From the Star Ledger:
Home prices reflect largest year-to-year increase since 2006
A New Jersey home worth $300,000 in February 2012 is now worth about $311,000, according to a home price index released yesterday.
The 3.7 percent increase over last year, while significant, still lags behind the national average. According to CoreLogic — the real estate analytical firm that compiled the index — the average home price rose 10.2 percent nationwide. It marked the 12th straight monthly increase, and the largest year-over-year climb since housing prices peaked in 2006.
CoreLogic predicts home prices for March will also show increases.
The Northern New Jersey-New York metro area, which extends from Wayne to White Plains, N.Y., did better than the rest of the Garden State, according to Core Logic, climbing 9.7 percent.
In the Newark-Union region, one of the areas analyzed by CoreLogic, home prices increased 5.3 percent between February 2012 and this year. On a month-over-month basis, home prices increased 0.6 percent from January to February.
In the Philadelphia area, which includes parts of New Jersey, prices rose by 3.2 percent.
…
The news follows a report from East Brunswick-based Otteau Valuations Group showing home sales in New Jersey were up by 11 percent from February 2011 to February 2012, highlighting the strongest signs of growth since 2007.
Frst
Damnit.
Thoid.
Nom [3];
Old Home week?
Problem is, how many of these chump owners have a 475K nut?
“A New Jersey home worth $300,000 in February 2012 is now worth about $311,000, according to a home price index released yesterday.”
Don’t forget deferred maintenance and unpredictable property tax bills.
Good Morning New Jersey
And so it begins… again… From the WAPO:
Obama administration pushes banks to make home loans to people with weaker credit
he Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.
President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.
In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.
Officials are also encouraging lenders to use more subjective judgment in determining whether to offer a loan and are seeking to make it easier for people who owe more than their properties are worth to refinance at today’s low interest rates, among other steps.
And even Shiller backs it.. From MarketPlace:
Is the housing recovery leaving too many behind?
We’ve been seeing signs for months that the housing market is coming back, but President Obama thinks too many people are getting shut out because of lackluster credit.
Now the Obama administration wants banks to let their guard down and start lending to a wider range of borrowers, according to the Washington Post.
The president is basically promising not to punish banks that start lending again to people with weaker credit. If those homeowners later default, the Federal Housing Authority insures the loans. And the FHA wants banks to size up potential borrowers more subjectively, by looking at factors like savings.
“Somehow making it a procedure to use more intuitive judgment about the borrower is probably a good idea, if it’s done right,” says economist and Yale professor Robert Shiller. He compares banks that are holding out for borrowers with stellar credit to colleges that look only at applicants’ SAT scores.
“Right now lower income borrowers are just shut out of the market. That is a problem,” Shiller says.
We are doomed. I advise my younger cohorts to spend whatever cash they have now so they at least get something tangible for it. Enjoy the decline.
Has any central bank ever printed it’s way out of a depression? Apparently there’s plenty of money. Reminds me of the family that kept bouncing writing checks. They assumed as long as they had checks, they had money.
[9] OK, I’m scratching my head on this statement. Does that mean people with weak credit and high savings need help getting loans? Are there really even many people out there in that demographic? “What am I going to do? I have all this money but no one will give me a loan.” Or am I reading the statement completely backwards and the president wants the banks to give loans to people with weaker credit and *low* or no savings? That’s a much bigger demographic. “I’m sorry but your credit score just isn’t high enough for…what’s that? You don’t have any savings? Then maybe we can help you. We have special government backed loans that we can only give to people with weak credit and low savings, and it looks like you qualify!”
The president is basically promising not to punish banks that start lending again to people with weaker credit. If those homeowners later default, the Federal Housing Authority insures the loans. And the FHA wants banks to size up potential borrowers more subjectively, by looking at factors like savings.
“he Obama administration is engaged in a broad push to make more home loans available to people with weaker credit,”
Government’s sole purpose in life is to keep the ruling class comfortable and in power. Fostering and harnessing the incredible stupidity of people is one of the most powerful tools they have to achieve that goal. The sweet icing is when the stupid people blame each other for their problems–that enables the government to merrily continue on its mission shielding the poor, defenseless corporations from attack. You know, like when some people in real estate blog comment sections blame teachers and cops and people that took out liars loans for the economic crisis.
Circle of life:
“Freddie Mac recently began 25 initiatives around the country to dismantle barriers and create greater opportunities for homeownership. One of the programs is designed to help deserving families who have bad credit histories to qualify for homeownership loans.”
–George W Bush, October 15, 2002
[14] ottoman,
As one who was in the room, so to speak, when regulators discussed LMI lending with banks, I didn’t discern any meaningful change from the Clinton admin to the Bush admin. Clinton pushed this issue as well with Cuomo and Gore on point.
Nom – Don’t forget Janet Reno.
As one who was in the room, so to speak, when regulators discussed LMI lending with banks, I didn’t discern any meaningful change from the Clinton admin to the Bush admin. Clinton pushed this issue as well with Cuomo and Gore on point.
So you’re blaming Clinton for Bush’s policies, Comrade? lol.
taking advantage of taxpayer-backed programs
Getting real tired of paying for everyone elses mistakes. DL – you are right – we should all spend all our money. They are taking it all to pay for those who do not know not to buy what they can’t afford.
Bojangles tells the ganiffs to oil up the sausage machine and get it purring again.
This should end well.
Can’t fix stupid.
Problem here is it’s clearly too easy to rally support for lowering lending standards under the guise of “helping” the “poor”.
You can see it already, keep reading this line over and over:
“nation’s much-celebrated housing rebound is leaving too many people behind”
Keep reading it, over and over. Eventually your synapses will begin to embrace it, and then you’ll begin to believe it, and then you’ll lobby for others to support it.
Mine is now worth 20% then it was last summer, and I won’t take a penny less. Oh wait, the crowned molding I am having put in the living room and kitchen will make it worth 30% more.
The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.
LMAO!! I can’t even find the words!
Watch property brothers on HGTV-they fix people’s homes to make them look updated with minimum $ and then sell them for top $. It is all an illusion.
“Problem here is it’s clearly too easy to rally support for lowering lending standards under the guise of “helping” the “poor”.
George W Bush October 15, 2002:
“More and more people own their homes in America today. Two-thirds of all Americans own their homes, yet we have a problem here in America because few than half of the Hispanics and half the African Americans own the home. That’s a homeownership gap.”
24 – It’s actually not an illusion, it’s Canada, unless I’m missing something and Illusion is a town 4 miles south of Vancouver.
