Even G-D not spared in real estate slump

From the Star Ledger:

Recession causes houses of faith to flood N.J. realty market

The latest entries in the New Jersey real estate market feature some unusual amenities.

A two-floor building in Seaside Heights comes with a baptismal pool, as well as a few “open sitting/reading areas.”

In Montclair, a 16,133-square-foot property includes Palladian windows and a large wood-paneled conference room.

There’s a basement meeting hall and “main sanctuary” in an Audubon facility overlooking Hidden Lake Park — on sale for $490,000.

The three church properties are just a sample of the many houses of faith that have come on the market in New Jersey alongside a flood of foreclosed residences. Experts point to a range of factors, from long-developing demographic shifts to a drop in donations during a tough recession.

“A lot of congregations, especially in smaller churches, have older populations, so they can no longer afford to maintain large properties,” said Mark Kotzas, a broker for Crossroads Realty in Ocean County, which is handling the sales of several faith centers, including Grace Evangelical Church, the one advertising the baptismal pool.

Brokers say the hurdles in selling religious properties are often different from private home sales. There are fewer potential buyers in the market; decisions are often made by committees in the congregation; zoning restrictions may prevent certain properties from being converted.

“How do you value these properties?” said John Roedig, a partner with the May Commercial Group and the broker for the Grace Tabernacle Church in Audubon. “You have some general assumptions about a two-story Colonial house, but what can you say about a 20,000-square-foot building’s price?”

“Banks have gotten so strict in their lending,” said Drew Knapp, an agent with Century 21 Commercial Real Estate in Caldwell.

This entry was posted in Economics, Housing Bubble, New Jersey Real Estate. Bookmark the permalink.

235 Responses to Even G-D not spared in real estate slump

  1. Final Doom says:

    The God bubble is bursting.

  2. Final Doom says:

    Ladies and gentlemen…the incompetent and criminal Tim Geithner:

    Defining G-20 Success

    Merkel and Trichet politely told Geithner to go to hell. Given that Geithner needs to be fired, this is a positive event.

    Europe is more concerned about sovereign debt issues than stimulating growth. Only fools like Geither and the IMF would argue against that.

    No one paid any attention to Geithner or the Keyenesian clowns at the IMF, most notably, IMF Managing Director Dominique Strauss-Kahn.

    There was no agreement on a universal bank levy. A universal tax is the wrong approach to risk management and it punishes banks with good lending practices.

    Geithner made a complete fool out of himself.

    A dozen cheers for German Chancellor Angela Merkel who said “We can only spend what we receive in income.” Finally someone gets it.

    http://globaleconomicanalysis.blogspot.com/2010/06/g-20-amazing-success-another-look-at.html

  3. renter says:

    http://www.nationalledger.com/ledgerpop/article_272632142.shtml

    Too good looking to work?

    Posting for John

  4. serenity now says:

    Looks like the US dollar is floating to the
    top of the septic tank.

  5. Al Gore says:

    The horsemen ride on. People are gonna need those places of worship when they experience what’s coming down.

  6. yo'me says:

    Merkel and Trichet politely told Geithner to go to hell. Given that Geithner needs to be fired, this is a positive event.

    The overvalued dollar is going to make export expensive again and will kill hopes of better employment in the US.The lower value of the euro makes export in the euro zone more attractive,of course they will say Go To Hell! Wait until they pay in euro and and the Creditors want to get paid in dollars.Then we say screw you!

  7. Final Doom says:

    All fiat paper currencies are sinking to the same level of worthlessness.

    The wheels are coming off. Inhale deeply the stench of oblivion.

  8. Final Doom says:

    Europe is the new Japan. Economy-as-prostitute.

  9. Shore Guy says:

    Bad timing for BP (not that the spill is anything like what UC did, but the patience for corporate environmental destruction and accidents has waned):

    Bhopal trial: Eight convicted over India gas disaster
    7 June 10 10:48 GMT

    A court in the Indian city of Bhopal has sentenced eight people to two years each in jail over a gas plant leak that killed thousands of people in 1984.
    The convictions are the first since the disaster at the Union Carbide plant – the world’s worst industrial accident.
    The eight Indians, all former plant employees, were convicted of “death by negligence”. One had already died – the others are expected to appeal.
    Campaigners said the court verdict was “too little and too late”.
    ‘Betrayal’
    Forty tonnes of a toxin called methyl isocyanate leaked from the Union Carbide pesticide factory and settled over slums in Bhopal on 3 December 1984.

    snip

    From the BBC

  10. Shore Guy says:

    “Economy-as-prostitute.”

    Somehow, gettinc sc-rewed by the economy is less satisfying.

  11. Shore Guy says:

    getting, too

  12. yo'me says:

    There is no doubt that this is the steepest and longest downturn of the post-World War II period. However, the number of the long-term unemployed (more than 6 months) is not a good measure of its severity.

    The reason is simple, benefits are available for a much longer period of time than has been the case in prior downturns. In some states benefits are available for as long as 99 weeks. This gives unemployed workers the opportunity to spend more time looking for work than would otherwise be the case. Therefore, they are less likely to take a job that means a large pay cut and/or does not fully utilize their skills. Also, some people who may otherwise drop out of the labor force continue to search for work (and get counted as unemployed) because looking for work is a condition for receiving benefits.

    It is important to realize that this does not necessarily mean that extended benefits are raising the unemployment rate. If the long-term unemployed took low-paying jobs they would mostly be replacing other workers. However, the unusually long duration of benefits prevent a direct comparision of the number of long-term unemployed across recessions.

    [Addendum: From some of the comments I realize that I may not have been very clear. I think that extended benefits are a good thing. We have a very severe problem of unemployment; the worst since the Great Depression. In this context, it makes sense to give unemployed workers more time to look for new jobs. That increases the probability of finding a job that fully utilizes their skills. (To take an extreme example, it would not only be bad for the worker, but a loss of skills for the economy if a brain surgeon was forced to take a job as a checkout clerk.)

    However, if we extend the period of benefits to allow workers to take more time to find an appropriate job, then it should not be surprising that workers take more time to find an appropriate job. The duration of unemployment is no longer a consistent measure of the severity of the unemployment problem. This is just a measurement issue that reporters (and many economists) have been getting wrong.]

    Dean Baker

  13. Knifecatcher - Painhrtz says:

    God is dead

  14. Comrade Nom Deplume says:

    [14] knife

    Too early to quote Nietzsche.

    Here’s another:

    “After coming into contact with a religious man I always feel I must wash my hands.”

    And my favorite comeback:

    “Nietzsche is dead”
    –God

  15. Pat says:

    yo’me, if you view motivations of human behavior only from an economic standpoint excluding societal mores, then Dean Baker can toss the extended duration of unemployment.

    We may indeed not care that workers take longer to find jobs, since they may be unemployed purposefully from a self-interest standpoint, as stated.

    But if we consider the enduring legacy of long term unemployment, measurable by law enforcement statistics, cost of capital increases attributed to competing sources, and birthrate changes, then long term UE is a valuable tool in measuring the severity of the issue.

  16. Comrade Nom Deplume says:

    Houses of worship coming on the market is not unusual, and there is an submarket between congregations for the sale and purchase of such properties between congregations, and even faiths.

    They are also sometimes bought for private use, and I know of a person in Winchester MA that purchased a small church and was in the process of converting it to his home. We played street hockey on what used to be the church floor after the pews were removed. He also soaked wine labels off bottles and was using them to paper the walls of the kitchen area, so I started saving labels too for an eventual project. But gave up after getting enough for a poster.

    In a sort of inverse story to the above, I have toyed with the idea of forming a church as a nonprofit, charitable entity in which to hold the Nompound, and create a “congregation” that would “support” it. There are some legal problems to this so structuring would be difficult, and I think unworkable in light of better alternatives. But it would have made “contributions” tax deductible.

  17. Comrade Nom Deplume says:

    And this Nietzsche quote is for Final Doom”

    “And if you gaze for long into an abyss, the abyss gazes also into you.”

    BTW, drove by your office yesterday afternoon, Doom, but it looked closed up so I didn’t stop.

  18. Comrade Nom Deplume says:

    And finally (cuz I am very busy today), a Nietzsche quote for John:

    “Egoism is the very essence of a noble soul.”

    John would doubtless agree.

  19. Shore Guy says:

    ““Egoism is the very essence of a noble soul.”

    For John, modify that to ““Egoism is the very essence of a handsome, intelligent, and modest soul.”

  20. Essex says:

    “No egoism is so insufferable as that of the Christian with regard to his soul.”

    ~ William Somerset Maugham quotes

  21. Final Doom says:

    Pat (16)-

    All UE stats promulgated by the gubmint are lies.

  22. Confused in NJ says:

    However, if we extend the period of benefits to allow workers to take more time to find an appropriate job, then it should not be surprising that workers take more time to find an appropriate job.

