Desert Cat's Paradise
"The prudent see danger and take refuge, but the simple keep going and suffer for it." - Proverbs 27:12.
Thursday, October 28, 2010
...an old joke:Comments
Q: What do you call 1000 bankers at the bottom of the ocean?
A: A good start.
posted by Desert Cat @ 8:27 AM | permalink
Tuesday, October 26, 2010
One, two! One, two! And through and through
The vorpal blade went snicker-snack!
He left it dead, and with its head
He went galumphing back.
"And, has thou slain the Jabberwock?
Come to my arms, my beamish boy!
O frabjous day! Callooh! Callay!'
He chortled in his joy.
Caught him in the act, cornered him, and dispatched him I did!
The bastard thief will steal no more.
This was the clever one, who deftly avoided my trap, weekend after weekend. Confident he became, careless even, such that I should come home and surprise him in the midst of his fressen, and he with panicky clambering should reveal himself, back against the wall--and once I closed the gate, with no way out.
One shotgun blast later--a furious undead charge I deftly sidestepped as headlong into the fence he went, heaving, twitching, then silence--and I hauled his filthy carcass away for the vultures to gorge upon.
`Twas brillig, and the slithy toves
Did gyre and gimble in the wabe:
All mimsy were the borogoves,
And the mome raths outgrabe.
Labels: San Pedro homestead
posted by Desert Cat @ 9:20 PM | permalink
1 Woe to those who plan iniquity,Comments
to those who plot evil on their beds!
At morning's light they carry it out
because it is in their power to do it.
2 They covet fields and seize them,
and houses, and take them.
They defraud a man of his home,
a fellowman of his inheritance.
3 Therefore, the LORD says:
"I am planning disaster against this people,
from which you cannot save yourselves.
You will no longer walk proudly,
for it will be a time of calamity.
Can I have a "WOE to them!"?
posted by Desert Cat @ 5:21 PM | permalink
Does this work? Click this link, then click on "Play Now" in the upper left corner at the link:Comments
Does the station begin to play, or does it make you jump through a bunch of hoops to sign up for a Pandora account?
posted by Desert Cat @ 5:08 PM | permalink
Labels: morning mood
posted by Desert Cat @ 7:58 AM | permalink
Sunday, October 24, 2010
This was a short weekend for me. Because I work four ten hour days I normally have Friday through Sunday. This Friday I had to run out here to grab some paperwork and then head back into town to do some scanning and faxing in an effort to forestall foreclosure and keep the deed-in-lieu process on the Tucson house moving forward. I didn't return until about 5 PM, so that was all she wrote for Friday.Comments
Saturday I got those panels painted. Two panels, two sides each, two coats of paint each, all day job. Go figure. I don't know where the time went.
Sunday I got started actually cutting and fitting and fastening stuff together. The north side of the solar tower gets this siding/sheathing. Everything will be painted black on the inside to absorb the solar radiation.
The outside is painted the color that the rest of the house will eventually be painted.
By sundown and quitting time I had the maintenance access door framed in and almost ready to cut out. That's where I will pick up in a couple of weeks.
Next weekend I am taking Daisycat on an extended weekend hiking vacation. She's had a hair up her hiney about visiting Sedona for a while now, so we'll go there, look around, and get it worked out.
In the garden, the self-seeded bed is looking thick. There's even a bunch of vetch that self-seeded in this bed and is coming up with the beans.
posted by Desert Cat @ 7:43 PM | permalink
Thursday, October 21, 2010
From Survivalblog.com, I am posting this article in its entirety. Consider it my message to anyone thinking about coming around after TSHTF: Welcome to the Promised Land, by Rod E.Comments
Over the years, many people have told us that WTSHTF, they are coming to our place in the country. When people say things like this, we hear, "...so that you can take care of me." This document is presented as a source of information for those who might need a realignment of their expectations, a clarification of ours or both. It should serve as a harsh wake up call for anyone who plans to flee to someone else's survival retreat should the need arise.
posted by Desert Cat @ 8:01 PM | permalink
Sunday, October 17, 2010
My vetch seeds were finally delivered this morning, so I dropped everything else I was doing to get the vetch, together with some wheat and daikon radish planted in my beds for the winter cover crop.Comments
Except for one bed that had burst forth in the week since I tilled it. A flush of cowpeas germinated that had been scattered by the mowing and then tilled in. They won't survive the winter--the first frost will zap them, but I figured why not let them grow and add organic material in the interim? They have maybe 3 weeks before frost. I threw in some wheat seed anyway, hoping some would germinate on the surface in the midst of the peas.
The wheat field that I failed to get turned over to summer beans, got turned over with vetch and wheat today also. I bought another hose and timer to reconnect the sprinkler, so it's ready to grow for the winter.
Friday and Saturday I painted the unpainted members of my tower--primed one day and painted the next. It doesn't seem like that much to me, since I was only up on the ladder at most 3 hours each time, but somehow that is all I got done (other than miscellaneous distractions) those days.
