June Existing Home Sales

From Bloomberg:

Sales of Previously Owned U.S. Homes Probably Climbed in June

Sales of previously owned U.S. homes probably rose in June, a report may show today, a sign the recent pickup in demand will be sustained.

Purchases climbed 1.5 percent last month to a 4.62 million annual rate, matching April as the fastest since January, according to the median forecast of 76 economists surveyed by Bloomberg News. Jobless claims increased last week, another report may show.

Mortgage rates at all-time lows and a drop in prices have made properties more affordable for Americans with access to credit. At the same time, the recovery in the housing market will take time as the economy is slow to create jobs and lingering foreclosures put more homes on the market.

“We’re past the bottom and slowly recovering,” said Mark Zandi, chief economist at Moody’s Analytics Inc. in West Chester, Pennsylvania. “We might have one more bout of price weakness ahead when the foreclosure pipeline empties later in the year, but investor demand is strong and we’ll absorb that.”

The report from the National Association of Realtors is due at 10 a.m. in Washington. Bloomberg survey estimates ranged from 4.46 million to 4.75 million.

Federal Reserve Chairman Ben S. Bernanke is among those who say the housing market is improving.

Growth in construction and “historically low mortgage rates” are among “modest signs” of a housing recovery, even as some buyers show concern about personal finances and the broader economy and have difficulty meeting lending standards, Bernanke told the Senate Banking Committee this week.

This entry was posted in Economics, Housing Recovery, National Real Estate. Bookmark the permalink.

159 Responses to June Existing Home Sales

  1. grim says:

    From the Philly Business Journal:

    Home sales, prices up in May compared to last year

    Two reports point to increased home sales throughout the region during May, a key month for residential real estate.

    Both Prudential Fox & Roach and Long & Foster report gains in sales and prices compared with May 2011. Chester, Montgomery and Delaware counties saw a sales increase of 29 percent, 27 percent and 25 percent, respectively, compared to year-ago levels, according to Long & Foster data. Bucks and Philadelphia counties had increases of 12 percent and 2 percent, respectively, in year-over-year home sales.

    Prices either rose or show smaller declines, an indication the home market continues to stabilize. For example, city of Philadelphia prices soared up by 7.1 percent to a median price of $139,000 compared with last year, though they haven’t returned to the median $150,000 logged in May 2010, according to Prudential Fox & Roach’s HomExpert report. Burlington County, N.J., experienced a hefty 7.3 percent gain, with the median price coming in at $220,000.

    Additional positive news is the number of days a house is lingering on the market and monthly inventory showed declines. For the metropolitan area, the average number of days a house sat on the market before selling declined by 3.9 percent to 98 days from 102. Monthly inventory fell by with 21.2 percent.

  2. grim says:

    From the Fed:

    Beige Book – Second District – New York

    Growth in the Second District’s economy has slowed since the last report, though labor market conditions have continued to improve. Price pressures have receded further in both manufacturing and other industry sectors, and retail prices have been stable. Non-manufacturing contacts generally report that conditions have held steady in recent weeks, while manufacturers report flat to weaker activity. Retailers generally report weaker results for May and June, but auto dealers indicate that sales activity was fairly robust; tourism activity has continued to be steady and strong. Home sales markets have shown signs of improvement, while rental markets have remained firm; however, commercial real estate markets have slowed modestly. Finally, bankers report a leveling off in loan demand, no change in credit standards, and further declines in delinquency rates on commercial loans and mortgages.

    Housing markets across much of the District have improved somewhat since the last report, while rental markets have continued to strengthen. Both the volume of Manhattan apartment sales and selling prices were steady in the second quarter; sales of smaller apartments have picked up and account for a growing share of the market. Foreign buyers continue to be a fairly big component of demand at the higher end of New York City’s market. Housing markets in Long Island and Westchester County are reported to have improved in the second quarter: sales activity has picked up, prices have stabilized, and the inventory of available homes, though high, has begun to decline. Existing home sales and prices in northern New Jersey have been flat, hampered by a glut of distressed properties on the market; but there has been a modest pickup in new home sales, as well as construction starts. Real estate contacts in Western New York continue to report robust sales activity and rising prices, despite “tough” mortgage conditions. New York City’s apartment rental market continued to strengthen in the second quarter, with inventories tight and rents increasing–most notably on smaller and lower priced apartments.

  3. grim says:

    From MarketWatch:

    U.S. job gains need to nudge housing

    Housing — long the intensive-care patient of the U.S. economic recovery — is finally showing life just as other sectors look winded. But the progress might be short-lived if the labor markets don’t pick up steam.

    Housing starts rose a better-than-expected 6.9% in June from the previous month to reach 760,000, the highest level since October 2008. Permits fell 3.7%, but that followed an 8.4% spike in May. The level of permits at 755,000 suggests builders have a good amount of demand in the pipeline

    That could be why builders feel better about their industry, according to a survey released Tuesday by the National Association of Home Builders. The NAHB’s housing market index jumped to 35 in July, its highest reading since March 2007. Measures of current sales conditions, expected sales and buyer traffic all increased this month.

    Even Federal Reserve Chairman Ben Bernanke acknowledged in this week’s congressional testimony, “We have seen modest signs of improvement in housing,” helped in part by cheap mortgage rates engineered by the Fed.

    But let’s be real: Housing is not about to soar. But even a bottoming out means the sector is no longer cutting into gross domestic product growth.

    Additionally, even in recovery, housing is a shadow of its former self. Starts remain about 60% below their boom levels of the mid-2000s and are only about half of their 1990s average of 1.37 million. Home building accounts for about 2% of nominal GDP, compared with 6.1% in 2005.

    Problems in the labor markets create questions about housing prospects.

    That’s because job woes are anathema to home sales. Potential buyers must feel secure with their job prospects before they commit to long-term mortgages. Higher loan standards mean banks want to see an applicant’s solid income history before lending.

    Better job growth is the wind under housing’s wings. Without it, housing in the second half will be hard-pressed to continue the progress made this spring.

  4. Confused in NJ says:

    The end is near.

  5. Essex says:

    The end of what?

  6. Essex says:

    TRENTON — New Jersey is a prime example of how states could be crushed by debt over the next few decades, according to a comprehensive report released by national economic experts Tuesday.

    The study by the State Budget Crisis Task Force concludes that Gov. Chris Christie, who overhauled the state pension and health benefit system last year, still has his work cut out if he wants to implement financial reforms that will stand the test of time.

    The report, which warns of a brewing storm headed for all the state capitals, uses New Jersey as one of six case studies of states where pension debts remain daunting, Medicaid costs are rising and yearly budgets are built with borrowed money and unsustainable sources of revenue.

  7. grim says:

    From Bloomberg:

    New Jersey Cities Abusing Pension Law May Waste Millions

    New Jersey local governments failed to remove hundreds of contractors such as lawyers and engineers from pension rolls, which may cost taxpayers millions of dollars a year in improper payouts, a state audit shows.

    Auditors identified 202 contractors who work for 134 communities and 25 school districts and participate in the Public Employees’ Retirement System even after a 2007 ban on their participation. Hundreds more probably are still enrolled by more than 1,100 other local government units, according to a report today from Comptroller Matthew Boxer.

