All eyes on the fat man

From the Star Ledger NJ Voices Blog:

Property taxes the major concern for N.J. voters despite political affiliation

Route 78 cuts through New Jersey. More accurately, it cuts through the many New Jerseys.

Every dozen or so miles, the towns off the highway sit like still portraits of time and place; museum dioramas of vastly different scenery, architecture and lifestyle.

All are New Jersey; from hills over the Musconetcong Valley, to the ridges of the Watchungs, to the flatlands of the Newark Basin. All are home; from the simple mill houses in rural Stewartville to the planned mini-manses of The Hills, to the oldish manors of North Summit, to the new three families in the South Ward of Newark.

West to east, from rural to suburban to urban, the counties of Route 78 are political microcosms of greater New Jersey. Out west, rural and suburban Warren, Hunterdon and Somerset go Republican red. To the east, Union and Essex go Democratic blue. But today, purple was in the air as voters in all these places shared one major concern.

Property taxes.

From the Press of Atlantic City:

Christie’s tough task

Voters on Tuesday wanted change – they wanted it enough to overcome New Jersey’s powerful Democratic Party organization and elect Republican Chris Christie as the next governor of the state.

The victory in many ways was surprising. While Christie was ahead in the polls for months, his lead eroded after Gov. Jon S. Corzine poured huge amounts of his personal wealth into the campaign, much of it for negative advertising. Democratic superstars – including President Barack Obama – made multiple visits to New Jersey on Corzine’s behalf.

But this election was not about Obama. It was about Corzine – and the entrenched problems of New Jersey that he has not been able to solve.

Now, for Christie, the really tough job starts.

From the NY Post:

Jersey voters dump Corzine for Christie

Chris Christie last night became the first Republican to be elected governor of New Jersey in more than a decade — a stunning triumph that came just days after President Obama put his prestige on the line and visited the Garden State to urge voters to re-elect Democrat Jon Corzine.

With 99 percent of precincts reporting, Christie, a former US attorney who pledged to cut the state’s enormous tax burden, had 49 percent of the vote over Corzine’s 45 percent.

“This election was and is about the future of the state of New Jersey,” Christie said last night in a victory speech at the Parsippany Hilton.

“Tomorrow, together, we begin to take back New Jersey. Tomorrow we will fix this broken state.”

To cheers, he vowed to “pick up Trenton and turn it upside down.”

This entry was posted in New Jersey Real Estate, Property Taxes. Bookmark the permalink.

308 Responses to All eyes on the fat man

  1. freedy says:

    well i was wrong Corzine was a shoe in.

    thought the money he gave away would do it

    Let’s see what Chris can do

  2. grim says:

    From the NY Times:

    Congress Poised to Keep Homebuyers’ Tax Credit

    The Senate and House are poised to agree on a compromise measure to extend unemployment benefits that also would expand a popular $8,000 tax credit for homebuyers, despite a recent government report on extensive mistakes and suspected fraud in the program.

    The Senate might pass its version as early as Wednesday, and aides to Congressional leaders say the House could accept it this week, sending the bill to President Obama to sign into law. After weeks of partisan delay in the Senate, Democrats are eager to show progress before Friday, when the October jobless report is again expected to show high unemployment.

    The homebuyers’ credit — enacted last year, expanded this year and scheduled to expire Nov. 30 — would be extended to cover homes under contract by April 30. Also, it no longer would be limited to first-time buyers; people who have owned a home for at least five years could get a $6,500 credit on a new residence. Income limits for eligibility would be raised, making many more people qualify.

    Extending and expanding the credit would cost an estimated $11 billion, on top of the $10 billion spent so far. It would be a big victory for the housing and real estate lobby and for the Senate majority leader, Harry Reid, Democrat of Nevada, who faces a tough re-election race next year in the state with the most claims for the credit per capita.

  3. homeboken says:

    The “O”ne couldn’t threw his weight behind Corzine and it wasn’t enough. Good luck to the Dems in future elections, your president is becoming increasingly toxic.

  4. serenity now says:

    Meet the new boss ,same as the old boss…
    God help us.

  5. grim says:

    Meet the new boss ,same as the old boss…

    And his fat ass will be out on the street if he doesn’t deliver.

    This election wasn’t a coronation.

  6. Orion says:

    It’s a great day for NJ!

  7. Outofstater says:

    Let’s see, the easy stuff first: consolidate school districts, fire tons of government workers and cut pensions and benefits.

  8. NJGator says:

    Shore prev thread – Upstate NY told Sarah Palin and Glenn beck for F-Off last night.

    http://mobile.nytimes.com/article;jsessionid=C470AA7E67BDDFB8A08BFF27F4611491.w6?a=483732&f=19

  9. Schumpeter says:

    Get ready for four years of NJ-style gridlock.

    They will still figure out a way to loot us blind, though.

  10. Jim says:

    I guess B.O. wasn’t able to get all the mainstream voters in Camden to see things his way. Then again I don’t think there are that many crack dealers that are registered to vote (although they’re probably Democrats).

  11. Essex says:

    Corpulence is the new competence.

  12. Essex says:

    I think this might be an interesting wake up call to the folks in DC. One term Obama anyone?

  13. stan says:

    Christie got the Taft vote, Corzine the skullet vote.

    More fat people than bald in NJ. Winner.

    I hope he has some competent individuals looking at the budget already. One can dream

  14. Bubble Disciple says:

    Let’s see:

    Jim Florio raised sales tax and income tax to raise revenue.

    Christie Whitman lowered above taxes and shifted burden to local municipalities, so local taxes had to rise.

    Jon Corzine, raised sales tax to pay for property tax rebate.

    What will the new guy do? We’re running out of gimmicks.

  15. Jim says:

    Bubble,
    These aren’t gimmicks. You just don’t see the Big Picture.

  16. Dissident HEHEHE says:

    Christie’s Campaign Summed Up In A Phrase: “I’m not Corzine”

    Corzine’s Campaign Summed Up In A Phrase: “Christie’s Fat”

    I love this f’g state.

  17. Schumpeter says:

    disciple (17)-

    Maybe the guy will figure out how NJ can declare BK. Maybe he’ll just start telling municipalities to toe the line, or declare BK.

    If Christie could do just that much, I’d be impressed.

  18. sam says:

    tweedle dee and tweedle dum

  19. Jim says:

    I wonder how much of a tax write-off Corzine will get for his own money that he used for the campaign?

  20. John says:

    Good Times!

    Congrats Chris Christie, btw you look like a crook, prove me wrong.

    NEW YORK (MarketWatch) — GMAC Financial Services on Wednesday reported a third-quarter loss of $767 million, compared to a net loss of $2.5 billion in the year-ago third quarter. GMAC’s loss from continuing operations was $671 million. “We continue to work through solutions for certain legacy assets and that is still weighing on GMAC’s financial performance,” said GMAC Chief Executive Officer Alvaro de Molina.

  21. Dissident HEHEHE says:

    “Congrats Chris Christie, btw you look like a crook, prove me wrong.”

    And that’s something coming from Johnny Belmar!

  22. sas says:

    “Republican Chris Christi”

    thank goodness Corzine and his crumb bum croonies are out.

    Republican Chris Christi isn’t the savior, but NOTHING can be worse than Corzine.

    Republican Chris Christi will be decent for buisness and perhaps even a job creation? hard to say. but he seems more of a a straight shooter and is well connected with the buisness world. Even the little guy.. which is a good thing.

    however, social justice issues. forget it, he is out to lunch with the silver spoon in his arse.

    in regards to the pension time problem, again, he is clueless and has a silver spoon in his arse.

    and in the (rear) end, the pension 900lb guerilla is what will do him in, and that is why the tax system will get worse or stay status quo.

    now, get back to work, so my boomer tail can sit back and collect social security on your watch!!

    ha hah ha
    SAS

  23. sas says:

    well, i’m off to get some coffee, black, with Indiana Bones.

    later gater,

    SAS

  24. Richie says:

    Corzine’s TV advertisements were just plain stupid. I’d agree that this negative campaigning BS has to stop, these damn politicians can’t figure out how to market themselves properly rather then trying to push negativity against their opponent.

  25. House Whine says:

    #10
    Ok, say he does fire loads of state workers. NOw you add more people to the ranks of the unemployed. I just don’t think getting rid of workers is the best idea in this climate but I do agree that their benefits have to be revised.

  26. d2b says:

    Any advice on buying tickets for Radio City Music Hall? I want to take a nine year old, but I’m worried that he will not be able to see anything in the Orchestra. Would we be better in the balcony? I’ve never been in that building.

  27. Will V. says:

    d2b: Orchestra seating is fine in radio city. I was there last year with my family and my youngest was also 9 and he saw everything. It was great but he started to get sleeping at the end. My guess your going to see Christmas Spectacular?

  28. Shore Guy says:

    “will be out on the street if he doesn’t deliver.”

    Whether he dilivers or not he will be out on the street.

    If he fails, he will be dumped.

    If he succeeds, he will so upset the apple cart that he will tick off so many people that they will dump him, even if the changes improve the state.

  29. Cindy says:

    http://elections.nytimes.com/2009/results/new-jersey.html

    Thought you might like this:
    New Jersey Results in an interactive map

  30. A.West says:

    It’s all about the spending. The only way Christie can succeed is by becoming the most hated governor in recent history. Doing the right thing for NJ would be like taking away the car and credit card from your teenage kid. They’ll hate you and scream at you but you hope in ten years they’ll appreciate what you did. Or like taking away subprime and alt-A loans from the real estate profession.

    BTW, I don’t see any sign that Christie plans to clamp down hard on spending.

  31. Rich In NNJ says:

    JB,

    Thought of you when I saw this Rube Goldberg Breakfast Machine

    Rich

  32. Veto That says:

    Wells Fargo Takes Chance With a Loan Exchange
    Option ARMs Are Shifted to Interest-Only in a Recovery Bet

    Wells Fargo & Co.’s strategy for modifying troubled Pick-A-Pay mortgages looks like a game of kick-the-can-down-the-road.

    The fourth-largest U.S. bank by assets holds about $107 billion in debt tied to option adjustable-rate mortgages, a relic of the U.S. housing boom that allowed borrowers to make small monthly payments in return for increasing their mortgage balance. Many such borrowers now own homes worth far less than they owe in mortgage debt, and most can’t afford a full monthly payment that pays down the loan’s principal.

    To solve that conundrum, Wells Fargo is taking a gamble: The San Francisco company is issuing thousands of interest-only loans that will defer borrowers’ balances for as long as six to 10 years.

    Wells Fargo is wagering that an eventual rise in housing prices in the worst-hit regions of the U.S. and a rise in consumer income, will eventually cover the bank’s underwater Pick-A-Pay debt. “We’re banking on the fact the economy will improve and recover over time,” Michael Heid, co-president of Wells Fargo Home Mortgage, said in an interview.

    The move to shift Pick-A-Pay borrowers into interest-only loans helps Wells Fargo avoid hefty write-downs on Pick-A-Pay mortgages that would likely result from foreclosures. But the strategy will leave Wells Fargo holding billions of dollars in mortgage debt tied to distressed properties in battered markets, especially California and Florida.

    Pick-A-Pay loans accounted for 10.8% of Wells Fargo’s average total loans in the third quarter.

    Wells Fargo didn’t issue option ARMs but inherited $119.7 billion of them when it purchased Wachovia Corp. last year. The Charlotte, N.C., bank concentrated its Pick-A-Pay-branded loans in the most overheated housing markets.

    More at WSJ…
    http://online.wsj.com/article/SB125728972492326499.html?mod=dist_smartbrief

  33. Rich In NNJ says:

    Actually, I’m starting to wonder if this is
    your place!

