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If You Are Considering Buying A House, Read This First

Tyler Durden's picture




 

In September of 2011, when looking at the insurmountable debt catastrophe that the world finds itself (which has only gotten worse in the past several years) we warned that "the only way to resolve the massive debt load is through a global coordinated debt restructuring (which would, among other things, push all global banks into bankruptcy) which, when all is said and done, will have to be funded by the world's financial asset holders: the middle-and upper-class, which, if BCS is right, have a ~30% one-time tax on all their assets to look forward to as the great mean reversion finally arrives and the world is set back on a viable path."

Two years later, the financial asset tax approach, in the form of depositor bail-ins, was tried - successfully (as there was no mass rioting, no revolution, in fact the people were perfectly happy to accept the confiscation of their savings) - in Cyprus, further emboldening the status quo, in this case the IMF, to propose, tongue in cheek, that the time has come for the uber-wealthy to give back some ("it's only fair"), and to raise income taxes through the roof (which of course would mostly impact the middle class as the bulk of current income for the 1% is in the form of dividend income, ultra-cheap leverage extraction on assets and various forms of carried interest).

And now, a new tax is not only on the horizon but coming fast and furious to allow the insolvent global regime at least one more can kicking: one which will impact current and future homeowners across the world.

But first, let's step back.

Last week, the IMF did what only the IMF could do: come to the realization that we proposed in 2009, and even the Davosites discussed earlier this year: namely that the middle class is effectively an endangered species, and rapidly on its way to wholesale extinction, and that the polarity between the rich and poor has never been greater. The IMF concluded, with the panache that only this comical organization is capable of, that income inequality "is weighing on global economic growth and fueling political instability."

The WSJ reports:

The International Monetary Fund's latest salvo came Thursday in a top official's speech and a 67-page paper detailing how the IMF's 188 member countries can use tax policy and targeted public spending to stem a rising disparity between haves and have-nots.

 

IMF Managing Director Christine Lagarde has made the issue a high priority for the fund, warning—along with some of the fund's most powerful shareholders—that inequality is threatening longer-run economic prospects. Last month, Ms. Lagarde said the income gap risked creating "an economy of exclusion, and a wasteland of discarded potential" and rending "the precious fabric that holds our society together."

The IMF's solution? The same as that of socialists everywhere: redistribute the wealth... because apparently socialism works every time, all the time, with stellar results.

"Redistribution can help support growth because it reduces inequality," David Lipton, the fund's No. 2 official and a former senior White House aide, said in a speech Thursday at the Peterson Institute for International Economics. "But if misconceived, this trade-off can be very costly."

 

"There's a sense that the burdens of the crisis have been unevenly distributed, that the middle classes and the poor have footed more of the bill of the crisis than the economic elite," said Moisés Naím, a senior economist at the Carnegie Endowment for International Peace and Venezuela's former trade minister.

Oh is there a sense? Is that why the Fed has halted its QE program which takes from what little is left of the middle class and gives to those who already have more money than they can spend in several lifetimes. Guess not.

So how does the IMF suggest going about this wholesale, global socialist revolution? Simple: the way we explained nearly three years ago.

The IMF's latest paper doesn't prescribe country-specific measures, but it does offer several proposals that are likely to be controversial. Most notably, the IMF says many advanced and developing economies can narrow inequality by more aggressively applying property taxes and "progressive" personal income taxes that rise as incomes increase.

 

The median top personal income-tax rate across the globe has halved since the 1980s to around 30%. But the IMF says "revenue-maximizing [personal income tax] rates are probably somewhere between 50% and 60% and optimal rates probably somewhat lower than that."

We wouldn't be too concerned about income taxes. After all, one needs to have a job to have income, and as everyone knows by now, jobs also are on their way to extinction, and every central bank everywhere will merely print the money needed to cover the income tax shortfall, leading to that "other" alternative to fixing the debt problem: global hyperinflation (with a little precious metals confiscation on the side: just like FDR did in the 1930s).

But going back to the original point, here is why those in the market for a house should be worried. Very worried. From page 40 of the IMF's paper on "Fiscal Policy and Income Inequality":

Some taxes levied on wealth, especially on immovable property, are also an option for economies seeking more progressive taxation. Wealth taxes, of various kinds, target the same underlying base as capital income taxes, namely assets. They could thus be considered as a potential source of progressive taxation, especially where taxes on capital incomes (including on real estate) are low or largely evaded. There are different types of wealth taxes, such as recurrent taxes on property or net wealth, transaction taxes, and inheritance and gift taxes. Over the past decades, revenue from these taxes has not kept up with the surge in wealth as a share of GDP (see earlier section) and, as a result, the effective tax rate has dropped from an average of around 0.9 percent in 1970 to approximately 0.5 percent today. The prospect of raising additional revenue from the various types of wealth taxation was recently discussed in IMF (2013b) and their role in reducing inequality can be summarized as follows.

  • Property taxes are equitable and efficient, but underutilized in many economies. The average yield of property taxes in 65 economies (for which data are available) in the 2000s was around 1 percent of GDP, but in developing economies it averages only half of that (Bahl and Martínez-Vázquez, 2008). There is considerable scope to exploit this tax more fully, both as a revenue source and as a redistributive instrument, although effective implementation will require a sizable investment in administrative infrastructure, particularly in developing economies (Norregaard, 2013).

And there you have it: if you are buying a house, enjoy the low mortgage (for now... and don't forget - if and when the time comes to sell, the buyer better be able to afford your selling price and the monthly mortgage payment should the 30 Year mortgage rise from the current 4.2% to 6%, 7% or much higher, which all those who forecast an improving economy hope happens), but what will really determine the affordability of that piece of property you have your eyes set on, are the property taxes.

Because they are about to skyrocket.

 

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Sat, 03/15/2014 - 19:43 | 4553232 ebworthen
ebworthen's picture

And they aren't kidding; here in the U.S. the Supine Court decided in 2005 that your home and property can be taken from you simply to increase tax revenues (KELO vs. City of New London).

So, the groundwork has already been laid for the banks and governments to own everything.

Not to mention you are really only renting from the state because you have to pay taxes on the property.

Meet the new Lords and Ladies of the modern world serfs - banksters.

Sat, 03/15/2014 - 20:36 | 4553437 prmths2
prmths2's picture

KELO vs. City of New London was a classic. The house was moved to create a vacant lot and the developer that was supposed to provide the added value couldn't come up with the financing. The last picture I saw showed the lot being used for temporary storage of debris in the wake of a storm.

Sun, 03/16/2014 - 15:04 | 4555690 TruthInSunshine
TruthInSunshine's picture

Kelo is a decision that will spawn much turmoil in future America.

The only reason it has not caused more strife yet is that 34 states amended their state constitutions in the wake of that horrid injustice (which trump federal law under the 10th Amendment since land is local and no federal issue arises) to negate to possibility of Kelo-like "takings" within their states.