    The interesting thing about extended Federal Unemployment Benefits is there is no check on whether or not you are actually looking for employment, as is the case for State Unemployment Benefits or State extensions.

  23. Pat says:

    Nom, the whole Koolaide thing really puts a black cloud over the church loophole.

    Maybe some kind of charitable org that donates 1k per year to various “causes.”

  24. Final Doom says:

    plume (17)-

    Going the Reverend Ike route?

  25. Shore Guy says:

    No egoism is so insufferable as that of the Democratic party with regard to taxtion of the productive classes.

  26. Final Doom says:

    plume (18)-

    We didn’t open on weekends when the market was good. Can’t sell RE sitting in an office.

  27. Mr Hyde says:

    Shore,

    I disagree about bopal. I had to study the bopal incident as well as a number of other similar cases as part of degree. The common thread is gross disregard for safety.

    They story so far of the deep-horizon sounds like a classic tale of hubris and disregard for mandated safety practices. A number of built in safety systems and practices had to be bypassed or modified before the deep hoprizon disaster could have struck.

    failing to do the cement integrity test… Failing to monitor mudflow…. using an untested modified BOP….. unsubstantiated rumors of a number of other safety bypasses along the way as well.

    I have talked to a few oil guys and the bypassing of safeties is not uncommon for BP on Deepwater wells in order to meet project goals. It was only a matter of time.

    The human death tolls may not be similar but the nature of the disaster, the underlying causes, and widespread damage/destruction are all very similar. There is also the similarity of each company trying to minimize the information available to the public about the true extent of the incident.

    An oil guy i spoke said that he was on a gulf rig where BP took very similiar actions and the only reason the well didnt blow out was because they failed to find oil/gas. If they had hit oil/gas they would have most likely had a catastrophic blowout. the rig hands were sleeping in the escape boats between shifts they were so concerned.

  28. Essex says:

    Taxation: how the sheep are shorn.
    Edward Abbey

  29. Pat says:

    Clot, that’s why it’s important to note that each one of us knows people who have been unemployed a loooong time.

    We have our own stats, and can make intuitive leaps to what will happen in ten, 15 and 20 years relative to crime, cost of capital and birthrate (labor, tax receipts).

    That’s why I love LTUE.

  30. jj says:

    I am very lucky that I do not have an excessive or exaggerated sense of self-importance, fact is I am important!!!

  31. jj says:

    So bought some shirts at Kolhs this weekend and did not iron also did a bad shave job. I am not losing my job cause I am so good looking. Lets pray to god they don’t start laying off people hung like donkeys.

    renter says:
    June 7, 2010 at 6:37 am
    http://www.nationalledger.com/ledgerpop/article_272632142.shtml

    Too good looking to work?

    Posting for John

  32. Shore Guy says:

    “They story so far of the deep-horizon sounds like a classic tale of hubris and disregard for mandated safety practices”

    I agree. The difference is the physical death toll. As faras economic toll, well, that remains to be seen.

  33. Simply Ravishing HEHEHE says:

    ‘Alarmingly Bleak’ and ‘Littered with Huge and Half-Empty Glasses’

    “After 10 years of telling the unvarnished truth to rising stars and delusional wannabes alike, American Idol judge Simon Cowell last month announced that he was calling it a day. But perhaps the popularity and success he achieved with his call-a-spade-a-spade approach has enticed others to try and do the same. Otherwise, how else to explain the fact that two mainstream media organizations have just printed articles that are so far removed from the Washington-Wall Street “it’s all good” snowjob that it’s almost as if I’m a guest on a Hollywood unreality show?”

    http://www.financialarmageddon.com/2010/06/littered-with-huge-and-halfempty-glasses.html

  34. Knifecatcher - Painhrtz says:

    Nom for the godless sort such as myself it is never to early to quote Nietzsche

  35. Shore Guy says:

    “Even G-D not spared in real estate slump”

    Naw. God is fine. It is His shiftless children wo don’t have their acts together.

  36. borat obama says:

    Firsrt

  37. borat obama says:

    Hivee fivee

  38. jj says:

    This is the real sign we have gone to pot, based on web traffic, these are the five most popular “news” stories today.

    Last week’s most popular web “news” story was girl “too hot” for citigroup.

    Victoria’s Secret Lingerie Fitting (Photos) Marisa Miller & Victoria’s Secret Lawsuit

    Kim Kardashian – Breast Confessions

    Jennifer Aniston Smart Water Ad (Photo) Sexy!

    Elin Nordegren College Bound – Rachel Uchitel Turns to Playboy

    Heidi Montag Implants Increase – Boob Job, Lip Plump for New TV Show?

  39. Libtard says:

    I hope everyone had a great weekend. Real estate related, it appears that about 1 in 20 estates are for sale along Upper Mountain Avenue in Montclair. That market is dead.

  40. jp says:

    haven’t seen a comp killer in awhile…

  41. Anon E. Moose says:

    jp[41];

    That’s because EVERY sale is a comp-killer now. Go pick one.

  42. Anon E. Moose says:

    You know the number is going to be bad when Yun plants a story apologizing for it in advance.

    From Fri. WSJ:

    May Home-Buying Activity Looks Worse Than Expected

    My questions is: Worse that WHO expected?

  43. Final Doom says:

    moose (43)-

    Try worse than the month after 9/11…or, winter 2008-09.

    It is THAT bad. I have never seen anything like this…not even close.

  44. jj says:

    One thing that might help RE next year are the new sky high income tax rates. If you actually earn above 250K it makes home ownership much more attractive than the puny 8k credit.

    Pretty much muni bonds and Mortgage deduction is all the rich folks have left

  45. Zack says:

    Waterfront Auction!!!

    What do you guys think about these property in Wildwood. I am thinking of a vacation property for purchase.

    http://www.maxspann.com/images/6-page-web.pdf

  46. Final Doom says:

    Just had a typical listing appointment experience with one of the occasional solvent homeowners I manage to encounter:

    1. Homeowner retiring to FL. Already has place there, lives there probably 6-9 months per year.

    2. Homeowner owns 4 BR, 2.5 BA NJ home outright. Taxes about $8,500.

    3. Homeowner claims he wants “quick sale at reasonable price” (this was where my “oh shit” meter should’ve fired full blast).

    4. Put together CMA that shows home is worth maybe 450K. Despite solid documentation, owner greets this news like a diagnosis of stage 5 cancer.

    5. Owner seeks out geriatric idiot of failed Realtor, who lists house today for 540K.

    Nothing good will come of any of this, and the market will be starved of yet another good, unencumbered home that could sell quickly…if only the owner understood the current reality.

    Of course, a nice, long stretch of vacancy will mean more property tax payments for the town…and a nice chunk of change for the guy who maintains the place while it’s vacant.

  47. Final Doom says:

    zack (46)-

    Wildwood sucks.

  48. jcer says:

    Zack at the right price, they could be good. Wildwood has very nice beaches but not much ambiance. Wildwood Crest isn’t the nicest town on the Jersey Shore but far from the worst, my question is what retard thought beach fron condos in wildwood priced ~ a million dollars was a workable business plan? Those things should be cheap, wildwood is, was and will always be the working mans paradise.

  49. Essex says:

    48. Big Time suck.

  50. Final Doom says:

    Great screed on Eraserhead’s embarrassing G-20 performance over the weekend:

    http://www.zerohedge.com/article/tims-gotta-go

  51. NJGator says:

    Poor – re the Adams house in Glen Ridge…realtor says it was on the market about 2 years ago or so and didn’t sell. At that time it was all purple.

    Listing at one point last week said “Delayed showings due to staging”.

    Bathrooms redone, but “updated kitchen” has cabinets that are probably at least 25 years old, with worn beige laminate countertop. When I said to the realtor “I thought this was supposed to be updated”, her response was “Sure. I guess it’s been updated after it was built.” And no way is the kitchen 20 ft long.

    Bedrooms tiny, tiny, tiny. 3rd floor “bedroom” is 10×9 and you have to walk through it to get to the 3rd floor mater bedroom/slave quarters. Also, despite the mention in the listing, there is no separate 2nd floor 10×9 den – it’s the same room as the “3rd bedroom”.

    200ft deep year is devoid of any substantial amount of grass, but they did stage a country table, chairs and table cloth outside in the middle of the yard.

    Oh and Stu, that “water damage” you thought you saw signs of in the basement…was probably this:

    http://www.baristanet.com/2008/08/test_4.php

    Can be yours for 500k.

  52. Final Doom says:

    gator (52)-

    I’m beginning to think you’re a m@sochist.

  53. Final Doom says:

    Anyone who thinks that shitbox is worth 500K needs to be whacked in the head with a shovel.

