Home prices take a breather

From the NYT:

Home Prices Start Easing, to the Relief of Experts

A steep gain in home prices in many markets that helped lift millions of Americans out of the red on their mortgages is now markedly slowing, with new data from the Standard & Poor’s/Case-Shiller national home price index on Tuesday showing that the annual growth in prices had eased in March to 10.3 percent, from the previous year’s increase of 11.4 percent.

But analysts said that the softening of price gains, rather than a worrisome trend, may actually be welcome news. Double-digit increases cannot go on forever, and many economists are using words like “sustainable” and “stable” to describe the slowdown, saying the market is becoming healthier.

Foreclosures make up a smaller percentage of sales, and the higher prices have caused investors to back off, leaving the bigger question of whether housing is affordable and mortgages are accessible to average families that want to buy. First-time home buyers still make up less than 30 percent of the market, according to the National Association of Realtors, while the number of all-cash buyers — not just investors, but older people who are downsizing after the sale of a larger home — has remained elevated.

Of the 20 cities that Case-Shiller tracks individually, all had double-digit price increases in that time period except Boston, Charlotte, Cleveland, Denver, New York and Washington, which had single-digit increases. In some cases, the cities hit hardest in the housing bust had the biggest gains. Las Vegas, where home prices rose 21 percent, led the list. Cities where demand has accelerated and housing supply is sharply limited by geography and other factors, like San Francisco, also posted large gains. Prices soared there by 21 percent, according to the measure.

Eighteen cities are still below their peak prices during the housing bubble; only two — Denver and Dallas — have returned to the previous levels.

But analysts say that the prices at the height of a bubble should not be considered a benchmark. Compared with March 2004, a decade ago, home prices in 14 of 20 cities are now higher. That trend was good news for the four million families who regained some equity in their homes last year, according to CoreLogic. But for the 6.5 million families who still owe more than their home is worth, many of whom bought or refinanced at the height of the market, the current slowdown is likely to delay the point at which their homes will be above water.

Month-to-month price changes are much more volatile than year-over-year changes, so economists were skeptical when Case-Shiller showed a much larger-than-expected gain between February and March. Nineteen of 20 cities showed higher prices, while prices in New York actually contracted 0.3 percent. “The Case-Shiller numbers contradict all the other housing market numbers we follow, which show activity and home prices slowing or falling outright since mortgage rates surged last spring,” Ian Shepherdson of Pantheon Macroeconomics wrote.

Analysts at Capital Economics also forecast positive effects from the slowdown.

“Slowing house price appreciation should not be seen as a sign that the housing recovery is hitting the buffers. In fact, it will have the opposite effect,” they wrote. “A slowdown in price gains closer to the rate of income growth will prevent housing becoming overvalued, and therefore support a further rise in home sales and housing starts.”

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

108 Responses to Home prices take a breather

  1. grim says:

    From the Record:

    Home prices rise in region, nation

    Home values dipped from February to March in the New York metropolitan area — possibly reflecting lower demand in a harsh winter — but were still running about 6.6 percent ahead of year-ago levels, the S&P/Case-Shiller home price index reported Tuesday.

    After a dramatic boom-and-bust cycle, single-family home prices nationally and in the area are back to the levels of a decade ago — spring 2004 — and down about 20 percent from their peaks in mid-2006.

    Nationally, Case-Shiller reported, single-family home values were up about 12.4 percent from March 2013, with areas in the South and West leading the way: Los Angeles, Miami, Las Vegas, San Diego and San Francisco all posted annual increases above 15 percent.

    “The year-over-year changes suggest that prices are rising more slowly,” said David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices. “Annual price increases have slowed in the last four months, and 13 cities saw annual price changes moderate in March.”

    Case-Shiller does not measure price changes on the county level, but according to the New Jersey Association of Realtors, single-family prices rose 9.5 percent in Bergen County, to a median $427,000 in March, compared with a year earlier. In Passaic, prices rose 15.7 percent in that period to a median $296,500.

  2. Bystander says:

    That’s funny..I can only find a handful of homes by me priced at 2004 levels. Most bagholders want 10-15% more than 2006 price. That is why market is dead.

  3. Ragnar says:

    The main problem is that nobody on NJREReport can bear to live in the mean house in these counties. I’d love to see a density plot of NJ home prices. I suspect a bimodal distribution with a long tail on the right. Not a classic normal distribution of prices.

  4. Fast Eddie says:

    Case-Shiller does not measure price changes on the county level, but according to the New Jersey Association of Realtors, single-family prices rose 9.5 percent in Bergen County, to a median $427,000 in March, compared with a year earlier. In Passaic, prices rose 15.7 percent in that period to a median $296,500.

    So then we can also agree that salaries kept pace with these house increases to support the claim; along with rising gas and commuting costs, taxes and food. Right? And if that’s the case, why do I keep hearing and reading that there’s no inventory?

  5. Michael says:

    I read the following comment and decided to do my hw. Lib, you spewed nonsense that govt employees used overtime to pad their pension, and you are totally wrong. Look at the proof on the bottom. You are spewing lies in your attack against the pension system. This further backs up my belief that people buy into myths thrown around by people that want to get rid of the pension system. Be careful with all that right wing propaganda you guys swear by. People like the Koch brother’s are manipulating you. The pension provides a retirement for a worker. It’s not some golden parachute. It’s wrong to be attacking low payed worker’s retirements. Wrong in every way.

    “rev66vette
    @UnionRepublican I like the part ” promises have gotten out of hand”….Here in New Jersey that can be attributed to both sides of the coin….. (should I pay, or should I re-calculate the formula??) then there’s the note that “3/4 of Government workers also participate in social security, but their overall benefits have not been reduced accordingly”…..not so here in New Jersey where Cops Firemen, Jail guards, Sheriffs etc do not participate in SS, and if they should somehow qualify, they are only allowed to collect 40%…(Thanks to Ronnie R)…and then there’s the “Often retirees add the value of overtime, unused leave, and other benefits into the pension formula”…once again, not here in New Jersey, where it’s all calculated on base salary….and then another “More often provide automatic cost of living adjustments to increase benefits”…not any more here in New Jersey…my 94 year old Uncle who retired in 1975 is stuck at his $33,000 since that ” Biggest Governmental victory pension reform bill”….and finally, the “big incentive to retire early with the benefit of health insurance.”….well I guess that depends on where one actually is…….my town never had a buy out as such….but overall another good article that does nothing but detract from the issues.

    FOR EXAMPLE: A member with 22 years of service would receive 40% (or 22/55ths) of Final Average Salary. You receive a slightly higher percentage for each additional month of service. ‘Years of Service’ means the years and months of pension service credited to your account. It does not necessarily mean years and months of employment.”

    “‘Salary’ means the base salary on which your pension contributions are based. It does not include extra pay for overtime or money given in anticipation of your retirement. It does not include additional salary for performing temporary or extracurricular duties beyond the regular school day or regular school year.”

    http://www.state.nj.us/treasury/pensions/tpafhbk.htm

  6. Fast Eddie says:

    Bystander,

    I find myself fishing through the same houses that have been lingering, over and over. I don’t know where some of these transactions are coming from. Before the theft that occurred during the bubble years, it used to be that you traveled to a few houses with a realtor for a few weekends and made a decision on which one best-suited your needs/desires.