Here is a tower sheathing panel set up and ready to be painted that I never got to. Next weekend perhaps...
posted by Desert Cat @ 7:45 PM | permalink
posted by Desert Cat @ 11:58 AM | permalink
Saturday, October 16, 2010
I can't compel my readers to also read Denninger, not even when I provide direct links to items of interest. However inasmuch as "possible solutions to this mess" has been a topic of conversation, here is Karl Denninger's take on the topic: What Must Be Done - Today - MarketTicker ForumsComments
As far as I am concerned I am perfectly willing to get behind such a solution, or something similar that preserves the land title system while flushing out who is legitimately owed what and who is not. No solution that sweeps these abuses under the carpet, forgiving or retroactively validating them for the sake of EXPEDIENCY is anything less than a DEEPLY IRRESPONSIBLE move that sabotages one of the foundations of western civilization.
Anybody up for some real torture? Here is a link to a downloadable scholarly paper on the topic: "TWO FACES: DEMYSTIFYING THE MORTGAGE ELECTRONIC REGISTRATION SYSTEM’S LAND TITLE THEORY". Worth reading if you want a deeper and more clear understanding.
Update, here's another one: Foreclosure, Subprime Mortgage Lending, and the Mortgage Electronic Registration System. Haven't read it yet, linked for future review.
Labels: mortgage fraud
posted by Desert Cat @ 8:40 PM | permalink
This is one of the more succinct descriptions of what is a fairly complex problem. I am posting it here in full below the fold, copied from here (from which it was itself a copy): Welcome To The Subprime Debacle, Part 2Comments
"Homeowners can only be foreclosed and evicted from their homes by the person or institution who actually has the loan paper...only the note-holder has legal standing to ask a court to foreclose and evict. Not the mortgage, the note, which is the actual IOU that people sign, promising to pay back the mortgage loan
"Before mortgage-backed securities, most mortgage loans were issued by the local savings & loan. So the note usually didn't go anywhere: it stayed in the offices of the S&L down the street.
"But once mortgage loan securitization happened, things got sloppy...they got sloppy by the very nature of mortgage-backed securities.
"The whole purpose of MBSs was for different investors to have their different risk appetites satiated with different bonds. Some bond customers wanted super-safe bonds with low returns, some others wanted riskier bonds with correspondingly higher rates of return.
"Therefore, as everyone knows, the loans were 'bundled' into REMICs (Real-Estate Mortgage Investment Conduits, a special vehicle designed to hold the loans for tax purposes), and then "sliced & diced"...split up and put into tranches, according to their likelihood of default, their interest rates, and other characteristics.
"This slicing and dicing created 'senior tranches,' where the loans would likely be paid in full, if the past history of mortgage loan statistics was to be believed. And it also created 'junior tranches,' where the loans might well default, again according to past history and statistics. (A whole range of tranches was created, of course, but for the purposes of this discussion we can ignore all those countless other variations.)
"These various tranches were sold to different investors, according to their risk appetite. That's why some of the MBS bonds were rated as safe as Treasury bonds, and others were rated by the ratings agencies as risky as junk bonds.
"But here's the key issue: When an MBS was first created, all the mortgages were pristine...none had defaulted yet, because they were all brand-new loans. Statistically, some would default and some others would be paid back in full...but which ones specifically would default? No one knew, of course. If I toss a coin 1,000 times, statistically, 500 tosses the coin will land heads...but what will the result be of, say, the 723rd toss? No one knows.
"Same with mortgages.
"So in fact, it wasn't that the riskier loans were in junior tranches and the safer ones were in senior tranches: rather, all the loans were in the REMIC, and if and when a mortgage in a given bundle of mortgages defaulted, the junior tranche holders would take the losses first, and the senior tranche holder last.
"But who were the owners of the junior-tranche bond and the senior-tranche bonds? Two different people. Therefore, the mortgage note was not actually signed over to the bond holder. In fact, it couldn't be signed over. Because, again, since no one knew which mortgage would default first, it was impossible to assign a specific mortgage to a specific bond.
"Therefore, how to make sure the safe mortgage loan stayed with the safe MBS tranche, and the risky and/or defaulting mortgage went to the riskier tranche?
"Enter stage right the famed MERS...the Mortgage Electronic Registration System.
"MERS was the repository of these digitized mortgage notes that the banks originated from the actual mortgage loans signed by homebuyers. MERS was jointly owned by Fannie Mae and Freddie Mac (yes, those two again ...I know, I know: like the chlamydia and the gonorrhea of the financial world...you cure 'em, but they just keep coming back).
"The purpose of MERS was to help in the securitization process. Basically, MERS directed defaulting mortgages to the appropriate tranches of mortgage bonds. MERS was essentially where the digitized mortgage notes were sliced and diced and rearranged so as to create the mortgage-backed securities. Think of MERS as Dr. Frankenstein's operating table, where the beast got put together.
"However, legally...and this is the important part...MERS didn't hold any mortgage notes: the true owner of the mortgage notes should have been the REMICs.
"But the REMICs didn't own the notes either, because of a fluke of the ratings agencies: the REMICs had to be "bankruptcy remote," in order to get the precious ratings needed to peddle mortgage-backed Securities to institutional investors.
"So somewhere between the REMICs and MERS, the chain of title was broken.
