Thu 19 Nov 2009
1 out of 7 NJ mortgages in trouble
Categories: Housing Bubble , New Jersey Real Estate , Risky LendingFrom the Record:
N.J. troubled mortgages grow to 14.5%
As unemployed homeowners struggled to pay their mortgages, the percentage of New Jersey loans in foreclosure or at least a month behind on payments hit 14.5 percent in the third quarter, the Mortgage Bankers Association said Thursday.
That means that almost one of every seven mortgages in the state was in trouble. The nationwide percentage of delinquent or foreclosed mortgages was a record 14.4 percent, up from 10 percent a year earlier.
The rise in unemployment is the main driver behind the rise in foreclosures, according to Jay Brinkmann, the mortgage bankers’ chief economists. Despite the apparent end to the recession, unemployment is running at the highest level in decades — 9.7 percent in New Jersey and 10.2 percent nationwide in October.
“Mortgages are paid with paychecks,” Brinkmann said. As the number of unemployed people jumped by about 5.5 million over the past year, two million mortgages fell into serious delinquency, he said.
And he said mortgage delinquency rates and foreclosures “will continue to worsen before they improve,” because hiring is not expected to pick up until the first or second quarter of 2010.
While subprime mortgages remain the most distressed sector of the market, the number of new delinquencies is growing faster among prime mortgages, which were taken out by qualified borrowers. Those prime borrowers tend to have more savings to support themselves during unemployment, Brinkmann said. But if they are out of work for a long period, eventually even they find it difficult to hang on to their homes.
…
New Jersey ranked fifth, right behind those states, in the percentage of loans in some stage of the foreclosure process during the third quarter. With home values down about 20 percent from their peak in the region, many homeowners who lost their jobs and fell behind on mortgage payments couldn’t just sell their houses without taking a loss.
…
“We’re seeing people with exploding mortgages that have just started to explode,” Salowe-Kaye said.
1 out of 7 NJ mortgages in trouble
Look at the bright side, 6 out of 7 morgtages are *not* in trouble. Woo Hoo!
M-F- Bast—s F— ALL OF THEM!
Pequot Worker Told Therapist That Samberg Sought Tips
By David Scheer and Jesse Westbrook
Nov. 19 (Bloomberg) — A former Pequot Capital Management Inc. employee now at the center of a U.S. insider-trading probe told his psychologist that the hedge-fund firm fired him in 2001 after he stopped delivering secret information on Microsoft Corp., the therapist said in a deposition.
David Zilkha, who had previously worked at Microsoft, said he was supervised by Pequot founder Arthur Samberg, who pressed him for insider information, psychologist Peggy Thomson testified in an Oct. 15 proceeding tied to Zilkha’s divorce, according to a transcript obtained by Bloomberg. Thomson said she performed a psychological evaluation of Zilkha in June and July last year.
“He said that Mr. Samberg wanted him to get inside information on Microsoft,” the transcript quotes Thomson as saying, recalling their conversations. “Mr. Zilkha stopped providing it, he was fired.”
Samberg, 68, and Pequot, once the world’s biggest hedge- fund manager, told investors in August that the Securities and Exchange Commission had sent them a so-called Wells notice, warning it may bring civil claims against them after an investigation of their trades in Microsoft, the world’s biggest software maker. Such allegations “are without merit” and would be defended “vigorously,” the firm wrote in the letter.
Jonathan Gasthalter, a spokesman for Samberg and for the Wilton, Connecticut-based firm, declined to comment on the deposition. Authorities haven’t accused them of wrongdoing. SEC spokesman John Nester declined to comment.
Hedge-Fund Crackdown
Norman Pattis, an attorney representing Zilkha, didn’t respond to phone messages and an e-mail seeking comment. Calls to Zilkha’s mobile phone were answered by a voicemail system that wouldn’t accept new messages. Thomson didn’t respond to a message left at her office. She gave the deposition with Zilkha’s consent, the transcript shows.
During a separate deposition in the divorce, Zilkha repeatedly cited the U.S. Constitution’s Fifth Amendment in declining to answer questions about Pequot, a transcript shows.
The regulator, working in tandem with federal prosecutors, is in the midst of the biggest U.S. crackdown on hedge fund insider trading. Since October, it has sued more than 20 people and firms, including billionaire Raj Rajaratnam and his New York-based hedge fund operator, Galleon Group. They deny wrongdoing.
‘Insider Information’
While that case has shaken Wall Street, the agency’s oversight of Pequot has repeatedly drawn criticism from senators including Iowa Republican Charles Grassley and Pennsylvania Democrat Arlen Specter. In a joint letter to SEC Chairman Mary Schapiro yesterday, they said they have obtained the depositions and offered to pass copies to the SEC. Federal prosecutors in Manhattan already have the documents, they said.
Thomson’s testimony “revealed that Mr. Zilkha admitted that he provided Arthur Samberg with insider information (i.e. tips) and was fired after he was unable to provide additional tips,” the lawmakers wrote.
The senators’ interest began in 2006, after former SEC attorney Gary Aguirre claimed supervisors had blocked him from investigating whether Pequot got confidential tips from Morgan Stanley Chief Executive Officer John Mack. The agency fired Aguirre in 2005, and supervisors later told Congress he refused supervision and worked poorly with colleagues.
Case Is Reopened
An August 2007 report released by Senate staff members working for Grassley and Specter found “no convincing evidence” that Aguirre behaved unprofessionally while working at the agency. The SEC’s inspector general said in an October 2008 report that the agency mishandled Aguirre’s termination and recommended that supervisors be disciplined.
The first Pequot probe closed in 2006, with the agency writing in an internal memo that it was “extremely unlikely” Mack leaked information. Separately, Samberg gave an alternate justification for some Microsoft bets, the memo said.
The agency reopened the case after learning of documents showing Zilkha may have obtained previously unknown information about Microsoft, people familiar with the matter said in January.
Investigators and Zilkha’s ex-wife also learned Pequot had secretly agreed to pay Zilkha $2.1 million. Pequot has said that Zilkha, who spent less than a year at the firm, had threatened to file an employment claim related to his termination by the firm. His ex-wife has been using the divorce proceeding to get information on the deal. Thomson began her testimony by recalling Zilkha’s work, including time at Pequot.
‘Different Expectations’
“He was fired from that position apparently according to my notes because they had different expectations,” Thomson said, according to the transcript. “Mr. Zilhka stated that his supervisor expected him to provide sort of insider information about his previous company.”
Samberg started Pequot Partners fund in 1986 while he was at Dawson-Samberg Capital Management Inc., a Southport, Connecticut-based money-management firm. He spun off Pequot Capital at the start of 1999, and by 2001 the firm had $15 billion in assets, making it the largest hedge fund in the world at that time.
In a letter in May, he told investors he planned to liquidate his main hedge funds after the new federal insider- trading investigation “cast a cloud” over the firm. In a regulatory filing this week, Pequot said it had $25.3 million invested in three remaining stocks, Advanced Micro Devices Inc., FiberTower Corp. and InterOil Corp.
Stick their faces in the sh!tter and flush until they drown!
JJ: Remake of Bad Lieutenant
‘Bad Lieutenant: Port of Call New Orleans’
A defining moment in “Bad Lieutenant: Port of Call New Orleans” comes when Nicolas Cage’s rogue cop, Terence McDonagh, pulls up to a seedy building to make an arrest. Terence doesn’t lack for company—the area is chockablock with police cars and heavily armed cops—but he goes in alone, .44 Magnum at the ready, brings the bad guy out and, with a maniacal sparkle in his eye, shouts, “I love it! I just love it!” The sparkle is what’s been missing in the star’s recent performances. What’s not to love in a movie that transmutes Terence’s moral squalor, and the squalid state of post-Katrina New Orleans, into darkly comic gold?
View Full Image
First Look Studios
Nicolas Cage and Eva Mendes in ‘Bad Lieutenant: Port of Call New Orleans.’
.For decades now, Mr. Cage has been the embodiment of over-the-edgeness. His haunted, chronically depressed characters have seen too much or done too much, and he’s done so many of them that it may be tempting to pass on the pleasure of this one’s company. Don’t pass, though; the pleasure is real, and sometimes intense. The depressive side of the lieutenant’s personality often explodes into eerie elation. Terence enjoys doing really bad things—drugs and pills being the least of them—even though he keeps getting sandbagged by an urge to do good things, such as solving the murder of a family of illegal Senegalese immigrants. (Eva Mendes is his lover, Frankie, a prostitute with an expensive drug habit. Alvin “Xzibit” Joiner is a suave thug named Big Fate.)
“Bad Lieutenant: Port of Call New Orleans” was written by William Finkelstein and directed by Werner Herzog, a filmmaker and documentarian with a gleeful affinity for the aberrant. (One of his characters was obsessed by grizzly bears, another with hauling a steamship over the Peruvian Andes.) Rather than a conventional remake, it’s a whole new take on the 1992 cult classic “Bad Lieutenant,” which was written and directed by Abel Ferrara. Mr. Ferrara, a filmmaker with a peerlessly bleak vision of contemporary life, has expressed outrage at the very existence of the Herzog version—both films were produced by Edward R. Pressman—but that’s a sentiment I can’t share. The earlier film is remarkable for Harvey Keitel’s performance as a corrupt and brutal cop in search of redemption; otherwise it’s punishingly grim. If the new film commits the sin of entertainment, it’s redeemed by a sense of life’s contradictions and distinguished by surreal flourishes that include a pair of iguanas, slithery witnesses to Terence’s mania
Note the town and region names in this story from the BBC about homes underwater in the UK. I don’t know how one would maintain a straight face telling someone where one lives.
http://news.bbc.co.uk/nolpda/ukfs_news/hi/newsid_8366000/8366360.stm?
Shore -thought it might be like some UK names where letters are dropped in pronounciation.
But no:
http://forvo.com/word/cockermouth/
14%
not too far from unemployment rate.
SAS
Deflation hits Japan
http://online.wsj.com/article/SB125868506163956865.html?mod=article-outset-box
snip
Separately, Finance Minister Hirohisa Fujii also expressed concerns about recent price falls.
While Mr. Fujii didn’t make any requests to the central bank about its policy, he said: “Regardless of whether we call it deflation or not, the recent price falls are not right and worrisome. This is one of the major policy issues right now.”
If the government officially declares Japan in a state of deflation it would come after recent data showed that the domestic demand deflator, a measure of changes in prices of goods and services, plunged at its fastest pace in over 50 years, down 2.6% on year during the July-September period. The core consumer price index, which excludes fresh food prices, also fell for the seventh straight month in September, down 2.3% from a year earlier.
snip
re. #5, “Welcome to C0ckermouth,Cumbria”
speaking of percentages.
got in a haggle today with the damn Canadians that work the ttimber subsidies policies.
those son of a guns.
timber subsidies are killing American timber industry.
man, this country is really getting looted.
but, SAS always has a plan B.
I have connections in the middle east that are in desperate need of timber. so, working on connecting middle east with some Lumber mills and gasification outfits from the midwest.
Those god damn Canadians… especially the French ones!
SAS
mobile gasification. Its really interesting.
SAS
181.BC Bob says:
November 19, 2009 at 9:30 pm
50.5,
Larry Crudelow wants the fed to raise rates to protect King Dollar. Music to a RE Terrorist’s ears. Actually, bring in Tall Paul, blow the doors off the hinges.
182.BC Bob says:
November 19, 2009 at 9:32 pm
50.5,
There’s a new stimulus package on its way, including a federal tax holiday. You’ll be rolling down the red carpet for O.
BC Bob, his name is Kudlow, not Crudelow. Stop absuing the man’s name.
A slight rise in the interest rate is fine if that’s what Larry wants. We need to protect the dollar, but we don’t want the interest rate to go too high as that might make my debt service a little harder to handle. Volcker needs to keep his tall ass right where he is. He is so yesterday and knows nothing about managing a modern day currency. He’d destroy this country in two seconds straight. Bernanke and Greenspan have much better bedside manners and won’t cause much pain.
We need deep tax cuts to pull us out of the muck the real estate terrorists have created.
From the WSJ:
Stimulus-Jobs Tally in Doubt
The White House stepped back Thursday from its tally of the number of jobs its economic-stimulus package has created or saved through September in the face of mounting criticism over errors in reports filed by recipients of stimulus money.
The move came after a testy hearing Thursday of the House oversight committee in which Earl Devaney, chairman of the Recovery Accountability and Transparency Board, which is responsible for monitoring the stimulus, said the number of jobs displayed on the official government stimulus Web site, recovery.gov, at 640,329 was possibly inaccurate.
“It may be a fact that that’s what’s on my Web site, but that may not be the correct number,” Mr. Devaney testified.
From CNBC:
The ‘Real’ Jobless Rate: 17.5% Of Workers Are Unemployed
As experts debate the potential speed of the US recovery, one figure looms large but is often overlooked: nearly 1 in 5 Americans is either out of work or under-employed.
According to the government’s broadest measure of unemployment, some 17.5 percent are either without a job entirely or underemployed. The so-called U-6 number is at the highest rate since becoming an official labor statistic in 1994.
The number dwarfs the statistic most people pay attention to—the U-3 rate—which most recently showed unemployment at 10.2 percent for October, the highest it has been since June 1983.
The difference is that what is traditionally referred to as the “unemployment rate” only measures those out of work who are still looking for jobs. Discouraged workers who have quit trying to find a job, as well as those working part-time but looking for full-time work or who are otherwise underemployed, count in the U-6 rate.
With such a large portion of Americans experiencing employment struggles, economists worry that an extended period of slow or flat growth lies ahead.
“To me there’s no easy solution here,” says Michael Pento, chief economist at Delta Global Advisors. “Unless you create another bubble in which the economy can create jobs, then you’re not going to have growth. That’s the sad truth.”
Economic refrain: ‘We’re forever blowing bubbles’
If stocks keep ascending with no recovery in employment and consumer demand, the end of the world in 2012 might be more than a movie fantasy. You’d see the third investment crash in less than a dozen years. Assets would again become worth less than the money borrowed to buy them. Bankruptcies would ensue.
By many accounts there is tense debate within the Fed. Is it worse to leave interest rates and the money supply at their present lavish levels and risk a new bubble? Or is it worse to start raising rates and risk another recession?
