US mortgage applications remain weak despite rising home prices

Fierce bidding wars for homes in the nation’s capital are slashing applications from borrowers interested in taking out a purchase mortgage, an industry group said Wednesday.

Around the country, rising mortgage rates over the past year have cut applications for loans to buy a home, with the latest weekly reading on a U.S. gauge from the Mortgage Bankers Association showing a 5% drop from the prior week (as seen in the chart). But in hot markets like Washington, where there’s a low supply of homesavailable for sale and borrowers  haven’t been put off by pricier loans, would-be mortgage applicants are still giving up on borrowing.

“Some lenders continue to report that they have pre-approved borrowers who have been unable to find a property given the tight inventory in certain markets,” said Mike Fratantoni, MBA’s chief economist.

Just how hot is D.C.’s market? More than one-quarter of homes sold in May closed above their list price, according to Redfin, a real estate firm. But that statistic pales in comparison to the scorching markets in San Jose and San Francisco, where almost 70% of homes sold above their asking price.

Elsewhere in the country, rising rates are taking a toll on loan applications from borrowers who have become priced out of the market. Plus, borrowers still face the extremely high standards that lenders erected in the wake of the financial crisis.

Source: WSJ

The truth on interracial rape in the United States

By Lawrence Auster

Like Ahab’s search for the Great White Whale, liberals’ search for the Great White Defendant is relentless and never-ending. When, in 1988, Tawana Brawley’s and Al Sharpton’s then year-old spectacular charge that several white men including prosecutor Steven Pagones (whose name Brawley had picked out of a newspaper article) had abducted and raped the 15 year old was shown to be completely false, the Nation said it didn’t matter, since the charges expressed the essential nature of white men’s treatment of black women in this country. When the Duke University lacrosse players were accused of raping a black stripper last year, liberals everywhere treated the accusation as fact, because, just as with the Nation and Tawana Brawley, the rape charge seemed to the minds of liberals to reflect the true nature of oppressive racial and sexual relations in America.

To see the real truth of the matter, let us take a look at the Department of Justice document Criminal Victimization in the United States, 2005. (Go to the linked document, and under “Victims and Offenders” download the pdf file for 2005.)

In Table 42, entitled “Personal crimes of violence, 2005, percent distribution of single-offender victimizations, based on race of victims, by type of crime and perceived race of offender,” we learn that there were 111,590 white victims and 36,620 black victims of rape or sexual assault in 2005. (The number of rapes is not distinguished from those of sexual assaults; it is maddening that sexual assault, an ill-defined category that covers various types of criminal acts ranging from penetration to inappropriate touching, is conflated with the more specific crime of rape.) In the 111,590 cases in which the victim of rape or sexual assault was white, 44.5 percent of the offenders were white, and 33.6 percent of the offenders were black. In the 36,620 cases in which the victim of rape or sexual assault was black, 100 percent of the offenders were black, and 0.0 percent of the offenders were white. The table explains that 0.0 percent means that there were under 10 incidents nationally.

The table does not gives statistics for Hispanic victims and offenders. But the bottom line on interracial white/black and black/white rape is clear:

 In the United States in 2005, 37,460 white females were sexually assaulted or raped by a black man, while between zero and ten black females were sexually assaulted or raped by a white man.

What this means is that every day in the United States, over one hundred white women are raped or sexually assaulted by a black man.

The Department of Justice statistics refer, of course, to verified reports. According to the Wikipedia article on rape, as many as half of all rape charges nationally are determined by police and prosecutors to be false:

Linda Fairstein, former head of the New York County District Attorney’s Sex Crimes Unit, noted, “There are about 4,000 reports of rape each year in Manhattan. Of these, about half simply did not happen…. It’s my job to bring justice to the man who has been falsely accused by a woman who has a grudge against him, just as it’s my job to prosecute the real thing.”

No wonder there was such absolute belief in the guilt of the Duke students among the leading sectors of liberal America. A drug-addled, half-deranged, promiscuous black stripper accused three young white men of raping her. There are virtually zero rapes of black women by white men in the United States, and half of all rape charges against specific individuals turn out to be false. But in the gnostic, inverted world of liberal demonology, the white students had to be guilty.