"Now, what does 'broken chain of title' mean? Simple: when a homebuyer signs a mortgage, the key document is the note. As I said before, it's the actual IOU. In order for the mortgage note to be sold or transferred to someone else (and therefore turned into a mortgage-backed security), this document has to be physically endorsed to the next person. All of these signatures on the note are called the 'chain of title.'
"You can endorse the note as many times as you please...but you have to have a clear chain of title right on the actual note: I sold the note to Moe, who sold it to Larry, who sold it to Curly, and all our notarized signatures are actually, physically, on the note, one after the other.
"If for whatever reason any of these signatures is skipped, then the chain of title is said to be broken. Therefore, legally, the mortgage note is no longer valid. That is, the person who took out the mortgage loan to pay for the house no longer owes the loan, because he no longer knows whom to pay.
"To repeat: if the chain of title of the note is broken, then the borrower no longer owes any money on the loan.
"Read that last sentence again, please. Don't worry, I'll wait.
"You read it again? Good: Now you see the can of worms that's opening up.
"The broken chain of title might not have been an issue if there hadn't been an unusual number of foreclosures. Before the housing bubble collapse, the people who defaulted on their mortgages wouldn't have bothered to check to see that the paperwork was in order.
"But as everyone knows, following the housing collapse of 2007-'10-and-counting, there has been a boatload of foreclosures...and foreclosures on a lot of people who weren't sloppy bums who skipped out on their mortgage payments, but smart and cautious people who got squeezed by circumstances.
"These people started contesting their foreclosures and evictions, and so started looking into the chain-of-title issue, and that's when the paperwork became important. So the chain of title became crucial and the botched paperwork became a nontrivial issue.
"Now, the banks had hired 'foreclosure mills'...law firms that specialized in foreclosures...in order to handle the massive volume of foreclosures and evictions that occurred because of the housing crisis. The foreclosure mills, as one would expect, were the first to spot the broken chain of titles.
"Well, what do you know, it turns out that these foreclosure mills might have faked and falsified documentation, so as to fraudulently repair the chain-of-title issue, thereby 'proving' that the banks had judicial standing to foreclose on delinquent mortgages. These foreclosure mills might have even forged the loan note itself...
"Wait, why am I hedging? The foreclosure mills did actually, deliberately, and categorically fake and falsify documents, in order to expedite these foreclosures and evictions. Yves Smith at Naked Capitalism, who has been all over this story, put up a price list for this 'service' from a company called DocX...yes, a price list for forged documents. Talk about your one-stop shopping!
"So in other words, a massive fraud was carried out, with the inevitable innocent bystanders getting caught up in the fraud: the guy who got foreclosed and evicted from his home in Florida, even though he didn't actually have a mortgage, and in fact owned his house free -and clear. The family that was foreclosed and evicted, even though they had a perfect mortgage payment record. Et cetera, depressing et cetera.
"Now, the reason this all came to light is not because too many people were getting screwed by the banks or the government or someone with some power saw what was going on and decided to put a stop to it...that would have been nice, to see a shining knight in armor, riding on a white horse.
"But that's not how America works nowadays.
"No, alarm bells started going off when the title insurance companies started to refuse to insure the titles.
"In every sale, a title insurance company insures that the title is free -and clear ...that the prospective buyer is in fact buying a properly vetted house, with its title issues all in order. Title insurance companies stopped providing their service because...of course...they didn't want to expose themselves to the risk that the chain of title had been broken, and that the bank had illegally foreclosed on the previous owner.
"That's when things started getting interesting: that's when the attorneys general of various states started snooping around and making noises (elections are coming up, after all).
"The fact that Ally Financial (formerly GMAC), JP Morgan Chase, and now Bank of America have suspended foreclosures signals that this is a serious problem...obviously. Banks that size, with that much exposure to foreclosed properties, don't suspend foreclosures just because they're good corporate citizens who want to do the right thing, and who have all their paperwork in strict order...they're halting their foreclosures for a reason.
"The move by the United States Congress last week, to sneak by the Interstate Recognition of Notarizations Act? That was all the banking lobby. They wanted to shove down that law, so that their foreclosure mills' forged and fraudulent documents would not be scrutinized by out-of-state judges. (The spineless cowards in the Senate carried out their master's will by a voice vote...so that there would be no registry of who had voted for it, and therefore no accountability.)
"And President Obama's pocket veto of the measure? He had to veto it...if he'd signed it, there would have been political hell to pay, plus it would have been challenged almost immediately, and likely overturned as unconstitutional in short order. (But he didn't have the gumption to come right out and veto it...he pocket vetoed it.)
"As soon as the White House announced the pocket veto...the very next day!...Bank of America halted all foreclosures, nationwide.
"Why do you think that happened? Because the banks are in trouble...again. Over the same thing as last time...the damned mortgage-backed securities!
"The reason the banks are in the tank again is, if they've been foreclosing on people they didn't have the legal right to foreclose on, then those people have the right to get their houses back. And the people who bought those foreclosed houses from the bank might not actually own the houses they paid for.