Those episodes are actually real (or as real as a TV show can be), and were actually shot over the past 2 years, so they are recent. They were shot at the peak of Canada’s real estate bubble, which appears to have long surpassed our own. Some have speculated that Canada’s bubble is the largest in the history of the … world. Price to rent ratios make North Jersey look almost free in comparison. Median home price in Vancouver is well in excess of $700k USD today. Imagine if North Jersey median home values were $700k, that’s the situation. Since US home prices crashed in 2006, Canada home prices continued to rise some 50-60%.
The existence of a bubble in Canada is widely denied by the banks and government. You guys all worried about Cyprus? For what, look north if you want a crisis to worry about.
Right now lower income borrowers are just shut out of the market. That is a problem,” Shiller says.
You don’t need to be ambitious and strive for success. You just need to be breathing and work at shoprite for minimum wage and want to be a homeowner.
Grim-you said the other day that only the lazy will be left out of the new upper class. What reason does anyone have to work hard if you aren’t required to have an income that affords you a home.
San Juan, Puerto Rico
Bonds
Trouble in Puerto Rican Bonds Could Haunt U.S. Investors
By Roben FarzadApril 04, 2013
http://www.businessweek.com/articles/2013-04-04/trouble-in-puerto-rican-bonds-could-haunt-u-dot-s-dot-investors#r=hpt-ls
Following a dozen consecutive annual budget deficits, Puerto Rico is treacherously close to not being able to pay its bills. A default that blindsides U.S. bond investors—many of whom are unwittingly in Puerto Rican issues via mutual funds that have chowed on its debt—could rock the normally serene $3.7 trillion muni market. Even another leg down in the territory’s credit ratings has the potential to spook forced selling by bond managers.
not rational to create an analogy/comparison between your family and the USA
DL says:
April 4, 2013 at 6:45 am
Has any central bank ever printed it’s way out of a depression? Apparently there’s plenty of money. Reminds me of the family that kept bouncing writing checks. They assumed as long as they had checks, they had money.
I didn’t mean the show was an illusion. I meant the value of the home was an illusion.
so i’m checking out neighbors of a house we recently bid on and are now stalled. anyhow, house 2 doors down was for sale last year, we went in it and passed. So, I’m checking the new owners out, see what people are doing, and found another one. They put 10K down on a $525K purchase.
What’s the address, I’d like to look at the mtg records. Not that I don’t believe you, but I find that to be very suspect, as the DP is lower than even the old FHA minimums. Not aware of any lenders going that low (2%), unless its a VA loan or something odd like that.
You just need to be breathing and work at shoprite for minimum wage and want to be a homeowner.
Yeah, not really though. I’ve argued for years that lending standards were not a strict as the politicos were making them out to be, but minimum wage? You are talking about an annual income of somewhere south of $20k, no lenders are going to lend on that unless you are talking about a $50k house in Irvington, and even that’s going to be a stretch without a dp.
Grim-I was trying to be sarcastic. Minimum wage at A&P paid for my car loan when I lived at home during college and didn’t pay for anything else except my clothes.
Jobless claims +28k to 385k, big miss
My problem with Property Brothers is the cost of the renos. It’s as if the cost of labor is non-existent sometimes. I’m sorry but having a couple paint and help with demo doesn’t cut the labor cost out completely.
A long time ago someone figured out that offering free t-shirts to 18 year old college students with part time jobs and lax parental guidance, got them hooked on a lifetime of credit cards they couldn’t manage. Government policy is nothing more than manipulation of human nature for the benefit of the rich. Doesn’t matter who’s running it. And as long as people blame the “other guy” (the other political party, the poor, the public workers, the 47%, the minorities, etc.), government and their benefactors are golden.
If you’re tired of paying for the mistakes of the stupid people, you’re wasting your life worrying over something that will never change.
I suspect the first meaningful declines in lending standards will come as mortgage rates being to ratchet upwards and refinancing grinds to a halt. This will leave the lenders with massive overcapacity and they will be forced to downsize their lending operations and jettison the associated real estate. I suspect many will shift the workforce over to the new loans business, and begin to focus on actions that ensure a ‘healthy pipeline’ of activity.
Summary: When the meat grinder begins to run empty, they’ll find some other ‘meat’ to feed into the business end of the machine so that the sausage continues to be produced.
#36
Not completely true. There can always be change. But people won’t call for change if they are comfortable. If they have a roof over their heads and food in their mouth they are quiet.
Lot of chatter that the claims are reflecting the “sequester” cuts, seems too early for that to be the case.
A long time ago someone figured out that offering free t-shirts to 18 year old college students with part time jobs and lax parental guidance, got them hooked on a lifetime of credit cards they couldn’t manage.
Even better was when Colleges figured out they could beat the credit card companies to the punchbowl, and for a lot more money.
“I’ve argued for years that lending standards were not a strict as the politicos were making them out to be, but minimum wage?”
–Credit Suisse estimated that 1/2 of all loans in 2006 were stated income. Then again, CS gave a stripper a loan on a million dollar house she never made a payment on.
http://www.zerohedge.com/article/how-charlotte-stripper-got-credit-suisse-admit-mortgage-fraud-and-someone-should-go-jail
I kept on reading the phrase, and all I can think of is the govt wants to bring the value of my 2 homes pass the bubble price and the poor renters will be left out.
They succeded with the stock market so far
Right now lower income borrowers are just shut out of the market. That is a problem,”
Property brothers also never seem to have to get permits or have neighbors complaining and they can have workers work 24 hours a day making noise.
They also say stuff like after renovation you made 95K and leave off fact renovation cost 65K so it is only 30K and the fact that is only if you sell today.
A 1955, 1965, 1975, 1985 bathroom is all worth the same to a new buyer. Unless the renovation is within ten years most folks dont pay extra.
My kitchen is from 2004, it still looks really good. But look close and you see some chips in counter, scratches on cabinets, do for a paint job next year. Seven years from now in year 2020 the renovation money is worthless pretty much. My 1969 kitchen I replaced with a 2004 kitchen to a buyer in 2020 only means if I had old kitchen he have to rip it out day he bought it as opposed to ripping it out in 2-3 years.
Doyle says:
April 4, 2013 at 8:34 am
My problem with Property Brothers is the cost of the renos. It’s as if the cost of labor is non-existent sometimes. I’m sorry but having a couple paint and help with demo doesn’t cut the labor cost out completely.
grim, u have mail
Sarcasm is “a sharp, bitter, or cutting expression or remark; a bitter gibe or taunt”,[1] usually conveyed through irony or understatement.the intended meaning is different from the sentence meaning
PUERTO RICO SALES TAX FING CORP SALES
05.37500% 08/01/2039TAX REV SALES TAX REV BDS COFINA
Bond of the day at 101.9, around a 5.1% tax free yield.
Go PR Sales Tax baby!!!!