Sat, 03/15/2014 - 19:43 | 4553236 kchrisc
kchrisc's picture

If one thinks about it, the debt, all fraud-reserve debt, has many names on it, but all the interest and benefits flow to the banksters and elites.

It's a lot like they stole the farm and need us to work it for them so as to enable them to live off of that theft.

I for one reject being their farmhand or draft animal.

See you on the battlefield.

 

"When you reach a fork in the road, built another guillotine."

Sat, 03/15/2014 - 19:43 | 4553237 ultraticum
ultraticum's picture

" . . . they are about to skyrocket." 

 

That is the understatement of the decade.  In spite of falling values our real estate taxes have DOUBLED in the last 10 years. 

 

Pitchforks!!!

 

 

Sat, 03/15/2014 - 19:53 | 4553266 22winmag
22winmag's picture

Tell me about it. In my area property taxes are around $4,000/year for every $100,000 of realistic market value.

 

The majority of those taxes go to fund teachers pensions and the local teenage daycare known as high school.

 

Pitchforks and torches!

Sat, 03/15/2014 - 20:17 | 4553355 El Vaquero
El Vaquero's picture

I live in a state that has a lot of poor yet heavily armed people.  When counties started seizing properties left and right, it would get ugly.  Pitchforks and torches indeed!

Sat, 03/15/2014 - 23:58 | 4553924 FredFlintstone
FredFlintstone's picture

Poor people with heavy arms? I see them at Walmart.

Sun, 03/16/2014 - 06:08 | 4554135 DontGive
DontGive's picture

Those aren't arms, they are tentacles. Evolved precicely, and adapted for the hand-outs. Or was that tentacle-outs? Shit..

Sun, 03/16/2014 - 01:24 | 4554071 PT
PT's picture

Wouldn't the increased RE taxes CAUSE falling property values?  The extra sixteen bucks per week you spend on property taxes is sixteen bucks per week less available to pay the mortgage which shaves off roughly ten grand from the amount you can afford to borrow in order to buy a house.  Can you sue 'em for destroying property values as others have mentioned here?

Oh, hang on.  Banksters don't worry about "ability to repay" any more.  Higher property taxes won't stop anything ... 

Sat, 03/15/2014 - 19:47 | 4553248 LurkMaster
LurkMaster's picture

I've long suspected this; surprised it hasn't been 'exploited' already. Pitchforks, anyone?

Sat, 03/15/2014 - 19:48 | 4553251 BurningFuld
BurningFuld's picture

As a Canadian, who's government is not completely fucking insolvent I would just like to say pay up rest of the world.

Sat, 03/15/2014 - 20:23 | 4553378 FredFlintstone
FredFlintstone's picture

We should tax our neighbors to the north!

Sat, 03/15/2014 - 20:50 | 4553489 UselessEater
UselessEater's picture

Don't bother - Canadians and Australians will learn the hard way; those that bother to follow the antics of the G20, IMF, FSB etc etc already know we're in for more taxes, bail-ins and 'repressive' economics; we're sitting in the same leaky boat heading to wealth confiscation and loss of individual independance and liberty.

Its like mafia tactics - one person (or nation) cannot break free in case it makes others think they can do the same.

Sat, 03/15/2014 - 21:10 | 4553552 Bonapartist
Bonapartist's picture

no one gets out alive- complicated systems and all of that shit.

Sat, 03/15/2014 - 21:52 | 4553648 UselessEater
UselessEater's picture

the fact that few recognise this is why the IMF is growing in stature.... its frustrating to hear people thinking it'll "never happen here". They argue that Ireland, Greece etc is a different case, they refuse to consider its a test run. Then if you posit the idea of leaving (say US or Aus) you're automatically a traitor and should stay and fight.... can't have it both ways; if it'll never happen in the US/Aus/etc then leaving is, well just leaving. I suspect on a subconscious level people are more aware than they want to admit.

Sun, 03/16/2014 - 04:08 | 4554200 Tall Tom
Tall Tom's picture

BurningFuld...You are funny. How much Gold does your Central Bank have in reserve? Any of those Paper Assets are subject to massive Paper Losses.

 

Canadian Bank Solvency is an ILLUSION. You guys are in a Property Bubble up North. When that thing pops...and it will...then your Banks will not be anymore solvent than the rest of the World's Banks.

That pop is approaching much sooner than you think. And your banks do not hold Gold in Reserve? You are in a World of Hurt. Perhaps on Monday you can delude yourself that everything is fine. Perhaps next week it will also appear that way. Your time is fast approaching. There will be nobody to bail your asses out.

 

At least you have some Natural Resources to sell. But the sales will be in Gold from countries that have some. Because your fiat currency, as well as the rest of the World's, will be useful only as TOILET PAPER.

 

Enjoy it now you arrogant bastard.

Sat, 03/15/2014 - 19:49 | 4553252 indygo55
indygo55's picture

Buying or renting, it doesn't matter. It all gets passed down to the one living under the roof. Its another form of inflation. Once people have nothing left then they will finally wake up and stand up. Well those of us who actually work and pay for things that is.

 

Sat, 03/15/2014 - 19:57 | 4553275 the question
the question's picture

Bingo, my friend. You have to live somewhere (unless you want to be homeless), and if property taxes go up, we all pay more. Buyers AND Renters.

Sat, 03/15/2014 - 21:03 | 4553531 UselessEater
UselessEater's picture

meanwhile those wealthy enough to have 'Foundations' with complex corporate and tax structures pay less and conveniently escape the attention of the IMF.... manufactured fiat debt for control of the unwashed masses

Sat, 03/15/2014 - 21:49 | 4553644 Anusocracy
Anusocracy's picture

Took a bicycle trip of almost two and a half years and was homeless.

Never enjoyed life more than that. Incredible freedom.

Sat, 03/15/2014 - 21:54 | 4553653 FredFlintstone
FredFlintstone's picture

Sounds awesome, although I am sure it wasn't all roses.

Sat, 03/15/2014 - 22:33 | 4553742 Anusocracy
Anusocracy's picture

Thanks. It was like a lifetime of vacations rolled into one.

Going to strange countries, meeting strange people, and not killing them is something the government needs to learn.

Sun, 03/16/2014 - 00:41 | 4554000 ILLILLILLI
ILLILLILLI's picture

Where's the profit in THAT??

/snark

Sat, 03/15/2014 - 22:40 | 4553754 UselessEater
UselessEater's picture

Sure we can live simple lives - but at our own behest.... not at the behest of the IMF et al who intend to make it impossible to jump in and out of the rat race as our interests and needs and private finances dictate. Being homeless and free is impractical if you do not want your children "re-possessed" or your parents turned into nursing home lab rats.

TPTB are homeless, their Foundations own their virtually tax free private properties preserved for the generations to come. This Foundation game plan sounds like incredible freedom ;)

Sun, 03/16/2014 - 01:16 | 4554062 PT
PT's picture

So why did you stop?