"And it won't matter if a particular case...or even most cases...were on the up -and up: It won't matter if most of the foreclosures and evictions were truly due to the homeowner failing to pay his mortgage. The fraud committed by the foreclosure mills casts enough doubt that, now, all foreclosures come into question. Not only that, all mortgages come into question.
"People still haven't figured out what all this means. But I'll tell you: if enough mortgage-paying homeowners realize that they may be able to get out of their mortgage loans and keep their houses, scott-free? That's basically a license to halt payments right now, thank you. That's basically a license to tell the banks to take a hike.
"What are the banks going to do...try to foreclose and then evict you? Show me the paper, Mr. Banker, will be all you need to say.
"This is a major, major crisis. The Lehman bankruptcy could be a spring rain compared to this hurricane. And if this isn't handled right...and handled right quick, in the next couple of weeks at the outside...this crisis could also spell the end of the mortgage business altogether. Of banking altogether. Hell, of civil society. What do you think happens in a country when the citizens realize they don't need to pay their debts?"
The solutions are an entirely different matter, and as iron sharpens iron, Doom and I have been duking it out in his comment section here, if you care to wade in.
Labels: mortgage fraud
posted by Desert Cat @ 7:34 PM | permalink
Welcome my son, welcome to the machine.
Where have you been?
It's alright we know where you've been.
You've been in the pipeline, filling in time,
Provided with toys and 'Scouting for Boys'.
You bought a guitar to punish your ma,
And you didn't like school, and you
know you're nobody's fool,
So welcome to the machine.
Welcome my son, welcome to the machine.
What did you dream?
It's alright we told you what to dream.
You dreamed of a big star,
He played a mean guitar,
He always ate in the Steak Bar.
He loved to drive in his Jaguar.
So welcome to the Machine.
"Why do I hate the bankers (the poor beleaguered bankers)?" I am asked by a reader elsewhere.
Because they are the nearest visible representatives of those who hold the keys to this Matrix we find ourselves entangled in.
"Why do you wish for their fall when so many will feel their pain?"
Because they are evil and destined to fall.
17:1 Then one of the seven angels who had the seven bowls came and talked with me, saying to me,[a] “Come, I will show you the judgment of the great harlot who sits on many waters, 2 with whom the kings of the earth committed fornication, and the inhabitants of the earth were made drunk with the wine of her fornication.”
3 So he carried me away in the Spirit into the wilderness. And I saw a woman sitting on a scarlet beast which was full of names of blasphemy, having seven heads and ten horns. 4 The woman was arrayed in purple and scarlet, and adorned with gold and precious stones and pearls, having in her hand a golden cup full of abominations and the filthiness of her fornication.[b] 5 And on her forehead a name was written:
MYSTERY, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND OF THE ABOMINATIONS OF THE EARTH.
6 I saw the woman, drunk with the blood of the saints and with the blood of the martyrs of Jesus. And when I saw her, I marveled with great amazement.
The Meaning of the Woman and the Beast
7 But the angel said to me, “Why did you marvel? I will tell you the mystery of the woman and of the beast that carries her, which has the seven heads and the ten horns. 8 The beast that you saw was, and is not, and will ascend out of the bottomless pit and go to perdition. And those who dwell on the earth will marvel, whose names are not written in the Book of Life from the foundation of the world, when they see the beast that was, and is not, and yet is.[c]
9 “Here is the mind which has wisdom: The seven heads are seven mountains on which the woman sits. 10 There are also seven kings. Five have fallen, one is, and the other has not yet come. And when he comes, he must continue a short time. 11 The beast that was, and is not, is himself also the eighth, and is of the seven, and is going to perdition.
12 “The ten horns which you saw are ten kings who have received no kingdom as yet, but they receive authority for one hour as kings with the beast. 13 These are of one mind, and they will give their power and authority to the beast. 14 These will make war with the Lamb, and the Lamb will overcome them, for He is Lord of lords and King of kings; and those who are with Him are called, chosen, and faithful.”
15 Then he said to me, “The waters which you saw, where the harlot sits, are peoples, multitudes, nations, and tongues. 16 And the ten horns which you saw on[d] the beast, these will hate the harlot, make her desolate and naked, eat her flesh and burn her with fire. 17 For God has put it into their hearts to fulfill His purpose, to be of one mind, and to give their kingdom to the beast, until the words of God are fulfilled. 18 And the woman whom you saw is that great city which reigns over the kings of the earth.”
18:1 After these things I saw another angel coming down from heaven, having great authority, and the earth was illuminated with his glory. 2 And he cried mightily[a] with a loud voice, saying, “Babylon the great is fallen, is fallen, and has become a dwelling place of demons, a prison for every foul spirit, and a cage for every unclean and hated bird! 3 For all the nations have drunk of the wine of the wrath of her fornication, the kings of the earth have committed fornication with her, and the merchants of the earth have become rich through the abundance of her luxury.”
