The Absurdity

As the housing crunch continues, people are struggling to make ends meet. In Mountain House, California many are having trouble even paying their mortgages. Declining housing values are setting in fast.

The Martinezes bought their house in early 2005 for $630,000. It is now worth about $420,000. They have an interest-only mortgage, a popular loan during the boom that allows owners to forgo principal payments for a time.[emphasis added]

But these loans eventually become unmanageable. In 2015, Mr. Martinez said, his monthly payments will be $12,000 a month. He laughed and shook his head at the absurdity of it. [emphasis added]

Umm....excuse me!? $12,000 A MONTH!? First of all, why did you take an interest-only mortgage? Second, what is this "absurdity" you're laughing at? Hindsight that taking an interest-only mortgage was a bad idea, or are you laughing because you think it's ridiculous that these things even exist. Martinez goes on to say,

But Mr. Martinez acknowledges that it has entered his mind to turn his house back over to the bank. “By next June, if things aren’t better, I’m walking,” Mr. Martinez said.

Ummm, I'm pretty sure it's not going to turn around that fast. Now, while I feel for these people, it's hard to validate buying a $600k home using an interest-only mortgage. Why are you trying to forgoe the principle payments?! They're still going to be there. Again, not a finance major, but I'm pretty sure interest is structured based on the principle amount of the loan.

All I can say is, I'm glad I left California. The American dream seems to be dying there.

source: NY Times

(5) Songs to Listen to - 11/11/08

1) Back Like That (Remix) f/ Ne-Yo - Kanye West
2) The World Has Turned and Left Me Here - Weezer
3) The Meantime - Spacehog
4) Take Me to the Hospital - The Faint
5) Cheated Hearts - The Yeah Yeah Yeahs

Carmelo Might Get Fat

Melo's personal chef may be going to the House. The WHITE HOUSE

Currently, Daniel Young waits amongst three other chefs to possibly serve as the White House Chef. That must be awesome, regardless of who the president is. Apparently, he cooked for President-Elect Obama during the Democratic National Convention in Denver.

Chef: Daniel Young

Young cooked for Obama at the Democratic National Convention.

Current Job: Personal chef to Denver Nuggets forward Carmelo Anthony.

Signature Style: Young is a fan of using spices to bring out the flavor in low-calorie dishes. His signature dish is seafood stew with crab-stuffed chicken breasts

The good news, he sounds like a good chef (seafood stew!? crab-stuffed chicken breasts!?). The bad news, Melo will probably put on more pounds. But then again, I don't care.

On a side-note, the other two in the running currently own and operate restaurants in the Chicago area. So if Obama really wants change, he goes for Young. Right?

source: Daily News

Get Your Starbucks

Stock.

Starbucks isn't doing so well. Maybe it's because they charge exorbitant prices for coffee. Just a guess.

Net profit for the fiscal fourth quarter ended September 28 dropped 97
percent to $5.4 million, after Starbucks took $105.1 million in charges related
to its restructuring and turnaround efforts.

No, that's not a misprint. Ninety-seven percent drop. Wow. Maybe you need to drop your prices and close the Starbucks located on every other block and inside the mall in between those two blocks. Not that I'm some whiz of a financial advisor, but I think you've over-saturated the market a-la MF Doom, who dropped 5 albums in 2004 and 15 total since 2001. So, in summation, Starbucks is to coffee what MF Doom is to indie rap (I never was good at those analogy sections on those standardized tests).

I Would Like the Be This Panda

It's having a freakin BLAST

via fellow Panda, Laura

A View to an Appetizer (or side-dish)

Finally, they got it right. Bacon > Fries. EVERYTIME.
In other news, Orthodox Jews are not happy with the results.

Digital Conversion

thank you jackie.

Got SWATTED!

How does a 7'6" dude get swatted by a 6'6"/6'7" guy?



That's how kids....

(10) Songs to Listen to - 11/10/08

1) Because They Made It That Way - Sleepyheads - Mr. Lif
2) The Narrow Path - Below the Heavens - Blue and Exile
3) Superconnected - Broken Social Scene - Broken Social Scene
4) Slow Country - Gorillaz - Gorillaz
5) February Stars - the Colour and the Shape - Foo Fighters
6) Exchange - Mezzanine - Massive Attack
7) Those With Big Egos - The Chronic 2001 - Dr. Dre
8) Somebody to Love - White Rabbit and Other Hits - Jefferson Airplane
9) Sympathy for the Devil (live cover) - David Byrne
10) Fire - Put it on the Line - Ghostface and Trife da God

What A Bummer

http://www.chron.com/disp/story.mpl/front/6104542.html

An elephant at the Houston Zoo died this past weekend. He was 2.

Mac, an Asian elephant whose birth was a cause for celebration at the Houston Zoo scarcely more than two years ago, died Sunday night after a brief battle with the elephant herpes virus, zoo officials said this morning.

"The entire zoo staff is absolutely devastated," said zoo spokesman Brian Hill. "It's difficult to put into words and describe the attachment that has developed over the past two years.

"This is a terrible loss, especially for the elephant keepers and veterinary medical staff who cared for Mac during his time with us," Hill said.

Sad day. Here are some photos of Baby Mac.