More on the NJ foreclosure crisis

From NJ Spotlight:

EXPLAINER: JUST HOW BAD IS NEW JERSEY’S FORECLOSURE CRISIS?

The Garden State has the country’s highest percentage of foreclosures among mortgaged homes — and that’s just the beginning

Early this year, banking and real-estate analysts concluded that New Jersey had achieved a dubious distinction, passing Florida to become the state with the highest percentage of foreclosure among mortgaged homes, 6.2 percent as calculated by CoreLogic, a leader in real-estate analytics. (That percentage was actually an improvement from a year earlier.)

Meanwhile, Florida’s rate dropped to 6 percent from 10.1 percent in 2012, and housing markets around the country are recovering far faster from the Great Recession.

New Jersey also took another unfortunate first place, passing New York for the average length of time to complete a foreclosure, at 1,103 days or just over three years, according to CoreLogic.

No end in sight: New foreclosures increased nationwide in January, before dropping again in February, according to RealtyTrac. But in New Jersey they kept rising, up another 126 percent, the firm found. Actual bank repossessions were up 90 percent from a year ago.

Those trends continue. State court records show that through April 15, lenders filed 15,150 new foreclosure cases in New Jersey this year, the sort of number seen only in the depths of the recession. In Atlantic City, foreclosures are up 254 percent from a year ago.

A long wait: In New Jersey, even a completed foreclosure is no guarantee that a house will come back on the market and be reoccupied anytime soon. According to RealtyTrac, it takes 830 days to sell a home in foreclosure here, though that is slightly less than in New York and well behind Massachusetts’ average of 1,299 days.

Zombie foreclosures: New Jersey courts closed 12,639 foreclosure cases by entering default judgments against the borrowers in 2013. But CoreLogic found only 5,888 homes actually went to sheriff’s sale in that time. The borrowers or tenants might still occupy some foreclosed properties, but many stand vacant, “zombie foreclosures.” Even after obtaining foreclosure judgments, banks do not have to maintain a property until taking possession at a sheriff’s sale.

Those empty homes serve as a drag on the market, keeping down prices that collapsed during the recession and leaving many borrowers “underwater,” owing more on their mortgages than the properties are currently worth.

RealtyTrac sees that situation, though still drastic, getting better in much of the country. But again, not in New Jersey. In the first quarter, the number ticked upward here to almost a quarter-million mortgages, 19 percent of the total.

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

133 Responses to More on the NJ foreclosure crisis

  1. Comrade Nom DePlume says:

    Frist!

  2. All Hype says:

    http://www.zerohedge.com/news/2014-04-22/goodbye-biotech-growth-bubble-hello-pharma-ma-bubble-novartis-enters-fray-25-billion

    I have 2 friends who work at Novartis Vaccines. I will get some more info as it becomes available.

  3. Comrade Nom DePlume says:

    [2] hype,

    I’ll have my ear to that ground as well. I think the vaccine piece could run into some headwinds on the Hill and down on Const. Ave.

  4. anon (the good one) says:

    Hype – what’s your point?

  5. All Hype says:

    Anon (4):

    My point is layoffs. Novaritis is in East Hanover. GSK is located in PA with a small office in Parsippany. I am concerned that my friends will either lose thier jobs or be forced to move to PA (which is not bad).

  6. Comrade Nom DePlume says:

    Ben White and Politico are essentially MSNBC-Lite so this has to sting.

    http://www.cnbc.com/id/101598459

  7. anon (the good one) says:

    PSA to y’all 1%

    @bendreyfuss: Waters ranked, worst to best

    Sea
    Tap
    Evian
    Dasani
    NYC Tap
    Fiji
    Rain
    Tonic
    Poland Spring
    Aquafina
    Voss
    Arrowhead
    S Pelligrino
    Perrier
    Seltzer

  8. anon (the good one) says:

    good luck to your friends. wasn’t sure if you were opining about a “bubble”

  9. grim says:

    Bottled water is the #1 scam used by the one percenters to separate the 98 percenters from their money. Hedge funds, nah, bottlers.

    Idiots.

    Voss? You got to be kidding me, tap water in a $5 bottle. Anyone who buys it deserves to be poor. Nothing funnier than the conspicuous consumers that just need to have a bottle of this on their dinner table for everyone to see.

    Don’t get me started on the irony of Fiji water. Let me get this straight, it’s a “green” product? It’s bottled on a remote desert island and shipped in massive diesel powered ships, all over the world, polluting as they go. You could pour a reasonably similar facsimile of this product out of your tap with a relatively tiny investment in a filter, and create essentially zero waste, near zero pollution, near zero carbon, etc.

  10. Comrade Nom DePlume says:

    [9] grim,

    Going to set up a rainwater runoff collection system on a shed at the far end of my property and a basic solar still (not integrated). Will have me some pure H2O.

    The reason is more prosaic than purity or prepping though. My veg plot is out there and it’s a hassle to run a hose across that much yard. Might as well collect and use the water where I need it and avoid the schlepping.

  11. Comrade Nom DePlume says:

    [5] all hype

    If they are forced to work in Philly, they get zinged on taxes. Worse than NJ. Or they could go to KoP. No tax hit but traffic is Jerseyesque.

  12. Painhrtz - Disobey! says:

    Hype Parsippany office is consumer healthcare and they just had layoffs. I think TraH is a CRA at Vaccinnes but we have not spoken in a while. JuaV there as well? Talked to a couple of our former friends 2 weeks ago all is OK on the Oncology side but that could change.

  13. The Original NJ ExPat says:

    [9] I agree with grim. Just more money going to Nestle, Pepsi, and Coke(see link). We’ve used nothing but Boston Tap dumped into a counter-top Brita that holds well over a gallon. My wife broke it while cleaning it about a month ago, we’ve been using straight tap since then, doesn’t taste any different. One of these weekends we’ll pick up another $40 Brita counter-top unit. Newark, NJ also has very good tap water.

    https://shine.yahoo.com/green/best-and-worst-bottled-water-brands-2436818.html

  14. The Original NJ ExPat says:

    [13] cont’d. When my parents come to visit us my Dad always drinks the water straight from the tap and always mentions how great it tastes. It’s also very cold, extremely so in the Winter.

  15. Wait until we’re roaming the country in armed packs, searching out water, then fortifying the sources.

  16. grim says:

    10 – Rain water in this area? You realize how dirty it is? How are you going to control for VOCs in distillation? They’ll come right over with the product water, requiring additional treatment. For example, I believe MTBE forms an azetrope with water, making it almost impossible to remove via distillation. A good RO unit with some heavy duty activated carbon pre-treatment will remove it.

    Slapping a good RO system on a well is probably a better idea. Otherwise, use your collected water for non-potable uses. Besides, a solar still? All that work for a cup of water? Maybe if you are stranded on an island.

  17. expat (14)-

    And those galvanized pipes you find in old houses give H20 that “special” taste.