    “These 202 enrollees have accrued pension credits that could result in the state paying them a total of approximately $1.9 million per year” in retirement, according to the report. “Removing these professionals as of the 2008 cut-off date would significantly reduce the future annual pension payouts.”

    Boxer said he referred the 202 enrollees to the state Division of Pensions and Benefits for removal of improper credits. His report didn’t identify the individuals.

  8. Mikeinwaiting says:

    “We’re past the bottom and slowly recovering,” said Mark Zandi, More bottoms around here than “High Heels” a local establishment of dubious entertainment value. Sh*t we even past one of these desirable but elusive bottoms. Ok Mark whatever, where is Jeff O he sees a lot of bottoms also maybe they hang out there together. ( not that there is anything wrong with that)
    “The end is near” again! When the hell is it going to get here already.

  9. Mikeinwaiting says:

    Essex 5 , the world , life without zombies, civilization you know you have been around a good while.

  10. Mikeinwaiting says:

    grim 7 I read a few pieces on that subject, it would seem that the lawyers that advise the towns on the who is on or off are part of the off crowd but never told them. This is “JERSEY” so it’s OK nothing will be done to them.

  11. grim says:

    Just wait, all those lawyers will sue, it’ll cost us millions.

  12. Brian says:

    7 –

    That kind of Sh1t probably happens so routinely here I bareley even took the time to read the article. It’s not really even news.

    They need to make an example out of some of those creeps and prosecute them for fraud.

  13. Shore Guy says:

    #7

    Grim,

    I have known many an attorney over the years who did work for school districts and municipalities so that they could get monthly pension credit. The number of days in which one had to work in order to get credit for an entire month was quite small, it may have even been a single day. So, these private attorneys would do this client work over 20-30 years, retire from their private practice, then go to work full time for a government agency and collect a public pension based on the last three years earnings. Those who were in for 30 years got lifetime medical. Some sweet deal.

  14. Shore Guy says:

    I bet that even the Titantic bounced when it hit bottom.

  15. Mikeinwaiting says:

    grim just keeps getting better, we are truly f**ken. By the way did not see it posted here a day or so ago CalPERS posted a 1% gain on investments for this year. Their model 7-8 % needed to keep afloat. Here is the rub cut benefits nooooooo, increase contribution nooooooo, go to broke state of Cal. and get more money ,Ding Ding Ding!

  16. Mikeinwaiting says:

    14 shore survival is illegal, to bad about pot plants this guy could have gotten off, stupid.

  17. Mikeinwaiting says:

    Brian,
    “That kind of Sh1t probably happens so routinely here I bareley even took the time to read the article. It’s not really even news.”
    And that my friend is the problem, like I said this is “Jersey “so its OK.

  18. Shore Guy says:

    Rut-ro, E-Street fans. The current European leg of the tour is ending soon and there are only 14 stadium dates after that. So far, no arena dates for the fall. Can Bruce really be doing a tour that lasts less than one year? BC Bob, where are you?

  19. Shore Guy says:

    Very clever:

    http://www.tobytoons.com/td/files/toons/2009/color_barackside.jpg

    Hydrogen Barackside
    For the general destruction of wealth. If you catch a nasty case of free-market capitalism, try Hydrogen Barackside….

    * Kills capitalism on contact
    * Kills Jobs on contact
    * Stimulates Marxist tendencies

  20. Essex says:

    BOSTON (AP) — Taking aim at what they call an abuse of the taxpayers’ money, a growing number of states are blocking welfare recipients from spending their benefits on booze, cigarettes, lottery tickets, casino gambling, tattoos and strippers.

    “If you’re not abusing the program, then you should really have no problem with these reforms,” said state Rep. Shaunna O’Connell, a Republican pushing for restrictions in Massachusetts.

    While the crackdown has strong populist appeal in Democratic and GOP states alike in this era of tight budgets and tea party demands for fiscal discipline, advocates for the poor argue that the restrictions are based on stereotypes about people on welfare, and they say the notion of any widespread abuse is a myth. Most people on public assistance, they contend, are single mothers struggling just to get by.

    The movement has been spurred in part by Congress. Under legislation signed by President Barack Obama in February to extend a payroll tax cut and unemployment benefits, welfare recipients are barred from using their cash assistance in strip clubs, casinos and liquor stores. States must change their own laws to conform by 2014.

    From Arizona to Maine, states have been going even further on their own, adopting or considering legislation to block the use of benefits for other items deemed frivolous.

  21. Mikeinwaiting says:

    Essex 22 and rightfully so. You are in need of food ,shelter etc then go to casino , my a**.

  22. Shore Guy says:

    “adopting or considering legislation to block the use of benefits for other items deemed frivolous”

    When one pays the piper, one gets to choose the tune.

  23. Essex says:

    I’m in the middle as these dudes may really need a stripper about now.. Also a cig?

  24. Shore Guy says:

    Clot,

    You are not antisocial; you are, it seems, the ideal neighbor:

    http://www.telegraph.co.uk/property/9379160/Why-the-best-neighbours-are-the-ones-that-keep-their-distance.html

    snip

    Researchers at insurance company More Than have released this week a blueprint for the perfect neighbour, whose criteria range from delivering a house-warming bottle of wine within three and half days of moving in to watching your children for you 10 times a year. But the survey also revealed that the relationships we form with our neighbours are often superficial, a mere exchange of occasional favours, and that lengthy contact or – God forbid – real friendships, are frequently kept at arm’s length. Small talk over the garden fence should be limited to four minutes, the surveyed home owners grumbled, and a longer encounter was deemed “irritating and too intrusive”.

    snip

  25. yo says:

    My Samsung Galaxy tab 2.0 7 android wants to do a software update.I dont know what it is updating but this is fairly large.It is 235mb so I stopped the download.
    Is it safe to continue download?

  26. raging bull jj says:

    That is the ice cream sandwich update?

    yo says:
    July 19, 2012 at 8:40 am

    My Samsung Galaxy tab 2.0 7 android wants to do a software update.I dont know what it is updating but this is fairly large.It is 235mb so I stopped the download.
    Is it safe to continue download?

  27. Shore Guy says:

    Every other Android update scr-ews up my device. The latest update causes the thing to shut down or freeze with great regularity. But, in exchange for its dreadful keyboard, it seems a fair exchange.

  28. Brian says:

    throw away the android and buy a blackberry.

  29. yo says:

    #22 I used to see welfare and food stamps checks being sold to Cash Checks businesses and neighbors and friends buying them for less than the amount of the value.This should be outlaw.Food stamps check should only be cash in retail stores and bill change in a debit card with ID checked at the counter.I see them driving brand new cars.So I assumed they bought the check for less

    But if they want the system to work,they would have done it already.

  30. yo says:

    I dont know.I cant find what it is.But I have the ice cream.It is quite large 230mb.I look at the apps largest is 10mb

    raging bull jj says:

    July 19, 2012 at 8:45 am

    That is the ice cream sandwich update?