  54. Mr Hyde says:

    Doom,

    You’ll like this, germany is stepping up their game…

    From speigel:
    “Die Bundesregierung hat nach SPIEGEL-Informationen inzwischen erwidert, wenn die einstweilige Anordnung erginge, könnte dies eine “sich selbst erfüllende Erwartung auf einen Zahlungsausfall” gefährdeter EU-Staaten nach sich ziehen. Darüber hinaus betont die Regierung, der von den Mitgliedstaaten in Brüssel beschlossene Euro-Rettungspakt stelle “keine rechtsverbindliche völkerrechtliche Vereinbarung, sondern nur eine politische Absichtserklärung dar”.

    translatrion:

    “In the meantime, the German Federal Govt. further explained to Spiegel, that if the provisional order passed/came to fruition, it could in this situation lead to/cause the self fulfilling expectation of a default for the endangered EU States. Therefore and resulting from this situation the Government emphasized that for the EU member states the agreed upon Euro Rescue Pact is not a legal constitutional (“literally “people’s correct”) agreement, instead only a political agreement of intent.”

  55. Final Doom says:

    hyde (55)-

    I read some reports over the weekend that said the courts in Germany would stop their participation in any kind of EU bailout, as it’s actually illegal.

    Is that what this article references?

  56. Final Doom says:

    Personally, I think the EU is fuct whether or not Germany participates in a bailout.

  57. NJGator says:

    Doom 54 – Doom – And it was literally a shitbox not even 2 years ago! Will have to see if it sells quicker than the house with the sinking foundation that’s heading into foreclosure a block away.

  58. NJGator says:

    Yup. Things are really different in Montclair this year.

    Union makes $80,000 concession

    After weeks of negotiations with the municipality’s eight unions, only one has agreed to concessions that will keep their members’ pay frozen at 2009 levels and avoid numerous layoffs.

    Communication Workers of America Local 1040, which represents 10 percent of Montclair’s roughly 400 municipal employees, has agreed to take seven furlough days for the remainder of 2010, according to Township Manager Marc D. Dashield.

    The loss in pay from the furloughs will equal the 1 percent salary increase CWA members received for 2010, giving them essentially no pay increase from 2009, Dashield said.

    Dashield had planned to lay off six CWA members before the tentative agreement. By agreeing to the furlough days, four of those jobs will be saved, he said.

    The municipality offered a similar deal to the other unions, but has not heard back from them, Dashield said. The manager said he’s hopeful they will make similar concessions.

    “I’m assuming [the unions are] going to look at their membership and come to their own decisions,” he said.

    Patrick Ciancitto, chief steward for Office and Professional Employees International Union Local 32, said his union is awaiting word on whether Montclair will receive a waiver to exceed the state-mandated tax-levy cap.

    “All deals are off” if the municipality does not receive the waiver, Ciancitto said.

    Representatives with some of the municipality’s other unions could not be reached as of The Times’ deadline.

    The Policemen’s Benevolent Association Local 53 is currently mired in a separate contract dispute with the municipality over its 2009-2011 contract. The two sides came to a stalemate during negotiations and the dispute is now being decided by an arbitrator.

    The tentative CWA agreement was “very hard” to come to, but members were hoping to avoid most layoffs, according to Janelle Blackmon, CWA’s staff representative.

    CWA workers would not agree to the municipality’s request that they contribute 1.5 percent of their pay to their health care plans, Blackmon said. The union did not wish to incorporate that into the negotiations at this time, Blackmon said, though she acknowledged that the 1.5 percent contribution will “be a reality” in the future.

    “That 1.5 percent is far more expensive to our employees than a couple of furlough days,” she said.

    The municipality will save about $80,000 because of CWA’s concessions.

    Though that’s a small percentage of the approximately $3 million budget shortfall Montclair faces, CWA couldn’t have contributed much more, said Dashield, noting that it has only 40 members working in Montclair.

    The municipality has laid off one fulltime and six part-time employees since January, and it intends to lay off 13 more workers if other unions don’t make concessions similar to CWA’s, Dashield said.

    After weeks of negotiations with the municipality’s eight unions, only one has agreed to concessions that will keep their members’ pay frozen at 2009 levels and avoid numerous layoffs.

    Communication Workers of America Local 1040, which represents 10 percent of Montclair’s roughly 400 municipal employees, has agreed to take seven furlough days for the remainder of 2010, according to Township Manager Marc D. Dashield.

    The loss in pay from the furloughs will equal the 1 percent salary increase CWA members received for 2010, giving them essentially no pay increase from 2009, Dashield said.

    Dashield had planned to lay off six CWA members before the tentative agreement. By agreeing to the furlough days, four of those jobs will be saved, he said.

    The municipality offered a similar deal to the other unions, but has not heard back from them, Dashield said. The manager said he’s hopeful they will make similar concessions.

    “I’m assuming [the unions are] going to look at their membership and come to their own decisions,” he said.

    Patrick Ciancitto, chief steward for Office and Professional Employees International Union Local 32, said his union is awaiting word on whether Montclair will receive a waiver to exceed the state-mandated tax-levy cap.

    “All deals are off” if the municipality does not receive the waiver, Ciancitto said

    CWA workers would not agree to the municipality’s request that they contribute 1.5 percent of their pay to their health care plans, Blackmon said. The union did not wish to incorporate that into the negotiations at this time, Blackmon said, though she acknowledged that the 1.5 percent contribution will “be a reality” in the future.

    “That 1.5 percent is far more expensive to our employees than a couple of furlough days,” she said.

    http://www.northjersey.com/news/95483769_Union_makes__80_000_concession.html

  59. jj says:

    there is still gloom and doom on this site, the rest of NY/NJ is long over it. I went to a broadway play yesterday, Promises Promises, suprising good considering mixed reveiws. Play was sold out, then went to dinner at one of those pretty trendy places with $50 buck steaks and $30 dollar pastas around 8pm on Sunday night Place was packed, I had a reservation but people walking in were being told 45 minutes. Going to Mets this week, have third row seats, friend is taking me just got a new job with a 200K raise. Ten minutes ago walking past stone street it was packed, Oh yea sunday night tons of people getting off LIRR/NJ Transist from Hamptons, Fire Island, Jersey Shore, Long Beach etc. Also saw tons of people going to ball games, heck so so seats to NBA finals are going for $1,000 a ticket. Heck my summer dance card is filling up with country club invitations, parties etc.

    In fact I would argue people have much more money to spend then they did five years ago. The trade-up house is dead, leasing 100k cars to impress neighbors is dead, but middle class 200K earners in rentals or starter homes waiting out the RE bottom are getting restless and want to party.

    Now that people no longer feel need to use up 60% of income on mcmansions they have lots of free cash!!! Spend Baby Spend. It is a bull market for spending.

  60. d2b says:

    I seem to notice that the union concessions that are being negotiated seem to solve today’s problems but do not look out for tomorrow. The deals seem like band-aids on bullet wounds and don’t do anything to address health care and pension issues.
    As for Wildwood, I own a home and a business there. I would consider buying the right property in Wildwood Crest. But I’m seeing prices drop in Ocean City and Cape May. Both might be better long term options.

  61. Shore Guy says:

    “The loss in pay from the furloughs will equal the 1 percent salary increase CWA members received for 2010, giving them essentially no pay increase from 2009, Dashield said”

    Why agree to this instead of agreeing to a flat salary? Simple, it keeps the salary incrementally higher as a starting point for future negotiations.

  62. Mr Hyde says:

    Doom 56

    yes. My understanding is that it violates the Treaty of lisbon

  63. chicagofinance says:

    jj: I hear you, but I would describe what you are seeing as people are enjoying the spoils of the last 12 months. I think that the prevailing thought in September is going to be…ok..I had a good time this summer, by why the fcuk did I spend so much money? Basically, people are standing at the craps table and have just gone on a good run, but they aren’t pulling any of the chips off. You got to pocket some of the winnings. I think we are going to get a little mini-shite super storm. A good hard baseball bat to the stomach, but just one…though it will hurt.

    jj says:
    June 7, 2010 at 1:03 pm
    there is still gloom and doom on this site, the rest of NY/NJ is long over it.

  64. Mr Hyde says:

    Shore 62,

    The unions are truly first class parasites intent on killing the host then consuming the corpse.

  65. Shore Guy says:

    d2b,

    It is not up to the Unions to fix the problems in NJ; that is Management’s job. As for Management developing the spine to take actions to reduce costs, not just slow the rate of increase, I would not hold my breath.

    For every homeowner who gets pi$$ed off and sells their home in order to find lower takes, there is a buyer, thus the “customers” may have changed but the number of customers has not. It is not like a store that overcharges, and loses customers.

  66. NJGator says:

    Shore 62 – I am sure that future negotiations will go swell too, with unions that view 1.5% concessions as “expensive”.

    I also noticed that the CWA gave an 80k concession and the town will now lay off 4 less people. Typical Montclair government to negotiate a “deal” that puts us even more in the hole.

