From CNBC:
Housing Prices Climb; Market ‘Clearly Recovering’
U.S. single-family home prices rose in November, building on a string of gains that points to a housing market that is on the mend, data from a closely watched survey showed on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.6 percent in November on a seasonally adjusted basis, in line with economists’ forecasts.
Prices on a non-adjusted basis slipped 0.1 percent. The non-adjusted numbers showed prices fell in about half of the cities covered by the survey, with the winter months typically a weak period for housing, the survey said.
“Housing is clearly recovering”, David Blitzer, chairman of the index committee at S&P Dow Jones Indexes, said in a statement.
Prices in the 20 cities rose 5.5 percent year over year.
It was the 10th month in a row that prices have increased, the longest string of gains since before the market started to turn down in 2006.
From Bloomberg:
Home Prices Climb by Most in Six Years as U.S. Market Firms
Home prices in 20 U.S. cities rose in November from a year earlier by the most in more than six years, indicating the U.S. housing rebound is gaining ground.
The S&P/Case-Shiller index of property values increased 5.5 percent from November 2011, the biggest year-over-year gain since August 2006, a report showed today in New York. The median projection of 30 economists surveyed by Bloomberg called for a 5.6 percent advance.
Mortgage rates near a record low are propelling demand for real estate that’s outpacing the available supply, a sign prices will keep strengthening. Home-equity gains and an improving job market may help to put a floor under Americans’ confidence and spending, the biggest part of the economy, cushioning the hit from a higher payroll tax that began in January.
“The rise in home prices is a demand-supply story that should continue this year,” Jennifer Lee, a senior economist at BMO Capital Markets in Toronto, said before the report. “Inventories are low, so that’s good news for home prices. Higher prices will also boost confidence and spending overall.”
If anyone is looking for the Freddie Deed in Lieu eligibility requirements:
http://www.freddiemac.com/sell/guide/bulletins/pdf/bll1227.pdf
Good Morning New Jersey
What will happen when Freddie (we couldn’t see that coming!) goes bust? I guess they jam us with all their bad paper, and in turn, we shitcan an entire generation of wealth creation by bailing them out.
BB10 Launch event in Manhattan today Grim. You goin’ buddy?
http://www.digitaltrends.com/mobile/bb10-to-launch-wednesday-super-bowl-ad-to-follow/
Blackberry is dead man walking.
My company gave me a BB. That’s how I know they’re worthless.
Layoff warn notices for the first month of 2013 http://lwd.state.nj.us/WorkForceDirectory/warn.jsp?printacrossID=1&StartDate=01/01/2013&EndDate=01/31/2013&DisplayDate=January%202013
Does not include the 170 jobs that will be lost when Hess shuts down it’s Port Reading Refinery http://www.nj.com/business/index.ssf/2013/01/closure_of_hess_port_reading_r.html
I still use a Blackberry. I have the Style, their flip phone model. It’s much smaller than most smart phones and fits very nicely in small purses. I get ridiculed endlessly. Others feel embarrassed for me. But I only use my phone for calls, texts, checking emails, and looking up a very occasional phone number on the browser (like when I helped the lost tourists with the address for the American Girl Store last year).
I just don’t want to move to a full blown smart phone with a money-sucking data plan. I also am trying to save my thumbs from wearing out too early.
7 – http://www.nj.com/news/index.ssf/2013/01/layoff_notices_filed_by_atlant.html
10 Yup just a formality
Looks like the inflation wildfire is spreading. Will it extend to the populace or remain within the minority who own most of the stocks/bonds?
Yesterday were the $4-5 million classic cars sold at aution. Art auctions have consistently been setting new highs. Today there are rare coin auctions setting records. http://www.nj.com/business/index.ssf/2013/01/rare_silver_dollar_sold_for_10.html#incart_river_default
http://abcnews.go.com/US/wireStory/humble-nickel-1913-fetch-millions-18341470
Weren’t we just talking about the leftist fantasy that the GOP has magically been annexed by reactionaries? This explains the phenomenon:
http://www.powerlineblog.com/admin/ed-assets/2013/01/0129toonfnl.jpg.cms_.jpeg
Con’t [13];
http://www.powerlineblog.com/archives/2013/01/obama-out-of-the-closet.php
8 –
Hess stations were the only ones near me that remained open after Hurricane Sandy. They had generators.
I grew up blocks from that refinery. Wishes do come true, albeit too late sometimes.
I can’t believe His O-ness is not laughing behind closed doors at everyone. He’s like a kid taking bigger risks (telling bigger lies) just to see what he can get away with.
The latest whopper sounds like ‘Some of my best friends shoot guns.”
http://politicalticker.blogs.cnn.com/2013/01/28/dubious-congresswoman-challenges-obama-to-skeet-shooting-match/
Forget Japan… Why Can’t the U.S. Be Like Sweden? (your daily dose of Krugman)
http://www.bloomberg.com/video/forget-japan-why-can-t-the-u-s-be-like-sweden-5FG7rQHFQrWQvx_67FEtJQ.html
WASHINGTON (MarketWatch) — U.S. home prices declined in November on seasonal weakness, with 10 of 20 cities seeing lower prices in the month, according to the S&P/Case-Shiller home-price index released Tuesday. The S&P/Case-Shiller 20-city composite posted a non-seasonally adjusted 0.1% decrease in November following a 0.2% decline in October. “Winter is usually a weak period for housing which explains why we now see about half the cities with falling month-to-month prices compared to 20 out of 20 seeing rising prices last summer,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. Despite the recent decline, prices were 5.5% higher than during the same period in the prior year, for the strongest year-over-year growth since August 2006, with increases in 19 of 20 cities. New York was the only city with a lower year-over-year result. “Housing is clearly recovering,” Blitzer said, noting positive trends for new- and existing-home sales. However, prices remain 30% below a bubble peak in 2006, according to Case-Shiller data. After seasonal adjustments, the 20-city home-price index rose 0.6% in November.
Interesting home value is really not a big source of wealth to most people as your 401K savings is way way more a source of wealth through your life.
