New Jersey Home Price Tracker – June 2010

The New Jersey Home Price Index Tracker has been updated to include:
* April S&P Case Shiller (Aggregate, Tiered, Condo)
* Q1 FHFA Home Price Index (HPI, Purchase Only)
* Q1 NJAR Home Price Index (Statewide Median)


(click to enlarge)


(click to enlarge)


(click to enlarge)

FHFA (Formerly known as the OFHEO) Home Price Index

HPI (Includes Refis) – Peaked in Q1 2007 and is down 13.5% from peak

Purchase Only – Peaked in Q2 2006 and is down 12.9% from peak

S&P Case Shiller NY Metro Commutable Area Home Price Index

Low Tier (Under $279,579) – Peaked in October 2006 and is down 26.9% from peak

Mid Tier ($279,579 – $428,491) – Peaked in September 2006 and is down 23.2% from peak

High Tier (Over $428,491) – Peaked in June 2006 and is down 17.0% from peak

Aggregate (Overall Market) – Peaked in June 2006 and is down 21.7% from peak

Condo-Only Index – Peaked in February 2006 and is down 13.6% from peak

NY Metro Area Aggregate Year over Year Changes

Apr 2009 -12.35%
May 2009 -11.87%
Jun 2009 -11.49%
Jul 2009 -10.13%
Aug 2009 -9.42%
Sep 2009 -8.73%
Oct 2009 -8.04%
Nov 2009 -7.42%
Dec 2009 -6.31%
Jan 2009 -5.26%
Feb 2009 -4.07%
Mar 2009 -2.43%
Apr 2010 -1.02%

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

236 Responses to New Jersey Home Price Tracker – June 2010

  1. grim says:

    So where do prices go from here?

    Double Dip?

    Flat until 2015 like the last bubble/crash?

    Up?

  2. Shawn212 says:

    I’m curious how low mortgage rates will go. I bet we get in to the 3.5% range by this time next year…and prices will still slide.

  3. grim says:

    From the Record:

    Pink slips issued to 24 Ridgewood employees

    The village is officially laying off 24 employees and moving four full-time employees to part time, according to information received from the Village Manager’s office.

    The village planned to conduct two rounds of layoffs this month, with the first coming yesterday and the second on July 30.

    Negotiations were ongoing as of last week, but they failed to save any additional jobs.

  4. grim says:

    From the Philly Inquirer:

    A drop in manufacturing growth heightens economic worries

    After driving the economic recovery over the last year, manufacturing activity is slowing, according to reports Thursday in Philadelphia and New York.

    A third report showed that factory production fell the most in a year, and yet another economic indicator – prices at the wholesale level – raised some worry about deflation.

    “Manufacturing has peaked, and factory output will moderate over the next few months,” Ryan Sweet, senior economist at Moody’s Economy.com in West Chester.

    In the Philadelphia area, manufacturing fell in July for the second consecutive month as the national economy stumbles through a soft patch, according to a monthly survey from the Federal Reserve Bank of Philadelphia.

    Moreover, the Fed said the index component for new orders fell below zero for the first time in a year, and shipments fell sharply.

  5. grim says:

    From Hoboken Patch:

    Layoffs Loom for Police

    City officials are in the final stages of formulating a layoff plan for the police department based on the findings of a state audit released in February. The audit found the department to be top-heavy, overstaffed, and under-worked.

    Business Administrator Arch Liston said the administration is working with the City Council and sources believe a plan will be released before the end of July.

    The audit, which was performed by a former Maplewood police chief, recommended that the city cut nearly one-third of its police force and eliminate the position of Public Safety director, among other things.

  6. Final Doom says:

    C got caught with 9.2 bn in Repo 105s.

    Doh!

  7. Essex says:

    For years she picked up trash, tidied picnic tables, manned the snack bar and set up park events for the city of Bell. Rosario Torres’ $9-an-hour job came with no benefits, but it helped support her family of seven. When she was laid off in 2008, she applied for another city job but never heard back.

    Now, reports that Bell city officials are among the most highly compensated municipal employees in the nation has left Torres disgusted. The 36-year-old said she cannot fathom how the city manager earns nearly $800,000 in the same tiny working-class town where she struggles to find employment.

    “They said there was no budget for me,” Torres said Thursday afternoon, sitting with her children at one of the parks she used to clean. “Now I can’t pay my bills. I only pay for water, gas and electricity, and those are late. I’m angry. There need to be changes; they need to find jobs for people here.”

    The Times reported Thursday that Chief Administrative Officer Robert Rizzo earns nearly twice the salary of President Obama, Police Chief Randy Adams about 50% more than Los Angeles Police Chief Charlie Beck and Assistant City Manager Angela Spaccia more than the chief executive for Los Angeles County.

    » Don’t miss a thing. Get breaking news alerts delivered to your inbox.

    Rizzo was unapologetic, saying he could earn just as much in private business. Several council members said Rizzo had saved the city from near bankruptcy and was worth every penny of his salary.

    A community of 36,000, Bell is predominantly Latino, its ethnic roots evident in the markets and panaderias that line its main thoroughfares. Mom-and-pop auto businesses, coin laundries and beauty salons dot the city, located southeast of downtown, where the Los Angeles River cuts beneath the 710 Freeway.

    Here, the notion of six-figure incomes contrasts sharply with modest neighborhoods of simple one-story homes and worn-out, littered strip malls. The median income is about $40,000, and 65% of residents over 25 do not have a high school diploma. Many said they were forced to look for jobs in neighboring cities or get by on part-time work.

    “It’s a blue-collar city. A lot of people are just trying to make ends meet,” said Bell resident Victor Munoz, who said he was laid off from his telecommunications job last year and is now taking pharmacy technician classes.

    Munoz, 42, has lived in the area for decades and says the immigrant community is largely unaware of what happens at City Hall.

    “They don’t know or they don’t understand it,” he said. “Because of the language barrier or their schooling, they don’t always comprehend what’s going on.”

    Bell is being investigated by the Los Angeles County district attorney over the compensation of its City Council members, who receive about $100,000 a year for their part-time positions. In a city the size of Bell, a council member is typically paid about $400 a month, according to state records.

    Assemblyman Hector De La Torre (D-South Gate), who wrote a 2005 bill that limited some city council salaries, expressed outrage over the salaries of Bell’s top administrators.

    “The president of the United States and other public servants who oversee much more complicated and sophisticated operations make much less than these city officials,” he said. “I think that makes it really clear these salaries are overdone.”

    The City Council, he said, “is completely avoiding their fiduciary responsibility to the taxpayer.”

    Bell city employees are tight-lipped, saying they’re not allowed to speak about the subject, and employees of a grocery owned by Mayor Oscar Hernandez asked a reporter to leave.

    Residents, however, have no problem expressing what they think about their city’s budget, which pays the police chief — who oversees a 46-person department — $457,000 a year. By contrast, Los Angeles’ police chief oversees 12,899 people and earns $307,000.

    Maricela Morales, a single mother of three who works as a medical assistant at a clinic, said the news about her city was disheartening at a time when she was seeking a second job to help make the rent. “That is too much for them,” she said. “And I wonder how I’m going to support my children.”

    Christian Andrade, 32, who earns $10 an hour as a waiter at a Mexican restaurant, said that he often worried about making the out-of-pocket health insurance payments for his wife and himself, and that lately he had sensed more crime in his neighborhood. As he left a laundromat with a bag of clothes over his shoulder, he shook his head at the Times front page that illustrated the steep climb of Rizzo’s salary to $787,637 over more than a decade.

    “If you’re making that much money,” Andrade said, “it should be a better city.”

  8. Final Doom says:

    We’ve been talking about this here for years. We are gubmint mules, fed gubmint cheese.

    “Watching my children grow older, now heading into the treacherous shoals of the teenage years, has been a visceral reminder of how the human mind develops. As young children, we see the world with fresh eyes and wonderment, and then quickly begin testing the physical and societal bounds as part of morphing into our more mature selves.

    As we age into our teens and beyond, the testing of boundaries evolves into a series of calculations. If I do “A,” we wonder, will it lead to “B” or maybe “Z”?

    From a young age, most of us are told to advance our education and otherwise better ourselves so that we will be able to find a good job, or a succession of good jobs, that will provide sustenance and security lasting most of a lifetime before retiring to dawdle about in our golden years.

    At least that is the modern view of life pursued by the vast majority of the citizenry in the developed world.

    But having spent some time in rural Argentina recently – where it seems to me that most people spend more time living and less time planning to live – I have had some time to ponder the assumptions embedded in this view.

    What if, I wonder, the whole modern construct of what passes for making the right moves in an advanced society is plain wrong?

    Is the goal of working hard to get a good job and then moving up the corporate ladder really so desirable? Is marrying and having 2.5 kids and growing old in a glorified box in the burbs really so wonderful?

    I asked someone who knows what percentage of their income – which is to say the income of a reasonably successful person – now goes to taxes, and the answer was, “Over 60%.”

    What if the modern version of society is really nothing more than a sleight of hand designed to fool the masses into becoming little more than government mules, allowed their simple pleasures in exchange for providing the muscle and the money needed to feed the beast?

    An increasing number of the mules seem to me to have become disheartened at the difficulty of creating and keeping enough wealth to live the life envisioned in youthful dreams. And correctly so: building lasting wealth is relatively easy when you keep 90%, but nearly impossible when you keep just 40%. And, if the trend now in motion continues in motion, the productive elements will soon be lucky to keep 30%.

    While even I can’t foresee things getting as bad as they did in Britain in 1974, when the top 750,000 wage earners were slapped with a tax rate of 98%, the steady build toward more regulations, more government, more tariffs, and more taxes in more sectors of the economy will affect a broader swath of the public and, in so doing, weigh even more heavily on the nation.

    And it will result in much the same thing experienced by the British at the time – a mass expatriation by the more independent-minded and entrepreneurial types.”

    http://www.zerohedge.com/article/guest-post-government-mules

  9. freedy says:

    NJ police chiefs are probably at seminars run by the Bell Chief. On how to beat the taxpayers . Very simple. go around any caps

  10. grim says:

    Elected and appointed officials have a hard time distinguishing between public service and the divine right of kings.

  11. freedy says:

    they actually believe most citizens are stupid , and don’t pay attention . For the most
    part , they are correct. Why else would we be where we are?

  12. grim says:

    Keep in mind the graphs are about 3 months old and don’t include the post-credit period.

  13. Final Doom says:

    The rich aren’t any damn different than you and me. This is from Greenwich, CT:

    “Last week was a bust so far as new listings were concerned, but it was a holiday week, so I expected better offerings this week. Not a chance. I skipped every open house today. One Ogilvy listing is asking $12 million, with an assessed value of $5. Now come on, how am I supposed to sell that? The rest were no better, and that’s incredibly frustrating. There are plenty of buyers out there, ready to move, but, while they aren’t scum-sucking bottom feeders, they aren’t morons either. Price your house at a reasonable level and you’ll sell it. If you aren’t willing to do that, then pull it from the market, sit tight for ten years,and hope for better times.

