Couldn’t Help But Notice (042508, Morning)
I’m surprised this didn’t happen sooner. It echoes a comment I made a few weeks ago (”think of the people who prudently decided to keep renting instead of buying more than they could afford and hoping that price appreciation would bail them out. They should be hacked off too.”) — AngryRenter.com (I’m sorry I can’t remember who to hat-tip) says “No government bailouts” of homeowners and their bankers, and has a petition.
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CEO Economic Update raises a legitimate question about the National Association of Realtors’ most recent existing-sales report and how it seasonally adjusted its data.
I’m not sure where the site’s Michael Donnelly came up with 40 years as the seasonality look-back period. But regardless, I think readers, in addition to getting the seasonally adjusted number (which NAR says is -2.7% for single-family homes; but Donnelly believes may be as low as -12%) could handle hearing what really happened in March, stated thusly:
March’s sales were 19% higher than in February, the fifth-lowest February-March increase in the past 40 years.
It communicates the existence of an increase, and that it wasn’t impressive. How difficult is that?
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The most delicious thing about the Supreme Court decision yesterday on police search and seizure powers is that it was unanimous: “….. when officers have probable cause to think a person has committed a crime in their presence, the Fourth Amendment permits them to make an arrest and to search the suspect in order to safeguard evidence and ensure their own safety.”
Even Ruth Bader Ginsburg said “Duh.”
The New York Times is apparently upset; this search at the Times on “Supreme Court” (in quotes) indicates that it has not yet reported the decision.
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Strange reporting priorities, plus virulent Bush Derangement Syndrome, have a price: From the New York Post today — at the New York Times, “the ax could fall on as many as 30 editorial people in the company’s first-ever mass firing of journalists in its 156-year history.”
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Katie Couric’s CBS Evening News was down to 5,390,000 viewers during the week ending April 14. “….. in fact they are the lowest numbers since Nielsen began tracking the ratings during the 1987-88 season.”
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From Fox News yesterday — “Mexican Embassy: Official Fired After Getting Caught With White House BlackBerries.” The reference is not to fruit.
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Steven Emerson asks (HT LGF): “Do Hamas Columnists Get Paid?” Unfortunately, I believe the cut-to-the-chase question is really “How Much Do Hamas Columnists Get Paid?”
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Must-read of Wednesday (sorry, just catching up): from Dorothy Rabinowitz at The Wall Street Journal — “Obama’s Media Army.”
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Tony Snow has been released from a Washington State hospital, and is apparently starting work at CNN on Monday. Don’t push it too hard, guy.
No bailout! It is nothing but wealth distribution. However, instead of being from the wealthy to the disadvantaged, it is from the responsible to the irresponsible. The government steals our money (taxes) and turns around and gives it to people who stole a house (buying something W/O paying is stealing). Ridiculous.
Comment by largebill — April 25, 2008 @ 12:41 pm
Bill,
It is nothing but wealth distribution. However, instead of being from the wealthy to the disadvantaged, it is from the responsible to the irresponsible.
…. some of who are, in terms of the value of their earning power, wealthy (or potentially so, even if they’re caught short now).
Comment by TBlumer — April 25, 2008 @ 3:07 pm
Concerning the Supreme Court ruling: On the surface this looks like a good thing - why hamstring the police? However, history tells us if you give Government an inch, they’ll take a mile. Let’s say I get pulled over due to the crack in my windshield that just happened due to a big rig throwing up a rock. Do they now have carte blanche to search my vehicle for signs of some kind of crime? Let’s say they don’t find anything, but they’re low on their quota this week and they decide to plant something. Don’t tell me it doesn’t happen, you know it does! I’m not so sure we’ve heard the end of this. Government has to be on a short leash or it will go crazy and what suffers is liberty. Sorry Tom. I’m not sure about this one.
Comment by Timothy A. Jumonville — April 26, 2008 @ 8:45 am
#3, I don’t deny the existence of the abuse potential you cited, and even the Bush admin argued AGAINST.
This is one of those situations that, if there is concern, should drive the need for a legislative fix. But legislators have long since abandoned the idea of deciding what the law is. If there ends up being police abuse, call your congressperson.
Comment by TBlumer — April 26, 2008 @ 11:16 am