This chart is for someone with above a normal IQ with a college degree, which is everyone on this site.
THE AVERAGE NET WORTH OF THE ABOVE AVERAGE PERSON
Age Yrs Worked Avg Pre-Tax Savings Avg Post-Tax Savings Avg Property Equity Avg Total Net Worth
22 0 $ – $ – $ – $ –
23 1 $ 12,500 $ 7,500 $ – $ 20,000
24 2 $ 30,000 $ 15,000 $ – $ 45,000
25 3 $ 45,000 $ 25,000 $ – $ 70,000
30 8 $ 154,500 $ 67,500 $ 17,500 $ 239,500
35 13 $ 273,000 $ 115,000 $ 30,000 $ 418,000
40 18 $ 410,500 $ 162,500 $ 70,000 $ 643,000
45 23 $ 573,500 $ 200,000 $ 117,500 $ 891,000
50 28 $ 771,500 $ 237,500 $ 162,500 $ 1,171,500
55 33 $ 1,011,500 $ 275,000 $ 225,000 $ 1,511,500
60 38 $ 1,306,000 $ 312,500 $ 290,000 $ 1,908,500
65 43 $ 1,670,500 $ 375,000 $ 375,000 $ 2,420,500
While the NY Metro area continues to be the laggard of the bunch, it continues to move towards positive territory every month.
Aggregate year over year decline is down to -1.2%, the high tier (Properties over $436k) are now down only 1.1% year over year.
Big winner this month is the low tier index (Under $263k), which continues to stay in positive territory for the year, up 1.2%.
The last two months were negative so how can it be positive every month?
grim says:
January 29, 2013 at 9:32 am
While the NY Metro area continues to be the laggard of the bunch, it continues to move towards positive territory every month.
Aggregate year over year decline is down to -1.2%, the high tier (Properties over $436k) are now down only 1.1% year over year.
Big winner this month is the low tier index (Under $263k), which continues to stay in positive territory for the year, up 1.2%.
Elon Musk has long considered Tesla Motors Incthe bold, nimble answer to the auto industry’s cautious culture. Now the electric car maker’s top executive has extended his help to another industrial giant: Boeing Co.
In a January 26 message on Twitter, Musk said he was in talks with the chief engineer of Boeing’s 787 Dreamliner plane, which regulators have grounded indefinitely after a string of malfunctions ranging from fuel leaks to battery meltdowns.
“Desire to help Boeing is real & am corresponding w 787 chief engineer,” Musk wrote on the social media website.
Musk, who is also the CEO of space transport company SpaceX, told Reuters in an email late on Monday that SpaceX battery packs could be helpful for Boeing.
“We fly high capacity lithium ion battery packs in our rockets and spacecraft, which are subject to much higher loads than commercial aircraft and have to function all the way from sea level air pressure to vacuum. We have never had a fire in any production battery pack at either Tesla or SpaceX,” Musk said in the email.
Boeing declined to comment or confirm if such discussions were taking place.
Boeing’s chief 787 engineer, Mike Sinnett, has recently made presentations about the plane and its battery technology to reporters and industry leaders.
Musk’s post came a week after his first dispatch to Boeing on January 18: “Maybe already under control, but Tesla & SpaceX are happy to help with the 787 lithium ion batteries
Read more: http://www.businessinsider.com/now-elon-musk-is-helping-boeing-save-the-787-dreamliner-2013-1#ixzz2JNPc4y00
The last two months were negative so how can it be positive every month?
Because the year over year change is on a trend line that has it quickly approaching zero, and presumably moving positive shortly thereafter.
I can say this with some level of confidence as the S&P Case Shiller is a 3 month running average. In order for the YOY change to get smaller, the current month can not have performed worse than the prior 3 without causing the decline to get wider.
Or said another way, we started this year down approximately 3% from the year before, we’re currently down 1% from the year before. Every month in between the start and now, the declines have shrunk. Plot out the trendline and by spring, it’s highly plausible that we’re talking about year over year price increases in the NY Metro.
Really seems like the NY metro is lagging the non-super-bubble markets by about 6 or 9 months.
Also worth noting that the condo index continues to stay positive (where is Weehawken these days anyway?), up 7.3% year over year, the largest single month increase since 2006, by far the best performing sector in the NY Metro.
Safe to say we got the condo market predictions completely wrong (at least I did). I based my predictions on the performance of the condo market relative to single family during the previous downturn, where condos performed significantly worse than the overall market. This time is a complete 180′. Not only did condos not decline as much as SFH during the downturn, they also started their recovery significantly earlier than the SFH market.
Condos began a clear recovery in May, 7 months ago, which puts the condo market in-line with the rest of the country from a recovery perspective.
Interesting regarding the condo shift, you know, I spent some time talking with my uncle who was an active builder during the 80s bubble and bust (and still is), and he pointed to clear overbuilding as the major factor during the last decline (he was pretty adamant on this being the cause). Some of the largest condo and townhouse developments in NJ were built during the 80s bubble (I think most of the largest were, for example, most of the major developments in Somerset, etc).
Condo construction during this bubble wasn’t nearly at the same rate as during the bubble, even at it’s peak it wasn’t even close. Makes sense that the 80s condo underperformance was driven by oversupply, similar to the behavior we saw in other markets nationally. Relative performance during the recent decline and recovery might point to undersupply combined with demographic shifts towards re-urbanization and smaller housing located closer to job centers, etc.
Condo construction during the recent boom was focused more on the urban areas than in the 80s, where condo development was very suburban focused. In contract, the suburban development during the recent bubble was largely SFH.
Another day closer to oblivion.
Just a few months ago,talks about getting mortgages for condo is almost impossible due to HOA uncertainty. I even inquired about a condo in Orlando,cash only is the norm.
Does the increase in sales and prices CASH ONLY buyers?
Quick look on NJMLS (easier to run stats on condos/townhouses) shows Q4 sales of Condos/Townhouses/Coops in Bergen County up 18% year-over-year in 2012, and up 25% since 2010. Again, just using NJMLS/Bergen because it’s easier to run the stats, not because I’m trying to highlight Bergen for any reason.
