NJ economy improves, fewer bankruptcies

From the Record:

NJ bankruptcies fall in 2015, as economy improves

Consumer bankruptcies in New Jersey fell 6 percent last year, bringing the figure to about the same as in the first year of the recession and offering another sign that the economy is strengthening.

The number of business bankruptcies in the state dropped by 25 percent in 2015, according to data just released by U.S. District Bankruptcy Court in Newark. The annual total of 718 business bankruptcies was nearly 14 percent lower than in 2007, the last year before the recession.

Business bankruptcies in Bergen County declined about 1 percent in 2015, while consumer bankruptcies fell 6 percent. Consumer bankruptcies slid 2 percent in Passaic County; the number of business bankruptcies in the county rose slightly.

North Jersey bankruptcies in 2015 included MCD Sports, the owner of bowling alley Parkway Lanes in Elmwood Park, and Marburn Stores, the small Fairview-based chain of home-furnishing stores, both of which filed for Chapter 11. Les Metalliers Chamennis Corp., a Paterson welding company whose high-profile work included renovating the Statue of Liberty’s 13-foot bronzed torch and flame, filed for Chapter 7 liquidation.

Bankruptcy attorneys said one reason for the decline statewide was the improving economy. However, they warned that the backlog of home foreclosures in state courts will ensure there are numerous bankruptcies still to come.

“The economy has marginally rebuilt itself,” said Ron Levine, a Hackensack bankruptcy attorney. “Unemployment is much lower than it used to be.”

That’s helped stop consumers and businesses from having to turn to bankruptcy, he said. Furthermore, he added, “banks have been more diligent in giving out credit after the [economic] crash,” reducing the likelihood lenders will get in over their heads.

Bankruptcy filings will stay at elevated levels until foreclosures diminish, the attorneys said. Although the number of new lender foreclosure filings — not including condominiums — fell 27 percent in 2015 to 35,733, the number is still high, and that fuels the bankruptcy figures, as borrowers seek refuge from foreclosure in the Bankruptcy Court.

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

73 Responses to NJ economy improves, fewer bankruptcies

  1. leftwing, tarred and feathered by a big bank says:

    first.

    nothing to say, except stay warm

  2. Libturd in the City says:

    Oil is at 27.60.

    Everyone switch back to oil heat. Pronto!

  3. The Great Pumpkin says:

    Yes, and these people in the real estate business had it all wrong. Not much to buy in life. Homes are prob the most meaningful purchase. You can call owning a home a headache, but it sometimes represents the best memories of your life. If you have a family, life is built around that home. The millennials were never going to miss out on this. It’s naive to think otherwise. The millennials will have money in the next decade, and I have no doubt in my mind that the economy will be blazing due to the millennials finally taking up their role in becoming home buyers. Housing drives the economy. 2020’s might be the best economy of this century. Def looking like it.

    “There was a time not so long ago when many in the real estate business worried that millennials—scarred by the housing crisis, drawn to apartment living in big cities—might never buy homes at the rate of earlier generations. Those fears seem to have dissipated, mostly because millennials keep telling pollsters that they want to buy homes and that actually, living in the suburbs wouldn’t be so bad.

    Still, the generation has been slower to enter the housing market than previous cohorts. That’s probably because they’re starting families later in life and because income growth hasn’t kept up with rising home prices.”

    http://www.bloomberg.com/news/articles/2016-01-19/millennials-here-s-what-your-first-home-might-look-like

  4. chicagofinance says:

    An Inconvenient Truth

    If you crank the heat in your house you will feel warmer. Barry keeps his heat at 78 degrees…..especially when he lived in Chicago……

    The sh!t is cheap….do your part to support fracking……

    leftwing, tarred and feathered by a big bank says:
    January 20, 2016 at 6:35 am
    first.

    nothing to say, except stay warm

  5. The Great Pumpkin says:

    Capitalism is pretty simple, just understand booms and busts. That’s why this system is also a joke, all it does is produce extremes in the economy. But hey, this is what everyone wants, right? The swings are where money is made and money is lost. If we used a system that involved more stability, then you won’t see people losing money overnight, but you also won’t see people making money overnight. It’s all relative.

    I wonder how high this rebound will be in oil when it comes. Just like they over invested in the oil market causing huge drops in the price, the lack of investment will now lead to a huge swing in the price when demand is not met in a couple of years due to lack of investment.

    “Unprecedented cutbacks in spending on new supply — a 16 percent investment reduction this year will follow last year’s 20 percent decline — is setting the stage for a recovery, but it will be 2017 before this materializes, the IEA’s Birol predicts. The scale of the spending cuts means the rebound will be all the harder when it comes, according to Crescent Petroleum Co.

    “This will have an impact in the future, making the cycle more extreme,” Majid Jafar, chief executive officer of U.A.E-based Crescent, said in an interview.”

    http://www.bloomberg.com/news/articles/2016-01-20/davos-view-on-oil-lower-for-longer-turning-into-something-worse

  6. chicagofinance says:

    It only hurts when we laugh

    A friend sends a laugh from the crowd. She writes:

    An elderly man had a stroke and an ambulance took him to a hospital as his family followed. After some time, an ER physician appeared wearing a long face.

    “I’m very sorry to have to give you folks some very bad news,” the doctor said. “Your grandpa’s heart is beating but he’s brain-dead.”