    I have one customer who was interested in buying some land from a builder who paid $2 million for it July 1st. The builder says he’ll sell it for $4.5 million which is in effect a big fuck you. I admire his confidence, but I expect to send the same message back to him in two years.

    Similarly, I’ve extended two offers to two other builders who are in serious trouble with their lenders – like foreclosure in September – and received the same response: everything is fine, go away. Well no, they’re the ones who will be going away, and they’ll go with nothing.

    Home owners, builders, banks: they all are acting as though some mortgage fairy is going to descend from heaven and save their ass. It’s not going to happen, and all three of these groups should be grabbing at the ladders of salvation being offered now. By October, the ladders will be gone, and there will be a great wailing and gnashing of teeth.”

    http://christopherfountain.com/2010/07/13/would-you-sellers-please-get-real/

  14. Final Doom says:

    Crap. Moderated.

  15. LoveNJ says:

    Reply to 7,

    $800,000 for a town of 36,000 people. This guy robbed everyone.
    He earns more than US President, probably even more than Mafia Boss.
    Wait a minute, he may be well be the Boss.

  16. House Hunter says:

    interesting little factiod- checked on a home that recently went back to the bank in my area. The sheriff list noted Bank of America as the loan holder, checked back with the office post sale, the title now lists the owner of the loan as Secretary of Housing, Housing and urban development (HUD). Definetly not a HUD home as I would think of one. Original loan in late 2007 was 378,000 with about 50,000 in a second loan…nothing, absolutely nothing done to improve the house in that time but there used to be pretty nice tahoe in the driveway. All the upstairs windows were left open for who knows how long, through the window we see the dishwasher door is ripped off. A little present left behind by the bitter so called home owner…damn shame

  17. House Hunter says:

    so with the title under HUD now, I assume we all own that house 3 times over and BOA is cleaning it’s books up fairly well

  18. House Hunter says:

    one more rant…what is up with this “better than expected, worse than expected, unexpectedly” crap. How can you put faith in these “experts” or the gov’t for that matter if they are so “off” all the time. play on words

  19. Final Doom says:

    “I think that what this experience has taught us is that the President of the United States answers to others behind the scene. There are many theories on who these others are but I will keep it very simple. There is clearly a power elite that consists of a union between big corporate and financial oligarchs and career bureaucrats in Washington D.C. These are the folks that pull the strings of all administrations. All you have to do is look at the trends that have been in place since George W Bush and continue under Obama to see what these players want. Bigger government and thus more Federal power, more wealth for the oligarchs (thank you Federal Reserve) and an erosion of the middle class, and reduction of civil liberties in the name of the 1984-like never-ending “war on terror.” I believe in a war on terror of my own. A war against the terror that Washington D.C. is constantly trying to inject into your head so that you sheepishly give away all you rights and power to them. That’s my war on terror.”

    http://www.zerohedge.com/article/guest-post-dangers-failed-presidency

  20. Final Doom says:

    hunter (15)-

    Nice example of how FHA/Ginnie is being primed as the next bankruptcy/bailout plutonium bomb.

    If the gubmint had any sense, they’d shutter Phony/Fraudy/Gummy and take a 3 trillion or so writedown.

    Then again, this is the gubmint we’re talking about.

  21. Confused in NJ says:

    First-time unemployment claims in New Jersey soared to the highest weekly level in nearly two decades — a sign recovery in the job market has stalled or, worse, reversed course, according to an economist.

    Initial claims, which are used to measure layoffs, rose 32 percent, to nearly 25,400 for the week ending July 3, according to U.S. Labor Department figures released yesterday. It is the highest figure the state has seen since 1991

  22. grim says:

    HH,

    No crystal balls.

  23. Final Doom says:

    We’re going down hard. The worst of this whole thing is about to hit.

    I won’t loot stores, but I will storm the Statehouse.

  24. Final Doom says:

    Job creation? Are you kidding me? I wouldn’t even take on an agent right now…and RE agents are independent contractors.

    I can’t imagine what people who employ W-2 workers are thinking.

  25. grim says:

    If I recall, jobless claims for NJ were pretty high last week as well. Nowhere near that monster though.

  26. Final Doom says:

    Actually, I would take on an independent contractor…to do cleanouts on foreclosed houses.

  27. House Hunter says:

    Doom, I agree but to see it first hand, I can’t say it shocked me, but disgusted me more than I could have imagined. I used to think there was a way to prevail, not so much anymore. Raising a teenager right now is the real challenge trust me

  28. House Hunter says:

    Grim, things are clouded for sure, but it accentuates the fact that most can’t read, or interpret what is going on out there, confidence at a low for me

  29. yo'me says:

    The 22 statistics that you are about to read prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America.

    The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace.

    See proof of the Middle Class extermination –>

    So why are we witnessing such fundamental changes? Well, the globalism and “free trade” that our politicians and business leaders insisted would be so good for us have had some rather nasty side effects. It turns out that they didn’t tell us that the “global economy” would mean that middle class American workers would eventually have to directly compete for jobs with people on the other side of the world where there is no minimum wage and very few regulations. The big global corporations have greatly benefited by exploiting third world labor pools over the last several decades, but middle class American workers have increasingly found things to be very tough.

    The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker ten times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new “global” labor pool.

    What do most Americans have to offer in the marketplace other than their labor? Not much. The truth is that most Americans are absolutely dependent on someone else giving them a job. But today, U.S. workers are “less attractive” than ever. Compared to the rest of the world, American workers are extremely expensive, and the government keeps passing more rules and regulations seemingly on a monthly basis that makes it even more difficult to conduct business in the United States.

    So corporations are moving operations out of the U.S. at breathtaking speed. Since the U.S. government does not penalize them for doing so, there really is no incentive for them to stay.

    What has developed is a situation where the people at the top are doing quite well, while most Americans are finding it increasingly difficult to make it. There are now about 6 unemployed Americans for every new job opening in the United States, and the number of “chronically unemployed” is absolutely soaring. There simply are not nearly enough jobs for everyone.

    Many of those who are able to get jobs are finding that they are making less money than they used to. In fact, an increasingly large percentage of Americans are working at low wage retail and service jobs.

    But you can’t raise a family on what you make flipping burgers at McDonald’s or on what you bring in from greeting customers down at the local Wal-Mart.

    The truth is that the middle class in America is dying — and once it is gone it will be incredibly difficult to rebuild.

    See proof of the Middle Class extermination >

    Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#ixzz0tqWSLjyO

  30. yo'me says:

    22 Statistics of Middleclass erosion
    See proof of the Middle Class extermination >

  31. Mr Wantanapolous says:

    “So where do prices go from here?”

    JB [1]

    Good piece on BP. To sum it up; It’s gonna be a long walk home.

    We are only in the middle innings of this bust. Stabilization/dead cat bounces are typical in any long term, bear market trend. This trend will produce much greater losses and the duration will be much longer that most can imagine.

    “With household formation running at just 0.9 million while the US is still building 0.6 million new homes annually, only 0.3 million of the oversupply will be absorbed per year. As there are currently 4 million too many homes, it may take years to mop up the huge oversupply of houses.”

    “Perhaps homeowners suffering negative equity are patiently expecting house prices to rise again. But they may be in for a long wait. Prices are likely to be weighed down by a massive oversupply of homes relative to underlying demographic demand.”

    http://www.ritholtz.com/blog/

  32. yo'me says:

    The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker ten times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new “global” labor pool.

    What do most Americans have to offer in the marketplace other than their labor? Not much. The truth is that most Americans are absolutely dependent on someone else giving them a job. But today, U.S. workers are “less attractive” than ever. Compared to the rest of the world, American workers are extremely expensive, and the government keeps passing more rules and regulations seemingly on a monthly basis that makes it even more difficult to conduct business in the United States.

    So corporations are moving operations out of the U.S. at breathtaking speed. Since the U.S. government does not penalize them for doing so, there really is no incentive for them to stay.

    What has developed is a situation where the people at the top are doing quite well, while most Americans are finding it increasingly difficult to make it. There are now about 6 unemployed Americans for every new job opening in the United States, and the number of “chronically unemployed” is absolutely soaring. There simply are not nearly enough jobs for everyone.

    Many of those who are able to get jobs are finding that they are making less money than they used to. In fact, an increasingly large percentage of Americans are working at low wage retail and service jobs.

    But you can’t raise a family on what you make flipping burgers at McDonald’s or on what you bring in from greeting customers down at the local Wal-Mart.

    The truth is that the middle class in America is dying — and once it is gone it will be incredibly difficult to rebuild.

    businessinsider.com

  33. yo'me says:

    What do most Americans have to offer in the marketplace other than their labor? Not much. The truth is that most Americans are absolutely dependent on someone else giving them a job. But today, U.S. workers are “less attractive” than ever. Compared to the rest of the world, American workers are extremely expensive, and the government keeps passing more rules and regulations seemingly on a monthly basis that makes it even more difficult to conduct business in the United States.

    So corporations are moving operations out of the U.S. at breathtaking speed. Since the U.S. government does not penalize them for doing so, there really is no incentive for them to stay.

    What has developed is a situation where the people at the top are doing quite well, while most Americans are finding it increasingly difficult to make it. There are now about 6 unemployed Americans for every new job opening in the United States, and the number of “chronically unemployed” is absolutely soaring. There simply are not nearly enough jobs for everyone.

    Many of those who are able to get jobs are finding that they are making less money than they used to. In fact, an increasingly large percentage of Americans are working at low wage retail and service jobs.

    But you can’t raise a family on what you make flipping burgers at McDonald’s or on what you bring in from greeting customers down at the local Wal-Mart

  34. SG says:

    It seems double dip is imminent.

  35. Final Doom says:

    I’d like sprinkles on my double dip, please.

  36. Final Doom says:

    hunter (27)-

    Take hope. Those that can’t read or interpret what’s going on can be counted on to become violent when we need them to.

    “…most can’t read, or interpret what is going on out there, confidence at a low for me…”

  37. yome says:

    The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker ten times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new “global” labor pool.

    What do most Americans have to offer in the marketplace other than their labor? Not much. The truth is that most Americans are absolutely dependent on someone else giving them a job. But today, U.S. workers are “less attractive” than ever. Compared to the rest of the world, American workers are extremely expensive, and the government keeps passing more rules and regulations seemingly on a monthly basis that makes it even more difficult to conduct business in the United States.

    So corporations are moving operations out of the U.S. at breathtaking speed. Since the U.S. government does not penalize them for doing so, there really is no incentive for them to stay.