4 And I heard another voice from heaven saying, “Come out of her, my people, lest you share in her sins, and lest you receive of her plagues. 5 For her sins have reached[b] to heaven, and God has remembered her iniquities. 6 Render to her just as she rendered to you,[c] and repay her double according to her works; in the cup which she has mixed, mix double for her. 7 In the measure that she glorified herself and lived luxuriously, in the same measure give her torment and sorrow; for she says in her heart, ‘I sit as queen, and am no widow, and will not see sorrow.’ 8 Therefore her plagues will come in one day—death and mourning and famine. And she will be utterly burned with fire, for strong is the Lord God who judges[d] her.
9 “The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’
11 “And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore: 12 merchandise of gold and silver, precious stones and pearls, fine linen and purple, silk and scarlet, every kind of citron wood, every kind of object of ivory, every kind of object of most precious wood, bronze, iron, and marble; 13 and cinnamon and incense, fragrant oil and frankincense, wine and oil, fine flour and wheat, cattle and sheep, horses and chariots, and bodies and souls of men. 14 The fruit that your soul longed for has gone from you, and all the things which are rich and splendid have gone from you,[e] and you shall find them no more at all. 15 The merchants of these things, who became rich by her, will stand at a distance for fear of her torment, weeping and wailing, 16 and saying, ‘Alas, alas, that great city that was clothed in fine linen, purple, and scarlet, and adorned with gold and precious stones and pearls! 17 For in one hour such great riches came to nothing.’ Every shipmaster, all who travel by ship, sailors, and as many as trade on the sea, stood at a distance 18 and cried out when they saw the smoke of her burning, saying, ‘What is like this great city?’
19 “They threw dust on their heads and cried out, weeping and wailing, and saying, ‘Alas, alas, that great city, in which all who had ships on the sea became rich by her wealth! For in one hour she is made desolate.’
20 “Rejoice over her, O heaven, and you holy apostles[f] and prophets, for God has avenged you on her!”
21 Then a mighty angel took up a stone like a great millstone and threw it into the sea, saying, “Thus with violence the great city Babylon shall be thrown down, and shall not be found anymore. 22 The sound of harpists, musicians, flutists, and trumpeters shall not be heard in you anymore. No craftsman of any craft shall be found in you anymore, and the sound of a millstone shall not be heard in you anymore. 23 The light of a lamp shall not shine in you anymore, and the voice of bridegroom and bride shall not be heard in you anymore. For your merchants were the great men of the earth, for by your sorcery all the nations were deceived. 24 And in her was found the blood of prophets and saints, and of all who were slain on the earth.”
Who else but the world banking elite and their false Luciferian religion could this possibly apply to in this day and age? Oh yes! In one hour, such great wealth will be destroyed. The merchants, the merchants they wail, because no one can buy their wares any more.
"Come out of her, my people" says the Lord, "lest you share in her plagues".
Lunatic. He's a complete lunatic. Don't listen to him. His hat is made of tinfoil and he's dangerous. It will be ok, Obama will make everything okay. They will paper this over. The economic recovery will go on. We will be back to Skittles and Unicorns and Skittle-pooping Unicorns in no time now! Don't...listen! Make him go away! Make all of this intractable mess go away! I refuse to believe any of it! Away!
posted by Desert Cat @ 4:41 PM | permalink
Friday, October 15, 2010
...is right, twice a day. We know what time it must be when Krugman is right:Comments
Op-Ed Columnist - The Mortgage Morass - NYTimes.com
These days, the idea that our banks were well capitalized and supervised sounds like a sick joke. And now the mortgage mess is making nonsense of claims that we have effective contract enforcement — in fact, the question is whether our economy is governed by any kind of rule of law.
I for one am quite disappointed in the WSJ article though not surprised, given who they speak for. Obfuscation at best. At least some segments of the MSM are getting the story right, although Krugman's swipe at "the right" is misplaced. The Oligarchs would certainly love for this to disappear or to never have been revealed in the first place. But there are plenty of us libertarian and main street conservatives that are (or will be once the truth is more widely disseminated) appalled and wish as heartily as any leftist anticapitalist for this widespread, massive, unconscionable fraud to be fully exposed and punished in the best way possible--via the long-established bankruptcy process and the enforcement of centuries of established contract law.
No more bailouts! No more whitewashing of rotting corpses! Fire up the Resolution Trust Corporation! We've got WORK to do!
posted by Desert Cat @ 3:54 PM | permalink
Wednesday, October 13, 2010
As Rodge would say, "Horry Clap!!"Comments
If one of the founders of the MERS system is fleeing the system, it is in deep trouble.
MERS: Ka-BOOM! in [Market-Ticker]
This stuff is spinning out of control so fast I am having trouble absorbing and making sense of it. Here I thought I was going through a nice clean "Deed-in-lieu" process. Now I begin to question whether my servicer even has the requisite chain of title to even legitimately accept a deed in lieu of foreclosure for satisfaction of the first lien on the house.
It's like watching the Hindenburg gradually become engulfed in flames and crash to the ground in slow, agonizing motion.
"OH THE HUMANITY!!"
Attorneys General of 49 states open an investigation into foreclosure practices
Subpoenas begin to flow (Florida)
New York halts all foreclosures in the state
Or just go read Denninger as things blow up one or several at a time. We're literally watching a meltdown in progress today here folks! Expect this beast to thrash around a lot and hurt some or a lot of people before all is said and done.