 

 

 

 

 

Yes, I do have to ask.

Sun, 03/16/2014 - 03:38 | 4554162 UselessEater
UselessEater's picture

Your question is to me? I didn't post about cycling around the world - boring! (I can't stand cyclists on the road- ANYWHERE)

I earned well, got f*d in the GFC and just want to see me and mine retire well with freedom and privacy.

I do not like anythings I read from the IMF, G20 etc etc its all about trapping people into servitude by ANY means.

Yes, you do have to ask and YOU do have to RESEARCH, protect yourself and your family as best you can PT.

 

 

Sun, 03/16/2014 - 08:43 | 4554430 ForTheWorld
ForTheWorld's picture

Roads in the US were created originally for bicycles because of the League of American Wheelmen. Not for cars as everyone seems to think.

If you can't stand any other person using the road except that which drives a car, then you've got a problem.

Sun, 03/16/2014 - 03:52 | 4554173 merizobeach
merizobeach's picture

Maybe he found someplace decent.

I took a one-year road trip around the States a bit over a decade ago (when gas was still cheap).  That was some awesome freedom, too.  I finished that trip because it was time to leave [what] the country [had degenerated into].  It was the last time I lived in the States.  Then I began enjoying a decade-plus of awesome freedom abroad.

Mon, 03/17/2014 - 21:55 | 4561546 Anusocracy
Anusocracy's picture

You're a wise man.

Wed, 03/19/2014 - 05:38 | 4566768 merizobeach
merizobeach's picture

You, too, friend; keep the stories coming.

Mon, 03/17/2014 - 21:53 | 4561541 Anusocracy
Anusocracy's picture

I dunno. I never got tired of it.

I should have stayed in Australia and later applied for amnesty. Spent some time looking at houses in Perth. I hope to go back one day and retrace my trip. Townsville to Townsville, anti-clockwise.

The hottest, flattest, driest continent on earth is a really great place with great people.

Sun, 03/16/2014 - 11:03 | 4554751 devo
devo's picture

What did you do for food/shelter? I have been considering a long trip myself. Not sure if carrying a tent and supplies will bog me down and make it bad...

Mon, 03/17/2014 - 23:45 | 4561856 Anusocracy
Anusocracy's picture

I try to encourage people to do the trip - you can always end it whenever you want. It's better to give it a go than just dream about it.

Carrying a lot of supplies and food isn't all that bad and it really depends on where you'll be traveling and for how long. Some of the stuff I started out with I gave away. I did have a good tent and sleeping bag the whole trip, though.

If you wish, we could exchange emails.

Sun, 03/16/2014 - 07:44 | 4554364 Seahorse
Seahorse's picture

True, all people pay all taxes

Sat, 03/15/2014 - 19:58 | 4553277 22winmag
22winmag's picture

Scorched earth, burn down these overvalued, overtaxed rat holes.

Sat, 03/15/2014 - 22:08 | 4553692 N2OJoe
N2OJoe's picture

But if you burn them, where will we squat?

Sat, 03/15/2014 - 19:58 | 4553278 Soul Glow
Soul Glow's picture

They are coming for the nuevo-rich's money.

Sat, 03/15/2014 - 19:59 | 4553281 john_connor
john_connor's picture

Property is taxed at the local level, at least in the US. So raising them wont help the ongoing federal bankruptcy. Also increased property tax would obviously hurt property values, and debt instruments held by TBTF would go down in value. Mark to market or not, this would hurt lending.

Therefore this will simply hasten the collapse.

Sat, 03/15/2014 - 20:21 | 4553372 FredFlintstone
FredFlintstone's picture

Impose a National property tax? The income tax started at the Federal level and worked its way down to the state and local level. Do not see why the property tax couldn't be worked up to the state and federal level. Damn, I should get a job in government!

Sat, 03/15/2014 - 20:27 | 4553391 john_connor
john_connor's picture

Good luck with that with the RE lobby in Washington. Plus, again, it's masochistic as TBTF who run Washington would be hurt.

Sun, 03/16/2014 - 03:54 | 4554180 merizobeach
merizobeach's picture

Nah, they could exempt themselves like they do for everything else.

Sun, 03/16/2014 - 02:56 | 4554096 MrPalladium
MrPalladium's picture

The constitution does not allow the Fedgov to impose a property tax.

The 16th amendment allows a tax only on incomes.

A federal property tax would have to be apportioned according to the population of each state relative to the whole, which means the states with relatively low property values but lots of people would be screwed royal. The red state senators and reps would oppose such a tax or lose their jobs.

Sun, 03/16/2014 - 03:56 | 4554184 merizobeach
merizobeach's picture

"The 16th amendment allows a tax only on incomes."

What if an increased assessed RE value was deemed a capital gain?

Sun, 03/16/2014 - 04:18 | 4554212 Tall Tom
Tall Tom's picture

There is no gain unless there is a sale and it is assessed upon the profit and not the capital. (That is, if a profitl is made. If not then it is called a Capital Loss.) 

 

Do you think that the Government will force everyone's house to be put up for sale at the close of a Year? Laughable.

 

Capital Gains Taxes are still on the Honor System. The Purchasing Price of the asset is not reported. Only the Gross Sales Price is reported to the IRS.

Sun, 03/16/2014 - 04:41 | 4554241 merizobeach
merizobeach's picture

Tom, we're talking about the gov scamming and fleecing people in creative ways.  I understand that no 'capital' is gained by raising a valuation, but perhaps they would call it a 'networth gain', or whatever else they want to call it.  Point is, they'll do as they wish.

Sun, 03/16/2014 - 09:45 | 4554549 Tall Tom
Tall Tom's picture

No. They will do as the elite wishes. The elite are not going to allow that. The elite has purchased them a long time ago...with US Dollars. I am not too concerned with this as a possibility at this time.

Sun, 03/16/2014 - 05:59 | 4554293 effendi
effendi's picture

You are sadly mistaken. It is not hard for a government to tax a capital gain on any asset without the necessity of the property being sold. 

Many countries have rules where a paper gain is deemed to be a profit even if the underlying asset is not sold, it particularly applies in many countries to assets such as options and shares. It isn't hard for a government pen pusher to extend that to property if they are desperate for another income stream. To avoid a public outcry they only have to start on luxury properties, holiday homes and avoid taxing 95% of the population. They can also start at a modest rate. That same method was used to introduce income tax (start on the rich and then eventually snare everyone via inflation).

Sun, 03/16/2014 - 09:34 | 4554519 Tall Tom
Tall Tom's picture

In the United States it is currently not that way. The wealthy own the Government here. They purchase it every auction...er...election.

 

They are not going to allow that to happen here unless the House of Cards collapses completely. Then you will see a Civil War in the USA. Many of us will not go down easily.