  31. yo says:

    shore,
    I am fairly happy how it works now.I guess just keep saying cancel when it wants to continue downloading will be better than freezing

  32. yo says:

    Brooklyn Luxury-Home Prices Increase 5.4%

  33. chicagofinance says:

    Do you have any concept of how blindly ignorant and naive your opinion is? AND I am of the opinion that pharmaceutical companies are the devil incarnate……

    Yo’ how about we look at you….maybe you spent your lifetime being educated (meat would argue brainwashed) with a university degree. Maybe you have a good deal of professional experience and are able to hold a well paying job. However, we will just assume that you should immediately forfeit your salary and be paid minimum wage with no benefits, because it is the moral thing to do for society…..

    yo says:
    July 19, 2012 at 6:35 am
    Joyce,
    Provenge is brought to market and at a high price due to government granted patent monopolies.It takes 10 years before the patent expires before anyone can compete with the drug.No Generic choices.It has nothing to do with inflation.We grant companies trademarks and patents,the result is a monopoly of the market.

    Joyce says,
    Without the government giving money away, Provenge would not have been brought to market in its current form/price.

    yo says:
    July 19, 2012 at 6:42 am
    Medicare/medicaid has a set price that they pay with this drugs.I dont think the government is giving money away.If a consumer will have to pay for this drugs on their own,you are right prices will come down to the price what 3rd world countries pay.But we might as well buy the drug from the 3rd world right now,but that is against the law.Point is Patents gives no competition.Has nothing to do with what help the government gives to its citizen

  34. joyce says:

    35,

    Chifi,

    The stupid BURNS doesn’t it?

  35. yo says:

    Joyce,
    yesterday your stance is willing to take pay cuts

    yo says:

    July 18, 2012 at 3:31 pm

    Joyce,
    Will you not be freakin out if this was applied here?

    “Singapore
    Despite its relative economic success, Singapore does not have a minimum wage, believing that it would lower its competitiveness. It also has one of the highest income inequality levels among developed countries, coming in just behind Hong Kong and in front of the United States. The government has rejected the idea of a generous welfare system, stating that each generation must earn and save enough for its entire life cycle.”
    joyce says:

    July 18, 2012 at 4:30 pm

    154

    no

  36. yo says:

    Chi,
    so you are pro government granted patent monopolies not having a competition for 10 years.Knowing businesses wants maximum profit to what the market will buy the product for.And we complain we pay too much on this product because now your pocket will get hurt but let the consumer suffer.

  37. raging bull jj says:

    I hate REOs, so the bank has three offers on house, I have best offer in. The agents called bank last night to get status and said pending will get back. So this morning bank website flips house to in contract. So bank did not take the highest offer. Which was my offer and a cash offer. The bank also has a policy when it picks the offer with best terms it is to contact all other pending offers next day and give them 48 hours to beat offer. Ah Ha but there is a disclaimer that the bank does not have to follow its own rules, they can pick even the lowest worst offer if they feel like that.

  38. Comrade Nom Deplume says:

    [38] yo,

    10 years is nothing. It takes nearly that long to get approval. So the real lifespan of some drugs is really about 3-4 years before generics can copy it. That’s the period the innovator company has in which to recoup its investment.

    Now, we can strip patent protection for drugs, in which case, big pharma moves all of its development to countries that respect patents and have treaties with the US, so when the US wants the drug, they either pay for it or copy it in violation of international agreements, just like China does.

    Now there’s some irony.

    Now consider so-called designer drugs or gene therapies. I have long wondered what would happen if some researcher or an innovator company found a magic bullet for, say, breast cancer. The world quivers in anticipation. Then they said that they won’t disclose the research to regulators, and won’t produce or sell in the US unless it gets 20 year protection. Perhaps another country, like Canada or Japan, amends its law to attract them. Wonder what the upshot would be?

  39. NJGator says:

    Shore 13 – Don’t forget the Municipal Court Judges. They string together a few part time judgeships and still maintain private practices and then collect very nice pensions too.

    http://www.app.com/article/20100116/SPECIAL02/110110003/Lawyers-reap-big-bonus-from-municipal-judgeships-5-8-2005-

  40. cobbler says:

    Sunk R&D costs to develop Provenge were in excess of $1B, and it is custom-produced for each patient – so the margin is much worse than for the chemically-synthesized drugs, patent or no patent. There is no way to serve it cheaply. Despite its average life extension by 2 months, if anyone suggests Medicare shouldn’t pay 100K for it, you’ll be tarred, feathered and hanged with ACA nailed to your body.

  41. yo says:

    Why cant I just pay the same amount as Canada,Mexico or the rest of the world for a product that was developed and patented here?
    Because,they price it the maximum profit that we are willing to pay for with no competition.

  42. Confused in NJ says:

    5.Essex says:
    July 19, 2012 at 7:06 am
    The end of what?

    “ALL!”

  43. seif says:

    20% discount from the (ridiculous) original listing price in The Fly:

    Last LP: $949,900 ML#: 1205233

    Addr: 163 ELM ST RES/S
    Twn: TENAFLY Zip: 07670

    Orig LP: $1,100,000
    Sold: $870,000
    Taxes: $17,220
    SD: 7/17/2012 UCD: 6/15/2012 DOM: 126

  44. yo says:

    I dont even know the drug Provenge.But in general,What is the point of developing a product here,patent here and we pay more than other countries?After the development phase the product get manufactured outside the US.

  45. seif says:

    i mighta missed this one the other day…not sure. closed at list:

    Last LP: $815,000 ML#: 1207610
    Addr: 70 SURREY LN

    Twn: TENAFLY Zip: 07670

    Orig LP: $815,000
    Sold: $815,000
    SD: 7/13/2012 UCD: 3/16/2012 DOM: 16

  46. Anon E. Moose says:

    Yo [31];

    I used to see welfare and food stamps checks being sold to Cash Checks businesses and neighbors and friends buying them for less than the amount of the value.This should be outlaw.

    What makes you think it isn’t already illegal? (Psst… it is.) You can’t defeat capitalism or the free market by law. Soviets tried. China gave up.

  47. seif says:

    and another under contract in The Fly:
    Est Cls Dt: 8/31/2012 UCD: 7/18/2012 DOM: 27

    there are 5 listings that are past their scheduled closing dates by a week or two so we will see what happens.

  48. Comrade Nom Deplume says:

    [43] yo,

    that assumes that they pay for it. Is Provenge sold in Mexico?

    Also, governments negotiate prices and supplies. Canada did this and got cheap drugs but the supplies of which were limited. When internet pharmacies started selling the drug in the US, the Canadian gov went apeshit because that cut into the supply available to them.

    Also, how much drug in places like mexico is counterfeit? It’s a huge problem and people suffer as a result. Pharma doesn’t like it because (a) it hurts their profits and (b) they get sued for the bad counterfeits (really, they do).

  49. joyce says:

    http://market-ticker.org/akcs-www?post=202677

    Medicare, Medicaid and other government programs, along with EMTALA, simply force costs onto others. By forcing treatment of people who have no money they encourage people to come here and consume service without the ability to pay. They encourage all sorts of behaviors via an indirect path in that the “Nanny Government” will (at least attempt to) fix whatever breaks — and send someone the bill.