This kind of increase is just too big to explain by an increase in cash buyers.
JJ,
THE AVERAGE NET WORTH OF THE ABOVE AVERAGE PERSON
I was wondering where these numbers came from and how they were achieved. I believed that this data is probably garbage and based on someone’s conjecture and I was right.
http://www.financialsamurai.com/2012/05/14/the-average-net-worth-for-the-above-average-person/
I love how there are 10 preconditions on the “above average” person and number four lists that they don’t rely on mom, dad or government while number 10 states that they have no loan debt because they are either super smart and got grants and scholarships or that their parents paid for college. I think that there is a slim chance that both 4 and 10 can be right at the same time. This means that he is lumping above average people with rich people. It isn’t a sampling of college educated and is just conjecture.
I would think that you would take a bit more time to vet your sources and not redistribute garbage data. I come to this forum to be educated, not made “more stupider”
I don’t know if there is a good source for the data you want but this one is not worth clicking on.
jj is channeling 1957. Any numbers he posts here that don’t relate directly to his current investments are complete fiction.
Funny how all of jj’s high-net-worth neighbors became instant white trash during Sandy.
And I know my white trash.
http://www.youtube.com/watch?v=s0aqPjnrosA
Joyce this is anecdotal but just about every family in my neighborhood has a stay at home mom w/ working father (myself included). The only exceptions are retirees and the couple across the street who are empty nesters…
105.joyce says:
January 28, 2013 at 11:43 pm
104
The ability of one wage earner to comfortably support a family has been systematically destroyed mainly by inflation. Your problem is directly with govt or (govt sanctioned) programs.
All you have to do is look in a mirror.
33.Ernest Money says:
January 29, 2013 at 11:05 am
And I know my white trash.
http://www.youtube.com/watch?v=s0aqPjnrosA
College debt is a new thing. When I went to school you went to a good school if mom and dad paid for it or you went to a school you could afford. I picked schools that after financial aid and whatever part time work I could have paid for it. I graduated with no debt. I say nearly everyone in the 1950s to early 1990s did the same. School tuition hyper inflation did not really take off till the mid 90s. My part time MBA I did between 1990 and 1993 only cost me 20K which was 100% paid by my company.
Also back then there were no cheap loans. Car loans were expensive and hard to get, I only bought cars I saved for and interest rates being sky high I never carried a balance and checking paid me 8%!!!!
Average 50 year old I know, graduated school zero debt, does not own a mcmansion and bought home in 1990s, has no car loans, maxes out 401k, 529 etc and is at peak earning power of career. The value of home is irrelevant at this stage of game.
That stat I think is just removing people who were laid off, had a disability, below average IQ, no college degree. Folks who had a lucky gene pool, good health, IQ and education and entered an industry that did well are the above average persons.
When I compare my net worth to others my age. That is who I compare it to. The people I know with college degrees working constantly since college with no set backs in their careers.
I started in banking at Barclays bank full time no less when I was 18. I have never been laid off, never took time off between jobs, folks at 46-60 had three huge bear markets, after 1987 crash, after 9/11 and after financial crisis of 2008 to keep plowing away dollar cost averaging into their 401ks and had a 31 year bond bull market. They also had around 30 years of compounding. These are the folks the article is counting.
Plenty of folk loss their job regularly, have stints of unemployment and/or disability and does not do max in 401K or are stuck in low income jobs as they did not finish college or choose to work some bs job.
People on yankees compare themselves to baseball players in MLB on good teams. they dont say well if you count in million of little leaguers I am really really good.
Nicholas says:
January 29, 2013 at 10:48 am
JJ,
THE AVERAGE NET WORTH OF THE ABOVE AVERAGE PERSON
I was wondering where these numbers came from and how they were achieved. I believed that this data is probably garbage and based on someone’s conjecture and I was right.
Working women are as useful as tutu’s on poodles
Stay at home Mom’s are priceless.
I also noticed how some leverage themselves out.
Most are fully recovered now. I think it hit them by they needed to come up with like 100K cash in a matter of weeks all without power or electricity or cars. Insurance pays afterwards and folks with no insurance SBA loans take a while and grants are slow to come.
I had a bit of a squeeze myself. I went all in a week before and only had like 40K in checking and could not access my stock and brokerage accounts for like three weeks.
Between everything cars, homeowners, fema I got paid 90K. I had to front 110K in a matter of a few weeks. Next hurricane season more folks will leave an extra 100K in cash sitting around they may have to save a few months, but hey sometimes you have to bite the bullet. I am not taking kids to Beaches or Disney this year to show them how serious this is. And I bought a used cadilac. this is a crisis.
Ernest Money says:
January 29, 2013 at 11:04 am
Funny how all of jj’s high-net-worth neighbors became instant white trash during Sandy.
Note to self: next time weather is a little dicey, put 100K in checking account.
Or savings. Also move cars. And find that hot neighbor who is one of those “preper” folks and do her night before since it is the end of the world anyhow.
Also move all leased cars that are over milage limits to a flood zone. Beach Street Far Rockaway sounds good
Ernest Money says:
January 29, 2013 at 11:27 am
Note to self: next time weather is a little dicey, put 100K in checking account.
Perhaps everyone I know is just below average.
There isn’t a single person in my sphere that saved 13k-27k in the first year of work. Almost everyone I have ever known starts at around 35-55k per year out of college which would mean they would have to save 30+% of their income to reach those levels.
Study partner of mine, bilingual japanese and english, straight A student in engineering got 70k per year out of college. That is not above average but extraordinary. She also came out with 50k in college debt.
Perhaps in the financial samuri world no one ever has kids or dependents. I stand by my position that this data is garbage and shouldn’t be used as a basis of comparison against anyone even “above average” people. Reading data off that website is like women reading style magazines and thinking that they should look like what they see on the pages on the pages when all the pictures have been airbrushed.
Considering that around 30% of Americans go on to get a college education and that an even smaller portion of that are smart enough to get scholarships, grants, or have parents pay their way, what the writer is referring to is not “above average” but rather “extraordinary” savers.