  67. A.West says:

    Comrade, (19)
    I disagree. JJ is an egotist, not an egoist.
    See “The Fountainhead” for an explanation of the difference.

  68. NJGator says:

    Some more musings from the one sane councilor in our town. Makes me want to start drinking right now.

    Regarding the resistance to increasing the pool fees:

    “Although we have a program to subside pool and other fees for those unable to afford them, and the program is actively being used, “some” are worried that in the act of applying for the aid the applicant would be embarrassed and we don’t want them to be embarrassed.

    I am not making this up. It’s on the public record.”

    Regarding firing people and outsourcing:

    “There is an enormous concern on the part of both the elected officials, as well as township management, for the employees.

    I’m fortunate.

    I worked for Fortune 500 companies and I had P&L responsibility. I fired people.

    We are resisting reorganization because of the effect on our employees. We are resisting outsourcing because of the effect on people.

    In fact, when the topic of our outsourcing maintenance at Edgemont Park, a move that saves over half the money being spent, I was asked “well, shouldn’t we discontinue outsourcing because we’re considering laying people off and if we didn’t have outsourcing we’d employ those people instead?””

    On the inability of the Mayor and the rest of the Councilor to understand basic math:

    “Next time I run for office I’m going to insist that team members show both an interest, and competence, “in numbers.”

    Although Montclair, or any town, is more than “finances” our lack of interest in, or understanding of, finances is frightening.

    When the Capital Finance Committee issued its dire warnings of $240MM in debt people’s response was to disbelieve the Committee and some members of the Council are still asking for the Committee’s dissolution claiming “no one asked them.” Mind you, this reporting from the Committee is EXACTLY what the Resolution establishing the Committee asked for.

    The Senior Center fiasco was just one example. When the new Town Manager was asked for his opinion of that Center his only comment was, simply “we have no money. we cannot afford another $300K in annually operating expenses when we have to cut $3MM just to achieve a 10% tax increase.”

    We are now seeking a waiver, which will require $1.5MM in cuts just to get us down to about 10% for a Municipal tax increase. That’s a little under 6% increase, total.

    We don’t know IF we’re going to be able to cut the $1.5MM yet that’s the number in our waiver application.

    And remember, when the Montclair Times suggests “only” a $414 increase in the average taxpayer’s bill, that’s JUST for the Municipality! There’s a larger dollar amount for the schools, and an amount for the County. Perhaps $1,000 overall.

    I am asking for significant cuts.

    It is difficult to imagine this will happen. While interest groups do come out for the library (and they are really good at this), or similar, the police and fire have managed to create a “protected” class that even the manager is reluctant to challenge.”

    On the inability of the council to tackle any issue remotely challenging:

    “There’s a lot of personal agenda stuff going on in the Council. One Councilor in particular is very concerned about overnight parking. She also introduced an ordinance making it impossible for trucks, under any circumstances, to park overnight. Even though we already had a ban on overnight parking unless the owner of the vehicle bought a single use permit.

    I thought that the special ordinance was, well, dumb. In my neighborhood I’ve seen it happen more than once that folks will be moving cross country and it takes the movers more than one day to load. No one ever complained about a truck staying on the street overnight. Now he can’t. Ditto a multi day film shoot. I asked “what is the guy supposed to do with his truck?” and the answer was “too bad.”

    Here’s an observation in general for us to think about:

    Montclair has a myriad of really difficult problems. Cutting $2MM from the budget, finding new significant ratables (and renting 400 square feet to the Chinese so some of our creativity and innovation will rub off on them is not a significant ratable), our schools.

    Since these are difficult problems, we spend little or no time on them.

    Then there are problems like overnight truck parking, or whether a BYOB restaurant with Outdoor Cafe approval can allow BYOB drinking. Or last week, how many neon signs in a window are “too much.”

    Now these problems are ones we can debate, pass legislation, and really make it seem we are making progress. So it is these problems we work on.

    Not the budget, not debt, not South Park pedestrian “mall,” not attacking the tax appeal challenge by reappraising the town, not anything “difficult.””

  69. Al "Fat Thumbery" Gore says:

    JP Morgan cant keep bullion down forever. Class action law suits on the way.

  70. jj says:

    I thought everyone always thought highly of me already.

    BTW chifi, I am out of margin, only own bonds outright no more than 5% in any one issue and can hold to maturity.

    I actually can’t wait for rising rates. Kinda nice to roll one year cds for a few years instead of managing looking for yield in a low yield environment. Plus I would love 8-10% mortgage loans!!!

    No one I know is spending their savings, they are only spending a higher % of their paycheck. I usually save 50% of my pay, but lately I have been going wild and saving only 30%. A mini shit storm would be good, as I had plans to redo my old mercedes and had a good price during last shit storm but did not pull trigger, next shit storm when guy is slow he can do my car. I love shit storm s.

    Ambac will be a close call, but I am betting on that 8-1-10 interest payment and looking forward to drinks.

    chicagofinance says:
    June 7, 2010 at 1:12 pm
    jj: I hear you, but I would describe what you are seeing as people are enjoying the spoils of the last 12 months. I think that the prevailing thought in September is going to be…ok..I had a good time this summer, by why the fcuk did I spend so much money? Basically, people are standing at the craps table and have just gone on a good run, but they aren’t pulling any of the chips off. You got to pocket some of the winnings. I think we are going to get a little mini-shite super storm. A good hard baseball bat to the stomach, but just one…though it will hurt.

  71. Barbara says:

    71. wow I missed that news story. Go back to Germany? Is she that hateful or going senile? I had a relative that got a little uncharacteristically “ugly” in their old age. Sad way to end a career. I kind of thought she had been losing it for a few years but was like a cuddly press darling that everyone liked to get all “awe, shucks” over. Die young, stay pretty.

  72. Final Doom says:

    The closer we get to midterm elections, the more I think that this country is about to implode: politically, financially and culturally.

    We are on the brink of complete collapse, and virtually no one I encounter on a daily basis has even a shred of an inkling.

  73. Libtard says:

    Can we NOT return to solving the Palestinian-Israeli conflict on this blog. We don’t need another, ‘they’ll get over it’ comment from the 4th reich.

  74. Final Doom says:

    The only scum worse than politicians are those that cover them.

    My take is that as Bojangles continues to try and re-make the US into a European-style welfare state, one of the unfortunate by-products we’re going to get is European-style anti-Semitism.

  75. Libtard says:

    “We are on the brink of complete collapse, and virtually no one I encounter on a daily basis has even a shred of an inkling.”

    I know. Isn’t it great!

  76. Barbara says:

    Final Doom, redneck antisemitism has always been a given here, its intellectual antisemitism that changes the game. Agree with the European stylings.

  77. Confused in NJ says:

    On May 27, 2010, outside a White House Jewish heritage event, Rabbi David Nesenoff asked if Thomas had any comments on Israel. Thomas replied, “Tell them to get the hell out of Palestine,”[12] and added that the people are under occupation. Asked where they should go she replied that “they should go home” to Poland, Germany, America and “everywhere else”.[13][14] Thomas subsequently issued an apology on her personal web site.[14][15][16] On June 6, Thomas’s agency, Nine Speakers, Inc., announced that they had dropped her as a client, due to her remarks.[17][18] Craig Crawford, who co-authored “Listen up, Mr. President”, said that he “will no longer be working with Helen on our book projects”.[19] Other fallout from Thomas’ statements include a rebuke from the White House[20] and cancellation of a commencement speech she was to give at Walt Whitman High School in Bethesda, Maryland.[21] On June 7, 2010, Thomas tendered her immediate resignation from Hearst Newspapers and entered into retirement.

    Interesting that 20 words misspoken, can destroy a 60 plus year career? In my day the catch phrase “sticks and stones can break my bones, but names can never hurt me”, stopped things from getting to that point. I guess people had much thicker skin.

  78. sas3 says:

    Barb, Europeans seem to hate Muslims more… They screwed people from both religions and they are just on the sidelines watching the fight.

  79. Barbara says:

    sas3
    given a simple reading of 20th century world history, I can’t agree…

  80. Al "Fat Thumbery" Gore says:

    Norman Finkelstein, a Jewish American political scientist and author, specializing in Jewish-related issues and the Israeli-Palestinian conflict was invited to give a speech at the University of Waterloo in which a Jewish girl threw the Holocaust card to criticise him.

    http://www.youtube.com/watch?v=A5drXEXkf9s&feature=player_embedded#!

  81. jj says:

    I thought it was a holocaust ring not a holocost card?

    You mean they got rings and cards?

  82. sas3 says:

    Barb, what about recent/current climate?

    Al #82… Wow!

  83. Final Doom says:

    Al (82)-

    Is this meant to demonstrate your skills at locating videos of self-loathing Jews?

  84. Mr Hyde says:

    Chifi,

    Is this the bat to the stomach you had in mind?