The economic recovery is “solidly under way,” Jeffrey Lacker, president of the Richmond Federal Reserve Bank, told the Virginia Legislature this week. As the Fed considers whether to raise rates, he said, “we cannot be paralyzed by patches of lingering weakness.”
He’s kidding, right? Fifteen million unemployed Americans are a lingering sign of weakness?
On the other hand, unemployment is 10 percent today largely because the Fed kept rates too low too long after the Internet crash. Until the Fed shows it’s serious about raising rates, stocks will keep rising. If there’s one thing we’ve learned, it’s that we can’t fix a burst bubble by blowing another one.
Stock market rally may have already passed its apex
Minutes before I was ready to go on air with my radio program I received a call from my long-time good friend Ian Gordon, who predicted the market would peak on Friday, November 13. In addition to his usual work, Ian based his views on the core of work carried out by W.D. Gann, a brilliant market forecaster who was known for his analysis of cycles and trading patterns in equities as well as commodities. It remains to be seen if this Friday, November the 13th, was the top of the B wave up. If it turns out to be so, it would be very consistent with Dr. Robert McHugh’s latest views that we are very near the end, based on Elliott wave patterns and a host of other indicators. The market has seen a moderate rise from the 13th, but still believe it is close.
http://www.stockhouse.com/Columnists/2009/Nov/19/Market-bubble-set-to-burst
Gator,
No more bloodletting at 4 squared this year?
Seems like the last week or so, some significant reductions in asking prices of homes. Wonder if it is just a few select folks who need to sell now or if there is a bit of panic / reality setting in that housing may drop another 10% - 15%
Anyone have a guess as to how much more economic support our government can afford? It cannot go on indefinitely.
With home values down about 20 percent from their peak in the region, many homeowners who lost their jobs and fell behind on mortgage payments couldn’t just sell their houses without taking a loss.
What’s this 20% reduction? I’ve got listings printed out from early 2006 and they are basically the same asking prices as I’m receiving today.
It seems there are now more homes for sale below 500k in the towns we’re interested in then there were in June.
Also noticing an increase in dads picking up the kids from school and an increase in # of cars in household driveways during normal business hours. I’m sure some of it is driven by people using vacation days by the end of the year, but not all of it.
Safe the traffic has been much better during rush hour. Just my humble observation.
17.
A second wave of foreclosures is poised to hit the market, potentially undermining housing recovery efforts as more homes add to the glut of inventory and drive down prices.
These homes largely represent loans that are delinquent but have not yet resulted in foreclosure sales.
About 7 million properties are destined to go into foreclosure, according to a September study by Amherst Securities Group, compared with 1.27 million properties in early 2005.
“There’s a huge supply out there,” says Dean Baker, co-director of the Center for Economic and Policy Research in Washington, D.C. “The foreclosure process can take a long time. When it comes to (the housing recovery), we’re not home free.”
There is often a long lag time between a borrower going delinquent and the bank taking the home. Here’s why:
•Moratoriums. New state laws imposing short-term moratoriums have slowed the timeline from delinquency to foreclosure.
•Overwhelmed lenders. Banks dealing with a surge in refinancing, mortgage modifications and defaults are overwhelmed with demand, so it can take longer to initiate a foreclosure sale.
•Modifications. Many loans now are first examined to see if they might qualify for a modification. This drags out the timeline and means it is taking longer for homes to go into foreclosure.
•Asset write-downs. Banks may in part be waiting to liquidate homes through foreclosure because they don’t want to write down the value of the asset. Lenders can keep homes on the books at a higher value until they are sold at foreclosure.
“There is a lot of foreclosed property in the pipeline that will hit the market and depress prices,” says Mark Zandi at Moody’s Economy.com. Foreclosed homes often sell at prices below those on the market and can therefore drag down overall home values.
http://www.usatoday.com/money/economy/housing/2009-11-19-shadow19_ST_N.htm?csp=34&utm_source=feedburner&utm_medium=feed&utm_c
“We’re seeing people with exploding mortgages that have just started to explode,” Salowe-Kaye said.
Blow the whole thing to smithereens. it’s our only hope. Raise interest rates, defend the dollar, blow out the speculators, provide real incentives to save, produce and assist small businesses in creating jobs. Otherwise, it’s dead man walking, sucking the teet of the govt. That is, until there’s zero left to suck.
Suppose one day, there’s a treasury auction and nobody shows up. Sell. Sell to whom? Is our only hope, print to to oblivion?
A realtor at an open house this past weekend told me that there are some bidding wars going on and prices are ready to rise this spring. The honest truth.
“1 out of 7 NJ mortgages in trouble”
Who cares? Obama is going to pay their mortgage (with your money, of course).
“anyone have a guess as to how much more economic support our government can afford? It cannot go on indefinitely”
B.O.’s comments in China seem to indicate that the Chinese took him to the woodshed on adding to the debt for any additional stimulus. In fact, I wonder if one or two fencesittind Dem senators have been givwn the okay to vote against clotsure for the healthcare bill, as a way to force more cost reductions and bail out the administration on the issue of added debt. After all, why would the Chinese see any benefit in buying debt denominated in a sinking curency to provide healthcare to Americans when many Chinese citizens, more than the total number of people living in the United States, lack it?
13- I don’t really understand how one can quit looking for a job, especially if unemployment has run out. Unless you are being supported by someone else I can’t imagine this. Does this mean they go on some other form of gov’t assistance? Who are they asking if they have given up looking? Probably some people get discouraged and give up looking for maybe a few weeks but not forever, right?
BC,
The problem came about when finance became an “industry” rather than a mechanism for supporting industry.
Besides WS bonuses, speculator gains and dropping $ into deep, black, sinking holes, how’s your govt’s stimulus working? How’s the temp on Main St?
http://research.stlouisfed.org/fred2/graph/?chart_type=line&s1id=CIBOARD&s1transformation=pc1
Shore [26],
Exactly. We shuffled paper throughout the world. Can’t understand why there is no present, foreign participation in our agengy market? Yet, we have the balls to tell our bankers to float their currency. Is there anybody alive in DC?
agency.
BC Bob,
We’ve got hope and change, what more do you want? :o
Hey, we understand you own $2T of our worthless paper. However, we would like you to increase your currency bands by 10%. This will only result in a $200B hit to your reserves. Trust me, it’s the right thing to do.
If it wasn’t so sad, it would actually be funny.
BC (21)-
So far, it appears to be the only idea, the only plan, the only Hail Mary that Eraserhead, Bergabe and the dolts running our country into the ground can agree to pursue.
Welcome to another day closer to oblivion. Got shiny? Check. Got Ruger? Check. Got Mossberg? Check.
“Suppose one day, there’s a treasury auction and nobody shows up. Sell. Sell to whom? Is our only hope, print to to oblivion?”
gary (22)-
I get bidding wars on short sales that I deliberately underprice.
The only thing coming this Spring are more foreclosures…plus all the new inventory generated by current homeowners who put their houses up for sale to get the $6,500 tax credit.
That’s it.
Mark May 1, 2010 on your calendars. There will be a giant sucking sound on that day, as demand for housing might just go to 0.
how long can you stay in you home when
in forclosure? 1 yr, 2
BC (31)-
I’ve heard better pleas from drunkards in the subway.
freedy (35)-
18 months, easy. Two years, not a problem if you play it right.
A couple more programs and moratoria, and I bet you can stretch it to three years.
Schumpeter,
What’s the significance of 5/1/10?
gary that is the day the tax credit officialy ends, but we all know it will be extended
“Look at the bright side, 6 out of 7 morgtages are *not* in trouble. Woo Hoo!”
Not yet :P
# think your right ,, in NJ they are
going to go to the Mediation route to
keep from tent cities
Just saying:
Thu, Nov 19 2009, 05:50 GMT
by Andrew Wilkinson
Interactive Brokers LLC
“SLV - iShares Silver Trust ETF – A bull call spread in the January 2011 contract on the silver ETF today suggests shares of the SLV may rally significantly over the next year and two months time. Shares of the SLV are currently up 0.5% to $18.23. The silver-bull purchased a ratio call spread by buying 3,000 calls at the January 23 strike for an average premium of 1.93 apiece, and selling 6,000 calls at the higher January 30 strike for about 90 cents each. The net cost of the transaction is reduced to just 13 cents per contract. Shares of the fund must rally at least 27% before the investor breaks even at a price of $23.13. The trader stands ready to accumulate maximum potential profits of 6.87 per contract if the stock surges up to $30.00 by January 2011.”
i’m from trenton , here to help you
Pain [39],
Bingo. It will probably be increased at that time. 6 months away from mid-term elections? Like pigs playing in a pile of s#it.
I see multiple bids over asking on this one:
http://www.realtor.com/realestateandhomes-detail/180-Forest-Ave_Ramsey_NJ_07446_1110027280
Gary [45],
I think Schump should share some of that Knob Creek w/Ginny?
Next H0locaust:
“CRE is possibly the single biggest experiment in “extend and pretend” currently evolving (aside from the US economy itself, which like a drug addict, is fed its daily methadone of fiat money by its enablers Bernanke and Geithner) in America. This is confirmed by the latest Korpacz Real Estate Q3 Investor Survey: far from pig lipsticking in tried and true CNBC fashion, the report tells it how it is. The biggest victim of the ultimate CRE unwind will be all those REITs which for whatever reason are trading at almost bubble levels (SPG at $74 makes about as much sense as AMZN at $130). Dear REITs: 2012 is approaching rapidly and you still have half a trillion in equity you need to raise. Simon Property, as much as it wishes to emulate Goldman’s success in the real estate arena, can not bankrupt then acquire all REITs at firesale prices. Of course, when the tide of sentiment on REITs turns, it will be short and sweet: straight to zero, do not pass go, do not collect TARP, due to the value burned by these companies by not being in bankruptcy already.”
http://www.zerohedge.com/article/objective-look-commercial-real-estate-korpacz-real-estate-investor-survey
BC (46)-
Won’t waste my Knob Creek on that bag of blood. Better to convene a death panel for her.
Shore 15 - Maybe dribs and drabs. We’ll see what happens when the fiscal year ends on 1/31.
36.Schumpeter says:
November 20, 2009 at 8:34 am
BC (31)- I’ve heard better pleas from drunkards in the subway.
strump: Nothing can top the #4 train pulling into Fulton Street; man enters that is dressed for the dead of winter in June; drops trow and announces “fcuk all you white people” and starts spinning like a top and urinating…
Rotger was “diagnosed with a contusion of the testicle,”
Read more: http://www.nypost.com/p/news/local/manhattan/co_op_snobs_not_our_porter_zzvsUZ0jWBKJpKtqfjVLEO#ixzz0XPNQhLNs
Here’s what I like to think, given that I still haven’t moved from my $400-$500k house into a new $800k+ house:
Upscale NJ home prices have held up better than most because a lot of these houses were bought 5-15 yrs ago at lower prices, and by people who have savings, some credit lines, and a slow default process to draw upon. Low mortage interest rates and the savings of early upgraders have facilitated the first trickle of home sales without putting big pressure on home prices. Next year, there will be more “must sells” as defaults work through the system, delayed response to job-loss and employers leaving NJ. Don’t know if mortgage rates will be up, but are unlikely to be lower, and thus won’t provide marginal additional support if supply is greater than demand. “pent up demand” (i.e. people sitting flush with cash) for such homes likely being mostly exhausted in 2009.
Dream or reality? What do you think?
My counter argument is that the wealthy are staying wealthy, have been actively supported by Treasury bailouts, and will increasingly cluster together for protection by self-selecting a few outposts like Short Hills, Basking Ridge, etc., a process that will keep the $1mn housing prices up.
“46 - BC Bob says: Gary [45], I think Schump should share some of that Knob Creek w/Ginny?”
Question: Is it too late to put Ginny in the dead pool?
#4 - For decades now, Mr. Cage has been the embodiment of over-the-edgeness.
Seriously? Bringing out the Dead & Leaving Las Vegas excepted we have, well; Ghost Rider, National Treasure, Gone is 60 Seconds, The Rock, etc. How pure is the coke out in Hollywood that they consider that edgy?
Why would you remake Bad Lietenant? It was fine as it was. If anyone should be playing the Lt. role in a remake it should be Josh Brolin.
All houses in upscale towns aren’t selling. I saw this one in Basking Ridge in the summer. Indian-owners, and nothing is quite the best, house or location wise. Doesn’t look enough like a McMansion to attract my wife, and it’s next to a road. OLP $999k, holding open house now at $829k
http://www.trulia.com/property/1079847771-1-Brookfield-Dr-Basking-Ridge-NJ-07920
45: Gary, she’s a beaut. I’m sure the builders are lining up for that sub-dividable parcel. Probably why it’s been on-and-off the market for at least a year. I believe the original ask was over $1MM. Good to see they’ve gotten some perspective. A similar ppty sold w/in the last six mos. @ $600k.
A. West.
I wonder why you are fixated on moving up into a certain price range as oposed to moving up into something with a more definite definition like min sq footage or min number of bedrooms, etc etc?
For example, what if the market crashes and your $900K dream move up house is only asking $400k in 3 years time? Will you still want to spend $900K at that time?
Also, what is your goal for this move up? Are you out growing your $500K cape or do you just need a bigger mortgage to park your massive amount of savings?
Gary #45: It DOES have nice floors, I’ll give it that. But close to $1MM? Insane. And here I thought I was the only one in PBC who still had harvest gold cooking appliances.
Is our only hope, print to to oblivion?
BC,
That’s seems to be the game plan since any other option is political suicide.
32. You had better get something that can hit a target at 200 yards.
Veto,
We’re looking at schools, square footage, location and lot. Right now we are a multi-generational family, and don’t have a basement to store things, so life would be easier with more space. My wife would also like to be able to invite guests to stay over when travelling in the area.
I only use price as shorthand for 4b+/4b+ with some land in a town with top 10 percentile schools, in the part of NJ that’s geographically attractive to me. Of course I’d like to spend as little as possible to get there, so $700k would be better than $1.1mn. But that will depend on the segment of the population with the income and/or willingness to borrow to compete with me for the incremental supply of such houses.
$900k to $1mn still doesn’t get me a dream home, btw. My dream home is somewhere south of here - bigger house and and land, half the price, 1/4 the annual tax bill. I’ll never be able to enjoy a home in NJ without the bitter taste of subsidizing the bloated government and cost base with exorbitant property taxes. In NJ, I’ll always feel like I’m just renting from the government, never outright owner. I won’t be able to buy that until we don’t need to work in NJ, and don’t have a kid in school.