Hello there, I found your site via Google while looking for a comparable matter, your web site came up, it appears great. I’ve added to favourites|added to my bookmarks.
Here is another gem from the financial samurai that pretty much seals in my point. The writer is only trying to grab page views with hot button topics and conjectured data.
http://www.financialsamurai.com/2010/08/31/how-to-get-girls-if-you-live-at-home-with-mom-dad/
Other great reads from this site include but not limited to…
Don’t Have Children If You Can’t Take Care Of Yourself
Renters Should Pay More Taxes
The Curse Of Making Too Much Money And Not Pursuing Your Dreams
How To Make Six Figures A Year At Almost Any Age
Nicholas female engineer is a dead end job. You get paid a lot out of school but by 40 you are making peanuts. Also biligual japanese for a women qualifies her to work as a secretary or a hostess at a mans club in Japan.
I used to have a nice smart girl working for me. Had an A average out of NYU, top HS in Japan. Spoke perfect English. And perfect Japanese. Was like 26 and lived in US since 17.
Sadly she was like a novelty act. I used her to translate, take to meetings. Had a few others girls working for me who spoke perfect Japanese and so so english. But this one spoke better english than me, went to a better college, had a better GPA, had richer parents, was more cultured than me. But bottom line the japanese only want japanese men over 40 in management and they will tolerate american and german men over 40 if they have to.
Study partner of mine, bilingual japanese and english, straight A student in engineering got 70k per year out of college. That is not above average but extraordinary. She also came out with 50k in college debt.
I long for last week.
joyce: I normally would not question anything you post, because you are a voice of reason against the forces of idiocy that pollute these threads. In that vein, please allow me to say something I consider factual not sexist, and should not be treated from the standpoint of provocation, but rather a review of economic data.
Women entering the workforce (i.e. both spouses being employed) in large numbers a generation ago has been one of the root causes of inflation. Before those days, a second spouse in the workforce created a strong economic advantage that allowed for additonal consumption. Once it became adopted by a large segment of society, it flipped to create an economic disadvantge to have only one income in the household.
joyce says:
January 28, 2013 at 11:43 pm
104
The ability of one wage earner to comfortably support a family has been systematically destroyed mainly by inflation. Your problem is directly with govt or (govt sanctioned) programs.
JJ,
I agree with you there.
I visited with her 10 years later over lunch and she was pissed that I had surpassed her in income. I think her exact words were “dammit”.
Lower earning power of women in engineering or in male dominated Japan is not the point. The point was that even for the top earner out of school that stashing away 13-27k is unrealistic unless you are already rich because it represents too much of your income.
That website should never be cited as a reference for anything.
chicagofinance,
Try rephrasing from “economic disadvantage” to “luxury” and that might soften the blow even if the wisdom rings true.
It is now considered a luxury to have a stay at home parent.
I agree, but I joined my first 401K in August 1987 when I was making 28K a year, I put in 6% which was like $1,700 and company matched it 50 cents on a dollar so I put in like $2,500 but remember, that is 25 years compounding and years like 1988-1998, 2002-2004 and 2008-2012 stocks were cheap. Even putting in little amounts during cheap periods and holding in excess of 20 years you start to move.
The years like 1999-2001 or 2004-2007 even if you put in a lot it did not move a lot as you bought high and did not have it in long enough to compound the money.
By 51, 30 years out of school the key was just to put enough in to get match and never stop. Compounding and dollar cost average will make the 401K worth more than equity in your house
Nicholas says:
January 29, 2013 at 12:11 pm
JJ,
I agree with you there.
I visited with her 10 years later over lunch and she was pissed that I had surpassed her in income. I think her exact words were “dammit”.
Lower earning power of women in engineering or in male dominated Japan is not the point. The point was that even for the top earner out of school that stashing away 13-27k is unrealistic unless you are already rich because it represents too much of your income.
jj (44)-
And look how well the Japanese have been doing the last 20 years.
“But bottom line the japanese only want japanese men over 40 in management and they will tolerate american and german men over 40 if they have to.”
It is a luxury to have a working spouse. I could never afford it. Only rich folk can afford a working wife. Child care for three, subway railroad, breakfasts, lunches, drycleaning, maid, takeout. And me taking a paycut to get a job that allows me to be mr mom 50% of time makes no sense. Now with higher tax rates above 400k, if wifes income pushes you above 400K no point at all.
Working spouses make sense until second kid is born, after that women are working to be fulfilled and not be a housefrau
Nicholas says:
January 29, 2013 at 12:17 pm
chicagofinance,
Try rephrasing from “economic disadvantage” to “luxury” and that might soften the blow even if the wisdom rings true.
It is now considered a luxury to have a stay at home parent
46 – Chi
My thoughts exactly. I remember being angry that my wife and I were basically being forced to both work and put our children in day care to have them raised by a stranger. We were detirmined to find some other way. It has not been easy, but life never is…
We live in a modest 1300sqft house update it when we can….it just takes sacrifice. The purchase of a house in 2006 was a huge punch in the gut (self inflicted) but the sun keeps coming up everyday.
japanse male executives are doing fine.
Ernest Money says:
January 29, 2013 at 12:24 pm
jj (44)-
And look how well the Japanese have been doing the last 20 years.
Urrp is toast.
Japan is about to be toast.
Then comes us.
brain (52)-
Funny. I didn’t realize you could see the sun rise underwater.
55 –
I constructed a submarine. Where there’s a will there’s a way.
jj (53)-
Oh. Pardon me.
All is fine in Japan. Please carry on.
“japanse male executives are doing fine.”
brain (56)-
Are you hoping to be the first person to leave Sussex Co. via submarine?
“I constructed a submarine. Where there’s a will there’s a way.”
The way it seems down here in the lower counties, most people will be leaving Sussex Co. feet first.
I have been to japan a few times. Mitsubishi Village is amazing, executives get free Mitsubishi cars, corporate housing, fat expenses accounts and a nice office. Plenty of late nights at rupangi, you can smoke at work and men only clubs you can expense.