 

I do not advocate Euro Communism (which is the prevailing type of Government across the pond.) Of course if the Dollar dies and the IMF has to take over then I suspect that they will attempt to disarm America and excise these types of taxes here.

 

But we have guns and bombs, poison gases, and some of us are even walking, living and breathing Biological Warfare Labs. (Lyme Disease is an incurable bitch.)  It is the entire Eurozone which is in collapse as well. That Euro Federation is weak and will not survive.

 

Even if they try the SDR as a Reserve Currency it will not last long. It will not happen.

Sun, 03/16/2014 - 14:03 | 4555416 FredFlintstone
FredFlintstone's picture

The Constitution? Wasn't that made irrelevant recently?

Sat, 03/15/2014 - 20:02 | 4553290 Goatboy
Goatboy's picture

I am still waiting to hear how would ZH editors run the show if it was up to them.

Sat, 03/15/2014 - 20:30 | 4553409 q99x2
q99x2's picture

I'm pretty sure the consensus here is that the military moves in on the globalists and takes over the financial functions of the treasury. They shut down the TBTF banks and throw their CEO's into prisons. Once the financial FRAUD is stopped and the banksters and traitors are all in prisons the economy will free of the 70% drain of the banksters and healthy enough to revert to free enterprise. During the transition a crypto currency will become the currency of the United States of America and each State will also be permitted to have their own State currencies. Computers will allow instant conversion from one currency into any other currency but each will have a finite issuance.

Law and order shall be reinstated under the Constitution of the United States of America.

Sat, 03/15/2014 - 20:36 | 4553442 FredFlintstone
FredFlintstone's picture

You are dreamin, boy. Time to get back to work. Taxes are due in a month.

Sat, 03/15/2014 - 21:13 | 4553558 Bonapartist
Bonapartist's picture

Yeah- no shit- like all of these tinpot generals are going to give up their cushy pensions and MIC consulting jobs for the "good of their fellow Americans".

Sun, 03/16/2014 - 00:02 | 4553934 scrappy
scrappy's picture

They have kids and grandkids too.

People are people, and human nature is what it is.

HONOR * JUSTICY * MERCY

Sun, 03/16/2014 - 03:45 | 4554166 Canoe Driver
Canoe Driver's picture

And what does reality tell you about how much most people really care about their kids and grandkids?

Sun, 03/16/2014 - 09:42 | 4554222 Tall Tom
Tall Tom's picture

q99x2

 

Do you really believe that the consensus here on ZH, is that Tyler Durden would support, is that we want to be run under a Military Dictatorship???

 

Are you fucking nuts?

 

You need to watch "Fight Club". That is this website is about. Bring the whole damned system down. Let it burn. Project Mayhem. That is diametrically opposed to any order that you are dreaming about.

 

http://viooz.co/movies/1486-fight-club-1999.html

 

(Didn't I include this link???...If you editted it Tyler then please let me know. If you did not then I am a Space Case. Thanks.)

Sat, 03/15/2014 - 20:38 | 4553450 I Write Code
I Write Code's picture

Pretty much.

Also going to require some pretty strong protectionist legislation.

Bring back Glass-Steagall.

Outlaw most derivatives, at least by any bank with federal protection.

Cut back all entitlement programs to about 1980 levels.

Sat, 03/15/2014 - 20:51 | 4553494 seek
seek's picture

Don't forget a ban on fractional reserve banking in any currency. That makes the grifters dead right there.

Sat, 03/15/2014 - 23:00 | 4553813 MsCreant
MsCreant's picture

Make rehypothecation impossible?

This could be a bad idea, but what of a central clearing house where all collateral is "registered" as such somehow? Yeah, pay a small fee to register it. Auditors check it on a regular basis. 

Sat, 03/15/2014 - 23:02 | 4553819 seek
seek's picture

Works well for property and car titles, can't be that hard for other assets.

This could easily be implemented without any laws getting passed -- just imagine if pension funds and IRAs refused to buy unregistered assets.

Sun, 03/16/2014 - 04:00 | 4554189 merizobeach
merizobeach's picture

Sorry, you're using that dirty c-word again: "central".

Mon, 03/17/2014 - 00:29 | 4557400 MsCreant
MsCreant's picture

That was why I was hesitant. I agree there are problems, and auditors can be bought, never mind "them" knowing more than they should about your business.

Sun, 03/16/2014 - 03:47 | 4554169 Canoe Driver
Canoe Driver's picture

It's the fraction that's the problem, not the reserve. As in 1/30, 1/50 Tier 1 Capital ratio. It should be limited to 10:1.

Sat, 03/15/2014 - 21:09 | 4553548 UselessEater
UselessEater's picture

which military? the directly privately owned miliatary or the indirectly privately controlled national-military? or the military tech heads behind crypto-currencies?

 

Sun, 03/16/2014 - 21:50 | 4557044 MeelionDollerBogus
MeelionDollerBogus's picture

Dreaming in LSD technicolour, just like with bitcoin.

The military is paid by the TBTF banksters, they will march into your home with guns drawn and hand it to the TBTF's and shut down the grids you need for bitcoin to work.

Sun, 03/16/2014 - 04:39 | 4554226 Tall Tom
Tall Tom's picture

Goatboy...

 

WATCH FIGHT CLUB and find out who Tyler Durden is. Then you will know.

 

http://viooz.co/movies/1486-fight-club-1999.html

 

This is the agenda behind ZH.

Sat, 03/15/2014 - 20:05 | 4553297 Animal Cracker
Animal Cracker's picture

Does this mean California actually did something right for a change by passing Prop 13?

Sat, 03/15/2014 - 20:47 | 4553479 I Write Code
I Write Code's picture

Basically, yes.  It probably prevented a 2008-like bubble in California, back around 1980.  It's getting nibbled away by time.

Along those lines, I only wish capital gains were indexed to inflation before any discount is applied.  With the indexing the rest could be declared regular income, that would help with "fairness".

Heck, there have been times when I took a capital gain and the capital gains 20% was more than I would have paid if it were regular income (I don't think it discounts, does it?  this was quite a while ago).  And that didn't even account for inflation and was back when inflation was pretty high.

Sat, 03/15/2014 - 21:24 | 4553586 bonin006
bonin006's picture

cap gains do discount now, based on income, but I don't know about in the past.

Sun, 03/16/2014 - 03:52 | 4554172 Canoe Driver
Canoe Driver's picture

Almost all property value "gains" result from currency dilution, i.e., inflation. Therefore, capital gain taxes on real property sales are fraudulently taxing inflation. This results in a slow diminution of actual capital available for investment and ownership, because the base capital is really what is being taxed, since there is little or no real gain. Hence, the mess you see before you.

Sat, 03/15/2014 - 20:05 | 4553301 Just1N
Just1N's picture

Ok...been lurking here for a while but this made me pause.

I have a closing next week...Tampa area. The taxes are still low.

What should I do?