    I was just reading on the train this morning some of the details regarding mortgage lending rules enacted this past January. It claims that every proof of asset/income/credit history needs to be carefully documented. And even if approved, your interest rates are determined by your credit worthiness. I could only hope that this eliminates the pudgy, slow crowd.

    I agree that sellers are still expecting peak prices and I’ll drop dead where I currently live before I fund any of these fat f.ucks bailout. I suspect even a bump in rates will do nothing but keep the bagholders further entrenched in their depressed asset. But, I suppose being solvent is better than being chained to a building.

  7. grim says:

    The main problem is that nobody on NJREReport can bear to live in the mean house in these counties. I’d love to see a density plot of NJ home prices. I suspect a bimodal distribution with a long tail on the right. Not a classic normal distribution of prices.

    I’ve always said, you can’t buy a median house in NJ. In many cases it’s not even a matter of accepting the median/mean house, it’s that there are so few of them that they are really just nonexistent.

    Finding the median house puts you in 1 of 2 situations, buying the highest priced home in a poor town, or buying the prototypical “crapshack” in the good town. Either way you are looking at properties that are situated many standard deviations from these individual town means.

  8. grim says:

    The continued socioeconomic bifurcation of towns in NJ just continues to make this worse.

    Towns that were once solidly middle class are finding themselves at a crossroads of either gentrification, or decline.

  9. Michael says:

    grim says:
    May 28, 2014 at 9:37 am
    The main problem is that nobody on NJREReport can bear to live in the mean house in these counties. I’d love to see a density plot of NJ home prices. I suspect a bimodal distribution with a long tail on the right. Not a classic normal distribution of prices.

    I’ve always said, you can’t buy a median house in NJ. In many cases it’s not even a matter of accepting the median/mean house, it’s that there are so few of them that they are really just nonexistent.

    Finding the median house puts you in 1 of 2 situations, buying the highest priced home in a poor town, or buying the prototypical “crapshack” in the good town. Either way you are looking at properties that are situated many standard deviations from the mean.
    Great analysis!!

    grim says:
    May 28, 2014 at 9:39 am
    The continued socioeconomic bifurcation of towns in NJ just continues to make this worse.

    Towns that were once solidly middle class are finding themselves at a crossroads of either gentrification, or decline.

  10. Michael says:

    Great analysis!

    grim says:
    May 28, 2014 at 9:37 am
    The main problem is that nobody on NJREReport can bear to live in the mean house in these counties. I’d love to see a density plot of NJ home prices. I suspect a bimodal distribution with a long tail on the right. Not a classic normal distribution of prices.

    I’ve always said, you can’t buy a median house in NJ. In many cases it’s not even a matter of accepting the median/mean house, it’s that there are so few of them that they are really just nonexistent.

    Finding the median house puts you in 1 of 2 situations, buying the highest priced home in a poor town, or buying the prototypical “crapshack” in the good town. Either way you are looking at properties that are situated many standard deviations from the mean.

    grim says:
    May 28, 2014 at 9:39 am
    The continued socioeconomic bifurcation of towns in NJ just continues to make this worse.

    Towns that were once solidly middle class are finding themselves at a crossroads of either gentrification, or decline.

  11. joyce says:

    [Posted by joe319 on Tuesday, May 27, 2014 08:49 PM]
    As for what I paid each month, it came to roughly $24 (toward my union). I can tell you that that is one investment that has really paid off for me while I was working and now, in my retirement. The pension benefits they negotiated for us had me become eligible to retire at age 48 at which time I decided to stay and enter the DROP for 4 years. I have a pension in which I am set for the rest of my life in which I don’t have to work if I don’t wish to and I make more money from my pension, then the most senior officer does on the local department.
    [Posted by joe319 on Wednesday, May 28, 2014 05:24 AM]
    **$35,000 a year in retirement?** I’m double that at a minimum. We retirees also receive a supplemental check each year if the stock market has a good year. The past 2 years, our pension stocks did very, very well and they are looking pretty good so far this year. My health insurance through Blue Cross/Blue Shield is also paid at 100 percent for retirees. We have our own pension plan and the city has reps on the board but we have more police officers on the board than they have reps.

  12. jj says:

    Tapering should result in the end of quantitative easing in the last quarter of 2014, and Federal Reserve Bank of Atlanta President and Chief Executive Officer Dennis Lockhart said he is “comfortable” with the first rate hike, or liftoff in the last half of 2015

  13. joyce says:

    [Posted by joe319 on Wednesday, May 28, 2014 05:35 AM]
    Our union has also negotiated other great benefits over the years. Our pension was based on our highest 3 years and included up to 400 hours overtime. Most other departments went by their base salary which I found for many, a 20 year vet made the same as someone topped out after 7-8 years for most. We have a 5 percent longevity step at 10 and 15 years and 2.5 percent after 20. We also received 2.5 percent for working afternoons and 5 for mids. We also have things like 5 percent assignment pay. They got us take home cars which really saved me on gas and the need for a second family car.

  14. Fast Eddie says:

    Towns that were once solidly middle class are finding themselves at a crossroads of either gentrification, or decline.

    Other than the coast from the GWB down to Jersey City, I would say “decline” is more probable.

  15. joyce says:

    Where have I heard that before… probably somewhere around 2010/2011, if not sooner

    jj says:
    May 28, 2014 at 9:55 am
    Tapering should result in the end of quantitative easing in the last quarter of 2014, and Federal Reserve Bank of Atlanta President and Chief Executive Officer Dennis Lockhart said he is “comfortable” with the first rate hike, or liftoff in the last half of 2015

  16. Fast Eddie says:

    jj/Chifi,

    Should we sell in May and go away or let it ride? Wadda ya think?

  17. jj says:

    Stocks I say buy the dips as we are not in for any crash soon. Bonds and I am a huge bond bull but we are getting near a correction of some sorts. The yields are getting to point where it is better to be a borrower than a saver and that means companies and local govt rush bonds to market to sell and any unexpected bad news sparks a sell off.

    I really really wanted to buy some bonds this week and absolutely nothing. Junk bonds at 3 percent, long term munis at 3 percent and investment grade at 1-2% I just cant do it the yield is way too low.

    16.Fast Eddie says:
    May 28, 2014 at 9:59 am
    jj/Chifi,

    Should we sell in May and go away or let it ride? Wadda ya think?

  18. Michael says:

    Is this guy real? Or I guess police are the fat cats on govt payroll who get special treatment. I posted this earlier directly from the state website. It clearly goes against what this guy is saying.