    In addition the laws against reimportation and similar mean that Americans pay for the development of every advanced technology. We pay $20 for a pill that’s $2 in Canada. The $2 covers reproduction cost, but the $20 covers development, clinical trials, testing and the risk of failure. We eat it all and the rest of the world gets full benefit of that development expense for free. This must stop. Dropping these special legal protections will instantly end this game. Yes, there will be some therapies that won’t be developed becasue other governments will refuse to bear their ratable share of the costs. That’s how the market works — if there’s no market for the drug, device or procedure in a nation at its “all-in” cost then it doesn’t happen, no matter how “wonderful” it might be.

  50. joyce says:

    The medical industry is “encouraged” to develop therapies for which there is no rational cost justification; as an example Dendreon’s Provenge provides an average 4.1 months of additional life to recipients yet it costs nearly $100,000. That is, for every additional statistical year of life the price is $250,000 — to someone. Were the “someone” each individual who received it there would likely be no market for this drug. Yet it was developed “on the come” with the premise that government would pay (a large percentage of prostate cancer patients are Medicare) — that is, government would force everyone to fork up that which the average senior citizen would refuse to pay for himself.

    http://market-ticker.org/akcs-www?post=207409

    (much more terrific information in that article)

    Yo,
    You wouldn’t know about Provenge, now would you? It is the poster child for what’s wrong with the perverse incentives with the government’s interventions in the medical industry… and since it doesn’t fit into your incorrect worldview and incorrect views on economics, you ignore it.

  51. yo says:

    I lived in the far east where they manufacture same drugs under the same company brand as they are here..We pay more than double of what they pay.Difference is, this are people that have no money to start with.If they price the product at the US cost,no one will be able to buy them.That is why I said;They maximize profit to what we are willing to pay.The Capitalist way.No morals.

  52. Painhrtz - Yossarian says:

    yo so a company that invests billions into the development of product should have no protections to not only recoup their investment, but make a profit? Oh boy that will drive innovation. You know what hapens in an environment like that you get the Trabant.

    I’m revising my assessment your not an idiot your a dangerous idiot. Scary part is so many in this country think just like you.

  53. yo says:

    It does not bother you that other countries pay less for the same products developed and patented here?This companies got all different tax breaks to keep the development here
    Painhrtz – Yossarian says:
    July 19, 2012 at 10:58 am
    yo so a company that invests billions into the development of product should have no protections to not only recoup their investment, but make a profit? Oh boy that will drive innovation. You know what hapens in an environment like that you get the Trabant.

    I’m revising my assessment your not an idiot your a dangerous idiot. Scary part is so many in this country think just like you.

  54. cobbler says:

    joyce [52]

    to fork up that which the average senior citizen would refuse to pay for himself.
    I think you underestimate the selfishness of an average American senior citizen. If he has money in his account, or can mortgage his house, or get the life insurance proceeds early, most likely he will pay. But he will certainly push for Medicare to pay for it, that’s where the whole death panel stuff is coming from.

  55. yo says:

    I am looking for competition.Giving them all this protection does not drive competition to drive prices down

  56. joyce says:

    Gator,

    I’ve met Judge Murray down the shore several times in and out of court. He literally thinks he is the King. The lawless conduct that he himself does in court is astonishing, not to mention what he allows the prosecutor(s) to get away with, and the lies that he lets the prosecutor/cop repeat.

    The way he justifies the excesses and abuses is pathetic. Just another, “I could make so much more in private practive (or in the private sector).” Well, I’d like to see him try. (I know a lot of lawyers earn more than what’s in the article, but also a lot do not) My point is that if he can.. let him. My bet is he cannot and he’s just on the govt teet. In 2008, “The top-earner was Damian Murray, a lawyer and former Ocean County freeholder who was paid $320,439 as a part-time judge in eight Ocean County towns.”

    http://www.nj.com/news/index.ssf/2009/05/number_of_nj_public_employees.html

    There’s an article somewhere that in addition to those 8 judge gigs he was also library administrator and like 4 other nonsense jobs.

    41.NJGator says:
    July 19, 2012 at 10:16 am
    Shore 13 – Don’t forget the Municipal Court Judges. They string together a few part time judgeships and still maintain private practices and then collect very nice pensions too.

    http://www.app.com/article/20100116/SPECIAL02/110110003/Lawyers-reap-big-bonus-from-municipal-judgeships-5-8-2005-

  57. I just got a big whiff of stupid.

  58. #59 not directed at joyce (my new intertubes crush).

  59. seif says:

    59 – smelled your finger?

  60. seif says:

    just kidding Mr Meat. I love you.

  61. joyce says:

    56
    cobbler,
    They will push for medicare to pay for it… and medicare will pay for it. The invidiual will pay their pittance of medicare premiums etc and that’s it.

  62. Fabius Maximus says:

    #54 Pain

    So those big German and British Pharma companies are suffering because they don’t enjoy the same protections availaible in the US.

    I had this whole pharma patent arguement with Jamil a few years back. Funny, that it was the only topic in which he had some depth to his arguements.

    The 10yr patent protection is garbage.
    http://www.egagenerics.com/gen-evergrn.htm

  63. Shore Guy says:

    Ocean County is as corrupt as the day is long. It makes Hudson county look like corruption kindergarten. For years, the place was so far off the map the Boss Hogs there could run amock with impunity.

  64. Shore Guy says:

    Speaking of alleged corruption, it looks like the Trenton Mayor hosted another day of tea anc crumpets for the FBI, this time in his office. It is nice to see budding friendships develop like this:

    http://www.nj.com/mercer/index.ssf/2012/07/trenton_city_hall_is_raided_by.html

  65. chicagofinance says:

    I love how foreign nationals (i.e. FabMax and his ilk on these threads) come to the United States and manage to somehow rationalize the inherent hypocrisy of compartmentalizing aspects of U.S. society…..profit is evil and capitalism is evil…. meanwhile they are here benefitting from a system that allows them to further themselves through effort……I guess they must feel tremendous guilt over it or something?

  66. cobbler says:

    chi [67]
    People immigrating here are as diverse as the rest of the public, some are like Raj Rajuratnam, some are like Fab, some like Sergei Brin, some like your office cleaner. I dare not to mention Ayn Rand…

  67. seif says:

    67 – more major projecting and sweeping generalizations. get a grip.

    “I love how foreign nationals (i.e. FabMax and his ilk on these threads) come to the United States and manage to somehow rationalize the inherent hypocrisy of compartmentalizing aspects of U.S. society…..profit is evil and capitalism is evil”

  68. raging bull jj says:

    chifi check out the BPOPP TrUP up 10% today.

  69. Mitt Romney says:

    Whoops! Someone let Ann out of the house again!

    WASHINGTON — Mitt Romney’s wife is reinforcing her husband’s refusal to make public several years of tax returns, saying “we’ve given all you people need to know” about the family’s finances.

    “You know, you should really look at where Mitt has led his life, and where he’s been financially,” she said. “He’s a very generous person. We give 10 percent of our income to our church every year. Do you think that is the kind of person who is trying to hide things, or do things? No. He is so good about it. Then, when he was governor of Massachusetts, didn’t take a salary for four years.”