Sat, 03/15/2014 - 20:11 | 4553328 the question
the question's picture

Buying is the right decision, as long as: a) you are planning to stay in that area long-term and b) you are not buying more than you need

Sat, 03/15/2014 - 20:17 | 4553353 Just1N
Just1N's picture

That my plan - so far

Sat, 03/15/2014 - 22:35 | 4553744 DLux
DLux's picture

Just don't buy near the coast. Flood insurance rates going up.

Sun, 03/16/2014 - 21:48 | 4557038 MeelionDollerBogus
MeelionDollerBogus's picture

Because nastier storms and rising sea levels are a reality of global warming. No matter the hoaxers who claim otherwise the reality is here now.

Sat, 03/15/2014 - 20:19 | 4553361 FredFlintstone
FredFlintstone's picture

Good advice generally, but there are areas of Florida with a 44% vacancy rate. If the banks ever decide to unload, prices could drop quite a bit.

Sat, 03/15/2014 - 20:21 | 4553373 HisNameIsRP
HisNameIsRP's picture

Contort yourself into the inverted hucklebuck and kiss your own ass for mama gubment

Sat, 03/15/2014 - 20:32 | 4553416 remain calm
remain calm's picture

Jerk off on the closing documents at the closing especially if the closing agent is hot.

Sat, 03/15/2014 - 21:55 | 4553655 FredFlintstone
FredFlintstone's picture

Sounds like you might have done that or something similar before. Gentlemen, this man knows freedom!

Sat, 03/15/2014 - 23:03 | 4553822 MsCreant
MsCreant's picture

Or incarceration...

Sat, 03/15/2014 - 23:09 | 4553834 FredFlintstone
FredFlintstone's picture

I was trying to be positive, but that thought crossed my mind as well. Extreme freedom followed by incarceration.

Sun, 03/16/2014 - 03:56 | 4554182 Canoe Driver
Canoe Driver's picture

Even as the property tax bias is to the upside, the valuation bias is to the down. Therefore, the tendency will be for you to pay more taxes even as the value of your house goes down. There WILL be another leg down in real estate. Buy, therefore, only if you need the house, or want it as an indulgence. It is simply not viable as an investment at this time.

Sun, 03/16/2014 - 13:01 | 4555152 the question
the question's picture

Valuation bias is to the down only if they stop inflating the currency. We'll see.

Sun, 03/16/2014 - 08:59 | 4554459 dizzyfingers
dizzyfingers's picture

Just1N Remain flexible, don't purchase!! Ownership of a home is a permanent burden; you don't own it, it owns you, by law allows other peoples' hands into your pocket.

Sun, 03/16/2014 - 12:52 | 4555117 the question
the question's picture

"...you don't own it, it owns you..."

Ok but if you don't buy, your landlord owns you. And of course you can move, but that just means the next landlord owns you.

Sun, 03/16/2014 - 21:46 | 4557035 MeelionDollerBogus
MeelionDollerBogus's picture

The fact you can move without a burden of debt sunk into equity is proof you're not owned. No matter where you move or how many times.

Sat, 03/15/2014 - 20:06 | 4553303 Duc888
Duc888's picture

 

 

Funny thing is people think they own their house, or property when they pay it off.                     Sukkerz!

 

Stop paying the hut tax and see who really owns it.  you own the "right to use" it.  Sometimes even if ya live there... Da Man still tells you what you can and can not do...

Want to build a pond on your own land?  Pull the State permits and do everything by the book, and then the Feds will come in and try to fine you $75K a day.

 

http://www.foxnews.com/politics/2014/03/14/wyoming-welder-faces-fine-for...

 

Sat, 03/15/2014 - 20:32 | 4553421 Anusocracy
Anusocracy's picture

Free and clear stands for free to be taxed by the government clear up to the time of your death.

Sat, 03/15/2014 - 21:00 | 4553522 Accounting101
Accounting101's picture

Oh, Fox News. Then it must be true. I'm sure the segment was full of context. Not like those rags MSNBC or CNN.

Sun, 03/16/2014 - 04:02 | 4554194 Canoe Driver
Canoe Driver's picture

The amount of property taxes, i.e., the size of the tax load, is the issue, not the nature of the tax. State imposition on land is in the nature of fee simple title. Land is burdened under our system in order to support the state and to prevent the formation of de facto feudal estates. Only allodial title is absolute. Having said that, no property tax should exceed 1% of actual, demonstrable value, and the imposition should be marked to market annually, by operation of law.

To the extent we have diverged from this, we are running a self-destructive system.

Sat, 03/15/2014 - 20:06 | 4553305 LetThemEatRand
LetThemEatRand's picture

I don't seem to recall electing any of the NWO IMF people who discuss which global tax policy they should impose.  Oh, right.

Sat, 03/15/2014 - 20:07 | 4553312 Animal Cracker
Animal Cracker's picture

It's a "global community" now.

And they are the Community Organizers...soon to be an army of George Zimmermans keeping the peace.

Sat, 03/15/2014 - 21:20 | 4553576 UselessEater
UselessEater's picture

We don't vote on anything of substance these days as you know - what worries me is that the IMF has had a field day in the EU since the GFC so is now practised and endorsed (so-to-speak) to intefere and bankrupt every other western developed nation (US, Can, Aus, NZ, etc) in the next bubble explosion. Once upon a time only the 3rd world had to worry about the IMF.

Sun, 03/16/2014 - 04:57 | 4554260 caustixoid
caustixoid's picture

"I don't seem to recall electing any of the NWO IMF people..."

Yeah, but your elected representatives gave away your rights to unelected transnational bodies.  It's called "Representative Democracy".  This is Social Studies 101 people.

And if we don't like the result we can always elect new democratic representatives who can pull us out of the transnational treaties, thereby incurring ruinous penalties.  So it's not like it's written in stone.

I mean it's not like our overlords can ask each of us individually what kind of servitude we would prefer - that's just impractical.

Sat, 03/15/2014 - 20:07 | 4553307 Gaurden
Gaurden's picture

Lets investigate every single parameter except the the only one that counts.

No more usury.

Sat, 03/15/2014 - 20:07 | 4553310 Spungo
Spungo's picture

Deflation is a serious concern. This is why we need to raise property taxes, which would cause deflation because the real estate market would crash.

Sat, 03/15/2014 - 20:10 | 4553323 mademesmile
mademesmile's picture

Forgot the sarc font?

Sun, 03/16/2014 - 02:13 | 4554095 Mrs. Haggy
Mrs. Haggy's picture

Yes, yes.  TPTB keep reiterating that deflation is so much worse than inflation.  The entire economy would just come to a grinding halt.  I would probably starve myself to death just knowing that if I wait another day I can get that loaf of bread for a penny cheaper.  In fact, nobody would buy anything because everyone is so in-tune with the value of their hard earned money.  So future oriented we all are.  