  34. make money says:

    If I’m Christie, I come in Trenton like Artie Gold from Entourage “terminator style” and just start shooting them up.

    In 4 yrs I’ll run a surplus and cut property taxes by 50%. Stay away from a TV camera and the media as much as possible as NJ teenagers will want blood. Do not discuss any social issues and just make everyone hate you.

    In 4 yrs, your challenger will get 90% of the vote. In 8 yrs you can run for President.

  35. Schumpeter says:

    veto (35)-

    This is the financial equivalent of turning cocaine into crack.

  36. Schumpeter says:

    make (37)-

    I agree. Go Draconian, or go home.

  37. Cindy says:

    http://www.nolanchart.com/article7010.html

    Interesting article here on the correlation between increased minimum wage and job losses.

  38. chicagofinance says:

    6.homeboken says:
    November 4, 2009 at 6:22 am
    The “O”ne couldn’t threw his weight behind Corzine and it wasn’t enough

    Christie weighs more than Obama and Corzine combined….

    Obama toxic?….you’ve been watching too much Fox News homeboy….

  39. zieba says:

    Family member just got laid off. Entire agency going under. No recession here just green shoots.

  40. chicagofinance says:

    JJ: I don’t care about either company, but you have to at least give credit to a drilling company with the name BJ Services….should have headquarters on 10th Avenue in NYC….

    http://www.bloomberg.com/apps/news?pid=20601103&sid=aLrptc8Yvs_I

  41. Cindy says:

    http://online.wsj.com/article/SB125729682025626851.html

    Buffet must feel like spending some money…

    “Buffett Joins Goldman in Bid for Fannie Mae Tax Credits” WSJ

  42. PGC says:

    Got Balls? previous thread
    “12/4 is out (as is 12/3 to 12/8) unless someone wants to cover my childcare costs.”
    Nominomics would like to see this sort of thing handled at an individual or charity level. Our policy should be that we will admit such childcare cases, for purposes of consideration, only if there is an organization or individual willing to sponsor them so that they are not a public charge (aka. a NOMPOUND -Not Outa Ma Pocket Or Undera New Deal) .

    “I take it back about 12/4. GTG still possible, but it can’t be NYC. ”
    I assume the board is holding out for a commitment from “John the Straw”, I don’t have a problem with Hoboken, although I’m still trying to confirm a pass from Mrs PGC

    I would suggest giving SuperFreakonomics a read, I’m about halfway through it. You would enjoy the comments on the healthcare consequences of Inheritance Tax. I would give you a summary, but I would need a retainer and “I can’t keep carrying you there too”

  43. Cindy says:

    http://blogs.wsj.com/economics/2009/11/03/barney-frank-on-financial-regulation-overhaul/

    What I’m reading this AM – last one…

    “Barney Frank on Financial Regulation Overhaul WSJ

  44. John says:

    Chifi, I thought you bet me AMBAC would be bankrupt by year end.

    NEW YORK (MarketWatch) — Financial guarantor Ambac Financial /quotes/comstock/13*!abk/quotes/nls/abk (ABK 1.11, +0.06, +5.71%) said on Wednesday that it swung to a profit of $2.19 billion, or $7.58 a share, from a loss of $2.43 billion, or $8.45 a share, a year ago. Total revenue rose to a positive $2.69 billion, from a negative $2.32 billion last year. “The third quarter 2009 results reflect significant unrealized mark-to-market gains in the credit derivatives portfolio and gains resulting from reinsurance cancellations during the quarter. In 2008, Ambac’s third quarter results reflected a significant negative net change in fair value of credit derivatives,” the company said in a press release Wednesday.

  45. Alap says:

    who the hell is artie gold? dont quote if you can’t get the guys name right, lloyd.

  46. PGC says:

    Jamil,
    NY District 23,
    “The candidate representing mainstream gop is now having double-digit lead in the most recent poll.”

    and was just handed his A$$”. The overturn of a seat held by a (R) for 150 years in this political climate, is a big upsett. The bad NJ news from this is, with Hofferman gone, Christie will be head up as the tea party posterboy. Christie has to payback Joe Wilson and Co for the stumping.

  47. confused in NJ says:

    The Maine vote was interesting in that the Maine Governor & Legislature are out of sync with the people they misrepresent.

  48. PGC says:

    make (Chi)

    Did you catch this? Apologies if it is insensitive. I find Clintons reaction funny.

    Make,

    I found your stash of Shiny. So its not in a vault in Australia…… :*)

    http://tinyurl.com/yaabwnd

  49. lisoosh says:

    Fingers crossed that Christie grows a pair and just does what needs to be done.

    Ha.

  50. lisoosh says:

    I want to be Niall Ferguson’s b!tch.

    He had Charlie Rose nearly apoplectic last night.

  51. lisoosh says:

    PGC – I found it fascinating that the supposed “grass roots” of the GOP (a media manufactured group if ever I’ve seen one) was rejected by actual grass-roots Republican voters.

    I can see 2012 being pretty fascinating – dittoheads and diehard “progressives” on the outliers with an enormous pi$$ed off chunk of people in the middle.

  52. make money says:

    PGC,

    It’s gold sprayed. Albanians are very loyal people.

  53. d2b says:

    Make-
    NJ taxpayers want Ari Gold. I think that the key to getting re-elected would be someone that wants to tear down the establishment. What we are more likey to see is someone that spend the next 4 years trying to get re-elected.

    Poor John Corzine gets to go into private equity and get spoonfed big deals from Wall Street as payback for his years in public service. I bet his networth will be triple in 5 years while NJ continues to spiral down.

  54. make money says:

    Alap,

    Everyone here knows that I can’t spell. Here is the demonstration.

    http://www.hbo.com/entourage/

  55. Shore Guy says:

    “The only way Christie can succeed is by becoming the most hated governor in recent history.”

    Bingo. NJ needs an intervention, and Christie needs to give it one. If he does, in 20 years he will be the most beloved one-term governor ever.

  56. Victorian says:

    Adding to Grim’s post earlier, the idiocy continues. Both parties are bought and paid for by the lobbyists.

    (From Calculated Risk)

    From the NY Times: Congress Agrees to Keep Homebuyers’ Tax Credit

    The Senate and House are poised to agree on a compromise measure to extend unemployment benefits that also would expand a [un]popular $8,000 tax credit for homebuyers …

    The bill also extends the net-operating-loss carryback period for firms from two years to five years (to help homebuilders).

  57. Shore Guy says:

    BC,

    I have been checking once every hour since Sunday but have not seen any tickets drop for the 8th. Have you heard anything? I hate the thought of giving a broker a reward for speculating.

  58. Stu says:

    Victorian (62): Yup. Keep kicking that can down the road.

  59. 3b says:

    #64 And with the extension will come room for fraud. The credit will be extended for houses that go under contract by April 30 and close by July 31st 2010. Back dating of contracts?

  60. BC Bob says:

    Shore [63],

    Still checking. It’s The River on Sunday.

  61. Jpasteurized says:

    “NJ taxpayers want Ari Gold.”

    Personally, I’d prefer his wife.

    That said, how do you “turn Trenton upside down” if you don’t know which end is up? And if Christie “follows through”, I’m really looking forward to driving down pothole-riddled Route 80 to wait on line for five hours to get my driver’s license renewed. Think the cuts aren’t going to affect you?

  62. Shore Guy says:

    The River! Really? Sherry Darling and Crush on You!!!!!! Man alive! I need to score some tickets to THAT.

  63. Shore Guy says:

    Any word on what Buffalo will be?

  64. HEHEHE says:

    You status quo supporting shills kill me.

    The state and municipal governments in NJ are completely overladen with deadwood pension suckers. How do I know? I live in f’g Hoboken the deadwood pension sucking capital of the world.

  65. BC Bob says:

    Shore,

    No word on Buffalo.

    Wild, Inn & E Street Shuffle- Sat
    River- Sun

  66. Shore Guy says:

    Wild is a something I would LIKE to see, but the RIVER is about my favorite album of Bruce’s and it has just about every song I have not heard him do that I want to hear in concert.

    Must obtain a ticket. Must obtain a ticket. Att his point a folding chair under the stage would work, just to be able to hear the songs.

  67. 3b says:

    #67 So your answer is to do nothing?

  68. lisoosh says:

    Philly experts.

    Might take the kids over the next couple of days.

    Philly Cheesesteak recommendations please (Center City area). Hubby wants me to bring one back.

  69. Shore Guy says:

    “recommendations ”

    Avoid getting it “with.”

    Ask Nom. Yuch!

  70. Shore Guy says:

    yuck, even

  71. jamil says:

    40 cindy:

    from the article

    “Common sense says if you raise minimum wage, someone will lose their jobs. The government denies that. The unions deny that. But companies that hire will confirm it. So do the numbers from the Bureau of Labor Statistics.”

    Well, anybody with IQ approaching (or exceeding) normal levels could have told that. but hey, who cares for the extra 200k unemployed. Unions and nancy are happy!

  72. chicagofinance says:

    Oh man…..we aren’t even 24 hours into the governor-elect cycle and Hollywood is already trying to cash in….

    A Biography: The Rise of Chris Christie….
    http://www.imdb.com/video/screenplay/vi2930114841/

  73. John says:

    Why don’t we raise minimun wage by one dollar an hour and then just subtract one dollar an hour from overpaid union workerss.

  74. Comrade Nom Deplume says:

    [46] DSA

    “I would give you a summary, but I would need a retainer”

    Nope, I’m good, thanks. I can get that standing in Barnes and Noble for 5 minutes.

    So, 12/4 in Hoboken or Bergen is good for you? We don’t need the ethereal John there, I was just trying to be accomodating.

  75. chicagofinance says:

    John says:
    November 4, 2009 at 9:26 am
    Chifi, I thought you bet me AMBAC would be bankrupt by year end.

    JJ: As numerous people here and elsewhere point out over and over…
    AMBAC is bankrupt in substance, but in form it survives. From the kind of bets you make, form over substance means you get to keep your money.

  76. jamil says:

    50 PGC: “and was just handed his A$$”. The overturn of a seat held by a (R) for 150 years in this political climate, is a big upsett”

    That was interesting race and no doubt State Media represents it in a fair and objestive way /sarc.

    The fact is, that local GOP nominated a left-wing extremist (ACORN-supported democrat) so it was natural that local grassroots revolted and started to support mainstream conservative. Once Hoffman emerged, Dede’s support collapsed. It was shameful and misguided episode by GOP establishment and elite.
    GOP should not run democrats. GOP should run conservatives.

    Dede remained on the ballot and got 6% (lot of early voters before she dropped out) and she campaigned for the official dem. Narrow win for the official dem (against someone running on 3rd party ticket).

    Still, I would rather have a real dem in congress than ACORN-supported democrat, posing as a republican.

    Had GOP run Hoffman or other conservative (or even moderate republican, as opposed to ACORN-supported extremist) GOP would have won easily.

    I hope GOP establishement got the message.

  77. Comrade Nom Deplume says:

    [76] shore

    Actually, it’s “wit”

    [75] Lisoosh,

    I actually didn’t eat many steaks there, and don’t know of anyplace in center city proper. Most better known places are in the neighborhoods.

    One place I liked was Jim’s Steaks on South Street, which is really at the periphery of CC, SE of the downtown. If walking from Independence Hall, it is still at least 3/4 of a mile.

    There must be others closer to Billy Penn, and I know that there are some current Philly dwellers on the board. Perhaps they can weigh in.

  78. Shore Guy says:

    Wit, indeed. I stand corrected. Still, dont get it wit, mit, or with.

