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Matt Drudge Alert – Hateful Leader Warning – TANSTAFL

July 24th, 2017 Comments off
MattDrudgeAlertHatfulLeaderWarning

Original Matt Drudge photo credit, Huffington Post, shared under fair use guidelines.  Text, collage credits, MHProNews.

As a prologue to the headline topic, macro trends are often overlooked for their potential impact on our industry.  Further, polarized politics can dim the understanding of an issue.

Let’s draw a bright-line distinction between those voting for ‘progressive’ causes, and their leaders.

There are also leaders who may seem ‘conservative,’ but whose business or political postures are harmful to those whose rights they claim to protect.

It’s necessary to clearly differentiate between the mass of voters – or non-voters – and specific titans or leaders of business, tech, and finance who influence the direction of the politicos of the two major parties.

Thoughtful Daily Business News readers will glean why the distinctions between voters – certain leaders with their spin – and macro trends are all critical to this rapidly emerging issue.

How the following impacts housing professionals will become clear, and will be underscored later below.

Anti-People Business, Policy Practices 

There are business, tech, and political leaders who essentially –  or de facto – are harming, opposing – or one might say, advancing hateful policies with respect to millions of people.

HatefulDefinedCreditDictionary-postedDailyBusinessNewsmHProNewsConsider:
SelfCheckOutMHProNewsGraphicStockDailyBusinessNewsResearchDataReports1> Walmart, Sam’s and Costco are among those stores using job eliminating self-checkout.

> Sam’s Club introduced an app that allows members to scan and go, skipping checkout entirely.

> Several restaurants are testing tablets and other kiosks to avoid a human order taker or checker.

> For years, banks have been using ATM machines.

> Human operators or phone room caller positions have been eliminated by numerous companies in growing numbers over a decade.

> Uber is among those pursuing self-driving cars to replace human drivers.

> How many trucking, taxi or other companies might follow Uber’s lead?

> An airline is said to be testing a self-flying plane.

> There are estimates that perhaps some 86 percent of all jobs could be done by artificial intelligence (AI), robots or other machines.

ScanGoSamsClubManufacturedHousingIndustryDailyBusinessNewsMHProNews

Sam’s Club “Scan and Go” app – like self-checkout – are ways of eliminating human jobs. While some politicos and pundits like to suggest that such tech advances have always resulted in more jobs, there are voices rising within and outside of our industry that suggest this time may be different. The need to create a defense for workers is now.

What all the above have in common is that they eliminate people from jobs.  Other examples could be added, but the point is made.

Previous Industrial Revolution vs. the Current Automated Revolution

On the one hand, in the past industrial revolutions, devices such as sewing machines or bull dozers enhanced the performance of humans.  People were still needed to operate those machines.

But in the current automated revolution underway, people are being replaced.  This is unlike farm workers moving to cities to find work in factories or shops. Now, there are no serious plans for replacing the human roles of tens to hundreds of millions – or billions? – of people.

The moral, business, economic, and political problems with the above or related ‘anti-people’ practices in society are numerous. What will be done with those millions of souls whose work is eliminated?  Will certain elite…care?

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To see that report, click the image above. 

Elon Musk’s Warnings

Consider these trends through the lens of Elon Musk’s warnings about regulating robots, which MHProNews was the first to spotlight within the Manufactured Housing Industry’s trade media.

There are economic, security, and other risks that arise – due to the possibility of the mass hacking of electronic devices.  These are mentioned in Noah Smith’s economic viewpoint, see that report – linked here.

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Credits as shown, to see that report, click the image above.

Selfishly beyond those issues, you can’t sell a house to a robot, can you?

Does self-checkout, ATMs, or driverless vehicles need housing?

When the working or middle class makes up much of our industry’s current base is further squeezed economically by such developments, how will millions be able to buy a home?

tristar-estates-bourbonnais-il-CreditMHC-MD-com, posted MHPorNews.com.

If blue or white collar workers are replaced by machines, who will buy homes, and how? What if management is replaced by AI? Arial photo credit of TriStar Estates, MHC-MD.com.

Is your job needed if the emerging trend outlined continues and accelerates?

If you aren’t the biggest in your field – as the larger firms automate, won’t your business rapidly be placed at an economic disadvantage?

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Facebook’s Mark Zuckerberg appears to be preparing for an entry into affordable – potentially modular/prefab housing – for that story, click the image above. Zuckerberg also appears to be preparing for a run for the Oval Office in 2020. For some related commentary on that and more, click here.