    “‘Salary’ means the base salary on which your pension contributions are based. It does not include extra pay for overtime or money given in anticipation of your retirement. It does not include additional salary for performing temporary or extracurricular duties beyond the regular school day or regular school year.”

    http://www.state.nj.us/treasury/pensions/tpafhbk.htm

    joyce says:
    May 28, 2014 at 9:57 am
    [Posted by joe319 on Wednesday, May 28, 2014 05:35 AM]
    Our union has also negotiated other great benefits over the years. Our pension was based on our highest 3 years and included up to 400 hours overtime. Most other departments went by their base salary which I found for many, a 20 year vet made the same as someone topped out after 7-8 years for most. We have a 5 percent longevity step at 10 and 15 years and 2.5 percent after 20. We also received 2.5 percent for working afternoons and 5 for mids. We also have things like 5 percent assignment pay. They got us take home cars which really saved me on gas and the need for a second family car.

  19. 1987 Condo says:

    “Uniformed Services” is where the great pensions are. A 20 year cop will get an $80,000 a year pension, a 20 year teacher closer to $20,000.

  20. joyce says:

    maybe “school day” and “school year” could be some kind of indicator for you

  21. joyce says:

    Is this guy real?

    “rev66vette
    @UnionRepublican I like the part ” promises have gotten out of hand”….Here in New Jersey that can be attributed to both sides of the coin….. (should I pay, or should I re-calculate the formula??) then

  22. joyce says:

    Is this guy real?

    Michael says:

  23. Michael says:

    18- Again, I don’t know if this guy is real, or what he is saying is true, but the avg pension is 35,000, and this guy is at a minimum double that. Police are not your typical govt employee. They have it made. No idea why people throw teachers and govt employees in the same boat at cops and politicians.

    [Posted by joe319 on Wednesday, May 28, 2014 05:24 AM]
    **$35,000 a year in retirement?** I’m double that at a minimum. We retirees also receive a supplemental check each year if the stock market has a good year. The past 2 years, our pension stocks did very, very well and they are looking pretty good so far this year. My health insurance through Blue Cross/Blue Shield is also paid at 100 percent for retirees. We have our own pension plan and the city has reps on the board but we have more police officers on the board than they have reps

  24. chicagofinance says:

    Angelou < Vigoda

  25. grim says:

    How about tying pension payments to the differential cost of living.

    If you leave to move to a lower cost state, the pension payment should be cut accordingly.

    No?

  26. chicagofinance says:

    Why would asking prices of houses ever conform to a normal distribution? Especially in this kind of market?

    Ragnar says:
    May 28, 2014 at 9:16 am
    The main problem is that nobody on NJREReport can bear to live in the mean house in these counties. I’d love to see a density plot of NJ home prices. I suspect a bimodal distribution with a long tail on the right. Not a classic normal distribution of prices.

  27. Libturd in Union says:

    Here is a better question Michael. Why do public workers even have pensions?

  28. chicagofinance says:

    Just a case in point about pensions…..my wife worked as a teacher in 1997-1998. She cashed out that benefit many years ago. She is eligible to buy back that year of eligibility at her current salary, which is something along the lines of $19,000 prorated, which is significantly lower than her salary in 1997-1998. So essentially she can arbitrage on the buy-back, but that doesn’t even account for the fact that the eligibility year might eventually be involved in a calculation that will refer to a $90K-$110K salary in today’s dollars. Also, in terms of medical benefits, she is paying roughly $800 prorated per year for something that would cost about $6K-$7K/year on the open market. Just pointing this out…….

  29. chicagofinance says:

    Eddie…..I really don’t have an opinion on sell in May and go away, because you have to be right twice….on the cash out and the buy in….

    That said, if you cash out, do not sit on the cash…..it is a complete sinkhole….allocate it to something……

    Personally, find something you admire and wait for it to have a hiccup and buy into it……I don’t think you take a “dry powder” approach, but rather, what is the first thing I liquidate if I want to reallocate……

  30. Libturd in Union says:

    Agreed, teachers have different benefits than cops and firefighters. Teachers get the raw end of the oversized deal. Perhaps their unions might have gotten the better pension plan if they didn’t always align themselves with the Blue team. The cops and firefighters align with both.

    Then again, teachers only work about 180 days of a 365 day year and their tenure, once obtained, makes the job awfully cushy and secure. Sure they have to grade some papers at night, but so do I. The healthcare benefit alone makes the job extremely valuable, especially if their partner works in a better paying job in the private sector.

  31. Fast Eddie says:

    ChiFi,

    That said, if you cash out, do not sit on the cash…..it is a complete sinkhole….allocate it to something……

    That’s my dilemma; if I could get a steady 3% or 4% or thereabouts, I would take a little off the table and re-balance. I just don’t know what or where at this point.

  32. Libturd in Union says:

    Gary,

    Short Tesla!

    Or you could do the Anon/Michael strategy. Write a check to the City of Irvington Public Schools.

  33. Street Justice says:

    I’d go farther than that. If they move out of state and want to collect their state pension, we should tax the living krap out of it or just not pay it at all.

    grim says:
    May 28, 2014 at 10:20 am
    How about tying pension payments to the differential cost of living.

    If you leave to move to a lower cost state, the pension payment should be cut accordingly.

    No?

  34. Fast Eddie says:

    Libturd,

    Liberals don’t write checks, they just cash them.

  35. Fast Eddie says:

    Fair Lawn: a town that used to be solid middle class on the west and a little more haughty on the east. It’s quickly becoming Garfield. Here’s a bagholder or dreamer asking $569,900 for this:

    http://www.trulia.com/property/3154626488-51-Garwood-Rd-Fair-Lawn-NJ-07410

  36. Street Justice says:

    Surprise!

    Pelosi: ‘Single-Payer’ the Best Fix For Obamacare
    May 28, 2014 – 10:23 AM

    http://www.cnsnews.com/mrctv-blog/curtis-kalin/pelosi-single-payer-best-fix-obamacare#.U4X6KKrg7_4.twitter

  37. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [36] street

    Not really. We’ve been discussing that here for over three years now.

    But she F’ed up. That isn’t supposed to come out until AFTER the mid-terms.

  38. Street Justice says:

    It was a sarcastic surprise.

  39. 30 year realtor says:

    Fair Lawn becoming Garfield? Really? I think not. Fair Lawn is rock solid and offers and outstanding school system/housing price value.

    That listing you posted is seriously over priced!

  40. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [38] street

    Oh, I figured. But I had to build on something.

    Seems like the far left cannot wait for the midterms.

    http://www.dailykos.com/story/2014/05/01/1296176/-Yes-The-Affordable-Care-Act-Is-The-Path-To-Single-Payer-Universal-Healthcare

    I love the appeal to “morality” as the basis for single payer. Whose morality? And how far does that reach?

    This is just a part of the iceberg that we can see. Again, I am fearing a little more every day that Clot is absolutely correct. And before this decade is out, we will be in a low-intensity shooting war.

  41. Fast Eddie says:

    30 year realtor,

    I’ve had relatives there since I was a kid. It’s starting to “fray” around the edges. I love the town but it’s being “infiltrated” in various aspects.

  42. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [41] eddie

    Place your bets!!!
    I’m taking the 12:30 square for when anon accuses you of racism.