  79. lisoosh says:

    My neck of the woods won’t like this, there are high paying jobs in that facility:

    http://www.nj.com/news/index.ssf/2009/11/the_wall_street_journal_plans.html

    The Wall Street Journal plans to halt printing in South Brunswick

  80. Comrade Nom Deplume says:

    [46] PGC

    “Nominomics would like to see this sort of thing handled at an individual or charity level. Our policy should be that we will admit such childcare cases, for purposes of consideration, only if there is an organization or individual willing to sponsor them so that they are not a public charge”

    You betcha. And, from that, I assume you aren’t willing to pony up so I can come to NYC?

  81. chicagofinance says:

    PGC: I thought he was being modest. You understand that it was basically Darfur over there until Clinton decided to crush the Serbs. The flip side is that I agree in a lot of ways most of the U.S. and the world cared because they were white people.

    PGC says:
    November 4, 2009 at 9:34 am
    make (Chi)
    Did you catch this? Apologies if it is insensitive. I find Clintons reaction funny.

  82. lisoosh says:

    With? Wit? What?

    Is this cheeze wiz we are talking about?

    I’m completely lost.

  83. trentonmakes says:

    Someone in the Reading Terminal Market should be able to serve up a proper cheesesteak. Carmen’s or Spataro’s. 12th and Arch. Can’t get much more Center than that!

  84. james says:

    #19 LMAO

    Obama < Jimmy Carter

    Its time to purge ourselves of the lazy, uneducated, Communist, government workers and their unions. Then and only then will NJ return to prosperity.

    Look on the bright side. Once this is done we can go back to our usual conversations of granite counter tops and stainless steel appliances.

  85. John says:

    Moody’s Investors Service said it’s reviewing GMAC’s credit rating for a possible upgrade. Moody’s assigns a Ca rating, below investment grade.

    GAG ME WITH A SPOON!

  86. make money says:

    (67),

    Think the cuts aren’t going to affect you?

    Nope. I live in Manhattan. But would sure love to see some pain and blood accross the river. Give me that credit card and you can’t have it back until you’re running a surplus.

    Pot holes and big lines and DMV would least of your problems.

    I’ll cut down on all afterschool nonsese, put 30 kids in a classroom, get rid of 40% of cops and start them at 26K per year like Bloomberg does. Cut financial aid to all private colleges. Teachers start at 35K. Lower wages 25% to all employees that I can’t cut. If you don’t want the job then go to the private sector. These corpses wouldn’t last 2 weeks working for Schump.

    Pension contribution become $0.00 until we have a surplus.

    Party is over now we have to deal with the hangover.

    I would announce this using FCUK to make each point.

    Like FCUK the cops!!!!All they do in south Jersey is give tickets. Fire the bastards and let drivers keep the money.

    If the spolied rats are not mobilizing their troops to protect their way of life and ask for your head then you’re NOT doing the job they send you to do.

    If you’re worried that you cut too many jobs and cuts are too deep then smile and cut some more. Then next year when the deficit is very small and everyone wants your head and pressure ic coming to loosen up a little say FCUK that and cut some more.

  87. Shore Guy says:

    “Is this cheeze wiz we are talking about?”

    Yup. It is gross to watch them spray it onto the meat, well, compressed fat with some meat tossed in for good measure.

  88. james says:

    Here is my roadmap to prosperity. Its ugly but theres hope.

    1. Stop the government takeover of healthcare. Delay vote until election year 2010. Blue Dog Democrats wont risk it especially with the tally now at 1.2 trillion
    2. Expose the Copenhagen treaty for what it is. December 7. Prosecute any supporters for treason.
    3. Stop Cap n Trade in January.
    4. Stop Amnesty bills next year.
    5. Audit the Fed Reserve HR1207 next year. Then abolish them.

  89. theo says:

    Here is what I’d like to see Christie do.

    Immediate pension freeze for all government employees, if the state has any control over local pensions for the likes of teachers, police and fire, those too. Replace pension with public equivalent of 401(k).

    Immediately require that all government employees and retirees to pay at least 1/3 of the cost of health insurance.

    Eliminate payout of accumulated vacation and sick days where it exists and change to use it or lost it for government employees.

    That’s just a small start on only one small part of the problem, but it would help.

  90. Shore Guy says:

    Hey, Make. How do you really feel? You need to stop keeping your feelings bottled up.

  91. chicagofinance says:

    yikes: You asked me where the market is going?

    This afternoon watch the reaction to John Chambers….not to the results of CSCO, but rather once he opens his mouth and starts talking about conditions and his business forecast….that is about as good a call as you are going to see….I’m not saying he is correct. All he is more informed than most others out there…

  92. make money says:

    The flip side is that I agree in a lot of ways most of the U.S. and the world cared because they were white people.

    ChiFi,

    We’re still white.

    http://www.amazon.com/ILLYRIAN-LETTERS-Correspondence-Herzegovina-Montenegro/dp/1602063397/ref=pd_bxgy_b_img_c

    required reading. How’s the Kanuni going.

  93. On the fence says:

    Man, this site sure has become wing-nut-ilicious!

  94. lostinny says:

    I want to thank all of you for giving me good reading while I’m stuck at home.

  95. chicagofinance says:

    make money says:
    November 4, 2009 at 11:49 am
    How’s the Kanuni going.

    I am really enjoying it. It a little difficult in that the translator had to make so many assumptions in language, so you have to think a lot about what the original meaning was. I am through the parts covering the church, marriage, and the roles of family members.

    No wonder my dad thought I was such a punk.

    Two questions: what languages do you speak? Also, what do think are the best Albanian restaurants in NJ, the Bronx and South Boston?

  96. morpheus says:

    GTG:

    how about one at a brew-pub or brewery in NYC. Maybe if we are nice, they will give us a tour.

    Ok Jamil, I will take the bait: if not for healthcare, what our your options for covering the uninsured? Please, no name calling or strawman arguments.

  97. make money says:

    Chifi,

    problem with albanian restaurants is that they all serve Italian food.

    You live on Colts Neck right? there is a nice place called Samvera in Marlboro, everyone there is Albanian. Ask for Steve and tell him to prepare you a Branzino Albanian Style. His Stuffed peppers and baby clams are phenomenal appetizzers done Ulqin style.

    As far as Bronz and traditional non-restaurant quality food i.e(pite, qevapa and Burek) you can find anywhere on Arthur Ave by Fordham Road.

    Albanian immigrants realized that if you put Italian on anything you can charge a premium as it’s synonymous with quality.

    Why ruin a good thing?

    I speak albanian and Serbian and have some waterfront properties that I bought after the war if you ever want put on the boots and go down there. I’m from a town called Ulqin.

  98. james says:

    #103

    Problem: no healthcare
    Solution: get a job

    No seriously.

    Problem: Insurance unaffordable
    Solution: Increase competition by allowing people to buy insurance across state lines.

    Problem: Insurance rejecting people with existing conditions
    Solution: Make it illegal

    Problem: Healthcare too expensive
    Solution: Eliminate defensive medicine through Tort reform.

    These are the 3 pillars. We really have to stop the defensive medicine nonsense if we are going to contain costs.

  99. Nurburgringer says:

    “Is this cheeze wiz we are talking about?”

    Yup. It is gross to watch them spray it onto the meat, well, compressed fat with some meat tossed in for good measure.:

    Don’t know where you get cheese steaks, but in philly “Wit” denotes “with onions”.
    And wiz is never ‘sprayed’ on, it’s spread with a icing-spreader-like knife.
    And the sliced top round or ribeye that is usually used, while well marbled, is hardly compressed fat.
    Congrats, you’re 0 for 3.

  100. Shore Guy says:

    “No word on Buffalo.”

    Please, Lord, let it NOT be The Human Touch.

  101. Shore Guy says:

    Nur,

    I will defer to your superior knowledge of Philly cusine. From my perspective, esch cheesesteak should be served with a certificsate for a discount on an angioplasty.

  102. chicagofinance says:

    COOL!

    make money says:
    November 4, 2009 at 12:17 pm
    Chifi,problem with albanian restaurants is that they all serve Italian food.
    You live on Colts Neck right? there is a nice place called Samvera in Marlboro, everyone there is Albanian. Ask for Steve and tell him to prepare you a Branzino Albanian Style. His Stuffed peppers and baby clams are phenomenal appetizzers done Ulqin style.

    As far as Bronz and traditional non-restaurant quality food i.e(pite, qevapa and Burek) you can find anywhere on Arthur Ave by Fordham Road.

    Albanian immigrants realized that if you put Italian on anything you can charge a premium as it’s synonymous with quality.

    Why ruin a good thing?

    I speak albanian and Serbian and have some waterfront properties that I bought after the war if you ever want put on the boots and go down there. I’m from a town called Ulqin.

  103. chicagofinance says:

    albani: I have a big f-ing real estate mess that the family is eventually going to turn to me to take care of…they just don’t know it yet. Maybe I can pick your brain at some point next year?

  104. chicagofinance says:

    I know EXACTLY where this is…I had no idea….you rock…I was in the parking lot next door and was staring at it on Sunday night….

    November 4, 2009 at 12:25 pm
    You live on Colts Neck right? there is a nice place called Samvera in Marlboro, everyone there is Albanian.

  105. Shore Guy says:

    Chi,

    Are you Albanian?

  106. morpheus says:

    105:

    Ok: I agree with you on “pre-existing conditions”

    as to tort reform, last study I saw indicated it added only 1-2% to total cost of healthcare. Plus,even in states like Texas with med-mal caps, doctor’s premiums continue to rise, so I don’t see much savings in that route. Yes, I know I am biased. I see the whole tort-reform argument benefiting only the insurance companies, but again I am biased.

    buy insurance accross state lines? Then we have a race to the bottom with insurance companies picking the state with the least mandated coverage. If you can establish a national policy with a standard policy that provides a floor with regards to benefits, I would be for that.

    Get a job: not all jobs have healthcare coverage. I believe that the majority of the uninsured are considered working poor: they are employed.

    Incidently, you are not proposing to cut-off healthcare to those without jobs?

  107. Nurburgringer says:

    shore – what, is your diet composed entirely of fruits and veggies?
    It’s bread, onions, steak sauteed in a bit of oil, and cheese wiz (or provalone if you insist).
    Doesn’t even make the top 100 on
    http://thisiswhyyourefat.com/

  108. chicagofinance says:

    Shore Guy says:
    November 4, 2009 at 12:38 pm
    Chi, Are you Albanian?

    Albanian surname…

    I am Polish, Russian, Slovenian, Albanian, Jewish, Muslim, Catholic…..I look Belarussian Jew though, whereas my brother looks dead-on Albanian…

  109. morpheus says:

    114:
    Deport illegals. I like and my wife would love that.

    OK, so the market cures all and no need for regulations?

  110. Shore Guy says:

    “is your diet composed entirely of fruits and veggies?”

    Largely, plus nuts, some whole grain products, fish (mostly wild salmon), chicken, and only sparing amounts of very lean beef. The fat tends to be fish oils and olive oil.

  111. HEHEHE says:

    You want to cut healthcare costs, break up the health insurance companies.

  112. Shore Guy says:

    Oh, and red wine.

  113. jamil says:

    james
    “Problem: Insurance rejecting people with existing conditions
    Solution: Make it illegal”

    This is lunatic. Why not demanding (by law)Mandarin Oriental to give luxury suit in Dubai to me for 16 weeks even knowing I can’t afford it?

    It is more expensive to treat people with pre-existing conditions. Why should insurance companies take them with the same fee?
    (Insurance companies are in the business of evaluating risk and pricing it so they should be be free to price in the risk of treating, say, smoking cancer-patient with HIV vs non-smoking healthy person).

    Otherwise, it would be government imposed tax (ie government orders to insurance companies to collect the tax from X to hand out it to Y).

