August home sales disappoint

From the WSJ:

U.S. Home Sales Falter as Investors Pull Back

U.S. home sales slumped in August as investors continued to pull away, raising doubts about the market’s underlying strength.

Sales of previously owned homes fell 1.8% from July to an annual rate of 5.05 million, the National Association of Realtors said. That ended four months of gains and pushed sales down 5.3% from a year earlier.

The decline reflected fewer purchases by investors, who helped fuel the housing-market rebound. The share of overall sales that went to investors fell to 12% last month, the lowest level since late 2009. Investors accounted for as much as 23% of sales in early 2012 as they bought up properties, many in foreclosure, at bargain prices.

Lawrence Yun, the NAR’s chief economist, said investors may be getting skittish about the prospect of higher interest rates as the Federal Reserve winds down a bond-buying program that was designed to pump up the economy. There are also fewer “distressed” properties for investors to quickly snap up.

The pullback means that the market will increasingly rely on demand from traditional home buyers who typically need a mortgage, including first-time buyers, Mr. Yun said. But lenders are still imposing tight credit underwriting standards, preventing many families from obtaining a home loan, he said.

Monday’s report suggested tight inventory may be weighing on sales. The number of for-sale homes has risen 4.5% over the past year to 2.31 million in August, but the level is still low by historical standards. Economists say many prospective buyers want to see more options than the market currently offers before they sign a contract.

At the current pace, it would take 51/2 months to exhaust the supply of homes for sale.

Home prices continue to rise, but at a more moderate pace compared with earlier in the housing recovery. The median sale price for a home last month was $219,000, up 4.8% from a year earlier.

This entry was posted in Demographics, Economics, Housing Recovery. Bookmark the permalink.

212 Responses to August home sales disappoint

  1. Ragnar says:

    Suckit Yun

  2. 50-100 years of wandering in the wilderness. Much gnashing of teeth.

    Get used to it, muppets.

  3. Still easy to score a shitbox in Paterson.

  4. Fast Eddie says:

    Economists say many prospective buyers want to see more options than the market currently offers before they sign a contract.

    Any questions?

  5. Grim says:

    I excluded the pent up demand quote

  6. Fast Eddie says:

    But lenders are still imposing tight credit underwriting standards, preventing many families from obtaining a home loan, he said.

    Tell that to the guy standing on the train platform in Ridgewood who bought in 2006. He could’ve used some of that tight credit lovin’ back then.

  7. Fast Eddie says:

    It’s pant up demand, get it right!

  8. Essex says:

    The good stuff still goes. But who the hell wants to buy a home when you can live in an RV?

  9. Fast Eddie says:

    Still easy to score a shitbox in Paterson.

    You could score a shitbox in Woodcliff Lake, too. It’s just gonna run ya $650,000 plus. It’s “warranted.” A house tour guide told me so.

  10. Fast Eddie says:

    But who the hell wants to buy a home when you can live in an RV?

    As long as it’s bullet proof.

  11. Libturd in Union says:

    And bear proof.

  12. Libturd in Union says:

    And tornado proof.

  13. chicagofinance says:

    Also, it is Chiller, not Shiller……

    Fast Eddie says:
    September 23, 2014 at 9:06 am
    It’s pant up demand, get it right!

  14. chicagofinance says:

    I client recently e-mailed me something about pent-up demand, and I corrected him stating the correct term is pant up……he responded WTF are you talking about? ……got to keep things fresh…………;

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

    [12] stu

    “And tornado proof.”

    As long as you don’t park it in a trailer park, you are fine.

    I wish I had done the RV thing. I knew some hippies in college who shared a bus converted to an RV. Parked it behind the campus bus garage so it wouldn’t attract attention. One of the guys living in it worked with me at Transit, driving buses.

    If I were single and looking for both shelter and a convenient tax address, I would consider it. But an upscale RV can cost as much as a house.

  16. Bystander says:

    Ahh, there is that tight inventory again..perhaps the nice, mild summer kept people from house hunting. Personally I’ve been too pre-occuppied with newborn to continue my summer low balls. Same houses are still there for most part, under new listings but same price. You know what is at an all time high, homes on market for 4-6 mos without price adjustments as well as entitled sellers pricing their home bought for $250k in ’96 at 600k today. Enjoy the winter suckers. Too many think that bubble pricing is vogue again.

  17. jj says:

    You have to be pretty ugly and have a small pecker if you were single and young and male to need to live in an RV.

    I had beds from Southampton to New Jersey I could sleep in.

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

    September 23, 2014 at 9:52 am

    [12] stu

    “And tornado proof.”

    As long as you don’t park it in a trailer park, you are fine.

    I wish I had done the RV thing. I knew some hippies in college who shared a bus converted to an RV. Parked it behind the campus bus garage so it wouldn’t attract attention. One of the guys living in it worked with me at Transit, driving buses.

    If I were single and looking for both shelter and a convenient tax address, I would consider it. But an upscale RV can cost as much as a house.

  18. The Original NJ ExPat says:

    We get it jj, but not everyone is comfortable sleeping face down grabbing their ankles.

    You have to be pretty ugly and have a small pecker if you were single and young and male to need to live in an RV.

    I had beds from Southampton to New Jersey I could sleep in.

  19. jj says:

    Pillow Biter!!

    The Original NJ ExPat says:

    September 23, 2014 at 10:32 am

    We get it jj, but not everyone is comfortable sleeping face down grabbing their ankles.

    You have to be pretty ugly and have a small pecker if you were single and young and male to need to live in an RV.

    I had beds from Southampton to New Jersey I could sleep in.

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

    [17] JJ,

    Need? I didn’t need to. But it might have saved me some money. Instead, I was paying for apartments that I was almost never sleeping in.

    Like you, I was elsewhere.

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

    Read them now before they disappear from the internet forever.

    http://www.scribd.com/doc/240077031/The-Hillary-Letters

  22. jj says:

    That is true. Without my place girls might want me to move in or Mom might want me to move home. UGGG

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

    September 23, 2014 at 11:43 am

    [17] JJ,

    Need? I didn’t need to. But it might have saved me some money. Instead, I was paying for apartments that I was almost never sleeping in.

    Like you, I was elsewhere.

  23. Anon E. Moose says:

    JJ, was this you?

    Homeless Man Says He Has One-Night Stands Multiple Times A Week To Stay Off The Streets

    Read more: http://www.businessinsider.com/one-night-stand-homeless-man-2014-9#ixzz3E9jrqMSK

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

    [23] moose

    I thought that when I first saw the story. But I think rather that this is the guy to whom JJ gave “fatherly” advice.

  25. jj says:

    It has got a lot easier to do this then 25 years ago when NYC was super dangerous and girls were on more high alert.

    When I lived in Queens I used to go to the Perry Party at the Roxy once in awhile as Jewish girls have no guilt and put out. Anyhow if I stay to closing damm Port Wash line of LIRR has a big gap at that time. So tell girl if I stay past two you have to promise to keep me all night long.Usually worked out well.

    Anyhow I used my line on a girl who was equally drunk and equally had no place to stay in the city. So around 4:30 am we head back to “her” place and she goes keep very quiet. I am like why, she goes not my place I have a key only in case of emergency. So we go into place in pitch black, I pee and she is saying dont flush we go into living room and I am extremely drunk in a suit so of course regardless of fact I cant make zero noise, we are on a floor, stangers are in the apt in bedrooms I try to make a move. Around ninety minutes later right after sun comes up a girl comes out of bedroom and sees me in a near coma on floor pants around ankle with her roomates somewhat friend equally a mess with makeup smeered and drooling, I get kicked out. But only after I insist on a bathroom visit while running out I hear the one roomate yelling to the other roomate this sh1t has to stop. Sure I got a place to sleep. But when you are forcing it like I did that night it aint pretty. Plus then I had 7am Penn Station walk of shame stinkin on liquir in a wrinkled day old shirt and tie in a suit. Lot easier to bring them to your place on your playing field.

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

    September 23, 2014 at 12:26 pm

    [23] moose

    I thought that when I first saw the story. But I think rather that this is the guy to whom JJ gave “fatherly” advice.

  26. Michael says:

    In the midst of a wave of U.S. companies including Burger King, Medtronic and AbbVie moving to foreign locales, the Treasury Department announced Monday new rules to make it harder for a corporation to save on taxes by changing its home address. For many Americans, the idea that a company can reduce what it owe to Uncle Sam just by leaving is frustrating, but also, frankly, a bit baffling. Here are some answers:

    http://time.com/money/3378719/corporate-tax-inversions-leaving-america/

  27. Michael says:

    Everybody on the Hill says inversions are just a symptom of a messed up tax code. The trouble is Republicans and Democrats are sharply divided on how to fix it. The GOP wants to move away from the worldwide tax system to a “territorial” one, so taxes are owed based on where they are earned. This would end inversion by making it unnecessary–a company’s foreign earnings would be free from U.S. taxes no matter where they kept their headquarters. Democrats have generally opposed this, preferring to impose new rules making it harder to use foreign subsidiaries as tax havens. Lawmakers in both parties have proposed cutting the top corporate rate.

  28. anon (the good one) says:

    @BillMoyersHQ: “Inversions” are *really* unpatriotic for companies that make big $$ from Medicare & Medicaid http://t.co/ydYOorhgit

  29. Libturd in Union says:

    Nom,

    Just read those letters. Didn’t see anything terribly newsworthy in there. Does it prove she’s a lefty? Sure. But that’s hardly a secret. Saul Alinsky is pretty cool too. Anyone who organizes a “fart in” is fine with me. If the Rev Wright did not impact Obama, then Alinsky is a real stretch.

  30. Michael says:

    Grim, was on point when he said what’s your definition of a suburb. Most of nj is really a city. An extension of nyc. So when they say the suburbs are dead, they are not talking about northern nj.

    “People love to refer to the northwest corner of the state as “rural.” It’s rural only by New Jersey standards. In any other state, it’s the suburbs. Beautiful suburbs with lots of woods and farms, but suburbs nonetheless.”