    Gaza blockade: Iran offers escort to next aid convoy
    http://www.guardian.co.uk/world/2010/jun/06/gaza-blockade-iran-aid-convoy

    It could be a good way to start WWIII

  85. Libtard says:

    Al,

    You might be somewhat convincing if all of your posts had a thread of truth in them. Time to don the robes I suppose? Sieg Heil!!!

    “His writings, noted for their support of the Palestinian cause[2] have dealt with politically-charged topics such as Zionism, the demographic history of Palestine and his allegations of the existence of a “Holocaust Industry” that exploits the memory of the Holocaust to further Israeli and financial interests.”

  86. sas3 says:

    jj — you can move to Baker, Missouri, and can bump it up to top place, right away.

  87. Final Doom says:

    Yeah. Let the Palestinians get arms, money and materials so they can launch more rockets and mount more suicide attacks against Israel. They’ve always demonstrated how trustworthy they are.

    Just look at that shining light of humanity, Yasser Arafat.

  88. Shore Guy says:

    Sastry,

    Did you ever see the post in which I provided you with the name of the deer spray?

  89. Libtard says:

    World War Three ain’t gonna start over an Israeli blockade.

  90. Final Doom says:

    All those mosques and schools that teach and pray non-stop for the elimination of Israel…just ignore those. They don’t mean it; it’s just symbolic.

  91. freedy says:

    can we call him bojangles and get away with it ?

  92. Shore Guy says:

    Israel,

    Having the ability to use air superiority, would make short work of the Iranian Navy.

  93. Simply Ravishing HEHEHE says:

    “The closer we get to midterm elections, the more I think that this country is about to implode: politically, financially and culturally.”

    Culturally? What’s there to implode from culturally? If we imploded we may end up higher culturally. I might even get a ceasar salad that has f’g anchovies in it instead of an anchovie-esque flavored dressing that is tolerable to the middle american homogeneous palate.

  94. Libtard says:

    Al,

    How much money have you sent in to Hal Turner?

  95. Final Doom says:

    freedy (94)-

    Why not? He’s GWB in blackface.

  96. Shore Guy says:

    Stu,

    While I trust that you are probably right, it is just this sort of thing that leads to runaway actions that result in full-scale wars.

  97. Libtard says:

    Don’t worry Clot. Israel will get over it.

  98. jj says:

    I should do it!! Easy to be number one in a town with 5 people.

    sas3 says:
    June 7, 2010 at 2:29 pm
    jj — you can move to Baker, Missouri, and can bump it up to top place, right away.

  99. Final Doom says:

    HE (96)-

    What’s wrong with 15-20 chemical flavorings + hydrogenated oil held in suspension with guar gum?

    You are right. Our culture hit the trailer park level in about 1982. Since then, it’s been a slow decline toward the Cro-Magnon era.

  100. jj says:

    The Catholics would have first dibs on Israel.

  101. Shore Guy says:

    ” had the sense to resign.”

    resigned mu @ss. It was a face-saving move, I suspect.

  102. Final Doom says:

    shore (99)-

    Good. We need to get to work pronto on shaving a billion or so off the planet.

    “it is just this sort of thing that leads to runaway actions that result in full-scale wars.”

  103. Libtard says:

    World War three will be the West vs. Islam (countries that support radical Islam that is). It won’t be about Israel. Israel is just the convenient neighborhood scape goat. It’s really us they are after. Notice that they didn’t fly commercial planes into Israel. I wonder why?

  104. Juice Box says:

    Did you folks know that Farmville is coming out on iPhone V4 next month and the new iPhone will have a gyroscope and a front facing camera too?

    You can easily land a 747 with the new iPhone while cultivating your virtual farm and easily make a video call home to dear old mom using the iPhone’s front facing camera.

    What will they think of next?

  105. Final Doom says:

    I went to HS with one of the kids from the Baker family that founded (and pretty much owns) that whole county.

    It’s the same Baker family that founded Baker Furniture.

    The kid was a queen, and he came out during an assembly. Pretty gutsy for 1976.

  106. Final Doom says:

    Wake me up when an IPhone can shoot .223.

  107. sas3 says:

    Shore #91… sorry, missed the post. Too busy searching the internet for a solution for peace in middle east :)

    Couldn’t get your post from Google search. The one I bought (it is sitting idle) has some eggs in it — supposed to smell really bad. I forgot the brand (most likely liquid fence). Can you post the brand name here, please?

    For future, please get my email from Grim. I think Gator, Nom, and Doom may also have my emails.

  108. sas3 says:

    Lib, so if EU criticizes Israel about the flotilla and also ban mulsim minarets or dress codes, which side are they going to fight in WWIII?

    I think you are oversimplifying a geopolitical issue with some religious cr@p.

  109. Barbara says:

    111.
    the thing is, Europe lost ALL credibility on all jewish/israeli affairs after that whole WW2 dust up. Some mistakes were built to last.

  110. Mr Hyde says:

    Stu,

    I’m sure isreal could handle a few iranian escort ships, but that is the sort of action that sparks escalating actions ending in a major regional conflict. I.E. isreal fires on escort ships, iran lobs ballistic missiles at isreal, next thing you know nukes get involved….

    Just like duke Ferdinand. Its wasnt the duke per se, but the associated escalating actions that ignited the war.

  111. sas3 says:

    WWIII will be neighbors killing neighbors over food and water.

  112. sas3 says:

    barb, unfortunately, they haven’t paid much — one thing they can do is to simply cede some big chunks of land and give it to the palestians (muslims and christians), so the middle east problem becomes less severe. Of course, it addresses only the monetary aspects — not cultural or religious aspects. But, all religions are controlled by top people and those people always have a reasonable price :)

  113. Essex says:

    78. Weird thing though, when I lived in the redneck belt I was treated really well! believe it or not. More of a curiousity than anything else. People always refered to me as ‘chosen’, I just smiled and quietly passed wind.

  114. Essex says:

    When I took my first trip to the holy land I was asked to show the slides (dating myself here!) to my high school classmates in history class. People loved it. Really was too cool.

  115. Barbara says:

    sas3,
    muslims want jews dead and gone.

  116. Libtard says:

    No religious cr@p here sas3, although Jews often do seem to take the hit so frequently.

    Here is the issue in a nutshell.

    Hitler and the rest of Eastern Europe (and some of Western Europe too) hopped on board the kill the Jew train in the 30s and 40s. Half of our population was eliminated. Feeling shame (perhaps), the victors of the war gave the Jews Palestine. Lord knows, none of these countries wanted the influx of the remaining Jews in Europe (scum in most of their eyes) to integrate into their cultures. The Palestinians in Israel at the time were mostly nomadic herders and farmers and were few and far between. There were some fanatical Jews already kibbutzing there as well. The Israeli’s tried to foster peace with the Palestinians and there are many cities in the north where Jews and Palestinians live and work together. The problem is in the camps in the south. I feel for this group as their living conditions blow. Israel and the West gave tons of money to Yasser and his PLO and the douchebag just squandered it. They also made some great peace arrangements that Yasser stupidly failed to accept. Now Hamas is in the equation (Hamas ain’t that different than Al Queda) and Israel is rightfully fearful of their security. All the meanwhile, giving lots of aid to the refugee camps.

    I do hope Israel lowers the blockade and lets aid (infused with missiles in). Then they can offer the rest of the western world to take in these refugees when the missiles get flying, before they choose to steam roll their camps.

    So who is at fault here?

    I would blame the victors of World War II and not Israel. It’s only the haters who blame the Jews and the Zionists.

  117. Barbara says:

    Essex, having been raised in a Bob Jones Uni satellite church, I can tell you that there is no love for the jewish people amongst the fundy rednecks. They just like the role jews play in prophecy. “Curiousity” is about right, don’t be too flattered.

  118. sas3 says:

    Barb #118, I bet a major chunk of Indian Muslims don’t even know much about Israel. And India has the second most number of muslims. I doubt Indonesians have any major opinion on the Palestinian matter too. These type of oversimplifications [“all X are evil”] by normal people facilitate riots and sometimes assist genocides.

    S

  119. jj says:

    Actually Bob Jones is not really racist. There pet peave is there should be no interacial or interreligion dating or marrying.

    There college lost all Federal funding over that. Meanwhile in most of world and most parents would agree with that, except not PSL to say out loud.

  120. sas3 says:

    I blame the British… They pulled a stunt in India — they offered each small region to decide what country they’d want to belong to [India vs Pakistan]. One territory in South India [landlocked for hundreds of miles with Indian areas] wanted to join Pakistan — (military) persuation helped.

    Kashmir was ambivalent, and till this day there are problems. Also, US supported the Muslim terrorists in Afghanistan that then went on to Kashmir. Only after 9/11 did India’s complaints on the matter were heard.

  121. freedy says:

    seems to be Mr. Bojangles/the Kenyan better
    start talking up the markets, otherwise, now what?