Little sell off due to bad press today in WSJ on PR bonds.
please ask grim to copy me on the response……
BearsFan says:
April 4, 2013 at 8:57 am
grim, u have mail
Don’t worry about this one….it only sounds as if it matters……
“A prime reason for the Agg’s changing fortunes is that U.S. Treasurys and government-backed mortgage debt have gained a larger share of the index, following several years of record U.S. debt issuance.”
CREDIT MARKETS
Investors Are Pulling Funds Tied to ‘the Agg’ as Safe Bonds Look Anything But
By CAROLYN CUI And PATRICK MCGEE
The guiding star for many bond investors is starting to flicker.
The Barclays U.S. Aggregate Bond Index, known as “the Agg”—which tracks the broader debt market the way the Standard & Poors-500 follows stocks—declined 0.12% in the first quarter, its first negative return in that period since 2006.
And with many large investors yanking funds tied to the Agg, the index’s flagging popularity is having repercussions for how hundreds of billions of dollars are allocated in fixed-income portfolios.
The move is perhaps the most stark indication yet that the safest bonds are scaring investors.
A prime reason for the Agg’s changing fortunes is that U.S. Treasurys and government-backed mortgage debt have gained a larger share of the index, following several years of record U.S. debt issuance.
Treasurys, long the gold standard of the debt markets, have in recent years lost their allure as income-starved investors favor riskier, higher-yielding securities such as “junk” bonds and loans.
Since 1976, the Agg has posted an annualized return of 7.68%.
Though smaller than the S&P 500’s 11.24% gain over the same period, the index only had two negative calendar years during the 37-year history—in 1994 and 1999—a far more steady performance than its stock counterpart.
This year’s drop in the Agg shows investors are becoming braver gamblers, betting that gains in the labor and housing markets will finally prompt rising rates in the largest bond markets and that the Fed will reduce its debt purchases.
If that scenario comes to pass, it would be punishing for all debt investors, but particularly for those who bought more recently issued, low-yielding, high-rated bonds. Treasury bond yields are near record lows. Higher rates mean lower bond prices.
Any newly sold bonds at higher rates would be higher yielding and thus more attractive to investors.
“Simply going out and buying a U.S. Treasury is becoming a much more dangerous activity than it used to be,” said Russ Koesterich, chief investment strategist at BlackRock Inc., BLK -3.71%the world’s largest money manager. “You either take more risk, or you accept dramatically less return.”
Roughly $4 trillion is invested into strategies pegged to the Agg, which tracks high-quality U.S. bonds such as Treasurys, highly rated company debt and mortgage-backed securities.
But large investors over the past five years have pulled $171 billion away from securities that track the index, according to eVestment, a data provider on institutional investment.
The Agg’s recent decline is still small relative to the double-digit percentage plunges that investors have experienced in bad years for the stock market. Still, riskier investments have paid off this year.
Funds devoted to buying only the riskiest noninvestment-grade, or junk, bonds are up nearly 3% and the Dow Jones Industrial Average has advanced nearly 12%
If interest rates climb, bond investments linked to the Agg could be hurt, given that Treasurys now account for 37% of the index, up from 21% a decade ago.
“It makes our clients less and less interested in being benchmarked to the Agg,” says James Sarni, a managing principal at Payden & Rygel, which manages $84 billion in assets, mostly in fixed income.
The Los Angeles-based firm now has 17% of its assets tied to the index, down from about 20% in 2009, as new money is coming into the firm for other types of strategies.
Strategists at Goldman Sachs Group Inc. GS -2.28%anticipate the 10-year Treasury rate will rise from 1.85% to 2.5% by year-end, a result of U.S. economic expansion pushing investors into securities that more closely track growth rather than safer bonds, which promise a basic return.
Using Goldman’s scenario, the Agg could clock a negative 1% return by the end of 2013. If benchmark interest rates were to rise a single percentage point, the Agg would lose 5.22% in price. When bond prices fall, yields rise.
The impact could cause a big thud. Of the $663 billion of institutional assets invested in 270 U.S. core fixed-income portfolios, 75% are benchmarked against the Agg, eVestment data show. The index comprises of a total of 8,286 bonds and is worth nearly $17 trillion—more than the S&P 500, which is worth about $14 trillion.
At Delaware Investments, more clients are asking the firm to switch to a broader index, said Roger Early, chief investment officer who oversees about $130 billion in fixed-income assets. While the company still has about $25 billion tied to the Agg, the index “has become unrepresentative of what people want to invest in,” he said.
The index provider is taking note. Barclays has been developing customized indexes for clients and also rolled out new indexes to reflect changing investor demand.
Waqas Samad, head of index, portfolio and risk solutions at Barclays, acknowledged that sophisticated investors are starting to rethink their investing strategies, but said “that kind of a shift will take time.”
Write to Carolyn Cui at carolyn.cui@wsj.com and Patrick McGee at patrick.mcgee@dowjones.com
A version of this article appeared April 3, 2013, on page C1 in the U.S. edition of The Wall Street Journal, with the headline: Key Bond Index Gets Bitten.
Man speaks the truth, 10k down on $500k+
If anyone needs a referral for a carpenter…..
Brooklyn carpenter confesses to dicing up his roommate with kitchen tools – but not murder
By JOSH SAUL
A Brooklyn carpenter on trial for murdering and butchering his roommate testified yesterday that he didn’t actually kill the man — but he did carve him up and drain his corpse of blood using every tool and utensil in his kitchen.
Sergey Mamonov, 51, said he made a conscious decision not to use his power tools to slice and dice Aleksandr Zilbergleyt’s body and instead used knives, wire cutters, a food strainer and even a meat grinder — because he didn’t want to make his neighbors suspicious.
“I had the body, and I had to dispose of it,” he told a rapt Brooklyn Supreme Court jury. “I didn’t want to bother neighbors.”
Went into meat grinder.Mamonov claims Zilbergleyt, 55, died accidentally while trying to attack him during a fight in their Sheepshead Bay apartment. He claims the man lost his balance and fell down, hitting his head on a kitchen counter.
“He was turning the apartment into a pigsty. I didn’t like him,” Mamonov testified.
He chopped up the body, he said, because he feared the police — and thought they took Zilbergleyt’s side every time they responded to the frequent disputes at the house.
“All my experience with policemen, they never helped me. So I had only one choice. I had to get rid of the body myself,” said Mamonov, who has no previous arrests. He said he was so meticulous in covering his tracks, he considered every detail.
“I read detective stories, and I knew identity could be found in the fingertips, so I took them to Sheepshead Bay and threw them in.”
Prosecutors say Mamonov chopped up the body to destroy evidence of murder.
The carpenter — who was born in what is now Uzbekistan — admitted to moving Zilbergleyt’s body into the bathtub and using a meat grinder to mash the dead man’s brain.
He also used a strainer to rinse blood off the flesh.