  43. Fast Eddie says:

    more…

    Drive down Broadway around the Elmwood Park border and tell me it doesn’t a warm and cozy Paterson feel to it. :)

  44. Comrade Nom Deplume, a.k.a. Captain Justice says:

    More on story I commented on previously, on Canada shutting off its immigrant pipeline. I said there had to be a reason, and after reading this and other accounts, I have to conclude that this reason is good old fashioned racism:

    http://www.theglobeandmail.com/news/world/rich-chinese-angry-over-cancellation-of-canadian-immigrant-program/article17269390/

    It seems that nearly all of the “investor visa” applicants were chinese. 70-75% depending on who you hear, and nearly all would settle in BC, turning Vancouver into Little Beijing. The canadians concluded that this asian influx would not really benefit the country so they ended the program.

  45. jj says:

    I think cops are wildly overpaid for what little they do. It is also a joke how easy it is to be one. I took the test way back when as a back up. I passed and got called to be a Suffolk State trooper. I actually agreed to take job and has a spot at the academy. I only agreed as it was several months and god forbid I would have got laid off as Wall Street was very rocky in 1991. I could have retired in 2011. Suffok Troopers only work three or four days a week. Something like 10-12 work days. They get six weeks vacation to start and ten holidays and even have sick days.

    Do the math they barely work.

  46. Comrade Nom Deplume, a.k.a. Captain Justice says:

    Speaking of pensions, I believe this board speculated that Obama would try to bail out the Detroit pensions even though he affirmatively promised not to do so. But the entire world knew there would be some sort of bailout so it would have to be stealthy.

    Voila!

    http://www.freep.com/article/20140415/NEWS/304150147/Obama-Michigan-talks-free-up-100M-aid-Detroit-pension-deal

    Can’t imagine how I missed this on CNN/MSNBC/NYT.

  47. Juice Box says:

    JJ – just another reason to avoid Long island.

    The Kardashians take the Hamptons now filming and have opened a pop up store.

    Some are calling it the Jersey Shorification of the Hamptons.

  48. Michael says:

    Sad, but fair lawn is a dying breed. Solid middle class towns in nj are going the way of the dinosaur. Every time we take a good job and send it overseas, or eliminate it, we put more pressure on towns like Fair Lawn. We have to stop attacking workers, only when things get better for the avg worker, will things get better for America. That’s the truth. America is only as strong as its’ worker class. That’s what made America different from anywhere else back in the day, a worker could get ahead in this country. The countries these immigrants were leaving had no opportunities for workers, the classes were established and controlled by the elites. It’s sad, but we have now become no different than the countries these immigrants were leaving. The European immigrants of the past would have never came to America if it looked the way it does today.

    Fast Eddie says:
    May 28, 2014 at 11:29 am
    30 year realtor,

    I’ve had relatives there since I was a kid. It’s starting to “fray” around the edges. I love the town but it’s being “infiltrated” in various aspects.

  49. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [48] michael

    The unnamed people/organizations/”sides” that you claim are attacking american workers, aren’t.

    They are running from them.

    Now, if you take the position that refusing to hire here, offshoring jobs, or replacing workers with technology, all because the american worker is (a) not qualified, (b) too expensive, or (c) both, is an “attack”, then I am “attacking” the federal government by trying to keep my tax bill down.

    Wait, you already think that, don’t you? Never mind.

  50. Ragnar says:

    Comrade, the morality of altruism is what drives both political parties. The dems are aggressive and unapologetic about implementing altruism by force, while the repubs do the same but in a craven and apologetic manner.

  51. All Hype says:

    Street (36):

    Let’s have Nancy help fix the VA system before going all out on this whole single-payer system for everybody.

  52. Michael says:

    Carnegie was a man that you love and hate. You hate him for being a hypocrite. For example, he wrote numerous essays telling the barons to pay their workers a fair wage, but when it came time for him to pay his workers, he was just like the other barons.

    You love him for his kind heart, donating most of his fortune to improving society.

    I respect him for understanding the needs of a worker, just wish he acted on his own advice.

    “”I began to learn what poverty meant,” Andrew would later write. “It was burnt into my heart then that my father had to beg for work. And then and there came the resolve that I would cure that when I got to be a man.”

    An ambition for riches would mark Carnegie’s path in life. However, a belief in political egalitarianism was another ambition he inherited from his family. Andrew’s father, his grandfather Tom Morrison and his uncle Tom Jr. were all Scottish radicals who fought to do away with inherited privilege and to bring about the rights of common workers.”

    “Carnegie was unusual among the industrial captains of his day because he preached for the rights of laborers to unionize and to protect their jobs. However, Carnegie’s actions did not always match his rhetoric. Carnegie’s steel workers were often pushed to long hours and low wages. In the Homestead Strike of 1892, Carnegie threw his support behind plant manager Henry Frick, who locked out workers and hired Pinkerton thugs to intimidate strikers. Many were killed in the conflict, and it was an episode that would forever hurt Carnegie’s reputation and haunt the man.

    Still, Carnegie’s steel juggernaut was unstoppable, and by 1900 Carnegie Steel produced more of the metal than all of Great Britain. That was also the year that financier J. P. Morgan mounted a major challenge to Carnegie’s steel empire. While Carnegie believed he could beat Morgan in a battle lasting five, 10 or 15 years, the fight did not appeal to the 64-year old man eager to spend more time with his wife Louise, whom he had married in 1886, and their daughter, Margaret.

    Carnegie wrote the asking price for his steel business on a piece of paper and had one of his managers deliver the offer to Morgan. Morgan accepted without hesitation, buying the company for $480 million. “Congratulations, Mr. Carnegie,” Morgan said to Carnegie when they finalized the deal. “you are now the richest man in the world.”

    Fond of saying that “the man who dies rich dies disgraced,” Carnegie then turned his attention to giving away his fortune. He abhorred charity, and instead put his money to use helping others help themselves. That was the reason he spent much of his collected fortune on establishing over 2,500 public libraries as well as supporting institutions of higher learning. By the time Carnegie’s life was over, he gave away 350 million dollars. ”

    http://www.pbs.org/wgbh/amex/carnegie/peopleevents/pande01.html

  53. Michael says:

    I agree, it’s insane how much we pay our cops. I live in wayne, you should see how much my town pays their cops. I guess the reasoning is to pay them enough, so that they don’t take bribes and go corrupt, because the job is too lucrative to lose. I don’t know, that’s the only way I can justify cop pay.

    jj says:
    May 28, 2014 at 12:22 pm
    I think cops are wildly overpaid for what little they do. It is also a joke how easy it is to be one. I took the test way back when as a back up. I passed and got called to be a Suffolk State trooper. I actually agreed to take job and has a spot at the academy. I only agreed as it was several months and god forbid I would have got laid off as Wall Street was very rocky in 1991. I could have retired in 2011. Suffok Troopers only work three or four days a week. Something like 10-12 work days. They get six weeks vacation to start and ten holidays and even have sick days.

    Do the math they barely work.