While some like Facebook’s Mark Zuckerberg are promoting policies that call for “universal income” – others for a $15 an hour minimum wage – these are among the issues that MHProNews has uniquely spotlighted within the industry’s trade media.  These policies have or could have serious impact on business and investments.

One reason in recent weeks and months the Daily Business News has been demonstrating the fallacies behind those concepts, is  precisely to lead up to points like today’s.  Such proposed plans may sound appealing to many, but so would $100 or $1000 an hour minimum wage.

Promises like “free college” – or “free” anything – may cause people to vote for someone, but in practice don’t work as promised. See those prior reports – and the economic liberty report below – can be read at their respective links.

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Or keep in mind the old high school adage, “TANSTAFL” – “There ain’t no such thing as a free lunch.”  Someone always pays.

There will be a high cost to these trends in replacing humans with automation if it isn’t rapidly – and successfully – addressed.

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Matt Drudge is the one quietly – over several years – sounding the alert. Don’t think that we imply that he is among the hateful leaders…he could be celebrated one day as an American hero.

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As regular Daily Business News readers know, a number of our reports are sparked by items found on the dominant news aggregator – Matt Drudge and his highly influential Drudge Report.  As of the date/time of this post, Drudge and his team’s website traffic count stood as follows, per their home page report: VISITS TO DRUDGE 07/22/2017
027,714,964 PAST 24 HOURS
868,857,608 PAST 31 DAYS
11,077,449,662 PAST YEAR

MHProNews editorially is far from being alone in raising these concerns.

The Drudge Report has tracked this troubling pattern for several years. Thank God for Matt Drudge and his team’s thoughtful work, as they scour the nation and world for trends that impact daily economic, political, moral, and social life.  Part of the genius of Drudge is that it spans the left-right media divide daily in its coverage.

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Full Measure’s Sharyl Attiksson’s media bias chart is useful in sorting out the agendas behind various headlines and news sources.

Most estimates of the AI/Automation/Robotics trend are in the 35 to 40 percent range of human jobs ended. Other are north of 80 percent of all jobs and careers.  Those higher percentages would include roles such as mangers, stock traders, and CEOs which could be eliminated by machines, robots, AI, and apps.

Isn’t it time to draw a line in the sand, rather than plant one’s head in it?

Is it time to start with something simple, like a Boycott of Self-Checkout?

To insist on dealing more with people, rather than machines?

Not Advocating Returning to the Stone Age

This column isn’t suggesting that you toss your computers, smartphones, or tablets.

It is suggesting that Drudge, Musk, Smith, and others are making a powerful – urgent – point.

Isn’t it time to create people-first protecting policies?

IWillLowerTaxesEliminateUnnecesaryRegulationUnleashAmercianEnergyPlacingAMericanBusienssandWorkersFirst-DOnalTrumpNationViewsMHProNews

President Trump and VP Mike Pence have both said they will be in the promise keeping business. For a summary of many of the president’s policies, click the image above. 

President Trump has indirectly addressed this in a variety of ways.

But Mr. President, could you formalize and address your specific plans on the above issues for tens of millions of threatened workers, please?

Americans, seriously – this isn’t a time to wait.  Whichever group grabs the nation’s trust on the above, will swing businesses, professionals, investors, and workers lives for generations to come.   There are leaders who could care less about “We, the People.”  They are sadly ‘hateful leaders’ in the purest sense of the term.

we the people_sentinel-news-graphic=credit-posted-daily-business-news-mhpronews-com-

Graphic credit, Sentinel News.

A Baby Step You Can Take, Starting Today

If you told the manager of every store you shopped that you:

  • will not use self-check-out,
  • to bring in the additional cashiers needed,
  • do so politely yet publicly, where other employees can hear,
  • then urge your friends to do the same — don’t you think they would respond?

We know from first hand experience that this can work, because we did so at a local Sam’s Club.  Employees that overheard, thanked us.  Customers also stepped up and did the same.  The next time we shopped, more checkout lanes were open, with humans managing the registers.

Isn’t it urgent to consider the consequences of inaction? (Cf. Dt. 30:19.) ## (News, analysis, commentary.)

(Image credits are as shown above, and when created by third parties, are provided under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News on MHProNews.com.

Will Matt Drudge, Fox or CNN Spotlight Unfair Challenges Harming Millions of Manufactured Home Owners?

May 20th, 2015 2 comments

 

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Correction on this photo, an earlier version did not have the proper image of Mike Baker, left.

The Seattle Times/Center for Public Integrity has allegedly targeted Clayton Homes and Berkshire-Hathaway affiliated finance companies in an attempt to derail much needed reforms to Dodd-Frank which harm millions of manufactured home (MH) owners and thousands of MH businesses.