I'm not from Missouri, but I say SHOW ME!  Show me this deflationary creature and prove that it will swallow me.  I have had a taste of receeding gas prices in the past and I swear I was responsible with it.  I can handle it, really.  Just give me the chance All-Knowing One!

Sun, 03/16/2014 - 08:44 | 4554433 FredFlintstone
FredFlintstone's picture

Yep, I'll try some of that deflation myself. Gimme some!

Sun, 03/16/2014 - 20:41 | 4556817 MeelionDollerBogus
MeelionDollerBogus's picture

Do you even have a clue what that word means?

Is basemoney+credit going down? No. Then deflation isn't here at all.

Deflation requires a drop in available total base-money + revolving credit. Not happening.

Sat, 03/15/2014 - 20:08 | 4553314 HisNameIsRP
HisNameIsRP's picture

blah blah blah we want to double tax rates blah blah blah.  

Fucking commies!

Meanwhile, "the flock", will eat that shit up, "yah fuck those rich guys, they got houses and such, and I don't wahhhhh"

IMF and BHO shove it up your collectivist arses!

Sat, 03/15/2014 - 20:14 | 4553340 HisNameIsRP
HisNameIsRP's picture

BTW on a lighter note Corp Taxes due today, hope everyone filed extensions:(

Sat, 03/15/2014 - 20:32 | 4553417 Winston Churchill
Winston Churchill's picture

Watched them postmark them at the post office this am.

Starve the beast..

Sat, 03/15/2014 - 20:20 | 4553366 El Vaquero
El Vaquero's picture

Think this'll only hit the rich?  People who got into their houses before the housing bubble really heated up may not be rich, but because their house's value is inflated, they'll be considered a target. 

Sat, 03/15/2014 - 20:26 | 4553390 HisNameIsRP
HisNameIsRP's picture

Your average obama voter thinks your rich if you got moar then they, that it, thats why Macdees employees want moar for flipping burgers, case they "deserve" it to supplement the old snap card

Sat, 03/15/2014 - 20:16 | 4553315 One And Only
One And Only's picture

Is Blackrock paying the property taxes on all those homes they purchased?

Honestly... I have no clue. Did they get a special deal with the USG? Were they able to circumvent paying the taxes by purchasing the properties through some derivative contract?

Owning 1 home is a pain in the ass. They have all of their paperwork in order for tens of thousands of homes?

Sun, 03/16/2014 - 00:21 | 4553963 New World Chaos
New World Chaos's picture

Blackrock is a Rothschild operation.  No doubt part of the plan to make Americans bankrupt and homeless serfs in their own country.  These would be good houses to squat in.  Or rent under a fake identity, then default, dick them around for a couple months, and strip-mine the copper the day before eviction.  Works perfectly when the FSA does it to your investment property; wonder what happens if you try to use the Rothschilds' fucked up system against them? 

Sat, 03/15/2014 - 20:09 | 4553318 buzzsaw99
buzzsaw99's picture

great idea. another tax that wouldn't touch bill gates or warren buffett in the least.

Sat, 03/15/2014 - 20:10 | 4553320 Atomizer
Atomizer's picture

Fuck off LaGarde! The only debt sustainability is if you decide to commit suicide. How can you teach this bullshit to upcoming members of society? Becoming debt free releases income into the system to produce growth… you dumb fucking cunt.

Introducing new online course - Debt Sustainability Analysis (DSAx)

Sat, 03/15/2014 - 20:11 | 4553329 ArmyofOne
ArmyofOne's picture

Try living in New Hampshire.  No income or sales tax but a $250,000 house carries $7500 in property taxes and it goes up 5% a year on average.  

 

Can you say ouch mother fuckers.

Sat, 03/15/2014 - 20:14 | 4553344 Just1N
Just1N's picture

It could be worse. In NY (Long Island) you will pay same in property taxes + Income and Sales Tax.

Sat, 03/15/2014 - 20:27 | 4553396 yellowsub
yellowsub's picture

Same in NJ as well, half the property taxes goes to a useless education system...

Sat, 03/15/2014 - 20:33 | 4553427 FredFlintstone
FredFlintstone's picture

In Ohio the teachers retire after 30 years with 2/3 their salary. Retire at 52 and live off the fat of the land for another 40. They used to be able to "spike" thoer package by cashing in sick time. You could effectively get more that 75% in some cases. Ohio could look like Detroit if everybody leaves the state upon retirement and there is nobody left to pay. Major Ponzi operation.

Sat, 03/15/2014 - 21:45 | 4553632 W74
W74's picture

Oh I've been, have plenty of family there.  Ohio is what the Latino folks around here call "El Fucked".  At one time the 4th most populous state, it is currently one of only two actually losing population.  A trip to Ohio will let you know how much of the US's industrial capacity was shipped overseas.

You can buy a decent house there in working (not ghetto ransacked) condition for 20k or so.

But Ohio can make a turnaround if only we can constructively and creatively destroy the overcapacity.  Nice farmland there, strong family values overall; and as a shitbag realtor might say: "has lots of potential".

Sat, 03/15/2014 - 20:45 | 4553470 Accounting101
Accounting101's picture

No reason to be stupid. Stay on topics for which you have knowledge of.

Sat, 03/15/2014 - 20:57 | 4553516 FredFlintstone
FredFlintstone's picture

We all went to school (so we know what goes on there. It is no fucking mystery) and many of us realize what a waste the "educational system" is. 10 percent or more of the population could be K-12 teachers without every having stepped onto a college campus. I sent my 4 to private schools as do many public school teachers. Many public school teachers have no idea what they are preparing the precious children for. They have no clue what it would be like to actually make a living in a competitive environment. I know that I am painting with a broad brush and that there are competent people in the system (perhaps you). They are the exception.

The educational system helps and also destroys.

 

Sat, 03/15/2014 - 21:11 | 4553555 Accounting101
Accounting101's picture

You were in second grade once, so you know all about educating children. You wouldn't last one fucking day in a kindergarten classroom. You would run out of the room after 30 minutes and having wet yourself.

Dumbasses like you are why the middle class in endangered. How fucking arrogant and ignorant of you to defile the worlds most historic and important profession. Teachers educate, help to raise and sometimes die for other people's children. Damn right you are painting with a broad brush.

Sat, 03/15/2014 - 21:17 | 4553566 nmewn
nmewn's picture

"...help to raise..."

Wut?

Sun, 03/16/2014 - 00:29 | 4553977 e_goldstein
e_goldstein's picture

He may have meant 'raze'.

Sat, 03/15/2014 - 21:22 | 4553581 FredFlintstone
FredFlintstone's picture

Profession? Professions are not unionized like in my state. I am not in the middle class and am not a dumbass. My children are not products of the public educaztional system and will be the ones straining to carry the carcass of this fucked up country a little farther. They will be paying in to SS and paying for public pensions after I am gone.