“You chose to cut his skin and muscles into pieces that would fit into a bleach bottle?” said assistant district attorney Melissa Carvajal.
“Yes,” Mamonov said.
“I didn’t think of Aleks. I had to think of myself. Everything should disappear. I knew everything should disappear.”
A medical examiner testified about receiving Zilbergleyt’s remains in 12 bleach bottles, three bags, and a 5-gallon bucket.
A jury will begin deliberations today.
Straight FHA too
#23,
Fast,
Reminds me of the Eddie Murphy SNL skit where he disguises himself as a white guy. “You have no money, Mr. White? No problem. Take all the money you need. Pay us back whenever you want..or don’t pay us back at all. We don’t care.”
Average reader did not even know what Agg was.
Craziest this morning Taxables Junk bonds yielding 5% while tax Free PR Cofina yielding 5%, risk on or risk off wtf
chicagofinance says:
April 4, 2013 at 9:13 am
Don’t worry about this one….it only sounds as if it matters……
The fact that they are tossing Larry Summers name around as next Fed chief should be enough to tell you that the 2011 WEF Davos promise of 100 Trillion in new world wide credit will come true.
http://www.telegraph.co.uk/finance/financetopics/davos/8267768/World-needs-100-trillion-more-credit-says-World-Economic-Forum.html
When do stated income loans come back? I need to pull a Casey Serin and buy 8 houses in less than a year.
The Lords Prayer
Please Please I promise not to piss it away again
Juice [55],
Touche! Lol!
This month the central bank said it would maintain its monthly $85 billion purchases of mortgage and Treasury bonds to keep rates low and foster faster job growth.
Note to self: Review Gibbon’s works on the decline and fall of the Roman Empire.
grim (21)-
This also worked smashingly well for the Third Reich.
“Eventually your synapses will begin to embrace it, and then you’ll begin to believe it, and then you’ll lobby for others to support it.”
grim (26)-
But…but…they have tar sands and soci@lized medicine…
“The existence of a bubble in Canada is widely denied by the banks and government. You guys all worried about Cyprus? For what, look north if you want a crisis to worry about.”
I have nieces and nephews in Canada who have fully embraced the Canadian (Amerikan?) Dream of massively leveraging into a bubblicious asset class. They also have the intelligence of doorknobs and think the punch bowl will be endlessly refilled. It should end well for them.
I was hoping to tread lightly and not need to include a Goebbels reference, but you went there, so…
Did Casey Serin ever go to jail?
Please stay on topic folks. It is Un-American not to borrow and spend more than you can afford. I did my part and borrowed 1/2 million this year. I really should have borrowed the full million the bank wanted me to borrow, but I really could not find a big enough house to spend it on that I liked. So I will go out later after this house closes and buy another one and then anouther one and then another one. before you know it I will be rich, rich, rich… You should all do the same ASAP.
Jail is for losers, a winner like Casey never goes to jail.
He currently is living in Alaska and making a living hunting for Grizzly Bears with a rusty butter knife.
Just remember; It is all on paper until you hold cash in your hand.
I promise I will not piss it away again!!
there is an underlying psycogical aspect to this mess w debt in the US.
BBC released a report breaking down % of ppl per social class in the UK. 6% elite, 30% middle class (split into 2 categories) and the rest working class. Working class, i.e. poor, split into 4 sub sections: precarious (homeless), emerging (recent poor immigrants, fast food workers) traditional (manual labor, factory workers), affluent (teachers, cops, office workers).
Middle class, in their assessment, begins at the technical level: doctors, lawyers, bankers. Upper middle class have no need to work for a living.
as the concept of class has dissapeared in this country, EVERYBODY has self-classified as middle class. but not just any middle class, a middle class just so very close to make it rich(if it weren’t for those high taxes!). (same logic that makes all kids above average).
some have to accept that cannot afford a house. none will accept to be anything less than “middle class”
Natasha: #36 “Not completely true. There can always be change. But people won’t call for change if they are comfortable. If they have a roof over their heads and food in their mouth they are quiet.”
Good thing easy credit gave so many people the illusion of “status” these past 50 years. Makes those who’ve lost their stuff (jobs, homes, cars, etc.) even more ashamed and reluctant to call for change. When corporations strategic default on property, its a wise business decision, when the middle class does it, they’re deadbeats and takers.
Ottoman [67];
When a corporation strategic defaults on a property, they move out their shit and hand over the keys. With a deadbeat, they stick their thumb in anyone’s eye who happens to be handy; flop around in hysterionics as if it will make a difference “(PRODUCE THE NOTE, M’FER!!!”), and when the Sheriff comes knocking on the front door they’re ripping the copper pipe and wiring out through the sheet rock and selling it out the back for pennies.
[17] ottoman,
No, I blame Bush for not having the foresight to see that the continuation and rebranding of the policies of prior administrations would have undesirable consequences. If he had been more of a heartless, free market republican, he would have reined in HUD and the bank regulators who were enforcing the CRA, HOEPA, and ECOA by strong-arming my clients into making more LMI loans.
#68
Honor among deadbeats?
http://info.trulia.com/trulia-price-and-rent-monitors-mar-2013
Trulia says rents up 0.2% YOY in the NY Metro, Asking prices up 4.1%
[4] moose,
Yeah, I’m in Arlington, here for my sister’s dissertation defense. right now, I’m in a Starbucks with my feet up on an ottoman. Something strangely satisfying and allegorical about it.
Juice Box, 63
This borrowing and spending propaganda has been going on forever. GWB was especially bad at it, but it’s really at the core of textbook Keynesian economics, which almost all politicians apply. Here’s a vitriolic essay I wrote about this way back in 2001. The essence still holds up, and I still like it.
http://capitalismmagazine.com/2001/10/some-patriotic-economic-advice-save/
Some Patriotic Economic Advice: Save
(Ragnar) (2001)
Over the last couple of weeks I’ve seen financiers and economists give a lot of misguided advice about what people need to do to help the nation and themselves overcome the terrorist attacks on America.
I’m a very patriotic person myself, I don’t just wave flags on Independence Day, I actually read and understand the U.S. Declaration of Independence, along with other wit and wisdom from America’s founders. One bit of wisdom from the founders that has come into disfavor is Benjamin Franklin’s old maxim, “A penny saved is a penny earned.” But it’s pertinent advice today.
Modern economists quake at the very thought that people might take Franklin’s advice. The New York Times’ economics “guru” Paul Krugman devotes approximately one third of his columns to attacking the sinister notion of saving. Keynes devoted most of his life to asserting that savings is the enemy of prosperity, and unfettered spending is the path to economic salvation. Predictably, economists are saying that the foremost war effort on the economic front is to convince consumers to spend more, and by necessity, to save less.