Meanwhile, in the real America, week after week, the newspapers report the rapes of white women by black men—though, of course, without ever once using the words, “a white woman was raped by black man.” Just last week in the New York Post there was a story about a serial black rapist who invaded women’s apartments on Manhattan’s Upper West Side; you knew the rapist was black from a police drawing accompanying the story, and you knew the victims were most likely white from the neighborhoods where the attacks occurred. But even when news media’s reports of black on white rape make the race of the perpetrator evident (which the media only does in a minority of instances), no explicit reference is ever made to the racial aspect of the case. Each story of black on white rape is reported in isolation, not presented as part of a larger pattern. There is never the slightest mention of the fact that white women in this country are being targeted by black rapists. In the inverted world of liberalism, the phenomenon does not exist.

Lawrence Auster is the author of Erasing America: The Politics of the Borderless Nation. He offers a traditionalist conservative perspective at View from the Right.

First Data in $3.5B private investment led by KKR

First Data announced on Thursday that its parent has received commitments to purchase about $3.5 billion of equity in a private placement, led by KKR. The proceeds will be used to repay portions of the company’s debt.

The private placement includes $1.5 billion from existing investors and $2 billion from new investors, including pension funds, mutual funds, asset managers, and individuals. KKR provided roughly $1.2 billion, First Data said.

KKR’s balance sheet will have approximately $1 billion invested in First Data’s equity.

“We have taken full advantage of the last 12 months to strengthen our company through a total focus on serving our clients and bringing them new innovations that help them grow their business,” Frank Bisignano, chairman and chief executive officer of First Data, said in a statement. “The new investment will unlock $375 million per year to help us accelerate our transformation.”

Amazon launches its ‘Fire’ smartphone

Amazon announced its first smartphone today, a bold move into a segment currently dominated by Apple and Samsung. At an event in Seattle, CEO Jeff Bezos unveiled the Fire Phone, a smartphone with a 4.7-in. 3-D display, a 2.2-GHz quadcore processor, a 13-megapixel rear-facing camera and 2 GB of RAM.

The device, which has a heavy focus on multimedia, will offer unlimited photo storage and a dedicated button to launch the camera app. It will be sold exclusively on AT&T’s network at a price of $199 for a 32-GB version with a two-year contract or $299 for a 64-GB version. Amazon is also throwing in a free year of Amazon Prime, its customer-loyalty program (existing Prime members will get a bonus year tacked onto their current subscription).

The device is currently available for preorder on Amazon’s website and will begin shipping on July 25.

The new phone is designed to be tightly integrated with Amazon’s myriad services. The company’s Instant Video service will be preinstalled on the device, as will Amazon’s newly launched music-streaming service. The phone will also come with a new program called Firefly, which allows people to scan objects, songs and TV shows (sort of like an all-purpose Shazam app) so that Amazon can identify them and offer a way to purchase them from its store. In total Firefly can recognize 100 million items, Bezos said. “Fire Phone puts everything you love about Amazon in the palm of your hand,” he said in a press release.

The phone’s 3-D capabilities are its most unique feature. Through a technology dubbed Dynamic Perspective, the Fire Phone uses four cameras placed on its front face to track a person’s head movements at all times. This allows the phone to offer a real-time 3-D-like display that presents more depth to images than a typical smartphone screen. During the event, Bezos demonstrated the phone’s map app, which showed looming skyscrapers leaping off the screen, as well as an app that allowed the user to sort through dresses as if they were in an actual 3-D space. The phone’s motion sensors allow users to scroll within certain apps by tilting the device rather than touching the screen.

Like the Kindle, the Fire Phone will run on a modified version of Android and support some apps native to Google’s operating system. Popular apps such as Instagram, Facebook, Netflix, ESPN and HBO Go should be available for the device when it launches. Amazon has also released development tools to allow companies to make apps that make use of Dynamic Perspective and Firefly.