  31. Juice Box says:

    re # 30 – Catch up passion flute we live in a single massive city from Boston to DC. It is know as the Northeast Megalopolis.

  32. homeboken says:

    Working in NYC while the UN assembles is a massive sh!tshow. The number of random street closures, traffic diversions etc is unbearable. All of this so some diplomat from Whogivesaf@ckistan can speedily race with his motorcade across the busiest city in this hemisphere.

    All of these motorcades exist only to make the traveler feel like a VIP and feed his ego. 99.99% of people in NYC today would not be able to identify a UN diplomat much less pose a threat to him/her if they could id them. No matter though, let’s inconvenience millions of people, incur massive costs for police OT at the resident’s expense and just create a commuting nightmare for everyone so some VIP can feed his already inflated ego.

  33. Anon E. Moose says:

    Homeboken [32];

    UN Gen Assy == NYC Hipster version of Circus/Freak Shown coming to town.

  34. Juice Box says:

    Path Service uptown is closed to boot.

    PATH riders’ evening commutes won’t be any easier than the morning rush hour.

    Service on the PATH lines from 33rd Street to Journal Square and Hoboken — which was suspended indefinitely earlier today — will remain suspended through this evening’s rush hour, the Port Authority announced.

    Emergency work continues with the goal of resuming service in time for tomorrow morning’s rush hour, officials from the bi-state agency said in a statement.

    The service woes are related to issues stemming from Sunday’s cable fire in the Manhattan tunnel, south of 23rd Street and Sixth Avenue. A preliminary review has determined a repair splice between replacement cable and older cable resulted in a smoky condition this morning in the same area as Sunday’s problem, leading PATH officials to cut power and service as a matter of safety.

  35. Wish ISIS could pump a few stinger missiles into the UN right now.

  36. Xolepa says:

    (36)
    My guess, it’s only slightly smaller than JJ’s house.

    p.s. You asked for it.

  37. Xolepa says:

    It’s all relative anyway. My house is smaller than my brothers, who lives in Colts Neck and his is 1/5 the size of this:http://monmouth.journalsnj.com/abbey-farm-to-highlight-colts-neck-house-tour-by-laura-kolnoski/

  38. Wish that guy Bolton had gotten the UN kicked out of NYC.

  39. All those UN diplomats out of NYC would have meant the end of the str!pper and blow industries, though.

  40. Anon E. Moose says:

    Redux [33];

    Case in Point: kerfuffle over Kaddafi renting Trump’s house in Greenwich and erecting a Bedouin tent on the property to receive guests.

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

    I can see Lie-watha being all over this.

    http://www.cnbc.com/id/102026001

  42. NJGator says:

    For JJ…Remember to fix the link.

    Mom Bakes V*gina Cookies For 2nd Graders, Can’t Believe Teacher Has The Nerve To Refuse Them

    Read more: http://www.mommyish.com/2014/09/23/mom-bakes-v*gina-cookies-for-second-graders/#ixzz3EArXU7mC

    http://www.reddit.com/r/tifu/comments/2h4g18/tifu_by_letting_a_feminist_parent_bring_in_snacks/

  43. Ragnar says:

    Gator,
    Should that lady open a cookie shop in Montclair?
    JJ wants the cream filled ones.

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

    [45] rags,

    Thanks. Now I have to clean off the screen.

  45. NJGator says:

    Rags 45 – That’s a fine idea. Perhaps she can secure venture capital to fund it from that placenta encapsulator person..

  46. These are the kind of people who should be launched into space on a one-way ticket.

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

    Gee, I wonder if Jack Lew and anyone else in the 1700 block of Pennsylvania Avenue saw this coming. . . .

    http://money.cnn.com/2014/09/22/investing/europe-u-s-takeovers/index.html?hpt=ob_articlefooter&iid=obnetwork

    If you read this space, and your handle isn’t anon/ottoman/cobbler/223, you did.

  48. Michael says:

    2016 Chris Christie Has “Cost New Jersey Taxpayers Billions” in Privatized Pension Scam

    Where’d all the money go, Chris Christie?
    Every so often, Republicans bring up the idea of privatizing Social Security, of “investing” that money into Wall Street as a way to strengthen the economy. The idea was shot down when George W. Bush advanced it almost a decade ago. But at some point in the future, Republican rhetoric could get so insanely libertarian that the idea of privatizing Social Security no longer seems so out there. When that does happen, liberals will have to point to New Jersey as an example of why this idea doesn’t work.

    David Sirota at the International Business Times reports that in 2010, New Jersey Governor Chris Christie hired a former Carlysle Group private equity investor named Robert Grady to “manage the state’s pension money.” Grady invested the money with a number of firms including—surprise!—the Carlysle Group. What happened next?

    Between fiscal year 2011 and 2014, the state’s pension trailed the median returns for similarly sized public pension systems throughout the country, according to data from the financial analysis firm, Wilshire Associates. That below-median performance has cost New Jersey taxpayers billions in unrealized gains and has left the pension system on shaky ground. Meanwhile, New Jersey is now paying a quarter-billion dollars in additional annual fees to Wall Street firms — many of whose employees have financially supported Republican groups backing Christie’s reelection campaign.
    Those who originally opposed the state’s shifting of pension funds into hedge funds, private equity, venture capital, real estate and other “alternative investments” see the below-average returns as no accident but an inevitable byproduct of the strategy: The Christie administration has effectively taken money from retired state workers and delivered the cash to Wall Street money managers.
    It’s important to note, too, that this all happened at a time when the market has been relatively strong. Can you imagine how much money Christie and his cronies might have lost if we had another recession between 2011 and 2014?

    http://slog.thestranger.com/slog/archives/2014/08/25/chris-christie-has-cost-new-jersey-taxpayers-billions-in-privatized-pension-scam

  49. Michael says:

    In the context of a New Jersey pension system stocked with $81 billion in assets, here was a transaction that seemed unremarkable. It was 2011, the year after Gov. Chris Christie had installed his longtime friend Robert Grady to oversee the state pension fund’s investments. A former executive from the heights of finance and a national Republican Party power broker, Grady was pursuing a new strategy, shifting money into hedge funds and private equity holdings in the name of diversification and higher returns. He was now pushing to entrust up to $1.8 billion of New Jersey pension money to the Blackstone Group, one of the largest players in private equity.

    But one special feature of that Blackstone bet underscores the interlocking relationships at play as states increasingly rely on the counsel and management of Wall Street institutions to invest their pension dollars: One of the private equity funds New Jersey was investing in – a pool of money called Blackstone Capital Partners VI – claimed among its investors a Wyoming-based company named Cheyenne Capital. That company’s list of partners included one Robert Grady.

    In short, Grady was pushing to invest New Jersey public money in the same Blackstone fund in which his own firm was investing — without disclosing that fact to N.J. officials.

    http://www.ibtimes.com/christies-pension-overseer-invested-new-jersey-money-fund-he-linked-privately-1692575

  50. joyce says:

    Any idea of what the definition of privatization is, Idiot?

  51. Michael says:

    Yea, the pension system is “broken” because you want to rob it. Never ceases to amaze me how dirty these politicians are. Keep thinking the system is failing because it’s too generous for the avg worker. That is a complete lie, and only an idiot would believe that.

  52. Michael says:

    Does privatization look like this? If so, I’ll pass.

    “Between fiscal year 2011 and 2014, the state’s pension trailed the median returns for similarly sized public pension systems throughout the country, according to data from the financial analysis firm, Wilshire Associates. That below-median performance has cost New Jersey taxpayers billions in unrealized gains and has left the pension system on shaky ground. Meanwhile, New Jersey is now paying a quarter-billion dollars in additional annual fees to Wall Street firms — many of whose employees have financially supported Republican groups backing Christie’s reelection campaign.
    Those who originally opposed the state’s shifting of pension funds into hedge funds, private equity, venture capital, real estate and other “alternative investments” see the below-average returns as no accident but an inevitable byproduct of the strategy: The Christie administration has effectively taken money from retired state workers and delivered the cash to Wall Street money managers.
    It’s important to note, too, that this all happened at a time when the market has been relatively strong. Can you imagine how much money Christie and his cronies might have lost if we had another recession between 2011 and 2014?”

    joyce says:
    September 23, 2014 at 8:53 pm
    Any idea of what the definition of privatization is, Idiot?

  53. joyce says:

    So, ‘no’ then.

  54. Juice Box says:

    Gotta love old folks. My dear old mom is now the proud owner of two new cars. Sigh…any insight people it’s appreciated.

  55. Juice Box says:

    Re# 51 – Mike his wifey is Wall St. What did you think would happen?

  56. Michael says:

    If you think everything can be privatized and work efficiently with no problems….I have this bridge to nowhere that I’m looking to sell. Privatized or public, it’s all the same crap. The mafia is a great example of what will happen if everything was privatized and govt was eliminated. That will be the end result every time. So don’t come here preaching the privatization spew without truly understanding human psychology. A pure privatized society is nothing more than a utopia. Sweet dreams!

    joyce says:
    September 23, 2014 at 8:58 pm
    So, ‘no’ then.

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

    [57] juice,

    Lawyer up. That’s a fairly easy one to fix but the dealer(s) won’t go away easily. Send in your pit bull to snarl and bare teeth and the problem will go away.

  58. Michael says:

    Lol…sad but true

    Juice Box says:
    September 23, 2014 at 9:14 pm
    Re# 51 – Mike his wifey is Wall St. What did you think would happen?

  59. joyce says:

    Passion Fruit,
    loves his strawmen.

    p.s. Do you know what that means, idiot?

  60. Libturd at home says:

    It’s another name for a scarecrow.

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

    When Chinese investors made a bid for Smithfield Foods, I remember joking that the Obama administration might block it on national security grounds.

    Seems I wasn’t far off.

    http://www.paulhastings.com/publications-items/details/?id=ee9de169-2334-6428-811c-ff00004cbded

  62. Ron Jermany says:

    51,

    This has been going on for decades.

  63. Ron Jermany says:

    44,

    Maybe the woman in Teaneck should have sold these to avoid foreclosure.