    As I said before, the solution is to make healthcare cheaper (along with enabling charity care and minimal government-sponsored ER care, but not covering illegals and not having to worry about malpractice).

  114. james says:

    #115

    Health care is not a right. Personally, I would rather die than to bankrupt my family and my country just because I wanted to live a few more months.

    Liberty comes at a price. The problem is it is paid by too few.

  115. Shore Guy says:

    Well, new identities, anyway, since Italy does not have them. If Italy wanted to convict anyone, they should have convicted Bush, not the foot soldiers.

  116. willwork4beer says:

    Re: cheesesteaks

    I surprised that none of the knowledgable pointed out that a cheesesteak purchased in CC is not going to survive the car ride back to Middlesex County. It will be a cold, soggy, disgusting mess long before it arrives.

    Disclaimer: I lived in the Northeast and didn’t eat many CC cheesesteaks. Perhaps they have some magical staying power that NE cheesesteaks lack.

  117. ruggles says:

    you want to find a good cheesesteak, call the governor

  118. james says:

    Gold hitting new highs. Looks like India bought a ton from the IMF. Im kicking myself for cancelling my gold purchase last March. Looks like Buffet is betting we will be supplying China with its resources.

    I did buy oil ETF over the summer and its kicking ass.

    Anyone buying Gold and Silver?

    I would prefer silver at this point.

  119. james says:

    Nov. 4 (Bloomberg) — Companies in the U.S. cut an estimated 203,000 jobs in October, according to a private report based on payroll data.

    The drop was the smallest in more than a year and followed with a revised 227,000 decline the prior month, data from ADP Employer Services showed today. The figures were forecast to show a decline of 198,000 jobs, according to the median estimate of 34 economists in a Bloomberg survey.

  120. HEHEHE says:

    “james
    “Problem: Insurance rejecting people with existing conditions
    Solution: Make it illegal”

    This is lunatic. Why not demanding (by law)Mandarin Oriental to give luxury suit in Dubai to me for 16 weeks even knowing I can’t afford it?”

    So says Jamil w/o a pre-existing condition.

  121. jamil says:

    Maybe I should ask my salary in gold or silver..Obama dollars are getting worthless, even without healthcare and cap-and-tax.

    Some of my co-workers get their salary already in currency basket where they can designate the foreign currency portions (up to three pre-defined currencies, I think).

  122. make money says:

    albani: I have a big f-ing real estate mess that the family is eventually going to turn to me to take care of…they just don’t know it yet. Maybe I can pick your brain at some point next year?

    ChiFi,

    having me looking at the RE porfolio and giving advice is teh equivalent of Wachovia hiring Goldman to look into their balance sheet and non performing loans and advise. I’ll end up walking away with the cherry somehow.

    just joking..glad to help.

    What’s with Rubinator calling Jim Rogers $2,000 gold call delusional.Interesting stuff.

  123. james says:

    Someone requested the other day that the coversation focus on real estate. Ok, Ill bite.

    “The multi-billion-dollar tax credit for first-time homebuyers juiced real estate sales and provided a strong boost to GDP in the third quarter. But the net result is that many responsible young people, who had chosen to rent and save in the face of a declining housing market, are now saddled with mortgages they cannot afford. These ‘homeowners’ will quickly join the ranks of the foreclosed.

    Perhaps the most concerning aspect of GDP growth is that, even with a deeply progressive Administration spending our children’s children’s money, the best we can achieve is a modest, fleeting boost in growth. Even the government’s biggest apologists have a hard time explaining how these gains can last without continued stimulus. In short, this country is not just bankrupt today, but for generations to come. This is the real truth and should concern those with investments within the United States.”

    Now can we talk about economy, politics, and ammunition again?

  124. jamil says:

    hehe:
    “So says Jamil w/o a pre-existing condition.”

    I feel sorry for them, but again, it is tax imposed by the government. The solution is to make health care cheaper and more widely available. The end result is the same for people with pre-existing condition, but fairer to the other people.

    Malpractice reform would allow a lot of new doctors and clinics to emerge. Paying $200,000 a year for malpractice insurance sure put extra financial pressure on a doctor treating cancer.

  125. yikes says:

    jamil says:
    November 2, 2009 at 6:18 pm

    Depressing article in WSJ.
    Apparently, ACORN and Obambi thugs from PA and NY have already moved in to NJ to “optimize” the results tomorrow. No doubt O Dept of Justice will carry out honest investigation on voter fraud.

    Jamil, after being so wrong about this, can you just muzzle all your silly, radical, right wing garbage?

    Thanks.

  126. james says:

    Jamil,

    Im all for your plans. I hate the “I cant do anything for myself crowd.” Its sad how pathetic Americans have become.

  127. Comrade Nom Deplume says:

    The NJ Real Estate, Politics, Cheesesteak, and Albanian Cuisine Report.

  128. Comrade Nom Deplume says:

    And this thread has so many buzzwords for the ‘bots to find, Napolitano and the folks at DHS must be reading it live.

    Hi Janet!

  129. james says:

    LMFAO Comrade!

  130. morpheus says:

    let me see if I get this straight: Dont’ worry about malpractice. So if you are hurt by the doctor its your problem not the doctors. That does not seem fair.

    Healthcare not a right. See, there we have a difference. I believe we should take care of our people. I cannot in good conscience believe that we should let people die because they cannot afford care. The issue to me is how can you do so most efficiently and cost-effectively.

    And quite frankly, I do not trust insurance companies as far as I can throw them. Especially after the way they handled my step-father’s cancer.

    Trust in the market is one thing, until an insurance carrier tries to screw you over.

  131. BC Bob says:

    “What’s with Rubinator calling Jim Rogers $2,000 gold call delusional.Interesting stuff.”

    Make,

    http://www.bloomberg.com/apps/news?pid=20601087&sid=anNG9T__.c_M

  132. Shore on the watch list says:

    Q area

    radiation

    USSS

    secret service

    quantum

    Usama

    weapons

    attack

    kill

    washington

    new york

    bridges

    tunnels

    explode

    train

    aircraft

    shoulder-fired

    semtex

    c4

    barracks

    You mean like these?

  133. Shore Guy says:

    Hey! Don’t call Janet down on us.

  134. james says:

    Dear Napolitano and the Jack Boot Thugs,

    Today in NJ real estate news. Granite counter tops a hot selling item. 12 billion rounds of (ammunition) sold in past year. Stainless steel also a big seller. (Antipersonel mines)also a big attraction for the gardening types.

  135. morpheus says:

    139:
    Oh. . hi janet. I hear Cuba is lovely this time of year. Can I have the cell with the lovely view of the beach. after all, LOCATION, LOCATION, LOCATION!

    oh wait. . . I look lousy in orange and a jump suit makes me look too heavy.

  136. Fly over says:

    Maine defeats SSM; Reporter opines that:

    Attention will now turn to other states, including California — where Schubert was an instrumental strategist a year ago in the successful campaign to overturn cost-ordered same-sex marriage.

  137. jamil says:

    136 yikes:
    “Jamil, after being so wrong about this, ”

    So how excatly I was wrong? ACORN operatives were spotted and they were active in NJ, as WSJ reported. It is just that the difference in real votes was higher than the margin of fraud this time, thank god.

  138. morpheus says:

    149:
    And on occasions, the jersey devil, bigfoot and Elvis have been spotted in NJ. And the Chubacurra(sic).

  139. HEHEHE says:

    BC,

    A week ago Rogers was on Bloomberg saying the dollar would rebound and Gold correct. Which Rogers should I beleive?

  140. lisoosh says:

    willwork4beer says:
    November 4, 2009 at 12:54 pm

    “I surprised that none of the knowledgable pointed out that a cheesesteak purchased in CC is not going to survive the car ride back to Middlesex County.”

    Very good point. Do you think I could have them wrap the meat/cheese/onions separately to put together when I get it home? OK, not exactly authentic, but probably the best solution.

  141. james says:

    151,

    Small businesses are paralyzed by this constant guessing of what the Fed is going to do next. If we simply knew the truth we could get on with dealing with the problems.

  142. lisoosh says:

    jamil says:
    November 4, 2009 at 1:30 pm

    “So how excatly I was wrong? ACORN operatives were spotted and they were active in NJ, as WSJ reported.”

    I know I’m going to regret this but….the WSJ link you provided wasn’t a journalistic WSJ piece, it was an op-ed. There are no reporting standards for it.

  143. jamil says:

    141 morpheus
    “So if you are hurt by the doctor its your problem not the doctors. That does not seem fair.

    Healthcare not a right. See, there we have a difference. I believe we should take care of our people.”

    The malpractice system in Europe and rest of the world works pretty well without sky-high premiums and trial lawyers. It is only the US that has these lunatic ambulance-chasing trial lawyers (think of that creepy John Edwards).

    I agree that we should take care of people (to some extent). As I said before, acute ER care for all (illegals deported, reasonable cost for others), partly sponsored by government, but other care is just made cheaper, by having European-style malpractice system so there would be hughe number of different and cheaper options and health care services.

    State mandates for insurance should be abolished. Yes, that mandate for insurance companies to cover pre-existing HIV costs sounds nice, but most people would just like to have minimal insurance without such mandate (and anyway, all costs would be cheaper without malpractice premiums and other state mandates).

  144. skep-tic says:

    I’m generally pretty conservative when it comes to economic issues, but I have much greater faith in tort lawyers to police doctors than some medical board comprised entirely of doctors or some sort of miscellaneous government beaurocrat. Look at the incentives. I think losers should be forced to pay costs as a rule in lawsuits (this would deter most totally frivolous suits), but otherwise I want doctors to know there will be heavy consequences if they f up.

  145. jamil says:

    lisoosh: So you are saying that ACORN was not active in NJ, doing what is usually does?
    The candidates and people in NJ lied?

    (I’m not talking about importing child prostitutes from South America, but old-fashion ACORN voter fraud instead).

  146. BC Bob says:

    he [151],

    The dollar corrected approx 3%. Maybe that is the rebound? Gold is rallying versuse all paper printers of the world, not just USD.

  147. BC Bob says:

    versus

  148. james says:

    If you want Doctors to pay heavily when they fuck up you best pay them heavily when they succeed.

  149. james says:

    If you want Doctors to pay heavily when they screw up you best pay them heavily when they succeed.

  150. 3b says:

    #134 I will bite too. Was in D. C. for a couple of days,and in reading my complimentary hotel copy of of USA today. there was an article on strategic foreclosures. The president of Citi Mtg claims that 1 in 5 of their foreclosures are done for strategic purposes.

    Mr. Mark Zandi the gentleman often quoted in real estate/mtg matters (I forget who he works for now) believes that lenders should encourage all borrowers to stay current on their mtgs for 2 years, and after that time period lenders should offer to cut chunks of the principal balance to make up for the “owners” lost equity.

    What complete and utter nonsense,and what incentive again to those who have done and continue to do the right thing. What do they get? An atta boy? Your reward is in the next life?

    Once again all who are lookibg to buy should carefully consider all the nonsense out floating around out there before committing to a purchase.

  151. HEHEHE says:

    BC,

    3% is a hiccup, not a correction.

  152. james says:

    Hey Napolitano!

    I have some intel on Comrade. Hes been spotted building barricades somewhere in NJ.

    http://www.youtube.com/watch?v=imrN_IUB8no

  153. Comrade Nom Deplume says:

    [152] lisoosh

    I doubt that they would do that for you, but ask that it be well-wrapped and it should survive okay. A little time in the toaster oven will help with the soggies, if any.

  154. 3b says:

    So the Fed announces at 2:15, what is the consensus? The Fed changes its language going forward or does not?

    Ah how I long for the good old days (not that long ago), when a fed announcement actuallly meant something. Now its just a big ywan.