  122. Barbara says:

    jj.
    bob jones sr was a segregationist and KKK supporter.

  123. sas3 says:

    Lib #119… Corrupt leaders can be a good thing during negotiations. Of course, they can stink up everything at times. Way better than some ideologically driven leaders.

  124. Simply Ravishing HEHEHE says:

    S&P back at 1050, busts lower look out below.

  125. Simply Ravishing HEHEHE says:

    BTW, consumer credit report is another t*rd. Small uptick in non-revolving (mortages) another drop in revolving (credit cards).

    http://www.federalreserve.gov/releases/g19/Current/

    Joe Six Pack ain’t spending!

  126. Against The Grain says:

    “Wake me up when an IPhone can shoot .223.”

    Right Here:
    http://cache.gawkerassets.com/assets/images/4/2010/05/iphone_revolver_case.jpg

  127. Mr Wantanapolous says:

    JJ [60],

    Mrs Wantanabe? She’s now long the yen, short the Euro. Then again, it could be all the rich Europeans?

  128. Mr Wantanapolous says:

    JJ,

    Another great bubble call in Dec 2009. Do you trade it like you call it? Ouch.

  129. Shore Guy says:

    Sastry,

    That is it, Liquid Fence. The stuffbis vile. If you have a tyvek painting suit, wear it when you spray. If you have an organic respirator, I would go for it as well. We have LOTS of vegitation at out main plave and LOTS of deer. The stuff works and only stinks until dry.

    But, you don’t want it on your clothes.

  130. d2b says:

    Sas3,
    I don’t have a dog in this fight. But there are 26 Arab states and can’t Palestine have a slice of their land?

    Stu:
    Last week you mentioned that the border between Egypt and Gaza is blocked by the Egyptians. I think that it is monitored by the EU. How come emergency supplies can not come through that border?

  131. Final Doom says:

    sx (116)-

    Many Southern fundies have a lot of respect for Jews. That whole “God’s chosen” thing has a lot of resonance with them.

    You don’t cross God’s chosen. He will not forsake them.

  132. Final Doom says:

    Market taking a dump.

    Die, market, die!!!!!!

  133. freedy says:

    what happened to the ppt team today and friday? this can’t continue . how are people
    going to buy real estate with markets falling

  134. Final Doom says:

    BC (131)-

    Don’t distract JJ. He’s praying for his Ambac coupon.

  135. sas3 says:

    d2b,

    I think the people that will lose the most if there is middle east peace are the Arab rulers. They use the plight of Palestinians as a diversion. The rulers are like some divorce attorneys or management consultants — why fix the problem when you can milk it for the long haul? 1.5 million people is a drop in the bucket if many countries [including EU] pitch in.

    Now, it would be interesting if the 1.5 million are offered a land in the middle of some other population center and … the current residents get kicked out … wheels on the bus.

    S

  136. webb says:

    119 Nutshell has it about right. Regardless, the die is cast. Demographics, appeasement; Israel is gone in the long run. History is no longer on Israel’s side and it will be a slow unwinding. They overplayed their hand and support is slowly eroding as Obama is an example. What could Israel possibly do in the coming years that would assure their survival? btw the so called deal offered the Palestinians was a non starter and they were right to reject the absurd conditions – hardly an opportunity lost for them. They will get it all eventually.

  137. sas3 says:

    Shore, thanks for the tip on the clothes. I’d have gone out with a mask and ended up with some of the stuff on my clothes!

  138. Simply Ravishing HEHEHE says:

    S&P took out the Feb low.

  139. Shore Guy says:

    Sastry,

    Saudi Arabia is currently about wher Iran was in 1976. I was recently talking with an editor at a major news organization and mentioned that to him/her and he/she said it would make an interesting piece. I said “you guys should do it.” and he/she said “we don’t have the money to do that sort of thing any more.”

    It is sad.

  140. Final Doom says:

    Gottendammerung.

    “The problem, as David Rosenberg points out in his letter from today, is that due to the short maturity profile of government paper, an all out attempt to reflate will certainly lead to that most expected black swan of all – a failed bond auction, absent fully-blown debt monetization. It would also have various other unpleasant side effects, such as a complete eventual collapse of the economy, which is the second backstop reason why gold will likely continue going higher, despite numerous risky-asset liquidation episodes still to come.”

    http://www.zerohedge.com/article/why-ongoing-push-inflate-debt-overhang-fed-suicidal

  141. jj says:

    I only buy winners!!! Actually in Ambac I bought a 5k piece for $2,500 just to prove chifi wrong. It is worth it just for the cold beer. Ford, Kodak, HIG, AIG, GMAC, Citi – I went big into and that all paid off a ton. This is my fun bet.

    I actually called this bond bubble, when was the last time I reocmended a bond. Bonds are different than stocks as long as I am not in margin and can hold to maturity I really don’t care about downturns, I have my income stream to buy more. I am amazed though at how long short term rates have been low. Looks like not till 2011 we may see some tighening

    Mr Wantanapolous says:
    June 7, 2010 at 3:45 pm
    JJ,

    Another great bubble call in Dec 2009. Do you trade it like you call it? Ouch.

  142. sas3 says:

    Webb,

    “they will get it all…”? I presume you mean all of West Bank and Gaza (it is possible but tough. Israel will extract some concessions).

    Long run, we never know what happens. Humans are vile creatures. May be Jews and Muslims become best buddies and fight some other religion?

    S

  143. make money says:

    DOW 9816
    Shiny 1243
    Ratio 7.897023331

    We got to a 7 handle today. How long before we see 5?

  144. webb says:

    145
    No I mean they will get it all – Israel is gone as a country in the long run. Without U.S. dollars there will be a point, outside of the “diehards” – where the relatively affluent, educated Jews/Israelis will recognize its not worth dying for given the alternatives and opportunity the U.S. for example offers.

  145. sas3 says:

    Shore, think Iran may be able to exploit populist anger in Middle East? Shia Crescent?

  146. Essex says:

    120. I dunno it worked for me. Several times!

  147. Essex says:

    I also don’t really care if people do hate me…..cause chances are I’m probably not too crazy about them. I used Doom’s parking lot quip regarding the Arab world today and got a hearty laugh frommy dad!

  148. sas3 says:

    Webb,

    I think long term there will be peace in Israel + WB + Gaza — with Jews, Arabs, and Christians coexisting with equal rights.

    West vs Islam in 22nd century will be as boring as US vs USSR wars now.

    S

  149. Mr Wantanapolous says:

    JJ [144],

    Was talking about your 8th bubble call in gold back in Dec.. One of these days you’ll be right, maybe in 2016?

  150. Brian says:

    Frequent lurker, rarely post but this quote from CNBC Asia seems to be right up the alley of a few regular posters here…

    ““I don’t want to scare anyone but I am considering investing in barbed wire and guns, things are not looking good and rates are heading higher,” he said.

  151. Brian says:

    oops – link here – http://www.cnbc.com/id/37549417 – Sr. MD Evercore Partners…

  152. Barbara says:

    22nd century. Cool, just gotta wait it out.

  153. meter says:

    @150 –

    You and your dad sound like really good people. Today I overheard a couple of guys on the train joking about how the holocaust was a missed opportunity and boy did they find that a hoot.

    Sounds like you’d all get along what with the whole ‘wishing a whole race of people dead’ thing in common.

  154. webb says:

    151
    Unfortunately there hasn’t been peace for 21 centuries – hard to imagine number 22 will be different. It may well be that the only hope we have is that borders and religions diminish in their respective roles and allegiances to corporations are the new power – its headed that way. There are corporations whose powers cross borders and systems with their only obligation to its shareholders and profit. If you behave you they allow you to work for them.

  155. tunoinca says:

    there are surprisingly many fundamentalists in eastern CT, too, where I grew up. my mom (an atheist Congregationalist) always makes a big point to distinguish between NORTHERN Baptists (tolerable) and SOUTHERN Baptists (icky-poo, pictures on the wall of sinners burning in hell). yes, there are Southern Baptists in CT.

    however, she and my Dad hired Biddie, a fundamentalist and Nice Lady who looks like an older Dolly Parton, to help take care of my grandparents when they were near the end. Biddie explained to us how much she loved her husband’s Jewish doctor, who had saved him in has fight against prostate cancer. And that she and the members of her congregation prayed frequently that he would discover the love of Jesus.

    Biddie, I would say, is pretty typical.

    If I were Jewish I wouldn’t be afraid of rural whites. I would just find them massively annoying.

  156. webb says:

    151
    Unfortunately there hasn’t been peace for 21 centuries – hard to imagine number 22 will be different. It may well be that the only hope we have is that borders and religions diminish in their respective roles and allegiances to corporations are the new power – its headed that way. There are corporations whose powers cross borders and systems with their only obligation to its shareholders and profit. If you behave they allow you to work for them.