  64. Juice Box says:

    Apple has a diabolical plan to get rid of hipsters by bankrupting them.

    http://www.dailydot.com/technology/iphone-6-plus-bendgate/

  65. crorkz says:

    MhoCQS Helpful info. Lucky me I found your site by accident, and I’m shocked why this coincidence didn’t took place in advance! I bookmarked it.

  66. The Original NJ ExPat says:

    [68] cue the return of fanny packs.

  67. chicagofinance says:

    http://www.youtube.com/watch?v=lvyt0PwMX_g

    The Original NJ ExPat says:
    September 24, 2014 at 8:38 am
    [68] cue the return of fanny packs.

  68. chicagofinance says:

    grim: I have FiOS at work and I have not been able to access the site from there the last couple of days…..any advice?

  69. The Original NJ ExPat says:

    [72] chifi – Our corporate network has given me the same problem for the last couple days. Purportedly a DNS issue. Lucky for me we have a secret 2nd network.

  70. yome says:

    Few argue that the loopholes that encourage such tax-driven mergers with foreign companies are fine and dandy. In fact, many lawmakers and tax experts wouldn’t mind seeing them closed.
    But inversions are relatively small potatoes compared to other tax breaks companies enjoy.
    Before the Treasury came out with new rules on Monday, the Joint Committee on Taxation had estimated that U.S. companies that invert could cost federal coffers about $20 billion in lost revenue over the next decade.
    Compare that to the roughly $400 billion it will cost over the same decade if lawmakers choose to re-up the “temporary” corporate tax breaks that expire every few years and are regularly extended, according to the Committee for a Responsible Federal Budget.
    Not every corporate tax break is bad. Far from it.
    But some are dumb; others are mistargeted or engineered by special interests. And some, like those companies can exploit when inverting, are used in ways lawmakers never intended.
    Take the domestic manufacturing deduction. It’s one of the most expensive tax breaks available to corporations, costing close to $80 billion over five years. It lets companies deduct a percent of the cost of certain manufacturing expenses.
    Related: 7 things you must know about corporate taxes
    Come tax time, it’s amazing how many companies fancy themselves manufacturers. Movie makers and fast-food hamburger makers can qualify apparently.
    Or consider the many strategies available to a U.S.-based multinational when it wants to lower its tax bill, even while it remains headquartered in the United States.
    The one that’s gotten a lot of attention is profit-shifting. This can happen when a U.S. company shares the cost of its research and development with one of its foreign subsidiaries based in a low-tax country.
    In exchange, the subsidiary shares in the profits that result from the products born of that R&D, which is usually conducted on U.S. soil.
    What troubles tax experts is when the the low-taxed foreign subsidiary books profits that are far higher relative to its investment than those reported by the U.S. branch.
    Then there are very industry-specific tax breaks, the broad economic benefits of which are, um, not at all clear. In fact, Howard Gleckman, editor of the blog TaxVox, calls them “giveaways.”
    In his book, these include subsidies for energy production, credit unions and corporate-owned life insurance. Also on the list: an accelerated depreciation schedule (7 years) for the cost of building or improving NASCAR racetracks and related facilities. Another is a special break for Puerto Rican rum manufacturers.
    Bottom line: Addressing inversions barely scratches the surface of the real work that has to be done to clean up the corporate tax code.
    Maybe next year.

  71. The Original NJ ExPat says:

    [68] A comment in that article would have surely made me do a Nom-like coffee monitor spray had I been in mid drink:

    “Looks like everyone will be forced to buy the new Apple iPants…”

    Apple has a diabolical plan to get rid of hipsters by bankrupting them.

    http://www.dailydot.com/technology/iphone-6-plus-bendgate/

  72. Anon E. Moose says:

    Michael [51];

    Republican rhetoric could get so insanely libertarian

    Nice to know that you think personal liberty is insane.

    Take a good look, this is where we are folks.

    Michael, how many people who “invested” in SS are eating cat food? How many people who put an equal amount in a diversified portfolio of investments are retired on the gold coast of Florida?

  73. The Original NJ ExPat says:

    [76] Putrid Flower doesn’t wake and bake until around 10. He’s still dreaming of inflated dollars right now.

  74. Both being on SS and retiring in Florida are versions of hell on earth.

  75. Only thing inflated about passionturd is his stupid quotient.

  76. Michael says:

    Listen, I understand what you are saying. My point is, if you privatize it, they will just rob you another way. That’s why I used the mafia example. If everything was privatized and there was no govt, some people would still come together to extort the other people. Govt might not be great, but at least it’s better than the alternative. Meaning, govt will be corrupt, but the mafia type rule will be even worst. It’s absolute corruption.

    Anon E. Moose says:
    September 24, 2014 at 8:56 am
    Michael [51];

    Republican rhetoric could get so insanely libertarian

    Nice to know that you think personal liberty is insane.

    Take a good look, this is where we are folks.

    Michael, how many people who “invested” in SS are eating cat food? How many people who put an equal amount in a diversified portfolio of investments are retired on the gold coast of Florida?

  77. chicagofinance says:

    eddie: seriously……his world doesn’t exist beyond his fingertips…..

  78. The Original NJ ExPat says:

    [81] You guys are such rubes. The white styrofoam coffee cup was perfect sleight of hand and misdirection by Obama. Everybody is watching the coffee cup being raised and nobody notices that he is giving the Marine the classic beat off gesture with his left hand. He is left-handed you know.

  79. Fast Eddie says:

    Ya think Oblama does the “money” thing like Johnny football?

  80. FKA 2010 Buyer says:

    A better question is, what were you thinking about when this happened? Probably thinking how Palin would make a really hot VP.

    What Was The Federal Reserve Thinking In Summer 2008?

    http://seekingalpha.com/article/2492425-what-was-the-federal-reserve-thinking-in-summer-2008

    A complete chronology of the recent financial crisis might start in February 2007, when several large subprime mortgage lenders started to report losses. It might then describe how spreads between risky and risk-free bonds-“credit spreads”- began widening in July 2007. But the definitive trigger came on August 9, 2007, when the large French bank BNP Paribas temporarily halted redemptions from three of its funds because it could not reliably value the assets backed by U.S. subprime mortgage debt held in those funds.

  81. clotluva says:

    Can’t wait to see the types of sycophants Obama ends up surrounding himself with when he leaves office.

  82. The Original NJ ExPat says:

    [86] I have to imagine his (US) speaking fees will ramp down pretty quickly.

  83. anon (the good one) says:

    @pittgriffin:
    The free market does roads better? #fail “Indiana Toll Road operator files for bankruptcy”

    Michael says:
    September 23, 2014 at 8:57 pm

    Does privatization look like this? If so, I’ll pass.

    “Between fiscal year 2011 and 2014, the state’s pension trailed the median returns for similarly sized public pension systems throughout the country, according to data from the financial analysis firm, Wilshire Associates. That below-median performance has cost New Jersey taxpayers billions in unrealized gains and has left the pension system on shaky ground. Meanwhile, New Jersey is now paying a quarter-billion dollars in additional annual fees to Wall Street firms — many of whose employees have financially supported Republican groups backing Christie’s reelection campaign.
    Those who originally opposed the state’s shifting of pension funds into hedge funds, private equity, venture capital, real estate and other “alternative investments” see the below-average returns as no accident but an inevitable byproduct of the strategy: The Christie administration has effectively taken money from retired state workers and delivered the cash to Wall Street money managers.
    It’s important to note, too, that this all happened at a time when the market has been relatively strong. Can you imagine how much money Christie and his cronies might have lost if we had another recession between 2011 and 2014?”

  84. FKA 2010 Buyer says:

    Will subprime mortgage lending 2.0 be a disaster?

    Source: http://ochousingnews.com/blog/will-subprime-mortgage-lending-2-0-disaster/#ixzz3EExDkR7T

    Subprime lending as an industry barely existed prior to 1994. There were few lenders willing to loan to people with poor credit, and there was no secondary market to purchase these loans if they were originated. The growth of subprime was the direct result of the lowering of lending standards created by the change of incentives brought about by the creation of the secondary mortgage market.

    Once lenders no longer had responsibility for holding the loans they originated, their incentive was to increase volume; qualify meant nothing and quantity meant riches. The easiest way to increase volume was to lower standards, and since lenders didn’t have consequences for loans going bad, the race to the bottom was on. The only thing holding back this race to the bottom today is the “put back” requirements forcing lenders to buy back their bad loans.

  85. anon (the good one) says:

    very unlikely that he will be like W,….most of his days making portraits of cats

    clotluva says:
    September 24, 2014 at 9:33 am
    Can’t wait to see the types of sycophants Obama ends up surrounding himself with when he leaves office.

  86. The Original NJ ExPat says:

    How long before Apple comes out with an iPhone 6 plus titanium model?

  87. 1987 Condo says:

    #88…so I wonder if the failure of the Private Indiana Toll vendor is actually a plus for Indiana…did they collect a lump sum up front and a piece of the ongoing action? If so, they have the money and maybe can buy it back at a small percentage and go on their merry way collecting tolls and banking that lump sum!

  88. Michael says:

    Best part, the owner is probably a supporter of privatizing everything. If’ that is the case, how come he is filing for bankruptcy? Going to get help with his debt from the very govt he wants to privatize? I thought privatizing fixes everything, but once again, it’s the tax payer left paying the bill. It’s funny, if the state ran the toll road into the ground, people want their necks. A private company runs it into the ground and we bail them out with bankruptcy. Funny, how much angrier people are when the state fails as opposed to private business. Such bias, it’s not even funny.

    anon (the good one) says:
    September 24, 2014 at 9:37 am
    @pittgriffin:
    The free market does roads better? #fail “Indiana Toll Road operator files for bankruptcy”

  89. Libturd in Union says:

    “If you think everything can be privatized and work efficiently with no problems….I have this bridge to nowhere that I’m looking to sell.”

    What?

    The bridge to nowhere was a prime example of what’s wrong with government. Is P-Fruit arguing for or against privatization?

  90. Libturd in Union says:

    “It’s funny, if the state ran the toll road into the ground, people want their necks.”

    As I pay $1.50 to drive ten miles on the GSP.