    What has developed is a situation where the people at the top are doing quite well, while most Americans are finding it increasingly difficult to make it. There are now about 6 unemployed Americans for every new job opening in the United States, and the number of “chronically unemployed” is absolutely soaring. There simply are not nearly enough jobs for everyone.

    Many of those who are able to get jobs are finding that they are making less money than they used to. In fact, an increasingly large percentage of Americans are working at low wage retail and service jobs.

    But you can’t raise a family on what you make flipping burgers at McDonald’s or on what you bring in from greeting customers down at the local Wal-Mart.
    Businessinsider.com

  38. House Whine says:

    No surprise to me about NJ jobless claims – two close friends laid off in the past 3 weeks (attorney and IT) and friend working for a pharma company told us close to 60 employees laid off this week from R & D. Oh, I forgot… we are in a jobless recovery so I guess all is well.

  39. Mr Hyde says:

    Whats all the debate about the “double dip”? The government spent a few trillion trying to put an artificial floor under prices. It doesnt require a PhD to figure out what happens when the floor gets pulled out and.or fails to support the market.

    We would probably already be near bottom if the government hadn’t put an artificial floor under things.

    May i remind people of a perfect example. in 1920/21 (Oct 1920 market dropped 33%) we had a mini crash as a result of the FED keeping interest rates artificially low in order to keep Victory Bond prices high ( in order to fund WWI) . President Harding refused to play the bailout game. As a result the market corrected quickly and brutally efficiently. Those who made bad loans or couldnt pay back loans immediately went bust and got wiped out. The crash was the result of the the bubbles blown to fuel WWI. As the war ended the bubble/s began to burst. As a result of letting the econonic system purge itself unemployment went from near histporic highs in 1921 to about 2.5%

    This event fueled the roaring 20’s because it allowed the natural economic mechanism of removing bad/ill-investment to be cleaned from he system.

    Note that the newly created Federal Reserve wanted to print their way out of the 1921 recession but harding blocked them from doing so. Once Coolidge took office in 1923 the FED immediately fired up the pressed and began to set the stage for 1929.

    Does any of the 1920/21 crash sound familiar????? Artificially suppressed interest rates in order to facilitate the selling of excess amounts of debt by the government???

    But hey, I’m just a high school janitor. What do i know?

  40. Mr Wantanapolous says:

    Jobs still being slashed, hourly wages/work week hours declining, credit constraints, balance sheets in disarray, health costs/taxes rising, an over-supply of 4M houses and 25% underwater. One can only imagine where we would be if not for 12T of stimulus, guarantees and robbing the vault.

    Green shoots for all. We are sliding down the slope of hope. Unfortunately, there’s a long way to go before we hit bottom.

  41. Mr Hyde says:

    Note that the newly created Federal Reserve wanted to print their way out of the 1921 recession but harding blocked them from doing so.

    In case any history buffs want to call me out on this, i have seen a few different accounts of events. One side of the story being the FED intentionally pursued a deflationary policy to clean up the economic mess from WWI and the other version generally being that the FED wanted to to print but Harding had the political muscle to not allow them to do so, essentially forcing the FED to follow deflationary policies.

  42. jp says:

    double dip double dip!

  43. Shore Guy says:

    Like ripping off a band-aid, or an amputation without anasthesia, doing it quickly is the best aapproach. Dragging out the process allows one to feel like they are helping but it only makes the pain worse.

  44. Shore Guy says:

    “Negotiations were ongoing as of last week, but they failed to save any additional jobs”

    The thing is, negotiations that would have led to saving those jobs would have resulted in an economic hit to the ones who were not laid off and the loss of those jobs may well mean an economic benefit to those who remain — someone has tp pick up the slack and they will want to earn a bit more for doing it.

  45. SG says:

    Google News Search word results

    Oil Spill – 39,413
    Financial Reform – 23,645
    Double Dip – 12,315
    Foreclosure – 7,350
    Bailout – 7,116

  46. Nicholas says:

    My company which is headquartered in NJ is down 20% on the year, sales and revenue, which means that they are going to lay off people. They announced yesterday from my division (I do professional services and research) that they are going to let 27 people go. Four will be relocated elsewhere in the company, with 23 being terminated.

    All those jobs are in NJ. These are people with Masters and PHDs in their field. It will not be pretty. These jobs do not return, ever.

  47. Final Doom says:

    shore (39)-

    Also, pursuing the path you mentioned would not allow our fascist gubmint and their corporate/bankster paymasters to drain the entire middle class of all its wealth.

    “Dragging out the process allows one to feel like they are helping but it only makes the pain worse.”

    Anarchy now!!!!

  48. Final Doom says:

    nick (42)-

    Stop whining. There’s a lot of money and opportunity in frying hamburgers.

  49. Final Doom says:

    Die, market, die!!!!!

  50. grim says:

    Morning was unexpected and came earlier than anticipated, hence the selloff.

  51. Stu says:

    Earnings good, sales bad, economic reports worse. This is what happens when companies continue to layoff labor to grow earnings and the gubmint allows banks to lie about their loans on the balance sheets. Ten year back down to 2.94. European Libor at record high. Market should finish up right?

  52. Stu says:

    And just wait until the CS report post credit! If the double dip hasn’t started by then, it should shortly after.

  53. dan says:

    Grim, 46

    Explains the oil rise of 2008. That and imaginary Nigerian pipelines always blowing up.

  54. Nicholas says:

    Haha,

    Whining? I’m having the best year of my life. I recieved a pay raise, a bonus, and an award for “growing the buisness” this year.

    That doesn’t mean that I don’t have compassion for those who are being let go. Although most of the success comes from manuevering and personal relationships there is some element of luck aslo known as “good timing”. It also doesn’t stop me from calculating the damage that will occur when 23 100k+ earners have to tell their families and communities that they are looking for work.

    Anyway, thought you guys would like to know that professionals are getting torched at the same rate as everyone else.

    Here is an article from calculatedrisk that indicates that on average you remain unemployed longer when you are older and educated.

    http://www.calculatedriskblog.com/2010/07/older-more-educated-workers-have.html

  55. Final Doom says:

    Stu (48)-

    It should be fun listening to the lies they conjure up when the bank runs start in Europe.

  56. Firestormik says:

    Well, at least some green shoots for me. Wasn’t looking for a job, but got an offer at another company (wall street like). My company countered with 30% rase. Still scratching my head but most likely I’ll stay

  57. Final Doom says:

    “The ECRI Leading Economic Index just dropped to a fresh reading of 120.6 (flat from a previously revised 121.5 as the Columbia profs scramble to create at least a neutral inflection point): this is now a -9.8 drop, and based on empirical evidence presented previously by David Rosenberg, and also confirming all the macro economic data seen in the past two months, virtually assures that the US economy is now fully in a double dip recession scenario.”It is one thing to slip to or fractionally below the zero line, but a -3.5% reading has only sent off two head-fakes in the past, while accurately foreshadowing seven recessions — with a three month lag. Keep your eye on the -10 threshold, for at that level, the economy has gone into recession … only 100% of the time (42 years of data).” We are there. ”

    http://www.zerohedge.com/article/ecri-plunges-98-rate-double-dip-recession-virtually-assured

  58. yo'me says:

    Delta Air Expects 65,000 Applicants for 1,000 Job Openings

  59. House Hunter says:

    46 grim, loving that

  60. Commanderbobnj says:

    42.Nicholas says:
    July 16, 2010 at 9:42 am
    “…My company which is headquartered in NJ is down 20% on the year, sales and revenue, which means that they are going to lay off people. They announced yesterday from my division (I do professional services and research) that they are going to let 27 people go. Four will be relocated elsewhere in the company, with 23 being terminated.

    All those jobs are in NJ. These are people with Masters and PHDs in their field. It will not be pretty. These jobs do not return, ever……”

    Commander BOB sez:

    …And this is going-on all over …. Won’t be long before we are over 10% unemployment again. The manufacturing companies in this country are “helping things along” by outsourcing more and more to factory production to China!—-Do they really think that it helps sell more [here] of their foreign made products with our U.S. laid-off and fired workers with NO extra money to spend except for basic food and shelter ??

    I have -(present & old)- customers (me: 31 years in present business) in Tenafly, Ridgewood, Glen Rock, etc.- all throughout Bergen County, that are really struggling to stay financially afloat. If it wasn’t -(for some of them..)- for their wives’ working, –and they laid-off, —I think that quite a few would be facing foreclosure this year.. Bye bye, nice, neat & pretty house !

    Of course, president Bo-Jangles sez we’s are on the path to recovery…Yeah, Right !

    Commander BOB

  61. Final Doom says:

    If any of you guys like Reggie Middleton, he has just posted a piece that rips JPM a new one on their rigged/falsified “earnings” last quarter.

  62. House Hunter says:

    Gerald Celente ….“weasel words.” These may take the form of a single word, phrase, or a seemingly innocent descriptive paragraph. It is never obvious, nor does it look like propaganda. The weasel words slither by the conscious mind, unperceived, and register only as afterthoughts, throw-a-ways, or conditionals.
    Here’s an example from yesterday’s news: Bloomberg —Trade Deficit in U.S. Unexpectedly Widened in May.

    Certainly this headline, to the casual reader, seems straightforward and informative. However, just one word in this very short headline carries a concealed message: “Unexpectedly.” Unexpected by whom? The expectant economists who did not expect it to widen?
    What about all those individuals who expected the trade deficit to widen? The underlying, unstated assumption is that if their stable of “accredited” authorities did not expect the trade deficit to widen, no one did.

    If this headline was an isolated instance, this kind of semantic micro-analysis might be dismissed as nit-picking. But when it is the rule rather than the exception, this single word reveals an on-going reliance, particularly by media and government, on a limited number of “experts” whose lack of expertise is revealed in the following headlines:
    Orders to US Factories Fall More Than Forecast
    Jobless Claims in US Unexpectedly Increased
    US Consumer Confidence Declines More Than Estimated
    Existing Home Sales Unexpectedly Fell
    Add to this list the convenient cop-outs, “No One Saw It Coming” and “Worse Than Anticipated” that experts commonly resort to when they didn’t see it coming and/or failed to anticipate developments. This drumbeat of excuses for missed calls and mistaken forecasts covers up the “experts” personal failings while creating the false impression: since they, the experts, were unable to see into the future, no one else could either.

  63. meter says:

    So the rich will take their balls and go home if “overtaxed?”

    Fcuk them. Let them try to survive in a place where the federal, state and local governments aren’t protecting them and their schemes.

  64. grim says:

    When your mortage lender calls inquiring about the late payment, just let them know that your income didn’t meet expectations this quarter, and analysts are forecasting continued declines.

  65. Final Doom says:

    Capital will flow to where it’s treated best. By the time the the mobs assemble with pitchforks and torches, the capital will already be gone.

  66. Final Doom says:

    grim (61)-

    I just tell my short sale clients to say “fcuk you”.