  54. Ragnar says:

    I admire Carnegie for making money by transforming the steel industry, and dislike him for preaching that it’s a moral requirement to give it away. However, given that he valued helping other people, I admire his focus on donating toward accelerators of human capital rather than straight charity – educational support, for people with the gumption to improve their own lives via knowledge and skill enhancements, rewarding the poor and ambitious, like his young self. Similar to Ben Franklin’s approach.

  55. Marilyn says:

    Actually Eddie is right. Fair Lawn is becoming a dump. That cozy Paterson feel is also by the Pathmark and 208 area. Its crappy. Its crime is gone way up and the houses are crap!

  56. Michael says:

    It is an attack!! How are you looking at it, that you can’t see it? International corporations charge American customers more for their product, yet, they want our workers to lower pay and compete with foreign slave labor? Don’t let them sell their products here, if they don’t want to provide jobs. It’s as easy as that. It really is.

    If I was president, I would def go to tariff wars to get the u.s. back on its’ feet. We have the strongest military in the world, and our standard of living for the majority of our citizens has been going backwards? Makes no sense.

    Comrade Nom Deplume, a.k.a. Captain Justice says:
    May 28, 2014 at 12:52 pm
    [48] michael

    The unnamed people/organizations/”sides” that you claim are attacking american workers, aren’t.

    They are running from them.

    Now, if you take the position that refusing to hire here, offshoring jobs, or replacing workers with technology, all because the american worker is (a) not qualified, (b) too expensive, or (c) both, is an “attack”, then I am “attacking” the federal government by trying to keep my tax bill down.

    Wait, you already think that, don’t you? Never mind.

  57. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [56] michael

    “It is an attack!! How are you looking at it, that you can’t see it?”

    I see no indicia of an attack. There is no proactive attempt to harm the person or interests of another. There isn’t even intent to permit another to come to harm. The concept exists only in the rhetorical device employed to further your views.

    I’ve said before, the only way you succeed is to chain the slaves (in this case, the holder s of capital) to the plantation and force them to work. In modern parlance, that is protectionism and you call for it unabashedly. Another way to promote the american worker is to recreate the economic conditions in the world that existed when we were the preeminent nation. Fortunately, as you point out, we have the means to do exactly that, but I am doubting that our trading partners would appreciate being bombed back into the Stone Age.

    See, you made me fall off the wagon. Back to ignoring . . .

  58. Anon E. Moose says:

    Michael [56];

    Funny you should mention tarrif wars to Nom, because I’m here to tell you that he predicted that the US would eventually go the protectionist route years ago.

    Of course you don’t need government tarrifs or embargos to enforce your policy outcomes. All it takes is the discipline of your like-minded compatriots to eschew buying from those offending multi-nationals, or at least from buying at “inflated” US market prices compared to their foreign input costs. Sometimes this is possible with grey-market re-imported goods.

  59. Libturd in the City says:

    Just got back from a family trip to Vegas. Yes, we brought the devil spawn and Gator Jr. with us.

    Our original flight was scheduled for 6:10pm on Thursday because we don’t like to pull Gator Jr. out of too much school. On the bright side, the trip ended up being awesome (saw shows, ate at Rao’s, Eiffel Tower, Border Grill, Payard, Roberto’s Tacos, toured downtown, washed bubble gum off of our rental car seats, saw the Shark Reef at MB, swam in awesome pools, lost a video poker tournament, took limo to and from airport, etc.). Plus I won around 7K after all expenses. Up well over 25K on the year gambling. Eat that (house).

    This is why United Airlines should be avoided at all cost. United could make Spirit look like Virgin Upper Class. Keep in mind, this is our second vacation where the incompetence of their airline cost us a day of our vacation.

    Here is how our vacation started on Thursday of last week.

    4:20pm – Arrived at airport.
    5:20pm – Flight delayed.
    7:30pm – Flight delayed again.
    9pm – Flight delayed again.
    10pm – Kicked out of United Club (closed) and went to gate.
    11:00pm – Gate agents asked for 40 volunteers to rebook as plane that arrived is not large enough to fit all passengers.
    11:30pm – Boarding started.
    12:00 – Flight was cancelled due to pressurization issue. Gate agents promised hotel and meals as compensation and a rebook on morning flight at 11:15am on 5/23/2014.
    12:15 – Libturd provides standing ovation to the gate agents (who are now joined by two Port Authority cops at this time) and loudly proclaims, “United is the worst airline ever! Bring back Continental.”
    12:45am – After 45-minute wait on Premier Access line at Customer Care Center, was told hotel and meals were not being provided, even though we claimed the gate agent said they were.
    1:00am – Returned to gate where line was still large and was told the Customer Care Center was wrong and to return to Customer Care Center and they would call them.
    1:00am – Returned to Customer Care Center and they had not been called. Customer Care Center called the gate and finally issued us vouchers for the Edison Hotel. Had to beg Customer Care Center representative for care bag, even though our luggage could not easily be retrieved.
    1:15am – Took bus over to P4 for lodging shuttle and was told wait would be 12 minutes from red coat.
    1:45am – Called Edison Hotel and was told it would be a 45 minute wait for the shuttle to arrive, plus a 30 minute ride to the hotel where we would still need to check in.
    2:00am – Returned to terminal by bus to obtain shuttle to off airport parking facility and drove home.
    2:45am – Arrived home.

  60. Bystander says:

    Funny that I have it the trifecta of “sellers” this spring:
    – the 73 year old corpse who has no mortgage but still clinging to his belief that his rotted asbestos stack should sell for bubble era price of 550k.
    -the 60 year olds who inherited deceased parents home, tried to sell at crazy price.through MLS but now FSBO. They won’t accept less than 500k even though place needs tons of work. Continue to have open house every weekend.
    -The guy who has decent home bought in 2006 and now wants a bailout from sucker. Listing is 15% overpriced easily

    These are today’s “sellers” or grubbers really

  61. jj says:

    Hamptons, Brooklyn and Manhattan is all you need to know about Real Estate in last 20 years.

    47.Juice Box says:
    May 28, 2014 at 12:26 pm
    JJ – just another reason to avoid Long island.

    The Kardashians take the Hamptons now filming and have opened a pop up store.

    Some are calling it the Jersey Shorification of the Hamptons.

  62. Fast Eddie says:

    Marilyn,

    Where have you been? What was that kid’s name you used to use? “Not my smoochie!” Do I have it correctly? I laughed so hard when you posted that a long time ago. Am I using the right name? :)

  63. Fast Eddie says:

    Bystander [60],

    You nailed it. I’ll die where I am before I give into these fat, f.ucking, muppet sl0bs.

  64. Randy says:

    Stu which video poker games do you find to be best bet? Single joker? Jacks or better? 7k up just from VP or were you playing blackjack etc also?

    Yer brave taking kids to LV!