Mike Baker and Daniel Wagner – writers of the Seattle Times articles, done in conjunction with the Center for Public Integrity – used shock tactics prior to the House of Representatives vote to attempt to derail the now-passed HR 650, which enjoyed bi-partisan support.

More recently, that writing duo turn on Warren Buffett’s firms again, in advance of a Thursday May 21st vote in the Senate Banking Committee that will include industry sought relief (S 682) from the Consumer Financial Protection Bureau regulations. Industry professionals say that The Preserving Access to Manufactured Housing Act, would mitigate the harm done to the value of millions of low-cost manufactured home owners by the unintended consequences of Dodd-Frank.

It might take a link by billion-plus monthly page views Drudge Report, or media mavens like Fox or CNN, to right the imbalanced coverage spawned by Baker’s and Wagner’s questionable journalism.

Writing in the Seattle Times, Baker says that the default rate on manufactured homes is higher than conventional housing, and uses pejorative terms about the loans such as “predatory” and “risky.” But should 97 home buyers be barred home ownership via financing others won’t offer, so that the 3 who fail in a year be spared their loss?

As a comparison, should millions be stopped from working because a small minority might quit or lose their jobs? Should subscribers to the Seattle Times digital or print publications be barred from buying their brand of news, because some every year will stop paying them? Should their publication be barred from selling ads because some advertisers will stop using them every year?

Yet that is kind of reasoning being used by Baker and Wagner. Their self-evident goal is an attempt to stir up enough shock value that blurs their use of faulty or circle reasoning, aimed at undermining support for much needed Dodd-Frank reforms.

Real Harm to Millions of Real Home Owners and Thousands of Businesses

The Seattle Times and the Center for Public Integrity (CPI) fail to balance their report by pointing out that the loss of lending that has taken place is harming the value of the lowest cost manufactured homes.

Some 20% of the homes that 20 million manufactured home owners live in would sell for under $20,000, the mark that 21st Mortgage Corporation set below which they could not safely make a loan and still hope to profit. With 8.8 million manufactured homes and pre-HUD Code mobile homes in the U.S., that 20% would represent about 1,760,000 manufactured/mobile homes (MH).

Since most MH owners live in their homes an average of about 10 years, millions may not yet realize they are harmed.

Comrades in Arms Against Reform?

Organizations like the Center for Enterprise Development (CFED) are ducking tough questions from MHProNews. Meanwhile, CFED’s Doug Ryan willingly comments to the Seattle Times or OZY Media, why? Are his comments made to other media a desperate effort to shock enough people with headlines and stories that don’t stand up well to close scrutiny? Aren’t CFED and Ishbel Dickens led National Manufactured Home Owners Association (NMHOA) harming the very home owners they claim to be advocating for? Is their ideological stance more important to them than the realities on the ground caused by the polices they advocate?

Dickens sent MHProNews an emailed reply, saying she was on vacation, and thus could not answer questions. Her “vacation” ends after the Senate vote. She can email that she is on vacation, but can’t email a simple reply on the impact of current CFPB regulations on the values of millions of manufactured homes? Or how publishers such as OZY Media are arguably harming the value of MH owners, by using improper and derogatory terminology?

CFPB Regulations harms all current Manufactured Home Lenders

By spotlighting Berkshire-Hathaway affiliated companies, Baker and Wagner are allegedly attempting to derail needed reforms of Dodd-Frank, that impact manufactured home owners and every lender in the manufactured housing space.

don_glisson_2Triad Financial Corporation is a competing company to 21st Mortgage. Triad’s President and CEO, Don Glisson Jr., has told MHProNews that his firm’s costs have skyrocketed since CFPB regulations have gone into effect.

Glisson said, “Triad has been the leading lender in the “A” credit market for over 50 years and I have personally been with the company for over 30 years. Regulations have always been a fact of life for us, but our compliance costs have quadrupled in the past 3 years alone.”

Another industry lender, formerly with US Bank, told MHProNews off-the-record that their bank’s manufactured housing loan program was profitable. But the high costs of regulatory compliance, coupled with low loan volume, caused U.S. Bank to end their manufactured housing lending program. That mirrors the official statement made by the bank when they pulled out of manufactured home lending in November, 2014.

A third manufactured home lender said off-the-record that they are glad 21st Mortgage and Vanderbilt Mortgage and Finance (VMF) make the loans they do. Why? Because in the wake of the 2008 financial collapse, loans on manufactured homes originated by 21st and VMF were crucial to the survival of thousands of MH Industry companies, which included hundreds of independent operations not owned by Berkshire-Hathaway.