    Nothing ends a conversation faster.

  67. House Whine says:

    I watched some C-Span this morning (my spouse hates when he has to be subjected to talking heads at 7 a.m.). Some expert was on from George Mason University. She argued that for every manufacturing job outsourced from the U.S. we get back another job at Walmart! She seemed quite pleased with that outcome.

    Wow, ain’t that grand. Easy for her to say- I am sure her advanced degree awards her a bit more than minimum wage. Everything out of her mouth was, “this study state, and this expert states”, she drove me nuts.

  68. Juice Box says:

    re: # 59 – House the economists surveyed are almost always more bullish…

    See article from yesterday.

    http://online.wsj.com/article/SB10001424052748703722804575368871006939294.html

  69. meter says:

    @64 –

    George Mason is a hotbed for retarded libertarian economists.

    You know, the kind that think unbridled free markets are the best and that general lawlessness (other than laws that protect the property rights of the rich) is preferable.

    Monopolies? No problem. Public services? Who needs them.

  70. cooldude says:

    hey now !!!!!!!!!!!!!!!!

  71. House Whine says:

    67- Ah, there you go. A retired firefighter from Md. called in to the show. He spoke bluntly and stated his case about stimulus dollars. He ended the call saying that he spent years putting out fires to save taxpayers like her! You know what this heartless woman said to him? “Well, our studies show that firefighting is one of the Least Dangerous public service jobs”. I wanted to throw something at the t.v. Maybe I had too much early a.m. coffee.

  72. Final Doom says:

    meter (67)-

    We’ve never had unbridled free markets in this country.

    I’d love to see it tried. I think it would work.

  73. meter says:

    Even with these “backbreaking” paper high rates of taxation on the pitiable, downtrodden rich (which we all know cannot be schemed or loopholed in any way, shape or form), whatever payments actually do end up going to the government are basically bribes for protection and/or future windfall payouts that far exceed whatever taxes are paid.

    Examples:
    – Protection from legal recourse in the form of an increasingly fascist Supreme Court
    – Import/export protectionism
    – Corporate welfare
    – Toothless regulatory entities (e.g. the worthless SEC)
    – Cronyism

    and so on.

  74. meter says:

    By the way, my contempt for the rich is aimed at the top 1 percenters in this country who own somewhere between 35 and 40 % of the wealth (and growing, percentage-wise).

  75. meter says:

    @71

    Good luck testing and certifying the quality of your food, medicine, machinery, and any other goods you purchase in the marketplace.

    Air safety? Rail safety? Public safety? You’re on your own.

    You think toll roads are odious now? You will be figuratively nickled and dimed to death en route to wherever it is you want to go.

    You want legal recourse for wrongdoing? Only for the most egregious cases and possibly not even then.

    Free markets and no government sound absolutely utopian until you think about what that actually looks like in practice.

  76. NJGator says:

    More than 200 Newark police officers may face layoffs due to $16.7M budget shortfall

    NEWARK — If Newark can’t close a $16.7 million deficit in its police department’s budget by November, the administration would have to lay off 263 police officers in a city historically plagued by crime, according to budget documents obtained by The Star-Ledger.

    Even if the department makes several cost-cutting measures — including civilian layoffs and eliminating school crossing guards from the police department’s 2010 and 2011 budgets — the agency would still face an $11 million shortfall and be forced to layoff 181 officers, the document said.

    These layoffs would only be necessary if police unions won’t agree to furloughs and uniform and gas allowances, Mayor Cory Booker said.

    “There’s a way to get through this last $17 million without laying off one police officer,” Booker said. “But the unions have to be flexible.”

    Union leaders, who represent about 1,300 officers, say the city has had budget crises for years, and their contract was negotiated just last year. They said they’re not willing to make concessions.

    “I’m not going to be the culprit in this political game that he’s playing,” Derrick Hatcher, president of Newark’s Fraternal Order of Police, said of Booker. “He’s going to have to answer to his constituents for the lack of police services that are provided to them.”

    http://www.nj.com/news/index.ssf/2010/07/more_than_200_newark_police_of.html

  77. Mr Hyde says:

    Meter,

    keep it on context. In a true free market, things such as corporate personhood and limited liability would need to be removed. take steps like that and you quickly level the playing field between people and corporations.

    When a CEO can be held personally and criminally responsible for the dumping of toxic waste or improper rail maintenance that leads to a death you just might see behavior change.

  78. yo'me says:

    Fire and emergency officials were scouring the scene for potential victims after a parking garage collapsed at a New Jersey apartment complex on Friday. It was unclear if anyone had been trapped or injured.

    NorthJersey.com reported at least two people were missing after the one-story portion of the garage crumbled. A call to the fire department at Hackensack, N.J., could not confirm reports of injures or fatalities.

    Rescuers were trying to reach people who may have been trapped inside their vehicles underneath the 18-story apartment towers at 300 Prospect Ave., the NBC affiliate reported.

  79. Essex says:

    Has anyone ever stopped to think for a minute that we get what we deserve here? From the weasels elected to serve us to the corporations in business to fleece us. We are fine with it all. Same as it ever was.

  80. JPasteurized says:

    Paging Kyl and McConnell…

    http://www.nytimes.com/2010/07/17/business/economy/17consumers.html?hp

    “For now, some affluent spenders are getting thrifty. Linda Stasiak, who sells high-end skin care products to retailers like Whole Foods, said that her biggest sales increase had been for a $15.95 tube wringer, made to get every last drop out of a bottle of lotion.

    ‘During peak time, I don’t even really remember selling them,’ Ms. Stasiak said.”

  81. meter says:

    @76

    In many forms of libertarianism (not all), there is no such legal recourse. There is no concept of tort law.

  82. Shore Guy says:

    “More than 200 Newark police officers may face layoffs due to $16.7M budget shortfall”

    Seniority sucks if you are not senior but, for those who remain, think of the overtime they will be getting?

  83. wtf says:

    (70) “We’ve never had unbridled free markets in this country. I’d love to see it tried. I think it would work.”
    ——————————
    Ever read “The Jungle” by Upton Sinclair? Obviously not.

  84. grim says:

    81 – A bluff. You’ll need to wait to the 11th hour.

  85. Ben says:

    I can’t live with regulatory agencies in the market. What I obscenely object to is fixing interest rates and running perpetual deficits and consistently relying on debasing the currency to hit the reset button.

  86. Ben says:

    oh, and 1 other thing I can’t stand, subsidies & price fixing

  87. meter says:

    @84 – if you meant to say that you *can* live with regulatory agencies (e.g. the FDA, the FAA), but that you reject the Fed and our spend and spend government, I agree.

  88. freedy says:

    Hey , wait a minute I thought they said Newark was an up and coming Business Hub.

  89. Final Doom says:

    wtf (82)-

    In ninth grade, dipstick.

  90. Ben says:

    meter, good catch, I meant that I can stand regulatory agencies. America can have a productive sound economy with regulatory agencies. American can’t have a sound economy with the Fed manipulating interest rates and the money supply along with the treasury endless pushing demand forward with trillion dollar deficits.

  91. DL says:

    Gov’t has lost it legitimacy. It’s going to get ugly.

  92. Confused in NJ says:

    Army suicides hit record number in June
    By Liz Goodwin

    Thirty-two soldiers took their own lives last month, the most Army suicides in a single month since the Vietnam era. Eleven of the soldiers were not on active duty. Of the 21 who were, seven were serving in Iraq or Afghanistan, the Department of Defense said.

    Army officials say they don’t have any answers to why more and more soldiers are resorting to suicide.

    “There were no trends to any one unit, camp, post or station,” Col. Chris Philbrick, head of the Army’s suicide prevention task force, told CNN. “I have no silver bullet to answer the question why.”

    Last year, a record-breaking 245 soldiers committed suicide. The Army seems on track to surpass that number this year, as 145 soldiers have taken their lives in the first half of 2010.

    Tim Embree of the Iraq and Afghanistan Veterans of America testified Wednesday before the House Veterans Affairs Committee that many soldiers fear seeking help.

    “The heavy stigma associated with mental health care stops many service members and veterans from seeking treatment,” he said. “More than half of soldiers and Marines in Iraq who tested positive for a psychological injury reported concerns that they will be seen as weak by their fellow service members.”

    He pointed out that the statistics don’t include the number of veterans who end their own lives. That figure surged 26 percent from 2005 to 2007, according to the Veterans Affairs Department.

    The Army has a 24-hour suicide prevention hotline, and has videos and other resources on its website. The Army’s new suicide prevention video features a soldier talking about his own failed suicide attempt after his wife said she wanted to divorce him. The rifle he used to try to kill himself didn’t fire, he says, and he later found out his comrade had disabled it because he was worried about him

    They are paid substantially less then Police, both active pay & retirement benefits, and job’s are apparently substantially more dangerous. They need a better Union.

  93. Comrade Nom Deplume aux maison says:

    [60] meter

    ” Let them try to survive in a place where the federal, state and local governments aren’t protecting them and their schemes.”

    That may well be right here. Idle wealth is not taxed at all, except at death and only if includible in the estate. And with munis paying record levels, if you are rich enough, you can retire and live nicely off your relatively untaxed earnings.

  94. Mr Hyde says:

    Confused 91

    how about we pay cops no more then what we pay troops? You think defense is expensive now???? try raising soldier pay to the average police pay!!!! You would probably nuke whats left of the national budget with that single move

  95. Mr Hyde says:

    WTF 82

    “The Jungle” could easily be rewritten today. I know what ends up in some american pharma products. I cant even imagine what is coming out of china and India!!!!

  96. Comrade Nom Deplume aux maison says:

    [80] meter

    “In many forms of libertarianism (not all), there is no such legal recourse. There is no concept of tort law.”

    Actually, I disagree. In fact, the philosophical underpinnings of libertarian thinking are clearly based on a tort law concept.

    In a libertarian society, anything that does not harm others is presumed legal. Thus, our right to throw your fist ends just before my nose. Conversely, and by implication, injurious conduct would not be tolerated. To suggest that a libertarian society would either not recognize injurious conduct, or would endorse self-help, seems to me to both oversimplify and misconstrue libertarian values (by essentially suggesting that there are no values).

    That isn’t to say that there are not problems with this model: For example, in a libertarian society, BP would be required, as a matter of law, to clean up its mess, but would not be required to have taken extraordinary action to prevent it in the first place. Because the harm from a single first incident can be catastrophic or irreparable, tort law may be insufficient, both as a legal means of redress and as a governing philosophy. Hence, we have regulation.

  97. Confused in NJ says:

    93.Mr Hyde says:
    July 16, 2010 at 1:49 pm
    Confused 91

    how about we pay cops no more then what we pay troops? You think defense is expensive now???? try raising soldier pay to the average police pay!!!! You would probably nuke whats left of the national budget with that single move

    Or pay them the $100/mo I got for Nam in the 60’s, when we had the Draft. Did my College at night afterwards on GI Benefits. Of course that only applied to those not killed. Death Benefit Insurance was $10K.