As early as last year, when the U.S. economy began its inexorable crawl towards recession, economists and market strategists crowed that despite the fact that technology and business spending was turning negative, continuing high consumer spending would shield the economy from damage. Finally the “consumer” is starting to wise up, and either just got laid off, or sees that his company is slowing down, cutting back, or is going bust, and may need to retrench. A consumer must first be a producer, and a “consumer” can’t forever spend more than he earns. So naturally, the “consumer” is starting to wonder about whether it’s a good idea to carry $20,000 credit card balances, and might start paying down debt or put some savings aside for a rainy day.
“Don’t Stop Spending!” say our government and economic policy advisors. People on TV tell me that it’s my patriotic duty to keep on spending, regardless of my economic concerns. I’m told that I should go to more Broadway shows – for example, “Urinetown: The Musical,” a socialist critique of “capitalist greed” and barriers to free urination, is New York Times’ “NYToday Pick.” People stuck at home are advised to patriotically sign up for expanded cable rather than basic cable, including “Spice” and the “Playboy Channel,” presumably boosting GDP by a further $600 per household per year. Robert Rubin wrote in the NY Times that the government’s “stimulative” tax rebates should be provided only to people “who have the highest propensity to spend.” Cheering news for crack addicts and other spendthrifts from the former Treasury Secretary, but what is a more cautious person to do?
The wise marketing people on Wall Street who have so steadily guided our country’s financial markets over the past couple of years have not missed a step, and are generally urging us that it’s our patriotic duty to buy more U.S. stocks. And not just Pets.Com this time! Buying more stocks would also help patriotically slow down the big slide in commissions and investment banking fees Wall Street has seen over the past year. How otherwise can Henry Blodgett afford a GDP-enhancing summer house in the Hamptons? Even though the U.S. recession hasn’t officially begun yet, and we have no idea how deep or long it will be, Peter Lynch is already telling us that there will be a “recovery” when it’s over, and to invest for the long term. Hold the pap, Petey, try this line with people in Japan, where those who bought the stock market in 1984 are still underwater on their investments, and where they’re still waiting for a 1991 economic downturn to end. A well-known commentator on Smartmoney last week implied that investors who bought stocks on margin deserved a special tribute of thanks from the country. Unless you were hoping to buy the stocks cheaper, or hoping your financial institutions would carefully manage their risks.
Now analysts who are tempted to downgrade stocks to a “sell” are even more unlikely to do so, since such an action is likely to be called “un-American.” Fox News’ Bill O’Reilly invited a professional short-seller on his show to lecture him on the “damage” he was doing to America and its economy. These stock market cheerleaders seem to think that high valuations are somehow “better” for the economy than low valuations. They suggest that if people will just accept a dollar and a half of dividends from a hundred-dollar investment (current S&P500 yield) then that is superior to investors demanding, say, three dollars. I say the best valuations are ones that accurately reflect the short and long term business and economic conditions of the country. When prospects are poor and uncertain, it would be crazy to expect high stock valuations.
Here’s my patriotic message. Listen to old Ben Franklin’s advice about saving money. Evaluate your household balance sheet. Prepare yourself for financial risks. Reduce debt if possible, and build cash reserves if you don’t have any. Be very aware that the U.S. unemployment rate is rising, a trend likely to continue for a while. Don’t go see “Urinetown: The Musical.” Don’t call Miss Cleo for “tarot readings.” Non-emergency savings should, as always, be invested in assets that match your long-term risk tolerance. Diversification can help reduce investment risk, and I don’t mean holding three tech stocks instead of one. Consider diversifying investments globally; foreign currency bonds could provide useful diversification if the dollar’s value declines, and many foreign equity markets have fallen further than the U.S. and trade at valuation multiples significantly lower than U.S. stocks. And when buying individual stocks, learn how to evaluate balance sheets – Americans have gotten out of the habit of fearing debt, but it’s during economic slowdowns that your and your companies’ balance sheet matters most.
Do try to “get back to normal” but it would be unwise to ignore or evade the likelihood of a U.S. recession and possibly a global recession. People who save and maintain their savings can provide for themselves and others when times get tough. The best thing you can do right now is to stay productive, maintain your capital, and keep adding to your knowledge and skills. Then you’ll be in position to boost the productivity and profitability of the businesses that drive the U.S.’ and the global economy.
Ottoman your “circle” has gaps, again.
President Clinton in 1994 created: The National Homeownership Strategy, Partners in the American Dream.
“This past year, I directed HUD Secretary Henry G. Cisneros to work with leaders in the housing industry, with nonprofit organizations, and with leaders at every level of government to develop a plan to boost homeownership in America to an all-time high by the end of this century. The National Homeownership Strategy: Partners in the American Dream outlines a substantive, detailed plan to reach this goal.”
…
Action 35: Home Mortgage Loan-to-Value Flexibility
Action 36: Subsidies to Reduce Downpayment and Mortgage Costs
Action 37: IRAs and 401(k)s for Homeownership Downpayments
Action 44: Flexible Mortgage Underwriting Criteria
http://confoundedinterest.files.wordpress.com/2013/01/nhsdream2.pdf
72 – I find that spitballs can sometimes add the requisite amount of humor to diffuse the stress associated with such situations.
I still remember the Assistant Treasurer of AT&T (an out of central casting corporate sociopath – PhD University of Chicago) said in a capital markets meeting relating to a death march assignment in Bedminster NJ in 2002 to my direct boss (a conserative Jew who wore a kippah) “Work Will Set You Free”…….I almost burst a blood vessel in my brain….I swear I almost dove across the desk and murdered him…….
grim says:
April 4, 2013 at 10:25 am
I was hoping to tread lightly and not need to include a Goebbels reference, but you went there, so…
“No, I blame Bush for not having the foresight to see that the continuation and rebranding of the policies of prior administrations would have undesirable consequences. If he had been more of a heartless, free market republican, he would have reined in HUD and the bank regulators who were enforcing the CRA, HOEPA, and ECOA by strong-arming my clients into making more LMI loans.”
Yes, it was the poor black welfare queens that brought down the financial markets. Had nothing to do with Gramm-Leach-Bliley at all. Poor banks, how do they stay in business?
Statler Waldorf says:
April 4, 2013 at 11:28 am
Ottoman your “circle” has gaps, again.
So you’re saying that George W Bush is a complete and utter moron for doing the exact same thing 10 years later, Statler? Duly noted.
“With a deadbeat, they stick their thumb in anyone’s eye who happens to be handy; flop around in hysterionics as if it will make a difference “(PRODUCE THE NOTE, M’FER!!!”), and when the Sheriff comes knocking on the front door they’re ripping the copper pipe and wiring out through the sheet rock and selling it out the back for pennies.”