  91. Michael says:

    So if you privatize everything, our country will now be run more efficiently with 0 corruption and nepotism? Give me a break. It will be ten times worst. You have to have a balance. Some things need to be privatized and some things need to be in the hands of the public. Absolutes are nothing but trouble. You need to be in the middle.

    Libturd in Union says:
    September 24, 2014 at 9:57 am
    “If you think everything can be privatized and work efficiently with no problems….I have this bridge to nowhere that I’m looking to sell.”

    What?

    The bridge to nowhere was a prime example of what’s wrong with government. Is P-Fruit arguing for or against privatization?

  92. Pete says:

    #92,

    I believe that is exactly what happend.

    “Despite ITRCC’s current troubles, Indiana comes out of this deal in great shape. The $3.8 billion worth of up-front lease payments was used to pay for a 10-year highway capital improvement program that proved very popular.”

  93. Michael says:

    If they privatize federal parks, how much would it cost to go there? Or better yet, how long before they sell off the land or extort the land for its resources, leaving the public with nowhere to go.

    Libturd in Union says:
    September 24, 2014 at 9:58 am
    “It’s funny, if the state ran the toll road into the ground, people want their necks.”

    As I pay $1.50 to drive ten miles on the GSP.

  94. Libturd in Union says:

    Middle ground P-Fruit. Many things should be socialized. Many things should not. The government has become an inefficient turd pile of empty promises made to public union workers by leaders who will be working in IBs long before any of these promises are fulfilled. Go check out how many fraudulent tax refunds were claimed last year through stolen identities. Most of these checks were mailed to the same few addresses.

  95. Libturd in Union says:

    And speaking of nepotism, try to get a county or state job. If you are not related or a close friend, no gravy train for you. I know, Gator tried. Another model of efficiency.

  96. Michael says:

    98- Also, if the toll road was privately held, what would prevent them from raising the price to travel the road, esp if there is no regulatory body (govt) to step in and say you can’t do that. They will have a monopoly on a main highway, with 0 competition to hold prices down. You think it’s bad now, it would be a lot worst if everything was privatized and we got rid of govt.

    You guys act like we don’t need govt, that it holds us back. Truth is, human beings hold us back. They are greedy and will do their best to corrupt whatever system it is. Govt is not the problem, it’s the people running it. These same people will be running it whether it is private or public. This is why I keep using the mafia example. It’s just human nature and for the most part, human nature turns to evil when in positions of power.

  97. Michael says:

    The problems you speak of are not due to the govt, they are due to greedy corrupt individuals. Govt didn’t make them do that. They are just looking for ways to get over on the system. It’s impossible to stop corruption.

    Libturd in Union says:
    September 24, 2014 at 10:11 am
    Middle ground P-Fruit. Many things should be socialized. Many things should not. The government has become an inefficient turd pile of empty promises made to public union workers by leaders who will be working in IBs long before any of these promises are fulfilled. Go check out how many fraudulent tax refunds were claimed last year through stolen identities. Most of these checks were mailed to the same few addresses.

  98. Michael says:

    Yes, and you think if these jobs were all privatized that they would not be filled by nepotism. Govt didn’t create nepotism, people did.

    Libturd in Union says:
    September 24, 2014 at 10:13 am
    And speaking of nepotism, try to get a county or state job. If you are not related or a close friend, no gravy train for you. I know, Gator tried. Another model of efficiency.

  99. Libturd in Union says:

    Circular Reference Warning.

  100. Libturd in Union says:

    Government = Corruption without profit motive

    Private = Corruption with profit motive

    Which do you think is more efficient?

  101. clotluva says:

    [87] expat – my prediction is that he will establish something in the mold of the National Action Network – only his goons will have better pedigrees.

    [90] anon – better painting cats than desperately clinging to relevance.

  102. Phoenix says:

    100 Lib
    Or be really hot. JJ would not have to know anybody to get a state job.
    Neither would his female equivalent.

  103. Phoenix says:

    105. I vote for private. With one exception. Get caught stealing get nailed to a cross on Rt 80 to be viewed like a billboard on what not to do.
    I guess that exception should go for public too…

  104. Michael says:

    Depends on the situation.

    Sometimes profit is the cause of the corruption. This is why I don’t back charter schools which are run for profit on tax dollars. Much rather support a public school system. Are both going to be corrupt, sure, but the charter school will def have more corruption in the end. A public school can only hand out jobs or contracts. With a charter school, there is no end to what level of corruption it can get to.

    Libturd in Union says:
    September 24, 2014 at 10:27 am
    Government = Corruption without profit motive

    Private = Corruption with profit motive

    Which do you think is more efficient?

  105. The Original NJ ExPat says:

    I heard a brilliant idea yesterday.

    The GAO audits congress, but they are funded by congress, hence the moral hazard.
    The Big Four audits the big banks, but they are (effectively) funded by the big banks, hence the moral hazard.

    Have them switch. The GAO audits the banks and the Big Four audits the government.

  106. Libturd in Union says:

    In other news, saw gas for $2.93 today.

  107. 1987 Condo says:

    #111//that is clearly just some bogus government number to try and convince you that inflation is not rampant…

  108. Ragnar says:

    On the toll road, users are unaffected. It hasn’t been run into the ground. People who lent the operator money will lose money. I can see one of the owners are Macquarie, who are notorious (with me) for overleveraging assets and extracting cash. They also apparently made an overly optimistic forecast of traffic growth. They get what they deserve they levered up on an optimistic forecast. We want bankruptcies when capitalists make mistakes, right?

    Toll roads are generally operated on concession agreements, specifying service, investment, allowable toll rate adjustments over time. The concessions are generally paid both up front to the government, and also often over time. I have little doubt that this toll road is operated better and at lower operating cost than if the road were government run. Of course, the more money the government extracts up front from the concession, the higher the debt and interest expenses will tend to be. If government gets too greedy, they can raise a lot of money selling toll concessions, which would then also lead to higher toll rates than would otherwise be necessary (i.e. government can say to prospective concession investors – give me $1bn and I will let you charge each car $5, or they could for example raise $200mn and allow a maximum of $1 per car. But there is a demand curve for traffic there that they could predict wrong.

  109. Ragnar says:

    So to sum up, anon again demonstrates the debilitating consequences of the Dunning-Kruger Effect.

  110. jj says:

    To get a State job it is not who you know but who you blow.

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

    [74] yome,

    Spot on. Inversions are a symptom, a canary in the coal mine if you will.

    The USG’s solution is to bar the door so the canaries can’t escape.

    Next up, the Reichsfluchsteuer makes a comeback, to the deafening applause of “progressives.”

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

    A future news story:

    “Washington (Sept. 8) (Reuters):

    The IRS today declared that no new order has been issued requiring wealthy Americans to deposit with the Treasury Department security equivalent to the tax imposed on persons who renounce their U.S. citizenship pursuant to Section 877A of the Internal Revenue Code.

    Explaining reports published by European news organizations, the IRS announced that existing regulations provide that persons suspected of planning to remove their capital illicitly can be forced to deposit security with the U.S. Treasury.

    According to the IRS press officer, that provision is now being applied against selected Americans “since we now have grounds to believe that certain persons may leave the country without paying the “exit tax” (recently raised to 30 per cent of unrealized capital gains).”

    Despite reports to the contrary, there is no panic among wealthy Americans, since very few cases have been reported of demands having been made for the security.”

    The original 1936 news report can be found at http://www.jta.org/1936/09/09/archive/reich-applies-flight-tax-regulation-against-jews

  113. Michael says:

    Ok, let me play devil’s advocate. A private company runs on profit and the public does not. So all those jobs eliminated for the sake of efficiency will just go to the owner of the toll road in the form of profit. So what is the difference? More people having jobs, or the profit going to one individual.

    Ragnar says:
    September 24, 2014 at 11:51 am
    On the toll road, users are unaffected. It hasn’t been run into the ground. People who lent the operator money will lose money. I can see one of the owners are Macquarie, who are notorious (with me) for overleveraging assets and extracting cash. They also apparently made an overly optimistic forecast of traffic growth. They get what they deserve they levered up on an optimistic forecast. We want bankruptcies when capitalists make mistakes, right?

    Toll roads are generally operated on concession agreements, specifying service, investment, allowable toll rate adjustments over time. The concessions are generally paid both up front to the government, and also often over time. I have little doubt that this toll road is operated better and at lower operating cost than if the road were government run. Of course, the more money the government extracts up front from the concession, the higher the debt and interest expenses will tend to be. If government gets too greedy, they can raise a lot of money selling toll concessions, which would then also lead to higher toll rates than would otherwise be necessary (i.e. government can say to prospective concession investors – give me $1bn and I will let you charge each car $5, or they could for example raise $200mn and allow a maximum of $1 per car. But there is a demand curve for traffic there that they could predict wrong.

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

    Tell us something we don’t know, Kyle:

    “The nation’s unemployment rate as measured by the Labor Department vastly underrepresents the number of Americans actually out of work, hedge fund manager Kyle Bass told CNBC Wednesday.

    Earlier this month, the government said the nation’s unemployment rate fell to 6.1 percent in August, while job growth cooled with just 142,000 nonfarm payrolls added.
    “Look at unemployment, the way it’s calculated is it’s semi-rigged,” he argued in a “Squawk Box” interview. “It will trend down to the 5 percent range just because people stop looking for a job.”

    “If you take everyone that has dropped out of the workforce since the beginning of the financial crisis,” he continued, “the unemployment number would be 11 percent.”

    That’s one of the reasons the founder of Hayman Capital Management thinks concerns about borrowing costs going back to pre-financial crisis levels are unfounded. . . .”

  115. Anon E. Moose says:

    Lib [105];

    Government = Corruption without profit motive

    Private = Corruption with profit motive

    Which do you think is more efficient?

    When the topic of moving to North Carolina used to come up on this blog, and true believes like Michael would argue the corruption inherent in a “Good-Old Boy” type of jurisdiction, my counter argument is that it does the corruption really matter if the total dollars charged are 1/3 as much?