  98. Mr Hyde says:

    Doom 8

    RE Gubmit Mules…

    http://www.youtube.com/watch?v=xwhBRJStz7w

    You’re keeping in step
    In the line
    Got your chin held high and you feel just fine
    Because you do
    What you’re told
    But inside your heart it is black and it’s hollow and it’s cold

    Just how deep do you believe?
    Will you bite the hand that feeds?
    Will you chew until it bleeds?
    Can you get up off your knees?
    Are you brave enough to see?
    Do you want to change it?

    What if this whole crusade’s
    A charade
    And behind it all there’s a price to be paid
    For the blood
    On which we dine
    Justified in the name of the holy and the divine

    Just how deep do you believe?
    Will you bite the hand that feeds?
    Will you chew until it bleeds?
    Can you get up off your knees?
    Are you brave enough to see?
    Do you want to change it?

    So naive
    I keep holding on to what I want to believe
    I can see
    But I keep holding on and on and on and on

    Will you bite the hand that feeds you?
    Will you stay down on your knees? [8X]

  99. Mr Hyde says:

    Doom,

    or if you prefer:

    http://www.youtube.com/watch?v=O5xuY3OFHvA

    I didn’t want to know
    I just didn’t want to know
    Best to keep things in the shallow end
    Cause I never quite learned how to swim

    I just didn’t want to know
    Didn’t want, didn’t want,
    Didn’t want, didn’t want

    Close my eyes just to look at you
    Taken by the seamless vision
    I close my eyes,
    Ignore the smoke,
    Ignore the smoke

    Call it aftermath, she’s turning blue
    Such a lovely color for you
    Call it aftermath, she’s turning blue
    While I just sit and stare at you

    Because I don’t want to know
    I didn’t want to know
    I just didn’t want to know
    I just didn’t want

    Mistook their nods for an approval
    Just ignore the smoke and smile

    Call it aftermath, she’s turning blue
    Such a lovely color for you
    Call it aftermath, she’s turning blue
    Such a perfect color for your eyes
    Call it aftermath, she’s turning blue
    Such a lovely color for you
    Call it aftermath, she’s turning blue
    While I just sit and stare at you

    I don’t want to know

  100. meter says:

    @95 –

    “That isn’t to say that there are not problems with this model: For example, in a libertarian society, BP would be required, as a matter of law, to clean up its mess…”

    Your interpretation of libertarianism is 180 degrees from everything I’ve read, and I’ve read extensively.

    In that scenario, BP would be required to compensate the owner of the property upon whose rights it impinged. Please tell me who owns the Gulf of Mexico in libertarian la-la-land.

    Google “tragedy of the commons” and get back to me.

  101. Happy Daze says:

    From the chart of monthly YOY data, there is an applicable quote from an old tv commercial:

    “I’ve fallen, and I can’t get up!”

  102. Barbara says:

    concerning the double dip: sprinkles or jimmies?

  103. Comrade Nom Deplume aux maison says:

    [99] meter,

    My god, you are gonna toss that useless undergraduage Philosophy 101 stuff at me?

    Again, you postulate that libertarianism = statelessness, and that there is no recourse for harm done by others. First, as the Tragedy admits, private property ownership limits harm. For the harm that cannot be constrained by private ownership (pollution being the common example), therein lies the tort recourse. Recall that the English legal system grew out of a system that valued the near inviolability of private property and maximum personal freedoms, and the tort-based system is what resulted.

    But I expect you to persist in your view that libertarianism is a lawless and Malthusian state. At least that is what you learned as an undergrad, or as a philosophy grad student. But even in such a state, there will be, at a mimimun, self-help. Thus, if my neighbor keeps dumping toxic farm waste in my water supply, I burn down his house and barns.

    Finally, you obviously reject your well-studied theories of libertarianism for their obvious flaws, the least of which is the fact that you either philosophically disagree with the central tenets of libertarianism that promote self-reliance and individual responsibility, or you have made a rational decision that libertarianism doesn’t work for you (or, more precisely, that you question your ability to function in such a society). Both are valid and rational approaches, but they fail to explain why libertarianism cannot work in some form (just as socialism may work in some form).

    There is a reason I reject pure philosophical thinking, like the Tragedy of the Commons, or Marxism. Philosophy learned in a vacuum only works in a vacuum. It doesn’t explain pyschology or economics; it doesn’t account for distortions or elasticity in behavior. Try stress-testing those theories you learned with some real-world, cross-disciplinary analysis.

    Baby’s awake, gotta go.

  104. Final Doom says:

    plume (92)-

    That’d be great…were it not for the fact that the muni market is about to collapse.

  105. Final Doom says:

    plume (103)-

    The guy is a brainwashed, collectivist dolt. Just another pussy who’s decided to bend over, take it and declare that it feels good.

  106. Final Doom says:

    Drat. Moderated again, for calling meter a pu$$y.

  107. marilyn says:

    I have no hate for the rich. I personally think they do alot of good. Certain rich people you would never know they are rich. They live very simple the one’s I know and give a hell of alot back! I wish more people were like the rich people I know!!

  108. House Whine says:

    106- Flip side to what you just stated is that some of the richest family I have are the cheapest people I know. They have terrible social skills. Living simply yes, but nickle and diming everyone else, well , not so much. It’s actually embarrassing.

  109. RayC says:

    OK – why do I get jury duty right after getting laid off? Is that the sense of humor life has now? I guess it does give me something to do though.

  110. A.West says:

    Meter,
    You got served by Nom. It seems like the only libertarians you’ve been exposed to are the hippie ones that fantasize about controlling a private police force while smoking weed. Not that I like libertarians as a political party, anyway, but they’re still 1,000 times more tolerable than the collectivist redistributionists like yourself.

    So my $100k/yr in taxes is my bribe to keep the underprivelidged from taking my property by force? It appears that you think that the term “earned income” is an oxymoron. Well, that’s the sort of talk that makes me want to take gun lessons from Clot.

    Who is John Galt?

  111. Nicholas says:

    House Wine,

    I heard someone say the following statement, “You don’t get rich by giving your money away.” Years later when I asked him to clarify what he meant he said, “I’m soooo past that right now, I’m stooopid wealthy. I can give my money away if I want.”

  112. Final Doom says:

    West (111)-

    Lesson #1? Just point and shoot.

    “Well, that’s the sort of talk that makes me want to take gun lessons from Clot.”

  113. Final Doom says:

    In Bojangles’ nightmare of “collective national redemption”, rich people got that way by taking what they have from someone else. Hence, it’s our job as a nation to take it back and redistribute it. Even megamorons such as Glenn Beck have pointed out the obvious about such a belief.

    This is one of the most idiotic (not to mention, cynical) concepts floating around the US right now. It assumes that all personal economics are a simple zero-sum game, which is rigged in favor of individuals who already had a lot going into the game. It is also tailor-made for delivery to a self-loathing liberal voter base, as there are identifiable winners and victims…along with a heaping dose of suspension of judgment and “everyone wins a trophy”-type silliness. The unspoken, underlying assumptions here are also that the rich cannot and do not: a) give millions to charities; b) create jobs and c) generate wealth for others as well as themselves.

    Going into November, the blunt reality is that the aforementioned liberal voter base is now shrinking, as poor and middle-class liberals are getting an upfront and very personal crash course in how liberalism doesn’t work. Many of these folks- in one way or another- aspire to the levels of success and comfort the wealthy have achieved. It is not intelligent- or productive- at this point to demonize and excoriate through taxation people who symbolize and personify the aspirations of so many others.

    If a brother can’t get rich or die trying…because getting rich isn’t worth the damn trouble it brings…the alternatives are rather frightening, even to somebody like me, who really and truly doesn’t even much care anymore.

  114. Final Doom says:

    BTW, I think the classic quote is: “you don’t get rich by splitting your money with other people”.

  115. Essex says:

    According to the Marilyn Monroe Memories web site, Monroe bought the home for $90,000. “This was the first property that Marilyn Monroe ever owned. She took out a mortgage which started on 1st March 1962, was for 15 years, and Marilyn made monthly payments of $320. The house was situated at the end of a small cul-de-sac, and was very private, away from the busy roads.”

    The house last sold in 1994 for $995,000. Asking price now is $3.595 million.

  116. Yikes says:

    Mr Hyde says:
    July 16, 2010 at 8:53 am
    May i remind people of a perfect example. in 1920/21 (Oct 1920 market dropped 33%) we had a mini crash as a result of the FED keeping interest rates artificially low in order to keep Victory Bond prices high ( in order to fund WWI) . President Harding refused to play the bailout game. As a result the market corrected quickly and brutally efficiently. Those who made bad loans or couldnt pay back loans immediately went bust and got wiped out. The crash was the result of the the bubbles blown to fuel WWI. As the war ended the bubble/s began to burst. As a result of letting the econonic system purge itself unemployment went from near histporic highs in 1921 to about 2.5%

    Hyde, i don’t doubt you on this, but do you have a source? Would like to read more.

  117. Essex says:

    113, On the flip side….most of these people are simply overpaid, underperforming corporate welfare whores. Something to aspire to….I know.

  118. Confused in NJ says:

    TRENTON, N.J. (CBS) ― Click to enlarge1 of 1
    New Jersey’s motor vehicle chief says the state will stop inspecting privately owned motor vehicles for mechanical defects beginning Aug. 1.

    Motor Vehicle Commission Chief Administrator Raymond Martinez, who was nominated by Gov. Chris Christie this past February, said Friday that vehicles will still be tested for emissions, but not until they’re five years old.

    Martinez said the changes will save the state about $17 million a year.
    New Jersey will become the 30th state that doesn’t inspect for mechanical defects.

    Martinez said the MVC will continue a public education campaign to encourage motorists to take proper care of their cars and trucks. Police can still cite motorists for equipment problems such as broken headlights or tail lights.

  119. Barbara says:

    Final Doom

    “Many of these folks- in one way or another- aspire to the levels of success and comfort the wealthy have achieved. It is not intelligent- or productive- at this point to demonize and excoriate through taxation people who symbolize and personify the aspirations of so many others.”

    Actually, its this very mentality that has help fuel a credit crisis and allowed a blind eye toward rampant illegal immigration and all its rationale. When regular folks “aspire” (delude themselves) that they too can be the next Trump, Gates…*fill in the blank* – you get the “cut my OWN lawn??? would Steve Jobs cut his own lawn?? Let The Mexican do it, I *aspire* to do better.” “live in a modest house in a so-so neighborhood? Never, that’s loser talk. I’m an undiscovered genius, I’ll float that credit and pay it off when I make it big.”
    There’s something to be said for humility and realistic expectations and honest work.