Is this the Fall of the Harlot? Time will tell (a metaphorical "hour" or so). Hang on to your hats!
Oh, and just a word of advice (FWIW at this late hour), you might want to take out some cash from the bank if you can, enough to cover your expenses for a couple weeks (minus debt payments). I would gauge that a bank holiday is fairly likely to result from this if it keeps up at this pace. Try to get as many small bills (1's, 5's) as you can--tell them you are headed to the flea market this weekend and need the change. This could save your ass in the short term if your funds are otherwise locked up for a week or two.
Update: I'm going to walk back my earlier fretting. This could take a while to play out, and the Harlot still sits as a queen on her beast for now...
Update 2: Ok here's what I get for backing off when things look this bad:
We Got Problems...
I wonder what the dollar will look like by tomorrow morning?
Sleep tight, intrepids!
posted by Desert Cat @ 10:19 AM | permalink
posted by Desert Cat @ 9:06 AM | permalink
Tuesday, October 12, 2010
This past week the weather here suddenly turned gorgeous. We dropped out of the high nineties into the mid to high eighties, and the whole atmosphere, the whole feel of things changed suddenly from "dregs of blasted summer" to "balmy days of Indian summer/fall". Around here this Indian summer vibe should last into November, and if we are fortunate, even to the beginning of December.Comments
So of course, things indoors were left far behind. Friday and Saturday I mowed and tilled my garden to get things ready for planting the winter cover crops.
It turns out that the peanuts were not nearly the disappointment I thought they were. Despite the chlorotic, pathetic, puny size of the plants, there were indeed peanuts under them. Given better soil conditions (more nitrogen, lower pH) they may still do okay here, and I am willing to give them another whirl somewhere next summer.
My solution to the bare spots that have refused to grow plants, even grass in the paths, is to rearrange the garden around them, leaving the barren areas to become paths, and the fertile areas on either side made into beds. This involved changing the direction of some of the beds and tilling across areas that were paths up until now. If you recall, the first tilling of this garden yielded scads of fist size (and larger) rocks, and this time tilling across previously undisturbed paths was no exception. The tilling beat the living snot out of me, and I did almost nothing from Saturday afternoon through Sunday morning as I recovered.
Because my garden is one of the lushest spots for probably a mile around, I've attracted a lot of biodiversity. Rather than wipe this all out, I left the paths unmown, and will leave them this way until frost kills the flowers. The wildflowers were planted originally as part of my very initial groundcover right after the septic system was buried, and several species have been doing very well. I don't need the use of the paths that badly right now...
Here are some of the nicer ears off my O'odham dent corn. They did decently in less-than-ideal-for-corn soil. This is not surprising since this variety has been grown in this desert for generations. This year's crop will become my seed source for next year. Since this is an "heirloom" obtained from a local seed bank, quantity seed is not available for a reasonable price, so it is up to me to grow my own seed stash to plant larger areas in the future. The tepary beans did fairly well too--considering the lousy spot I gave them, they did impressively well, enough to increase my seed stash of that particular variety.
Sunday afternoon and Monday (holiday for me), I was back up my tower, adding the remaining cross-braces near the top. Next week I need to paint everything that is not already painted, ahead of starting the sheathing or the turbine installation (haven't decided the order of construction yet).
From the top of the tower, my new garden layout is easy to see. The wide rectangular bed in the middle of the far half is the good soil area. The new path on the left side is the main part of the barren areas.
Labels: San Pedro homestead
posted by Desert Cat @ 1:13 PM | permalink
Vox Popoli: The immorality of strategic defaultComments
I larfed and larfed! Or would have if I were not at work (on break) when I saw this! Instead I coughed and snorted, wheezed and jiggled.
Seems the Mortgage Bankers Association has a little problem with their own mortgage...
posted by Desert Cat @ 12:43 PM | permalink
Monday, October 11, 2010
A rather severe and persistent one, stuck in my ear since the early eighties or thereabouts, and Now I share it with you:Comments
"In the morning, laughing happy fish heads,
In the evening, floating in my soup.
Fish heads fish heads rolly polly fish heads
Fish heads fish heads eat them up yum!"
"Rolypoly fishheads are never seen drinking capachino in Italian restaurants
with oriental women!!!!!"
posted by Desert Cat @ 7:49 PM | permalink
This Is Starting To Get Very Real: Agricultural Commodity Prices Have Exploded And Now The Price Of Food Is Beginning To Rise Substantially In The United States And All Over The WorldComments
Priced a cut of beef lately? I just about flipped when I saw my usual quality cuts of ribeye that usually go for about $7-$8 per pound have gone up to over $10/lb now. I rarely eat steak these days...
Check out the linked article for more examples. These are real increases, not just one day grain price pops. I highlighted the spike last week as a way of drawing attention to the broader problem, and to suggest it is only going to get worse.
posted by Desert Cat @ 1:31 PM | permalink
Insider Selling To Buying Update: 1,169 To 1 | zero hedgeComments
Fleeing their sinking ships.