Doesn’t the dismal failure to report in a balanced fashion – as Jan Hollingsworth did in writing on the impact of Dodd-Frank on manufactured home buyers and professionals – undermine the credibility of a journalist?

Senior management with every major industry lender MHProNews spoke in favor of reforms on Dodd-Frank, even if they don’t make the same kinds of loans 21st and VMF do.

Triad’s CEO elaborated on the challenges faced by their firm and other manufactured housing professionals. “Since we specialize in A credits, we have never had an issue with higher cost loans and the rules that surround higher priced loans have zero impact on us.”

However,” Glisson stated, “the rule that prohibits a manufactured home retailer from advising the customer on finance options is one that we would like to see changed. Currently a buyer of a site built home can receive advice from their realtor or builder on financing options, while manufactured home buyers have no similar ability to seek a seller’s help. This would be like going to a car dealer to buy a new SUV and when you ask for help securing a loan they hand you the phone book and say they can’t help you so just pick one out yourself.”

Glisson explained what impact this CFPB regulation has made on their operation. “This has doubled the amount of applications we are now processing to do the same amount of lending. In the past, before the CFPB regulations, a retailer could pre-qualify a buyer by accessing their credit reports and analyzing their income, just like every Realtor ® in America can do. With that information, they could at least determine what lender NOT to send the application to. We have had to add several full time equivalent team members to handle the crush of applications, as we are now bombarded with applicants who have no chance of qualifying with us.”

This is a pattern of “shot-gunning” applications by retailers to all MH lenders, to avoid the appearance of steering, that other lenders have confirmed for MHProNews.

Glisson went on to say that, “Beginning in 2014, when the rules went into effect, our origination cost per loan has skyrocketed. Pre-2014 we would approve about 50% of the applications we received as they were pre-screened. Currently we approve about 30% of the applications we receive, so our efficiency went down the tubes and we are working harder and spending more to make the same amount of loans.”

These are the kinds of real world problems caused by federal regulations that cause a lender such as U.S. Bank to pull out.

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As Sam Landy, President and CEO of UMH Properties pointed out in a video interview linked here, it has caused them and others in the community business to stop lending to potential manufactured home owners. They now rent homes to those who before would be qualified by their finance arm to make renters into home owners. How does that regulatory caused impact help those thousands seeking ownership and equity instead of rent receipts to advance in life?

Doing the Math

Finance experts tell us that a community operator like UMH, using a related or ‘captive finance’ company, can afford to make loans at a lower interest rate than a traditional lender because they are only loaning on manufactured homes in their community. In the event of a default, their costs and thus their loses are lower. Additionally, a manufactured home community operator can benefit even if their loan program is only marginally profitable, because they are getting additional revenue from a sold home and filled homesite.

There is no similar benefit to the third party loans made by 21st, VMF, Triad Financial, CU Factory Built Lending or Mountainside Financial. The same holds true for regional or local lenders who must profit on the loan itself, or they won’t make the loan in the first place.

Does Buffett win more than Millions of home owners would from the proposed reforms to Dodd-Frank?

While the Seattle Times’ Baker and his tag team writer Wagner make it sound that Warren Buffett and Berkshire-Hathaway related companies are the big winner from financial reform, they clearly overlook the real world impact on an estimated 20% of those home owners who live in a home that is worth under $20,000.

If those homes averaged $15,000 each, 1.76 million MHs represent an aggregated value of $26,400,000,000. That sum dwarfs the benefits to Berkshire-Hathaway, or indeed, to the entire manufactured housing industry.

Since financing is the key to most big ticket sales, a loss of financing causes the same drop in value that was seen in conventional housing in the wake of the 2008 mortgage collapse.  Just as conventional housing lost value absent lending, the same holds true for manufactured homes.

As the now-retired president of the Manufactured Housing Association for Regulatory Reform (MHARR), Danny Ghorbani, has said, the factory built home industry was not the cause of the 2008 housing/mortgage bubble. So why were manufactured home owners, housing businesses and professionals penalized? Why is manufactured housing owners and buisnesses taking such a direct hit from the impact of CFPB regulations?

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 As Eric Powell told Jan Hollingsworth about the impact of Dodd-Frank and the CFPB regulations on their manufactured home purchase, What were they thinking when they did that?”  Or as Sam Landy told MHLivingNews, the consequences to millions of manufactured home owners and thousands of business may well have been untended, but someone has got to fix this. ##

(Image credits 3 and 4, MHLivingNews; Don Glisson Jr photo and composite photo and graphic of Baker and Wagner made by MHProNews).

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.