Either that, or we’ll retire somewhere like Chengdu, China, where cost of living is low, the food is good and the maids are plentiful and inexpensive.
This is what NJ will look like when it all goes down.
http://www.youtube.com/watch?v=aOney2b41d4
While a Mossberg is great you must have the ability to put lead down range if needed.
Gary #45 - Maybe you should set your sights on a property outside of Bergen County. Even if you can afford a house, the taxes will kill you. Get yourself a promising, long-term job with lots of upward mobility. Then, spend your free time perusing the ML. Besides, do you really want to live the rest of your life on a 50′ x 100′ piece of land?
ByeByeAmerica, do you have any relation to a ‘DolphinBeater’?
Your posts are eerily similar especially when you go into the ’stupid american’ shtick
64. Cant say I do but I like his shtick because most Americans have the IQ of a bag of hammers.
Boy, was this guy before his time;
Ambrose Bierce (1842-1914), definition of an economy;
“purchasing the barrel of whiskey that you do not need for the price of the cow that you cannot afford.”
ByeBye, Were you born and raised American, and if so why are you so different?
http://www.maltzauctions.com/auction_detail.php?id=124385
I have this peace. It’s trully a masterpeace.
67.
Yes. What makes me different is my belief that you cant take from your country until you have given to it. Too many so called Americans want help that they dont deserve.
West, I would really appreciate living under the same roof as the in-laws or even my parent but my wife would never go for it. Its one of the American values that have been ingrained in her head that children must seperate and establish their independance by leaving their support system. I have those same perceptions of adults who live with their parents, but somehow see the benefits that come with it. would like to convince her otherwise but there are some tender nerves there. I hope this changes for American culture someday.
We started looking for a 3/2 in 2005. Since prices have come down, we are trying not to increase the amount of house we obtain. Instead, we intend to lower our purchase price while still focusing on the same modest 3/2 in strong school district.
http://graphics8.nytimes.com/images/2009/11/17/us/17thecaucus-obamabowing/blogSpan.jpg
Ugggg. This makes me sick. We don’t dip our flag passing before foreign leaders and our leader should not bow to anyone (the deepness of this bow is particularly sickening). I recall that Geo. HW Bush bowed to Hirihito’s casket, but that is different, as it is not a person and one often bows or kneels before the dead. To bow before another leader, especially at a time of American financial weakness, was a very bad move. What is next, the kowtow on his next trip to China?
Maybe the Chinese can spin a golden outfit for B.O. like the one Princess Leia wore at the feet of Jabba the Hut.
The man is proving to be worse than W. and I did not think it could be done.
Nom,
Had you seen that image before?
SAS 10
mobile gasification: what was old is new. Granted in a much higher tech form, but farmers used rudimentary gasification units to run some of their equipment during WWII in order to use cellulsic waste as fuel as opposed to oil needed for the war effort.
You can build one of these things in you garage out of scrap.
SAS
What is much more interesting to me is mobile Plasma Gasification units. Might be able to strike a sweet deal with the Italian mafia and their little garbage empire on that front.
71: Clear off the mantle for another Nobel. Were I the Prez, I would much rather have the respect of my country than that of the rest of the world. Doesn’t seem to be the case, or is the delusion that these actions brings both?
Mantel, not as in Mickey.
House panel votes to audit Fed balance sheet.
I don’t expect it to actually happen though.
Veto
Whats your proposed solution to the problem of all these so called ’stupid americans’? and the problems like Detroit?
The only soultion is that the general population take a real interest in the logistic and political functioning of their nation, not just party line votes wihtout even knowing the people of the issues at hand.
We spent the last 30+ years essentially on autopilot and have collectivly decided that hollywood liasons are more important then who is writing the nations laws.
There is only 1 solution. Anything besides the people stepping back up to the plate is a short term patch and only further embeds special interests in the political process.
If the average joe was politically engaged the corporate dominance of US governance would not be as much of an issue.
SAS,
You handle the Italian contacts/contracts and i will spec out the mobile plasma units.
We can then sell the vitrified aggregates through china as an industrial product while selling the surplus electricity to the italian grid with a “green” premium on it. Of course the “locals” get their cut too, and we are in business. YEEHAW!
SAS,
It will cost 3-5 million for start up incl. equipment
BC,
Good article:
http://hosted.ap.org/dynamic/stories/U/US_TWILIGHT_OF_THE_BIG_MAN?SITE=NHCON&SECTION=POLITICS&TEMPLATE=DEFAULT&CTIME=2009-11-12-11-03-23
74.
I am no fan of corporations. I am a fan of Main St. The problem is that the corporations now control our government. The government is suppossed to be the referee not the problem. Theres nothing wrong with corporations but when corporation govern the rules of the game that is a recipe for disaster. I think we agree here but we differ on the solution. You would have a corrupt corporate government redistribute wealth where I would mostly abolish the government and give the power to the people. Not Communism, nor anarchy, just unadulterated freedom and all the consequences and benefits that go along with it.
So…what if TPTB decide that one way to keep people buying Treasuries is to keep the world a little on edge, geo-politically. Just a thought.
John Dugan, the US Comptroller of Currency, was calling for noticable changes in mortgage underwriting standards. Namely;
- verification of income and assets
- meaningful downpayments
- banning neg-ams
- qualifiying ARM applicants at the higher adjusted rate
Fully text of his Tokyo speech is here.
Not sure if he’s speaking for himself or if this is indicative of future policy movements.
79.
Amen to that. America can start by turning off the tv. If we could get 50% of America to turn off the tv and either goto the library or use the internet for meaningful purposes I have no doubt that we could get this country back on track.
Ket, getting people tuned in is one step forward however, the blanket message to ‘rock the vote’ is faulty. Misinformed people with narrow-minded view points screaming at eachother passionately isnt going to fix this. (Not saying thats what you were proposing)
Just my opinion but a more open, unbiased discussion about the issues at hand and an objective analysis of the pros and cons to each decision is needed - without first deciding the answer and then spending the rest of the energies backing into its reasoning with no intention of considering the flip side.
People are quick to have an opinion but where is the genuine respect and open analysis for the complexity of any one issue?
The media gives less than 42 seconds for a politician to encapsulate the entire dilema of the US healthcare system. Are you kidding or what? And then CSPAN accomplishes the opposite in a little less than 8 hours.
And of course when someone does become enlightened, each opinion is ‘obviously the right decision’ with little regard for the challenge of deciding between two rights or two wrongs or aknowledging the side effects and down sides.
This is true for dems and repubs. thats why im neither.
Santelli off on a great rant about auditing the Fed.
The opponents are already framing it as an “independence” issue for the agency.
Audit the Fed, then end it!
87.
Its hard to have a meaningful discussion when there are Americans that have done nothing for their country believe that healthcare is a right.
Otherwise, I agree with your premise.
This bill in the Senate right now will fiscally ruin the country. That may be a better starting point for debate.
I think i have the next move for the markets figured out…
the stock markets tank, wiping out the phony equity value… while the commodity markets hold firm.
A handy list of those who voted against the Fed transpanrency bill;
NAY - Rep. Barney Frank, MA
NAY - Rep. Paul E. Kanjorski, PA
NAY - Rep. Maxine Waters, CA
NAY - Rep. Carolyn B. Maloney, NY
NAY - Rep. Luis V. Gutierrez, IL
NAY - Rep. Nydia M. Velázquez, NY
NAY - Rep. Melvin L. Watt, NC
NAY - Rep. Gary L. Ackerman, NY
NAY - Rep. Gregory W. Meeks, NY
NAY - Rep. Dennis Moore, KS
NAY - Rep. Michael E. Capuano, MA
NAY - Rep. Carolyn McCarthy, NY
NAY - Rep. Joe Baca, CA
NAY - Rep. Stephen F. Lynch, MA
NAY - Rep. Brad Miller, NC
NAY - Rep. Al Green, TX
NAY - Rep. Emanuel Cleaver, MO
NAY - Rep. Melissa L. Bean, IL
NAY - Rep. Gwen Moore, WI
NAY - Rep. Keith Ellison, MN
NAY - Rep. Ron Klein, FL
NAY - Rep. Charles Wilson, OH
NAY - Rep. Joe Donnelly, IN
NAY - Rep. Bill Foster, IL
NAY - Rep. Andre Carson, IN
NAY - Rep. Mary Jo Kilroy, OH
NAY - Rep. Jim Himes, CT
I’m really surprised Waters voted against this. Proof you just can’t trust the crazy.
albani: Can you translate this? Google did a good job with most of it, but this part kind of didn’t make any sense to me.
Me besimin e madh tek Zoti dhe me punen emadhe qe eshte bere deri tani duke ndihmuar njeri tjetrin tebashkuar besoj shume qe do te perballojme pengesat dhe veshtiresite qe mund te dalin gjate rruges per te realizuar objektivat e familjes xxxxx per te plotesuar dhe deshiren e Baba Lutit si nje njeri i respektuar shume ne qytetin e Durresit. shprejsoj shume qe dita te jete sa me eafert per te perqafuar pjesen tjeter te familjes qe ndodhet ne Amerike
“We differ on the solution. You would have a corrupt corporate government redistribute wealth where I would mostly abolish the government and give the power to the people.”
Bye Bye, our solutions prob dont differ much.
Your reponses are a pleasant surprise and #86 and #89 has convinced me that you are not the obnoxious a-hole that you attempt to portray yourself as but probably a thoughtful individual with a more balanced opinion than i originally could have imagined who chooses to establish his political diferences with shocking and entertaining aggression.
Got to admit the ‘bucket o chicken - check, liter of soda - check’ routine had me in stitches. Please keep that going whenever possible.
Veto 87
Thats why we need actual engagement. Engagement presupposes that the engaged individuals have looked at the issues at hand and come to their individual conclusions through logic/reason based processes/analysis (Yes i know its a pipe dream)
I am not suggesting everyone has to have an IQ of 150. Just that the people involved actually look at the info and form their own conclusions. This is unlikely to happen for any number of reasons.
My vote is that we are already late into the Roman empire. Find a good seat and watch the empire burn.
In a related note, consider that Tiberius (Tiberius Claudius Nero) the second roman emperor after Gaius Julius Caesar Augustus. Didnt really want to be emperor and tried to get the roman senate to take the reins of power. Tiberius is recorded to have described the senate as “men fit to be slaves.”
The parallels to modern day can be striking. Even if we had a president who wanted to “right the ship” what chance is there that he could get the congress and senate to go along with him? we have the same problem that Tiberius had. the senate as “men fit to be slaves.”
Tiberius was considered by many to be a failure yet left the roman empire in better financial condition then when he received power and stopped engaging in the almost constant military expeditions of his predecessors. He was considered a failure partially for these very acts.
Would not a modern day politician be considered a failure if they suddenly forced financial austerity and withdrew from the global military expeditions we seem to be constantly engaging in?
They would be run out of office and the political arena for causing pain and suffering throughout the US economic empire, while in reality they would be helping everyone ( except for the economic leaches)
Obama better bow to our Asian masters. If he doesn’t, say goodbye to your homes, your jobs, your livelihood, etc. Who do you think is ultimately paying for our high standards of living?
We buy their cheap sh1t and they buy our cheap debt.
Forget the bow, Obama should probably unzip the premier’s fly when he’s down there and get to work on it in the name of America’s survival!
Shore @10:46 am, on YouTube there’s a video of leaders who have met Japan’s emperor over the last 10 years, not one bowed.
“46 Handshakes, 1 Bow”
http://www.youtube.com/?v=63EgKrQXU7M
BC,
You have been a big E-Street Band fan for a long time. Maybe you know the answer to this question.
At a few concerts, I have noticed teleprompters feeding Bruce and the band lyrics, and once it looked like chords. Do you know when they started with this?
soulseeker [63]
With all due respect, please save the sanctimonious advice for someone else.
They may want to re-think their approach, I seem to recall the same thing happening last year.
http://online.wsj.com/article/SB125867759869456673.html
Qwerty,
I am all for repairing damage caused by the last guy BUT, the leader of the first nation to throw off the authority of a king should NEVER bow to one, or any other leader for that matter. Even if he had chosen to bow instead of shake haands, it should habe been a 2-3 degree bend at the waist, not the “I am here to pick up your dirty plates: Sir” bow that B.O. performed.
I am not yet pepared for being a second-rate power, but it seems like B.O. is. It is sad.
93.
Just planting fires in the minds of my fellow Americans. My personal likeability doesnt matter at this point.
Ref 66: BC, Quoting Ambrose Briece has won you a free adult beverge of your choice if I am ever back in NJ during a GTG. Heading to Venice oover Trukey Day weekend. Plan to meet a friend into Italian RE to ask about possibilities of settling there. Aside from that problem they have with the streets being flooded, it might not be a bad place to wait out the global crash.
DL,
sinking RE, Sinking City, whats the difference? Both end up underwater.
I think sometime back when he turned 80. There is also a cattle prod they use to get him out for encores.
Shore Guy says:
November 20, 2009 at 11:48 am
BC,
You have been a big E-Street Band fan for a long time. Maybe you know the answer to this question.
At a few concerts, I have noticed teleprompters feeding Bruce and the band lyrics, and once it looked like chords. Do you know when they started with this?
SAS
old tractor wise wood gas generator for fuel
http://www.knowledgepublications.com/hydrogen/images/Hydrogen_Gen_Gas_field_test.gif
SAS
old tractor with wood gas generator for fuel
http://www.knowledgepublications.com/hydrogen/images/Hydrogen_Gen_Gas_field_test.gif
Bye Bye, what about the 40 mn uninsured?
is there a better, cheaper solution?
or just f em?
Kettle1 - your pic is from the FEMA manual for an emergency gasifier made from easily improvised materials, including a galvanized trash can, standard plumbing fittings, and a salad bowl.
Pretty interesting stuff, too bad the BTUs are very low, and you would have to tow around a trailer full of wood chips to go long distances.