"Wouldn't last one day in a kindergarten classroom"... what a joke. You proved my point that most teachers do not have clue.

Sat, 03/15/2014 - 21:53 | 4553647 nmewn
nmewn's picture

Says a lot about the statist-teacher "professional" mindset, intent on "raising our children"...who think a 6yr old child is something that needs to be overcome, vanquished, indoctrinated.

"Wouldn't last one day in a kindergarten classroom..."...lol...another Happy Warrior...for "Change".

Sat, 03/15/2014 - 21:24 | 4553588 FredFlintstone
FredFlintstone's picture

Are you a man? How's that for an insult.

Sat, 03/15/2014 - 21:39 | 4553619 UselessEater
UselessEater's picture

teachers & schooling.... spend some time researching Tavistock and "modern" day "curriculum". Some teachers may be extremely caring and decent but few think outside their pre-conditioning and many wouldn't last 30 minutes outside the classroom by virtue of being institutionalised. As one who suffered teachers in Zim, Scotland, Holland and Aust..... I spent too much time being re-told my own history in their eyes, never learned about fiat-money and found years later as an adult (when invited for careers-guest speaking) that they hadn't changed much.

Educate your own kids and teach them how to cope with dual-thinking at an early age so they can get along but without being indoctrinated into 'critically' thinking within party lines.

I sympathise with 'awake' parents, you have your work cut out for you.

Sat, 03/15/2014 - 22:09 | 4553683 Georgiabelle
Georgiabelle's picture

Sadly, Fred is correct in his assessment of both the education system in the US and of the perverse incentives built into the teaching profession in unionized states. I have taught at both the middle school and high school levels and I can attest to the rapid decline in standards, achievement and behavor in the schools. The new Common Core is a huge disaster, created by people who have never taught and intended to inculcate the children with dumbed-down NWO PC pablum that will make them all equal----equally unable to function in a competitive world. I have many friends and relatives who are still teaching and, though they all started out as starry-eyed idealists who couldn't wait to "make a difference in children's lives", the vast majority now can't wait to get out. It has become the job from hell and I am truly worried that if things continue as they are we will be facing a mass exodus of all the truly competent people from the teaching profession. The teachers I know say that their administrators make it very clear that they are all disposable for any violation of the ever-expanding list of rules, and most are terrified of the increasingly ill-behaved, angry and litigious students and parents. I won't even sub anymore. It's just not worth the risk.  

Sat, 03/15/2014 - 22:11 | 4553699 nmewn
nmewn's picture

Yes, those administrative positions must be saved at all costs.

Plus one ;-)

Sat, 03/15/2014 - 22:32 | 4553737 FredFlintstone
FredFlintstone's picture

I appreciate that. There are good people in the educational system, but it is the "system" that sucks. My wife taught our 4 children to read before they got to kindergarten. Some of their peers were not so fortunate and struggled in a upscale suburban district. We had to have our oldest do math worksheets at home because they did not teach arithmetic. They expected the children to pick it up playing games with spinning wheels and dice! No shit, this was called Chicago math. We fought it for a year going door to door with other parents, going to school meetings. Ended up leaving and pulling our four children out.

When I hear the word "profession" coupled with "teaching", my blood boils. We witnessed teachers who just did not give 1 shit about the children. That is not professional. I am a professional and I am accountable by law to the public and my clients. I do not see this in public education. My wife volunteered in a 1st grade classroom helping the slower ones learn to read. Near the end of the year the teacher told my wife she was no longer needed as things were winding down. My wife was heartbroken because there were kids who could still not sound out 3 letter words! this was a district that has 96% go on to college. My kids were reading at age 3. If you teach 1st grade and all of the children are not reading at grade level you need to speak up! You need to stand up for the child! Fuck your job, fuck you pension you worthless piece of shit! You should be in jail or at least fired it you look the other way and send that child on to the next grade.

Who cares for children Accounting101? Fuck you! I saved my children from the clutches of people like you. We sacrificed and did it all the while paying taxes to keep the charade going. Public K-12 has played a role in the decline of our society.

My oldest was in 3rd grade and had a boy that was bothering him. Was poking a pencil at his rear and saying that he wanted to have sex with him. He asked my wife what "sex" was. We went to the teacher with this and assured us that she would handle this. When it continued we went to the principal who was a worthless cunt (ex nun, nothing going in upstairs, no respect from any of the teachers). When the teacher heard that we went around her, she flipped out. She all of the sudden felt that maybe my son did not belong in the gifted program after all. Got it fixed that he was no longer in the gifted group that he was a part of for half the year. They said we could test him on our own, which we did. 140 verbal IQ. This teacher was the union representative from the school and felt she was above it all. Un-fucking-touchable. Her husband was big in the firefighter's union. A family of thugs through and through. Real fucking professional.

Went to private schools after that. Not all roses, but at least they were there to serve our children.

 

Sat, 03/15/2014 - 23:06 | 4553828 nmewn
nmewn's picture

You're better off NOT having your child in the honors group. Been there, done that.

Squire nmewn was one of the "lucky ones", we worked it out so Mrs.N could be a stay at home mom. By the time he entered kindergarten he was working on fractions (already could read & write and do basic math) apparently some sort of criminal according to Accounting101.

The long and short of it is, he introduced his teacher Joe _____ as the teacher of the year reading from a prepare text.

The next year, they wanted him (and us) to meet with adminstrators, teachers and school board shrinks for "admittance" to special classes for the gifted...we declined.

He still gets A's & B's...he's normal and acclimated to his his peer group, his age.

Some things, like being able to relate to your peers on their level is more important than being recognized by adults for their self aggrandizementand promotion.

And I will say, during "Joe's" acceptance speech, he recognized Mrs.N as the teacher and her work, not himself. An act of humility on his part that brought the hall down in applause, not a dry eye in the place, because he is a good teacher, of many things.

Small towns are good ;-)

Sat, 03/15/2014 - 23:10 | 4553836 UselessEater
UselessEater's picture

Georgiabelle its not just in teaching.... misinformation designed to dumb down researchers in many fields is linked to the research grants and finance available - big pharma needs 'new' diseases curable only by big pharma drugs with an income stream. Economists are trained to not pin point the real cause of boom-bust cycles.... etc etc

Teaching is a noble profession and is only one of many that has been hijacked by fake regulation which drives up costs and centralises ownership to a core few who obtain tax dollars and benefit from things like the Shock Doctorine applied in the wake of Katrina.

Sat, 03/15/2014 - 20:29 | 4553405 Larry Dallas
Larry Dallas's picture

Long Island. The property taxes keep rising but are the schools worth it?

I know someone who is 39 married teachers with 2 kids who's built extentions onto his house. His taxes plus mortgage eats most of his aftertax income. Its ridiculous.

Then again, he smoked pot and surfed and followed the dead during "college" in Florida... so making 75K-80K a year for him isn't that bad of a deal I guess.

