Realtors Crying Because The New Rules Are 'too tough'

Looks like the National Association of Realtors® (NAR) is really getting squeezed. Two stories out in the last week demonstrate that they pine for the old days where they could take their 5% of ridiculously inflated prices and live like kings. Take for example:

• Realtors are upset about new rules requiring that appraisals be done without any pressure from mortgage originators. They call them 'faulty' because the old way, letting appraisers value a house at whatever it was listed for, worked out so well (for them).
• They're also upset that those big old mean banks are refusing to eat millions of dollars in short sale losses. They think the banks are being too harsh on the poor home owner who wants to bail on their mortgage and leave the bank to absorb $10,000 - $100,000 + worth of bad debt. The NAR of course, is upset because they're not getting their 5% on the short sale. They say that only by reducing housing inventory will the market get healthy again. I note that they are not willing to split the loss with the bank to help 'reduce the inventory'.

I'm sure the NAR is probably getting lots of sad calls from their membership indicating the trouble they are having paying their Lexus/Mercedes lease payments with the market being what it is. But the idea that the NAR is even slightly concerned about the economy at large is laughable. Banks cannot afford to lose all this money any more than the NAR can and the faulty appraisals were a primary facilitator of what got us into this mess in the first place!

Opera May Be On To Something....Big

Opera, the 'also ran' browser of late, may have finally hit onto something big. They promised to reinvent the web, and while I'm not prepared to go that far, I will say what they've done will no doubt have Firefox, IE and Chrome scrambling to copy it's features. Their new product, Opera Unite is here:

http://unite.opera.com/

What does it do that's so cool? Well it basically turns your PC into a server.....easily with point and click "services" that you install (it appears most of what they have now comes with the initial download). For example you can now, super easily:

• Set up a file server and send just a URL to your friends to have them download files. Imagine sending grandma a URL where she can download your family photos, all (at least for now) securely.
• Actually host websites from your PC (your Internet service provider may not be all that happy...)
• Set up a photo sharing site (similar to the file server
• Access your PCs music library and play those files from anywhere over the Internet.
• Set up a private chat room with your friends.
• Set up a virtual 'fridge' for your friends to leave notes

And that's just for starters. I'm sure there are going to be bugs. But rest assured that people at Mozilla Firefox, Google and ID are scrambling right now to copy these very cool features.

It's now available for Windows, Linux and Mac.

Do you whistle while you work?

Then please stop. It's annoying.

Stock Market Prediction: Take Two

Ok, Here goes my second prediction on the stock market. Back in October I predicted the DJIA would fall to 7,500 within 30 days. It did lose 481 points during that period, but wasn't as bad as I had predicted. But I did note that on March 6, 2009, it was only ~100 points from my previously rediculous sounding prediction. I figure my timing is a bit off.

So here's my second go. In the next 90 days (including the 90th day...a larger time frame to account for my inaccuracy) the DJIA will drop to or below 6,500 at least once.

Today's close was: 8,612.13

I guess we'll see on 9/14/2009 or sooner.

You Know It's A Crazy, Mixed Up World

When one of the primary tools of a police state, surveillance, comes back to haunt the police. In the last few weeks, I've seen a couple of stories that highlight the new danger police face: Someone is almost always watching you.

We first really saw its power in the Rodney King case, but now surveillance cameras (aka "security cameras") are becoming ubiquitous. It's getting to the point where a corrupt cop can't even go about his/her business without having to deal with perjury charges. Take for example these two recent cases:

• Drug suspects’ defense against NYPD? Video
• Accused of lying, officer suspended
• Surveillance video shows police beating man in elevator (more on this one "But after seeing the video obtained by Ortiz's defense attorney, Stephen Melnick, prosecutors downgraded the charge to a misdemeanor resisting charge. Upon further review, prosecutors dropped the case entirely". And of course the kicker: "Fort Lauderdale police internal affairs investigators reviewed the incident more than a month ago and found no violations of policy or procedures, said Sgt. Frank Sousa, the department's spokesman."

So how is it going to be fixed? Your guess is as good as mine. For the hand-held camera, we have already seen that police are very willing to arrest the camera-man for interfering with 'police business'. However, stationary cameras present a unique problem. I think maybe we'll see a wave of Security Camera Legislation requiring a lengthy process to get a permit from the police to use a security camera. But until then, I'm sure these stories will just keep on rolling in.

Chinese Company to Buy Hummer

Well, I hope they know that Hummers get like 8 MPG. But this is the clearest example that the Chinese are going to cash in their dissolving dollars for real assets.

Americans are going to have a hard time swallowing the idea that to get better, we must sell off the last manufacturing capability we have and become totally dependent on China.

An American MP Scandal?

Looks like the Wall Street Journal is trying to follow in the footsteps of the Daily Telegraph in pointing out the misuse of taxpayer money by politicians. Let's see if the spark catches.