–Sounds like what happens when you suggest the rich should pay more taxes.
Are they actually attempting to consolodate services in Bergen County? Is that what these guys are squabbling about?
SWAT team overhaul causing police turf war in Bergen County
http://www.nj.com/bergen/index.ssf/2013/04/new_regional_swat_team_plan_causing_turf_war_in_bergen_county.html#incart_river_default
Juice Box in order to afford that many homes your nose will be running cause you will be full from all those field six guys you took care of.
Stay in your starter home!!
Juice Box says:
April 4, 2013 at 10:36 am
Please stay on topic folks. It is Un-American not to borrow and spend more than you can afford. I did my part and borrowed 1/2 million this year. I really should have borrowed the full million the bank wanted me to borrow, but I really could not find a big enough house to spend it on that I liked. So I will go out later after this house closes and buy another one and then anouther one and then another one. before you know it I will be rich, rich, rich… You should all do the same ASAP.
Jeez I pop on for lunch and see The HMIC (head moron in charge) wants to reinflate the housing bubble and a Casey Serin reference. I going back to work.
Ottoman has a Dope/Seif feeling about him.
Time for presentation. If all goes well, I’ll have to start calling little sis “doctor”.
I was prepping breakfast in northern Edgewater earlier today, when all of a sudden there was a loud bang and a bright light filled my kitchen. It looked as if jeebus himself hath descended into it on a cloud of welding machines, and simulatenously shut off power to the northern part of town. Within minutes the popo arrived, several surveyed the blown transformer, got back into their cars and drove off. One cruiser was left on-site.
So the traffic light outside is now of course inoperative, and cars are sturggling to make a turn into river road..traffic is a mess. The guy didn’t even bother to get out and direct traffic the entire time he was station there (you can bet the clock was running though). Not a single damn was given, and it wasn’t even that cold this morning.
Anyone looking for a new listing?
….soon to be on the market….
http://tax1.co.monmouth.nj.us/cgi-bin/m4.cgi?district=1325&l02=132500046____00063_________M
Otto [79];
Sounds like what happens when you suggest the rich should pay more taxes.
The top 10% of income earners (AGI> $116k — a mere piker by NNJ standards, not to mention JJ) represent 45% of total income (~$3.6T), and paid 70% of income taxes ($670B, avg. effective rate of 18.5%).
Just how much more to you want them to pay? How does a leftist define ‘fair share’, besides “more”?
By contrast, the bottom 50% (<$34k; for reference the median household income is about $49k) accounts for just under $1T in (reported) income, on which they paid $22B in taxes, an effective rate of 2.4% — coincidentally also ~2.4% of all income taxes paid).
That only accounts for reported income, too. We probably wouldn't even know this much about low-earners if it weren't for the EITC incentive (read, bribe) for them to file a return. At the 50% level, it wouldn't take much untaxed under-the-table income ($1,200/mo) to bring one up to the median household income. Note none of the foregoing income accounts for the value of transfer payments and other government handout programs.
See, 2010 data (linky).
#6 (previous thread) Chi
Is a “specious argument ” the same as an “Activist Judge”, i.e. one whose views you don’t agree with?
There is also no chance for a straight debate on the issue as parties such as the Kochs have pushed out so much disinformation.
That WSJ article is a case in point. I love the subliminal message of Buffet is bad and his trains catch fire. This line “Rail is not the safest way to transport oil” should really read “Rail is not the cheapest way to transport oil” as that is the core of the issue. Yes rail spills are bad, regardless if its oil, benzene toluene, chlorine, silica etc etc etc, The author doesn’t touch on the main reason for the spike in Rail oil and that is that they have to ship so much crude to Alberta to dilute the Bitumen to even get it into the pipeline. In future that will be replaced with a separate pipeline to flow Middle east oil from the west coast of Canada to the tar sands, so much for energy independence. The author also fails to mention that most of the Keystone pipeline has subsequently been approved and its is only the stretch beside the Nebraska aquifers that is still under dispute. But that doesn’t really fit in with the authors narrative.
Honestly, we are never going to agree on this issue. I understand that you want cheap energy, but for me that energy is coming at too high an economical and environmental cost.
ChiFi [85];
That’s a millstone of a tax assesment they got hit with this year. At the same millage rate, they’re looking at a 28% increase from $17k to about $24k. No wonder they’re selling after only 2.5 years there. They see any/much Sandy flooding?
Moose [86],
Just how much more to you want them to pay?
Whatever it takes to get my Bomma phone and Bomma pony. I guess that’ll happen when I decide to lay on the couch all day, get h1gh, eat some cheese doodles and watch some cartoons.
Fab [87];
Bag it already. Anyone who whines about the Kochs taking over the country while sucking on Soros’ tit has no credibility.
83- lol Comrade, Grim’s not falling for your BS either:
grim says:
April 4, 2013 at 7:59 am
Problem here is it’s clearly too easy to rally support for lowering lending standards under the guise of “helping” the “poor”.
You can see it already, keep reading this line over and over:
“nation’s much-celebrated housing rebound is leaving too many people behind”
No, you’re not following along at all.
“The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.”
Ottoman says:
April 4, 2013 at 12:03 pm
Statler Waldorf says:
April 4, 2013 at 11:28 am
Ottoman your “circle” has gaps, again.
So you’re saying that George W Bush is a complete and utter moron for doing the exact same thing 10 years later, Statler? Duly noted.
I did my taxes a few weeks ago and I sold all my losing positions in order to generate no cap gains in 2012 then took the Sandy Casualty Loss. I am getting back 30K on tax return. Which is actually just my estimated tax payments which if it was not for AMT I would not have paid in first place.
God Bless Free Market Capitalism.
86 – Anon
Of course so many people in the middle and at the bottom got knocked out of the job market and have no income to pay taxes on, skewing the percentage of taxes the rich pay higher.
I’m sure you’re intelligent enough that you make all your money through investing so you can be rewarded with the lower capital gains rate, instead of earning a filthy paycheck.
Low rates play an “important role” in supporting economic recovery, but the current monetary policy stance is “overly accommodative” and the Fed must be patient about achieving long-term goals, Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther L. George said Thursday.
Statler Waldorf says:
April 4, 2013 at 1:10 pm
No, you’re not following along at all.
So then you’re saying George W Bush was smart for doing the exact same thing that Clinton did 10 years earlier? Then you should be happy Obama is following along nicely too.
Ottoman,
Let the plebs eat cake. I used to rail against governenment intervention but not any longer. As long as there’s a backstop, TBTF corps can do whatever they want without risk. And as long there is no risk, that means I reap dividends on my investments. Let it ride, baby! Bomma phones for everyone!
Anon, Oh and thanks for the “insult” by calling me a leftist. Not sure how you came to that conclusion since I called most people in the country (the world actually) stupid.