I have some supplementary retirement funds that I cannot pull out of the account they are in, but today they are being transferred into Treasury and Bond funds. Call it market timing if you will, but this hot-air driven stock market has nowhere meaningful left to go. If I miss the last parabolic shot to the exosphere, then sobeit. I counted these funds as lost a year ago as it is, so where they have risen to is all gravy in my book.
posted by Desert Cat @ 9:28 AM | permalink
Sunday, October 10, 2010
Got a 401K? Don't count on it for long--the Democrats have plans for it, and they don't involve you keeping it for your retirement:Comments
If You Had Any Doubt.... in [Market-Ticker]
Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more 'fairly' distribute taxpayer-funded pensions to everyone.
Do what you have to do, including oiling up your pitchfork...
"In Soviet Amerika, the pooch screws YOU"
posted by Desert Cat @ 9:38 PM | permalink
Friday, October 08, 2010
Someone (or a whole lot of someones) have figured out that if the banks are going down in flames, the source of agricultural credit is going tits up, and with it the credit needed to plant, grow, harvest, store and transport to market those grains.Comments
Uh, Wee Problem Here On Grains..... in [Market-Ticker]
In case you haven't noticed, there are price spikes all over the place. Gasoline has just shot up ten cents a gallon here and is headed higher. Grocery store prices are jumping at an alarming clip. This is the beginning of the price inflation that so many have been predicting.
We've been sitting and sitting and wondering since 2008 when the second shoe drops. It is looking more and more like this is it.
posted by Desert Cat @ 4:07 PM | permalink
posted by Desert Cat @ 6:51 AM | permalink
Thursday, October 07, 2010
Worth Reading: #comment at ZeroHedgeComments
posted by Desert Cat @ 5:01 PM | permalink
Rumours aside, something big is about to happen � BJH.comComments
I’m not going to waste time on a long, detailed post. Instead, I’m going to present the data, the facts and the patterns. Then I’m going to make you make up your own mind.
Links within the text at the linked article to more info.
"Attention short bus passengers: Prepare for impact in 15...14...13..."
posted by Desert Cat @ 1:16 PM | permalink
Bill Toughening Foreclosure Challenges Passes Quietly - CNBCComments
A bill that homeowners advocates warn will make it more difficult to challenge improper foreclosure attempts by big mortgage processors is awaiting President Barack Obama's signature after it quietly zoomed through the Senate last week.
Raised eyebrows indeed! It didn't take long for them to fulfill my prediction, did it? Heck, it was just the last couple days in conversations with Daisycat that I predicted exactly this--I didn't even have time to formalize it in a blog post.
This shows you, IN BLACK AND WHITE, who owns Congress. And by owns, I mean the call goes out, and the Senators in their offices say, 'Yes SUH!', and the Representatives in their offices say 'How high', and 'would you like a BJ with that, SUH?'
This bill will solve nothing for us. It will solve something really big for the banksters who own us, and shove their shit even harder down our throats.
UPDATE: Well looky dooky doo!
Obama won't sign bill that would affect foreclosure proceedings
I am looking on, blinking in wonder. Did Teh i-Won just do the right thing?
posted by Desert Cat @ 9:42 AM | permalink
Wednesday, October 06, 2010Comments
posted by Desert Cat @ 4:15 PM | permalink
posted by Desert Cat @ 8:27 AM | permalink
Monday, October 04, 2010
For any of you following the MERS foreclosure fraud story (anyone besides me?), this one just exploded out into the headlines:Comments
MERS/MBS/Foreclosure Goes RICO in [Market-Ticker]
Schweet! I mean really schweet! This could be the bankstas getting the comeuppance they so richly deserve for driving us over the cliff.
That is, provided Uncle Sugar doesn't intervene...
UPDATE: HERE IT IS!
Here is their first attempt to bypass the shitstorm heading their way: HR-3808
Basically this law would allow them to shop for the jurisdiction with the loosest notary laws, and from there all jurisdictions would be forced to accept the (probably) fraudulent signatures. Voila! Big problem conveniently swept away!
This bill must fail!
Oops, I missed this one: A bill that homeowners advocates warn will make it more difficult to challenge improper foreclosure attempts by big mortgage processors is awaiting President Barack Obama's signature after it quietly zoomed through the Senate last week.
Yeah, it didn't take long for them to fulfill my expectations, did it.
posted by Desert Cat @ 6:13 PM | permalink
Sunday, October 03, 2010
We had Unusual Weather Saturday and Sunday. Normally the summer thunderstorms are long gone by mid-September and we have perfectly clear weather for the month of October and much of November.Comments
It's almost as if God saw fit to alter the normal weather pattern over the entire region just to impress a lesson upon someone.
Not that it affected me. I was indoors again on this bathroom project.
It doesn't seem like I got much done, but a good amount of time was spent carefully measuring and laying things out. I don't have the shower doors, and won't have money for them for a while, so I need to precisely measure where things go to ensure the correct amount of space is left to install them.
The back and sides are getting framed in for either a tile-pattern masonite panel or actual tile--I haven't decided which yet.
I sandwiched the original tub edge framing into the new wall along the sides. At the front three sides I will be constructing all new framing to support the tub. That front face will probably get tile that matches whatever goes on the floor, and will meet up with the shower door that gets installed at the outer perimeter of the tub.