  120. Fabius Maximus says:

    #103 Nom.

    I disagree.
    What we have here is wHere Libertarianism breaks down. The whole ideology has split down into so many warring factions over the years, they should scrap the term. You and Meter could be like Chomsky and Goldwater sitting down in a bar. Classical vs Conservative. While there is agreement on the rights of the individual, get into the New Deal and they’ll be going over the table at each other.

  121. grim says:

    From the FDIC:

    Bank Closing Information – July 16, 2010

    Mainstreet Savings Bank, Hastings, MI
    Olde Cypress Community Bank, Clewiston, FL
    Turnberry Bank, Aventura, FL
    Metro Bank of Dade County, Miami, FL
    First National Bank of the South, Spartanburg, SC
    Woodlands Bank, Bluffton, SC

  122. Fabius Maximus says:

    #110 A West

    You really need to get off that one dimensional view of Atlas Shrugged. Yes it is a great book and makes some very good points, but there are some serious flaws in it. There are a lot of fundamental questions that are skipped over.

    Here’s a question, what if all the workers took off to their great Collectivist Nirvana, were does that leave John Galt? Standing in an empty factory with quiet machines and a motor design that can’t be built and therefore can’t be sold. So a nice design on paper that has no real world value. The true value of Galt capitalism is the value of labor.

    So what happens in the Collectivist Nirvana, we’ll they know how to build what they already build and they know how to consume what they already consume. While they don’t have the beautiful people to design new things, the have the gvmt to provide the capitalist role in running the factories and running the finances. So no difference to them.

    What if all the beautiful talented people dance off into Nirvana, the Collectivist gvmt fails? Umm, don’t think so. By the way, who takes the trash out in Galts Gulch. And doesn’t the fact that Galt sells his static electric inexpensively, to the other inhabitants defeat the purpose of the book. He moves from a society that does not respect him to be capitalisti, to move to a place where he cannot be capitalistic.
    An interesting exercise would be to run the numbers on Galts Gulch to see if you can make that economy work. Lets’s see how long the opera singer lasts when Mulligan jacks the rents to pay D’Anconia’ for raw materials whose price has gone up because Galt jacked the cost for electricity as he needed to pay the doctor for Dagneys medical bills. And so on and so on.

  123. grim says:

    From Bloomberg:

    N.J. Property-Tax Cap Earns Wealthy Town a Downgrade

    North Haledon, a northern New Jersey suburb where the median family income is 162 percent of the U.S. average, had its debt rating cut amid concerns that the state’s new 2 percent property-tax cap will strain borough finances.

    Moody’s Investors Service downgraded the town of 9,000 residents one level to A1, the fifth-highest investment grade, from Aa3, and assigned a negative outlook, which means a further cut is possible. The moves affect $7.8 million in general obligation bonds rated by Moody’s out of $21.4 million in debt.

    North Haledon Mayor Randy George, a Republican like Christie, and the community’s auditor, Chuck Ferraioli, rejected Moody’s conclusions.

    “I have zero respect for Moody’s,” Ferraioli said in a phone interview from his office in Pompton Lakes. “We’re paying our debts and we always will. Moody’s is so out of touch.”

    North Haledon, which has a AA rating from Standard & Poor’s, that firm’s third-highest, is the latest New Jersey municipality to get a Moody’s downgrade in the face of declining state aid and limits on increasing the nation’s highest property taxes. Since Dec. 1, the firm has reduced its ratings on at least 18 New Jersey communities, according to Bloomberg data.

  124. Final Doom says:

    All the ratings agencies should be shut down and the executives put to death.

    Short of that, every town in NJ should encourage ratings agencies to downgrade their debt to junk. Then, every single one of those towns should declare bankruptcy and void all their municipal contracts.

  125. Final Doom says:

    Rusty Trombone, where are you when we need you?

    Rusty gold? Not so good. Maybe the Russians can claim they bought all this crap from Jamie Dimon.

    “Here’s a head scratcher: as everyone knows from elementary chemistry courses, gold is the most inert metal in the world – it does not rust, nor corrode. Yet this is precisely what Russian commercial precious metal trading company, International Reserve Payment System, discovered on thousands of (allegedly) 999 gold coins “St George” (pictured insert) issued by the Central Russian Bank. The serendipitous discovery occurred after various clients of the company had requested that their gold be stored not in a safe, but in a far more secure place: “buried under an oak tree.” As the website of IRPS president German Sterligoff notes: once buried, “the coins began to oxidize under the influence of moisture.” And hence the headscratcher: nowhere in history (that we know of) does 999, and even 925 gold, oxidize, rust, stain, spot or form patinas, under any conditions. Furthermore, as IRPS discovered, Sberbank of Russia released an internal memorandum ordering the purchase of the defective coins with the spotted appearance. Sterligoff concludes: “It should be noted that the weight and density of the rusty coins coincide with the characteristics of gold that would be expected after after conventional testing methods would reveal. We think that the experts will be interesting to determine the nature of this phenomenon.” So just how “real” is 999 gold after all, either in Russia or anywhere else?”

    http://www.zerohedge.com/article/rust-discovered-bank-russia-issued-999-gold-coins

  126. nj escapee says:

    anyone’s guess how much fraud is built into the precious metals markets? bad metal, bad paper. jeez o man!!

  127. Final Doom says:

    Every tangible good and commodity should be rated and graded with a fraud handicap.

    You could sorta think of it like a pointspread.

  128. Revelations says:

    Nice Case-Shiller tool:
    http://macromarkets.com/apps/gap_gauge/

    Sorry if this has already been posted.

    NY Metro not.. quite.. there.

  129. gary says:

    Geezus, do I miss all the fun here during the day. I actually get some work done because I can’t access njrereport! :) I gotta work on breaching that company firewall. Doom, great post at 113, btw.

  130. Al says:

    Final Doom says:
    July 16, 2010 at 10:01 pm

    Rusty Trombone, where are you when we need you?

    Rusty gold? Not so good. Maybe the Russians can claim they bought all this crap from Jamie Dimon.

    One bottle of beer and this site comments CRACK ME UP.

    As far as rusty gold – denomination is 50 rubles – -about 1.80$ USD. No way it is real gold. it is some nickel-steel allow coated with bronze.There are couple of Russian coins but they are 100 rubles and 200 rubles denomination.

    So the post is fake but funny.

    P.S. Anyways what do i know: I was stupid enough to move from NJ to PA and ended up in an area with higher taxes.

  131. Revelations says:

    Nom @103,
    Probably a bit out of my league here, but I think you just stated why libertarianism fails right out of the gate in America:

    “central tenets of libertarianism that promote self-reliance and individual responsibility”

  132. Revelations says:

    Meter,

    Have you read this book?
    Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill)

    If not, don’t. It severely affected my disposition for weeks. Negatively, that is.

  133. Orion says:

    Foist

  134. still_looking says:

    Barbara 121

    Amen, sister.

    I switched residencies. In between, I couldn’t work as a “doc” – I was still applying for a state license so I could work. I looked for work. Jobs were pretty limited and I need one asap.

    I interviewed with shady folks that wanted me to immediately get a Medicare number (you need this to bill for services.) In retrospect, they were likely Medicare scammers. The job entailed doing house calls. I crossed that off my list.

    Finally, cut my resume in half and looked for other work. After twenty years of working appliance installation with my dad, I got enough knowledge to work the electrical dept at Home Depot. Worked there while interviewing for residencies and waiting for “Match Day” in March when all applicants find out where they are training.

    I guess because I knew it was short term, I enjoyed it. Won a few “Homer” awards for good work, got in rip-tearing awesome shape – it was like an aerobics class for 8 hrs at a time. Constant non stop movement. Got encouraged by other workers to “slow down, they’ll expect all of us to work like you.”

    And it paid the rent, I got first dibs on the “marked down” stuff, met some interesting people and actually had fun there. I still have my company issued tape measure, low back protector and utility knife. :)

    sl

  135. New in NJ says:

    Revelations #130

    Nice interactive chart. I haven’t seen that one before. I especially like being able to select the metro area and tier.

  136. New in NJ says:

    Wow sl, you can patch drywall AND gunshot victims?

  137. Final Doom says:

    new (139)-

    In most cases, I bet the drywall is a more worthy project.

  138. New in NJ says:

    Doom, in most cases I’d bet you’re right.

  139. still_looking says:

    lately I’d much rather spackle walls, than humans… just an observation.

    sl

  140. grim says:

    Really, 97 today, is this necessary?

  141. still_looking says:

    It was still pretty novel (recall, this is almost 15 yrs ago) to see a girl that could speak “construction-ese and contractor-ese.” Or knew wire gauges, circuit breakers, 220 from 110 and that being “grounded” was a good thing.

    sl

  142. still_looking says:

    And it didn’t hurt that I was about 105# and wore tight Levis to work. :)

    sl

  143. grim says:

    I’m going to die on the bike today. Need an extra angry playlist for motivation.

  144. still_looking says:

    grim, 145

    May I recommend “Disturbed?” good angry stuff there!

    sl

  145. Shore Guy says:

    ” I thought they said Newark was an up and coming Business Hub”

    It is. Just remember, nobody said anything about legal business.

  146. Shore Guy says:

    The Sound of White Noise (Anthrax) is a great album for physical activity.

  147. NJCoast says:

    May I recommend “Disturbed?” good angry stuff there!

    sl

    Those tusks coming out of that guys chin are wild. His rider asks that no pork be served- he’s kosher!

  148. grim says:

    Hmm, can’t do it. Too dark, not enough energy. My angry ride playlists are almost always early hardcore and skate punk.

  149. Cindy says:

    http://baselinescenario.com/2010/07/16/treasury-makes-a-mistake-claiming-they-are-not-blocking-elizabeth-warren/

    News on Elizabeth…

    ” Failing to appoint Elizabeth Warren would be the straw that breaks the camel’s back. It will go down in the history books as a turning point – downwards – for this administration.”

  150. gary says:

    grim,

    Motorhead… enough said.

  151. Cindy says:

    http://www.voxeu.org/index.php?q=node/5307

    Anyone heard of this?

    “The responsible homeowner reward: An incentive-based solution to strategic mortgage default”

  152. Mr Wantanapolous says:

    “In most cases, I bet the drywall is a more worthy project.”

    Doom,

    Busted a gut.

  153. Mr Wantanapolous says:

    Cindy [157],

    Why would the looters want to appoint a squeaky, clean sheriff? I would luv to see her in the ring with Timmy G.