Here is the FEMA manual.
http://www.mistymanormercers.com/ReferenceMaterials/fema.woodgas.pdf
Sean,
AN even older example
http://upload.wikimedia.org/wikipedia/commons/7/77/Epa_tractor_with_wood_gasifier.jpg
these first started popping up using an otto in the early 1900’s
Kettle1 -
1lb wood = 3,500 Btu
1 Gal Gasoline = 125,000 Btu
No contest, it might work shorterm in an emergency but you would need to cut down every tree on the planet to replace the gasoline used today.
Sean,
I am not suggesting we try to use wood gas as a primary fuel. I was responding to SAS’s comment in which the application appears to be using a modern wood gas generator system to turn a waste stream into an asset. In some cases it makes sense, but not as a general application.
Only listings I’m getting from our PA agent are crap boxes that have been on the market 100 days plus. I wouldn’t be interested in them at any price. But I’ve noticed dozens of foreclosures. Is it time to ask her about foreclosures?
107.
Regarding 40 million uninsured.
I debate the number but for argument sake lets say its right.
Illegal aliens will be denied all benefits. We cannot afford a welfare state for our own citizens so lets
not create a welfare state for the world. All injured and sick are already treated via the ER despite insurance status. This is the reason our healthcare is so costly. 3k to diagnose pregancy is not economical but when someone comes into the ER and says “no hablo ingles!” then they must be treated. The clinician knows they are pregnant but cant rule out ectopic and dont want to get sued so there you go. The illegal alien walks out with an ultrasound of their 20 week old baby on the taxpayers backs.
Healthcare is a commodity to be consumed. It isnt a right. The precedence has already been set with Medicare and Medicaid and that is the problem. First off and easily implemented. Allow people to buy insurance over state lines. Most people should be covered for catastrophic with a high deductible. Lets say 5k deductible. Coughs and sneezes will be paid out of pocket. You could even buy a separate preventive medicine package. The point is let the people decide what they need and stop offering freebies on the taxpayers back.
This is step one. Implement it now and measure results. If unsatisfactory we make more changes.
#22 gary Did you ask her why??
re: turn a waste stream into an asset.
You won’t find Al Gore pitching this one as a as a solution to global warming.
Human waste when totally dry has about 4000-7000 Btu/lb, which is equivalent in heat to lignite coal–also, appropriately, called “brown coal.”
We could easily dry out all the human and animal waste in “green” factories using the sun and then ship it to power plants on rail cars to be burned or gasified.
Could be a real growth industry if we run out of oil.
Sean 115
The problem with that is unintended consequences. By combusting those waste materials on a large scale its very possible you could end up interrupting normal nutrient cycles that return critical nutrients back to the various ecosystems.
We may call it waste, but the natural decay cycles close the loop on nutrient flows.
AN easy example is fruit. Modern fruit generally has substantially less nutrients in it on a per unit mass basis as the production methods become more intense. Its a complex issue but must be addressed before trying to take such plans large scale.
Bye-Bye to build on that
make all health care costs tax deductable, plus subsidized catastrophic and preexisting condition plans for those who wish not have overall healthcare. Tort reform for malpractice. Which will cut down on the amount of tests done when a patient comes into the ER or doctor’s office. Batteries of tests only add to the hospitals bottom line and act as a CYA for docs. When I had my appendix out they gave me CT scan. Even though it had been diagnosed by a separate physician, I was presenting with every text book symptom except the caterwalling and moaning of the usual hospital drama queens. Uneccessary tests drive up costs.
Had I gone to medical school as originally planned I can’t say I wouldn’t do the same. Who wants to spend their days in court defending frivolous lawsuits when trying to help people.
#113
Who the heck do you think you are trying to take power away from the politicians and give to the people?
Obama/Frank/Pelosi/Murtha/Reid/Hillary are in charge and they will take care of you and shut up and watch American Idol or The Biggest Loser!
And no talk radio listening until the Fairness Doctrine is passed!!!
Sean,
globals warming is easy. Reduce the human population to pre-1960’s levels.
We only need to somehow remove about 4 billion people from the planet. That could make for a heck of a space colonization project. or a whole lot of dried organic matter to combust for fuel.
Soylent green?
pain,
SOYLENT GREEN! The great new cattle feed additive guaranteed to increase the rate of weight gain and and health of your feedlot herd or your money back!
Now thats recycling!
#115
Hi this is Billy Mays, your wasting money and heat every time you flush.
Buy my new home poop dry system and save money and the environment and keep the family warm…
It’s a great family activity, and the money you save will help put the kids through school…
[100] shore
FWIW, I have changed my view somewhat on the whole bowing thing.
To the extent that it is about protocol and not intended as an expression of policy (or symbolic of the same), I don’t have a problem with the fact he bows to foreign leaders. These are meetings of putative equals, and if protocol demands certain customs, so be it. If the PM of Japan bows to Obama at the WH, do we titter at his obvious abasement? No, we accept the fact that he is visiting another sovereign nation and paying his respects to its leader, and frankly, we expect no less.
I prefer to focus on the substance. It isn’t the bowing that abases him and us; it is whatever concessions and apologia happen to go along with it. I think many fear that Obama’s bowing is an expression of US policy; It may be but I will wait on the actual policy. A bow without concessions or apologies is merely polite.
Further, as a conservative, I would want our leaders to expect other nations to respect our sovereignty. But it is only right that we do the same. I think that expressions of respect for sovereignty are consistent with that view.
And to the extent I expressed dissimilar opinions on bowing in the past, those are retracted.
/back to work now.
W can kiss a Saudi King and Obama is criticized for bowing to a leader considered a major ally. Qwerty, you are truly a waste of biological matter. I’m not surprised I didn’t hear of this non-story that occurred on Monday. Must be that State Media again. Now where’s the mention of Acorn we are all waiting for. What? Fox news hasn’t yet spoon fed it you yet? Think for yourself for a change! Of course, if that is at all possible.
Since Billy Mays is dead can’t we just eat him.
Middle East, China, Korea, India, Russia and Africa really serve no purpose.
kettle1 says:
November 20, 2009 at 12:53 pm
Sean,
globals warming is easy. Reduce the human population to pre-1960’s levels.
We only need to somehow remove about 4 billion people from the planet. That could make for a heck of a space colonization project. or a whole lot of dried organic matter to combust for fuel.
120 kettle:
“We only need to somehow remove about 4 billion people from the planet.”
Well, Obambi is planning Death Panels..
But if we get rid of China, where do I buy my TV from?
http://www.associatedcontent.com/article/357810/global_warming_and_the_mortgage_interest.html
Housing, global warming and the mortgage interest deduction article
[117] pain
Do you recall about 15 years ago or so, Congress passed a cat-health benefit?
I thought it was a great idea. But seniors went nuts. If you think the town halls were a new development, google Rostenkowski and read how he got treated for his vote.
So Congress went back and un-passed the cat-health coverage. To this day, I still can’t figure who stood to lose and riled up the seniors.
(okay, really got to get back to work)
Jamil,
Those panels will be busy. As john pointed out, you would have to wipeout the better part of asia. or the rest of the world except for Asia to reach such a goal.
Comrade “FWIW, I have changed my view somewhat on the whole bowing thing.”
I’m so happy that we have now a smart leader who knows all those diplomatic niceties and protocols better than some cowboy from Texas. Say, sending out US-only DVDs to the Prime Minister of Britain, or CDs about Barack Obama speeches to the Queen of England, bowing to Saudi king - they are all just those things that citizens of the world know.
Seriously, somebody at State Dept Protocol department should be fired. What the heck these 500 people do? I mean, besides, making sure “Reset” is translated incorrectly to russian.
Well they do use dung fired stoves in the developing world.
If you keep enough livestock there are some great waste solution systems which build out a methane recycling system to supply power to your farm and gas for heating/cooking.
Soylent green tastes great and now with less kuru causing spongiforms
Don’t worry I was think Neutron Bomb just to kill population. Phase two would be to deport every unemployed, homeless, criminal, mentally insane, illegal immigrant and anyone on wefare or social security to the China, Russia or India to man the empty factories and call centers. I would also deport every employee at a prision, nursing home, unemployment office, welfare office, INS, mental insitution as we would no longer need them here. Darwinism will take over in the new land and will weed out the weak, old and ill. After 100 years I would re-allow immigration back to USA.
Also I would send all the Mexicans and Cubans to Siberia. There just a pain in the butt anyhow.
danzud says:
November 20, 2009 at 1:03 pm
But if we get rid of China, where do I buy my TV from?
Ok I changed mind, every hot women under 30 in Asia and Russia can stay. Siberia can be awful cold and you need something to keep you warm beside vodka.
Stu,
Unless tongues are used, kissing is fine. Even equal bows are okay. My problem is that the akihito (sp?) did not bow, or if he did he bent ever so slightly, wheras B.O. was nearly bent 90 degrees at the hip; it was the bow of a suppplicant, and it was wrong to do.
As for protocol, we routinley ignore it with our national symbols. Take the flag for instance, we do NOT fly it below that of other nations when our ships enter their waters. Heck, even our Olympic teams know enough NOT to bow the flag before foreign leaders (as every other nation does). I for one have no issue with the Japanese prime minister NOT bowing when meeting the POTUS. But, I sure as heck do not want to ever see POTUS bow or curtsey (in the future) to any foreign leader. When that happens on a regular basis, we will be the newest France.
A gaggle of my ancestors fought as officers in Washington’s army; they tossed out a monarch and I will not accept our leader accepting an inferior position to any other leader — equal, fine, just not inferior.
Senate nationalized health care bill includes a tax increase for couples who make combined $250k. That’s $125k income for both spouses so they are “rich” and hence enemies of the state.
Add this to the list of tax increases that were not supposed to happen..
Actually look close it phases out the mortgage interest deduction for those making over 250K.
vodka (94)-
My vote is for me, as Attila the Hun.
Burn, bitch, burn!
“My vote is that we are already late into the Roman empire. Find a good seat and watch the empire burn.”
#140 - …we are already late into the Roman empire
Lord knows we could use some vomitoriums.
John (135)-
I like it…a sort of equivalent to an instant eugenics program.
It is quite amazing watching the former most powerful nation on the planet get sicker and closer to death every single day.
#137 Amen. I wonder what the World War II vets thought of that.
Bank Failure Friday? How about Nation Failure Friday?
BC, I’m battening down the hatches. Something bad is brewing. Could this be the trigger?
“Are the dominoes about to start falling? From Morgan Stanley’s London desk:
Ukrainian Railway defaulted on a Barclays bond. They have another, government guaranteed obligation with DB. If DB accelerates the payment & IF it is then not paid, it will count as a government default.
We are closely following the releases out of S&P and Moody’s analysts to see if they have gotten into the office after their leisurely 0rgy at the nearest Turkish bath insider info leak session. Potentially nothing actionable just yet, but that a government-backed bond can’t make its payments, should prompt the IMF apparatchiks to promptly take the next Textron Cessna straight into Kiev (after they get 20 Goldman flu shots each) and spend a few more billions in US taxpayer money and/or sell more gold to quickly stuff even more corpses under the carpet.”
http://www.zerohedge.com/article/potential-ukrainian-default-spooking-markets
143.Clotpoll says:
November 20, 2009 at 1:30 pm
It is quite amazing watching the former most powerful nation on the planet get sicker and closer to death every single day.
Imagine how the Fat Cats in Congress, Wall Street & Hollywood will cry, when 2012 rolls around. Oprah probably knows, as she’s bailng out in 2011.
1 out of 7 NJ mortgages in trouble….
So now is the time to buy a home, when everyone else is selling.
Buy a home now before prices go up.
Oprah better keep on taping, cause if the soda tax comes to fruition, she’s gonna be paying a whole lot!
Clot thanks you owe my employer a keyboard. Nation Failure Friday, the new comedy standard.
Norway detects a mutation in H1N1 but says it is not circulating in the population.
http://online.wsj.com/article/SB125873506353457595.html
Meanwhile, does anyone have any good info on “mutant flu” in Ukraine? I’ve read some scary stuff but don’t quite trust the sources.
BOWGATE!
Well, we already had Blowgate, why not Bowgate.
Oprah’s announcement sounds a lot like a Who Final Tour. I’ve been to three of those.
I have never seen her show, and don’t anticipate seeing it before she hits the highway.
I haven’t watched her since the early 90s but catch snippets of the usual stuff on the news/comedy shows. She’s made this announcement before and changed her mind, 4 years ago I believe. I’m not a big fan, but you could do far worse than Oprah. Actually, her fans are scary.
confused (146)-
Nothing left to do but try to make a buck off the collapse and get the hell out of here before the wheels come off completely.
Has anyone seen the photos of Cockermouth and the rest of Cumbria? It is a vision of what much of coastal NJ could look like with a small sealevel rise and a decent storm. Heck, Keansburg looks a lot like this now with a decent storm.
Barb (155)-
No use for that fat pig. I wouldn’t be surprised to find out that she’s a bot, being used by the gubmint to mollify the fat, neurotic sheeple who have nothing better to do in the afternoon than stare at the TV and hope for inspiration.
I would, however, pay good money for a PPV of Oprah getting it every which way (if you catch my drift).
That would be hilarious.
Actually, Oprah belongs in the ninth circle of hell for introducing Dr. Phil to the world.
clot,
that was always my issue with her, she’s smart, has come far and has a good read on people, however she presents Life to her audience as an endless struggle against adversity of all kinds and happy ending MUST be sought after or life has no meaning. Reality, 90% of Life is keeping your head down.
eh, countdown to John jumping on that happy ending part of my post. 5…4….3…
Barb (160)-
True dat. Break on through to the other side.
Sean says:
November 20, 2009 at 12:34 pm
1lb wood = 3,500 Btu
1 Gal Gasoline = 125,000 Btu
Um, It think you might have missed something in this comparison. 1 Gal Gasoline weighs about 7 lbs. So an equal comparison between gasoline and wood would be something like this
7 lb wood = 24,500 Btu
1 Gal Gasoline = 125,000 Btu
Still not exceeding but comming closer to matching. I don’t necessarily think that even with the above correction that you accurately show the real differences in energy density which I believe that you wanted to show.
On the whole I get the point. Nothing matches the energy density of fossil fuels other than nuclear fuels.
In order for a real driving force away from using fossil fuels there needs to be a breakthrough in energy storage as to come close to replicating what we currently have.
John’s own worst enemy has come to town.
Clot,
This will not end quickly, it will not pleasant, you will not have fun. You will be cold, hungry abused, and ignored.