  65. Michael says:

    Ok, maybe it’s not an intentional attack, but it is an attack none the less. Taking away someone’s job that they use to survive, and sending it to another country to create higher profits is an attack. If they lowered the prices, to reflect the drop in labor costs, maybe it wouldn’t be as much of an attack. Getting rid of the job, and forcing this individual to survive in an overpriced goods market is wrong. How long can we continue on this path before people can’t afford to buy anything, and our economy then crumbles?

    It’s funny, we switched from union labor to slave labor, to make our products. What happened to the price? Never ever reflected the slave labor savings. Products have only gone up in price and now are made like sh!t. Lucky us.

    Funny, before the idea of off-shoring became in vogue, how did these companies survive without slave labor? That’s the question people should be asking if they are looking for a real answer, or they can keep believing the companies can’t afford to pay their workers a decent wage.

    Comrade Nom Deplume, a.k.a. Captain Justice says:
    May 28, 2014 at 1:54 pm
    [56] michael

    “It is an attack!! How are you looking at it, that you can’t see it?”

    I see no indicia of an attack. There is no proactive attempt to harm the person or interests of another. There isn’t even intent to permit another to come to harm. The concept exists only in the rhetorical device employed to further your views.

    I’ve said before, the only way you succeed is to chain the slaves (in this case, the holder s of capital) to the plantation and force them to work. In modern parlance, that is protectionism and you call for it unabashedly. Another way to promote the american worker is to recreate the economic conditions in the world that existed when we were the preeminent nation. Fortunately, as you point out, we have the means to do exactly that, but I am doubting that our trading partners would appreciate being bombed back into the Stone Age.

    See, you made me fall off the wagon. Back to ignoring . . .

  66. Bystander says:

    Fast,

    Here is my favorite (and I see this constantly) – sellers who highlight how recent stuff was done in their listing..but then owned the home after work was complete. See my third example above. Guy talks about newer roof, windows, HWH completed in 2006. He bought at end of 2006 but he wants to use it to justify higher price. Pure moron hunting..

  67. Ragnar says:

    Piketty now under scrutiny.
    Much like the global warming “hockey stick” chart featured in Al Gore’s movie and various other propaganda, apparently Piketty believes massaging the data is ok as long as it’s for a good (i.e. leftist, redistributionist) cause.
    http://blogs.ft.com/money-supply/2014/05/23/data-problems-with-capital-in-the-21st-century/

    As for me, I’m fine with income inequality as long as it’s the consequence of justice (i.e. effort, value creation rewarded, while sloth and ignorance is not).

  68. Michael says:

    Don’t you think the creation of all these new markets should make a big difference today? Half of the world was a third world nation after wwII, today there are hardly any 3rd world nations left on this planet. Shouldn’t this have some kind of effect? Way more markets to participate in. How many markets were there in 1945?

    “I’ve said before, the only way you succeed is to chain the slaves (in this case, the holder s of capital) to the plantation and force them to work. In modern parlance, that is protectionism and you call for it unabashedly. Another way to promote the american worker is to recreate the economic conditions in the world that existed when we were the preeminent nation. Fortunately, as you point out, we have the means to do exactly that, but I am doubting that our trading partners would appreciate being bombed back into the Stone Age.”

  69. Michael says:

    Dude, I would love to see you start out with nothing, living in newark, and then take your pig position. You obviously need a wake up call to bring you back to reality. Of course you are ok with inequality, you made a 1% income this year. Only fitting that your position reflects your philosophy.

    Obviously, wealth is not based on justice today. Keep dreaming. Corruption feeds inequality today.

    “As for me, I’m fine with income inequality as long as it’s the consequence of justice (i.e. effort, value creation rewarded, while sloth and ignorance is not).”

  70. joyce says:

    Govt’s create grey and black markets. They do not spring up for no reason. I believe goods should be able to be freely re-imported. Abritrage seems okay for the capital markets, why not all the markets?

    58.Anon E. Moose says:
    May 28, 2014 at 1:54 pm

    Sometimes this is possible with grey-market re-imported goods.

  71. anon (the good one) says:

    @MMFlint:
    “In a world so rife with vulgarity, with brutality and violence, love exists. I’m grateful to know that it exists.”
    – Maya Angelou

  72. Michael says:

    Nom, if that worker in India had to pay the same costs for products as the American worker did, that Indian worker would be asking for the same amount as the american worker. Why? Because that’s the amount of money it takes to survive in America. The american worker is expensive, not out of greed, but out of the necessity to pay for expensive housing, healthcare, and products. You guys are really out of touch with economics. The reason the American needs to be payed so much, is because our elite charge us an arm and a leg to survive. Why you people can’t see this, I don’t know. It’s wrong what corporations are doing to the american worker. Wrong in every way possible.

    “Now, if you take the position that refusing to hire here, off-shoring jobs, or replacing workers with technology, all because the american worker is (a) not qualified, (b) too expensive, or (c) both, is an “attack”, then I am “attacking” the federal government by trying to keep my tax bill down.”

  73. Michael says:

    this filter blows

  74. Fast Eddie says:

    Michael,

    Dude, I would love to see you start out with nothing, living in newark, and then take your pig position.

    Our parents and grandparents started out with nothing in cities like Newark and worked endlessly to guide their children to a better life. Imagine that. When I got married, I went to work the day after the wedding because we had about $250 in the bank. No honeymoon vacations. Imagine that. You get the picture? Your grandma gave you a start on your so-called real estate empire. I’d like to see you in Newark starting with nothing. The first thing I would do is get the f.uck out of Newark.

  75. Street Justice says:

    Why don’t progressives want to cut taxes for middle-class families?
    James Pethokoukis | May 28, 2014, 1:37 pm

    Look, I understand the value of a shock headline, but this one from Salon is ridiculous: “The right’s new horror show: What reform conservatives are really peddling: Forget the talk about modernizing conservatism and making it less nutty. The future’s more dangerous than you think.”

    And the actual piece from writer Matt Bruenig is no better. The “horror show” referred to is the reform conservative agenda, as outlined in the new book “Room to Grow.” What really seems to bug left-wing blogger Bruenig is the idea of a new child tax credit for parents. Here is an example, from “Room to Grow” of what it might look like:

    A recent tax reform proposal by Senator Mike Lee (R., Utah) would take a large step in this direction. He would keep the current $1,000 child credit and the personal exemption for children, and add a new credit of $2,500 available to all taxpayers with kids, with no phaseout of the sort that applies to the current credit. The new credit could be used to reduce income-tax and payroll-tax liabilities; it couldn’t be used to increase refunds for those who have already used other credits (like the earned income credit) to reduce their tax bill to zero.

    Monstrous, I know, Anyway, Bruenig really doesn’t seem to understand the plan, particularly its payroll tax applicability. He thinks it’s a gift to rich and upper-middle class parents that doesn’t much help lower-income or working class families. NRO’s Patrick Brennan offers a rebuttal. And here is what the idea’s author, Bob Stein, emailed me:

    1.) Using a tax credit to reduce both income and payroll taxes is not a welfare payment. If it is, as the author suggests, then so is the EIC, which the author seems to favor. So which is it?