  155. Comrade Nom Deplume says:

    Tax (and RE) News of the Day

    (this is excerpted from a NJ Super. Ct. App. Div. opinion today)

    “PER CURIAM
    In Simon v. Cronecker, 189 N.J. 304 (2007), the Supreme Court held that “the Tax Sale Law does not prohibit a third-party investor from redeeming a tax sale certificate after the filing of a foreclosure action, provided that the investor timely intervenes in the action and pays the property owner more than nominal consideration for the property.” Id. at 311. This appeal presents a variation of the issues addressed in Cronecker. A prospective intervener, Saint Vincent DePaul Society (SVDP) appeals from an order of the general equity part denying its motion to intervene in a tax foreclosure proceeding involving plaintiff CCTS Tax Liens I, L.L.C. (CCTS), the holder of the certificate, and defendant Louise Gilbert, the property owner. SVDP purports to be not a third-party investor but a lender of funds to defendant for the limited purpose of redeeming the tax sale certificate. The motion judge denied intervention and permitted CCTS to foreclose. Unfortunately, because the application was determined on motion, the record is limited as to a presentation of all of the unique facts surrounding this matter. Accordingly, for the reasons set forth below, we reverse and remand for a plenary hearing to fully explore all of the circumstances of this transaction to the end that the judge has a full record on which to assess and adjudicate the respective rights of the parties. . . .”

  156. Comrade Nom Deplume says:

    [163] james

    Geez, enough with the Janet-baiting.

    Besides, everyone knows I wouldn’t build the Nompound in New Jersey.

  157. lisoosh says:

    jamil says:
    November 4, 2009 at 1:40 pm

    “lisoosh: So you are saying that ACORN was not active in NJ, doing what is usually does?
    The candidates and people in NJ lied?”

    No. I’m saying that you stated an opinion and backed it up by linking to another opinion and calling it reporting.

    The link allows you to claim that other people share your opinion. It does not allow you to claim factual evidence.

    I have no idea how active ACORN was nor what they may or may not have done. Without hard evidence, neither do you.

    Your accusations may be 100% accurate, but unless you want to live in a world where anyone can accuse YOU of nefarious activities without hard evidence and post it wherever for all to see, you shouldn’t either.

  158. Comrade Nom Deplume says:

    I just had to print this, as it is emblematic of how they do things in markups.

    (from a BNA article discussing an extenders bill)

    “Also, to keep the bill deficit-neutral over the 2010-2014 period, businesses with assets of at least $1 billion would see their corporate estimated tax payments due July-September 2014 rise by 33 percentage points, raising $18.3 billion. Tax receipts would then fall by the same amount in 2015 because the change merely pulls payments ahead into 2014.”

  159. skep-tic says:

    #160

    “If you want Doctors to pay heavily when they screw up you best pay them heavily when they succeed.”

    I’m totally in favor of that. I think most doctors are underpaid.

  160. we says:

    I think most doctors are underpaid.
    ———————————
    Underpaid realted to who, other doctors around the world? Other professionals in the US? The AMA created Doctor shortage is the reason for so many healthcare costs.

  161. Comrade Nom Deplume says:

    [102] chifi

    “what do think are the best Albanian restaurants in NJ, the Bronx and South Boston”

    There’s albanians in Southie???

  162. skep-tic says:

    I would rather have a U.S. trained doctor than one from anywhere else. I think many of them are underpaid due to price fixing at the hands of oligopolistic insurance companies and medicare/medicaid. They will probably be drastically underpaid in a national healthcare environment and the quality of people entering the profession will deteriorate.

  163. Comrade Nom Deplume says:

    [172] we

    Have to weigh in here. I can’t speak for all doctors, but residents are paid slave wages.

    I recall when I learned what residents made; I was working for a large NYC firm at the time, and I nearly gagged when one resident told me. Made me feel guilty about my own comp, which was higher than his by a considerable factor.

    Lot of other docs don’t pull down high sixes either. Just as in other learned professions, most of the practitioners are not wealthy, but earning a middle class salary.

  164. leftwing says:

    “B.O. better get these guys out right away”

    But then how could he maintain that international good feeling so consistent with his Nobel?

  165. John says:

    Since the S&P 500 began trading in 1928, it has averaged 3 percent returns for those two months following the Yankees’ 10 World Series defeats; 2.16 percent returns in the 24 years they won the title; and 0.9 percent returns when the Yankees didn’t make the World Series at all. The market does best when New York reaches the World Series — and loses.

  166. John says:

    Economy has tons of green shoots with no inflation.

    3b says:
    November 4, 2009 at 1:50 pm
    So the Fed announces at 2:15, what is the consensus? The Fed changes its language going forward or does not?

  167. Comrade Nom Deplume says:

    [177] John

    “The market does best when New York reaches the World Series — and loses.”

    Now that is a result I can get behind!!! On all levels.

  168. Comrade Nom Deplume says:

    [176] leftwing

    A closing thought.

    When BO was awarded the Nobel, did you get the impression that it was a call-out? That the committee was essentially daring him to man up on the campaign promises?

    That was one reason I think some folks at 1600 muttered “oh sh1t” when they got that news.

  169. skep-tic says:

    forgot about residents. hat’s off to them– they get pounded

  170. 3b says:

    #178 The green shoots are brown

  171. we says:

    If medicine was a terrible profession, the acceptance rates would not be so terrible.

    http://www.doctorpremed.com/medical-school-acceptance-rates.html

  172. Victorian says:

    The US has one of the highest paid doctors in the world by any measure.

    http://economix.blogs.nytimes.com/2009/07/15/how-much-do-doctors-in-other-countries-make/

  173. Victorian says:

    Edit: Brain freeze

    US doctors are amongst the highest paid in the world.

  174. chicagofinance says:

    Check this out….fcuking classic….albani…the Kanun in actions….

    Comrade Nom Deplume says:
    November 4, 2009 at 2:07 pm
    [102] chifi There’s albanians in Southie???

    Recently law enforcement broke an Albanian organization in New York City and believed to be one of the 6th families there. Rudaj Crime Family extorted money from other Italian-American mafia families. Federal prosecutors issued racketeering charges against 22 people associated with an immigrant Albanian crime family called the Rudaj Organization. Alex Rudaj is the alleged boss of the Albanian mafia’s Rudaj Organization, based in the New York City metro area. Alex Rudaj, and 21 other reputed gang members charged in the indictment. Kelley’s office said it believes the indictment is the first federal racketeering case in the United States against an alleged organized crime enterprise run by Albanians. It should be noted that several of the defendants indicted in the case are not Albanian – the organization has soldiers that are Greek, Arab and Italian – but most of the defendants in the case were either native Albanians or first-generation Albanian-Americans. During a bail hearing for one of the two dozen people arrested in the case, Assistant U.S. Attorney Timothy Treanor said that the Albanian mob had taken over the operations of the Lucchese family in Astoria, Queens.

    Rudaj lead an attack in August 2001 on two members of the Lucchese crime family who ran a gambling racket inside a Greek social club. Prosecutors said that Rudaj and his friend Colotti broke off from the Gambinos after Phil Loscalzo died in the early 1990s. Assistant U.S. Attorney Benjamin Gruenstein said their goal was “to become one day, they hoped, a sixth family.”

    The NY Daily News said: federal prosecutors are claiming the Gambinos and the Lucheses – among the most bloodthirsty crime families the city has ever known – are just a bunch of pansies… “The Gambino crime family simply could not stand in the way of the Rudaj organization, and the Rudaj organization took great pride in that,” prosecutor Benjamin Gruenstein said. They also pushed the Lucchese crime family out of Astoria, Queens, prosecutors said, taking over gambling clubs the Luccheses had run for years. “What we have here might be considered a sixth crime family,” after the five Mafia organizations — Bonanno, Colombo, Gambino, Genovese and Lucchese — said Fred Snelling, head of the FBI’s criminal division in New York.

    According to evidence at trial, armed members of the Rudaj Organization met with members of the Gambino crime family, led by Arnold Squitieri, at a gas station in New Jersey for a standoff, and Dedaj pointed a gun at the gas pumps and threatened to blow everyone up. FBI has recently announced that ethnic Albanian gangs are replacing the Italian La Cosa Nostra mafia. During the 1970s Albanian expatriates in the US were actively recruited as couriers, transporters or assassins for the Italian Mafia. The efficiency and brutality with which these members conducted these criminal affairs got them to advance within the Mafia network, so much so, that by 1996 the main assassins for the Gambino crime family were ethnic Albanians. Gambino’s Sammy Bull Brovano’s go-to “clipper”, for example, was an ethnic Albanian, Zef Mustafa, whose notoriety for murder and racket was exceeded only by his love of alcohol: drunk from dawn, in a 1996-02 span this Albanian organized a $19 million internet heist, was let out on a $5 million bond and has since disappeared from the US. Albanian mafia in United States operates with extreme violence. Even fellow mobsters are afraid to do business with the Albanian gangs. Speaking anonymously for Philadelphia’s City Paper a member of the “Kielbasa Posse”, an ethnic Polish mob group, declared in 2002 that Poles are willing to do business with “just about anybody. Dominicans. Blacks. Italians. Asian street gangs. Russians. But they won’t go near the Albanian mob. The Albanians are too violent and too unpredictable.” While FBI concurs with the brutality assessment, the difficulty in obtaining operational intelligence on the Albanian mafia, and any convictions, may be multifold. Dusan Janjic, Coordinator of the Forum for Ethnic Relations in Serbia, cites three reasons for the success of the Albanian criminal gangs: “Firstly they speak a language that few people [sic] understand. Secondly, its internal organization is based on family ties, breeding solidarity and safety. Thirdly there is the code of silence and it is perfectly normal for somebody to die if he violates the code.”

  175. chicagofinance says:

    According to evidence at trial, armed members of the Rudaj Organization met with members of the Gambino crime family, led by Arnold Squitieri, at a gas station in New Jersey for a standoff, and Dedaj pointed a gun at the gas pumps and threatened to blow everyone up.

  176. james says:

    The funny thing about libtards is they think they should determine how much someone else makes.

  177. jamil says:

    Victoria: Isn’t the same true for lawyers, engineers and pretty much every profession (“among the highest paid in the world”) ?

  178. chicagofinance says:

    Ulqin-albani: Do you have any info Albanian government projects, or are you just hooked into Montenegro stuff?

  179. John says:

    chifi, I need your AMBAC revised analysis. Please report.

  180. John says:

    Isn’t it in the old testament somewhere about the right to sue people?

    Growing up in Great Neck my favorite place to eat was the Japanese/Jewish restaurant, Sosueme.

    Only bad doctors get sued anyhow, so something is wrong if we have bad doctors.

  181. Victorian says:

    Jamil (190) –

    If you look at the data, it is terms of purchasing power parity.

    “One way to compare cross-country data is to adjust the salaries for purchasing-power parity — that is, adjusting the numbers so that $1,000 of salary buys the same amount of goods and services in every country, providing a general sense of a physician’s standard of living in each nation.”

    James (189) –
    Your juvenile insults says more about you than the people you are trying to insult.

  182. relo says:

    Wow. I’m surprised rates weren’t raised after that overheated 3Q GDP number.

  183. BC Bob says:

    “3% is a hiccup, not a correction.”

    he [162],

    Maybe, USD, hiccup and correction are one and the same?

  184. Victorian says:

    From that same report which I linked to earlier –

    “But it’s important to keep in mind, the report notes, that health care professionals in other O.E.C.D. countries pay much less (if anything) for their medical educations than do their American counterparts. In other words, doctors and nurses in the rest of the industrialized world start their medical careers with much less student loan debt compared to medical graduates in the United States.”