You will watch your children struggle to clean up the mess made by their parents and the preceding “Greatest” generation. Their lives will be poorer, more dangerous, and not anywhere near as privileged as us and our contemporaries have experienced.
Your grandchildren will probably curse you as they finally start to pull their world back together.
Welcome to the party
vodka (165)-
If my grandkids are raised in Chile, they won’t hate me, since they will be in a place that won’t fall nearly as much over the next 20 years as the freaking train wreck we now call home.
Nicholas,
Nuclear reactors with humans as the moderator?
solves the population problem while spurring nuclear development!
This is not because Ukraine bombed out of the World Cup:
http://www.zerohedge.com/sites/default/files/images/user5/Ukraine%201.jpg
interesting historical question:
as the roman empire decayed, were you better off in proximity to rome or in out lying provinces such as germania?
vodka (169)-
Tough comparison. Have to think that back in those days, having enough teeth to be able to chew and not having to piss in the street constituted “well off”.
The 25 Laziest Cities In America
clot 170
same $hit different millennium
#169 - Historically speaking, you would have been best off in Constantinople.
IIRC, Constantinople was the actual capital at the time and not Rome.
So, an outlying province that was not in Eurpoe would have been best.
Revolution among the ranks or a storm in a teacup? Has it suddenly dawned on shareholders that bankers are picking their pockets too?:
Goldman Holders Miffed at Bonuses
Some Investors in the Stock Urge ThatMore of the Riches Be Passed Along to Them
http://online.wsj.com/article/SB10001424052748704533904574545981008841004.html?mod=WSJ_hpp_LEFTWhatsNewsCollection
Some of the largest shareholders in Goldman Sachs Group Inc. have urged the Wall Street firm to reduce the size of its bonus pool, arguing that it should pass along more of its blockbuster earnings to investors, according to people familiar with the situation.
The investors hold tens of millions of shares in Goldman Sach
re #163 - I may be wrong about energy density, seems woodgas has more BTUs per cubit foot.
“Driving solely on woodgas costs a vehicle 30 percent of its acceleration”
http://www.journalstar.com/news/local/article_7b397caa-6520-548e-935d-dcb311704e5c.html
1 standard cubic foot of gas should be the measurement.
Reminds me of difference between the two greatest male swimers ever, one spitz and one swallows.
Barbara says:
November 20, 2009 at 2:12 pm
eh, countdown to John jumping on that happy ending part of my post. 5…4….3…
Meredith Whitney Says Bank Stocks Are ‘Grossly’ Overvalued
http://www.bloomberg.com/apps/news?pid=20601087&sid=acyezZUH_MYo&pos=4
The Federal Reserve has begun slowing purchases in the $5 trillion market for so-called agency mortgage-backed securities after announcing in September that it would extend the timeline for its $1.25 trillion program to March 31 from year-end. Whitney said that banks are only originating home loans that they can sell to Fannie Mae and Freddie Mac.
“If Fannie and Freddie can’t sell to an end buyer, i.e. the U.S. government steps back, the mortgage market at minimum contracts, rates go higher, and banks are poised with more writedowns,” said Whitney, founder of Meredith Whitney Advisory Group. “This is probably the issue that scares me most across the board.”
Whitney said she doesn’t expect consumer and small business spending to rebound and she forecast $2.7 trillion in credit lines being cut. She said she expects this year’s holiday season to be at best “flat” versus last year.
I sent this post by email to a bunch of people. Hope that helps.
Looks like the UK is starting to break up its banks:
http://www.bankingtimes.co.uk/19112009-eu-formally-approves-plans-to-break-up-lloyds/
A.K.A. Meredith Whitney has a huge short position in place against the market, and unless the levels back off significantly, she will be taking it hard in the poop chute now that that she working on her own and doesn’t have a deep pocketed employer backing up her hubris…..jumped the shark….
lisoosh says:
November 20, 2009 at 2:47 pm
Meredith Whitney Says Bank Stocks Are ‘Grossly’ Overvalued
Going forward, can we all please refer to Kettle1 as Norm?
Stu - I was thinking Cliff Clavin.
I’m sorry, but the slide for Camden among the 25th laziest cities in the US, is not representative of it’s inhabitants.
http://www.businessinsider.com/the-25-laziest-cities-in-america-2009-11#no-20-camden-nj-6
Sean,
Sh1t, that’s what I meant. Damn am I senile. Fellow bloggers, please do the next GTG in the Alzheimer’s ward at St. Barnabas as that is most likely where I’ll be.
You are a fan of Pete Townsend and call Depeche Mode arrogant DBs? Maybe DM was fcuked up druggies, but they aren’t into child p0rn.
Barbara says:
November 20, 2009 at 1:55 pm
Oprah’s announcement sounds a lot like a Who Final Tour. I’ve been to three of those.
Stu, I didn’t even bring up the bowing topic, Shore did.
Secondly, get into your $500 high school Civic and drive yourself into a lake…
STu, 181
perhaps i am a little slow today but whats the Norm reference?
#16
“Anyone have a guess as to how much more economic support our government can afford? It cannot go on indefinitely.”
it will go on for years and years
171, SG
I noticed in the photographic slideshow for Laziest cities in America, there were very very few minorities presented as being fat and/or lazy. In fact, there were very few overweight people portrayed. It’s PC taboo and forbidden to suggest that there may be a racial skew in the don’t excercise & watch tv during weekdays & are overweight classification. So they mostly show photos of 22 year old white guys laying around, though my guess is that’s not who is pushing these cities to win “laziest city”.
I wouldn’t really care how other people live their lives, except that now the government is collecting my money to finance that lazy lifestyle. Except when a double-wide person gets in front of me on the sidewalk, and moves in slow motion, and there’s no way around them. More KFC for them, more taxes for me.
Stu, sean,
gotcha.
toshiro_mifune says:
November 20, 2009 at 2:29 pm
#169 - Historically speaking, you would have been best off in Constantinople.
IIRC, Constantinople was the actual capital at the time and not Rome.
So, an outlying province that was not in Eurpoe would have been best.
http://www.youtube.com/watch?v=Mv-KcF3Rkv8&feature=PlayList&p=F4E7F216C4ECA35C&index=11
Kettle1,
I am the slow one. I meant Cliff from Cheers.
Qwerty,
My Civic has a book value of $900 and illegal immigrants frequently offer me $3,000 for it on the spot. Does that piss you off?
Hey Kettle,
FerFAL is out and at it again, this time picked up by Clusterstock
http://www.businessinsider.com/henry-blodget-how-to-survive-the-coming-global-economic-collapse-2009-11
JJ: what was your basis?
http://www.bloomberg.com/apps/news?pid=20601103&sid=aEiNXqFxG2lM
re: #183- Stu speaking of Fat People.
This one is Clot’s Dream come true.
LIMA, Peru (AP) — A gang in the remote Peruvian jungle has been killing people for their fat, the police said Thursday, accusing the gang’s members of draining fat from bodies and selling it on the black market for use in cosmetics.
http://www.nytimes.com/2009/11/20/world/americas/20peru.html?ref=americas
Danzud,
I can tell you are a Mexican trying to leach off of America. To you I say this. Over my dead body.
Danzud, I would find enjoyment watching your body rot and be eaten by rats and dogs then to give you anything free you communist mother f#cker.
#139
“Actually look close it phases out the mortgage interest deduction for those making over 250K.”
WTF? I guess it is best to lay low for the time being since we don’t know what kind of tax monstronsity is coming
ByeBye,
If illegals are here illegally, shouldnt they just be deported back to the nation they legally belong?
Also, I like the high deductable idea alot.
[138,9] jamil and john
Spouses that are legally separated can each file as single, and be taxed accordingly, thus avoiding some of the surtaxes and phaseouts. The payroll tax increase is hardly worth it, but a lot of the other phaseouts and tax hikes we are seeing now just may make it worthwhile.
Worth trying it out on Turbotax just to see if it works, taxwise. Trick is, under IRS guidance, you really do have to be separated, meaning that you both can’t use the same address.
Don’t know how long during year you have to be separated (theoretically, you might be able to file single if you get separated on 12/30, but there may be regs or interps on that). Paradoxically, you can be divorced yet continue to live together and still file as single—IRS says its o.k.
“Honey, I’m moving back in with Mom for most of 2010″
IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.
Stu, 183
I wasn’t familiar with Camden, haven’t spent much time there. Apparently you’re right, that wasn’t a very representative photo. At Camden High School, which Greatschools rates a 1 out of 10, the student population is 68% black, 31% hispanic. Despite smaller than average class sizes, and greater than average spending per pupil ($21k), only 26% are literate in language arts, 13% are math literate.
So they’re not just lazy in Camden, they’re really quite stupid. But I’m sure it’s a fun and diverse community full of love, creativity, and the deep and spiritual wisdom that book learning just cannot provide.
NJReReport.
2007:
Granite Counter Tops, Stainless steel appliances, property tax, and easy money.
2009
Guns, 200 yards, Revolution, Shoulder Fired, Nuclear Reactor, Wine, Anti personell mines, compounds, and tactical defense.
#195 - The world comes one step closer to Fight Club.
[189] A.West
“I noticed in the photographic slideshow for Laziest cities in America, there were very very few minorities presented as being fat and/or lazy.”
Don’t know if that is intentional or not (they named mostly white areas, I think), but there is a standard of sorts (more like a gentleman’s agreement) concerning airing racial information in newscasts—unless it is germane to the story, the news outlet won’t mention race.
Conversely, HUD, DoJ, and bank regulators will use advertising as evidence of discrimination under ECOA, and there are standards for advertising in home sales and lending that require certain amounts of minority presentations (meaning that there has to be at least one black couple in an ad for every X number of white couples—essentially a quota). So if you ever noticed that minorities are more prominent in bank advertising than in, say, car advertising, now you know why.
201.
Hence my IQ and a bag of hammers argument. You cant cure stupid with money.
[203] tosh
a.k.a. the next GTG
#202 - 2009
Guns, 200 yards, Revolution
Actually guns and revolution have been a regular topic since the very beginning.
Along with kibble and greedy grubbers….
[202] bye
To be fair, Clot is responsible for the mines and shoulder launched weapons.
Not to mention the road kill cafe menu.
208 lmao.
I love Comrades nompund talk. Its the reason I visit these forums. The thought of a civilian owning antipersonell mines sends chivers up my leg. It smells like freedom.
chifi
“You are a fan of Pete Townsend and call Depeche Mode arrogant DBs? Maybe DM was fcuked up druggies, but they aren’t into child p0rn.”
the last Who, Final Tour I went to was pre-kiddie p@rn on internet scandal, In my defense ;)
#209 Are you a member of a militia?
I remember as a student in center city Philadelphia there was a motorcycle rally. There were thousand of Harley’s screaming through the city. I was trying to study and the noise was deafening. I looked outside my apartment and thought I should call the police. Then I remembered thats what freedom sounds like.
ByeBye you dont anti-personnel mines there are plenty of great booby trap solutions with out the use of a pressure switch.
Somedays I wish the Anarchists cookbook was still in publication. Had a geat bannana peal recipe. ;) plus step by step instructions on how to turna 12 gauge into a mortar.
Oh hi homeland security the previous email was meant for nostalgic purposes only. I will continue upon my useless endeavors which will not threaten myself or persons within the american populace, but the whitetail deer shall continue to be harvested for its chili potential
185: How are you certain what DM (always initially think this refers to Dave Matthews) is or isn’t into?
chicagofinance says:
November 20, 2009 at 2:59 pm
“A.K.A. Meredith Whitney has a huge short position in place against the market, and unless the levels back off significantly, she will be taking it hard in the poop chute now that that she working on her own and doesn’t have a deep pocketed employer backing up her hubris…..jumped the shark….”
Chi - I’m sure she does have a pretty big dog in this fight That in itself doesn’t make her either right or wrong, just indicates she believes what she is saying.
Name me a commentator who doesn’t have something to lose somewhere.
#212 - Then I remembered thats what freedom sounds like
Is it that kinda high pitched ringing I get in my ears every so often, `cause that would explain a lot.
-or-
Is it anything like Animal Collective’s last album?
213.
Dont worry about DHS. They are up to their eyeballs. Trust me. Those that talk trash are the least of their worries.
Various 3 letter agencies must make up half the web traffic on this blog given the number of keywords and phrases tossed about here. I wonder how of us they HAVENT profiled yet.
Bye Bye,
The problem here is that we have been breeding stupid for the last few decades and you cant fix stupid
#218 So let’s get back to RE! Let’s see, prices are too high, McMansions are in the cr@pper, the economy will implode at any moment. Okay, that was fun. Now, what do gerbils taste like? And would one serve a merlot or a nice chardonnay with them?
Tosh,
Seniors switching to alpo or friskies could actually increase health care costs given the negative impact of melamine on human and animal health.
I see a business opportunity; american made pet food “certified melamine free”
How about Purina Boomer Chow?
Purina Silver
why would a senior need to buy friskies when spam costs the same? oh wait, same difference.
Friskies Platinum:
Delicious compressed fishmeal in a savory sauce with 100% of daily vitamins and minerals (For animal consumption only)
What is this crap? I am engaged and was even more engaged before real estate terrorists ruined me. Now you want to write some long winding diatribe about the waning days of the damn Roman Empire being an analogy for our great nation. That’s a bunch of bullspit.
The Roman Empire never had tax cuts and that was their damn problem.
Tax cuts will get our country back on track.
94.kettle1 says:
November 20, 2009 at 11:45 am
Veto 87
Thats why we need actual engagement. Engagement presupposes that the engaged individuals have looked at the issues at hand and come to their individual conclusions through logic/reason based processes/analysis (Yes i know its a pipe dream)
I am not suggesting everyone has to have an IQ of 150. Just that the people involved actually look at the info and form their own conclusions. This is unlikely to happen for any number of reasons.
My vote is that we are already late into the Roman empire. Find a good seat and watch the empire burn.
In a related note, consider that Tiberius (Tiberius Claudius Nero) the second roman emperor after Gaius Julius Caesar Augustus. Didnt really want to be emperor and tried to get the roman senate to take the reins of power. Tiberius is recorded to have described the senate as “men fit to be slaves.”
The parallels to modern day can be striking. Even if we had a president who wanted to “right the ship” what chance is there that he could get the congress and senate to go along with him? we have the same problem that Tiberius had. the senate as “men fit to be slaves.”