The device demonstrates Amazon’s growing interest in creating hardware. In addition to its popular line of Kindle e-readers and tablets, the company released its first set-top box, the Amazon Fire TV, earlier this year. The company has always been reticent to disclose just how successful its hardware ventures are — Bezos said today that there are “tens of millions” of Kindle owners, and there’s no real data on Fire TV sales — but smartphone sales dwarf those other segments. More than a billion smartphones were shipped globally in 2013, with Samsung and Apple controlling nearly half the market between them.

Amazon will face an uphill battle taking on those two giants, but the company has a history of eschewing profits to smother competitors in other markets. They may be embarking on a similar strategy today — the 32-GB version of the Fire Phone, for instance, will sell for $100 less than a similar model of the iPhone 5S. – Time.com

Slave children allegedly make chocolate

Lawsuit alleging that Nestlé, ADM and Cargill benefit from child slavery in their cocoa supply chain in back in court, throwing new light on decades-old concern that the chocolate industry is built on the backs of slave children

Swiss multinational Nestlé, the largest food company on the planet—and anybody who consumes their products—has a chocolate problem.

More specifically, they have a child slavery problem.

Since the late 1990s, allegations have continually surfaced that the company benefits from slave children in its supply chain, and that slave children are used in its cocoa production in West Africa.

The allegations—including reports from UNICEF and the US State Department—brought enough attention and heat, including coverage from the BBC, that Nestlé’s CEO Bradley Alford signed an international agreement to end cocoa child labor in 2001, but by 2005 had not met the agreement’s deadline for eliminating the worst child labor offenses from the company’s supply chain.

In the same year, the International Labor Rights Fund filed a class-action lawsuit on the behalf of three children from Mali who claimed that between 1994 and 2000 they had been lured into Côte d’Ivoire by child traffickers promising them easy work for good pay, subsequently enslaved on a cocoa plantation and regularly beaten. The lawsuit was later amended to name three companies as complicit in the chocolate-production slave trade: Archer Daniels Midland, Cargill and Nestlé itself.

Source: Ultraculture

ISIS Inc, Jihadists attract investors

The notorious ISIS, which has been slicing through Iraq moving closer to Baghdad, behaves like a big corporation, issuing press releases to create an image of a well-structured, disciplined and effective organization to attract investors and new members.

The Islamic State of Iraq and Syria (ISIS/ISIL), which has made lightning advances against government forces seizing key cities, is determined to sweep towards Baghdad.

In just a few days ISIS fighters have almost reached the Iraqi capital, killing scores of people along the way. During the US-led invasion of the country it took the allied forces 22 days to reach Baghdad.

ISIS emerged back in 2004 following the chaos of invasion from radical Sunni jihadists, whose main objective is to establish an Islamic caliphate based on Sharia law.

Manipulating religions tensions in the country between Shias and Sunnis, they were able to unite followers of Saddam Hussein Ba’ath party, a Sunni dominant force. By 2011, ISIS militants regrouped after Nouri al-Maliki’s government released high-profile members of the militant movement.

Today ISIS claims to have over 15,000 fighters most of who are thought to be from neighboring middle eastern countries, but around 2,000 are believed to have come from Europe, including Britain.

In the militant’s own assessment, found in an annual report called al-Naba, or “the news”, ISIS boasts of its destructive force. A regurgitated version of the report, covering the period of November 2012 to November 2013, is offered by the US-based Institute for the Study of War (ISW).

Originally in Arabic the 400 page long document was initially published by the I’tisaam Media Foundation. It is also the second known ISIS release advertising their bloody rampage in Iraq.

The Institute for the Study of War summary also claims that “From the period of April 2013 through to the present, ISIS has been operating in Syria as well, though the distinctions between their military operations in Iraq and Syria is the subject of ongoing study at ISW.”

In its conclusion, the institute believed the organization is making several nation-wide changes to its tactics. “This is a strong indication of a unified, coherent leadership structure that commands from the top down.”

The report has been described as “almost like a company with details of martyrdom operations and targets,” by Nigel Inkster, former assistant chief of UK intelligence service MI6, in an interview to the Financial Times. “You have a clear overlay of structure, planning and strategy to the organisation.”