I could return the favor and ask if you’ve seen that study showing people with right wing leanings often have larger than normal amygdalas, or fear centers, in their brains? That may explain the paranoia and the tendency to blindly cling to authority figures. You know, like when they say its fine for their corporate overlords to stiff creditors as long as they do it with balls. Or when people think welfare queens have more power to affect the economy than Goldman Sachs.
Obamaphone, home mortgage deduction, its all the same.
Alex Jones interviews Obamaphonelady.
http://www.infowars.com/alex-jones-wakes-up-obama-phone-lady/
[73] Well said, Ragnar.
NYPD officers pepper-sprayed three little children, including 2-year- and 5-month old babies, because they thought the kids’ mom jumped a subway fare, the family claims in court.
Marilyn Taylor sued New York City, the NYPD and Officers Maripily Clase, Suranjit Dey and Jermaine Hodge in Federal Court, for herself, her three children and their father.
Taylor claims that she and her kids were preparing to board a Manhattan-bound L train on Aug. 9. She was pushing her 2-year-old in a stroller and holding her 4-year-old’s hand. The father, Dehaven McClain, carried the 5-month-old close to his chest.
The officers stopped her on suspicion of skipping a fare because they saw her pushing the stroller through a service entrance rather than the turnstile, Taylor says in the complaint.
http://www.courthousenews.com/2013/04/01/56239.htm
Seems like a perfectly reasonable use of force. These fare-dodgers start earlier and earlier.
“Not completely true. There can always be change. But people won’t call for change if they are comfortable. If they have a roof over their heads and food in their mouth they are quiet.”
Them be the crumbs.
Otto [98];
I consider anyone who believes that our present tax system is insufficiently ‘progressive’ (i.e., Eat the Rich!), just like our sitting Alinskyite-In-Chief does, to be a leftist. That’s different from ‘populist’. Plenty of GOPers heed the siren song of populism (Huckabee springs to mind, but he is by no means alone), but that doesn’t make them leftists. Either way, you feel free to stand and be counted wherever you like.
To hear these people talk, you’d think it was a bloody miracle this country survived until the 16th Amendment was passed. At the founding, “one man, one vote” stood alongside “one man, one tax dollar” (apportionment of representation; apportionment of taxes – Art. I, Sec. 2).
chi (76)-
With “talent” like that guy, no wonder AT&T puked it up.
Con’t [104];
Just like Willie Sutton — that’s where the money is.
Ottoman appears not to be one of the sheeple, until he mentions blaming the cops and the teachers. I think we all respect these professions greatly actually. We just have an issue with the fact that that their supposed good-faith bargaining public unions sold their votes and endorsements in exchange for benefits and pensions that CAN’T be paid. Eh, let them be debtors too.
Anyone see the giant ‘Debt Nation’ tag on one of the new walls of the Tonelle circle where the Hoboken NJT trains exit the tunnel prior to crossing under Routes 1/9 in Jersey city? What a masterpiece.
I think the country would be a lot better off if you could use food stamps to buy beer and liquor.
“I think the country would be a lot better off if you could use food stamps to buy beer and liquor.”
They figured that out already. Don’t they just barter the food for booze and smokes?
Solvent green every male welfare person and every female welfare person over 35 and just keep the hot female ones under 35 and assign them to be the personal assistant of every male top 1% of taxpayers. I would love a cute little hottie spanish girl around the house to help out and fill in for wife now and then.
Libtard in the City says:
April 4, 2013 at 2:41 pm
“I think the country would be a lot better off if you could use food stamps to buy beer and liquor.”
They figured that out already. Don’t they just barter the food for booze and smokes?
re # 101 – I wonder where the video is?
(110)
If you add horrifically bad spellers to that list of people to turn into “soylent green,” I’m all for it.
The only cure to our social ills rests in giving assault weapons to everyone.
I’m certain that if yome and moose both owned assault weapons, they’d figure out a way to simultaneously kill each other.
Problem solved, I say.
Juice [111];
Right next to Rose Mary Woods’ 18-1/2 minutes.
You don’t get a vote. This is my fantasy.
joyce says:
April 4, 2013 at 3:02 pm
(110)
If you add horrifically bad spellers to that list of people to turn into “soylent green,” I’m all for it.
Surely they were very cooperative with the police, and the officers then decided to pepper spray everyone just for fun. There are two sides to every story.
“NYPD officers pepper-sprayed three little children, including 2-year- and 5-month old babies, because they thought the kids’ mom jumped a subway fare”
Con’t [115];
The Rose Mary Stretch.
Redux [118];
The Rose Mary Stretch.
Two sides to this sting operation… or can we assume these sickos are guilty right off the bat?
116.Statler Waldorf says:
March 21, 2013 at 3:01 pm
These two sickos were thankfully arrested.
http://abclocal.go.com/wabc/story?section=news/investigators&id=9034923
JERSEY CITY (WABC) — A young Brooklyn couple is being held without bail Thursday, accused of plotting to open up a day care business to drug and sexually abuse children.
Bebars Baslan, 35, and his 25-year-old girlfriend Kristin Henry were busted by the FBI at a hotel Tuesday night in Jersey City, where the couple apparently thought they were putting part of their plan into action. Instead, it was a sting operation.
[91] ottoman
Whatever you say.
In other news, the defense went well over the allotted time. Individuals in the audience were permitted to ask questions. Apparently I asked the hardest ones and my sister was pissed at me. I thought they were softballs, and they were certainly easier than the questions I fired at her during prep the night before.
Anyway, the session ends, we are bade to exit, and the readers/committee goes into exec session. After a short while, the committee chair comes out, goes over to my sister and says “Congratuations Doctor [deplume].” Much squealing ensued as the room was all women except for me.
Now little sis has as many degrees as me. Not sure how I feel about that (just kidding, very proud of her :))
120. Job creators?
Greetings from The Boca Resort…..”what recession??”
Rogert Ebert < Abe Vigoda
Did you notice the husband? He recently lost his job (i.e. yesterday) in a very high profile way.
Anon E. Moose says:
April 4, 2013 at 1:07 pm
ChiFi [85]; That’s a millstone of a tax assesment they got hit with this year. At the same millage rate, they’re looking at a 28% increase from $17k to about $24k. No wonder they’re selling after only 2.5 years there. They see any/much Sandy flooding?
The sting operation article has a witness quoted and also audio recordings of the perps themselves. The subway pepper spray article has only quotations and information provided by lawyers seeking a payday.
“Two sides to this sting operation… or can we assume these sickos are guilty right off the bat?”
ChiFi [125];
Oops. Missed it.