Tiberius was considered by many to be a failure yet left the roman empire in better financial condition then when he received power and stopped engaging in the almost constant military expeditions of his predecessors. He was considered a failure partially for these very acts.
Would not a modern day politician be considered a failure if they suddenly forced financial austerity and withdrew from the global military expeditions we seem to be constantly engaging in?
They would be run out of office and the political arena for causing pain and suffering throughout the US economic empire, while in reality they would be helping everyone ( except for the economic leaches)
219.
I here ya brother. Its going to change though. This is just he beginning. The current course will not be tolerated. You are living the 2nd American revolution in its earliest stages. This is a revolution of ideas and information not guns and ammo. I know the authorities are nervous and they will ultimately side with the winning side.
Barb,
they dont sell 50lb bags of dried SPAM at costco for pennies per pound like they do Alpo.
The cost conscious senior will do better buying bulk pet food at costco/sams/etc
Bullspit. We don’t have any problem that a tax cut won’t solve.
We need tax cuts!
143.Clotpoll says:
November 20, 2009 at 1:30 pm
It is quite amazing watching the former most powerful nation on the planet get sicker and closer to death every single day
RE101,
you make my day. always nice to end on a laugh!
kettle,
I think the whole old person/dog food thing is an urban myth. Yep.
Has anyone seen the photos of C0ckermouth and the rest of Cumbria? It is a vision of what much of coastal NJ could look like with a small sealevel rise and a decent storm. Heck, Keansburg looks a lot like this now with a decent storm
Shore,
You realize Gore is one of the biggest frauds of the century right? Investigate his BS.
Bye,
Gore may well be all wet, a twit, & 52&)4, etc. That said, my own science degree leads me to conclude that humans cannot continue to treat Earth’s atmosphere and waterways like a latrine, over fish our oceans, etc., etc, without causing nature to bite back.
For tbose who hang on every word of the Bible (which of the hundreds of versions, most very badly translated bye the way, I will not ask) who believe that God created this place for us and gave us stewardship of it, how pleased do you think He is with the way we have trashed it. Geez, my dad used to get pi$$ed when I let my bike get dirty or my room was not clean. We have so thoroughly abused this planet that I would not be surprised if God were thoroughly disgusted with us.
lisoosh says:
November 20, 2009 at 3:57 pm
Chi - That in itself doesn’t make her either right or wrong, just indicates she believes what she is saying.
Name me a commentator who doesn’t have
something to lose somewhere.
l: I understand your point. My concern is that she started making market timing calls outside of her domain of expertise for no apparent reason.
She makes a call on Goldman, fine with me.
When she starts to reincarnate Abby Joseph Cohen, I begin to get loose stools. To the extent that there is evidence she may have her opinions compromised (for whatever reason), I am concerned about referring to her opinions as a reliable source.
There is a big difference between Roubini and Whitney versus Bill Gross, and I don’t even like Bill Gross.
relo says:
November 20, 2009 at 3:54 pm
185: How are you certain what DM is or isn’t into?
relo: It’s not a matter of certainty for what is private. DM only has a rap sheet for drugs.
[231] barbara,
It’s not. And it’s not new.
Shore Guy - Land is starting to get cheaper down by you.
9.0 acres waterfront in Rumson.
http://www.trulia.com/property/1071247470–Rumson-NJ-07760
Apologies if this has been posted already:
Quiet Shift in Budget May Prompt City Job Cuts
Even as Mayor Michael R. Bloomberg says that he is trying to avert laying off city workers, his aides have quietly encouraged such job cuts through an internal budget maneuver, according to city documents and interviews with those who have viewed them.
http://www.nytimes.com/2009/11/21/nyregion/21layoffs.html?em
#226 101
You were engaged? i’m amazed you even got a second date.
Gang accused of killing to sell human fat.
http://news.yahoo.com/s/nm/20091120/od_nm/us_peru_crime_odds
I guess this is as good a place as any tolet you know. I tried to subscribe to your RSS feed, but when i clicked it I got an error that said “Parse error: syntax error, followed by other gibberish that scrolled off the screen. I had to force the page to stop loading because it locked up my browser. Just an FYI.
COME TO PAPA!
This is the next GTG
http://www.maltadvocate.com/docs/whiskyfest/new_york/default.aspx
chicagofinance says:
November 20, 2009 at 4:41 pm
“To the extent that there is evidence she may have her opinions compromised (for whatever reason), I am concerned about referring to her opinions as a reliable source.
There is a big difference between Roubini and Whitney versus Bill Gross, and I don’t even like Bill Gross.”
Chi - I see everyone as compromised. Frankly I am surprised when you post shock at insider trading (top of the thread). The whole system is rigged and everyone is shuffling for position and points.
I prefer an analysis of positions to double guessing ulterior motives.
lisoosh says:
November 20, 2009 at 6:02 pm
Chi - Frankly I am surprised when you post shock at insider trading (top of the thread). The whole system is rigged and everyone is shuffling for position and points.
l: Have you worked in these shops or in corporations?
I worked at AT&T when Worldcom beat the pants off of us. I saw people get destroyed. Am I supposed to not express rage when Bernie Ebbers is exposed for cheating?
I have friends who have been whacked and abused in trading. Did you read the Bloomberg story? Most of the clowns are just fcuking hacks that couldn’t cut it without cheating.
Galleon is Barry Bonds taking steroids; these little weasels had no skill, just access.
239 Lost - I suppose that more than anything else is the reason why my Orthodox cousin’s brand new husband is going to devote himself full-time to studying Torah instead of looking for work as a Special Education teacher (he just relocated from Baltimore).
Chi - what you’re describing is the whole culture of corporate America. ALL OF IT. Both on a macro and a micro level.
I had a manager try to mess with my accounts behind my back when I was expecting my first child because “How dare I ruin his quarter by having a baby”. I only managed to get out with health benefits (for the birth) by the skin of my teeth because I wised up quickly and snooped around for dirt back. HR purposefully LIED to protect the companies a$$.
You are the one always saying that people should just adjust to reality. Reality is, as I said before, the game is rigged. People are sh!t and I have no other expectations.
I still think, for the purpose of discussion, analyse the statement, not the persons motivations. It’s about education while peering through paranoia.
Can we let the Peruvian gang loose in the midwest. For every twenty midwest porkers they harvest, they build up 5 points on a hundred point scale to citizen ship. We can also give them a nice post office job.
Gator L’chaim?
246 Gator
That’s such a coincidence. I just got myself ordained online. I figure its the closest I’ll ever get to using my undergrad degree in religion. And since I’m out injured from work, I don’t imagine I’ll have a job too much longer. But hey, I can marry people, help name babies, do some counseling and maybe some funerals. Maybe I’m better off.
If your cousin is looking in NYC, there is a hiring freeze within the board of dread. But many principals are ignoring that. He’s best off emailing principals directly. Maybe he can start as a sub. That is, if he changes his mind and wants to go back into special ed.
And people get destroyed every day keeping WS happy.
tard (206)-
Even Jesus couldn’t get a tax cut out of the bastards. He probably couldn’t get one out of Pelosi, either.
“The Roman Empire never had tax cuts and that was their damn problem.”
oops 252 is to 226.
Shore (234)-
God hates us. I thought that was a settled argument here.
chi (243)-
Now you’re talking!
this mammogram/pap smear cancer screenings stuff is either a political blunder of unforgivable proportion by the O admin, or the best “October Surprise” ever orchestrated. Either way, its no coincidence.
256- Why are they choosing women’s medical issues? That’s what I am wondering. Can’t they pick on men now?
“Cant they pick on men now?”
No, because we don’t (as a rule) go to the doctor on a regular basis for preventative care. Men get sick and they go. Women go to avoid problems.
Speaking of increased unionization:
http://mobile.latimes.com/inf/infomo;JSESSIONID=5093A6A206AF5A1C2CD0.4350?view=webarticle&feed:a=latimes_10min&feed:c=television&feed:i=50554127&nopaging=1
A bit of aslap on the wrist (via CBS News):
Terror Plot Ringleader Gets 13-year Prison Term
Nov. 20, 2009
MIAMI (AP) - The ringleader of a group of men convicted of plotting to destroy Chicago’s Sears Tower and bomb FBI offices has been sentenced to 13 years in prison
Shore,
Start looking into Fat Boy Gore. Dont step in the BS. Im no here to win a deabte. Just get informed because the idiot box is the instrument that will destroy you.
Thats coming from a boat owning, fishermen.
When the lap dog, Turbo Tax Timmy, was appointed I stated he would not make a year. Does he make 2010? He will go down as the worst Treas Sec in our history. He is robbing both back pockets; 100c on the dollar charity and destroying our purchasing power. A resignation/firing is not sufficient. Put him behind bars, next to Madoff.
Come to think of it, Madoff wasn’t half as bad. He scammed the scammers. Timmy is scamming the backbone of our country, the hard working,(if they can find a job) middle class. It is a royal f*cking.
Get rid of him, blow out the fed, let Goldman stand on its own legs.
It’s falling at a rapid pace. Trillions into a sinking, black hole will not revive this zombie. It’s time to focus on savings, investment, balancing our trade defecit and creating real jobs. There is no other alternative.
O, can you hear me?
“A gaggle of my ancestors fought as officers in Washington’s army”
Shore, this is pretty cool. I wonder how much info you have on that. Must be exciting to see the specifics and im sure its pretty well documented.
“It’s falling at a rapid pace. Trillions into a sinking, black hole will not revive this zombie. It’s time to focus on savings, investment, balancing our trade defecit and creating real jobs. There is no other alternative”
I’m going to sound like a damn broken record with the needle stuck in the groove until someone hears me and acknowledges what I say as the damn truth.
WE NEED SOME DAMN TAX CUTS! Stop trying to make it too difficult
I’m sure when he documents it, you’ll find that his ancestors were the recipients of tax cuts.
A tax cut can solve damn near anything.
263.Veto That says:
November 20, 2009 at 8:21 pm
“A gaggle of my ancestors fought as officers in Washington’s army”
Shore, this is pretty cool. I wonder how much info you have on that. Must be exciting to see the specifics and im sure its pretty well documented.
From the FDIC:
Central Bank, Stillwater, Minnesota, Assumes All of the Deposits of Commerce Bank of Southwest Florida, Fort Myers, Florida
Commerce Bank of Southwest Florida, Fort Myers, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of Commerce Bank of Southwest Florida.
…
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $23.6 million. Central Bank’s acquisition of all the deposits was the “least costly” resolution for the FDIC’s DIF compared to alternatives. Commerce Bank of Southwest Florida is the 124th FDIC-insured institution to fail in the nation this year, and the twelfth in Florida. The last FDIC-insured institution closed in the state was Orion Bank, Naples, on November 13, 2009.
(266)-
Bummer. The office over/under for tonight was 2.5.
Maybe we get two late West Coast BFFs.
We could pull every damn troubled bank out of the sand with one thing—yes, you guessed it— a tax cut.
While we were at it, we might as well give the damn FDIC a tax cut as well. What?? They’re an agency of the federal government and are exempt from tax??
Look, who gives a crap, give em a damn tax cut anyway.
What is a good dmeasure of historical tax burden on US citizens? Surely marginal tax rates dont tell the whole story. I agree that taxes are out of control from property taxes to taxes on plastic bags to user fees to parking tickets we should just give our whole paycheck to the govt before we cash it. There must be an analyis or comparison of somekind that has measured tax burden over the past century? Has anyone seen any hard evidence on this? I know its more complicated than a few pretty charts but there must be an over simplified measurement out there somewhere. Im thinking that corporations have been paying less and less share of the tax burden over the last two decades, thus leaving an increasing amount for the people to shoulder.
There are a few books out there on the subject of taxes being out of control but i havent read them mostly because i assume they are biased pieces of garbage aimed at brainwashing the reader through repetitive affirmation of the sole angle that ‘taxes are bad’.
“WE NEED SOME DAMN TAX CUTS! Stop trying to make it too difficult”
50.5,
Are you deaf? Trillions into a sinking, black hole. That equates to to a tax hike/hikes, coming to a town near you.
Bush tax cuts expiring in 2010, the most expensive “free” health care ever devised, increasing military costs for wars we can’t win, bailouts, plasma for the walking dead, zombie banks, FHA, AIG, Fannie/Freddie, unions, etc, etc.. Icing on the cake, a tax cut?
Obviously, no need to worry once you pass. You won’t be hung upside down in a cryogenics lab.
Historical Federal Tax 1913-2010;
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=543
Confused, great source on historical tax rates in the uS.
Its amazing that fed taxes for both the lowest and highest earners are at an all time low of the entire century.
But people here blame all of our problems on overtaxation. How can this be when taxes are at an all time low??
Surely I must be missing something.
#202
2007:
Granite Counter Tops, Stainless steel appliances, property tax, and easy money.
I think a lot of people here would like to get back to that level of discussion. 2009 in this forum has graduated into drawn up battle lines and political b1tching.
#193 Nom
That guy has the right idea. At the end of the day, your Nompound will create more issues for you if TSHTF than it will solve. The only way to survive will be to adapt within the urban landscape.
Reinvestor, Do you see that? Taxes are at an all time low and it was under these same conditions that caused the enormous piggish greed at the top of the food chain while the rest of the economy collapsed onto itself and nearly sent the entire middle class back into the stone age - just so a few piggish slobs could get all get rich together. If thats the end result of tax cuts, i hope they raise our taxes through the roof.
#243 Chi
I am fighting my current cold with copious amounts of Bushmills and Jamesons. While digging in the attic for some new supplies, I came across some nice malts and a few very nice brandys. I found a a bottle of Paradis that I still have to find an occasion to crack.
Jamil,
I would like an answer on where you stand on Guiliani for Senate. Will you bak him or not.
“But people here blame all of our problems on overtaxation. How can this be when taxes are at an all time low??
Surely I must be missing something.”
You are. The rich exploit loopholes, that the middle class can’t afford to.
Let me speak for Jamil. He will back whoever Glenn Beck tells him to back.
You’re also missing the increases in fica/medicare state taxes and in case you forgot, Property taxes.
And I don’t think they had 7% sales tax in Nj back in 1913 either.
jamil says:
November 19, 2009 at 3:34 pm
Guliani running for Senate in NY (not governor). Maybe the approval numbers for the fraud occupying Penn Ave finally convinced him that anybody not affiliated with Obambi will win.