  18. I like MTBE in my water. The gasoline smell gives me a little buzz.

  19. grim says:

    Brita/Pur pitcher filters are useless, the carbon filtration is exhausted very quickly compared to the particulate filtration when using tap. Even worse, when you don’t change the filter frequently enough (which is always the case) the carbon and resin filters will actually start to leech pollutants back into the water. Chloramines will quickly exhaust the very small amount of activated carbon.

    Undercounter RO system is the way to go, the filters are larger, last longer, and result in a significantly purer product.

  20. The Original NJ ExPat says:

    One of my daughters and her friend sold lemonade and snow cones to marathon spectators in front of our building yesterday, they netted over $30. My friend, an attorney who is the father of my daughter’s friend supplied a bag of ice and plastic cups and kidded with them that the first $6 would have to go to refunding him for the ice and cups. My daughter has been making these over-sized hockey pucks of ice that the hand cranked snow cone machine needs for a week. Because of this she asked my friend why ice costs money. He said because there wasn’t time to make it, he had to buy it from the store. My daughter countered that he knew for weeks what day the marathon was scheduled and his daughter should have been making her own ice for the lemonade like she was supposed to. Further she said they would reimburse him for the cups, but not for the ice. Smart kid.

  21. Comrade Nom DePlume says:

    [16] grim

    Don’t care. It’s going right into dirt, remember? Idea of solar still is to catch out some of the crap that is coming from atmospheric sources or off the shingles so my veggies don’t taste so much like asphalt.

  22. Xolepa says:

    I’ve been drinking well water since I was 4 years old. Haven’t mutated yet.

  23. Michael says:

    I agree. Future generations will look back at the bottled water industry and either laugh or cry at our complete stupidity.

    Not all businesses bring value to the world. Some, like water companies, prove that sometimes profits are made based on a con game. Proves a point, just because a company profits and creates wealth, doesn’t mean they bring value to a society. These water companies are profiting on a system that is actually harming our environment. Of course it’s a free market, so we can’t tell them not to do it, even if it is hurting ourselves. The scary part, God knows how much of our economy is based on a con game.

    Btw, my wife refuses to drink anything but bottled water. Thanks to the con, I’m stuck paying an insane amount of money for water in a bottle with the label Poland Spring, as opposed to the cheap water coming out of my faucet. Got damn marketing is the devil.

    grim says:
    April 22, 2014 at 8:28 am
    Bottled water is the #1 scam used by the one percenters to separate the 98 percenters from their money. Hedge funds, nah, bottlers.

    Idiots.

    Voss? You got to be kidding me, tap water in a $5 bottle. Anyone who buys it deserves to be poor. Nothing funnier than the conspicuous consumers that just need to have a bottle of this on their dinner table for everyone to see.

    Don’t get me started on the irony of Fiji water. Let me get this straight, it’s a “green” product? It’s bottled on a remote desert island and shipped in massive diesel powered ships, all over the world, polluting as they go. You could pour a reasonably similar facsimile of this product out of your tap with a relatively tiny investment in a filter, and create essentially zero waste, near zero pollution, near zero carbon, etc.

  24. Painhrtz - Disobey! says:

    expat don’t send her to college set her up in a business of her choosing!

  25. grim says:

    Proves a point, just because a company profits and creates wealth, doesn’t mean they bring value to a society.

    The most common argument I hear is that they aren’t selling water, but at the most basic level they are selling convenience and access. Secondarily, in order to compete effectively, they need to differentiate themselves and market towards a specific segment, and many times the high price is part of that strategy. At the most extreme end, you have companies that are nearly crossing the line by describing themselves as a health product, a pharmaceutical.

    But yeah, idiots.

  26. Comrade Nom DePlume says:

    [16] grim

    As for work, it’s hardly any. I have a very large, black tub that serves no purpose, and a roll of visqueen. Done in 90 seconds.

    And since many things I do serve more than one purpose, do you not see another motivation at work here? I have young girls and this is a science experiment! They already planted six different veggies in 72 seed starters in a little tabletop greenhouse; the spinach started sprouting this week.

    There is a method to the madness, Grim. If I really needed water from nature, I’d just tap the stream running through my property.

  27. Comrade Nom DePlume says:

    Grim, if you have researched undercounter RO options and found a cost effective and reliable product, let me know. I am having several plumbing upgrades done in my kitchen and I just started looking at these.

  28. Ragnar says:

    Speaking of foreclosures that take too long to happen.
    I moved into my new home in 2010, within a year, one of my neighboring families, after attempting to sell their house for 2 months at an overpriced $999k, simply disappeared, heard a rumor from kid’s school that they were “moving to Australia”. The guy had some sort of what I assume is a fly-by night HVAC business with an equipment delivery truck parked at his house. Needless to say, I was glad I didn’t buy from him.
    Anyway, there were signs tacked up as “abandoned”, some cards on the window asking people to call some number (looked like a mortgage company) if they saw people. Weeds grew, then occasionally got cleaned up. A sign on the window said it was winterized. After the hurricane, trees were down on their yard for half a year, but didn’t hit the house. Hard to tell if any effort was coming from the mortgage company or friends of the family. I don’t know if foreclosure ever began, or whether someone was trying to figure out what happened.

    Then last summer, trucks start showing up doing repair work ripping stuff out of the house, enough to fill an industrial dumpster. By fall, there are a bunch of balloons on the doorstep saying “welcome home” and the kids are back at the bus stop.

    My suspicion is that they just took a “mortgage vacation” from NJ went somewhere for work as I suspect HVAC installation work was way down in NJ, then decided to give it another try when activity picked up.

    Anyway, my view is that neighbors that just disappear and abandon house for 2 years are undesirables.

  29. All Hype says:

    Pain (12):

    TraH is in vaccines. I am getting some info from the anger twins about ShyD. LarM just left Novartis to go back to Abbvie as working from home >>>> 1.5 hour commute. JuaV is kicking it with BreE and ChaR over at Ferring.

  30. The Original NJ ExPat says:

    [17] Clot – that’s why our grandmothers taught us to run the cold water for a while before you drink it, right? Our place was built in 1926, but somewhere along the way they switched to all copper.

    expat (14)-

    And those galvanized pipes you find in old houses give H20 that “special” taste.

  31. The Original NJ ExPat says:

    [18] Do I remember correctly that the first time they discovered MTBE in the water tables that it came from the Shell Station in Rockaway Township at the bottom of Green Pond Rd, adjacent to Route 80?

    I like MTBE in my water. The gasoline smell gives me a little buzz.

  32. Anon E. Moose says:

    OT – Soccer Talk!

    Man U Sacks Moyes

  33. Ragnar says:

    27,
    I’m on my second Watts RO unit and am starting to give up on them. Every 6 to 12 months something goes wrong, and the tubes are a major hassle to reach in a tight space. Makes me almost willing to move to a service-based product, just so I have someone to call competent to fix or replace.