    For example, suppose I own a house in the Concentrated Area of Relocated Yankees [Cary], NC, and am paying $5k in property taxes on a house that would command $15k in taxes in NJ. As long as the garbage gets picked up and the Fire Department answers 911, most people really wouldn’t give a flip if town commissioner “Billy Bob” manages to ride around in a new F150 Duallie that seems like its a little rich for his salary. I’m saving $10k, so let the ‘founding fathers’ skim their $1k tribute.

    So, let the private sector efficiently fleece the people, since the alternative is the government inefficiently fleecing the people for twice as much.

    “You can shear a sheep many times, but skin it only once.”

  116. Fuel for the logic non-partisans says:

    By the way, no one beats the Port Authority and the MTA for nepotism, political hack jobs, and incompetence. Only people there that are competent are the engineers, otherwise the bridge would have fallen down by now.

    But I digress, hat tip to Golem XIV from the UK;

    The Next Crisis – Part two – A manifesto for the supremacy of the 1%
    By Golem XIV on September 22, 2014 in latest

    The present crisis is not yet over and yet we are already overdue for the next.

    In Part One I suggested that not only are the 1% well aware of this but that while they have been telling us how we must ‘save’ the present system and assuring us that any radical break with the policies of the past will result in catastrophe, they have in fact been working hard to engineer very radical changes. We have all seen the decline in living standards and are all acutely aware of the changes which directly effect us. But I wonder if the true significance of the changes, when taken together, has largely gone unnoticed? Certainly the Over Class has not made clear their real intentions. Why would they? I believe the 1% know that to protect their wealth and power next time will require radical political dismantling of what is left of our democracy. Necessarily much of what follows is speculative. But the speculation is, I think, rooted in and extrapolated from what we can already see happening today.

    Some things about the present system must be maintained, others expanded and some new ones added. Taken together the changes, I think, amount to the beginnings of a Manifesto for the 1%. So here are some of the things, I think, our global Over Class would like to achieve and how they intend to achieve them.

    As I have been writing this article it has grown, each section getting longer. I’m afraid I sometimes find it difficult to know where the sweet point is between, on the one hand – being too dense, and on the other – over explaining. So here is a outline of the sections so that you can see where I’m going and skip the sections that seem obvious.

    Outline.

    1) The Over Class must retain and consolidate their control over the global system of debt.

    2) The power to regulate must be taken from nations and effectively controlled by corporations.

    3) Professionalize governance. Democracy can be and must be neutered, and an effective way of doing this is to insist that amateur, elected officials MUST take the advice of professional (read corporate) advisors. Expand current law to enforce this.

    4) The financial system badly needs un-encumbered ‘assets’ to feed the debt issuing system. A new way must be found to prise sovereign assets from public ownership. Such a new way is suggested.

    5) In order to facilitate the political changes necessary, the public mind-set must be changed. National Treasures such as the NHS in Britain must be re-branded as evil State Monopolies.

    6) Effective ways must be found to convince people that democratic rule is no longer sufficient to protect them.

    7) An alternative to Democracy must be introduced and praised. That alternative must be the Rule of International Law as written and controlled by the lawyers of the 1%. People must be told that this is all that stands between them and an increasingly hostile and anarchic world. But that it can only keep them safe if it has absolute authority over democracy. People must voluntarily bow to it out of fear and its decisions must be as absolute and unquestionable.

    In conclusion, I suggest that this amounts to a dystopian version of the old environmentalist idea of Spaceship Earth. A corporate version where we are just passengers who must pay our passage in a ship someone else owns. No longer inhabitants or citizens with the same inalienable right to be there and be heard as anyone else.

    And yet, dark as all this may seem, victory for the 1% depends on no one understanding what is happening. If we are already beginning to see the outlines of what the Over Class wants, then their victory is not assured. If our ignorance is their bliss, then our understanding is like sunlight on a vampire’s skin.

    All is not lost, not by a bloody long way.

  117. Michael says:

    121- Thanks for the share. Very interesting piece.

  118. joyce says:

    Idiot,

    “Govt is not the problem, it’s the people running it. These same people will be running it whether it is private or public. This is why I keep using the mafia example. It’s just human nature and for the most part, human nature turns to evil when in positions of power.”

    Government is power. It is force. And it is seen as “legal” in many pea brains such as yours. You’re comparing it to an unequivocal illegal operation. It’s pathetic how many words you use which you do not understand. We have rampant corruption everywhere within the govt and you hold that up as a better alternative. We have rampant corruption in private sectors as well… which the govt does its level best to protect and foster. The govt is protecting these “legal mafias” (and operating one of their own) all of which are seen as legitimate. Why?

  119. joyce says:

    6.5-ton armored vehicle to roll through Pennsylvania woods in hunt for suspected cop killer

    “The search for Frein — now in its 12th full day — has resulted in frequent unannounced and indefinite roadblocks in Canadensis. Some residents have resorted to sleeping in their cars due to entire neighborhoods being cordoned off.

    Troopers issued a “shelter-in-place” order last week that kept some residents from leaving their homes for more than a day, while others who weren’t already at home could not return. Residents said the directive left elderly residents unattended and pets unfed, as well as lost wages for workers who couldn’t reach their job sites.”

    http://www.foxnews.com/us/2014/09/24/65-ton-armored-vehicle-to-roll-through-pa-woods-in-hunt-for-suspected-cop/

    does every crime get this sort of police investigation and response?

  120. Michael says:

    121- I held a similar view on debt. They make a big commotion out of the debt, but in reality, they need it. Eliminate govt debt and the bond market collapses. Where will the wealthy invest their money then to keep up with inflation? Bond market is really just a scam. Providing money to the govt so the govt can go into debt and provide a constant source of revenue for these individuals that is guaranteed. Talk about a con. They are the sole reason govt is in debt. You provided the money in the first place. Simple as that.

    “It is perhaps THE most important point of any for-profit, debt-based, currency or system (debt doesn’t HAVE to involve interest) that that debt must increase. Not because it is a law of physics nor even that it benefits the 99% (largely it doesn’t) – it happens because it benefits the 1% to whom the interest is owed and more fundamentally because the entire value of the 1%’s debt-based, paper wealth depends upon there being a constant increase in debt. If debt didn’t increase then their wealth would become, first unstable, and then burn to ash. If that seems like I plucked this claim out of thin air I suggest that our present crisis and many others before it are the abundant proof. When the expansion of the global bubble of debt began to slow in 2007 it made the value of all the existing debt-based wealth first uncertain and then implode. Everything done since has been for the sole purpose of reflating the bubble of debt so that debt-based wealth could be said to have value. The 1% will never give up the power they currently enjoy to issue and control the inflation of debt, because their wealth would evaporate if they did.”

  121. Michael says:

    govt is protecting “legal mafias”? What mafia is legal? Also, how do you put an end to the mafia (organized crime) in the private sector. It will happen no matter what, it’s human psychology. You are telling me if we eliminated govt and ran the economy on a free market, there won’t be crime? It will be rampant.

    That’s why we need govt in the first place. Damn, if govt didn’t step up and put an end to monopolies, right now we would be owned by the baron’s of the late 1800’s. Or should I say baron? You know damn well they would have fought each other, leaving only one baron controlling it all. Thank you teddy roosevelt for putting an end to this bs.

    joyce says:
    September 24, 2014 at 1:23 pm
    Idiot,

    “Govt is not the problem, it’s the people running it. These same people will be running it whether it is private or public. This is why I keep using the mafia example. It’s just human nature and for the most part, human nature turns to evil when in positions of power.”

    Government is power. It is force. And it is seen as “legal” in many pea brains such as yours. You’re comparing it to an unequivocal illegal operation. It’s pathetic how many words you use which you do not understand. We have rampant corruption everywhere within the govt and you hold that up as a better alternative. We have rampant corruption in private sectors as well… which the govt does its level best to protect and foster. The govt is protecting these “legal mafias” (and operating one of their own) all of which are seen as legitimate. Why?

  122. Michael says:

    126- Joyce, this is for you. Go ahead and take away regulation. This is exactly what the ruling class wants. Good job parading against regulation….you know since it’s such a bad thing to not let corporations do whatever they want.

    “2) Regulatory power.

    One of the areas of power remaining to nations which act as an unwelcome hindrance to global corporate power is the power to regulate. This must be curbed and proposals are already on the table to do so. Such an effort is now enshrined in the multilateral trade agreements currently being agreed behind closed doors: the TPP, TTIP and the one which will remove finance from national control, TISA. These agreements all contain a new approach to regulation which we could summarize as “Our experts, Our data, Our regulations.” In a paper submited to the TTIP negotiations jointly by the US Chamber of Commerce and Businesseurope we find a proposal to adopt what they call “Regulatory Cooperation”. Which the paper says will,

    “…put stakeholders [the corporations] at the table with regulators to essentially co-write regulation.” P. 4

    The new philosophy, despite its coy claim to being about ‘cooperation’, puts corporations firmly in charge of setting the regulations for themselves and their products on the grounds that only they have the necessary experts, who have the necessary access to the data which is otherwise “confidential”. Or, to appropriate a phrase from the American revolution and use it for demanding more rights for corporations, “No Regulation without Consultation.”

    The policy already being written in to the Trade Agreements and given specific teeth by their Investor State Dispute Settlement (ISDS) clauses, is not simply about who regulates what, it is the leading edge of a broad concern to remove any important decisions from democratic control. The ISDS, in case you are not familiar with the jargon, is the clause first used in Bilateral Trade Agreements, now being incorporated into all Trade agreements, which gives corporations the right to take nations to privately run arbitration at which they can sue the nations … and almost always win. And this, for me, is the key point. Disastrous as the Trade Agreements will be in and of themselves, they are a leading edge of this much more profound attack (see below) which I think we will see gathering pace in the next few years.”

  123. joyce says:

    You never fail to disappoint do you.
    – You also never fail to comprehend anything and
    – You also never fail to claim someone esle said something that they did not, and then tell them they’re wrong
    – You also never fail to make crazy assumptions and state them as fact.

    You’re hopeless.

  124. joyce says:

    One of the most exampes of regulation is the f_cked up tax legislation, code, and accompanying regulations. They government is corrupted by special interests which carve out certain provisions for themselves as well as create burdens for their competition.