Rasmussen: 46%
Quinnipiac: 48%
Fox News: 46%
Gallup: 50%
approval ratings are a massive, massive waste of time. didnt we establish that the majority of the US population is comprised of dim-witted, obese idiots who like reality TV?
#69 Bye Bye (I wish you would)
What makes me different is my belief that you cant take from your country until you have given to it. Too many so called Americans want help that they don’t deserve
The bigger issue that you miss is that even for those that have served and suffered, there are those who would begrudge them anything.
Why not start with the ones that not only deserve it, but have genuine needs that have to be addressed but are ignored.
Start here
http://www1.va.gov/homeless/page.cfm?pg=1
Then work you way back up the social chain to the cut off point where you can then determine who is deserving or not.
275.Veto That says:
November 20, 2009 at 10:53 pm
Reinvestor, Do you see that? Taxes are at an all time low and it was under these same conditions that caused the enormous piggish greed at the top of the food chain while the rest of the economy collapsed onto itself and nearly sent the entire middle class back into the stone age - just so a few piggish slobs could get all get rich together. If thats the end result of tax cuts, i hope they raise our taxes through the roof
Stinking liberal wealth redistributionist is an apt moniker for you. That damn tax table damn near made me shlt my damn pants. They’ll be holding the damn ice follies in hell they day I EVER pay 90+% on the damn margin.
The damn tax cuts have benefited everyone and then some. The problem is the damn tax gap created by young fresh faced punks like Stu trying to pull a damn Leona Helmsley at every opportunity. He came on here months ago bragging about shifting personal expenses to his damn rental unit so as to evade paying his fair share of taxes. It’s crap like this that is the damn problem
I hope the IRS audits his cheap ass. Damn tax cheat. While they’re at it, I hope they audit you too.
50.5,
My unit in my multi should be available some time in the Spring. I am offering you the right to first refusal.
270.BC Bob says:
November 20, 2009 at 10:08 pm
“WE NEED SOME DAMN TAX CUTS! Stop trying to make it too difficult”
50.5,
Are you deaf? Trillions into a sinking, black hole. That equates to to a tax hike/hikes, coming to a town near you.
Bush tax cuts expiring in 2010, the most expensive “free” health care ever devised, increasing military costs for wars we can’t win, bailouts, plasma for the walking dead, zombie banks, FHA, AIG, Fannie/Freddie, unions, etc, etc.. Icing on the cake, a tax cut?
Obviously, no need to worry once you pass. You won’t be hung upside down in a cryogenics lab.
You’re starting to sound like Sas here and trying to scare the hell out of everyone. Let’s get something straight, you don’t scare me one damn bit and I’m not gonna equivocate one damn iota on my insistence for some damn tax cuts.
The thing you damn liberals don’t understand is that we need to starve the government beast. We need small goverment and low taxes to cut that damn beast down to size.
Hell, if I had a tax cut, I’d hire someone tommorrow.
What??? You don’t believe in paying your fair share of the damn taxes, why in the hell would I believe you’d be a good landlord? No doubt you’d be cutting every damn corner possible to squeeze every damn dime of profit from the rental like being very skimpy on basic things like the heat and the damn lights.
Thanks but no thanks. I’d be better off homeless.
285.Stu says:
November 20, 2009 at 11:29 pm
50.5,
My unit in my multi should be available some time in the Spring. I am offering you the right to first refusal
“Shore, this is pretty cool. I wonder how much info you have on that. Must be exciting to see the specifics and im sure its pretty well documented”
Thanks to a aunt, the DAR, and some books written in the 1800s it is. It is amazing to read about.
From an ASCAP newsletter:
A London-based translation firm is offering parents-to-be the chance to check the meaning of prospective baby names in other languages to avoid inadvertently causing their offspring future embarrassment. Celebrity couple Tom Cruise and Katie Holmes might have thought twice about naming their daughter Suri if they’d known that it means “pickpocket” in Japanese, “turned sour” in French, and “horse mackerels” in Italian, suggest Today Translations.
It occured to me today that, at 39, I have never been without health insurance in my entire life. Even between jobs, I was on COBRA. When a senior in college I was too old for the parents so I paid out of pocket at my job. I have friends that have gone a decade or more without coverage.
Not sure that Obama did not just F-up because that Japanese leader was so darn short. Maybe he wanted to bow and honor the other leader and he just bowed a little to far.
Cascading theft … compounding misery
by Peter Souleles
October 21, 2009
I used to think that “civilized society” was defined as people collaborating and in the process of doing so, providing each other with goods and services, mostly for reward but at times – either through taxation or volunteerism – for free to those less fortunate. In the process of this collaborative exchange, man was supposed to become more enlightened, thus ensuring optimum outcomes could be secured with fewer natural resources and less labor, abetted by invention, cooperation and innovation. Each generation was to leave behind a legacy of capital formation (roads, bridges, schools, etc.) as well as an intellectual legacy in the arts and technology.
Over time, a compounding of these positive developments would endow each successive generation with a higher standard of living, without the good earth being gutted and polluted beyond recognition.
But something, unfortunately, has gone wrong, and it may possibly become far worse than we can imagine. What has been the source of this failure to compound progress?
The answer is theft. Earthquakes, tsunamis and other such natural phenomena, as well as diseases, are of miniscule consequence compared to theft. Theft throughout history has manifested itself in the same forms again and again and each time it has resulted in resources either being destroyed or re-distributed in the process.
It is my thesis, in this brief essay, that theft is supplanting value in both the medium of exchange as well as in the exchange itself. Theft has become the manifestation of greed and moves in when the conscience moves out. As a result, we are faced with the phenomenon of cascading theft – that is, theft that leads to more theft. In the end, the concept of “value added” is transformed increasingly into “value lost.”
War
War, which has often been described as organized theft, most probably occupies equal top spot in the rankings. History has repeatedly cast conquerors as liberators who bring some form of democracy/freedom to the downtrodden, when in fact a closer examination shows that the conqueror either carts off the spoils and/or leaves behind a corrupt and compliant democracy or dictator that allocates favorable concessions to the bankers and capitalists of the conqueror….
http://www.prudentbear.com/index.php/featuredcommentaryview?art_id=10300
Big property bubble forming in China, warns leading developer
Price rises in top-tier markets such as Beijing and Shanghai have been much faster. Analysts say the rebound has largely been driven by an unprecedented government-led expansion of bank lending. It is also being driven by government policies, including tax breaks, low interest rates and smaller down-payment requirements.
Investment in real estate development, a key driver of economic growth, rose 18.9 per cent in the first 10 months of the year on a year earlier, a marked acceleration from 17.7 per cent growth in January-September.
Ms Zhang said the current speculation should be a serious warning for the industry and the general economy.
“In Manhattan, they have vacancy rates of 10-15 per cent and they feel like the sky is falling, but in Pudong [the central business district in Shanghai] vacancy rates are as high as 50 per cent and they are still building new skyscrapers,” she said.
“If you look at GDP growth, then China looks like a new engine driving the global economy, but if you look at how growth is being created here by so much wasteful investment you wouldn’t be so optimistic.”
283.
Indeed those men and women do deserve it. I propose a complete restructuring of the existing social welfare system.
A gradual phase out of Social Security.
Existing welfare only to veterans. Every other form of welfare will come from charities.
I bet I could get a good deal on a house in Detroit.
Unburied bodies tell the tale of Detroit — a city in despair
“The abandoned corpses, in white body bags with number tags tied to each toe, lie one above the other on steel racks inside a giant freezer in Detroit’s central mortuary, like discarded shoes in the back of a wardrobe.
Some have lain here for years, but in recent months the number of unclaimed bodies has reached a record high. For in this city that once symbolised the American Dream many cannot even afford to bury their dead.
“I have not seen this many unclaimed bodies in 13 years on the job,” said Albert Samuels, chief investigator at the mortuary. “It started happening when the economy went south last year. I have never seen this many people struggling to give people their last resting place.”
Unburied bodies piling up in the city mortuary — it reached 70 earlier this year — is the latest and perhaps most appalling indignity to be heaped on the people of Detroit. The motor city that once boasted the highest median income and home ownership rate in the US is today in the midst of a long and agonising death spiral.”
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6926247.ece
Heres the best part of the above article.
“The murder rate is soaring. The school system is in receivership. The city treasury is $300 million (£182m) short of the funds needed to provide the most basic services such as rubbish collection. In its postwar heyday, when Detroit helped the US to dominate the world’s car market, it had 1.85 million people. Today, just over 900,000 remain. It was once America’s fourth-largest city. Today, it ranks eleventh, and will continue to fall.”
Sounds like a liberal/communist Utopia.
“fica/medicare state taxes, Property taxes and Sales taxes.”
Danzud, these are probably the sources of most of the increases over the years. Makes it difficult to track all in one place but im sure its been done somewhere.
I quickly googled ‘New jersey sales tax rate history’ and can see that sales tax has definately been increasing since the 1930s in nj when there didnt seem to be any sales tax.
Interesting site which lets you view IRS Form 1040, from 1913 to Present. During WWII for example, their were lines for % Defense Surcharge, to pay for the War (Pay as you go). Unlike today, where we don’t fund wars, (Kick the can down the road).
http://www.taxhistory.org/www/website.nsf/Web/1040TaxForms?OpenDocument
“providing each other with goods and services, mostly for reward but at times – either through taxation or volunteerism – for free…”
The central thesis regarding theft is interesting.
Why doesn’t the author realize that in providing goods and services through taxation, however, they are not provided for ‘free’?
Since one has no choice in the matter and will face a loss of liberty and possessions if not compliant, it would seem to me that taxes resemble less volunteerism and more…theft.
Just a thought.
BTW, you have to keep your logins separate or disclose RE101’s true identity. Anyone know it, or can discern it through writing style?
299 leftwing
I have an idea who it is but I could be way off.
VETO 272
the real tax rate is way above the federal tax rates. As you pointed out before you would have to include everything fro sales taxes to various consumption taxes to property taxes ect.
I say a rough estimate of this a while back and the author suggested that the average middle class citizen is closer to 35% taxation
Has anyone read this book?
Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free ~ Ellen Hodgson Brown
Im a little past halfway through this 500 page monster - its already one of the best books ive read in a while. highly recomended. It covers the gammit, from central banks looting the public through inflation to currency manipulation and economic warfare with China to credit cards, personal bankruptcy and of course ‘the illusion of home ownership’ which is a chapter that im really looking forward to.
It reads like a dan brown thriller and has overtones of njrereport. I swear its author is a collected effort of all the characters here, but almost every claim is neatly backed up with easily confirmable facts, charts and histories. the amount of research and information is unbelievable.
Here is a nugget from the chapter entitled ‘debt serfdom for american workers’…
“The US has now surpassed even the third world in its debt level… The wealthiest 1% of americans own 34% of us wealth, up from 30% in 1989. and the wealthiest 5% own 94% of total bond value, 72% of total real estate value and 79% of the stocks. Wile the super rich are amassing fortunes rivaling small countries, americans in the lower brackets are struggling with food and medical bills… American corporations are assured of cheap, non-mobile labor of the sort found in third world countries by a medical insurance system and ther benefits tied to employment. People dare not quit their jobs, however unsatisfactory, for fear fo facing medical catastrophes and most bankruptcies are the result of medical emergencies. The Bankruptcy Reform Act of 2005, written by and for credit card companies, eroded the protections once provided against these unexpected catastrophes, ensuring that working people are kept on a treadmill of personal debt. Meanhwhile loopholes allowing very wealthy people and corporations to go bankrupt and shield their assets from creditors remain intact.
The debt crisis has been blamed on the imprudent spending habits of people buying frivolous things but two-income families are actually spending 21% less on clothing, 22% less on food, and 44% less on appliances than one-income families a generation earlier. The real reason is that they are spending substantially more on soaring housing prices and medical costs. In 2003 the average family was spending 69% more on home mortgage payments (inflation adjusted) than their parents a generation earlier and 61% more on health costs. At the same time real wages had stagnated or declined. Most people are struggling to get bye with less and in order to get by, many turned to credit cards to pay for basic necessities.”
Syracuse 87 - NC 71
Boo-ya Schump… Boo-ya!
“the average middle class citizen is closer to 35% taxation”
Ket, im shocked its not more like 50%.
Income taxes, sales taxes, property taxes, inheritance taxes, fuel taxes, cable and cell phone taxes, investment taxes, liquor taxes. Im sure middle class is at 50% taxation. For most people property taxes in NJ is close to 10% of their annual income alone.
kettle1
I thought middle class was closer to 50% taxation (at least in NJ and California).
question of the weekend. How long can you stay in the house without paying
the mortgage and the Heloc??
1yr,, easy 2 perhaps, 3 ?
Knicks, Nets, Giants & Jets; nil for November. Opps forgot, add O to that list.
safe Veto
that was from something i read about 2 years ago and was a national average.
I have indeed seen estimates of 45% for eastcoat/westcoast areas
my main point was that simply tracking federal tax rates is only a fraction of the picture at best.
We may not know the number but we can all agree it very high.
Besides if we are going to be effectivly taxed at the same rate as the europeans why not get some of their crazy labor and healtcare benefits?
Freedy
2 at a min a would gamble that if you know how to work the system you might be able to pull off 4 yrs with all the new foreclosure regs
Are we talking about playing the recidivism game here?
You could probably make a few payments under hamp or mediation and effectively reset the clock.
“Not sure that Obama did not just F-up”
He messed up BIG TIME. Image is very important, and while he is doing thre right thing trying to mend the bridges burned and damaged by Bush, he is a fool if he does through apparent weakness. The strong who are gracious and polite are respected. The weak who behave the same way are, well, seen as weak.
New Jersey sales tax was started in 1966..Before 1966, the only taxes that individuals in New Jersey paid to the state were on the purchase of gasoline, tobacco products and alcoholic beverages…http://www.njpp.org/rpt_salestax.html
Veto - #302 - Not sure about the author but that piece you quoted has the stink of plagiarism from Elizabeth Warrens Two Income Trap.
Otherwise, this thread reeks of paranoia and self fulfilling feedback, enjoy.
Shore,
I don’t think the world has seen polite and gracious from the US since about 1945. Since 1941 Righteous Might has been the bedrock of US diplomacy.