    I think this is the one I’m currently using. I think my brine drain pipe, a thin flexible rubber tube, is partly clogged, possibly because it was installed without enough vertical drop.
    http://www.amazon.com/Watts-Premier-531418-Reverse-Membrane/dp/B0051SUDVW/ref=sr_1_4?ie=UTF8&qid=1398174371&sr=8-4&keywords=watts+reverse+osmosis

  34. Comrade Nom DePlume says:

    [14] expat

    “[13] cont’d. When my parents come to visit us my Dad always drinks the water straight from the tap and always mentions how great it tastes.”

    Straight from Quabbin, parts of it going under the Mass Pike.

    Quabbin is an amazing place. Very far sighted project for its time. For years, there were persistent rumors about being able to see houses under water as four towns were flooded to make Quabbin. But there’s absolutely no truth to that as the towns were razed right down to dirt. Actually, anything that could be moved was, and foundations left behind were leveled and trucked off. Even the cemeteries were moved.

  35. grim says:

    27 – Look for a unit that requires standard filter cartridges and not proprietary ones. The proprietary units are taking over Lowes and Home Depot, because the manufacturers realized that this is a consumables business, and using a commodity standardized filter means you’ll never sell another product.

    Most everything is standardized, so there is little differentiation between products.

    I like Dow Filmtec RO membranes, also make sure the carbon is the higher quality coconut shell.

    I’ve dealt with the folks over at airwaterice.com for many years, they are a small shop that has been around forever. They do a lot of business with the high end reef aquarium folks, but realize that good water is good water, period.

    You might want to install the unit in the basement below the sink, and not actually in the sink cabinet, it is much easier to replace filters, clean, and service this way. Usually works fine since in 75% of houses, the laundry is nearby. It only requires a tiny 3/8th hole to run the hose back up. Also, with any filter and plumbing there is a chance of leaks, better in the basement than in new cabinets.

    Also easier to plumb a line to the fridge in this manner. Also, it opens up options for utilizing the waste water for laundry. Reverse osmosis generates quite a bit of waste water (about a 4/1 or 5/1 ratio of waste to product).

    Do not use vampire fittings that pierce the copper piping for the feed line. These are a disaster in waiting. Do not use a unit that does not have push-fit john guest fittings. The cheap ferrules leak like an incontinent racehorse and are a nightmare to service, I’ve seen them get lose and leak just from folks messing around under the counter.

  36. Comrade Nom DePlume says:

    [32] moose

    There has been talk Tyneside about swapping Moyes for Pardew. I actually think it could work.

  37. Ragnar says:

    35, Grim
    In other words, don’t use the product I’m using, and dont’ put it under my kitchen sink? (which is where it’s at, probably with pierced copper and plastic ferrules).

  38. The Original NJ ExPat says:

    [34] Nom – Exactly. There was a great documentary on TV a while back(might have been an episode of Chronicle), and as you said, there was nothing but dirt left before they started filling Quabbin. One of these days I want to get my kids out to a museum they have out that way that’s dedicated to the construction of the Reservoir. I live right on the high side of the original Boston Reservoir (Chestnut Hill Reservoir, completed in 1872) and there is nice overlook and sitting area and there is a sundial-like granite floor in the circular sitting area that shows the directions and distances to the different reservoirs in the system, including Quabbin.

    Straight from Quabbin, parts of it going under the Mass Pike.

    Quabbin is an amazing place. Very far sighted project for its time. For years, there were persistent rumors about being able to see houses under water as four towns were flooded to make Quabbin. But there’s absolutely no truth to that as the towns were razed right down to dirt. Actually, anything that could be moved was, and foundations left behind were leveled and trucked off. Even the cemeteries were moved.

  39. Comrade Nom DePlume says:

    [35] grim,

    Good advice, thx. I am running a fridge line, putting in a small tankless for the kitchen, installing new sink hardware, and adding filtration.

    This house is on well water. Also, it was remodeled not long ago and the old plumbing replaced with Pex. It has a water treatment system that consists of Ph balancer, water softener, UV chamber and in-line cartridge filter. Bit with all that, I am still concerned as the water does have coli forms (not E. coli) and I have to figure that runoff is a problem insofar as the well is close to a low lying stream.

    The plumbing is all easily accessible from my unfinished basement and the lines all branch from a central box there, so mounting the system there makes the most sense anyway.

  40. joyce says:

    Comrade,
    Have you been following the Aereo lawsuit? I was just reading about it at the marketticker.

  41. joyce says:

    The U.S. government must turn over the legal memo justifying its killing of Anwar al-Awlaki, the American citizen who was blown to bits by two CIA drones in Yemen in 2011, a federal court ruled Monday.

    A panel of the 2nd U.S. District Court of Appeals in New York unanimously rejected the government’s argument that it could withhold its reasoning for assassinating al-Awlaki, a radical cleric born in New Mexico who it said was a senior recruiter for al-Qaeda, and another U.S. citizen who was with him on Sept. 30, 2011.

    It’s the first time a court has ever ordered the unveiling of a secret document supporting the U.S.’s targeting of American citizens in the war on terrorism. The American Civil Liberties Union, which challenged the government’s withholding of the 2010 memo, called the ruling a “resounding rejection of the government’s effort to use secrecy and selective disclosure to manipulate public opinion about the targeted killing program.”

    http://www.nbcnews.com/news/us-news/u-s-loses-ruling-secrecy-drone-killing-american-anwar-al-n86286

  42. anon (the good one) says:

    FU WSJ

    @EpicureanDeal: This is the most meretricious, disingenuous piece of bullsh1t I’ve seen in the Wall St Journal in, oh, 3 or 4 weeks: http://t.co/8CJTK2XLjt

  43. Ragnar says:

    anon,
    Feelings, wo-o-o feelings

  44. Painhrtz - Disobey! says:

    Hype got the 411 from ShyD who is now ShyA and KelH they are both alright as oncology is the only organization that was expanding. did not know on TraH since they had not spoken to her in a while

    talked to some of my old group they let me know Lar was back at Abbvie which surprised me because I heard he had a rough time with the head of Ops.

    either way time to start a CRO and damn the man, we should probably talk soon way overdue.

  45. grim says:

    putting in a small tankless for the kitchen

    Tankless RO? These units run very slow, even if you use a large RO membrane. Most come with a 25-50 gallon per day filter, which means they produce water at a rate of 1-2 gallons per hour. Filling up a pot of potatoes or water for pasta would take you 15 minutes, or more.

    Most everyone that I know that put in a tankless RO filter system added a tank to it within a month or two. You’ll know when it’s time when your family gives up on it and just uses tap water because the wait is so painful. Also, check your ice maker/fridge, many of these can’t deal with the slow flow rate of a tankless system and just won’t make ice.

    The problem with just slapping in a monster 100 gallon per day membrane (other than the fact that they are very expensive) – is that the faster the flow rate the lower the output purity. You trade off speed for purity.