My cousin just told me a true story of a couple he knows. Wife is Catholic school principal and husband is Bayonne fireman. They both get decent money. They stopped paying mortgage on Bayonne house for two years. Mortgage company makes a deal with them and takes care of back property taxes (or something like that) and reduces monthly payment by almost half. The couple pretends to accept the deal and then went another two years not paying mortgage. The lender finally starts foreclosure process and takes the house. The couple turn around and paid cash for a condo. They banked to money for all those years and paid for a different residence for cash. What I am doing wrong? Again-why are we all paying our bills and being good little citizens?
#128 correction
banked the money
Natasha because we are properly educated morons. good for them f*ck the banks
#90 moose
How exactly am I “sucking on Soros’ tit”?
I did not make the claim that the Kochs were taking over the country I said that they had clouded any serious discussion on it with massive amounts of disinformation. If you don’t think that is true I can start posting on climate change and the environment and we can watch the trolls show up like Sentinals in The Matrix.
Whatever you say.
(and for the record, I am assuming (rightly or wrongly) both are guilty the perverts and the police, respectively)
126.Statler Waldorf says:
April 4, 2013 at 4:14 pm
The sting operation article has a witness quoted and also audio recordings of the perps themselves. The subway pepper spray article has only quotations and information provided by lawyers seeking a payday.
“Two sides to this sting operation… or can we assume these sickos are guilty right off the bat?”
Radon came back today .2 pCi/l I guess the basement is safer than outside.
134 – Seller closed up the can when the inspector left… :)
Grim I survived lead paint, gun fire, the Bronx burning and roaches the sizes of a Volkswagen growing up a little bit of radioactive gas is not going to scare me off.
Natasha [128];
Is the condo worth more than the BK homestead exemption?
The bank is going to try to collect on the deficiency (I’m assuming they were underwater, otherwise they wouldn’t have let it go, even if they did bank 4 years of payments). So the bank eventually sells the debt to a collector (I don’t know, lets say $0.10 on the dollar — but they can collect everything + fees and expenses, and the interest clock is still ticking). Collector sues for the whole 9 yards. Couple can shuck — can jive, but in the end, the paid-for condo is a huge honey pot (if its in their name(s)). Collector gets a judgment, garnishees wages, and attaches the condo, trying to force its sale.
Then couple declares BK on the judgement. Here’s where the Homestead exemption comes in. They can only shelter so much home equity in BK. The BK court will force the sale of the condo, or they can HELOC down to get their equity below the BK exemption, with the excess funds going to satisfy the judgement. The HELOC option may be tricky with their credit history and an open BK, depending upon the relative equity involved.
High stakes, esp. given their income (fireman + principal? $250k easy, not including his cash landscaping business).
You can put a condo in any old name when paying cash. I am sure couple did not even go to closing, some LLC, or even in kids or grandmas or inlaws name.
Their biggest asset is pensions and 401ks and condo not in their name. I am sure two leased cars to boot.
Anon E. Moose says:
April 4, 2013 at 5:10 pm
Natasha [128];
Is the condo worth more than the BK homestead exemption?
#137
Not sure about the condo’s worth, and he does do “something” else on the side (don’t remember what), but they should get the condo taken away. But probably smart enough not to put it in their name. Hopefully they will garnish wages, but how long does that take to start?
Well, there’s actually a significant difference between a perp’s own words captured in an audio recording, and the verbal accusations of a lawyer seeking a payout (the latter being meaningless).
joyce says:
April 4, 2013 at 4:45 pm
Whatever you say.
(and for the record, I am assuming (rightly or wrongly) both are guilty the perverts and the police, respectively)
The news has spent a whole lot of time talking about the Rutger’s coach who pushed and yelled at some players and two seconds this a.m. on a woman walking her baby in a stroller. She was approached by two or three armed robbers who said they would shoot the baby if she didn’t give them her money. She had no money. One guy aimed the gun at the baby, mom threw herself in front and was shot in the arm-then the guy still turned the gun and shot the baby in the head killing him. Which story should have gotten more air time?
Natasha [141];
Easy, the one that fits the ‘narrative’.
Rutgers Coach – hyper-aggressive rich white male using gay slurs
Baby Murder – Black suspects shoot Hispanic baby (Antonio Santiago) in cold blood — no Django Unchained retribution angle. Next story.
Can I assume that statement from PBA lawyers and Police Captains (when defending actions of their own) are also comeplete b.s. cause they auto-self serving? Or just do people seeking damages for pain?
I just want to know where to draw the line.
140.Statler Waldorf says:
April 4, 2013 at 5:23 pm
Well, there’s actually a significant difference between a perp’s own words captured in an audio recording, and the verbal accusations of a lawyer seeking a payout (the latter being meaningless).
wow, wishing for an edit button, should read:
Can I assume that statements from PBA lawyers and Police Captains (when defending actions of their own) are also comeplete b.s. cause they’re auto-self serving? Or just do it for people seeking damages for pain?
Roxbury+1
http://www.nj.com/entertainment/index.ssf/2013/04/wrestlemania_29_the_dual_life.html#incart_m-rpt-1
grim – u take a peek at my email? just curious. can u send it to JuiceBox?
If its not in your hand you dont own it. Enjoy your granite counter tops.
I smell a bank failure Lehman style. Should have added that to the 2013 prediction thread.
The new solution is bail in not bail out. Shareholders and bondholders. Unsecured creditors = you.
The legislation is ready. The G20 has their program. The only question left is who is going to be the sucka.
Get out of all retirement plans. Forced loans are not far off. If you are in a 401k stop contributing. If you are in an IRA take the hit.
Only keep 3 months of expenses in the bank. You are an investor not a depositor.
Tick…. Tick… Tick…
Can’t happen here right? LMAO
This is no recovery. Absolute doom awaits us.
Smoke em’ if ya got em!
I am sure Obama will be speaking out about little Antonio Santiago at a press conference any day now. After all, he was so upset about Trayvon “if I had a son he would have looked like Trayvon” Martin, I am sure he will give equal attention to the murder of a Hispanic baby.
Or maybe he will invite thug baby-killer De’Marquis to the Whitehouse for a Beer Summit (with some choom on the side).
Hail to the Chief.
Dork
AG says:
April 4, 2013 at 9:38 pm
This is no recovery. Absolute doom awaits us.
An easy rule of thumb: always favor actual evidence (such as an audio recording) over verbal claims.
“I just want to know where to draw the line.”
But your rule of thumb seems to also include making your mind up before having all of the potential info (evidence)…
Flickr / quinn.anya
Goldman Sachs macro analysts Noah Weisberger and Aleksandar Timcenko are out with a new presentation on the state of the global economy.
The title: “Slipping into slowdown.”
According to the data, it looks like the global recovery story may be on hold for now, and markets around the world are not sending encouraging signals.