Its funny in that all the barking from the right, no one has thown up this up into the arguement.
http://en.wikipedia.org/wiki/File:Avenge_december_7.jpg
Housing Bubble in China? Tosh! There is no bubble until Toll, KHov, etc. start building there.
PGC,
I prefer the TR approach of speaking softly and carrying a big stick. He knew we were strong and was not opposed to using our strength to project power and aupport our national interests but did so in a way that did not engender emnity towards the US.
this should be worth a few % points raise in property taxes …http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html
#313 I think we should stop the doom and gloom and one of us should rush out now and grab this charmer.
http://www.njmls.com/cf/details.cfm?mls_number=2900677&id=999999
Gary if buying does not work for you, here is a chance to rent in a blue ribbon train town. You could be in for Christmas!!!
http://www.njmls.com/cf/details.cfm?mls_number=2947281&id=999999
#316 Shore.
The sad thing is tha TR would be hounded out of the current Republican party.
Under 200k in Bergen Co, ealy 1990’s pricing today!!
http://www.njmls.com/cf/details.cfm?mls_number=2945651&id=999999
299k in Geln Rock.Gary where are you?
http://www.njmls.com/cf/details.cfm?mls_number=2929764&id=999999
#322 Glen Rock
For those that are handy this might work. 399k!!! in Blue Ribbon 2 train town Glen Rock.
http://www.njmls.com/cf/details.cfm?mls_number=2927754&id=999999
Gary 399k in Ramsey, you know you love Ramsey.
http://www.njmls.com/cf/details.cfm?mls_number=2914462&id=999999
just thought I’s share this. I was speaking to a customer yesterday i would place his age to be in the mid 60’s. I mentioned to him that I would like to buy in the next 6 months or so and he quickly gave me advice:
“buy above your means your income and family will grow into the house”
“thats what got us into the current mess” I said.
“it will come back” he responded. I politely ended the conversation and thought to myself the psychology hasn’t changed much
3b
That 299 Glen Rock could be the BC bargain. That is a 10 min walk from Ridgewood station and shops.
I was at the bank yesterday and heard a barber saying this economy has finally hit his customers. They are coming in less frequently, and getting less expensive options.
“The sad thing is tha TR would be hounded out of the current Republican party.”
Sad but true. He would be decried as a RINO, and thrown over thr cliff. As a TR Republican, I find it harder and harder to identify with the party. On the otherhand, the Dems are not an option either.
If Whitman had resigned as EPA Administrator instead of going along with boneheaded Bush Administration policies to gut environmental protection, she would be a viable option in ‘12, but in the unlikely event she got the nomination, the Dems would rip herapart on Green issues.
Back to Real Estate,
Can I declare a new RE term. Here we have a “Bubble Bypass”
488 CRANKSHAW PL
Wyckoff
07/2004 Bought
$450,000
11/2009 Sold
$675,000
So unless they ploughed a boat load of cash on updates, they got in and got out at a nice profit and left a realistic comp that will pi$$ of the neighbors.
231: After I caught a flight out of Sarajevo to Germany on Christmas eve 1997 my wife sent me to an elderly woman living in her village to clean out her house of accumulated trash and garbage. House had no heat, walls covered in exscrement. She was surrounded by cold, half-opened cans of cat and dog food. I have no doubt the stories are true.
leftwing (299),
It’s pretty obvious to me that re101 is a caracature of a “right-winger” dreamed up by some leftist. This is called a strawman sockpuppet, with the leftist letting re101 say incredibly stupid and contradictory things. Thus everything RE101 says is best ignored.
Hackers Prove Global Warming Is A Scam
http://globaleconomicanalysis.blogspot.com/2009/11/hackers-prove-global-warming-is-scam.html
HEHEHE
global warming as a political issue may be bunk but human caused climate change is not. you cannot impact an ecosystem on a global scale in the manner we have and not expect effects.
332.
DL
That’s an example of a crazy person, not a steady trend happening to poor elderly. re: excrement on the wall.
By urban myth I’m not suggesting it never happened, I’m saying its not a widely observed occurence, not by a long shot.
Remember the stories of people jumping out of buildings in NYC during the big crash? Also an urban myth. Did it happen, maybe but not to the extent that we have all be told over the decades since.
“that piece you quoted has the stink of plagiarism from Elizabeth Warrens Two Income Trap. This thread reeks of paranoia and self fulfilling feedback”
Lish, Yes warren was quoted in part of that. But she pulls from multiple sources throughout so dont let that distract you.
And of course its got an air of paranoia. And if thats not your taste, what the hell are you doing in this blog everyday of the week? Because i can tell you the book is less paranoid by any standard.
Another interesting part is that it claims that wizard of oz was all about taking the us off of gold standard and then each chapter explains how.
Funny thing. Whether its all sh!t or all 100% true is unimportant to me somehow. Im having a great time with it.
Just went to look at a number of houses in Summit. One was a short sale and was told that it was used by the FD for training - real nice. Wasn’t allowed in to see it but told it was destroyed.
All were either tear downs, on a busy street or on a small lot.
After seeing the sales comps since ‘2006 and the 700+K teardowns, it seems that a newer 4 br/2ba on a .4ac lot on a relatively quiet street is well over 1MM.
All foreclosures I found were on the low end in that town.
The [Iranian] guard seemed to believe sex and alcohol can be enjoyed easily in New Jersey.
http://www.nj.com/news/index.ssf/2009/11/journalist_detained_in_iran_sa.html
Gold….can’t eat it, can’t use it, but I can sell it for $400 more than I paid for it.
that Iranian guard would be correct.
anyone out this lovely NJ afternoon
making offers on these overpriced POS’s
and don’t forget the taxes.
NJ, the Garden State
337 - was the FD practice house a ranch near memorial field? If so, it wasn’t a practice house.
Iranian guy wants to live large in New Jersey.
We have found the Holy Grail. The key to NJ prosperity fits the lock on the Middle East. No more Kissinger. No more spinning our wheels. Bring the crew home from Iraq.
All we need to do is offer free NJ vacations for all Iranians. They can get a day at the mall with Chunky Pam, consume pizza and Bud till they puke down the shore, and sit in traffic on the Parkway with Bruce and Bon J. I know we can get these personalities to donate time for a good cause.
342 - yes - $599K and under contract w/ 2 backup offers … and stream to the right of the property. I drove by w/ the realtor just to see the location. Also drove by the “buildable” lot … and I do mean drive by as I’d need a Hummer to climb that mountain. His comment was classic when I was shaking my head to move on … it may be somewhat level at the top…
Hey folks. Stu, Lil Gator and I are in our cabin and looking out over San Diego. Sailaway is in less than 2 hours and then we’ll find Escape from NJ. Now all that’s left to do is pick a sailaway c*cktail and head off to Mexico. Have a great Thanksgiving Week!
333.A.West says:
November 21, 2009 at 11:25 am
leftwing (299),
It’s pretty obvious to me that re101 is a caracature of a “right-winger” dreamed up by some leftist. This is called a strawman sockpuppet, with the leftist letting re101 say incredibly stupid and contradictory things. Thus everything RE101 says is best ignored.
Leftist?? Strawman Sockpuppet?? What???
Them thar is fighting words. I don’t have to take this crap. I got your damn “left” and your sock puppet too. Let’s setup a damn appointment so I can deliver these to you. How’s high noonish on November 25th? I guarantee that you’ll come out of that damn appointment with an attitude adjustment.
Moreover, I’ve met every damn litmus test possible for being a rock ribbed American patriot. I want small government and low taxes, I love Glenn Beck, I flipped every piece of real estate I could lay my damn hands on and I never missed one town meeting to raise hell about government controlled healthcare they’re trying to jam down my damn throat. WHAT THE HELL ELSE DO YOU WANT?
Come to think of it, I’ve not seen you post a damn thing in support of any of that. Methinks you’re the one who’s a damn lilly livered leftist liberal.
I’m only responding to this to prove that I’m always civil to those who are civil to me. People like Pat, A. West, Stu, Clot, BC Bob and others have treated me very badly and it brings out my rough side.
As to your point, I believe the author tries to distinguish between taxation that winds up fueling the coffers of various corporations lining up at the public trough versus the sort of taxation that the citizens actually derive a benefit from. Certainly, neither is “free”, but it can certainly be argued that our tax dollars are truly confiscated in instances where there’s no real return to taxpayers; a good example of this being the amount of taxes being diverted to support the military industrial complex versus tax dollars spent to enhance our educational system, physical infrastructure and etc. The confiscatory nature of taxation is apparent when one considers we have a world class military while the things that the people need lie in ruin.
The taxes are our money. If they’re spent on stuff we really need, there’s no theft as we can’t steal what’s ours. If they’re spent to enrich someone else to the detriment of the people, there’s theft. I believe that’s the distinction.
300.leftwing says:
November 21, 2009 at 7:42 am
“providing each other with goods and services, mostly for reward but at times – either through taxation or volunteerism – for free…”
The central thesis regarding theft is interesting.
Why doesn’t the author realize that in providing goods and services through taxation, however, they are not provided for ‘free’?
Since one has no choice in the matter and will face a loss of liberty and possessions if not compliant, it would seem to me that taxes resemble less volunteerism and more…theft.
Just a thought.
BTW, you have to keep your logins separate or disclose RE101’s true identity. Anyone know it, or can discern it through writing style
Grim 348 in moderation.
Where’s the housing recession??
Wall St. Finds Profits Again, Now by Reducing Mortgages
http://www.nytimes.com/2009/11/22/business/22loans.html?hp
[274] PG county,
I am aware of that, and think that Ferfal has a lot of good suggestions. But there are differences between Argentina and the US, and there is more to the Nompound than just a TEOTWAKI lifeboat property.
Ferfal is of the opinion that the best defensive weapon you can possess is intellect. I agree, but also believe that it is good to have backup. Ferfal also understands that Nompounds are not realistic for everyone. Typically, compounds are for those wealthy enough to have remote, defensible properties to provide in awful times. I am not, which is why the Nompound (as I conceptualize it) isn’t a typical compound, which was why Spam derided it as a time share.
[278] stu
If you are looking only at rates of taxation, you are missing a good part of the picture. For example, in 1986, TRA 86 lowered marginal rates dramatically, but it also eliminated deductions, and closed a lot of tax shelter methods. So, in reality, total taxation didn’t much change across horizontal groups.
Also, you have to look at taxation in a worldview. We are losing capital and business to the rest of the world, even Europe, due to our tax structure. If our taxes are so low, why is this occurring?
Finally, while rates are lower than they’ve been in the past, in reality, taxes are more pervasive and more onerous than they were before. It used to be that business decisions were not made for tax reasons—-hence the old adage “don’t let the tax tail wag the dog.” But analysts are now telling clients that they should take tax into consideration when making business decisions.
[272] veto
Those are marginal rates. What about effective tax rates?
[274] pgc
Also, read some of FerFals earlier stuff, and he endorses a lot of reasoning for having rural support property.
Finally, FerFAL’s ideas are based on the idea that society won’t crumble on the order of Road Warrior. Rather, I think FerFal foresees that we have the Great Depression with a lot more violent crime. That isn’t a breakdown, but in an era where places like Detroit look like Snake Pliskin has to break into it, and we have pandemics, terrorism, riots, etc. that can make urban areas unliveable for limited periods, then a Nompound makes sense so long as it isn’t a financial burden (and I intend to follow the compound examples of my F500 client families—theirs made money).
Nom - re: “society won’t crumble on the order of Road Warrior.”
With or without the nukes? Peak cheap oil is real, and anyone here will tell you we will go to war over oil, heck you could even say we have twice in the last 18 years.
BC Bob says:
November 20, 2009 at 8:08 am
Blow the whole thing to smithereens. it’s our only hope. Raise interest rates, defend the dollar, blow out the speculators, provide real incentives to save, produce and assist small businesses in creating jobs. Otherwise, it’s dead man walking, sucking the teet of the govt. That is, until there’s zero left to suck.
BC, what are the drawbacks to this? Sounds easy enough. why wont they do it?
BC-
Played FC Thistle in Harrison today. Lucky as hell to get a 1-0 win. Definitely the highlight of our season…and it’s been a good one. I’m glad my kid got a taste of what Kearny is all about. Those kids gave him a few pops (clean) and made him play hard enough to win a proper game of football. God knows playing a bunch of whining thug Graydons in our neck of the woods won’t do it.
I tried to get him to go with me for some fish & chips, but he drew the line (”I don’t feel so good right now. Why do I want to eat a bunch of fried crap?”).
Seeing as how he’s 12, I couldn’t exactly offer to buy him a shot and a beer in Harrison, but that day will come.
Stu and Gator on vacation? What are the odds.
Enjoy!
“WASHINGTON (Reuters) - President Barack Obama’s job approval rating has dropped below 50 percent in a second major poll in an indication he is suffering from the long healthcare debate and weakness in the economy, Gallup said on Friday.
Gallup said 49 percent of Americans approved of Obama’s job performance. A survey by Quinnipiac University on Wednesday had a similar finding, putting him at 48 percent support.
It was the first time he had fallen below majority support in those two polls. He had been polling in the low 50s for months after taking office in January with an approval rating just under 70 percent.”
snip
This is from Reuters via Google News
http://mobile.reuters.com/mobile/m/FullArticle/CPOL/npoliticsNews_uUSTRE5AJ53220091120
The link
Looks like the healthcare bill is going to pass. Its marked up as 1 trillion over 10 years. More like 3 trillion. Medicare insolvent by 2016 and lets add this to solve the problem.
Engrave this in your granite counter tops you fing losers. This will be the death blow to the dollar.
Its gonna be a fun ride. Hope you can fish, hunt, and shoot straight.
“Those are marginal rates. What about effective tax rates?”
Nom, i was hoping you would weigh in here. Whats your thought? Are we currently overtaxes as ever before? OR is has this last decade been a fairly low tax environment? (historically speaking)
This question includes all taxes - Fed, sales, property, etc.
Also, isn’t there a measure or study that adds up all the taxes paid by public and divided by gdp or something?
I would think we are more taxed than the 30s when there was very few social services but what about compared to the 60s and 70s and 80s. Also, what about the burdedn shift from companies to the public. Its seems that companies are getting more tax breaks lately, leaving the public to pay more and more of the bill. Is this true?
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