Plus kobe beef. Granted life of average Jap is not nice and unless you are male with connections and the right school you cant get these jobs.
I like fact the used to hire me to consult a lot. A meeting with me or dinner with me is well worth my ANA flight and $500 dollar lunch tab. I charge like a spitzer girl.
Ernest Money says:
January 29, 2013 at 12:29 pm
jj (53)-
Oh. Pardon me.
All is fine in Japan. Please carry on.
“japanse male executives are doing fine.”
Mine has windows so the mermaids can give me bjs
Brian says:
January 29, 2013 at 12:29 pm
55 –
I constructed a submarine. Where there’s a will there’s a way.
Brian’s submarine:
http://images.fineartamerica.com/images-medium-large/civil-war-submarine-granger.jpg
According to the San Mateo Daily Journal, former 49ers tackle Kwame Harris has been charged with assaulting “his former boyfriend at a Menlo Park restaurant during an argument over soy sauce and underwear.”
The alleged victim, Dimitri Geier, also has filed a civil lawsuit against Harris for assault, battery, false imprisonment, negligence, and intentional and negligent infliction of emotional distress.
Geier claims that Harris became upset when Geier “poured soy sauce on a plate of rice,” and that Harris later “pull[ed] the other man’s pants down and accused him of stealing his underwear.”Attorney Alin Cintean says that Harris did nothing wrong. (Imagine that.) “This really is a pure self-defense case. [Harris] was attacked,” Cintean said. Harris, who faces seven years in prison, was freed on $75,000 bail. The 2003 first-round pick played five years with the 49ers and one with the Raiders.
Give Steve Kroft credit for being honest about going easy on The One.
http://www.youtube.com/watch?v=jFkRgL7dnvM
私は日本語を理解していない
Back to Ingrish.
http://www.ed.gov/blog/2013/01/we-must-provide-equal-opportunity-in-sports-to-students-with-disabilities/
How many districts will shut down sports programs rather than bear the additional cost? Hard to say. Some states already do this so there is a case study.
I think that I will sponsor some liberals to challenge my rival high school’s athletics program; see if I can’t knock them out of the box or make them put some disabled players on the field.
They should shut down all sports programs. You dont see the chinks and japs playing sports in HS all day, they go to school all day.
Comrade Nom Deplume. Apparently. says:
January 29, 2013 at 12:57 pm
Back to Ingrish.
http://www.ed.gov/blog/2013/01/we-must-provide-equal-opportunity-in-sports-to-students-with-disabilities/
How many districts will shut down sports programs rather than bear the additional cost? Hard to say. Some states already do this so there is a case study.
I think that I will sponsor some liberals to challenge my rival high school’s athletics program; see if I can’t knock them out of the box or make them put some disabled players on the field.
Yome,
Short on study details but this highlites the issues we raised. Interestingly, the very conservative friend who sent me this thinks that it is a false comparison, and that the authors should have considered the cost of deporting illegals.
http://www.foxnews.com/politics/2013/01/28/cost-giving-illegal-immigrants-path-to-citizenship-could-outweigh-fiscal/
“We Must Provide Equal Opportunity in Sports to Students with Disabilities”
Please tell me that Rex Ryan is not behind this.
JJ [40];
And find that hot neighbor who is one of those “preper” folks and do her night before since it is the end of the world anyhow.
http://dilbert.com/strips/comic/2011-07-31/
Rex’s brother got fired today. Lets hire him on Jets so we can have some fun.
Sanchez has some kooky spots all over his face, Tebow seems to not be able to go too long without kneeling and the third stringer has an arm disability.
Libtard in Union says:
January 29, 2013 at 1:19 pm
“We Must Provide Equal Opportunity in Sports to Students with Disabilities”
Please tell me that Rex Ryan is not behind this.
Nom,
That article is wrong. The amnesty will let the person go through immigrant status. Medicaid and food stamps is not available for legal age LPR immigrants. They can apply for this benefits once they take oath after 5 years.
The amnesty in the 80s required the person 1.proof of income 2. Police clearance 3. Date of entry with continous stay in the US since 82.
http://www.expertlaw.com/forums/showthread.php?t=36589
nom[68]
I don’t understand btw why legalization of the now illegals will make them pay more taxes – unless they somehow get better paying jobs… At least those now working for the organized businesses get taxes automatically withdrawn, they just get credited to some bogus SSN… and the day laborers paid cash by the contractors won’t contribute whether they are legal or not. The drain on benefits will increase no doubt.
[40] JJ
“Also move all leased cars that are over milage limits to a flood zone. Beach Street Far Rockaway sounds good”
Sage advice as usual. I had a friend on the island who went waaaaay over on his lease mileage, such that he would pay thousands in disposition costs. Told him to leave it somewhere in the bronx with the keys in it and call in a carjacking. Deductible less than disposition.
[73] cobbler,
DING, DING, DING. We have a winner, folks.
http://www.masslegalhelp.org/income-benefits/food-stamps-for-legal-permanent-residents
[72] yome,
The article reports what the academics conclude, so the article can’t be wrong unless it misquotes the academics. Your issue is with the studies, which I don’t have so I can’t say if they are right or not (and given the nature of these, no one can–you have to wait for history and try to screen out externalities).
[69] libtard,
I’m all for hiring the handicapped, and I think that the NY teams should be the leaders here.
yome[72]
Eligibility is state-by-state. Troubles that CA has with their welfare and Medicaid largely result from LPR becoming eligible right on the day of arrival.
The salt water is even better as it kills the computer.
There are a few junk yards in Brooklyn that roll back miles for like 500 bucks. They only capture millage normally at inspection time. I recall a girl I knew who lived in suffolk, worked in brooklyn and had a hamptons share and went sking a lot, she was like almost 30K over and rolled whole thing back, had it detailed, bought new mats and gave it back. I wonder what next guy though when his 36k car had 66k and things started falling apart pretty quick.