    Unfortunately, if you want RO, a tank is the way to go, and the tank too should be considered a consumable, you’ll be replacing it every 5 years or so.

  46. Fast Eddie says:

    I think tap water in our area is still some of the best-tasting and best quality water. And once in a while, you will get a slight hint of chlorination which is actually ok to me. I know, let the jokes fly.

    I will say, growing up in Jersey City and now living 15 minutes away, I never knew of anyone that died from drinking tap water. In fact, this past weekend, I was sitting on my deck, soaking up the sunshine and I happen to hold a glass of water up towards the sun thinking that I can’t see a smidge of cloudiness or sediment. As a perpetual student of engineering, I’m fully aware of potable water criteria but I would suspect that bottled water isn’t significantly different in quality.

  47. JJ says:

    lots of fruit loops on line today, straight men dont drink bottled water and Britta filters are for fuegazzy types

  48. The Original NJ ExPat says:

    [46] My guess is Nom means a tankless HW heater.

  49. Painhrtz - Disobey! says:

    Jeez JJ from Long Island and can’t spell fugazzi right

  50. Comrade Nom DePlume says:

    [49] expat

    That’s right. That’s why I listed it separately. Could have been clearer.

    But I am concerned about slower flow. I understand RO has that rep.

  51. Comrade Nom DePlume says:

    [43] anon,

    For the life of me, I have no idea what you are pissed off about. Did you even read it?

  52. joyce says:

    Associated Press

    WASHINGTON — The Supreme Court will decide whether police have probable cause to make a traffic stop if it turns out the officer was mistaken in thinking the driver violated the law.

    The justices on Monday said they will hear an appeal from a North Carolina man who claims his Fourth Amendment rights were violated when police pulled him over for having a burned-out brake light. The police officer ultimately found cocaine in the car and the driver and his passenger were convicted of drug trafficking.

    A state appeals court ruled the stop was impermissible because state law only required a car to have one functioning brake light. But a divided North Carolina Supreme Court reversed, finding the stop was permitted if the officer’s mistake about the law was reasonable enough to conduct a routine traffic stop.

    The issue has split various state and federal appeals courts. To make a traffic stop, the Fourth Amendment typically requires police to have a reasonable suspicion that a traffic law has been violated. But some courts have held that as long as a police officer has a reasonable basis to believe a traffic violation was committed, a stop is constitutionally permissible even if it is later discovered there was no actual breach of the law.

    Other courts have held that no matter how reasonable or understandable the mistake was, it can’t justify a traffic stop. These courts have ruled that any evidence obtained from a stop based on a mistake of law is inadmissible in court.

    The Supreme Court will hear argument in the case of Heien v. North Carolina, 13-604, in its new term beginning in October.

  53. Libturd in Union says:

    Joyce,

    It’s an interesting case and I’m betting the court decides in favor of us, but how stupid were those drug runners?

  54. The Original NJ ExPat says:

    [54] If I was a drug kingpin I wouldn’t hire any drug runners that didn’t have a clean driving record, clean appearance, and a very clean looking and recently inspectect late model Toyota Camry in a neutral color.

  55. plume (36)-

    Moyes and Pardew are almost the same manager. I’d keep Pardew, as at least he will set a team up to attack the goal. Moyes always plays not to lose.

  56. Painhrtz - Disobey! says:

    expat late model chevy impala you want to talk about the worlds most nondescript car. Hell most of them were rentals.

    Still running drugs and can’t even maintain the car, morons.

    though I would not count on the court ruling in favor of the citizenry.

  57. Magpies won’t improve until we get rid of the fcuktard owner who sells every single quality player we develop. At least we don’t have to worry about Kinnear the simpleton anymore.

    “There has been talk Tyneside about swapping Moyes for Pardew. I actually think it could work.”

  58. Backing the Magpies still beats being a sad ass mackems or gooner.

  59. joyce says:

    Yeah, I agree with Pain. They can’t set the precedent for the future of throwing out all evidence if the initial stop was due to a mistake. And yes, they were very dumb. The article is sparse on details and I haven’t read any court doc’s… but I’m curious at to why/how the car was search if the stop was for a bulb out.

    Libturd in Union says:
    April 22, 2014 at 12:41 pm
    Joyce,

    It’s an interesting case and I’m betting the court decides in favor of us, but how stupid were those drug runners?

  60. clotluva says:

    Some macro-economic questions for the board:

    There’s been a few comments/articles posted recently that highlight the trend for the re-loosening of lending standards. While this will have an inflationary effect on housing prices – aside from this being driven by lenders’ desire to sustain their business now that the refinancing business has dried up – is it likely being driven by a broader overall deflationary trend in prices? Have we exhausted our tools to ‘goose’ the economy?

    I noticed that last week’s Kiplinger Letter highlighted deflationary trends hitting most of Europe (a key trading partner); on top of that, our development of domestic energy resources is helping to curb energy inflation, and food price inflation seems to have calmed down quite a bit compared to the past couple of years. And I think it is apparent that the college tuition bubble is in the process of deflating.

    So…now that interest rates are still at rock-bottom, banks have infinite liquidity, and corporate financial reserves are at record highs, what other levers are out there to spur inflation (and consumer demand)? Obviously a broad-based increase in wages (not just a government mandated increase in the minimum wage) would help drive consumer demand. What would be a watershed event that would lead either to market-driven wage inflation (companies spending their $) or a sudden increase in the velocity of transactions (individuals spending their $)?

    War and tax reforms are really the only two things that come to mind.

  61. grim says:

    what other levers are out there to spur inflation

    Entitlement spending – if you won’t spend, we’ll tax you, take the money from you, and give it to someone else to spend.

  62. Fast Eddie says:

    Entitlement spending – if you won’t spend, we’ll tax you, take the money from you, and give it to someone else to spend.

    That’s a lot of grape soda, barbecue chips and Newports!

  63. meluva (61)-

    Yes.

    “Have we exhausted our tools to ‘goose’ the economy?”

  64. gary (63)-

    Don’t forget pork rinds and Beefaroni.

  65. NJ Veiled Racism Report

  66. yome (66)-

    Yeah, no problem stimming inflation in all the wrong areas, like consumer goods and necessities.

    Got any iPad recipes?

  67. grim says:

    Plenty of dirty white meth addicts in the middle part of the country (and especially in Mormon Salt Lake City) that would be glad to get your tax dollars.

  68. clotluva says:

    [62] [63]

    Entitlement spending – if you won’t spend, we’ll tax you, take the money from you, and give it to someone else to spend.

    I think that is somewhat already in process, with increased attention being given to multinationals that are structured so as to optimize the tax treatment of revenue (and minimize their tax liabilities).

    (I’m somewhat ambivalent about this; i.e. If Apple or GE were to pay 5% more in taxes due to changes in tax law, and that increase in tax revenue subsequently be passed directly on to Joe Six Pack in the form of a reduced tax burden, it seems it would be benefial to the overall economy. But to take that revenue and entrust it to a congressional appropriations committee to allocate as it sees fit will likely just result in graft.)