“ISIS is an extension of Al-Qaeda. With American funds, now ISIS is killing Iraqis and planning to go for Baghdad and Iraqi Shiite shrines to settle an old score,” Elijah Abraham, an Iraqi Christian evangelist told Baptist Press. “Since 2009 with President Obama’s policies in the Middle East, there has also been a systematic cleansing of Christians in the Middle East.”

Washington which spent $25 billion to train Iraq’s security forces over the years, according to a report by the special inspector general on Iraq, now finds itself at ground zero – Islamists are taking over Iraq.

Source: RT

Ebola death toll hits 337

The death toll in west Africa’s three-nation Ebola outbreak has risen to 337, the World Health Organization said Wednesday, making it the deadliest ever outbreak of the haemorrhagic fever.

The new toll marks a more than 60-percent hike since the WHO’s last figure on June 4, when it said 208 people had succumbed to the deadly virus.

Including the deaths, 528 people across the three countries have contracted Ebola, one of the deadliest viruses known to man, the WHO said.

A majority of cases, 398 of them, have surfaced in Guinea, where west Africa’s first ever Ebola outbreak began in January.

Sierra Leone has registered 97 cases in total, while Liberia has seen 33.

That outbreak, until now the deadliest, killed 280 people, according to WHO figures.

Source: Yahoo

Gay security village planned in the Netherlands

The Netherlands ranks as one of the most gay-friendly societies in Europe.

A Dutch scheme to build a utopian gated neighbourhood exclusively for the gay community has met with mixed reactions.

The project dubbed “Gay Village” by developers aims to give members of the lesbian, gay, bisexual, and transgender (LGBT) community a prejudice-free environment with luxuries including tennis courts and a cooking school.

But opponents warn that the plan amounts to the ghettoisation of people who should be able to feel safe without hiding behind locked gates.

Developers propose turning a patch of forested land on the outskirts of Tilburg into a gated community created with input from potential residents. The average price of a home would be €250,000 (£200,000).

“We go further than just housing,” the Gay Village website says.

The motivation for the project was “discrimination and violence against members of the LGBT community”, the website said, creating the “need for a neighbourhood… which gives a greater sense of social cohesion and security”.

The Netherlands ranks as one of the most gay-friendly societies in Europe.

The plan has won the backing of Tilburg’s mayor, Peter Noordanus, who said: “A tolerant city is pleased to have a gay community within its borders.”

The developer proposing the idea has created an online survey to gauge interest from a sector of society often courted for its disposable income.

Amsterdam has a retirement home for the LGBT community and similar projects are underway in France, Spain and Sweden. The United States is already home to several communities aimed at attracting the pink pound.

Source: The Independent

 

IT expert retrieves Glynnis Breytenbach’s deleted letters

Breytenbach once a prosecutor for the National Prosecuting Authority

The final report on Glynnis Breytenbach by the National Prosecuting Authority’s Integrity Management Unit reveals details of her personal relationships with a client and advocate, mentioning their international travel and her feelings towards them.

The report said most of the allegations about her relationships with billionaire Nathan Kirsh and advocate Andre Bezuidenhout were retrieved from deleted letters on Breytenbach’s NPA-issued laptop. The letters were retrieved through an IT expert.

The report refers to four letters she had allegedly addressed to Bezuidenhout dated between September 2010 and August 2011.

In a letter dated September 14, 2010, Breytenbach thanks Bezuidenhout for the wonderful time she had with him in Morocco.

In closing, she says Bezuidenhout is “simply exceptional, an amazing friend and kind beyond words”, and that she “loves him more than he can imagine”.

The report says Breytenbach wrote a letter in support of the application by Bezuidenhout to the Bar Council for silk status.

The report then goes on to describe how Breytenbach became involved in an alleged drunk-driving case involving Bezuidenhout’s son Jandre and another case involving the son of Bezuidenhout’s friend.

It states that Breytenbach travelled extensively abroad on private and business trips, going numerous times to London and Jersey for investigations relating to Kirsh’s complaint. She was with Bezuidenhout on at least one trip to London.