Scares me all the junks yards can do it even on high end cars. They also charge 500 cash to throw it in shredder for you. I think extra if body is in trunk
Comrade Nom Deplume. Apparently. says:
January 29, 2013 at 1:33 pm
[40] JJ
“Also move all leased cars that are over milage limits to a flood zone. Beach Street Far Rockaway sounds good”
Sage advice as usual. I had a friend on the island who went waaaaay over on his lease mileage, such that he would pay thousands in disposition costs. Told him to leave it somewhere in the bronx with the keys in it and call in a carjacking. Deductible less than disposition.
Many of this illegal aliens are highly educated that took a chance and take low paying jobs in the US. The dollar that they get paid in the US still more than what they will make in their profession in their country.Some are doctors etc in their own country and work low paying jobs in the US hoping to marry or a amnesty will come.
I know friends that got amnesty from the 80s that are now succesful. One is an accountant and I was surprise he lives in blakhawk , ca. I checked the area 1.5 million dollar homes. The other owns 3 elderly homes in ca. The others work in the pharma business. This people were working as nurses aides before the amnesty
Wouldnt an american just got those jobs if they were not here. Really,
yome says:
January 29, 2013 at 1:48 pm
Many of this illegal aliens are highly educated that took a chance and take low paying jobs in the US. The dollar that they get paid in the US still more than what they will make in their profession in their country.Some are doctors etc in their own country and work low paying jobs in the US hoping to marry or a amnesty will come.
I know friends that got amnesty from the 80s that are now succesful. One is an accountant and I was surprise he lives in blakhawk , ca. I checked the area 1.5 million dollar homes. The other owns 3 elderly homes in ca. The others work in the pharma business. This people were working as nurses aides before the amnesty
Cob,
Read 76
The rul3s are there but not being followed
JJ with lak of educated americans. No
Remeber in the 80s we granted open status for immigrants with a degree in accounting, nursing, programmers etc
Damn droid
“I don’t understand btw why legalization of the now illegals will make them pay more taxes – unless they somehow get better paying jobs… ”
No, but they’ll continue to vote blue for sure if you pass this. Isn’t that what nearly every decision is about? It’s also probably why the disabled should have the capability play school sports. And it’s also why the Repubs all claim to be anti-choice, except when it comes to their own daughters.
Nah, I’ve just become unhinged.
chicagofinance,
I define inflation as what I’ve read was the original description [The term “inflation” originally referred to increases in the amount of money in circulation, and some economists still use the word in this way. (wiki)] I could provide several other sources.
I like this definition because it seems logic to me that it’s impossible for the ‘general price level’ to rise without a corresponding increase in money/credit. Temporary price increases can result obviously from shortages, etc for various reasons (man-made or not) but never permanent, relenetless, and unyielding price increases spanning generations. Therefore, I do not see how increasing the workforce, even to a huge degree, would CAUSE inflation. I believe it was one of the results of inflation along with prices rising.
(fyi, no need to worry about being sexist). We get enough of that plus racism from JJ… I guess he think it’s funny? I see it as boring, waste of time, and not even creative.
46.chicagofinance says:
January 29, 2013 at 12:07 pm
joyce: I normally would not question anything you post, because you are a voice of reason against the forces of idiocy that pollute these threads. In that vein, please allow me to say something I consider factual not sexist, and should not be treated from the standpoint of provocation, but rather a review of economic data.
Women entering the workforce (i.e. both spouses being employed) in large numbers a generation ago has been one of the root causes of inflation. Before those days, a second spouse in the workforce created a strong economic advantage that allowed for additonal consumption. Once it became adopted by a large segment of society, it flipped to create an economic disadvantge to have only one income in the household.
joyce says:
January 28, 2013 at 11:43 pm
104
The ability of one wage earner to comfortably support a family has been systematically destroyed mainly by inflation. Your problem is directly with govt or (govt sanctioned) programs.
JJ.
You yourself said, you want to hire “hungry for success”.This are your people.They came to this country educated (education is cheap in the 3rd world),hungry trying to survive and ready to work hard to achieve the American Dream.Hell,they sacrifice to make pennies that is not equivalent of their capabilties.
88
continuing… wouldn’t increasing the number of workers available depress wages? (for the applicable industries) And that’s not even assuming a non-inflationary environment; today with banks/govt printing away and excess labor due to credit crisis, wages have been depressed as a result.
I dont want them at work. I want them providing cheap labor outside of work. . At work I like kids who are first generation American with street smarts.
My friend who was chinese said there is a world of difference between someone from china who came to US at 14 and did HS and College here then someone who immigrated after college. It is true I had them both.
yome says:
January 29, 2013 at 2:09 pm
JJ.
You yourself said, you want to hire “hungry for success”.This are your people.They came to this country educated (education is cheap in the 3rd world),hungry trying to survive and ready to work hard to achieve the American Dream.Hell,they sacrifice to make pennies that is not equivalent of their capabilties.
Wow, awesome blog layout! How long have you been blogging for? you make running a blog look easy. The total glance of your site is excellent, let alone the content!
Joyce the issue with equal pay in the workforce is I know tons of stay at home moms whose husbands out earned them due to gender inequality. Although some is if you have three kids and leave on disability three times in your 30s hard to move up ladder quickly. No difference than a guy who takes three medical leaves.
These women my wife include decided to use this to their advantage and leave workforce and be stay at home moms. There is a happy group of women particularly in bedroom towns of women who met their husbands, on wall street, law firms, accounting firms, banks, insurance companies etc where they married men in same industry, left workforce at 35 for good and are happy to have a husband making double which allows them to stay at home.
A female big four partner who was 42 once told me. I used to think the women who right after making manager at 29 and grabbing onto a senior manager about to make partner getting engaged, then married, quiting and having kids were all losers. But now at 42 I am working 14 hours a day like a dog and those ladies are playing tennis, going to school plays, meeting up for lunch and living the life while their husbands toil 14 hours a day. I now realize I was the one who made the wrong move.
If Gender pay became a reality these stay at home moms, long out of workforce with non-marketable skills would be screwed. Their husbands
I started blogging in 1969 in my spare time between being a bat boy for 1969 mets, a wingman for Joe Namath and launching Apollo 11 to the moon. I pretty mush invented blogging.
http://www.needrapidcash.com says:
January 29, 2013 at 2:39 pm
Wow, awesome blog layout! How long have you been blogging for? you make running a blog look easy. The total glance of your site is excellent, let alone the content!