  69. Fast Eddie says:

    Meat,

    Can I use my Bomma phone to get beefaroni delivered?

  70. clotluva says:

    [69]
    Plenty of dirty white meth addicts in the middle part of the country (and especially in Mormon Salt Lake City) that would be glad to get your tax dollars.

    I’m thinking the tax savings would be passed along to W2 wage earners rather than dole recipients/underground economy participants.

  71. clotluva says:

    [69] Grim

    Plenty of dirty white meth addicts in the middle part of the country (and especially in Mormon Salt Lake City) that would be glad to get your tax dollars.

    Also, as you’ve mentioned before…public works projects/infrastructure upgrades (although clearly a potential sink-hole of waste), have in the past been a good use of public resources (as opposed to welfare checks…and – for Fast Eddie – a carton of Newports and a ‘Bama phone).

  72. Painhrtz - Disobey! says:

    Listen I just want my stimulus delivered with dominos, 2 packs of viceroys, and 30 pack of natty light, Is that so hard?

  73. Painhrtz - Disobey! says:

    and if you have to look up what viceroys are you never delivered cheap eats to a trailer park

  74. Comrade Nom DePlume says:

    [76] pain

    I know what viceroys are (were?). And I’ve never delivered anything to a trailer park.

  75. Comrade Nom DePlume says:

    [54] lib

    No bet. SCOTUS will side with the cops. It’s only up because the court wants to fill in a gap.

  76. joyce says:

    You gotta love how if the cops allegedly don’t have a guilty mind (no intent a.k.a. acting in good faith), they can violate your rights. Yet there is a whole host of violations, misdemeanors, and other crimes that do not require ill intent on your part for you to be found guilty.

  77. Michael says:

    Great post!!! Thank you. This is what I have been saying for a while on this board. I know it looks like an attack on the 1% or the ultra-wealthy, but it’s for the good of the economy. I can’t see any other way to get the economy going. We just printed up boat loads of money (fed quantative easing program), yet no inflation in sight. That has to mean the money is tied up in a few hands at the top, there is no other way to explain how we have not encountered inflation yet, with this much money being pumped into the system. Also, all the data has pointed to the 1% as the only part of the population to see gains. The writing is on the wall.

    clotluva says:
    April 22, 2014 at 1:16 pm
    Some macro-economic questions for the board:

    There’s been a few comments/articles posted recently that highlight the trend for the re-loosening of lending standards. While this will have an inflationary effect on housing prices – aside from this being driven by lenders’ desire to sustain their business now that the refinancing business has dried up – is it likely being driven by a broader overall deflationary trend in prices? Have we exhausted our tools to ‘goose’ the economy?

    I noticed that last week’s Kiplinger Letter highlighted deflationary trends hitting most of Europe (a key trading partner); on top of that, our development of domestic energy resources is helping to curb energy inflation, and food price inflation seems to have calmed down quite a bit compared to the past couple of years. And I think it is apparent that the college tuition bubble is in the process of deflating.

    So…now that interest rates are still at rock-bottom, banks have infinite liquidity, and corporate financial reserves are at record highs, what other levers are out there to spur inflation (and consumer demand)? Obviously a broad-based increase in wages (not just a government mandated increase in the minimum wage) would help drive consumer demand. What would be a watershed event that would lead either to market-driven wage inflation (companies spending their $) or a sudden increase in the velocity of transactions (individuals spending their $)?

    War and tax reforms are really the only two things that come to mind.

  78. Comrade Nom DePlume says:

    [80] Joyce

    Yup. This will prove to be a huge fig leaf for the cops. The only reason the citizenry may b spared is if the supremes look at this and say “way too easy to be abused.”

  79. Comrade Nom DePlume says:

    [81] Michael,

    No movement is possible. The left has doubled down on the Robin Hood strategy. And incentivizing consumption conflicts with their other goals.

    At some point they may have enough power in Washington to fully implement the Robin Hood strategy. At that point, they will have to look at protectionism and capital controls lest the giant sucking sound we hear is everything moving overseas.

  80. joyce says:

    I agree completely; except that they already have several tools that are way too easy to be abused in my opinion. But that’s a whole ball of wax.

    I’m still waiting for the judges to rule that judges don’t have absolute immunity. Funny how they gave it to themselves in the first place and it’s not reviewable. Maybe when we’re all roaming the country in armed packs …

    Comrade Nom DePlume says:
    April 22, 2014 at 2:26 pm
    [80] Joyce

    Yup. This will prove to be a huge fig leaf for the cops. The only reason the citizenry may b spared is if the supremes look at this and say “way too easy to be abused.”

  81. Bystander says:

    Grim 62,

    No guarantee that means entitlement spending here. CEOs consider Americans lazy and entitled. Perhaps the appreciative slave labor in Asia will get that boost.

  82. Michael says:

    Exactly!!! It’s not about left or right, it’s about getting our economy to work, right now it’s broken. Consumer spending is the single biggest factor in getting the economy going. It creates demand, drives innovation, and leads to drop growth. Money stuck at the top in a few hands slowly brings the economy to a slow trickle of growth. That’s where we have been with this economy for a while now.

    Also, I agree the govt’s way of dishing out the money is a joke. It should be done directly like you have stated, through a tax break, directly to the consumer. Any other way of handing out the money is a joke.

    “(I’m somewhat ambivalent about this; i.e. If Apple or GE were to pay 5% more in taxes due to changes in tax law, and that increase in tax revenue subsequently be passed directly on to Joe Six Pack in the form of a reduced tax burden, it seems it would be benefial to the overall economy. But to take that revenue and entrust it to a congressional appropriations committee to allocate as it sees fit will likely just result in graft.)”

  83. Painhrtz - Disobey! says:

    Nom that because you grew up in Mass whats the difference : )

  84. When we’re roaming the country in armed packs, we’ll see just how useful judges are.

    Hint: they may be far less useful than back in the Wild West days.

  85. Someday, my Mossberg and a pit bull may trump your rule of law.

    This is a good thing.

  86. 1987 Condo says:

    #81…the QE is being held in bank reserves

  87. clotluva says:

    [81] Michael [83] Comrade

    To be clear, I am not advocating for the Robin Hood Strategy. But it appears that central banks will do everything in their power to prevent deflation, so I’m trying to anticipate next steps now that it seems like there are myriad deflationary signals on the horizon and they seem to have exhausted their tools to ward it off.

    Obviously, the state of the economy has huge implications going into the 2016 elections. I anticipate all manner of headfakes and artificial stimuli between now and then. Remember Cash for Clunkers?

  88. FKA 2010 Buyer says:

    Good thing we are not in Oklahoma, they want to charge you for generating your own energy.

    http://newsok.com/oklahoma-electric-utilities-want-higher-rate-for-solar-wind-energy-producers/article/4083525

  89. joyce says:

    91
    “lying in wait for the two teens in his basement with a book, two guns, energy bars and a bottle of water.”