  185. jamil says:

    193 John: “Only bad doctors get sued anyhow, so something is wrong if we have bad doctors.”

    Right. So why does a top surgeon have to pay $200,000/year for malpractice insurance?

    Anybody can get sued and the truth is no defense. Some John Edwards lookalike just tells jurors how this evil doctor caused that thing to do bad things to that cute victim so $50,000,000 punishment is deserved.

    As long the trial lawyers pay 400 million a year to the Dmocratic Party, nothing will change. No doubt money well spent.

    The U.S. tort system costs our economy billions of dollars each year: $246 billion, or $845 for every person, in 2003 alone.

  186. we says:

    But, other professionals in the World also have less college debt.

    Do away with artificial control on number of Doctors, that is, make it free market and you will see healthcare costs take care of itself.

  187. BC Bob says:

    “How Safe Is Your Safe-Deposit Box?”

    http://abcnews.go.com/m/screen?id=4832471

  188. chicagofinance says:

    John says:
    November 4, 2009 at 2:54 pm
    chifi, I need your AMBAC revised analysis. Please report.

    JJ: You are on your own…I can’t help you. It is a fcuking insolvent piece of sh!t, but if you need your prostate stimulated, I can’t stop you…..you seem to have decent instincts….and the government is on your side…..you also need to make sure that you have liquidity to exit the position, with or without Chap 11…..you seem to understand this issue though….CIT outcome is one scenario…can you live with that and make a profit anyway?

  189. chicagofinance says:

    Remember…Chambers is talking in about 90 minutes…..he is a good data source IMHO……

  190. Victorian says:

    # Medical malpractice premiums, inflation-adjusted, are nearly the lowest they have been in more than 30 years.
    # Medical malpractice claims, inflation-adjusted, are dropping significantly, down 45 percent since 2000.
    # Medical malpractice premiums are less than one-half of one percent of the country’s overall health care costs; medical malpractice claims are a mere one-fifth of 1 percent of health care costs. In more than 30 years, premiums and claims have never been greater than 1 percent of the nation’s health care costs.
    # Medical malpractice insurer profits are higher than the rest of the property/casualty industry, which has been remarkably profitable in the past five years.
    # The periodic premium spikes that doctors experience, as they did from 2002 until 2005, are not related to claims but to the economic cycle of insurers and to drops in investment income.
    # Many states that have resisted enacting severe restrictions on injured patients’ legal rights experienced rate changes (i.e., premium increases or decreases for doctors) similar to those states that enacted severe restrictions on patients’ rights, i.e., there is no correlation between “tort reform” and insurance rates for doctors.”

    The report was authored by Gillian Cassell-Stiga and Joanne Doroshow of the Center for Justice & Democracy, and actuary J. Robert Hunter, who is director of insurance for the Consumer Federation of America (CFA), former Commissioner of Insurance for the State of Texas, and former Federal Insurance Administrator under Presidents Carter and Ford.

    http://www.insurancejournal.com/news/national/2009/07/23/102434.htm

  191. morpheus says:

    198:
    please provide a link to the article that you are citing re: cost of tort system.

  192. John says:

    Chifi, tear up your financials statements and join me on the dark side of vulture investing where you win in BK and you win in non BK.

    Liquidity is irrelevant at certain ROI. Several Dogs I have pay 40%, after three years I have got all my principal back in interest. Plus the market is stupid sick, Bear, Sov, Wachovia, NCC bonds are got taken over by super investment grade companies they went from near BK to A rated overnight.

    Ford is getting an upgades, even sickier GMAC is on upgrade list.

    Companies are rolling over and playing dead while back door buying up their own debt at 40-80 cents on a dollar. Ford even sucker punched people to tender at 32 in March 2009 on bonds that now trade at 82.

    You took a shot in the shorts with Lehman and like a batter that gets hit with a ball you got to get up and start swinging.

    BTW just for fun when you said ABK would not make it till ye I picked up a 5K piece with a YTM of 69%. They are still paying interest, I was expecting a distress tender offer. I have no clue why ABK when there bonds were trading at 30 they did not do a big tender offer at 40 and wipe debt off books at 40 cetns on a dollar.

    Kodak is another one, why won’t they tender. My damm 9% bonds they can have them for 60 cents.

    ChiFi, please I need some tips. I need more junk to buy. I am selling old junk that has reached par and need to re-roll.

  193. John says:

    Robert Chambers or Marilyn Chambers?

    chicagofinance says:
    November 4, 2009 at 3:20 pm
    Remember…Chambers is talking in about 90 minutes…..he is a good data source IMHO……

  194. morpheus says:

    more importantly:

    Why have y’all not responded to my request for a GTG in a brewery/brewpub? WTF–Fresh beer!!!

    SAS can entertain us with his stories from his manly past; John can entertain us with stories that would make the editor of Penthouse letters blush. Good times for all.

  195. morpheus says:

    206: thank you john!

  196. jamil says:

    204 morp:

    http://www.towersperrin.com/tillinghast/publications/reports/Tort_2004/Tort.pdf

    Again, if a surgeon has to pay $200,000/year insurance premiums somebody must pay for that, and if a doctor just retires in rural area, rather than works part-time (leaving the area without any doctors) it has real world consequences.

  197. jamil says:

    from the report:

    “Medical malpractice costs have
    risen an average of 11.8% per year,
    compared to an average annual increase
    of 9.2% per year for all other tort costs.”

    “At nearly $27 billion in 2003, medical
    malpractice costs translated to $91 per
    person. This compares to $5 per person
    in 1975 (not adjusted for inflation).
    This significant escalation in medical malpractice costs has contributed to
    the increase in health care costs in the
    U.S. over the past 30 years.”

  198. chicagofinance says:

    John says:
    November 4, 2009 at 3:27 pm
    ChiFi, please I need some tips. I need more junk to buy. I am selling old junk that has reached par and need to re-roll.

    JJ: I ask who is getting killed here…think about it…pure play refiners? look for any asset intensive business who inputs have gotten expensive, but it’s product demand is weak….it has to be straddling investment grade….also any companies buying another that borrowed for the purchase?

    I sitting on 20-40% gains in a bunch of stuff, but you are really hurting now?

    CA munis? Just make sure you know to pick the right towns….

  199. Schumpeter says:

    james (137)-

    I like your idea. Encourage the gravely ill to commit suicide.

  200. james says:

    Victorian,

    “Your juvenile insults says more about you than the people you are trying to insult.”

    How about this. You take care of your family and Ill take care of mine. Lets hear it. Can you not take care of your family? If so, why should I have to take care of yours.

  201. John says:

    I did CA munis a few weeks ago when you could get 6.5% but I game up. I snared even a few 5.3% NJ munis during mudslinging a few weeks ago. I have given up on NY/VI and PR munis as yields have collasped and Guam is a hell hole where most bonds at AMT anyhow and I avoid it like a plague. One thing that is amazing I am sitting on callable 6-7% coupon NY bonds bought at par duing crisis and they never got called, but never go much above par as could get called any moment, it amazes me NY leaves 7% callable munis out there.

    I am not hurting. Just that I loaded up on Auto, Insurance and Bank Bonds at 17 to 70 during Armagedden I am thinking of dumping. Plus pure garbage like Unisys and Genworth that is trading now at 95 cents. I like it at 35 cents in March I no longer like it at 95 in Nov.

    Chi Fi I am impresed at your 20-40% gains. I have only been averaging 10% a month gains.

  202. james says:

    212. Thats exactly whats in HR3200.

  203. chicagofinance says:

    John says:
    November 4, 2009 at 3:58 pm
    Chi Fi I am impresed at your 20-40% gains. I have only been averaging 10% a month gains.

    JJ: 20-40% cumulative…it sounds as if you are crushing me….of course, the game you are playing leaves you open to being nuked…also, I don’t get paid to do what you do….I get patted on the back for hitting tons of singles and doubles with runners on base….

  204. Essex says:

    Interesting point of view:

    “Susan T
    Tucson, AZ
    November 4th, 2009
    6:42 am
    I thought New Jersey voters were smarter than this. Do we not realize that we live in a state where people are better off? Better education. Better healthcare. Better programs for kids and the elderly. More funding of the arts. Tougher clean air and clean water legislation. Take a look around this country and compare NJ to other states on the issues people care about. Corzine cared about the people of NJ and its a sad situation that he’s been replaced by the likes of Christie.

    Christie didn’t have an illustrious path to Governor. He’s just been good at being a bully. At 31, having just made partner at his firm and moved to affluent Mendham Township in Morris County, he took on an unpopular incumbent in a Republican primary for the State Senate. But Mr. Christie’s petitions were rejected because many of those who signed lived outside the district.

    A year later, he ran for county freeholder and won ugly, with ads claiming the incumbents were under criminal investigation over a violation of open meetings laws related to a contract for a new jail. His rivals sued, and Mr. Christie settled, printing an apology in the local papers. Then he began losing one run after the next. Losing bad. Over and over.

    So, he dropped out of politics and went to work behind the scenes as a fundraiser. And, he became a top fundraiser for George Bush, after whose election he was appointed NJ’s United States Attorney. He raised so much for Bush in NJ that he was nicknamed a “Big Boy” among Bush fundraisers. And, he got a reward in the form of head prosecutor, a job for which he had no background — like most of the cronies awarded thank you positions during the Bush Administration. Hell of a job. . .

    So, fellow voters of New Jersey, this morning we have a new governor, anointed by George W. Bush. And, Karl Rove, just for good measure. Like I said, I thought New Jersey voters were smarter than this.”

  205. hughesrep says:

    212

    Take it a step further, go after the merely old and offer them tax breaks.

    http://en.wikipedia.org/wiki/Boomsday_(novel)

  206. Shore Guy says:

    The Logans Run Act of 2010?

  207. james says:

    217. The Corzine/Obama administration is making Bush look like Thomas Jefferson.

  208. chicagofinance says:

    OK – so CSCO beat pretty handily, but now we must wait for Chambers to start yapping…which I was wrong…starts in 10 minutes…..

  209. John says:

    I use the Babe Ruth approach, hot dogs, beers, cigars and womanizing and just swing the bat and pray.

    chicagofinance says:
    November 4, 2009 at 4:04 pm
    John says:
    November 4, 2009 at 3:58 pm
    Chi Fi I am impresed at your 20-40% gains. I have only been averaging 10% a month gains.

    JJ: 20-40% cumulative…it sounds as if you are crushing me….of course, the game you are playing leaves you open to being nuked…also, I don’t get paid to do what you do….I get patted on the back for hitting tons of singles and doubles with runners on base….

  210. Schumpeter says:

    sx (217)-

    That Susan lady can kiss my monty white ass. I hope the gubnor is loud, obnoxious and PO’s everybody in sight as he slashes deadweight and unearned entitlements.

    Sadly, this is just a fantasy of mine.

  211. Schumpeter says:

    Fun times ahead:

    CMBX 1:

    The $217mn World Market Center (8.57% of deal, SS-Cur), backed by the first newly constructed building in the World Market Development, was transferred to the special servicer.

    CMBX 3:

    The 270-room W Hotel in Manhattan is the collateral for the $115mn W New York-Union Square loan (3.38% of deal, SS-Cur), which was transferred to special servicer for imminent default.

    CMBX 4:

    The $150mn Hyatt Regency – Jacksonville loan (2.79% of deal, 30 day) backed by a 966-room full service hotel located in the Jacksonville, Florida, went 30 days delinquent this month.
    the $50mn Palm Beach Gardens Marriott loan (1.59% of deal, 30 days), went delinquent this month. The 279-unit property is located in Palm Beach Gardens, Florida, and financials reported monthly from June to August showed a steady decline to 0.52x from 0.70x versus 1.41x since underwritten.

    http://www.zerohedge.com/article/october-cmbs-performance-worsens-loan-backing-union-square-w-hotel-default-imminently

  212. Essex says:

    Face it folks. We are in pretty deep here. The best plan for NJ is to have an exit strategy.