“The overseas travels are a concern in that she seemed to have met and or interacted with witnesses in some of the major cases without the knowledge of the investigators, as Nel (Gilounne) alleged, and in some cases her meetings were not in the interest of the state,” the report said.

It also said a letter from Kirsh alluded to a number of trips, one of which was a trip to the Bahamas.

“Kirsh also suggested that he can arrange that they meet with Michael Tannenbaum at Kirsh’s house in France away from all the fuss and bother… Kirsh also intimated that he can send a private jet to fly her in and back home again.”

According to the report, an investigator of the Directorate of Special Operations, Nel, said he was “disturbed by the apparent close relationship between Breytenbach and Kirsh”.

Source: IOL

 

‘Design Capital Cape Town’ is a bought scam

Human Settlements Minister Lindiwe Sisulu has launched a scathing attack on the DA-led City of Cape Town, accusing it of “spending millions… on a scam called the Design Capital”.

She accused the city of buying the title.

In her address to Parliament during the debate on the State of the Nation address on Wednesday, Sisulu castigated new DA parliamentary leader Mmusi Maimane for saying that his party governed better.

“In this province, where the DA governs, R30 billion was spent on consultants, no doubt white cronies of the DA government. In this province, we have scam after scam that is readily covered up with the complicity of the media. Millions are spent by the City of Cape Town on a scam called the Design Capital. These millions could have been spent on shelter and proper sanitation.”

She pointed fingers at the city council for “paying the judges of the Design Capital award”.

“Maybe honourable Maimane can explain to the taxpayers of Cape Town why the DA bought the title, how much they paid for it, how much it is still costing and how much it will cost over the next three years. And how this can be defined outside the context of corruption and wasteful expenditure?”

Cape Town is halfway through its year as the World Design Capital. The Cape Town Partnership started the bid for the title, conferred every two years by the International Council of Societies of Industrial Design, a non-profit organisation that promotes industrial design.

Source: IOL

‘It’s punch a black week’

The company has been systematically “ethnically cleansed” of non-white staff.

One of Britain’s largest military outsourcing contracts might be awarded to company facing charges of racism.

Sodexo, a multinational company, is the frontrunner to win a contract to run six military bases in the Mediterranean. The deal is worth up to £100m over three years.

The winner will be announced next month.

The company’s highly lucrative defence division is facing claims that its personnel department, which is meant to police employees’ behaviour, has been systematically “ethnically cleansed” of non-white staff.

An employee was actually hit by her director who said it was “punch a black week”.

Under public contracts regulations, a public body may exclude a bidder or reject a bid where it is found the organisation has “committed grave misconduct in the course of their business”.

At the defence department’s Colchester offices, one black employee complained she was told that certain rooms and corridors in the personnel department were out of bounds because they were for “whites only”. This she says was dismissed by executives as “banter”.

Black staff felt they were being labeled as “lazy”. The company is also accused, by at least one employee, of “creating and inciting a hostile climate of distrust against difference”.

In one instance, a white male executive allegedly had to remonstrate with a junior colleague who, upon the arrival of a black employee, said: “There is another black one, they are taking over.”

In October 2012 an African-Caribbean female manager was punched by a top executive of the defence division, who was a white man. When she asked why he had done this, he responded: “It’s punch a black week.”

Another two non-white female employees of the human resources department are currently taking the company to court over claims of racism and sexism.

In the first case, a black female personnel adviser claims she was ostracised by members of her team. During an investigation into homophobic bullying in June last year, it is alleged, a colleague bemoaned to her the fact he could not use the “n-word” any more for fear of offending people.

Source: The Guardian

Narcissists nail job interviews

We all remember from Greek myths about the guy Narcissus, who fell in love with his own reflection, how unpleasant and hard such people are to deal with, especially at work – they believe they are the center of the universe, and actually, manage to convince others in this. However, one new piece of research suggests that narcissists are much better at job interviews.