Sat, 03/15/2014 - 22:17 | 4553710 optimator
optimator's picture

75 to 80K for half a year.

Sat, 03/15/2014 - 20:33 | 4553425 Atomizer
Atomizer's picture

Move quickly. It will crush the government pension parasites banking on their redistribution of wealth. Accounts cannot fund the IOU’s allotted, just hasn’t made the MSM news.

Sat, 03/15/2014 - 21:49 | 4553643 Deathrips
Deathrips's picture

Sounds like Greece.

 

How long before they raise property taxes above 10% and shut off your utilities when you cant pay?

 

Fuckin Bullshit.

 

Independence

 

RIPS

Sat, 03/15/2014 - 20:16 | 4553349 FredFlintstone
FredFlintstone's picture

ouch mother fuckers :)

Sat, 03/15/2014 - 20:38 | 4553448 Peter Pan
Peter Pan's picture

"Try living in New Hampshire.  No income or sales tax but a $250,000 house carries $7500 in property taxes and it goes up 5% a year on average.  "

Sounds like you are renting your own home from the government as well as paying the mortgage.

We are now seeing a new development......NEGATIVE OWNERSHIP. This is not to be confused with negative equity.

Sat, 03/15/2014 - 21:28 | 4553595 dexter_morgan
dexter_morgan's picture

Big deal, taxes would be about $8200 for same house in Illinois, AND they have 5% income and nearly 10% sales taxes.

One of many reasons Illinois it at top, or nearly top of states losing population annually. Also home to our esteemed dictator and squatchy wife. It's good to say 'I used to live in Illinois'.

Sat, 03/15/2014 - 22:14 | 4553707 DLux
DLux's picture

NY State is the worst. We also have some of the most generous public sector packages. I'm leaving to never come back.

http://www.usatoday.com/story/money/personalfinance/2013/03/02/state-local-tax-burden/1937757/

http://www.nytimes.com/2011/03/11/business/11pension.html?pagewanted=all&_r=0

You can look at NY state worker salaries/pensions here

http://seethroughny.net/

Sat, 03/15/2014 - 21:31 | 4553602 FredFlintstone
FredFlintstone's picture

$5,000 in Ohio

Sat, 03/15/2014 - 21:35 | 4553605 ricky663
ricky663's picture

Here in S. Thailand the typical annual property tax bill is $2 (50 Thai Baht). And the local land office is so flush with cash (they make most of their income from property sales fees), they haven't even been sending out bills in recent years.
You do have the option of moving from the West if you don't like the continued fleecing. And yes, I realize and acknowledge that this is not a realistic option for most.

Sat, 03/15/2014 - 21:36 | 4553614 FredFlintstone
FredFlintstone's picture

Ah, you are stirring envy in me Ricky old boy.

Sat, 03/15/2014 - 23:44 | 4553898 zionhead101
zionhead101's picture

The USA is a prison, where INMATES are taxed for their room&board.

Get out while your still alive fred, other wise you will die in a cage and be given a bill, and they'll find something to 'tax'.

Life is too short to live in one of these occupied-palestines, .. call it USA, ... or anywhere on earth ran by team-zio, its all the same, fucked for life, and fucked until death.

Sat, 03/15/2014 - 23:48 | 4553905 FredFlintstone
FredFlintstone's picture

Float me a game plan, wise old sage.

Sun, 03/16/2014 - 04:35 | 4554235 zionhead101
zionhead101's picture

Well I mentioned somewhere else here, I don't know how old you are, but I fond of telling the young, buy all the houses you can when young on 15 year fixed, say you buy from 20-25, and then when you turn 40, you have lots of house's all rental income free with no MTG, if you have a HIGH property tax place, for gods sake run,

Choose a place that has UNIV where you can get good  teachers or a good hospital or schools, never rent to the kids, rent to the professionals,

Remember the gig is only about getting the other guy to pay off your MTG in 15 years, and then you sell all and get the fuck out of dodge when your still young.

 

Sun, 03/16/2014 - 08:41 | 4554428 FredFlintstone
FredFlintstone's picture

Barreling towards the big 5-0. Sitting on cash like a nervous squirrel on a pile of acorns. I thought about that strategy, but I just don't the like the idea of being stuck in one place, which doesn't make sense because I have lived in the same general area for 30 years.

Sun, 03/16/2014 - 20:29 | 4556783 MeelionDollerBogus
MeelionDollerBogus's picture

Lots of Americans are arriving here in Canada never to return.

Sun, 03/16/2014 - 20:38 | 4556807 FredFlintstone
FredFlintstone's picture

Too damn cold up there. How do you manage?

Sun, 03/16/2014 - 22:55 | 4557199 MeelionDollerBogus
MeelionDollerBogus's picture

We have hot rocks in our igloos.

Seriously, we do actually have natural gas, good insulation & in the southern half of Canada it's not any colder than what you'd find in New York state.

Ya if you want to dare live in the NORTHERN half, or if you dare Winterpeg's -60 C then sure, that's a level up harder for the mission.

Just think of the bonus. While not being nearly as hard as people think, plus everyone's ready for winter every year so we always have regular plows and lots of salt, the majority of Murrikinz who are assholes are too scared to try it so they won't be here.

As in a large deficit of assholes.

Ya, we have homegrown assholes but not nearly as many as Murrika.

Think about it. Coldest I faced this winter was -25 C without wind, windchill brought it to -35 C equivalent. I guess in Farenheit that's -37 F in the wind -32 F without it. That cold stretch was the polar vortex storm. Plus my city had an actual ice storm again which shut down half the electric grid and 80% of the roads but only for a day.

Ever heard about how Canadians are always so nice? To the point where it seems silly to Americans? It's because we don't deal with a huge number of assholes on a regular basis. I've just innoculated myself against the worse contingency by exposing myself to Zerohedge which is primarily frequented by Americans.

Mon, 03/17/2014 - 02:58 | 4557533 merizobeach
merizobeach's picture

"Ya, we have homegrown assholes but not nearly as many as Murrika."

Of course not: Canada has only 12% the population of the USuckAss.  Per capita, though?  Different story.  Take those douchebags from Vancouver, for example.  I have never met a more metrosexual group of arrogant dumbasses anywhere.

Tue, 03/18/2014 - 02:20 | 4562045 MeelionDollerBogus
MeelionDollerBogus's picture

But they're not assholes. Annoying: yes. Foolish: yes. But assholes, actually fucking your shit up repeatedly and with cruelty, reckless abandon and pride, just to enjoy your suffering? No. They're merely elitist pricks or beyond-liberal dumb shits. Meh. Hardly a real threat. An asshole can be a real threat. These fucks you speak of my near-homo you to boredom-death or annoyance but not an actual threat.

Wed, 03/19/2014 - 05:48 | 4566776 merizobeach
merizobeach's picture

A succinct insight and viable semantical distinction.  ;-)

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