  157. yo'me says:

    When it rain,it pours!

    4:39pBREAKING

    Oil well explodes near Dallas, hurts 6: report

  158. sas3 says:

    tunoinca:

    The differences between northern vs southern racism is exaggerated. There’s this joke:

    http://www.jokebuddha.com/Racist/recent/3

    What is the difference between Northern and Southern racism?
    A southern racist doesn’t mind blacks living nearby, as long as they
    don’t get “uppity.”
    A northern racist doesn’t mind blacks getting “uppity” as long as they
    don’t live close.

  159. Al "Fat Thumbery" Gore says:

    DALLAS – A gas well explosion in North Texas is sending enormous flames and plumes of smoke into the sky.

    http://www.myfoxdfw.com/dpp/news/060710-North-Texas-Gas-Well-Explosion

  160. jcer says:

    I don’t really know about peace, but I don’t think Israel is going anywhere. It has religious significance that is being greatly discounted when Webb thinks they’ll all pack up and leave. People are usually pretty attached to their homeland and religious ties make people more willing to die to protect it.

    Sas3 I think the muslim conflict will be around for a while, there seems to be some serious hatred. Also my argument against the muslim faith is there has been a real lack of self policing, people aren’t reporting suspected terrorist activity. The Catholics currently have this issue with child molestation as well. Religious organizations should be held accountable as they claim to be moral. This does not mean all muslims condone terrorism or all catholics condone child abuse. What it means is, as a community they need to take a real stand on abuses and go after “there own” with more vigilance than if it was an outsider.

    As for Israel, it was created because the UK didn’t want any more Jews moving in. For Jewish refugees the options were UK, or US, communism was not attractive, Germany, France and Italy didn’t really want the Jews(and there was a lot of damage from the war) and many Poles, wrongly, blamed the large Population of Jews in Poland for what happened to them in WWII, thus ending 4 centuries of generally(by the standards of the time, incidents being isolated) peaceful coexistence. The UK and US i.e allied powers were sympathetic to the plight of the Jews but still did not want them in their country.

  161. jj says:

    I still don’t get gold. It is a hedge, not a purchase. Plus it pays no dividend or interest. Plus I am up 300% on a lot of stuff I have, gold moves to slow for me.

    Mr Wantanapolous says:
    June 7, 2010 at 4:29 pm
    JJ [144],

    Was talking about your 8th bubble call in gold back in Dec.. One of these days you’ll be right, maybe in 2016?

  162. webb says:

    Israel has religious significance? – There is a sense of “Jewish identity” but increasingly few are willing to die for it. Religion offers them nothing if their existence is threatened. Israel is gone in the long run because of the earthly alternatives available. Israel is gone in the long run and the writing is on the wall. They’re on the wrong side of history. (The weren’t – but are now)

  163. Essex says:

    166. Webb…..puleaze.

  164. Essex says:

    156. I didn’t start the fire.

  165. webb says:

    167

    By God your right – I meant to say want “religious significance” does Israel offer that could not be offered under a different regime?

  166. jmacdaddio says:

    Looks like even Real Housewives can get in over their heads… couldn’t resist

    http://www.nj.com/entertainment/celebrities/index.ssf/2010/06/real_housewives_of_new_jersey_57.html

  167. Essex says:

    A different regime to an Arab in like 4th century. Bunch of f*cking ingrates.

  168. Barbara says:

    163.
    ChiFi
    I will when you will! I’m assuming that’s you on the right, you should see someone about the gynecomastia.

    http://www.youtube.com/watch?v=ckA0s8wH5xo

  169. tunoinca says:

    #164: *many Poles, wrongly, blamed the large Population of Jews in Poland for what happened to them in WWII*

    there were pograms in Poland *after* WWII. according to my husband, a WWII history obsessive. so sweet, to return “home” from the camps, to be killed by your neighbors.

    Israel has huge religions significance for *christians,* who, I imagine, would require little incentive to engage in a new series of Crusades.

    #145 SAS – “Long run, we never know what happens. Humans are vile creatures. May be Jews and Muslims become best buddies and fight some other religion?”

    exactly the right mechanism. according the the social scientists, the only way you can get two groups that hate each other, to get along, is to give them a common enemy. but I’d bet on Jews and Christians vs. Muslims.

  170. Final Doom says:

    (170)-

    How’d they get that cow into a miniskirt?

  171. Final Doom says:

    tuna (173)-

    My FIL, his dad and a brother survived Auschwitz.

    When they were liberated, they all walked back to their village in Poland…where Catholics immediately killed his dad and brother.

  172. Barbara says:

    170.
    Time for debtors prison and a new reality show : “The Guidas of Cell Block H”

  173. freedy says:

    Elton sang at Rush’s wedding . What’s next?

  174. Al "Fat Thumbery" Gore says:

    Iranian President Mahmoud Ahmadinejad arrives in Istanbul to participate in an Asian security summit in Turkey as part of a three-nation tour.

    “President Ahmadinejad was welcomed by the Turkish officials and Iran’s Ambassador to Turkey Bahman Hosseinpour upon arrival at the airport on Monday.

    President Ahmadinejad, who heads a high ranking delegation, will attend a security summit in Istanbul dubbed the Conference on Interaction and Confidence-Building Measures in Asia (CICA).

    Russian Prime Minister Vladimir Putin, Afghan President Hamid Karzai, Kazakh President Nursultan Nazarbayev and Acting Palestinian Authority Chief Mahmoud Abbas are among the other top diplomats attending the summit.”
    http://www.presstv.com/detail.aspx?id=129407&sectionid=351020101

    Im thinking Putin is not too happy about the CIA’s drug running out of Afghanistan. I wonder what SAS thinks.

  175. grim says:

    there were pograms in Poland *after* WWII. according to my husband, a WWII history obsessive. so sweet, to return “home” from the camps, to be killed by your neighbors.

    Unfortunately there were.

    One of the most significant of these was triggered by a young boy who told a lie after being questioned by his father. He had left town to go visit/play with friends, and had told his father he was kidnapped by jews.

    Bloody violence erupted.

    9 of the 12 poles who took place in the Kielce pogrom were put to death for their crimes.

  176. Shore Guy says:

    More details of the deadbeat nj wives couple’s income and debts.

    http://www.nypost.com/p/news/local/deadbeat_reality_8f3qwDPV2oY8s9N51fL82I

    This is a tragedy and the government MUST do everything it can to keep them in ther home, well, all of them.

  177. Fabius Maximus says:

    #170

    You have to give the Taylor Ham Barbie some credit. 10Mil BK of which 2Mil is FK.

    I have to use the pun that their lifestyle was “All Stucco, No Brick”

  178. Shore Guy says:

    It is only fair.

  179. Barbara says:

    177.
    more evidence of the self promoting, insincere button pushing business model of American punditry.

  180. reinvestor101 says:

    WHAT THE HELL IS GOING ON? THE DAMN STOCK MARKET HAS LOST DAMN NEAR 500 DAMN POINTS OVER THE PAST TWO DAMN DAYS This is a bunch of bullspit. This is NOT supposed to happen. If the damn terrorists infect the damn stock market, how in the hell is money going to get made? What? Work for it? Look, smartass, that is MY DAMN WORK just like real estate flipping is my damn work and you smartass terrorists have taken away my damn work.

    You commies and terrorists are going to catch hell. The investors of America are gearing up for a pogrom against each and every negative naysayer, gold hoarder and real estate terrorist that exists. You don’t mess with someone’s damn money.

  181. Shore Guy says:

    “think Iran may be able to exploit populist anger in Middle East?”

    Who knows. Of course, Iranian’s are not Arabs, and Farsi is not Arabic, and there is also that general contempt of Shiites. So, who can tell. The bottom line is that most of the Arab states could blow apart with a little stimulus and they have little ability to take it to Israel. With its back against the wall, I suspect Israel would be more willing than Harry Truman to use a weapon that could end hostilities — at least use it against Syria and other states to the east. Unleashing special weapons in northern Egypt would pose problems for the Israeli public itself, but, if push came to
    shove….

    The Arab states can only push so hard before they incite their own population to destroy themselves. And, military options are: 1) lose a conventional war to Israel or 2) be on the verge of winning a conventional war with Israel, only to end up being immolated.

  182. Mr Wantanapolous says:

    50.5,

    Stop chirping, on rallies buy SDS.

  183. Essex says:

    184. Oh nooooooes! The stock market never goes dooooowwwnnn! Houses never lose value!!!!

  184. meter says:

    “The Arab states can only push so hard before they incite their own population to destroy themselves. And, military options are: 1) lose a conventional war to Israel or 2) be on the verge of winning a conventional war with Israel, only to end up being immolated.”

    Pretty sure your game theory changes once Iran goes nuclear. It already may be.

    On a related note, have you figured out Masada yet?