    I can picture you doing that, with a bottle of boose though… or would that un-steady your gun hand?

  90. Comrade Nom Deplume, Guardian of the Realm says:

    [87] pain,

    Not sure what you mean. If you want to clarify, I can get to it after my meeting.

  91. Anon E. Moose says:

    Clot [89];

    Someday, my Mossberg and a pit bull may trump your rule of law.

    “An armed society is a polite society. Manners are good when one may have to back up his acts with his life”. – Robert A. Heinlein.

  92. Libturd in Union says:

    I don’t know how bad the economy is. My favorite gauge, the strip mall in Union where I get Chinese take-out for lunch periodically, is almost back to full occupancy. In the last few months, an Indian grocer, a liquor store, a discount hair cutter and now ShopRite is moving in where Pathmark vacated. Though, the BP in front of it is still vacant, but they might have the old gas tanks underground. Plus the stock market continues its great melt up!

  93. Painhrtz - Disobey! says:

    just busting your chops for being from Mass Nom, nothing serious you have been reading Anon to long.

    Nom since your dad is old school police what does he or former compatriots think of the current militarization of the police forces and the out right douche baggery of cops that seems to be on the rise. When I was a kid we knew all the cops in town there were one or 2 A$$holes but most were just happy punch a clock. now it seems like every cop has their chocolate starfish puckered and is going out of their way to be a d!ck

  94. Bystander says:

    Lib,

    I wonder what is pushing the economy? What is pushing stocks to new heights? The answer is not economic growth. A dead body can be zapped to look like it is moving. Problem is that market has priced in the guy getting off the floor and running.

  95. clotluva says:

    [97] Libturd

    I don’t know if I would interpret a surge of people getting into the the takeout or discount hair cutting businesses as a sign of a healthy economy. It could just be that there is a glut of folks that lack any other opportunities to generate income and are going back to the basics. Their 99 weeks of unemployment checks might have finally dried up, and indenturing their extended families into menial service might be their last, desperate attempt at pursuing the American Dream. Who knows.

    But the bull run in stocks is getting quite long in the tooth…

  96. anon (the good one) says:

    “In books written as early as 1956, Heinlein dealt with incest and the sexual nature of children. Many of his books (including Time for the Stars, Glory Road, Time Enough for Love and The Number of the Beast) dealt explicitly or implicitly with incest, sexual feelings and relations between adults and children, or both.[71] The treatment of these themes include the romantic relationship and eventual marriage (once the girl becomes an adult via time-travel) of a 30-year-old engineer and an 11-year-old girl in The Door into Summer or the more overt inter-familial incest in To Sail Beyond the Sunset and Farnham’s Freehold. Peers such as L. Sprague de Camp and Damon Knight have commented critically on Heinlein’s portrayal of incest and pedophilia in a lighthearted and even approving manner.[71]”

    Anon E. Moose says:
    April 22, 2014 at 3:19 pm
    Clot [89];

    Someday, my Mossberg and a pit bull may trump your rule of law.

    “An armed society is a polite society. Manners are good when one may have to back up his acts with his life”. – Robert A. Heinlein.

  97. Libturd at home says:

    I’m really not sure. Part of the problem IMO, is that we tend to be Jersey-centric around here and quite honestly, this state is truly sinking under the weight of an overbearing, over regulating and over taxing state and local government. For example, driving down to DC via Atlantic City and back via I-95, one crosses two major bridges and through one tunnel. The huge Bay Bridge cost $5.40 round trip. The Harbor Tunnel costs $3.60. Both offer significant commuter costs that cut the price to $3.50 combined. Even the Delaware Memorial Bridge costs only $4.00. Now compare this to the Hudson River crossings or the Verrazano Bridge. $11 and $10.66 with no discount for commuting. Our rail costs are completely insane too. My three day-a-week commute (12 miles) costs me $60 per week or $240 per month. Then there are our insane property taxes that will never be controlled thanks to our Blue assembly. Christie almost did it, but the true blue state assembly destroyed him. And don’t think for a minute that regionalization of shared services will ever occur. Not when everyone thinks their town is the sh1t and requires their own everything since theirs must be better than their neighboring towns everything. Then there is the whole corrupt double-dipping county government made up of nothing but patronage positions.

    Then there is government regulation after regulation which makes job growth nearly impossible. You couldn’t even ship wine here until recently. NJ is so business unfriendly that the corporate exodus continues unabated. We have taxes here that other states have never even heard of. And the goverment doesn’t just tax the crap out of us…they regulate so much of what is not regulated elsewhere. Whether it be guns or sparklers.

    And this over regulation is nothing new. My dad moved his electronics manufacturing plant (rectifiers mostly) to Williamsburg Brooklyn from Bayonne during the 80s since the costs and regulations were killing his business.

    The government just keeps on growing here and eventually, the Abbot, Mount Holly and so many other true blue rulings are going to cause the entire state to resemble Detroit. Heck, in Montclair they are back to overfunding the library, adding more teachers to the schools and expanding the foreign languages. Of course, the current clown crew did nothing but refinance the debt and extend and pretend just like the Feds. The school portion of taxes (68% of total property tax collections) is going up over 4% and that’s with raiding the surpluses and with a lot of teacher retirements.

    I dare any of you to look up salaries of public workers in other states outside of the Northeast. These servants would be lucky to make one third of what they make here on average. Yes, there is a difference in the cost of living, but it’s not 200% more expensive.

    So getting back to your question, the overall economy is really improving. People are getting raises, people are eating out like there’s no tomorrow, the strip in Vegas is hopping again, real estate is on fire again and even California isn’t bitching much anymore. Tourism is at record highs in New York City and the list of positives is nearly endless. Good times are back and the market is supporting it. There’s only so much earnings growth companies can gain by shrinking labor and buying back stock. Eventually, gains in productivity from economies of scale are lost.

  98. Libturd at home says:

    Uh oh. Looks like Anon has found Wikipedia. Get ready for tons of thoughtless posts with blank bookmarks for the next two years or so.

  99. Ragnar says:

    clotluva,
    Forget short term stimulus. Forget the idea that inflation is good for consumers, or the idea that consumers drive the economy. Only in the Keynesian paradigm.
    Countries have historically enjoyed rapid growth with zero or negative inflation under the gold standard.

    What politicians could do to improve the long run trajectory of the US economy, as a start:
    1) get the hell out of the way of economically productive people
    2) privatize state assets
    3) deregulate the bureaucratic/regulatory state
    4) close the Fed and move to non-political money.
    5) kill themselves while burning down the political science and sociology departments of all universities.

  100. Libturd at home says:

    I like 5!

  101. joyce says:

    Politics is war by other means.