  125. joyce says:

    You’re presenting examples of private interests influences GOVERNMENT trade agreements. idiot

  126. Juice Box says:

    re # 124 – Dingmans Ferry and the Delaware State Forest on both sides of the river for miles around. There is no way the Troopers will hike more than a mile into those woods without a vehicles and backup. If this guy is anything like Eric Rudolph it will be years before he will be caught stealing garbage from a supermarket dumpster.

  127. Happy Renter says:

    Joyce, this one is for you:

    Pregnant woman thrown, held belly-down to the ground by NYPD cop in Brooklyn:
    http://www.nydailynews.com/new-york/brooklyn/exclusive-pregnant-woman-thrown-nypd-article-1.1950499

    At least they didn’t run her over with an armored vehicle.

  128. joyce says:

    Happy,
    I find their behavior within department policy.

  129. nwnj says:

    #131

    Except this guy targeted cops and not abortion doctors so this is a vengeance operation. Plus how many of them would be able to sleep at night knowing that he’s lurking. This guy will be brought out in a body bag.

  130. Anon (90)-

    Bojangles will turn into Chauncey Gardner in blackface. With a golf club.

  131. Juice Box says:

    Deflation making sure it does not happen here.

    History Rhymes

    Coming soon to the USA ….. and thanks, now we can all safely fund our retirement

    TOKYO — The Bank of Japan is growing into its role as a key source of support for the country’s stock market, as it has stepped up purchases of exchange-traded funds to bring its equities portfolio to an estimated 7 trillion yen ($63.6 billion) or so.
    The central bank bought 123.6 billion yen worth of ETFs in August, the largest monthly tally so far this year. At one point, it snapped up ETFs in six straight sessions amid weak stock prices.
    The BOJ tends to make 10 billion yen to 20 billion yen worth of purchases when stock prices fall in the morning. The bank has not made any purchases so far in September because the market has been rallying.
    According to BOJ data, the market value of individual stocks and ETFs that it held as of March 31 came to 6.15 trillion yen. Given its purchases since then and the market rally, the value is estimated to have increased to a whopping 7 trillion yen or so by now. That figure accounts for 1.5% of the entire market value of all Japanese shares, or roughly 480 trillion yen. It also means the BOJ may surpass Nippon Life Insurance, the largest private-sector stock holder with some 7 trillion yen in holdings, as early as this year and emerge as the second-biggest shareholder behind the Government Pension Investment Fund — the national pension fund with 21 trillion yen.

    http://asia.nikkei.com/Markets/Equities/Bank-of-Japan-emerging-as-big-Japanese-stock-buyer

  132. Juice Box says:

    History Rhymes.

    Lessons from Japan to keep the music from stopping.

    Buy now or be priced out forever.

    http://asia.nikkei.com/Markets/Equities/Bank-of-Japan-emerging-as-big-Japanese-stock-buyer

  133. Juice Box says:

    History Rhymes.

    Making sure the music does not stop across the Pacific as Japan goes full Zimbabwean.

    “Bank of Japan emerging as big Japanese stock buyer”

    “The BOJ started outright purchases of shareholdings from banks back in 2002 with the aim of stabilizing the country’s financial system. To prevent stocks from tumbling steeply, it also began buying ETFs in 2010. The bank does not buy individual shares now, but it doubled its annual ETF purchases to 1 trillion yen when it introduced unprecedented levels of monetary easing in April 2013.”

    URL is safe, it would not post so I made it a tiny one.

    http://tinyurl.com/l3bjzc6

  134. Juice Box says:

    humm somehow it posted.. sorry for the repeat posts.

  135. Libturd at home says:

    Just got a warning from the Montclair Fire Department about those stupid Fire Challenges.

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

    [124] joyce,

    “The massive ongoing search now includes a 13,000-pound machine that allows officers to gain entry to the second story of a house without a ladder or to deploy snipers to rooftops.

    “The Armored Deployment Platform (ADP) allows officers to approach structures with reduced exposure,” according to manufacturer Ring Power Tactical Solutions. “A team can be placed anywhere and have a secure position from which to make better tactical decisions.”

    Basically, its a hydraulic-powered siege tower.

  137. anon (the good one) says:

    @BloombergNews:
    One-hundred-sixty mass shootings have killed 486 people and injured 557 more since 2000, the FBI says

  138. Juice Box says:

    Was hoping twitter bot was a person of their word just asking too much?

    40 more days until the election twitter bot. Get to work…at 150 a day for posting tweets you must be rolling in dough.

  139. A Home Buyer says:

    486 mass killings over 12 years?

    What does that say about the CDCs listing of 492 deaths by “legal intervention” in 2013 alone?

    Heck, arm floaties while in water sound be federal law since unintentional drowning kills 3000 a year.

    Sad yes, but mass shootings are really not worthy of federal involvement.

  140. Roach Motel says:

    Pry my guns from my cold, dead hands, bitch.

  141. joyce says:

    Damn right it’s about revenge (and not justice). Just like it’s about revenge everytime a pig arrests someone for Contempt of Cop.

    nwnj says:
    September 24, 2014 at 2:34 pm
    #131

    Except this guy targeted cops and not abortion doctors so this is a vengeance operation. Plus how many of them would be able to sleep at night knowing that he’s lurking. This guy will be brought out in a body bag.

  142. Michael says:

    No mention of such studies must be made. Instead all talk must simply concentrate on how restrictive state monopolies must be and how they must limit ‘choice’ and allow inefficient and greedy public workers to burden everyone else. And wouldn’t you know it, the effort is already under way. Here is a paper from the Fraser Institute in Canada calling state education a State Monopoly. The Fraser Institute is resolutely free-market and is funded by the likes of ExxonMobil and the Koch brothers.

    The paper doesn’t claim, because it hasn’t any evidence to support any such claim, that the State school system educates badly or that for-profit schools are a better way to educate a nation. Instead it simply says how bad monopolies are. How they restrict choice.

    Canadians rightly complain about protected industries – whether it’s dairy products, telecoms, banking, or transport – and the consequences in the form of less choice, poorer service, and/or higher prices….

    The paper then begins to talk about education as if it were a ‘protected’ industry. Allowing it to elide the harm done by monopolies in the market, with free education.

    When government is the sole supplier of services, the options for consumers are extremely limited.

  143. Michael says:

    Glad you quoted the Fraser Institute’s wishfull thinking on privatised schools.

    I’ve lately heard noises on the results of Sweden’s experiments with for-profit “free” schools. From The Cardigan of 3 December 2013:
    http://www.theguardian.com/world/2013/dec/03/swedish-results-fall-free-schools-pisa-oecd

    “A few years later and Sweden’s star has dimmed. The 2012 Pisa results show Sweden’s exam results falling abruptly across all three measures of reading, maths and science – with the country recording the largest drop in maths performance over 10 years. Anna Ekström, head of Sweden’s National Education Agency, said in response: “The bleak picture has become bleaker with the Pisa review that was presented today.””

    And this from the FT:
    http://www.ft.com/intl/cms/s/0/dc8bb3b4-29f2-11e4-914f-00144feabdc0.html
    “Scandals in company-run schools have outraged parents further. Public anxiety about the state of Sweden’s schools has put its for-profit model – not just for schools but in other areas of government such as health and social care – at the top of the agenda in next month’s general election.”

  144. The Original NJ ExPat says:

    Packer Fudger must have pulled an all-nighter.

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  146. jj says:

    Over 900,000 homes regain equity in second quarter
    By Ruth Mantell, MarketWatch
    MARKETWATCH — 22 MINUTES AGO
    WASHINGTON (MarketWatch) — U.S. homeowners’ negative equity tumbled last quarter, with the second greatest drop in underwater properties since data tracking started, according to a Thursday release.

    Last quarter there were about 5.31 million homes with negative equity — owners owed more on a mortgage than a property was worth — down 946,000 from the prior quarter, CoreLogic (Symbol : CLGX
    Loading…
    Loading…

    ) , an Irvine, Calif.-based analysis firm, said. That drop for underwater homes was the second sharpest since data collection started in 2009, and far greater than a decline of about 352,000 in the prior quarter.

    “Many homeowners across the country are seeing the equity value in their homes grow, which lifts the economy as a whole,” said Anand Nallathambi, CoreLogic’s (Symbol : CLGX
    Loading…
    Loading…

    ) chief executive.

    The share of mortgaged U.S. properties in negative equity fell to 10.7% in the second quarter from 12.7% in the first quarter and 14.9% in the year-earlier period.

    Here’s what’s happening: Rapidly rising home prices have enabled troubled homeowners to regain equity. Having positive equity can help owners to refinance or sell a home, further firming their pocketbooks.

    Financial stability will likely also provide some psychological relief to owners, and could support consumption. However, owners who have regained equity aren’t necessarily in the clear financially. CoreLogic (Symbol : CLGX
    Loading…
    Loading…

    ) reported that among properties with positive equity, 19% have a relatively slim level of equity and may have trouble refinancing or getting a new loan. Even worse, some could fall back into negative-equity territory if there’s a slip in home prices.

    It may take longer for still-troubled properties to bounce back to financial health given that price acceleration has started to cool down.

    Certain markets are doing much worse than others when it comes to underwater properties, with just five states accounting for almost one-third of negative equity across the U.S. These states included Nevada, where 26% of mortgaged homes were underwater in the second quarter, followed by Florida, where the share was 24%, Arizona, where it was 19%, and Illinois and Rhode Island, which both had a share of about 15%.

  147. Toxic Crayons says:

    Shaneen Allen offered PTI by prosecutor who freed Ray Rice amid massive public pressure from women’s groups and gun rights advocates

    A.C. to allow Phila. woman carrying gun to avoid jail

    http://www.philly.com/philly/news/new_jersey/20140925_Prosecutor_agrees_to_pre-trial_intervention_for_Shaneen_Allen.html

  148. turdblossom has taken trolling to new heights (lows?).