Or at least that's the plan today.
I had to peel away from the bathroom project to install a couple of ignition system components on my Mitsubishi. I've been having a peculiar stalling problem that manifests almost exactly eight minutes after starting the vehicle, on those occasions when it happens. I am 90% certain the problem is somewhere on the ignition system side. I replaced the ignition control module, the coil and the ballast resistor. If this does not solve it, I found one more possibility by looking at the wiring diagram, and that is a wire that runs from one side of the coil to the engine control module--that 23-year old bad boy that I've been eyeballing for execution for some time now.
I bought an aftermarket carb that does not have the wiring harness that this one has. I may or may not install it next weekend, but if the problem persists I will. I will also yank that engine control module and rewire any essential functions directly. This vehicle is not subject to emissions inspections anyway, and even if it was, I could probably get it tuned to pass without the "million dollar carburetor". That's what my mechanic calls it. His shop staff won't touch it with a ten-foot pole (mega complicated), so it's a big liability whether I try to work on it or have the shop work on it. Better a straightforward mechanical system that can be tuned and adjusted.
I also was overdue for some bulk cooking. I was down to chili and cheese chili for lunch choices, so it was time to cook up some variety. I had some pre-cooked chicken chunks in the freezer so I thawed them out, then made a rice pilaf to go with it.
To a quarter cup of hot olive oil, I add two cups of rice and sautee until the rice is toasted light brown.
Then I throw on four cups of chicken broth and cook covered until all the water is absorbed. Steamy delicious pilaf!
The chicken was originally cooked with salt, pepper, onion and garlic. To that I added sage, poultry seasoning blend, and a large can of cream of chicken. Into containers goes the rice, some frozen peas, and a portion of the chicken gravy.
Banquet has nothing on these!
I even managed to get the kitchen to a semblance of clean when I was done this time. That is not the norm. I'm usually too bushed by late Sunday evening after cooking to get to the cleaning. I usually regret that later in the week...
Labels: San Pedro homestead
posted by Desert Cat @ 8:00 PM | permalink
Friday, October 01, 2010
I cut and installed a second set of shelves for the cabinet I put up the weekend before,Comments
and I installed a latch on the door of a tall cabinet that has been there a while. This has one of those self-closing hinges but it was no longer properly closing.
Later I reinstalled the trim that I pulled off to install the cabinet.
It took me as much time reinstalling the trim (measuring, cutting, nailing, sealing with painter's caulk, etc.) as it did installing the original cabinet on the wall. No wonder stuff like that gets relegated to the "later" list so often...
In between doing indoor work, I moved some dirt around my pond extension.
The berm is much too high, so I am moving some of the excess dirt away, and leveling it for future pondside plantings.
There has been a smell emanating from below the house that I think I've finally deduced is cat poo being laid in the insulation under the house. Irene was using the space between the bottom of the floor and the bottom of the insulation as a hidey-hole to stay away from certain cats who were too aggressive toward her. She also used the space as a litter box.
I thought I had sealed up all the openings so that she could no longer crawl up there, but then last weeekend, much to my chagrin, I discovered that I had never resealed the slit where I cut it open to do the solar electric wiring!
I promptly sealed that up, and then also cut and fitted a vent shaft directly to my solar battery cabinet, where it had been previously drawing air from that odorous cavity. This image should have been rotated--it is looking directly up at the bottom of the floor.
My ozone generator was doing a great job of keeping the place smelling fresh, but now by cutting off the source of the odors, it should get better.
I also worked on the west bathroom project some more. It is still too hot to work comfortably outside (or I've gone soft), and this project is now hanging out there like a sore thumb. I only started it because of Daisycat's implied assurance that she would be out here regularly to help it move forward. Well we know how that went. So it is left to me to bring it to some sort of conclusion, whether it would have been what she wanted or otherwise.
I removed the existing vanity cabinets, carefully salvaging the door units in front
The remainder of the cabinet is not worth shit, being made of (believe it!) 3/4" square sticks!
That all got pulled out and tossed. I will be doing something different for the vanity tops--not sure what yet--and will build a new frame to attach the front doors to.
Then I turned my attention to the popcorn ceiling. At first I was ok with the popcorn ceiling in this house, and was planning to leave it alone. But I have gradually come to loathe it. Here I am partway through scraping it off.
It came off quite easily with a special tool that Daisycat had bought--basically a scraper with a place to attach a garbage bag. You wet the ceiling with a spray bottle, scrape off the popcorn, and it falls (or maybe 90% of it falls) into the garbage bag.
Later I did some sanding on the walls and got a second coat of plaster on portions of the walls, before I ran out of weekend.
He had been an outdoor cat for most of the last five years or so after we added Bob to the mix. Bob and he never got along well, but unfortunately he was the one to be pushed outside. Rumsfeld recently underwent extensive oral surgery, and so he has spent much more time indoors as we've pampered his silly butt with special foods hiding his medicine. He's loving it. He is really a great cat.
posted by Desert Cat @ 8:13 PM | permalink
posted by Desert Cat @ 9:45 AM | permalink
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