  102. anon (the good one) says:

    you are really fukcing pissing me off, dude.

    last week i posted lots of factual info. welfare to black people is such a tiny, tiny piece of the puzzle. billions, real money, goes into sh1tloads of other entitlements.
    obsolete armament, for example. billions go into fighter jets that don’t work.

    When it comes to government spending the average retarded cannot and will not get past Newark.

    Fast Eddie says:
    April 22, 2014 at 1:31 pm
    Entitlement spending – if you won’t spend, we’ll tax you, take the money from you, and give it to someone else to spend.

    That’s a lot of grape soda, barbecue chips and Newports!

  103. FKA 2010 Buyer says:

    @ Anon

    No one wants to hear the facts. Welfare could be defined as any financial aid from a government agency. Most people only associated welfare with handout to minorities. Nothing more than an uninformed talking bobble head. The real welfare (pure dollars) I would bet goes to the automotive, financial and energy related industries.

    How many people are screaming about the Farm subsidies?

  104. Michael says:

    I’m interested in hearing how a consumer doesn’t drive the economy. Where does the demand come from in the equation if we take out the consumer? Why have a business without a consumer?

    I agree that inflation stinks for wealthy individuals who are not borrowing any money, but for the avg consumer, who is in debt, wage inflation actually increases their buying power by erasing a portion of their debt through inflation. This is also why the fed pushes a policy of inflation, as a tool to take down govt debt. I would figure that is the main reason we have inflation as opposed to deflation.

    “Forget short term stimulus. Forget the idea that inflation is good for consumers, or the idea that consumers drive the economy”

  105. joyce says:

    Besides Gary (sorry gary) and JJ (sorry I’m not sorry) and 1 or 2 others… a lot of people on here criticize the corporate welfare queens, to answer your question. I regularly display for contempt for it on here, and almost never mention the little people. Not that this justifies their silence, but my guess is what bugs them is that some people think the welfare for little people is okay and/or necessary.

    Why can’t we agree to say all of it is horrible and needs to be ended? Do we really believe that the puppet masters want to end welfare for the little people because they’re greedy @ssholes? They created the welfare system (to put a lid on dissent, in all it’s forms) and to funnel money to given industries.

    But please please whomever it may be keep thinking more better govt with just the right group of individuals can make a difference. The State is merely there to rob you on behalf of others with an aura of legitimacy.

    109.FKA 2010 Buyer says:
    April 22, 2014 at 7:06 pm
    @ Anon

    No one wants to hear the facts. Welfare could be defined as any financial aid from a government agency. Most people only associated welfare with handout to minorities. Nothing more than an uninformed talking bobble head. The real welfare (pure dollars) I would bet goes to the automotive, financial and energy related industries.

    How many people are screaming about the Farm subsidies?

  106. joyce says:

    “Why have a business without a consumer?”

    Why did those silly people create, produce, market, and sell personal computers? There were absolutely ZERO consumers of PC’s prior to them starting their business(es). What fools!!!!

  107. joyce says:

    Who gives a sh*t about inflation eating away at your debt if your wages and/or assets are not at least keeping pace?

  108. joyce says:

    keeping pace (with the cost of living)?

  109. joyce says:

    Wow, I responded before reading the rest of your idiotic post.

    110.Michael says:
    April 22, 2014 at 7:33 pm

    I would figure that is the main reason we have inflation as opposed to deflation.

  110. Michael says:

    You call me an idiot, but answer your own question. Who did they need to market, produce, and sell to? Yea, that’s right, a consumer. Like I said, a consumer drives everything in business. Without a consumer, you don’t have a business. Obviously these guys were focusing on the needs of the consumer when they started making computers. They didn’t just decide to make it for no reason. They were trying to address the needs of the consumer when they were creating the computer.

    joyce says:
    April 22, 2014 at 7:40 pm
    “Why have a business without a consumer?”

    Why did those silly people create, produce, market, and sell personal computers? There were absolutely ZERO consumers of PC’s prior to them starting their business(es). What fools!!!!

  111. joyce says:

    So creating a brand new market with revolutionary type of product/service… all due to the consumer who never knew he needed it in the first place.

    F your boy Jobs (the only innovater of the past 100 years by your own words), he did nothing… all due to joe public consumer. And that reminds me, you disqualified everyone else’s choice of other ‘innovators’ cause that was more of a team effort you said. You do realize that Jobs had zero to do with the building of the first couple Apple personal computers?

  112. Michael says:

    I said wage inflation in my post. Maybe you don’t understand inflation, but inflation will always include wage inflation. Prices rise first, eventually followed by, wait for it….a rise in the consumer’s wage to pay for the now more expensive product. The consumer is boss. You can’t raise the price of everything and leave out the consumer, otherwise you will have deflation, meaning a drop in prices due to the consumer not having enough money to maintain current pricing. If the consumer has less spending power, the price must come down. This is what clotlover was referring to about deflationary warning signs. The money is tied up at the top, and with no wage increases, deflation in inevitable. Everyone knows the fed hates deflation, so what are they going to do to spur growth in the consumer? Start a war or tax the wealthy into spending?

    joyce says:
    April 22, 2014 at 7:42 pm
    Who gives a sh*t about inflation eating away at your debt if your wages and/or assets are not at least keeping pace?

  113. Michael says:

    They were creating the computer based on the need to make life easier for the consumer. They knew if they built a device that makes life easier for the consumer, it will sell. That’s what drives every inventor, trying to fill the needs of the consumer.

    Jobs stole the idea from Xerox, and bill gates stole it from apple. I looked at jobs as an innovator for his vision in drastically changing the life of the consumer with the iPhone. Innovation is always a team game IMO. Always multiple players involved. Unfortunately, history only crowns the leaders of the teams, the teams are always left out.

    joyce says:
    April 22, 2014 at 8:19 pm
    So creating a brand new market with revolutionary type of product/service… all due to the consumer who never knew he needed it in the first place.

    F your boy Jobs (the only innovater of the past 100 years by your own words), he did nothing… all due to joe public consumer. And that reminds me, you disqualified everyone else’s choice of other ‘innovators’ cause that was more of a team effort you said. You do realize that Jobs had zero to do with the building of the first couple Apple personal computers?

  114. Essex says:

    I need that sweet NVS stock to make a nice run to 90 and stay there for about 9 months.

  115. joyce (94)-

    I’m really curious as to what two books this geezer chose to entertain himself while he lay in wait. Prolly Mein Kampf and H#stler.

  116. Somebody please club Michael over the head with the concepts of savings and wealth. If he’s really the affluent, educated guy he fronts as here, he’s a shining example to TPTB of the success of their efforts to render even the most perceptive among us completely brain dead.

    Just another brain-dead Keynesian consumption monkey.

  117. Just buy lots of shit that eventually becomes landfill, pick a team- red or blue- and stare at your cathode ray box until your eyes bleed and your brain turns into rancid mayonnaise.

  118. joyce says:

    Cost of housing way up (then down, now back up), cost of education up up, cost of healthcare up up up up, stock market up… wages of the average person, down. It’s been about 15 years, still waiting.