  70. Brian says:

    Chifi for president

  71. Brian says:

    Joyce as VP

  72. seif says:

    72 – when a candidates wife speaks you get a bit of a look into their worldview but these things don’t decide elections.

  73. Fast Eddie says:

    Typing from my blackberry at lunch from my private sector job created through private investment granted by Oblama . I got here this morning by driving on roads created by Oblama with a car made by an industry saved by Oblama. Apparently, progress would be non-existent without Oblama. At least, that’s what those with tingles up their leg have stated. BTW, I don’t think there’s any liberals here, everyone is too busy working. Oh well, back to work… thank you, Oblama, for creating this company! :o

  74. Brian says:

    I wonder if the winning bidder will be buying using a mortgage with that bank.

    39.raging bull jj says:
    July 19, 2012 at 10:11 am
    I hate REOs, so the bank has three offers on house, I have best offer in. The agents called bank last night to get status and said pending will get back. So this morning bank website flips house to in contract. So bank did not take the highest offer. Which was my offer and a cash offer. The bank also has a policy when it picks the offer with best terms it is to contact all other pending offers next day and give them 48 hours to beat offer. Ah Ha but there is a disclaimer that the bank does not have to follow its own rules, they can pick even the lowest worst offer if they feel like that.

  75. Mikeinwaiting says:

    Brain I will second the motion, but with the caveat that the following cabinets post be included; Meat Secretary of defense- kill them all let god sort it doctrine.
    Shore -Sec of State (our most capable statesmen) and so meat doesn’t kill off half the world.
    JJ- Treasury who else!
    DOJ – A man of great integrity (wow wouldn’t that be different) NOM
    Get ride of the Bernake & put Chi-fi at the fed, Grim as chief of staff (he is used to herding cats around here)
    Since there will be no more dep. of energy or education no need to worry there.

  76. Painhrtz - Yossarian says:

    As a matter of fact no, because those countries may restrict access to treatments because there may be a drug on their compendial list that is approved for a particular treatment though it may not be as effective as the newer drug. Yo and for the record this is what I do for a living both domestically and internationally. when you have been in hospitals in China, India, multiple countries in South America, Europe both eastern and western plus the ministries of health in those countries then maybe you can talk to me with a more informed opinion about the cost of drugs and their use internationally.

    Do I like that companies get tax breaks to incentivize activities. no. but when you have one of the most retardly progressive anti business tax codes in the Western world how else will you get them to invest capitol here. Begging?

    Last time I checked we are supposed to be a free society where an individual whether they by a single person or corporation have the capabilitty to enjoy the fruits of their labor and investment throught the rule of law. Patents help to ensure that is the case.

    Based on your skewed views it is immoral for a company to make money on treating peoples diseases. If you take out the profitability who is going to invest in methods of healthcare, the government? This is a group of morons who can’t deliver the mail. You want them to develop treatments for disease. If anything they are an impediment. If the government was responsible for developing new drugs we would all be dead from infectiosn because they would not even be able to create penicilin.

  77. Brian says:

    No, it encourages innovation through the protection of intellectual property. If you aren’t going to make any money on your invention or the discovery of a new drug, where’s your motivation to invent/discover it?

    57.yo says:
    July 19, 2012 at 11:05 am
    I am looking for competition.Giving them all this protection does not drive competition to drive prices down

  78. chicagofinance says:

    I am going to use the bs defense that was foist on these threads yestersday…..to be clearer, the gist wasn’t to generalize across all, but rather to focus on those with the observed behavior. As a result, the post could have been written the following way…

    chicagofinance says:
    July 19, 2012 at 11:39 am
    I love [those] foreign nationals (i.e. FabMax and his ilk on these threads) [who] come to the United States and manage to somehow rationalize the inherent hypocrisy of compartmentalizing aspects of U.S. society…..

    cobbler says:
    July 19, 2012 at 11:48 am
    chi [67]
    People immigrating here are as diverse as the rest of the public, some are like Raj Rajuratnam, some are like Fab, some like Sergei Brin, some like your office cleaner. I dare not to mention Ayn Rand…

  79. Shore Guy says:

    They should check Wyoming. That’s where Cheney spent most of his “undisclosed-secure-location” time while Bush was president.

    http://www.cnn.com/2012/07/19/world/meast/syria-unrest/index.html

    (CNN) — Syrian TV showed video of President Bashar al-Assad on Thursday, the first images broadcast of him since a deadly attack on top officials a day earlier.

    The video, of al-Assad with newly named Defense Minister Gen. Fahd Jassem al-Freij, came amid growing speculation about al-Assad’s whereabouts. Some reports suggested he might have left the capital.
    snip

  80. seif says:

    81 – noted

  81. chicagofinance says:

    BTW – I hope the main thrust of all this discussion is not lost. There is no reason to defend the U.S. capitalist system or the Republicans. At this juncture, O stands accused of being a hack that should be throw out on his a%%. Everything else is irrelevant. The fact that so much noise can be inserted into various diatribes reflects the wholesale effectiveness of Axelrod & Co….. (thanks Shore)

  82. Anon E. Moose says:

    How “You didn’t build that” became “He didn’t say that”

    The rear guard on display here has gone viral.

  83. seif says:

    85 – i see you are still clinging to that. hugging that. petting that. enjoy.

  84. Mikeinwaiting says:

    I guess they didn’t.
    June Existing Home Sales: -5.4% to 4.37M vs. 4.65M expected, 4.55M prior (revised).

  85. Anon E. Moose says:

    seif [86];

    Bring it on. I love it when leftists just act like themselves. Then everyone gets to learn things about you that some of us already already know.

  86. Brian says:

    84 –
    Yup. He may be a nice guy and all, just sucks as a leader and totally ineffective.

  87. seif says:

    88 – bring it on???? why i oughta…don’t you know i’m loco?? i am one step away from challenging you to a walk off! you should listen to your friend billy zane. he’s a cool dude.

    http://www.youtube.com/watch?v=KeX9BXnD6D4

    p.s. – what do non-leftists act like if not themselves?

  88. NJ Toast says:

    Nom, wondering if you can answer a basic legal type question –

    if someone is using “esquire” after their name and they have a law degree but have not passed the bar, is that a problem? Also, if they passed the bar in one state, let the license expire and now live in another state where they have not even taken the bar and are putting “esquire” after their name is that misrepresenting themselves?

    Thanks,

  89. Shore Guy says:

    “He may be a nice guy and all, just sucks as a leader and totally ineffective”

    Jimmy Carter 2.0.

  90. joyce says:

    I see you’re still clinging to the idea Obama is helping, that Obama is not a puppet of the banksters, that Obama has not done the same everything that Bush did only worse.

    keep hugging it, petting that, enjoy… and vote for him again

    .seif says:
    July 19, 2012 at 12:58 pm
    85 – i see you are still clinging to that. hugging that. petting that. enjoy.