  149. anon (the good one) says:

    @Reuters:
    U.S. jobless claims up less than expected, point to firming labor market

  150. Toxic Crayons says:

    Anxiously awaiting new law requiring residents of NJ all buy “bear proof” trash cans in knee jerk reaction to recent fatal bear attack.

    http://www.nj.com/opinion/index.ssf/2014/09/bears_too_close_for_comfort_prediction_came_tragically_true_mulshine.html#incart_river

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

    Reading article about higher ed that is guaranteed to provoke hissing in the faculty lounge. But a consultant points out that yield must be paid and he sees a meltdown in higher ed.

    Great quote from the consultant: “for those college presidents unwilling to reboot, I’ve got one word for them: Detroit.”

  152. Bystander says:

    JJ,

    Perhaps the doublewide in Flagstaff gained value but no equity rise in haughty CT this year. Still, article like this creates false sense that bagholder can unload at 2007 prices. Just saw one today, paid 499k in March ’07 and asking 500k. Not a thing done to the place..enjoy winter and beyong buddy..you are just another log on the pile.

    Per WSJ:

    “Home prices, however, fell 3.2% from June 2013. The median sales price of a single-family home statewide decreased to $276,000 from $285,000 in June 2013.
    Second-quarter sales fell by about 5%, with 6,679 sales, compared with 7,020 in the second quarter of 2013.

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

    [156] toxic

    Reminds me of the bear that wandered through my neighbors’ yards in the brig a few years back. I was the only one with a fully fenced yard and I’m convinced that kept my Boston from becoming a bear snack. Cuz she would have gone at the bear and it wouldn’t have ended well.

  154. nwnj says:

    #156

    I’m still waiting for the full story to come out. Either those kids were doing something very stupid or that bear had a reason to be very pissed off. I just can’t imagine a bear taking on a group of five people for no reason.

  155. crorkz says:

    h6cwZT I have been absent for a while, but now I remember why I used to love this website. Thanks , I’ll try and check back more often. How frequently you update your web site?

  156. Toxic Crayons says:

    161. They are not afraid of people at all anymore and there are more of them. I remember bear sightings were really rare when I was a kid. Now I see them multiple times a year…sometimes wandering residential neighborhoods. That’s the problem.

  157. Anon E. Moose says:

    Twerp [142];

    @BloombergNews:
    One-hundred-sixty mass shootings have killed 486 people and injured 557 more since 2000, the FBI says

    In the first 6 months of 2012 alone 228 people were killed in Obama’s hometown Chicago, all disarmed by law. That’s over one half more Americans than were killed in the war zone of Afghanistan (144) during the same period.

    http://www.huffingtonpost.com/2012/06/16/chicago-homicide-rate-wor_n_1602692.html

  158. Anon E. Moose says:

    Twerp [155];

    @Reuters:
    U.S. jobless claims up less than expected, point to firming labor market

    Real unemployment at 12%.

    http://www.forbes.com/sites/louisefron/2014/08/20/tackling-the-real-unemployment-rate-12-6/

  159. Anon E. Moose says:

    Redux [163];

    “More than two-thirds of the incidents analyzed by the FBI happened at businesses or schools. In many cases, they happened so quickly that the shooting was over before police arrived. Of 64 incidents analyzed, 44 were over in five minutes or less. Of those, 23 ended in two minutes or less.”

    When seconds count, the police are just minutes away.

    http://www.usatoday.com/story/news/nation/2014/09/24/active-shooter-incidents-rising-fbi-finds/16158921/?csp=eMail_DailyBriefing_50595268

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

    I remember when I first noticed this parking phenomenon in Mass. in the early 80’s and I called it “Jersey Parking” even though I had never been to NJ.

    Now it seems, some folks have a solution. Perfect confluence of the right vehicles in the right space at the right time.

    https://gma.yahoo.com/blogs/abc-blogs/jeep-owner-gets-last-laugh-corvette-drivers-greedy-233800315–abc-news-topstories.html

  161. 1987 Condo says:

    #166..not sure what this really did, in fact the Jeep probably could have gotten a ticket. Now if he blocked in the Vette, or say accidentally scraped the entire side of his car while trying to get into the rest of the space..that would have made an ..impact.

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

    [167] condo

    Looked like he did make it really hard to get in the driver’s side of the vette, which would have sent a message. In fact, if I had a crappy car, I would have parked about 3 inches away, forcing the guy to go in the passenger side.

    As for scraping, I wouldnt go for that and it would have required some work anyway.

    As for a ticket, yeah, that’s possible but how likely would that have been? Low risk.

    Supposedly, there is video of the vette owner’s reaction. I am sure it is priceless and I hope it goes viral.

  163. 1987 Condo says:

    168..you are right, I was not thinking about the car door getting in….I have to remember that ….

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

    [166] redux

    Watch it if you want but its pretty lame. No histrionics. In fact, the vette driver seemed completely matter of fact about it. Must happen a lot.

    http://www.youtube.com/watch?v=BFC8_q_PBO8

  165. 1987 Condo says:

    I guess I was looking for a more “permanent” solution, lol!

  166. Pigs love Joyce says:

    Joyce one for you.

    http://youtu.be/RBUUO_VFYMs

  167. Ottoman says:

    Liberals are the ones who keep the government and corporations in line. Without liberals, half of you would have never existed thanks to lack of regulations killing your grandparents. Unfortunately, there are too many morons ie conservatives, Republicans, libertarians, centrist Democrats, NJ REREport regulars, etc. that bow to monied power as their gods and saviors. And even those right wing dumbasses who recognize that corporations can’t be trusted, buy into the lie that government doesn’t work. Conveniently ignoring the fact that the rich have a vested interest in portraying the government as ineffective.

  168. jj says:

    My daughters old pre-school now has receptionist in a bullet proof booth taking the sign ins. She has a dedicated landline in it with 911 on speed dial. She also has an auto lock botton that locks every class room door that are all steel with a push of a button. Only two hall ways leading down to classes. first door has to shut before second door will open and both can be locked at once by buzzer. It is a “man-trap” Also has emergency alerts system to parents via email and text and phone. They also have a staging area for parents in the case of shooting and kids have been through the drill.

    It is a catholic church the pre-school is attached to and has public bathrooms, parking, water fountains and usually coffee pot brewing and is open 7 days a week 24 hours a day. Bascially cops randomly stop there all the time. If you are cop you know where bathrooms are etc.

    So the FBI said the school is now a hard target for shooters. The school asked will this help kids getting shot. The agent said absolutely not. The Luthern pre-school and public preschool nearby did not put this in. The shooter will just pick another target.This will only prevent your kids from maybe getting shot.

  169. The Original NJ ExPat says:

    You never know. I was at a campground in the Poconos when a bear came wandering through (over 30 years ago). We threw it some bread and cheese while we got into the van. Then a really small dog came charging the bear, the bear ran, the dog followed and the bear climbed a tree.

    Reminds me of the bear that wandered through my neighbors’ yards in the brig a few years back. I was the only one with a fully fenced yard and I’m convinced that kept my Boston from becoming a bear snack. Cuz she would have gone at the bear and it wouldn’t have ended well.

  170. Libturd at home says:

    Ottoman.

    Sounds awfully convenient but it’s absolutely untrue. I wonder how many left-wing leaders are part of that 1% who they so villify.

    I have an older uncle who was a former state senator in Maryland. He served three terms. He is an ultra liberal and would be the first to tell you how corrupt state government has become. Nearly every decision made is based on who paid the most for it. And his benefits both while serving and in retirement disturb even him.

    Most Utra-liberals are the worst as they have a terrible superiority complex. No one with an opposing opinion could even possibly be right because they are presumed to be unintelligent. I see this frequently in the land of placenta encapsulation and child-directed daycare. Believe me, the right wing rantings are equally as dumb as the far left. But even worse than the Fox and MSNBC rabble rousers are their robotic followers.

    Keep on cheering brother!

  171. Libturd at home says:

    Oh yeah. Baa.

  172. Bystander says:

    Moose 164,

    It is articles like this that pin-heads like Michael don’t get. This labor market is not in a strong position to handle rampant inflation..it will rip society apart. Without manufacturing how does inflation look? We just moved entire project to India in one month and cutting 5 workers in US. Companies will pay more for sake of good ole USA? Please..rather than take faux media and govt. narratives, look around at family and extended family. Right now, I have 2 brothers basically surviving on one income in Ny metro area. A sister, unmarried,making 50k/year in CT and 2 sisters, with kids, in DC surving on single income. We are all college grads in mid-30s to mid-40s.Personally, I was finally offered FT by the IB I have been consulting at for about 2 years. I tried to continue at high daily rate but they are axing people. I could not replicate it anywhere so I took 30% cut to get FT and benefits.

  173. crorkz says:

    cDzZYs fantastic post, very informative. I ponder why the other experts of this sector don’t understand this. You must proceed your writing. I am sure, you’ve a huge readers’ base already!

  174. Bystander says:

    That said, I have received a tremendous # of calls lately about FT gigs (lots of 125k and under.) Pay is still sub-par. We still need a big swing towards employees having some leverage.

  175. jj says:

    125K is the sweet spot.

    Meaning a dept has a head of , a second in charge, maybe a few staffers or low level people.

    The 125 level you can get really good folk age 28-35 who will do the lions share of work.

    There only real shot is if the second in command leaves. And even if they get that job usually they dont give the second in command the number one jub they often go to outside.
    Bystander says:

    September 25, 2014 at 12:30 pm

    That said, I have received a tremendous # of calls lately about FT gigs (lots of 125k and under.) Pay is still sub-par. We still need a big swing towards employees having some leverage.

  176. Anon E. Moose says:

    Nom [166];

    I saw someone do that in a ~10 spot lot to a local deli when I was a teenager. I just blocked the guy in across both spots he was taking. He was coming out of the store and saw me, started yelling. I just said – you wanted to make me wait for you, now you’ll wait for me. I got what I needed, got back in my car and drove a way — all before anyone could have arrived to do anything about it. He grudgingly acknowledged my “ballz”.