    118.Michael says:
    April 22, 2014 at 8:21 pm
    I said wage inflation in my post. Maybe you don’t understand inflation, but inflation will always include wage inflation. Prices rise first, eventually followed by, wait for it….a rise in the consumer’s wage to pay for the now more expensive product. The consumer is boss. You can’t raise the price of everything and leave out the consumer, otherwise you will have deflation, meaning a drop in prices due to the consumer not having enough money to maintain current pricing. If the consumer has less spending power, the price must come down. This is what clotlover was referring to about deflationary warning signs. The money is tied up at the top, and with no wage increases, deflation in inevitable. Everyone knows the fed hates deflation, so what are they going to do to spur growth in the consumer? Start a war or tax the wealthy into spending?

  119. Comrade Nom DePlume says:

    [107] anon

    “you are really fukcing pissing me off, dude.”

    As if it really needed to be said, I’m gonna say it anyway:
    Now you know how the rest of us feel.

  120. Hey joyce, no more bubbles when this bitch finally pops:

    “Loan forgiveness creates incentives for students to borrow too much to attend college, potentially contributing to rising college prices for everyone,” is a study’s warning over government plans that allow students to rack up big debts and then forgive the unpaid balance after a set period. As WSJ reports, enrollment in student debt forgiveness plans have surged nearly 40% in just six months, to include at least 1.3 million Americans owing around $72 billion. The administration is looking to cap debt eligible for forgiveness, as President Obama’s revamped Pay As You Earn scheme has seen applications soar and is estimated to cost taxpayers $14bn a year. The ‘popularity’ of the student loan bailout plan surged after Obama promoted it in 2012, and now the administration must back-track as costs have massively outpaced government predictions.”

    http://www.zerohedge.com/news/2014-04-22/flood-students-demanding-loan-forgiveness-forces-administration-backtrack

  121. joyce says:

    1) By creating a new or better product that makes life easier for someone, they create demand for their product. CREATE demand
    2) Steve W invented/built the first two apple computers. Apple bought, not stole, the software/user interface from Xerox… which Microsoft also bought. I guess when someone willingly sells something to another, that’s a form of theft.
    3) So now innovation is always a team game, anything you want to contradict yourself on real quick?

    119.Michael says:
    April 22, 2014 at 8:37 pm
    They were creating the computer based on the need to make life easier for the consumer. They knew if they built a device that makes life easier for the consumer, it will sell. That’s what drives every inventor, trying to fill the needs of the consumer.

    Jobs stole the idea from Xerox, and bill gates stole it from apple. I looked at jobs as an innovator for his vision in drastically changing the life of the consumer with the iPhone. Innovation is always a team game IMO. Always multiple players involved. Unfortunately, history only crowns the leaders of the teams, the teams are always left out.

  122. Comrade Nom DePlume says:

    [126] clot

    ” President Obama’s revamped Pay As You Earn scheme has seen applications soar and is estimated to cost taxpayers $14bn a year. The ‘popularity’ of the student loan bailout plan surged after Obama promoted it in 2012, and now the administration must back-track as costs have massively outpaced government predictions.”

    I’m shocked to discover mispredictions going on here.

  123. joyce says:

    126
    Couple that with the story I read earlier today about the student loan co-signers causing the loans to default (bankruptcy, death, or other credit worthy-ness destroying event by co-signer) while the student or former student is still making payments on time … that should make for some fun.

    http://money.cnn.com/2014/04/22/pf/college/student-loan-co-signers/

  124. Comrade Nom DePlume says:

    [128] redux

    I think when you go behind the curtain, you will find it was rapidly becoming a bailout for Graydon and Ellery. The children of the wealthy don’t go into six figure jobs right out of school. Often, they take the same poor paying jobs in corp America that everyone else takes (only the skids were greased for them and in some cases jobs were created for them).

    Soooo, it would only be natural for Daddy’s tax advisor to clue them in to this benefit that doesn’t examine potential inheritances for eligibility. And voila, they enroll and have more cash for hookers and blow, and we get stuck with the “forgiveness”.

    How do I know the wealthy are gaming it? First, it was what I planned to do. Second, I know they do this. I recall a convo with a partner at my last firm who was asking me the rules for getting his daughter deemed independent for financial aid purposes. BTW, he was the former head of the Brig’s Democratic committee, loved Obama and hated any politician from the other side of the aisle.

    Yeah, nationalizing the student loan industry has been a real blessing.

  125. joyce says:

    The IRS was in damage control mode Tuesday after an audit revealed that it paid bonuses to employees who were in trouble over tax issues themselves.
    http://money.cnn.com/2014/04/22/pf/taxes/irs-bonuses/index.html?iid=HP_LN

    for tomorrow, I’m sure…

  126. joyce says:

    More than $2.8 million, plus thousands of hours of paid time-off, were doled out over two years to employees who had recently been disciplined for various types of misconduct, according to an audit report. About $1 million of that money was given as bonuses to 1,100 employees who were in trouble over tax related issues.

    The tax problems include willful understatement of tax liabilities, late payments and under-reporting of income, according to the report issued by the Treasury Inspector General for Tax Administration.

    The report says that providing awards to employees who fail to pay taxes “appears to create a conflict with the IRS’s charge of ensuring the integrity of the system of tax administration.”

    Although federal regulations do not require the IRS to consider tax compliance of employees when issuing bonuses, the agency says it will change the policy, as per the audit’s suggestion.

    “We strive to protect the integrity of the tax system, and we recognize the need for proper personnel policies,” the agency said in a statement.

    Over the past four years, the IRS says it has not issued awards to any executives who were subject to disciplinary action. It is now considering extending that policy to all employees.

    The audit report found that the IRS did reduce overall spending on bonuses, fully complying with new federal guidance issued in fiscal year 2011.

  127. seo plugin says:

    Hello Web Admin, I noticed that your On-Page SEO is is missing a few factors, for one you do not use all three H tags in your post, also I notice that you are not using bold or italics properly in your SEO optimization. On-Page SEO means more now than ever since the new Google update: Panda. No longer are backlinks and simply pinging or sending out a RSS feed the key to getting Google PageRank or Alexa Rankings, You now NEED On-Page SEO. So what is good On-Page SEO?First your keyword must appear in the title.Then it must appear in the URL.You have to optimize your keyword and make sure that it has a nice keyword density of 3-5% in your article with relevant LSI (Latent Semantic Indexing). Then you should spread all H1,H2,H3 tags in your article.Your Keyword should appear in your first paragraph and in the last sentence of the page. You should have relevant usage of Bold and italics of your keyword.There should be one internal link to a page on your blog and you should have one image with an alt tag that has your keyword….wait there’s even more Now what if i told you there was a simple WordPress plugin that does all the On-Page SEO, and automatically for you? That’s right AUTOMATICALLY, just watch this 4minute video for more information at. Seo Plugin

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