    2.) The author’s doesn’t understand how the new child credit works. It’s refundable against not only income taxes but also payroll taxes, both payroll taxes paid by the parents directly as well as those paid by an employer on the parent’s behalf. How he describes this as “not refundable at all” is beyond me.

    3.) His example is idiotic. Yes, middle-class workers making $70,000 per year who have twins would get a huge tax cut. (Good, they’re helping generate extra future revenue for Medicare and Social Security.) But a worker making $10,000 to 15,000 that has twins would still be covered by the EIC, which is even more generous than the new child credit.

    4.) The author seems to like the idea of helping poor workers with kids, which the government already does; he doesn’t like expanding parenting-related tax relief to the middle-class and above.

    Stein hits the nail on the head with that last point, I think. It really seems like the idea of helping middle-class parents by letting them keep more of their own money is abhorrent to Bruenig.

  76. WestJester says:

    re: 75
    The persistent idea that all those with a fiscally conservative bent had a leg up is one of the left’s most pernicious and self-defeating tropes.

  77. Libturd in the City says:

    My response to Randy is in mod Grim. Please release it.

  78. Theo says:

    Michael #73
    That is completely misguided. I will speak of a country I know a little about. If you go to Chile, anything that can only be purchased locally is relativeley cheap (real estate, haircut, etc.) but anything with an international market essentially costs the same or more as it does in the states, despite the fact that they make 1/4 to 1/3 of what a typical US worker makes. Things are not cheaper overseas, they are more expensive or the same as here.

    How does that play out in real life as an example? A typical “middle class” Chilean family will not have baseboard or forced hot air heat, they will use a propate space heater or wood burning stove to heat their room. At night it is hot water bottles in bed to stay warm.

    US workers are very well off by international standards and they will suffer for years to come if they cannot compete on something other than cost. Your “solutions” are not constructive and will not help the US worker.

  79. Ragnar says:

    I’m not going to say I got the worst start in the world. But it was decidedly unprivileged within the U.S. context, though I didn’t really realize it at the time. Grew up amongst poor rednecks and poor crazy people. I envied the kids who lived with the poor rednecks. I observed the choices that my peers made growing up, and I saw the consequences. I made different choices and have enjoyed the consequences of that. Though my wife grew up starving under Mao for the first few years of her life, she’s not sure who had the more difficult start.

    I wasn’t consumed with envy regarding someone else’s wealth growing up, or devoted to blaming others for my status. I decided to work towards my goals.

    Even if I’d been born with a silver spoon in my mouth, what I’ve accomplished would still have required a lot of effort and initiative. I’ve seen plenty of people with so-called “privilege” with fancier families and degrees totally fail at what I do. Case in point – the most brilliant guy I’ve ever worked for grew up in a trailer park. He’s now much richer than me, and rightfully so.

  80. Juice Box says:

    Michael was too busy fetching missed serves and busy avoiding taxes and was anywhere but Newark growing up. It must be nice to preach from an ivory tower like Ridgewood or Wayne.

    Now tell us how all the super wealthy are super bad again. I just never get tired of hearing it.

    http://givingpledge.org/

  81. NJGator says:

    Can someone with GSMLS access let me know if the following GR listings are Active or ARIP?

    37 Stanford – 3143431 ($719k)
    59 Dodd – 3141651 ($750k)

    Muchos gracias.

  82. 30 year realtor says:

    Regarding Fair Lawn…the neighborhoods cited as examples of decline have always been the least desirable areas with the worst housing stock. Every town in Bergen County has sections that are considered “undesirable” in relation to the majority of the community. Values in these areas are always the lowest for the town in question but are high in relation to the type of housing stock and their location because they are supported by the associated quality of life of the overall community.

    I have lived in or around Fair Lawn my entire life. My office is in Fair Lawn. These neighborhoods are no better or worse than they were 50 years ago. Back then they thought the Boogie Man was gonna cross the bridge from Paterson too. Many of you appear to be afraid of off white and brown people. If you have not noticed, the world is changing.

  83. WestJester says:

    re 80
    I will never forget the shared bath water once a week as a child or bill collectors chasing down the family car and yelling at my dad asking when he was going to pay up.

  84. Fast Eddie says:

    30 year,

    I have a lot of great memories with Fair Lawn – still love the place. Some of it has changed because I can see it. :) It makes no difference about the dividing line here or there, I get what you’re saying. As for the rainbow of people, I grew up in Jersey City, not Pleasantville, USA. :)

  85. Happy Renter says:

    Re: shared bath water among siblings

    It’s funny how you don’t realize how financially poor you are when you’re a kid. Some other fond memories from my 1970s/1980s childhood:

    No central heating growing up in Pennsylvania for over 10 years (furnace blew out and parents couldn’t afford to replace it); got by with a coal stove (with a makeshift coal bin in the basement) and a kerosene heater.

    My friends thought I had a “cool” TV because it was a black-and-white hand-me-down from Grandma when she died (I’m Gen X!); didn’t have color TV (yet alone cable) until I went to college.

    They weren’t giving out Boma phones back then, I guess.

  86. Pete says:

    Gator #82,

    Both are currently active.

  87. NJGator says:

    Thanks Pete!

  88. jj says:

    My favorite Furnance story is our oil burner blew out shortly after my Dad died and we were freezing with no money to fix as it was winter. Finally, Mom called the Irish Plumber/Boiler guy to see what he could do. Comes buy says oil burner is shot you need a new motor. Which quickly concludes we dont have enough money and says I know a rich guy I can talk into upgrading to a new more efficient motor and I will take his and give it to you and just charge labor. Well he comes back and says look I am by myself you son had to help which I do running back and forth for tools and it is finally done and he goes up to talk money with Mom, all I hear is yep that is the price if I take the boy. I am like WTF, he aint kidding, whole rest of day I installed water heaters and fixed furnances, nasty dirty work if you are the helper. But we had heat. Pretty much I was filthy and dirty and tired at end of day but I was king for the day.

    86.Happy Renter says:
    May 28, 2014 at 4:37 pm
    Re: shared bath water among siblings

    It’s funny how you don’t realize how financially poor you are when you’re a kid. Some other fond memories from my 1970s/1980s childhood:

    No central heating growing up in Pennsylvania for over 10 years (furnace blew out and parents couldn’t afford to replace it); got by with a coal stove (with a makeshift coal bin in the basement) and a kerosene heater.

    My friends thought I had a “cool” TV because it was a black-and-white hand-me-down from Grandma when she died (I’m Gen X!); didn’t have color TV (yet alone cable) until I went to college.

    They weren’t giving out Boma phones back then, I guess.

  89. Nassau says:

    Do people have an opinion on Floral Park village, Nassau County?

    Metuchen and Rutherford appear to be New Jersey towns comparable to Floral Park on housing market, built environment, schools, culture, and Manhattan commute. Is this wrong?

  90. Michael says:

    Well said!!!