  91. Shore Guy says:

    If any of you are looking for roommates, here you go. Warning, empty your mouth of all liquids before reading:

    http://www.happyplace.com/9962/the-most-insane-roommate-ads-ever-posted-on-craigslist/page/1

  92. seif says:

    93 – you are assuming. can’t I know that he and all pols are puppets of money and still vote for them?

    all your brilliant ideas for how to fix what ails this country are wasted on this posting board, where you now have cult status. there are people on here who agree with you and stroke you for it and others who aren’t gonna change their minds. back away from the keyboard…your spitting into the wind. save it for the town hall meetings. run for office…and maybe i will vote for you…i will also hug you and cling to you, if i should be so lucky.

  93. Shore Guy says:

    http://www.thedailybeast.com/newsweek/2012/07/15/are-millennials-the-screwed-generation.html

    Today’s youth, both here and abroad, have been screwed by their parents’ fiscal profligacy and economic mismanagement. Neil Howe, a leading generational theorist, cites the “greed, shortsightedness, and blind partisanship” of the boomers, of whom he is one, for having “brought the global economy to its knees.”

    snip

    One key reason: their indebted parents are not leaving their jobs, forcing younger people to put careers on hold. Since 2008 the percentage of the workforce under 25 has dropped 13.2 percent, according to the Bureau of Labor Statistics, while that of people over 55 has risen by 7.6 percent.

    “Employers are often replacing entry-level positions meant for graduates with people who have more experience because the pool of applicants is so much larger. Basically when unemployment goes up, it disenfranchises the younger generation because they are the least qualified,” observes Kyle Storms, a recent graduate from Chapman University in California

    snip

    The screwed generation also enters adulthood loaded down by a mountain of boomer- and senior-incurred debt—debt that spirals ever more out of control. The public debt constitutes a toxic legacy handed over to offspring who will have to pay it off in at least three ways: through higher taxes, less infrastructure and social spending, and, fatefully, the prospect of painfully slow growth for the foreseeable future.

    In the United States, the boomers’ bill has risen to about $50,000 a person. In Japan, the red ink for the next generation comes in at more than $95,000 a person. One nasty solution to pay for this growing debt is to tax workers and consumers. Both Germany and Japan, which appears about to double its VAT rate, have been exploring new taxes to pay for the pensions of the boomers.

    The huge public-employee pensions now driving many states and cities—most recently Stockton, Calif.—toward the netherworld of bankruptcy represent an extreme case of intergenerational transfer from young to old. It’s a thoroughly rigged boomer game, providing guaranteed generous benefits to older public workers while handing the financial upper echelon a “Wall Street boondoggle” (to quote analyst Walter Russell Mead).

    Then there is the debt that the millennials have incurred themselves. The average student, according to Forbes, already carries $12,700 in credit-card and other kinds of debt. Student loans have grown consistently over the last few decades to an average of $27,000 each. Nationwide in the U.S., tuition debt is close to $1 trillion.

    This debt often results from the advice of teachers, largely boomers, that only more education—for which costs have risen at twice the rate of inflation since 2000—could solve the long-term issues of the young.

    snip

    More maddening still, the payback for this expensive education appears to be a chimera. Over 43 percent of recent graduates now working, according to a recent report by the Heldrich Center for Workforce Development, are at jobs that don’t require a college education. Some 16 percent of bartenders and almost the same percentage of parking attendants, notes Ohio State economics professor Richard Vedder, earned a bachelor’s degree or higher

    snip

    Particularly hard hit are those from less prestigious schools or with majors in the humanities, notes a recent Pew study. Among 2011 law-school graduates, half could not find a job in the legal field nine months after finishing school. But it’s not just the lawyers and artists who are suffering. Overall the incomes earned by graduates have dropped over the last decade by 11 percent for men and 7.6 percent for women. No big surprise, then, that last year’s class suffered the highest level of stress on record, according to an annual survey of college freshmen taken over the past quarter century.

    The proliferation of graduate degrees also impacts those many Americans who don’t go (or haven’t yet gone) to college. High-school graduates now find themselves competing with college graduates for basic jobs in service businesses. Unemployment among 16- to 19-year-olds this summer is nearly 25 percent, while for high-school graduates between 2009 and 2011, only 16 percent have found full-time work, and 22 percent work part time.

    snip

    Inevitably, young people are delaying their leap into adulthood. Nearly a third of people between 18 and 34 have put off marriage or having a baby due to the recession, and a quarter have moved back to their parents’ homes, according to a Pew study. These decisions have helped cut the birthrate by 11 percent by 2011, while the marriage rate slumped 6.8 percent. The baby-boom echo generation could propel historically fecund America toward the kind of demographic disaster already evident in parts of Europe and Japan.

    The worst effects of the “new normal” can be seen among noncollege graduates. Conservative analysts such as Charles Murray point out the deterioration of family life—as measured by illegitimacy and low marriage rates—among working-class whites; among white American women with only a high-school education, 44 percent of births are out of wedlock, up from 6 percent in 1970. With incomes dropping and higher unemployment, Murray predicts the emergence of a growing “white underclass” in the coming decade.

    snip

  94. raging bull jj says:

    Re 96 isn’t the mountain of debt irrelevant. Parents A owe 100K on mortgage, 40K on car loan, 20K on students loans,.

    Parent B owns Parents A MBS, Parent C owns ABS for the car loan and Parent C owns SLM pool that owns his student loan.

    Debt = Assets – Trouble is one mans debt is another mans assets.

  95. Mikeinwaiting says:

    Any comment on 87, you know real-estate.

  96. seif says:

    98 – we hit bottom. haven’t you heard? all the experts are saying so.

  97. Mwaaa Haaa Haaa says:

    FOLKS,

    Let’s apply some critical reasoning.

    Bloomberg excerpt: Purchases climbed 1.5 percent last month to a 4.62 million annual rate, matching April as the fastest since January, according to the median forecast of 76 economists surveyed by Bloomberg News.

    So let’s get this straight.
    76 economists selected by Bloomberg provided Bloomberg with forecasts for purchases of previously owned homes. At no time does Bloomberg disclose the complete results of their survey. Instead, Bloomberg cherry-picks a statistical element – the MEDIAN data element in the June 2012 survey results from those 76 economic forecasts for the percentage increase of the number previously owned homes.
    If you didn’t know, this MEDIAN would be determined by first putting those forecasts in order of increase (or decrease, if you prefer) and eliminating the largest increase with the smallest increase, the 2nd largest increase with the 2nd smallest increase, etc. Although, the 38th and 39th largest increases are averaged so as to determine the MEDIAN. This doesn’t tell you if the majority of the forecasts were to the left or right of the MEDIAN. It also doesn’t give the average of the forecasts, nor an analysis of variance in each or between those forecasts (ANOVA, auto-correlation, cross-correlation).

    The article continues with such malformed reasoning – perhaps the writer was a stock brokers/car salesmen/Enron traders (etc)!

    In other words, this whole article was yet another example of PUFFERY, SPIN, etc.

    Still not paying for their thievery and the stupidity of others!

    Mwaaa Haaa Haaa!

  98. joyce says:

    (95)
    seif

    “you are assuming. can’t I know that he and all pols are puppets of money and still vote for them?”