  154. nj escapee says:

    ROFLMAO

    Best places for the rich and single
    We’re not saying you’re a gold digger. But you could follow the money to these 25 affluent cities, where singles are abundant.
    17 of 2517. Piscataway, NJPopulation: 53,423
    Single: 31%
    Median family income: $99,032
    You might find brainy engineers who work for telecoms like AT&T and Verizon or style-conscious marketers for cosmetic giants like L’Oreal and Chanel in the historic streets of the 50th oldest town in the nation. Residents enjoy Piscataway’s local restaurants and theater productions performed by Rutgers University students. On the weekend, you can escape to the Jersey Shore, to hang with Snooki and the Sitch or keep it low-key a little further south at Barnegat Light. –H.Y.

    http://money.cnn.com/galleries/2010/moneymag/1007/gallery.best_places_rich_single.moneymag/17.html

  155. nj escapee says:

    Best places for the rich and single
    We’re not saying you’re a gold digger. But you could follow the money to these 25 affluent cities, where singles are abundant.
    17 of 25 #17. Piscataway, NJPopulation: 53,423
    http://money.cnn.com/galleries/2010/moneymag/1007/gallery.best_places_rich_single.moneymag/17.html

  156. gary says:

    Washington is the only metropolitan area in which the number of advertised job vacancies in May (201,000) was greater than the number of unemployed (184,600), according to the Conference Board.

    I’ll let you figure that one out.

    By contrast, the New York area had 298,700 online job ads in May — highest among the nation’s metro areas — yet the supply of jobs does not meet demand. The region counted 828,400 unemployed people, an 8.7 percent jobless rate, according the U.S. Bureau of Labor Statistics.

    Buy that 3bd/2bth p1ss reaking piece of sh1t for $600,000 or be priced out forever! Interest rates are at historic lows and there’s plenty of inventory! I read that on the Sue Adler website! I’m going to finish cutting my scorched lawn then finish painting the living room. That’s what us homeowners with equity tend to do.

  157. BeachBum says:

    Poor little CEOs – I sure do feel sorry for them!
    http://www.slate.com/id/2260634/

  158. A.West says:

    Grim,
    Devo – Duty Now For the Future.

  159. 250k says:

    The devastation in the Brig continues:

    Past week’s Westfield Closings

    2749559 LP: 419 SP: 412
    DOM: 30

    2776077 LP: 599 SP: 610
    DOM: 28

    2772786 LP: 889 SP: 920
    DOM: 18
    (Almost a millie for a home that still uses window A/C units.)

    2741237 LP: 899.9 SP: 847.5
    DOM: 110

    2739138 LP: 1,150 SP: 1,035
    DOM: 115

    2761781 LP: 1,149 SP: 1,025
    DOM: 45
    (This one had a recent previous sale, 9/07, sold for 1,080. It’s a bloodbath I tell you.)

    2724391 LP: 1,195 SP: 1,100
    DOM: 209
    (Recipient of Westfield Historic Preservation Award. )

    2763797 LP: 1,350 SP: 1,351
    DOM: 9
    (What do you suppose this negotiation went like?)

    2762285 LP: 1,975 SP: 1,775
    DOM: 73

    … anyone want to argue that these sales were mainly driven by the tax incentive? Really?

    Now gimme three steps towards the door.

  160. grim says:

    Welcome back Richard, where ya been?

  161. 250k says:

    I have nothing to sell James. Just sharing data.
    (Do we know if he ever did sell his house? It came with a red leather couch didn’t it?)

  162. me@work says:

    It’s too fu.cking hot outside.

    sl

  163. gary says:

    Not for nothing but if I’m dropping a million plus, it isn’t gonna be in f*cking Westfield. Two miles to my left is Plainfield and three miles to my right is Elizabeth. I know the area very well as my cousins lived in Scotch Plains and I had friends for years that lived in Westfield. Garwood is next door as well as Clark which are ehh… ok towns, I suppose. Do the women in Westfield know how to pull the blonde pony tail through the back of their Yankee hats while pushing Schmutzi in his bugga boo stroller with the puggle in tow? If your gonna drop that kind of change, go up the hill to New Providence or Mountainside or Warren. Brigadoon is just another wannabee town.

  164. gary says:

    your = you’re (sometimes)

  165. grim says:

    That was duck, not Richard.

  166. Mr Hyde says:

    Yikes 124

    google it. Plenty of sources out there and a number of different versions of the events

  167. Mr Hyde says:

    Re libertsrianism:

    “central tenets of libertarianism that promote self-reliance and individual responsibility”

    any population that really embraced these principles would be a politicians/governments worst nightmare, as any such population is essentially ungovernable. The only tasks left to the government of such a people is trade relations and border activity.

    In such s society you don’t get a trophy just for participating, failure would be allowed and common.

    The period of revolutionary America and the expansion of the west probably wasn’t too far from this

  168. Mr Hyde says:

    Yikes

    re depression/recession of 1920

    start here:
    http://en.wikipedia.org/wiki/Depression_of_1920%E2%80%9321

    then check other sources.

    I have 2 different hardback history texts that cover this event and they both agree with the general events described in the wiki link

  169. New in NJ says:

    Slow day on the blog today.

    The wife and I went to the beach. We just got back.

    The water was delicious.

  170. Mr Hyde says:

    Very interesting article, especially if you know Memphis at all.

    Doom take a look

    http://www.theatlantic.com/magazine/archive/2008/07/american-murder-mystery/6872/

  171. Final Doom says:

    Curiouser and curiouser:

    “It appears that a Phibro/Buffett-inspired attempt to corner a commodity market is in progress. Amusingly (or not so much for chocolate mousse cake makers), it is occurring in the relatively compact and illiquid cocoa market, where the WSJ reports ten brokers (mainly BNP Paribas) took possession of more than 240,000 tons of cocoa, valued at as much as $1 billion, leaving just 6,710 tons available for purchase. The Telegraph adds some further color: “The cocoa beans, which are sitting in warehouses either in The Netherlands, Hamburg, or closer to home in London, Liverpool or Humberside is equivalent to the entire supply of the commodity in Europe, and would fill more than five Titanics. They are worth £658 million.” This is nothing less than an attempt to squeeze existing shorts, with an emphasis of the on the run, July contract. Indeed, the backwardation between July and September has surged to 11%, even as the settlement price on the continuous front-month, closing at $3,165, approaches all time highs: “Thursday, cocoa for July delivery settled at £2,732 ($4,221) a metric ton. Friday, the new front-month contract, for September delivery, rose 1% to £2,445 a metric ton.” And that’s not all: “Already, cocoa for September delivery is trading at a big premium to December cocoa, sparking talk that another run on inventories may occur when the September contract expires.” In other words, with half of America beckoning diabetes with open arms, a rather sharp bout of inflation is about to be felt for all those whose daily calorie intake is over 2,000. Incidentally, this is precisely the kind of action that would happen if and when someone had the urge to pull a Buffett and send the price of gold and silver through the roof (and destroy JPM and the LBMA in a matter of hours).”

    http://www.zerohedge.com/article/phibro-takes-willy-wonka-chocolitango-futures-market-reeks-physical-squeeze-attempt

  172. Final Doom says:

    hyde (176)-

    Sounds like it could’ve been written when I was growing up there. There’s a reason I’d never go back.

    The only time this city hasn’t been the US version of Mogadishu was for a few boom years in the ’90s. And it happened because the gubmint drew in companies by giving them blanket tax moratoria.

    I think Memphis would now be a perfect place to test policing by robots.

  173. Mr Hyde says:

    Doom

    without taking a stance on the matter, I found it interesting that the author was worried about middle class people using the data as justification for NIMBY.

    Yet the data clearly shows that an influx of section 8 will bring the crime with it.

    The popular stance is that the poverty and crime is geograhical yet the data suggests it’s cultural.

    In the end I have no doubt the issue is cultural. Not racial but cultural. We as a nation have raised successive generations to be dependent on government for everything except wiping their a$$. Heck the MSM will even do your thinking for you. Just tune into the nightly news for updates on your latest talking points and what you should be outraged at today.

    We have raised successive generations of parasites across all socioeconomic boundaries, it’s just that the results of doing so in the lower socioeconomic groups is a little more in your face and uglier

  174. Mr Hyde says:

    Doom

    the hubris in the accepted policies that the article discusses is astounding!

    They really though that just because a handful of heavily screened, handpicked families were somewhat successfully moved from projects to middleclass neighbirhoods, that you you dump the majority of housing project residents into suburbia an expect then to assimilate in any real manner?!?!

    In most places in the US the average whitebread middleclass family has more in common with a middleclass foriegner then someone from the projects.

    They actually thought that it would be a good idea to break up the few beneficial social networks that existed in that population and scatter them across a suburbia that was for all intents and purposes culturally allien?

    From the article:
    But I also met La Sasha Rodgers, who was 19 when Dixie was torn down (now she’s 21). “A lot of people thought it was bad, because they didn’t live there,” she told me. “But it was like one big family. It felt like home. If I could move back now, the way it was, I would.” She moved out to a house in South Memphis with her mother, and all the little cousins and nieces and nephews who drift in during the day. She doesn’t know anyone else on the block. “It’s just here,” she said about her new house. Rodgers may not see them right out her window, but she knows that the “same dope dealers, the same junkies” are just down the block. The threats are no less real, but now they seem distant and dull, as if she were watching neighborhood life on TV. At Dixie, when there were shots at the corner store, everyone ran out to see what was happening. Now, “if somebody got shot, we wouldn’t get up to see.”
    Rodgers didn’t finish high school, although she did get her GED, and she’s never had a job. Still, “I know I have to venture out in the world,” she said, running through her options: Go back to school? Get a job? Get married? Have a baby? “I want more. I’m so ready to have my own. I just don’t know how to get it.”

  175. Final Doom says:

    Hyde (179)-

    I’m dealing with a sick kid, so I haven’t gotten all the way thru the article. However, my experience with Section 8 here in NJ is that it doesn’t get extended to h@rdcore criminals. You see a lot of deadbeats and, perhaps, petty criminals in that program here…but perhaps that’s not because thousands of people are being moved wholesale from public housing into Section 8.

    Those public housing units that were demolished in Memphis housed families who were in them since the mid-60’s, when they were built. That’s a long, long time to be sucking on the gubmint teat.

  176. Final Doom says:

    Hyde (179)-

    Now I’ve had a chance to read that article. It is no less that a blow-by-blow description of how our entire nation is descending into complete degeneracy.

    And idiot liberals still won’t face reality and stop trying to legislate happy outcomes for all.

  177. Final Doom says:

    Sadly, I think we need to start a bigger war than the ones we’re currently in. TPTB should also probably aim to kill off at least 10-20mm of forced conscriptees to make it worth the effort.

  178. Pat says:

    Anybody with kids under 10 have non-tylnl migraine relief recs? No Rx stuff.

    She’s been getting them a lot after skateboarding (no major head hits).

  179. Pat says:

    What’s going on with those yellow brick condos right on 78 by Clinton that have the now renting sign up?