  177. Anon E. Moose says:

    Reflux [163, 164];

    Speaking of grudging admiration, I have that for twerp. It takes real determination to be so very wrong for so very long. A lesser-determined person would have been beaten over the head by reality as to how wrong they are, and somewhat moderated their views.

  178. Juice Box says:

    Sigh, should we bring back the homeland security advisory system and raise it to kiss your a**S goodbye?

    http://www.nydailynews.com/news/world/isis-planned-attacks-subways-nyc-paris-article-1.1952521

  179. The Original NJ ExPat says:

    Does anyone think grim is locked out of his own site? I still can’t get here from my “official” work network.

  180. Bystander says:

    One last anecodote on life today, two Indian guys at work, both out last week. Both Sapient, H1 visa types and come to find out one took his family on trip through Turkey including expensive balloon rides etc. The other was moving into a home in Darien bought for 800k. We all do MO/BO change work so not super pay. How can they afford it? Well both wives are H1 and work at banks as well. Dawned on me that Indian men have to marry India women. They have a whole pool of high earners at their choosing. Their dual incomes outpace everyone. I told an Indian friend of mine that the only downside is that you better like brown n*pples. He laughed and recalled white gf with rosy pink ones..

  181. Juice Box says:

    re: “I still can’t get here from my “official” work network.”

    Some tool is trying to send you a message.

    The message is get back to work.

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

    [175] expat

    Depends on the bear. I know my dog would have been unrelenting. All the bear would have needed to do was make one quick move and no more dog.

    Would the bear turn tail? Most likely but I am glad I didn’t have to find out.

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  184. Anon E. Moose says:

    Juice [188];

    Sure its not another one [quietly, this time] being thrown under his O-ness’s bus? Usually such things are announced after elections, not six weeks before, unless the Dems are trying to get out in front of the “shellacking” they expect and rightfully deserve.

  185. Holder oughta be doing a frog march into a Supermax.

  186. Ragnar says:

    Liberals are the people who keep government in line? Like FDR trying to pack the supreme court while the journalists cast him in heroic poses? Like the liberal journalists who said Lenin, Stalin and Mao were the wave of the future? Are the liberals protesting Venezuela’s or Cuba’s rights abuses?

    A take on the failure of modern intellectuals, roughly equal Otto’s “liberal”, on their failure to safeguard individual rights:
    “Your kind of intellectuals are the first to scream when it’s safe—and the first to shut their traps at the first sign of danger. They spend years spitting at the man who feeds them—and they lick the hand of the man who slaps their drooling faces. Didn’t they deliver every country of Europe, one after another, to committees of goons, just like this one here? Didn’t they scream their heads off to shut out every burglar alarm and to break every padlock open for the goons? Have you heard a peep out of them since? Didn’t they scream that they were the friends of labor? Do you hear them raising their voices about the chain gangs, the slave camps, the four-teen-hour workday and the mortality from scurvy in the People’s States of Europe? No, but you do hear them telling the whip-beaten wretches that starvation is prosperity, that slavery is freedom, that torture chambers are brother-love and that if the wretches don’t understand it, then it’s their own fault that they suffer, and it’s the mangled corpses in the jail cellars who’re to blame for all their troubles, not the benevolent leaders! Intellectuals? You might have to worry about any other breed of men, but not about the modern intellectuals: they’ll swallow anything. I don’t feel so safe about the lousiest wharf rat in the longshoremen’s union: he’s liable to remember suddenly that he is a man—and then I won’t be able to keep him in line. But the intellectuals? That’s the one thing they’ve forgotten long ago. I guess it’s the one thing that all their education was aimed to make them forget. Do anything you please to the intellectuals. They’ll take it.”

  187. OTOH, just use Holder to start a human centipede.

  188. rags (193)-

    Who said that? Priceless.

  189. Toxic Crayons says:

    You funny…

    Ottoman says:
    September 25, 2014 at 11:46 am
    Liberals are the ones who keep the government and corporations in line.

  190. Ragnar says:

    W/ISIS, That was from Ayn Rand’s Atlas Shrugged. Spoken by a character of a corrupt but relatively truthful union boss, giving advice to a politician he’s making a deal with.

  191. Michael says:

    Well said.

    Ottoman says:
    September 25, 2014 at 11:46 am
    Liberals are the ones who keep the government and corporations in line. Without liberals, half of you would have never existed thanks to lack of regulations killing your grandparents. Unfortunately, there are too many morons ie conservatives, Republicans, libertarians, centrist Democrats, NJ REREport regulars, etc. that bow to monied power as their gods and saviors. And even those right wing dumbasses who recognize that corporations can’t be trusted, buy into the lie that government doesn’t work. Conveniently ignoring the fact that the rich have a vested interest in portraying the government as ineffective.

  192. Michael says:

    We have went through the worst economic mess since the Great Depression. Did you expect everyone to be doing great the past 7 years? Things will change, relax. Another person left my wife’s dept for better pay. This was not happening until the past 6 months. That’s a strong sign for me. That’s an insane turnover during the past 6 months. No one left from 2010-2013.

    Why can’t our labor market handle inflation? It can. Oil is traded in dollars, that means our inflation affects the entire world. Moving to India will not help you avoid inflation.

    Bystander says:
    September 25, 2014 at 12:23 pm
    Moose 164,

    It is articles like this that pin-heads like Michael don’t get. This labor market is not in a strong position to handle rampant inflation..it will rip society apart. Without manufacturing how does inflation look? We just moved entire project to India in one month and cutting 5 workers in US. Companies will pay more for sake of good ole USA? Please..rather than take faux media and govt. narratives, look around at family and extended family. Right now, I have 2 brothers basically surviving on one income in Ny metro area. A sister, unmarried,making 50k/year in CT and 2 sisters, with kids, in DC surving on single income. We are all college grads in mid-30s to mid-40s.Personally, I was finally offered FT by the IB I have been consulting at for about 2 years. I tried to continue at high daily rate but they are axing people. I could not replicate it anywhere so I took 30% cut to get FT and benefits.

  193. Fast Eddie says:

    G0d bless the rich.

  194. Anon E. Moose says:

    Re [194];

    Why should he get to be at the front?

  195. Sweet blog! I found it while surfing around on Yahoo News. Do you have any tips on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Appreciate it

  196. Juice Box says:

    Click at your own RISK! All Disclaimer ever written by a billion lawyers for the last 10,000 years apply!

    Preface.

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    http://diehipster.wordpress.com/

  197. Juice Box says:

    Re: 205 – I should have referenced the human centipede.

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  199. “Chef Emeril Lagasse shot to fame as the host of a popular Food Network show that encouraged amateur chefs to try their own hands in the kitchen. But despite being one of the most recognizable celebrity chefs in the country, Lagasse’s outlook on his future as a restaurateur — and the restaurant industry in general — is fairly grim. “I have nowhere to go, really — other than broke,” said Lagasse at a recent event promoting his upcoming TNT reality series On the Menu.

    “It’s becoming a very challenging industry to become a very successful average restaurateur,” continued Lagasse. “I can’t charge $300 a person in my restaurant or I would not be in business. Am I using any different ingredients? Not really. Am I using any caliber of service staff? I don’t think so. I think our service is as good or better than most places.”

    “And then you add all the Obama nonsense to what it’s become in the last several years. I don’t have anything against Mr. Obama. I’m just saying the way that, you know… the government should stay out of things. […] Pretty soon, they’re going to wipe a lot of the middle restaurateurs and restaurant cooks. […] If it continues, then watch: you’re going to have high-end, and you’re going to have fast food, and you’re going to have chain restaurants.”

    Lagasse went on to lament that the areas in which he operates restaurants — including New Orleans, Las Vegas, and Bethlehem, Pennsylvania — have been hit particularly hard by the problems in the economy. “Somebody having a $12.99 meatball and pasta dish at my restaurant means a lot to them,” he said. “That’s like a special occasion.”

    “The one thing that I can say is that I’m pretty connected to America — because I’m a good listener, and I think that’s what makes a great restaurateur, is that you’re a good listener,” he said. “I don’t have the solution. If I did, I could run for president. But I don’t have the solution. All I can tell you is that the balance of the economic cycle is out of whack.” – – Scott Meslow

    http://theweek.com/article/index/268690/speedreads-emeril-lagasse-i-have-nowhere-to-go-really–other-than-broke

  200. If “human centipede” appears here another five times or so, I think Interpol will start monitoring this site.

  201. Juice Box says:

    Jeter – “watching your own funeral”

    No truer words have been spoken.

  202. chicagofinance says:

    Same with me…locked out from work….can pick it up on my phone though…..

    The Original NJ ExPat says:
    September 25, 2014 at 1:16 pm
    Does anyone think grim is locked out of his own site? I still can’t get here from my “official” work network.

  203. Anon E. Moose says:

    Michael;

    How does this fit with your recovery cheerleading?

    More than five years after the official end of the recession, the Public Religion Research Institute finds, only 21% of Americans believe the recession has ended.

    Two recent reports help explain the disconnect between the official jobs numbers and the economic experience of most Americans. Every fall, the U.S. Commerce Department issues a detailed analysis of trends in income, poverty and health insurance. Although economists have some technical quibbles with the Commerce data, the broad trends are unmistakable.

    This year’s report found that median household income was $51,939 in 2013, 8% lower than in 2007, the last year before the recession. Households in the middle of the income distribution earned about $4,500 less last year than they had six years earlier. No wonder 56% of Americans told the Pew Research Center that their incomes were falling behind the cost of living.

    The Federal Reserve’s triennial Survey of Consumer Finances confirms these findings. Between 2010 and 2013, the Fed reports, median family income fell by 5%, even though average family income rose by 4%. This is, note the authors, “consistent with increasing income concentration during this period.” Only families in the top 10%, with annual incomes averaging nearly $400,000, saw gains during these three years.

    http://online.wsj.com/articles/william-a-galston-the-recovery-that-left-out-almost-everybody-1411511226

    And please don’t use this as a springboard to start in about “income inequality”. The USSR solved income inequality by taking it away from everyone. The point here is that the so-called recovery isn’t. The US just recently climbed back to the same number of jobs that we had pre-recession. Good news until you realize we added another 1.5 million working-age population since then.

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