    Yes I am assuming that, because if you do know and still vote for them (expecting things to get better) you are insane like the famous phrase. [And if you’re not expecting things to get better than what are you doing?] I can also confidently assume that no you do not know or won’t accept they are all bought and paid for; it is evident from your disdain for one side of the two-headed monster known as the Reps/Dems.

    “all your brilliant ideas for how to fix what ails this country are wasted on this posting board,”

    Then why do several other peeople post their ideas for reforming taxes, education, et al? Topics range on here regularly well beyond real estate and Tenafly.

    “where you now have cult status.”

    I didn’t realize you speak for everyone.

    “run for office…and maybe i will vote for you…i will also hug you and cling to you, if i should be so lucky.”

    If I had your support, that means I morphed into a statist advocating totalitarian ideas. No thanks.

  99. seif says:

    joyce says:
    July 19, 2012 at 2:23 pm

    “all your brilliant ideas for how to fix what ails this country are wasted on this posting board,”

    Then why do several other peeople post their ideas for reforming taxes, education, et al? Topics range on here regularly well beyond real estate and Tenafly.

    My point is that battling with Yo and whoever else on this board isn’t constructively changing the system that you abhor so much. You have your fans and those who disagree…it is just a sounding/venting board. Some times it is fun (and frustrating) to argue our sides of the debate but that’s about it.

    You are obviously (to me) very knowledgeable and passionate about the way you see things and the policy fixes that you think are needed for the U.S. and you may be able to initiate change…but it ain’t gonna happen here on this board. Shake some hands, kiss some babies and hug some “totalitarian statists” out in the real world and put into motion the change you want to see.

    P.S. – I will pretend that I never heard your blasphemous statement about Tenafly.

  100. seif says:

    “where you now have cult status.”

    I didn’t realize you speak for everyone.

    You have had marriage proposals and people nominating you for president all within the last week. You are an NJRR cult hero, willingly or not.

  101. Brian says:

    Seif,

    Newsflash: We are all puppets of money.

  102. seif says:

    104 – that is not a newsflash. old news. it is our religion over here.

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

  103. Brian says:

    My nominations were obviously tongue and cheek…….

  104. Fabius Maximus says:

    #67 Chi,
    I don’t have a problem with profit or capitalism. I do have a problem with concepts like “corporate personhood that exists only in the US. I also a have a problem with the abuse of genuine financial instruments, such as deferred income, retained earnings , carried interest and commodity hedging .
    Government should be like the tide and lift all boats equally.
    http://www.captainpete48.com/images/P3024916.JPG

  105. Brian says:

    Seif for mayor of Tenafly!

  106. njescapee says:

    96, boo-hoo, what a bunch of whiners. This “generational theorist” is as bad as race baiter al sharpton. So Gen Xers in their 40s should take no responsibility. hmm run that by me again… and here I thought Gen Xers in their 40s are today’s hiring managers. You can’t have it both ways!! right Moose?

    “Today’s youth, both here and abroad, have been screwed by their parents’ fiscal profligacy and economic mismanagement. Neil Howe, a leading generational theorist, cites the “greed, shortsightedness, and blind partisanship” of the boomers, of whom he is one, for having “brought the global economy to its knees.”

  107. seif says:

    108 – i will buy your vote with a six pack of Dogfish Head 90 Minute IPA

    (don’t forget, i tried to get you a collection for some quality beer here a few weeks ago and none of these penny-pinchers came through)

  108. Juice Box says:

    seif – Does this rail map make you nervous about living in the fly?

    http://northernbranchcorridor.com/img/content/alignment-small.jpg

  109. Richard says:

    Makes me think about living there which, maybe will bring down the area. :)

  110. Juice Box says:

    Richard would it not make it more exclusive and more valuable? You can get to the city from Montclair or Millburn on the train relatively quickly, those two towns are arguably more expensive to live in than Tenafly. Why would it not work for Tenafly?

  111. Brian says:

    110-

    Hey I like a good beer as much as the next guy but it’s not like its the only sh1t thats drinkable…

    I splurge once in a while.

  112. Richard says:

    If it wasn’t clear I am looking for a train commutable town. I was worried I might be the one lowering the tone. :)

  113. raging bull jj says:

    Try the Bronx, excelent train lines and you avoid the GWB and tolls.

    Funny stuff the Bronx has more top 100 High Schools than all of North Bergan County, that is still a mystery to me.

    Richard says:
    July 19, 2012 at 3:09 pm
    If it wasn’t clear I am looking for a train commutable town. I was worried I might be the one lowering the tone. :)

  114. Richard says:

    Yeah but most of the people who go to the top schools in the Bronx live in Queens.

  115. Brian says:

    How are statistics collected? Are the administrators of those schools responsible for collecting and submitting the data to the state?

    raging bull jj says:
    July 19, 2012 at 3:15 pm
    Try the Bronx, excelent train lines and you avoid the GWB and tolls.

    Funny stuff the Bronx has more top 100 High Schools than all of North Bergan County, that is still a mystery to me.

  116. Fabius Maximus says:

    #84 Chi
    And you can’t seem to accept the point that the GOP is the true problem here. Until they come back to being a credible opposition party with credible candidates they will not displace him. What O does good or bad is irrelevant if there no opposition for him to have to go against. If the GOP put up a moderate like even Dick Lugar, O would have a fight that he could realistically lose and his record comes into play. O vs. the wingnuts is no fight.

    On a side note, I’m still waiting for a response on this
    “…..he is sending the next wave of leading technology companies out of the country…”
    Substantiate the claim or walk it back.

  117. seif says:

    111 – it doesn’t make me nervous yet. a town meeting got pretty heated a few months back. there is a conspiracy theory that the mayor is against it n a major way because he owns a gas station in town. many are trying to get it to stop in englewood.

    i think it would only bring down value for homes close to the tracks. as you say, having easy city access would likely enhance the values to a degree.

    my biggest question is what happens to cafe angelique? it is housed in the old trains station…a beautiful building and a hotspot on tenafly. do they get booted? eminent domain?

    pic:
    http://3.bp.blogspot.com/_C2MEDThWF_E/SdksmrFxY-I/AAAAAAAAAhg/Q5hBUenrPGc/s320/Angelique+012.JPG

  118. Fabius Maximus says:

    I found a top rate BBQ place 10 minutes from me that has Dogfish head 90 min IPA on draft.
    Dangerous combo.

  119. seif says:

    It it ain’t good beer (by my own standards) then it isn’t drinkable for me. I have been known to “pass” on an open bar and buy my own when the beer is shite.

    Brian says:
    July 19, 2012 at 3:07 pm
    110-

    Hey I like a good beer as much as the next guy but it’s not like its the only sh1t thats drinkable…

  120. seif says:

    122 – name?

  121. seif says:

    grazie!

  122. Brian says:

    I would drink good beer everyday if I could but, after all, I’m just a puppet of money.

  123. Juice Box says:

    Seif – seems to me the Starbucks liberals don’t want the light rail. The cafe owners will survive it is a small chain, they would most likely demolish what is there for the newer design of the light rail stations, and the town could actually see more downtown shoppers.

    The light rail is much quieter than NJ Transit trains, other than blowing the horn the properties next to it won’t be too adversely affected. Aren’t most of the properties along Dean and Piermont commercial anyway?