  180. me@work says:

    Pat (above)

    1) need to verify truly migraines. 2) compazine/reglan – [both Rx unfortunately] and benadryl with motrin will abort almost any *true* migraine.

    3) many causes for headache – sinus, tension (not like *I’d* know,) braces, ear pain, referred neck pains, then there’s the “bad shit” tumors, infections etc.

    4) onset, duration, frequency, severity, quality, alleviators, aggravators, associated factors: fever, nausea, neck stiffness, tooth pain, etc all make a difference as well.

    No recommendations from me. Headaches can be minor or headaches can be horrific. See pediatrician/family doc is my suggestion unfortunately.

    sl

  181. me@work says:

    other simple headache causes: low blood sugar, dehydration, (easy fixes.)

    sl

  182. Final Doom says:

    Why the f do I sleep four hours a night?

  183. Final Doom says:

    NJ Medical Kvetch Report

  184. still_looking says:

    Doom, 188

    Same as me, man. Same as me… sucks, eh?

    sl

  185. Mr Hyde says:

    186 SL

    I believe that LSD will also shut down almost any migraine, even cluster migraines. You dont need a prescription either.

  186. grim says:

    Maybe, I’d rather deal with the migraine than trip my face off for 7 hours.

  187. Pat says:

    Kay. These things start at bedtime and are concentrated behind eye or above eye. Was heading them off at the pass with Tlnl.

  188. Pat says:

    Thanks

  189. grim says:

    Benadryl/Aleve or Zyrtec/Aleve are the magic combos for me.

    Was surprised to see it in #186 – I stumbled on this one and thought it was my secret.

  190. Mr Hyde says:

    Grim

    if you get a hardcore migraine, I am willing to bet that almost anyone would jump at the offer of LSD if they new it is usually VERY fast acting.

    There is some actual medical research behind LSD used to stop migraines.

    Strangely enough for me, one I start getting visual disturbances as a prelude to a migraine, a large dose of caffine promptly followed by a hard run seems to stop it from fully coming on

  191. Mr Hyde says:

    Pat

    if they are true migraines a large dose of caffine can help. Caffine won’t help regular headaches that are just really had

  192. Mr Hyde says:

    Doom

    Hope your kid feels better!

    On a separate note, i wonder if you could get a list of section 8 addresses in NJ through a freedom of information act or similar request, and then overlay it with a crime map.

    It would be interesting to see how well the relationship holds up in the northeast.

  193. Outofstater says:

    Pat – My solution is to eat something, like a piece of bread, then two ibuprofen, a really hot shower or a hot pack on my head and a cup of coffee. If that doesn’t knock it out, I wait awhile and take an aspirin. Headaches are horrible.

  194. Final Doom says:

    Hyde (198)-

    I think it’d have to be drilled down to only the Section 8 tenants who were forcibly transitioned into Section 8 because the housing projects they were living in were being torn down.

    Much of the Section 8 tenant base in central NJ are just garden variety poor folks and folks with cognitive/learning disabilities who can take care of themselves.

  195. Final Doom says:

    Damn. Does everybody here have migraines? That’s explain the crankiness, I guess.

    I won’t complain about sleeplessness anymore here. I have maybe one headache a year, and I whimper like a baby when I get it.

  196. Final Doom says:

    Got forint? IMF cutting off Hungary tomorrow. Collapse imminent.

  197. Mr Hyde says:

    Doom

    mapping the section 8 data without drilling down could still provide interesting results

  198. Simply Ravishing HEHEHE says:

    My migraines disappeared when I got divorced.

  199. Mr Hyde says:

    Doom

    the interesting results would come from doing a time series overlay of crime and section 8 addresses over the last 20 years and watch how the trends change.

  200. Mr Hyde says:

    Hehe

    I’m sensitive to certain chemicals that trigger mine.

  201. Mr Hyde says:

    Doom

    New types of money are popping up across Mid-Michigan and supporters say, it’s not counterfeit, but rather a competing currency. Right now, you can buy a meal or visit a chiropractor without using actual U.S. legal tender….

    A chiropractic office in Lapeer County’s Deerfield Township allows creativity when it comes to payment. “This establishment accepts any form of silver, gold, chicken, apple pie, if someone works it out with me,” said Jeff Kotchounian of Deerfield Chiropractic. “I’ve taken many things.”…

    http://www.connectmidmichigan.com/news/story.aspx?id=481793

  202. Mr Hyde says:

    Another good one for you Doom.

    Roads to Ruin: Towns Rip Up the Pavement
    http://online.wsj.com/article/SB10001424052748704913304575370950363737746.html

    Those SUV’s might start to come in handy. Not sure how a honda civic or mercedes is going to like the “new” roads.

  203. lb says:

    You might want to look at cluster headaches. Unfortunately know of em too well. Especially if it’s behind eye and occurring at the same time daily/nightly. Triptans are your friends. Combination of other drugs during a cycle help as well such as Prednisone and Verapamil, under the guidance of a doc who specializes in headaches.

  204. Mikeinwaiting says:

    Clot 202 have a link, want to know more.
    Have a tentative job over in FLA. Escape from NJ, praying hard.

  205. Mikeinwaiting says:

    over = offer
    More coffee.
    Clot coming up soon?

  206. Mr Hyde says:

    Mike

    an offer in Florida????

    Congrats on the offer in general

  207. nj escapee says:

    MIW, good luck, what part of FL may I ask?

  208. New in NJ says:

    Doom #202 –
    Yep. I still have a few left from a Budapest vacation back in the mid-1990s.

  209. Final Doom says:

    Mike (210-211)-

    Go to ZH. Story on Hungary is there.

    One day in the next two weeks might be good…shoot me an e-mail: chip.hughes@att.net

  210. Mikeinwaiting says:

    Friend, you know the one with all the Mcmansions, buying restaurant on golf course. Wants me to run it. Comes with 3 bd house walking distance in the country club, (NJ E) location Vero Beach feed back well come. Ket got some free time, come hang by pool?

  211. Final Doom says:

    Mike (216)-

    Set up an entire menu that can be cooked in a fryolator, hire a kitchen full of illegals, kick back and relax.

    You can even BK, and they can’t take your house in FL.

    Heaven.

  212. Mikeinwaiting says:

    Clot 215 sounds good. Hanging on unemployment so when ever.

  213. Final Doom says:

    Mike, you gotta get your buddy to pay you cash, so you can keep collecting UE.

    Will look at my calendar and post some dates here. I need to see some 2′ high grass soon!

  214. Mikeinwaiting says:

    Clot read ZH story, do they want to screw themselves. There has to be some other reason IMF is throwing Hungary under the bus.

  215. Mikeinwaiting says:

    Clot 219 , that would be illegal.
    Gotta run, church, catch you later.

  216. still_looking says:

    I give up. Long post on headaches. Got moderated. Drat!

    Tried to correct and repost but they are lost in the blogosphere. Just too fu.cking tired to try. I’m truly doomed today.

    w/e

    sl

  217. still_looking says:

    one last try… might be two words doing it…. here goes:

    still_looking says:
    Your comment is awaiting moderation.
    July 18, 2010 at 12:15 pm

    still_looking says:

    OK. Just woke up and barely awake. Due back in the Pit at 3 so, this is bare bones:

    Girl? nearing pub-erty? Likely the start of increasing estrog.en and progester.one effects. Nighttime, over the eye can also be frontal sinusitis. But:

    Any headache that is moderate or severe, persistent and new requires a physician evaluation.

    Persistent morning headaches that are accompanied by nausea, vomiting, fever or ataxia (unsteady gait) and improve over the course of the day are tumors til proven otherwise.

    That said, dehydration, caffeine withdrawal and low blood sugar headaches are (hypoglycemia related) are usually readily cured with food, rehydration and caffeine.

    Any persistent, trauma-related headache warrants professional evaluation. Period.

    Cluster headaches would be extremely unusual in this age group. Oddly enough simple oxygen treatment can help these.

    Atypical migraines are frequently preceded by an aura. These can be “scintillating scotoma” (no, no, you dirty minded folks, these are simply shimmering dots) or a jagged lightning appearing image or even “tunnel vision” as the visual field is cut from the vasospasm (vessel squeezes shut) from the migraine. True migraineurs are readily fixed with the co.cktail of meds mentioned above.

    I could go on and on about headaches. There are textbooks dedicated to the topic – I’m just a dog-ass tired ER doc, so don’t expect epiphanies here.

    As always: this information does not imply any doctor-patient relationship between us (much as I love you all.) This information is not meant to take the place of regular and emergent medical attention that you should be seeking in the case of a severe headache.

    sl

  218. still_looking says:

    (always the damn co.ck that gets me in trouble!)

    There! fixed.

    Grim, can you delete the duplicates? Thanks – there are three duplicates!

    Off to work…

    sl

  219. Shore Guy says:

    “always the damn co.ck that gets me in trouble!”

    Many a man and woman has said the same thing. Just ask the Clintons.

  220. Simply Ravishing HEHEHE says:

    “I’m sensitive to certain chemicals that trigger mine.”

    Any named Jennifer?

  221. Mr Hyde says:

    hehe

    H3PO4.

  222. morpheus says:

    194:

    Fu*kin Pus*y. man up!

  223. House Whine says:

    Mikeinwaiting- I have stayed in Vero Beach with family who live there. Still lots of unemployed people but still lots of very rich retired people. Last time we went down we found most of the beachfront had been eroded and we didn’t like the sand at all. The Disney resort in Vero seems to be holding its own. Seems there is still money, what with all the high end homes occupied by high income retireees. However, we were bored to death at night. We drove around at 9 p.m. and it was like 1 a.m here in Jersey.

  224. Pat says:

    Thanks everybody on the headache thing.

    I did bring it up with her Ped when the bad headaches started last year. Since it was only once or twice a month, always at the same time of the day, and always in the same location, dr told me to try Tylenol at first sign. It’s been working, but I just used up my stash from pre-recall. I’ll move on to the motrin combo thing.

    Yeah, SL the Disclaimer, remember, you breaka my kid, I breaka you face. ;)

  225. Mr Hyde says:

    Pat

    Generic Tylenol (Acetaminophen) should be safe. The issue behind the Tylenol recall did not show up in the major generic Acetaminophen manufactuers.

  226. Pat says:

    Kid’s outside right now trying out her new (well, craigslist find, new to her) zero skateboard, so I know a headache is in the works for 8:37 pm.

    gotta hit CVS before it closes.

  227. Mikeinwaiting says:

    House 233 thanks for the info.

  228. Barbara says:

    Pat,
    those Tylenol grape flavored chewables are parenting GOLD after the recall that never ends. My 6 yr old will not take liquid tylenol. Luckily he is rarely sick and I have a full bottle on hand. I’ve used the Motrin too and it worked well for his fever reduction but not as well as the Tylenol. Can’t say how it worked for pain, but I take Motrin for headaches and it works well for me.

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