  185. Yikes says:

    jj says:
    June 7, 2010 at 1:03 pm

    there is still gloom and doom on this site, the rest of NY/NJ is long over it. I went to a broadway play yesterday, Promises Promises, suprising good considering mixed reveiws. Play was sold out, then went to dinner at one of those pretty trendy places with $50 buck steaks and $30 dollar pastas around 8pm on Sunday night Place was packed, I had a reservation but people walking in were being told 45 minutes. Going to Mets this week, have third row seats, friend is taking me just got a new job with a 200K raise. Ten minutes ago walking past stone street it was packed, Oh yea sunday night tons of people getting off LIRR/NJ Transist from Hamptons, Fire Island, Jersey Shore, Long Beach etc. Also saw tons of people going to ball games, heck so so seats to NBA finals are going for $1,000 a ticket. Heck my summer dance card is filling up with country club invitations, parties etc.

    In fact I would argue people have much more money to spend then they did five years ago. The trade-up house is dead, leasing 100k cars to impress neighbors is dead, but middle class 200K earners in rentals or starter homes waiting out the RE bottom are getting restless and want to party.

    Now that people no longer feel need to use up 60% of income on mcmansions they have lots of free cash!!! Spend Baby Spend. It is a bull market for spending.

    this subset represents maybe .05 % of the nation’s population.

    so it means nothing. except that maybe everyone knows who the ballers are and now they are targets.

  186. Shore Guy says:

    “Masada”

    I am well versed in Massada. Unfortunately, you missed the greater point in my allusion.

  187. dan says:

    John,

    How come you and all your buddies aren’t buying all the Yankee tickets behind home plate and why aren’t the Jets PSLs sold out.

  188. Shore Guy says:

    “It already may be.”

    Nope. I seriously doubt it. They may have enriched enough material and may be capable of producing a radiological weapon but, were they to have already produced a warhead they would have tested it. Either in the desert or aboard a container ship off Haifa, Tel Aviv, or Ashdod.

    I suspect the container ship will be their first test, if they go with a shotgun weapon. It is less dependent on tight tolerances found in implosion devices.

    They are far less efficient but, for making a point, they make a point.

    Were Iran to do a traditional underground test, the world would instantly know. I suspect the next moment either the Israeli Strike package would be airborne and hugging the Turkish Border on its way to Iran. Either that or Jericho missiles will be flying from Zakaria.

    Israel cannot long survive with a nuclear-armed Iran, I suspect.

  189. willwork4beer says:

    Shore Guy,

    I tried to answer your request last evening but landed (thankfully) in moderation. A little reflection made me realize that my initial response was too heavily slanted toward extreme beer geek choices. Email me and we’ll talk. I’ll try to suggest a few beers you might like to try.

    #ww4#beer#@gmail.com

    Remove the 3 #’s.

    131. Shore Guy says:
    June 6, 2010 at 6:43 pm

    Will Work,

    Maybe you can work up a list of like 15-20 beers that are kinda consensus choices for the very best available. I am not really a beer guy and won’t work myself through 500 beers to find a few great ones, but I would be willing to try some of the better ones.

  190. Essex says:

    188. Seriously? You really think we’d let Iran….you really think Rahm would let Iran ever posture like that. Parking lot #1 right there. Rid the world of those scumbags and we’d be better off. Stimulate the economy too.

  191. Essex says:

    The only beer you will ever need…..

    http://en.wikipedia.org/wiki/Samuel_Smith_Brewery

  192. willwork4beer says:

    #196 Essex

    An outstanding brewery with many fine styles. A personal favorite.

  193. zieba says:

    Sam Smith is the truth.

  194. Confused in NJ says:

    WASHINGTON – Federal Reserve Chairman Ben Bernanke said Monday he is hopeful the economy will gain traction and not fall back into a “double dip” recession.

    “My best guess is we will have a continued recovery, but it won’t feel terrific,” Bernanke said

    Ben’s Best Guess is like thw Weatherman, right or wrong he still gets paid.

  195. Pat says:

    Confused, BB forgets that in the third grade, even small children are introduced to the concept of change.

    My daughter just came home with an essay she wrote in her very best penmanship. They had to discuss change.

    She titled hers, “Change may be Orderly or Random.”

    “Some changes happen in a way that we can predict and some changes happen in a way that is unpredictable. For example…”

    She is a much better speller than I, but her essay would a more honest assessment of the next year than Mr. Bernanke’s.

  196. chicagofinance says:

    Pat says:
    June 7, 2010 at 10:51 pm
    She is a much better speller than ME, but her essay would a more honest assessment of the next year than Mr. Bernanke’s.

    Patsie: hopefully her grammar is better too….

  197. Final Doom says:

    When Ben Bergabe speaks, apply Costanza Theory.

    Whatever he says, expect the opposite to occur.

  198. borat obama says:

    Last

  199. tunoinca says:

    #175 final doom – beyond horrible. really firms up your faith in the human race, not. can’t come up with something snarky, here. back to not reading Isaac Babel, but instead something a bit less, um, grim.

  200. It’s the first time I have heard that in Macedonia, obits are an unusual observe. You have wonderfully written the post. I have liked your way of writing this. Thanks for sharing this.

  201. The more you forget, the less you know. So why bother to learn.

  202. I just started reading your site – thanks for writing. I wanted to inform you that it’s not displaying correctly on the BlackBerry Browser (I have a Blackberry 9700). Anyway, I am now subscribed to the RSS feed on my PC, so thanks again! Thanks.

  203. Luis Felice says:

    Wonderful article mate!! Maintain up the good writing and we’ll maintain coming to come back for much more .)

  204. I was studying a thing else about this on yet another website. Intriguing. Your viewpoint on it can be diametrically opposed to what I understand to commence with. I’m nonetheless contemplating around the a variety of points of view, but I’m tipped to a great extent toward yours. And no matter, that is what is really great about modern-day democracy as well as the marketplace of suggestions on the web.

  205. Thad Edward says:

    Useful write-up. Had been did you received all the facts from…

  206. Hi, there. This can be a really notable blog and some good concepts within your submit. I’ll be to come back. With thanks for the great content material. By the way, why not listing your blog in our E-Commerce directory and get a again link from us?

  207. Nice post…Thank you for sharing some good things!!

  208. Hi there this is my first Comment on a Blog….the reason i am publishing this is to express my appreciation to the man or women who provided this great info…it reminds me why i love the internet…thanks

  209. Whats up, A great article, I have to admit this is really what we are here for, this forum definitely needs bloggers like you. Filling the forum with some good tips and information, I did follow A couple of your posts, they been relevant and great points were elaborated. I must say we ought to always be ready to post within our best knowledge to support people. Really appreciate your site.

  210. Fantastic article! Any opinions that you might be willing to divulge to justify the first part a bit more? nice one

  211. Affiliate marketing is tough business; no wonder countless affiliates struggle to make mere pennies. This is a great post with excellent tips for newbie as well as established affiliates.

  212. Good blog with some useful information. I will be back.

  213. Delmar Gaba says:

    Good blog with some useful information. I will be back.

  214. found your site on del.icio.us today and really liked it.. i bookmarked it and will be back to check it out some more later ..

  215. Are you kidding me? I’m not 100% sure I can put myself behind what you say. But I will surely be back to see what else you have next week.

  216. The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.

  217. Heaps of Great information in your blogpost, Thanks

  218. fiwedding says:

    It’s almost gone now. I find myself reaching for it twice as often as my Macallan single malt.

  219. niniii0 says:

    for your website or blog content as much as

  220. Awesome post tim, it’s been a long-time since I’ve been on here. I see that nobody has lost their passion. Good to be back.

  221. Colton Cajka says:

    We are a group of volunteers and starting a new initiative in our community. Your blog provided us with valuable information to help us get started|.You have done an impressive job!

  222. Merna Polsky says:

    I’m not sure I completely agree with you on this article. Still I am definitely amenable to innovative concepts. May have to feel about it. Great site anyway.

  223. I adore your website – super !

  224. Fantastic web page, I recently came across it and I’m already a fan. I recently got rid of 30 pounds in thirty days, and I am excited to share my weight loss success with as many people as possible. If I can lose weight then any one can. Whatever you do, never give up and you WILL accomplish all your weight loss targets!

  225. LOL is that what you young people would say in this cases? Hello there, i’m a 84 years old grandfather and I’ve just found this website in my browser history. My nephew used my laptop the last time he went here, I believe… he says LOL pretty often but I’ve started to undertand what it means only recently but he’s a good boy after all. Keep doing your best guys, Internet is a real blessing and you have no idea how lucky you are. Best wishes by a old man commenting for the first time

  226. What you said made a lot of sense. But, think about this, what if you added a little content? I mean, I dont want to tell you how to run your blog, but what if you added something to maybe get peoples attention? Just like a video or a picture or two to get people excited about what youve got to say. In my opinion, it would make your blog come to life a little bit.

Comments are closed.