  124. seif says:

    127 – i think you mean a muppet for money. that is why i wanted to raise $30-$40 for you so you could drink at least one good beer 24 days in a row.

  125. seif says:

    128 – most is commercial but for a stretch closer to englewood. i wouldn’t mind it. i pay for tolls, gas and parking as it is. would love to use that money to buy brian good beer every month instead.

  126. Juice Box says:

    seif – Hillbillys don’t drink good beer. There isn’t a liquor store for miles around where he lives that serves any kind if Belgian brew.

  127. Brian says:

    Yup.

    We are all just muppets of money.

    Gotta go. Gonna stop and get a six pack of High Life tall boys.

  128. A.West says:

    Can anyone recommend a chimney repair company serving Somerset county?

  129. Brian says:

    Yee haaaaa

  130. Statler Waldorf says:

    “Government should be like the tide and lift all boats equally.”

    Equality for all, bring on the flat tax!

  131. Fabius Maximus says:

    #132 Brian

    My goto day to day beer is Dab. $6 for six 16oz cans. Imported from Germany.

    http://beeradvocate.com/beer/profile/726/2831/

  132. Juice Box says:

    JJ – Here is a real Playa, guys first name is Philander and boy can he fire and forget.

    “Dennis Rodman, who has been in the news lately for his alleged alcoholism and back child support, finally was reunited with his father after an exhibition game in the Philippines, according to the AP. The two haven’t seen each other in 42 years.

    Rodman’s father, Philander Rodman Jr., has 29 children with 16 different women. Philander was surprised his son agreed to meet him after the game because he tried to meet him once before in 2006 and the basketball player refused.

    Philander moved to the Philippines almost 50 years ago where he runs a restaurant.

    The two only had time for a handshake and a few words.”

    http://www.businessinsider.com/dennis-rodmans-father-had-29-kids-with-16-different-women-2012-7#ixzz216KjgATA

  133. grim says:

    NJ unemployment UGLY, jumps from 9.2 to 9.6 in June.

  134. chicagofinance says:

    Uttered here, but the transcripts are not yet publicly available. I saw a hard copy of it, but the only thing available online is a reporter’s summary that leaves out this detail….

    Fabius Maximus says:
    July 19, 2012 at 3:20 pm
    On a side note, I’m still waiting for a response on this
    “…..he is sending the next wave of leading technology companies out of the country…”
    Substantiate the claim or walk it back.

    http://www.chicagobooth.edu/mc/2012/news/Tax-Code-Requires-a-Revamp.aspx?id=mg

  135. Essex says:

    137. It’s Obama’s fault.

  136. Essex says:

    Christie might have wanted to do that tunnel project right about now.

  137. Shore Guy says:

    “And you can’t seem to accept the point that the GOP is the true problem here. Until they come back to being a credible opposition party with credible candidates they will not displace him. ”

    Yup.

  138. Fabius Maximus says:

    #138 Chi

    nice to see they spent a lot of time discussing the repatriation issue. I am very interested in their conclusions so please let me knwo when the transcripts are released.

    Here is a nice doc analying the 2004 tax amnesty. It shows that 15 firms accounted for half of the cash repatriated. Most of the cash went to dividends or stock buybacks and a lot of the companies actually laid off people.
    http://www.ctj.org/pdf/crs_repatriationholiday.pdf

  139. grim says:

    The 9,900 jobs added was a big positive, no doubt.

    But, I’ll blame the 51,000 that came back into the labor force in the last year for pushing the UE rate up.

  140. Fabius Maximus says:

    #142
    correction

    Most of the cash went to dividends in lieu of stock buybacks

  141. Fabius Maximus says:

    Nice to see some companies slashing prices to clear inventory and get themselves out of the market.
    http://www.fathead.com/nba/new-york-knicks/jeremy-lin-wall-graphic

  142. Comrade Nom Deplume says:

    [91] toast

    It is a meaningless suffix. I don’t even know how it came to be associated with lawyers. Merely using it when you aren’t a lawyer makes you a tool but, without more, it is not actionable.

  143. Mikeinwaiting says:

    grim 137,143 you have a link like to look over.

  144. Fabius Maximus says:

    What Canadian Housing bubble?
    http://www.theglobeandmail.com/commentary/good-for-homeowners-and-the-economy/article4415948/
    Could Canada could slip into the same traps that hurt the U.S. economy in 2008-09? Some are sounding the alarm bells – at least on the housing front.

    Clearly, Ottawa is worried about the debt levels being carried by the average household. Witness Finance Minister Jim Flaherty’s recent announcement that he was changing the maximum amortization on a government-backed mortgage to 25 years from 30 years.

  145. Mikeinwaiting says:

    Essex 139 Correct.

  146. Mikeinwaiting says:

    seif the beer snob!

  147. Mikeinwaiting says:

    seif have some Miller lite in the frig come on over, of course I will be drinking Scotch. Beer is for mowing the lawn & BBQs.

  148. Mikeinwaiting says:

    Wait correction on my 149 somehow it must be Bush’s fault, isn’t everything.

  149. Scaldis Peche Mel. 9% ABV, so you get both great peach flavor and a world class buzz.

  150. Mikeinwaiting says:

    Here are the numbers & graphs for NJ unemployment;
    http://data.bls.gov/timeseries/LASST34000003
    Just in case someone is interested.

  151. freedy says:

    http://dailycaller.com/2012/07/19/usda-partnering-with-mexico-to-boost-food-stamp-participation/

    Next time you wonder why you see all the Mexicans on the streets of NJ .

  152. Essex says:

    Nom: According to a survey by the NALP, the median salary for 2011 law school graduates has dropped 5% from 2010 and 17% from 2009, and starting private practice salaries have fallen 35% in three years. The study, which is rapidly being citied by 22-year-olds as the reason why they haven’t opened that LSAT prep book that has been sitting on the kitchen counter of their parents’ house for six weeks, notes that the median salary for 2011 law grads was $60,000, well below the amount that scientists believe is necessary to cope with the mental anguish of having attended law school.

    “Obviously these statistics paint a pretty dismal picture,” NALP executive director James Leipold said, presumably as he propped his heels upon the desk that he works at in his office inside the building where he’s gainfully employed. “Nearly all of the drop can be attributed to the continued erosion of private practice opportunities at the largest law firms.” Last month an ABA survey showed that only 55% of the 2011 graduates got full-time, long-term jobs using their legal degree.

    There is hope: median government salaries remained unchanged from 2009 at $52,000, although gym memberships and cucumber mojitos can’t be purchased with “efficacy” or “satisfaction.” And 24.6% of 2011 grads were looking for jobs out of the legal field altogether, presumably as high school counselors that advise students to study dead languages or the Transformers series as it applies to heteronomative trends at the turn of the century, or anything more useful than a law degree.

    “In many ways, the class of 2011 bore the worst brunt of the impact of the recession on the entry-level legal job market, particularly in the large firm market,” Leipold adds. However, most law school libraries remain air conditioned, and we’re pretty sure you can sleep in the products liability section if you arrive after 9 p.m.

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