  213. Shore Guy says:

    We turned our sights towards some lakefront properties up in the Finger Lakes area. Some observations:

    Looking down onto the lakes from the hills, or from waterfront is lovely, but most of the tows, settlements, villages are so run down they make Neptune or the west side of Asbury look good. There are the pockets of WOW, but they are pockets.

    Boneheads from the City bid up prices on anything decent in recent years. Even though many have decided it is not what they thought it would be and they do not like the “local factor” they want what they paid, sometimes plus some.

    Locals have gotten used to the NY money and believe that anyone from outside the immediate area is a mark just waiting to be suckered and they have little patience for dickering over price as they believe that at any moment some fool from The City will come and fall in love with their place and pay any price.

    School taxes in the area make NJ look reasonable. It seems that the lake counties use the lakefront properties (largely non-locally owned) to support the costs of the schools.

    All in all, fuggedaboudit.

  214. Essex says:

    Corzine blew it IMHO, but this new guy is just going to watch the place crumble.

  215. HEHEHE says:

    Clot,

    So what do you friggin short at this point? The ultra’s have been dead man walking for months and I ain’t dipping my toe back into those until there’s at least a tailwind.

  216. make money says:

    Ulqin-albani: Do you have any info Albanian government projects, or are you just hooked into Montenegro stuff?

    Mainly Kosova. Why?

  217. Schumpeter says:

    HE (229)-

    Sticking to shiny and hi-ho; I day trade SRS, always making sure to get out by the bell. Same goes for shorting individual (dead man walking) REITs.

    Was doing some AUD/USD “Ms. Watanabe”-type stuff with my chumpy Forex account, but that trade is more crowded than a g@ngbang line on homecoming weekend.

  218. HEHEHE says:

    Seriously how can you be short anything in this market, it’s all long baby, long, long, long.

  219. make money says:

    ChiFi/This is from NY Times. Did you not know that Albanians run NYC? Russians, Asians, everyone says that Albanians are too violent. I have news for them …CRIMINAL ACTIVITIES ARE A VIOLENT SPORT.

    In court, jurors heard evidence of another gangland showdown between Mr. Rudaj and a Gambino leader. It happened at a gas station in New Jersey, a few days before the fight at Soccer Fever. Arnold Squitieri, then the acting boss of the Gambino family, had sought a meeting with Mr. Rudaj, prosecutors said.

    At Mr. Squitieri’s signal, about 30 of his men appeared, carrying bats, guns and other weapons, but the Albanians were ready. One of Mr. Rudaj’s men put a gun to Mr. Squitieri’s head and another pointed a shotgun at a gas pump, threatening to blow everyone up unless Mr. Squitieri’s men put down their guns, according to prosecutors.

    Mr. Squitieri backed down.

  220. Comrade Nom Deplume says:

    [226] essex

    “The best plan for NJ is to have an exit strategy.”

    I suggest a slight modification.

    “The best plan for NJ residents is to have an exit strategy.”

  221. jcer says:

    I’m thinking we hire some albanians to renegotiate some of the deals the state has with the unions. I think they could cut costs way down, or kill a lot of gov’t workers while trying!

  222. yo'me says:

    The Trade Deficit Leads to a Weaker Dollar, Not the Budget Deficit, Tell the Post

    The Post flunks econ 101 yet again telling readers that the budget deficit threatens to lead to, among other things, a falling dollar. Of course, in econ 101 students learn that the bad story of a budget deficit is that it raises interest rates, which will raise the value of the dollar.

    A trade deficit, by contrast, leads to an excess supply of dollars, which therefore causes the price of the dollar to fall. In places other than the Washington Post, the decline in the dollar is a good thing, leading to increased net exports and an improvement in the trade deficit.

  223. Essex says:

    234. Indeed. Raise your hand if you wouldn’t leave today if you hit it big. Seriously. Why stay???

  224. Essex says:

    At night I look into my wife’s eyes and say…”That Schumpeter is a nice guy”.

    Still Kills me.

  225. Comrade Nom Deplume says:

    [217] sx

    Can’t speak to the history there (may or may not be accurate, and certainly before my time), but the view is hardly new. In fact, 44% of NJ voters hold that view.

    I do find it amusing that she files that missive from a state that is the antithesis of NJ.

    Sort of reminds me of a conversation with an old co-worker, who was pretty far left when there wasn’t much of a left, and had worked for Jesse Jackson when he ran for President. He continually lamented racism and the plight of minorities (he was white, btw). I recalled that he took a very inexpensive honeymoon because we didn’t make much and his wife was still in law school. When his wife graduated law school and landed a job with a white-shoe firm in Boston, he told us he was moving.

    I asked him where. He said “Wellesley.”

    “Susan’s” rant kind of reminded me of that.

  226. make money says:

    JCER,(235)

    I was thinking more of the lines of Omama needing a few votes to pass his healthcare bill. He’s got a lot of TARP monies unaccounted for. All it takes is $1 Billion,some Shiny and see how fast everyone runs to the single payer system.

  227. Essex says:

    Mostly I enjoy the comments on news items from the Times more than the stories. I also look for comments from “insiders”. People with a story to tell. She had one. AZ is screwed as well. I would go as far as to say that if you lose your job in this country right now, ur screwed. We have no viable economy. IMHO

  228. Shore Guy says:

    “wouldn’t leave today if you hit it big.”

    If one “hit it big” one cou;d afford to stay. It is ones who have not that need to reassess their situation.

  229. Comrade Nom Deplume says:

    [237] essex

    Yes, and that raises an interesting tax question.

    Suppose you found out you won the lottery.

    Would you move to PA, or better yet, a nonincome tax state, and then claim your winnings?

    This depends on what the recognition date is, which, I suspect, would be the date of the drawing.

    I don’t know the answer to that, but I suspect that it is, so NY or NJ would look very deeply into your past to see if you were a resident on the date of the drawing.

    And if NJ has a rule that says, you bought it here, it is NJ source income, then would moving to PA trim over 6% off your tax bill?

    Hopefully, I have a real reason someday to research that question.

  230. Essex says:

    I dunno shore. You get locked into the treadmill here. Not cheap enough to put too much away unless you live monastically…yet with one decent cash out you could be “gone” to a cheaper geography.

  231. Essex says:

    First Bruce show was his “River” tour. He played most of that album and Born to Run….guy was onstage for 5 hours that night. Had no where he would have rather been.

  232. Comrade Nom Deplume says:

    [223] james

    “canada” free press?

  233. Shore Guy says:

    From Truganini by Midnight Oil:

    Blue collar work it don’t get you nowhere
    You just go round and round in debt
    Somebody’s got you on that treadmill, mate
    And I hope you’re not beaten yet

  234. Comrade Nom Deplume says:

    [207] morpheus

    you forgot the scheduled cage match.

  235. Essex says:

    I am pretty sure we will all end up in the same place, I will just have more fun getting there.

  236. Essex says:

    243, You attorneys have all the angles.

  237. Shore Guy says:

    Essex,

    During the River I was too poor for concert tickets, and missed that tour. It would have been fantastic to see the first go around. I just hope I get in on Sunday. I will look for some more drops between now and then.

  238. confused in NJ says:

    Look up your NJ doctor here to see if they have malpractice claims against them;

    http://12.150.185.184/dca/

    Interesting to see some of the Million Dollar judgements against some of them. I see one Summit Surgeon with NJ & NY suspensions and Million Dollar judgements against him. I would opt for someone else.

  239. Essex says:

    251. Good the hear things have improved. I blew off a major swim meet to see him that year. It cost me a letter. I didn’t give a F*ck. I changed schools the next year.

  240. lsebik says:

    Can you guys tell me what implications Christie have for small business in NJ? Restaurants, Bars etc?

  241. yo'me says:

    Can the State of NJ do this?

    Please consider Prichard Alabama Files For Bankruptcy.

    Prichard Mayor Ron Davis released the following statement Wednesday morning:

    “I have looked at every opportunity available to obtain money to help fund the retirement plan for the City of Prichard. After careful review of all of our options, bankruptcy protection seems to be the only solution left at this time.

    Over the past 50 years, the pension plan was amended by the Legislature more than fifteen times, and always the economic burden on the City was increased. This has been a long term problem that was unfortunately inherited by this administration.

    After several lawsuits filed by pensioners, it has forced us to come to this decision, one that will protect the city and its residents. I hope that a solution can soon be found that will be fair to all. As Mayor, it is my duty to make sure that the City of Prichard continues to move forward by providing essential municipal services and to operate for the benefit of its citizens.”

  242. safeashouses says:

    #119 Shore Guy,

    No tofu for you? We eat that 2 or times a week.

  243. safeashouses says:

    239 Shore guy,

    I wonder if you old co-worker knows the judge in Boston who ordered the schools get desegregated by busing. Same judge was sending his kids to private school.

  244. safeashouses says:

    #257 should be Nom.

    sigh.

  245. willwork4beer says:

    152 lisoosh

    FWIW, I think your plan has a lot of merit. If you were to take the ingredients seperate from the roll, you could throw them into a hot skillet, toss them around until hot, and deposit them in the roll and end up with something fairly authentic. They always have everything waiting to go before mixing it up on the grill, anyway. No reason why you couldn’t take it like that and put it together at home.

    With all due respect to Comrade Nom, I disagree on both points. As long as its not really busy, you’re nice about it and you explain that it has to travel, they probably would wrap the insides in foil and hand you the roll. Second, they don’t call it “the Philly lean” for nothing. A good cheesesteak is so juicy you have to lean over or you will be wearing your lunch. No way that doesn’t get soggy after an hour or two, no matter how its wrapped. Philly cheesesteaks are meant to be eaten on the spot, trust me, they don’t travel well and they suffer quite a bit from reheating.

  246. Sean says:

    Speaking of food, I haven’t been home from work for a week long stretch in years, we are cooking a nice turkey spinach lasagna for dinner, yUM,yUM,yUM…..

  247. Comrade Nom Deplume says:

    [259] WWFB

    No worries. I lived there for several years but do not claim expertise on things Philly, notably cheesesteaks which I did not eat very often (and never took anywhere).

    In fact, I would not let myself be called a Philadephian. Didn’t seem right.

  248. Comrade Nom Deplume says:

    [257] safe,

    If memory serves, the Judge’s name was Garrity, and he was reviled in Southie and Charlestown, etc.

    Did not know that about his kids, but not surprised. Back then, public schools in the Boston area did not have a good rep. If he could afford Pingree, Choate, or Phillips Andover, why not?

  249. BC Bob says:

    Essex,

    The River is classic. I get The Wild, Innocent @ E Street Shuffle, Sat, MSG.

  250. Comrade Nom Deplume says:

    [255] yo’me

    No, a state cannot declare bankruptcy under Title 11 of the US Code.

    It can, however, default and try its luck in court with its creditors, I suppose.

  251. lisoosh says:

    Beer -I agree. I’m going to give it a shot and I can pull the girly thing, that always helps.
    Finally made it to Oak Tree Buy Rite. Impressive. I think Supersaver might have a few more Brit beers but the Buy Rite is the winner on Belgians and local brews.
    They were out of the Dark Isle unfortunately although he did know what I was talking about.

  252. lisoosh says:

    Can a state dump its pension obligations?

  253. Shore Guy says:

    Lisoosh,

    I don’t think that state plans are governed by ERISA, so, I suspect, it comes down to basic contract law.