    30 year realtor says:
    May 28, 2014 at 4:19 pm
    Regarding Fair Lawn…the neighborhoods cited as examples of decline have always been the least desirable areas with the worst housing stock. Every town in Bergen County has sections that are considered “undesirable” in relation to the majority of the community. Values in these areas are always the lowest for the town in question but are high in relation to the type of housing stock and their location because they are supported by the associated quality of life of the overall community.

    I have lived in or around Fair Lawn my entire life. My office is in Fair Lawn. These neighborhoods are no better or worse than they were 50 years ago. Back then they thought the Boogie Man was gonna cross the bridge from Paterson too. Many of you appear to be afraid of off white and brown people. If you have not noticed, the world is changing.

  91. Michael says:

    Theo, I stated that the American worker has to pay for expensive housing, healthcare, and product costs. Yes, there is an affluent area in every country, but for the avg worker in these nations, they have nowhere near the same costs as an American worker. What’s the proof? Look at the little amount of money they survive on. Try living on that little amount in the U.S.. Plus, chile is better than the places I’m talking about. When was the last time you saw something made in chile?

    Theo says:
    May 28, 2014 at 3:45 pm
    Michael #73
    That is completely misguided. I will speak of a country I know a little about. If you go to Chile, anything that can only be purchased locally is relativeley cheap (real estate, haircut, etc.) but anything with an international market essentially costs the same or more as it does in the states, despite the fact that they make 1/4 to 1/3 of what a typical US worker makes. Things are not cheaper overseas, they are more expensive or the same as here.

    How does that play out in real life as an example? A typical “middle class” Chilean family will not have baseboard or forced hot air heat, they will use a propate space heater or wood burning stove to heat their room. At night it is hot water bottles in bed to stay warm.

    US workers are very well off by international standards and they will suffer for years to come if they cannot compete on something other than cost. Your “solutions” are not constructive and will not help the US worker.

  92. Michael says:

    93- what I meant by the made in chile label, just in case it’s taken the wrong way, is that American workers are not competing with chile, they are competing with Asia and in the future it will be Africa. How does an American worker compete with these workers based on the costs of living in Anerica? You can’t. These workers we are forced to compete with barely have any living costs, hence, why they will work for so cheap. It’s not that the American won’t work for that cheap, it’s just not possible to work and survive on that pay while living in one of the most expensive countries in the world. Northeast low skilled workers can not work any cheaper, they can’t even afford it as is. They must be given food stamps to survive on 8 dollars an hour. People miss these very important points about the cost of living when discussing low wage worker compensation in America. How can the American worker compete with these costs?

  93. Michael says:

    God bless !! Funny part, everyone thinks Americans are living it up!!

    Happy Renter says:
    May 28, 2014 at 4:37 pm
    Re: shared bath water among siblings

    It’s funny how you don’t realize how financially poor you are when you’re a kid. Some other fond memories from my 1970s/1980s childhood:

    No central heating growing up in Pennsylvania for over 10 years (furnace blew out and parents couldn’t afford to replace it); got by with a coal stove (with a makeshift coal bin in the basement) and a kerosene heater.

    My friends thought I had a “cool” TV because it was a black-and-white hand-me-down from Grandma when she died (I’m Gen X!); didn’t have color TV (yet alone cable) until I went to college.

    They weren’t giving out Boma phones back then, I guess.

  94. Comrade Nom Deplume, a.k.a. Captain Justice says:

    I just had a Michael/anon moment over on FB. A friend from high school is bent over the Santa Barbara shootings and is posting shiite about how this is a white male issue. So I rattled off a list of recent shootings and their perpetrators’ ethnicity, only about half of whom were white. She was utterly destroyed, along with her alternet propaganda piece.

    Like shooting fish in a barrel (no pun intended).

  95. Michael says:

    Juice, if this was 110 years ago, you would have been backing Rockefeller. Rockefeller was pissed that the govt was telling him what to do. The little bitch saw nothing wrong with his standard oil monopoly that allowed him to become stupid wealthy. Everyone’s chance at a future was done if teddy Roosevelt didn’t come along.

    You see, teddy Roosevelt came from money, but even he saw the dangers of super wealth. So teddy began the crusade to take back America from these barons. It’s not an attack on someone being rich, teddy was himself rich, but a crusade to take back the country from the gripes of Morgan and Rockefeller. There is no reason to accumulate that much wealth unless it’s for power reasons. You want to allow individuals through the accumulation of wealth to become more powerful than countries, just be aware of the consequences. If teddy didn’t step up to the plate, right now we would all be working for Rockefeller or some other fat cat. These barons would own everything.

    If you truly believe in small business, you would never back up these billionaires. Who wants to compete with billionaires? Just try opening up a business to compete with these big boys. It’s always fun trying to compete with Walmart or Home Depot.

    Juice Box says:
    May 28, 2014 at 4:12 pm
    Michael was too busy fetching missed serves and busy avoiding taxes and was anywhere but Newark growing up. It must be nice to preach from an ivory tower like Ridgewood or Wayne.

    Now tell us how all the super wealthy are super bad again. I just never get tired of hearing it.

    http://givingpledge.org/

  96. WestJester says:

    Why do you suppose that seemingly the entire MSM is agog over the likely charlatan buying social media cred for a few k?
    Are they really so dense?

  97. Michael says:

    For all the jokes poking fun at Polish people, they really are some of the smartest people out there. This polish artist is brilliant. Wonderful work.

    http://themindunleashed.org/2014/05/29-clever-drawings-will-make-question-everything-wrong-world.html

  98. Michael says:

    100- That painting poking fun at revolutions is simply brilliant.

  99. Michael says:

    I’m surprised, didn’t expect you to have that kind of start based on how you empathize with the working poor. Growing up under those conditions, why do you lack compassion for the working poor? Did you get bullied or something? Something had to trigger this disdain you carry towards poor people.

    Ragnar says:
    May 28, 2014 at 3:56 pm
    I’m not going to say I got the worst start in the world. But it was decidedly unprivileged within the U.S. context, though I didn’t really realize it at the time. Grew up amongst poor rednecks and poor crazy people. I envied the kids who lived with the poor rednecks. I observed the choices that my peers made growing up, and I saw the consequences. I made different choices and have enjoyed the consequences of that. Though my wife grew up starving under Mao for the first few years of her life, she’s not sure who had the more difficult start.

    I wasn’t consumed with envy regarding someone else’s wealth growing up, or devoted to blaming others for my status. I decided to work towards my goals.

    Even if I’d been born with a silver spoon in my mouth, what I’ve accomplished would still have required a lot of effort and initiative. I’ve seen plenty of people with so-called “privilege” with fancier families and degrees totally fail at what I do. Case in point – the most brilliant guy I’ve ever worked for grew up in a trailer park. He’s now much richer than me, and rightfully so.

  100. Love Klinsmann continuing to address the Donovan question.

    This is a sure sign he knows he f’ed up.

  101. Marilyn says:

    I still here Eddie. Yeah Fair Lawn is filled w/ little Schmutzies! Its going to hell because liberals love sludge!

  102. Marilyn says:

    Lets not forget the Maple Ave. section both ends crossing Fair Lawn Ave. is top notch condition!! Its a dump!

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