Cobbler,
I watched the movie “The Iron Lady” last night. It was about Margaret Thatcher. You’d like it because the people making the movie clearly didn’t like her, besides her being a “strong woman” and thus that aspect of her was ok from the feminist perspective. Anyway, returning to your logic regarding Pain, you would have to conclude that Margaret Thatcher was hypocritical for criticizing England’s socialist programs while simultaneously drawing her salary from government. Same for Ronald Reagan – he was on the government payroll while president, so it’s hypocritical to work to reduce the size of government.
At least the O-ly one agrees with you – he’s on the government payroll and makes expanding government priority one.
joyce/chifi – we could prob spend all day discussing all of the social and economic factors that went into it. I tend to lean towards the initial genesis of it being a result of inflation at first, which then kicked off a self-feeding cycle. it’s like chaos theory :)
Good article from Cliff Asness on three things Republican should change
Immigration
Government schools
Ending the war on drugs
http://www.american.com/archive/2013/january/the-gop-must-lead-again-on-civil-rights
yome[81]
Do you have any statistics on the share of the illegal aliens who are “highly educated”? I believe it is rather small, since the countries like Canada and Oz offer hassle-free PR visas to most everybody with the degree in the high-demand field – why wash dishes here waiting 20 years for an amnesty? My bet is that college-educated illegals are less than 5% of the total, unless you count degrees in Islamic studies (for Pakis) or History of Maoism – then we can get to 10%…
JJ,
My wife doesn’t like tennis, school plays, and lunches that stuff. She likes the stress of managing people. Also, going back to work means she doesn’t have as much time to hire landscapers, which has got to be the fastest way to spend money on a house possible. After 50% marginal taxes, commuting costs, and additional child expenditures, financially she’s mostly working for the 401k, better medical benefits, and the optionality of working if my income disappeared.
Good job bringing up your own line of argument and then trying to debunk it. Who brought up equal pay? We were talking about inflation causes/effects et al.
Thank you for once again repeating yourself with the same stories. Plus while I’m bothering to take the time to respond to your garbage, let me inform you that I fell out of my chair laughing at your 14hr work day.
Any more fantasies you’d like to post?
93.JJ’s B.Se says:
January 29, 2013 at 2:52 pm
Joyce the issue with equal pay in the workforce is I know tons of stay at home moms whose husbands out earned them due to gender inequality. Although some is if you have three kids and leave on disability three times in your 30s hard to move up ladder quickly. No difference than a guy who takes three medical leaves.
These women my wife include decided to use this to their advantage and leave workforce and be stay at home moms. There is a happy group of women particularly in bedroom towns of women who met their husbands, on wall street, law firms, accounting firms, banks, insurance companies etc where they married men in same industry, left workforce at 35 for good and are happy to have a husband making double which allows them to stay at home.
A female big four partner who was 42 once told me. I used to think the women who right after making manager at 29 and grabbing onto a senior manager about to make partner getting engaged, then married, quiting and having kids were all losers. But now at 42 I am working 14 hours a day like a dog and those ladies are playing tennis, going to school plays, meeting up for lunch and living the life while their husbands toil 14 hours a day. I now realize I was the one who made the wrong move.
If Gender pay became a reality these stay at home moms, long out of workforce with non-marketable skills would be screwed. Their husbands
grim I think outperformance of condo’s reflects inner cities becoming fashionable again. In the 80’s people were still fleeing to the suburbs, now the suburbs are suffering because people are raising families in Manhattan/Brooklyn.
ragnar [95]
It is pretty much a strawman argument… Thatcher and Reagan campaigned to change the way government operates, and were elected to do just that. I have no issue with the congressmen-even the nuttiest ones-getting paid (though I think they are overpaid), because they represent the voters who are as nutty, and need to be represented. I have a problem with the people who are piling crap on their employer (that they chose voluntarily) on a public forum.
Yes that you actually own a restaurant
joyce says:
January 29, 2013 at 3:04 pm
Good job bringing up your own line of argument and then trying to debunk it. Who brought up equal pay? We were talking about inflation causes/effects et al.
Thank you for once again repeating yourself with the same stories. Plus while I’m bothering to take the time to respond to your garbage, let me inform you that I fell out of my chair laughing at your 14hr work day.
Any more fantasies you’d like to post?
“now the suburbs are suffering because people are raising families in Manhattan/Brooklyn.”
Tell that to the influx of Manhattanites and Brooklynites who are keeping the rents sky high in Montclair.
I like the optionality of working if your income disappears. But how is that a perk for her. I actually would like to have that. If I ever got laid off I could muck around for a year or two if wife worked. I know a lot of single pretty ladies down in long beach who could use some “volunteer” help and crisis counseling post sandy. AHH> a man can dream.
Ragnar says:
January 29, 2013 at 3:04 pm
JJ,
My wife doesn’t like tennis, school plays, and lunches that stuff. She likes the stress of managing people. Also, going back to work means she doesn’t have as much time to hire landscapers, which has got to be the fastest way to spend money on a house possible. After 50% marginal taxes, commuting costs, and additional child expenditures, financially she’s mostly working for the 401k, better medical benefits, and the optionality of working if my income disappeared.
103
Sure… and that you’re not a glue sniffing basement dweller.
105
And perhaps you should wake up from that dream, finally.
Now you’ve made me link to that picture of JJ again Joyce.
http://i442.photobucket.com/albums/qq145/stuw6/2661_1089321521728_1487173878_237983_1494664_n.jpg
ahh joyce…your likely unintentional quasi reference to “Airplane” has me smiling :)
“Sure… and that you’re not a glue sniffing basement dweller.”