A new study from the University of British Columbia in Canada shows narcissists to be the best performers in job interviews – and more successful “than equally qualified candidates who act more modestly,” The Telegraph reports.
“A job interview is one of the few social situations where narcissistic behaviors such as boasting actually create a positive impression,” said Del Paulhus, Psychology Professor at the University of British Columbia and the study’s lead author. “Normally, people are put off by such behavior, especially over repeated exposure.” While people hate such behavior in real life, this works in an interview when one has to promote oneself and boast around in a confident manner – “narcissists tended to talk about themselves, make eye contact, joke around and ask the interviewers more questions. As a result, the study found that people rated narcissists as more attractive candidates for the position,” said the study published in Journal of Applied Social Psychology.
“They are very comfortable with self-promoting, and the job application situation is one where you really do have to self-promote. People who are natural self-promoters are going to have an advantage and modest people will be at a disadvantage,” Paulhus told CBC.
The study involved videotaping 72 applicants, half of them of Asian heritage (to have various cross-cultural backgrounds) simulating a job interview. After this, a team of expert and non-expert HRs, were asked to rate their performance and say which of the applicants they were most likely to hire.
Before participants were placed in the job interview scenarios, researchers measured their levels of narcissism using a standard questionnaire called the narcissistic personality inventory questionnaire.
The experts observed that narcissists tended to talk about themselves, make eye contact, joke around and ask the interviewers more questions.
Interestingly, the findings also showed that job seekers of Japanese, Chinese and Korean heritage, cultures with traditional modesty, exhibited lower levels of narcissism and were less likely to be “definitely hired.”
People of European descent were most likely to be hired and most likely to demonstrate bragging or other narcissistic traits – no matter if they were men or women.
“People from Western cultures seem to be more predisposed to telling how good they are, while people from more modest cultures like East Asia seem to be very uncomfortable. They were raised to feel uncomfortable by bragging,” Paulhus said.
When narcissists were interviewed by someone who knew more than they did, they become even bigger braggarts.
“Narcissists actually increased their self-promotion in the face of an expert interviewer,” Paulhus said.
Thus, the study has substantive implications for human resources and managers, as well as for job candidates
Paulhus said that employers must learn to look beyond self-presentation in evaluating job candidates, as well as selecting interviewers who can focus on what they want from an employee, rather than exterior qualities, Forbes reported. For job applicants, the message is different — a little self-promotion is the number one must-learn skill.
“If you’re a naturally modest person, you might want to try to be a narcissist for the day and maybe practice self-promoting. Even though you feel uncomfortable with it, you’ve got to do it for this one situation,” he said.

Source: Voice of Russia

Islamic radicals in Iraq trained by US

Members of the Islamic State of Iraq and the Levant, or ISIS, were trained in 2012 by U.S. instructors working at a secret base in Jordan, according to informed Jordanian officials.

The officials said dozens of ISIS members were trained at the time as part of covert aid to the insurgents targeting the regime of Syrian President Bashar al-Assad in Syria. The officials said the training was not meant to be used for any future campaign in Iraq.

The Jordanian officials said all ISIS members who received U.S. training to fight in Syria were first vetted for any links to extremist groups like al-Qaida.

In February 2012, WND was first to report the U.S., Turkey and Jordan were running a training base for the Syrian rebels in the Jordanian town of Safawi in the country’s northern desert region.

That report has since been corroborated by numerous other media accounts.

Source: WND.com

French arms sales rise by 42%

Defence Minister Jean-Yves Lodrian said on Monday that French arms sales increased by 42 per cent or €6.7 billion in 2013 compared to 2012 and are expected to exceed seven billion Euros this year. Lodrian was speaking during the opening of the Eurosatory 2014 arms fair in the Paris suburb of Villepinte.

France recorded a strong comeback in the Middle East market, said Lodrian. The region is responsible for generating 40 per cent of France’s total exports and it has also increased its presence in the Asia and Latin America markets.

In 2013, France’s biggest contract was an agreement to renew the Saudi Arabian navy’s fleet of ships, worth €500 million; a contract to sell a communication satellite to Brazil is worth €300 million.

Source: MEMO