  254. Schumpeter says:

    A state can sure as heck prod, goad and shove its municipalities into BK.

    IMO, this is what NJ should do. A Repug (Whitman) started the whole Ponzi of borrowing against pension assets, and a Repug (Lardass) should deliver the kill shot.

  255. Schumpeter says:

    Hey, Kids! Get happy…

    Is The Federal Reserve Accepting Illiquid CMSs As Collateral For TALF Loans?

    http://www.scribd.com/doc/22126889/Is-the-Federal-Reserve-Accepting-Illiquid-CMSs-as-Collateral-for-TALF-Loans

  256. Schumpeter says:

    From the article in #269, other notable TALF collateralizations:

    Cabela’s Credit Card Master Note Trust
    World Omni Auto Receivables Trust 2009-A

    Honest to God, these dolts would’ve done better taking handwritten IOUs.

  257. Schumpeter says:

    I don’t shill my own posts, but please read the entirety of the report linked at #269 (it’s short).

    FedCo is a racketeering enterprise and should be audited and shut down forthwith.

  258. still_looking says:

    269, Schump

    Hanging out on ZH? :)

    Ditto SRS daytrade… :) .vix is in the house!

    sl

  259. still_looking says:

    Woke up a bit ago.. working tonight (ick.)

    Cannot even begin to address the health/med/doc/malpr/salary etc posts….

    WRT NJ politics… still have not planted roots here. ’nuff said.

    sl

  260. Comrade Nom Deplume says:

    [270] schump

    Ironic considering how well Cabela’s has been doing, thanks to its number one salesman.

    http://www.flickr.com/photos/rememberyouroath/3408826438/

    Maybe they should have bought the common.

  261. Comrade Nom Deplume says:

    Okay political junkies, here is a headscratcher for you.

    Maine voters overturned the state’s gay marriage law. Unexpected, but well, okay, they did it. That suggests large conservative turnout.

    But there were tax measures on the ballot too. Sooooooo, one would expect an anti-tax vote there.

    “BOSTON—Voters in Maine Nov. 3 rejected ballot proposals to require voter approval for spending and tax increases and to reduce automobile excise taxes.

    For the second time in three years, voters turned back a ballot measure, labeled the Taxpayer Bill of Rights (TABOR), that would have capped spending and required voter approval for spending or tax hikes. The vote was approximately 60 percent to 40 percent to reject the proposal. The measure would have limited state expenditures to increases in inflation and population growth and would have returned to taxpayers 80 percent of any revenues exceeding the expenditure limit. Spending beyond the imposed limits and any tax increases would have been subject to majority approval by the Legislature and by voters.

    The excise tax proposal, defeated by a 74 percent to 26 percent margin, asked voters: “Do you want to cut the rate of the municipal excise tax by an average of 55 percent on motor vehicles less than six years old and exempt hybrid and other alternative energy and highly fuel-efficient motor vehicles from sales tax and three years of excise tax?”

    Was everyone given the same ballots up there???????

  262. BC Bob says:

    “Is The Federal Reserve Accepting Illiquid CMSs As Collateral For TALF Loans?”

    Schump,

    Yet, the fed has a plan to withdraw liquidity? Who wants to buy the crap on their balance sheet? Janet may be yellin, the fed won’t be sellin.

  263. Comrade Nom Deplume says:

    [254] lsebik,

    I am on record as saying that precious little will change in NJ under Christie.

    Time will tell.

  264. jamil says:

    277 comrade: Governor will not sleep with unions anymore, I hope. I mean literally and/or figuratively.

  265. jamil says:

    275 comrade:

    didn’t NJ voters also approve massive new spending via new bonds?

  266. confused in NJ says:

    Q. Can a state declare bankruptcy?

    A.No, there is no authorization for states to do so under the United States Code.

    Municipalities are explicitly authorized to declare bankruptcy 11 U.S.C. 109:

    “(C) An entity may be a debtor under chapter 9 of this title if and only if such entity-
    (1) is a municipality;
    (2) is specifically authorized, in its capacity as a municipality or by name, to be a debtor under such chapter by State law, or by a governmental officer or organization empowered by State law to authorize such entity to be a debtor under such chapter;
    (3) is insolvent;
    (4) desires to effect a plan to adjust such debts; and
    (5) (A) has obtained the agreement of creditors holding at least a majority in amount of the claims of each class that such entity intends to impair under a plan in a case under such chapter;
    (B) has negotiated in good faith with creditors and has failed to obtain the agreement of creditors holding at least a majority in amount of the claims of each class that such entity intends to impair under a plan in a case under such chapter;
    (C) is unable to negotiate with creditors because such negotiation is impracticable; or
    (D) reasonably believes that a creditor may attempt to obtain a transfer that is avoidable under section 547 of this title.”

    11 U.S.C. 101(40), in turn, defines municipality as a “political subdivision or public agency or instrumentality of a State.”

    Given that municipalities are explicitly authorized to declare bankruptcy and states aren’t, a bankruptcy judge would most likely conclude that Congress intended not to make bankruptcy relief available to states.

  267. jamil says:

    confused:
    “A.No, there is no authorization for states to do so under the United States Code.”

    Rule of law is so 2008. Current administration will do whatever it wants regardless of law (see which parties got paid first in Chrysler bonds – secured creditors or union thugs).

    Of course, this admin does not want states to do that so it would just pass a legislation or executive order to hand out money from red states to failed states, e.g. “Blind Orphans and Secure Pension Protection Act” which guarantees 100% of all public pensions.

  268. Comrade Nom Deplume says:

    (279) Jamil

    I stand corrected, I think.

  269. confused in NJ says:

    The states can’t declare bankruptcy, per se, but every municipality in state can. So if the state does a bankruptcy bundle of all municipalities, and has courts nullify all contracts, problem solved.

  270. willwork4beer says:

    261 Nom

    I lived there and then went to grad school there at different times. (Don’t ask – it made sense at the time).

    I’m not a “Filluffian” either but when in Rome…

  271. ruggles says:

    275 – Nom, liberals are bigots too.

  272. james says:

    House Speak Rat Face Pelosi beefing up security ahead of an anti-government run healthcare rally in DC tomorrow. Congrsswoman Bachman states that Pelosi is a very powerful person that can control movement around the capitol. All this after 1 million peaceful folks were completely ignored on 9/12. They didnt do as much as litter.

  273. james says:

    Maxine Waters, Marxist and enemy of freedom, led a vote, that will give ACORN control over the regulation of financial institutions. This is insane.

    The Waters amendment passed on a vote of 35-33.

    The following is a list of Representatives from New York who voted to allow ACORN to regulate financial institutions:

    Gary Ackerman – NY 5th district;

    Gregory Meeks – NY 6th district;

    Jerrold Nadler – NY 8th district;

    Nydia M. Velazquez – NY 12th district;

    Carolyn Maloney – NY 15th district;

    Daniel Maffie – NY 25th district

  274. Shore Guy says:

    The Democrats in DC are living in Wonderland. This from the NY Times (via Google news):

    WASHINGTON – Blaming election setbacks on a drop in voter enthusiasm, Congressional Democrats said Wednesday that losses in governors’ races in Virginia and New Jersey… should give new urgency to their legislative agenda, including a sweeping health care overhaul.

    snip

  275. Shore Guy says:

    From CBS. Another sign that B.O.’s appeal is starting to crumble? Is that Hillary I hear waiting toaunch a challenge in ’12?

    Gay Leaders Blame TV Ads, Obama For Loss In Maine

    Nov. 04, 2009

    SAN FRANCISCO (AP) – Stunned and angry, national gay rights leaders Wednesday blamed scare-mongering ads – and President Barack Obama’s lack of engagement – for a bitter election setback in Maine that could alter the dynamics for both sides in the gay-marriage debate.

  276. Outofstater says:

    Okay, I just received this: “Obama Poised To Cede Sovereignty?”
    Please de-bunk it, one and all. Please tell me this is total hogwash. Thank you.
    http://www.youtube.com/watch?v=PMe5dOgbu40

  277. james says:

    #294

    That is the Copenhagen Treaty and its as real as it gets. The Constitution requires all treaties to be ratified by 2/3 of the Senate. The Cap n Trade bill that passed the House at 10pm on a Friday night in June has most of the financial provisions outlined in the Copenhagen treaty in it. So is there political monkey business going on? I would assume so. Supporters of the Copenhagen treaty will be tried for treason.

    PDF file of the treaty can be read here.
    http://wattsupwiththat.files.wordpress.com/2009/10/un-fccc-copenhagen-2009.pdf

  278. james says:

    Shore, are you buying any Gold/Silver? If not what are you doing to protect against the dollar decline. The reason I ask is because the G20 Finance Ministers and Central Bank Governors, meeting in St. Andrews, Scotland this weekend. Nothing good ever comes out of these meetings.

  279. jamil says:

    shore 292: maine voters sided with obama and rejected gay marriage.

  280. Sean says:

    james – before you overreact over the next few months there are lots of treaties that the US is party to including the WTO and NAFTA.

    Some of the better ones have been the Moon treaty and the Anartica Treaty. Don’t lose it over carbon tax please.

  281. james says:

    Sean,

    I wont be the one losing it thats the problem.

  282. safeashouses says:

    300!

  283. Sean says:

    James – relax and see how it plays out. Right now the Dems have a majority in the House and Senate, there is little chance before midterm elections that anyone can do anything to stop them.

    Also remember the next Pres can repudiate any treaty just like GWB did in 2002 with the ABM (Anti-Ballistic Missile Treaty) that was signed in 1972 by Richard Nixon.

  284. BC Bob says:

    James ]296],

    Protect against dollar decline? Ahead of the curve?

  285. james says:

    302.

    What are you talking about.

  286. Sean says:

    James – G20 = meeting on how to pay off debt by printing money. They are all doing it, they meet just to discuss how much printing is needed this quarter.

  287. BC Bob says:

    James [303],

    The dollar index is down approx 40% since 2001. It has been crushed, recently, by the loonie, aussie, real, etc.. Looking for protection now? The barn has burnt down.

    Maybe a better idea, play contrarian?

  288. james says:

    Yeah well Bob, In 2001 I didnt have 2 nickels to rub together so it didnt much matter.

  289. safeashouses says:

    Yankees win!!!!!!!!

  290. Qwerty says:

    http://www.google.com/hostednews/ap/article/ALeqM5jMNoef6xDenBbHWO0Im6rIjDmAgAD9BOJH300

    Associated Press

    STIMULUS WATCH: Salary raise counted as saved job

    By BRETT J. BLACKLEDGE and MATT APUZZO – 22 hours ago

    WASHINGTON — President Barack Obama’s economic recovery program saved 935 jobs at the Southwest Georgia Community Action Council, an impressive success story for the stimulus plan. Trouble is, only 508 people work there.

    About two-thirds of the 14,506 jobs claimed to be saved under one federal office, the Administration for Children and Families at Health and Human Services, actually weren’t saved at all, according to a review of the latest data by The Associated Press. Instead, that figure includes more than 9,300 existing employees in hundreds of local agencies who received pay raises and benefits and whose jobs weren’t saved.

    But officials defended the practice of counting raises as saved jobs.

    “If I give you a raise, it is going to save a portion of your job,” HHS spokesman Luis Rosero said.

    The latest stimulus report, released Friday, significantly overstates the number of jobs spared with money from programs serving families and children, mostly the Head Start preschool program. The report shows hundreds of the programs used nearly $323 million to provide pay raises and other benefits to their existing employees.

    The raises themselves were appropriate — the stimulus law set aside money for Head Start salary increases — but converting that number into jobs proved difficult. The Obama administration told Head Start officials to consider a fraction of each employee as a job saved.

  291. Ingrid says:

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