Yeah these people will buy your house.
http://opinionator.blogs.nytimes.com/2013/01/26/the-rise-of-the-permanent-temp-economy/?src=recg
For example, in 1971 the recently renamed Kelly Services ran a series of ads in The Office, a human resources journal, promoting the “Never-Never Girl,” who, the company claimed: “Never takes a vacation or holiday. Never asks for a raise. Never costs you a dime for slack time. (When the workload drops, you drop her.) Never has a cold, slipped disc or loose tooth. (Not on your time anyway!) Never costs you for unemployment taxes and Social Security payments. (None of the paperwork, either!) Never costs you for fringe benefits. (They add up to 30% of every payroll dollar.) Never fails to please. (If your Kelly Girl employee doesn’t work out, you don’t pay.)”
One word “oil”. Much of the goods consumers purchase are constructed from it or are moved to market using motor fuels created from oil. Many fertilizers are created from it. A rise in the price of oil would affect most goods and services no? Given the recent increases in domestic oil production, I wonder if this would create downward pressure on “general price level”.
I like this definition because it seems logic to me that it’s impossible for the ‘general price level’ to rise without a corresponding increase in money/credit
[55] “Funny. I didn’t realize you could see the sun rise underwater.”
This one made wading through today’s comments worthwhile. Classic.
About the permanent temp. Just look at Westchester County Medical Center. Last year they got rid off all the permanent nurses staff and replaced with Agency. They are doing the same this year with the X-ray and other departments.
Some of the bankrupt non-profit hospitals that were bought by for-profit companies are doing this. Meadowlands Hospital in Secaucus comes to mind. And this is what is expected to happen in the soon to reopen old Pascack Valley Hospital operated by Hackensack Medical Center.
In short – healthcare jobs were the stable, bread and butter jobs. Well no more.
http://www.northjersey.com/closter/Former_Jets_Giants_pay_for_fame_with_unending_pain_disabilities.html
some folks who are disable who can play on those new disabled teams. that would be funny, we do superbowl for disabled former NFL folks.
jj (71)-
Cromartie is far and away the most disabled Jet. He has such an inability to keep his thang in his pants that you have to believe it’s because it contains his brain.
112
Lend as much credence as you want to the following:
http://en.wikipedia.org/wiki/File:US_Historical_Inflation_Ancient.svg
Still blaming it on oil?
He plays three positions in some games, and he kept his pants on the entire time he was a jet and was rarely injured.
Revis is better WHEN he plays. But the guy breaks like glass.
Jets better man up and give me 2014 SB tickets.
Ernest Money says:
January 29, 2013 at 3:45 pm
jj (71)-
Cromartie is far and away the most disabled Jet. He has such an inability to keep his thang in his pants that you have to believe it’s because it contains his brain.
“But the guy breaks like glass. ”
– didn’t he play 16 games his first 3 years?
joyce: As ridiculous as it sounds, I consider jj legit. His stories all jibe, and I’ve never caught an inconsistency in his embellishments. Considering how prolific his posts are, it all leads to the conclusion that he is the real deal. His finance knowledge and the context of his references are all correct. I guess it helps that I know people that are very similar in accomplishment, if not prurient style (i.e. hardscrabble blue-collar guys that are savants and stunningly effective at their coporate finance jobs despite an unorthodox approach).
joyce says:
January 29, 2013 at 3:16 pm
105 And perhaps you should wake up from that dream, finally.
Don’t encourage him.
Happy Renter says:
January 29, 2013 at 3:36 pm
[55] “Funny. I didn’t realize you could see the sun rise underwater.”
This one made wading through today’s comments worthwhile. Classic.
I suspect JJ is a notch or two lower on the rung than he projects, however. Seems to spend too much time in HR related tasks. Which is crazy given how non-PC he is. Maybe this is his outlet for the stuff he’d like to say at work. I’m guessing he does more supporting than leading at some bond-oriented financial company.
This just occurred to me as I walked by it.
The barber shop I now frequent is called Cruisin’ Style, on Gay St.
Why didn’t I see that coming? JJ, feel free to weigh in here.
Thanks CHifi and I always thought you were the easter bunny.
Brian I lead the people who lead the people who lead. Or something like that between blogging, bond trading, football, cars, beer and women and surviving floods
[121] Brian — Sometimes one just has to laugh at the collective mess . . .
But you have the right attitude of course, and I wish you and your family all the best.
Re: [114];
I see the “Temp” thing as transitional, nothing more than employers exercising and leveraging their power to lower the wage scale. Existing employees by and large will not sit still for a wage cut to stay in place. So they replace with perma-temps who will accept the new wages. Employers may or may not have to make the new employees ‘permanent’, and/or offer benefits previously offered to the former staff, depending on the cost of training and turnover, etc.
Cobbler,
The rules I have stated are from the INS.This are requirements for the interview.If the State will give a non US Citizen foods stamps,medicaid that is a different story.What I sited is federal rules.
As far as studies in the number of educated illegals ,non.But think of illegals that came by plane that are here that needed a visa .Business or Student visa that their stay have expired. To get a B1 B2 visa to come to the US,you need to show a stable bank account usually that comes from a business or practice. This is enough proof to the INS that you have the intention of coming back after a US visit.This educated professionals let the visa expire and stay here illegally. This could have happen after 1983 after the Amnesty cut off to before the great recession.
As far as Illegals that can walk and cross the border,what will be a true measurement that they are not a burden.If all INS rules are followed,1.they need to provide proof of income 2 Police Clearance 3 Proof of entry ,continous stay from time of amnesty. 4.They can not qualify for food stamps or medicaid until becoming a US citizen.As per INS rules.Notify all States,this benefits are for US Citizen.5.Be required to buy health insurance as per Obama Care.
You are right.Most people I know from the Motherland are migrating to Australia and Canada.
primer on JJ in the 1970’s:
http://www.youtube.com/watch?v=sq1t1iFmsv0
Chif all us playas just want the GFE without the LTR, dont 8 us.
https://www.santangelsreview.com/2013/01/27/transcript-of-ray-dalios-comments-at-davos/
122: Risk Management/Compliance?
http://www.bloomberg.com/news/2013-01-29/automatic-defense-cuts-called-more-likely-than-unlikely-.html
Please cut the military. That will make it easier to shoot politicians when the time comes.