    Whereupon, Grandma wailed: “Oh, dear God! We’ve never had a liberal in the family before!”

  7. FKA 2010 Buyer says:

    In the past, I have been hesitant in getting a mortgage from any financial institution other than a bank but it really doesn’t matter anymore.

    Big banks continue retreat from mortgages

    Big banks are lending less to homebuyers, or they’re making less on loans — and sometimes, it’s a combination of both.

    Some are making less on home loans, in part owed to the Fed and its year long zero interest rate policy. But the trend also coincides with a rise in nonbank lenders, like Quicken Loans, that have been gobbling up market share in mortgages in recent years.

    http://www.cnbc.com/2016/01/19/big-banks-continue-retreat-from-mortgages.html

  8. Comrade Nom Deplume, back at sea level says:
  9. Ragnar says:

    My snowblower engine started after only a few pulls this morning. So I’m set.

  10. Ragnar says:

    I see someone commenting today who already promised to leave.
    Suggests what his promises are worth.

  11. Ragnar says:

    What worries me about the upcoming elections is that the top polling Republican is an unprincipled fascist, and the two top polling Democrats are principled collectivists.

  12. leftwing says:

    7. Loans. Banks are bailing because dealing with the consumer is the new third rail of finance. Just not worth the potential future exposure from populist regulation. Dimon was on from Davos, was point blank blunt. Would not do, nor would his Board ever approve, a WaMu type deal again. Bank assets (loans) are shrinking rapidly – that used to be the way the ‘largest bank’ in America was measured. No more. They can’t get out of the business fast enough, the race is to the bottom to shed consumer loans. Just not worth some headline seeker banging you for $5B.

    8. Opens up an entirely new avenue for ‘environmental reparations’.

  13. Libturd in the City says:

    I would take Trump over Hillary, but definitely Bernie over all three. As long as it’s not Hillary, it will be entertaining and not another 4/8 years of the same old that we’ve seen since Bush 1.

  14. FKA 2010 Buyer says:

    BankUnited stops originating retail mortgage loans

    BankUnited will no longer offer retail residential mortgage loans to consumers, according to an article in the Miami Herald.

    The South Florida bank announced it also laid off some its workers.

    South Florida’s largest locally based bank said new residential mortgages weren’t generating enough business but current mortgage holders won’t be left in the lurch.

    “We remain committed to honoring all of our current loan commitments,” said Mary Harris, a spokeswoman for BankUnited.

    The news closely follows Walter Investment Management’s announcement that Ditech Financial exited its distributed retail lending channel due to changes in the market.

    “Throughout 2015 we moderated our investment in the distributed retail channel given current and expected market conditions, as well as recent regulatory considerations, and subsequently made the decision to exit the channel,” said Denmar Dixon, Walter Investment’s vice chairman, CEO and president.

    Instead, Ditech choose to go a different route and focus its efforts on growing its correspondent lending division services thanks to strong growth in the space over the last 18 months.

    And these two are likely to only be the start of a new trend out of retail mortgage loans.

    One industry source familiar with the bank said BankUnited had bet big on expanding its residential lending business last year but couldn’t generate enough volume because of compliance costs and slowing Latin American investment in Miami.

  15. Libturd in the City says:

    I don’t see why it matters at all who is holding your mortgage. I’ve done all of mine through a cheap originator who decimated the best offer from what any bank would give me.

  16. Juice Box says:

    Cramer sounded fearful this morning, using the word depression. Sound the horn for another QE this time stocks?

  17. Raymond Reddington formerly Phoenix says: says:

    Making money with money. Why go to college, why try to cure cancer, etc.
    Investments make one richer much faster than actually doing work.
    People bitch about doctors and what they charge, hey, at least they get their buttocks off a chair and physically do something.
    Banks want to operate like Western Sky and make 30% or more for doing nothing.
    Capitalism unchecked is like a cancer cell. Grows uncontrolled until it sucks the life out of the very thing that it needs to survive.
    Starve the beast. Cut expenses, stop shopping except for those things you really need.
    Already happening.
    Malls closing, cut cable, kids living at home.
    Let grandpa hold on to his overpriced crapshack (thanks fast eddie) until the price drops to something reasonable (including tax burden that comes from the same group of retirees).
    Kids keep buying faster phones. They are texting/searching better prices, saving money, better deals. They need that processing power-it’s efficient. They have more data to process in order to keep up a standard of living that is declining. Sure they play too but so did you.
    Too many material goods just tie you down. Bag of cash and a cell phone is much better. In old goat days, when you worked at the same job for 30 years, got a pension, lifetime bennies, and a gold watch w/retirement party, yeah, that house was like a home port you come to each night.
    No more job security, part time work without bennies, 401k with thieves robbing it day and night, you have to stay light on your feet, make good decisions, be willing to move etc in order to survive. Or live like the other half does-lay down and let the govt pay your way….

  18. Libturd in the City says:

    PLUGs at $1.34. :P

  19. Cramer crying for moar QE?

    Plus ca change…

  20. Libturd in the City says:

    Why is Cramer crying except for higher ratings? Oil prices are the most likely cause of this drop. How will QE save the market?

  21. Libturd in the City says:

    IMO…what will turn this market around is demand for oil. Perhaps another government rebate on car purchases to bring demand forward again? :P

  22. D-FENS says:

    It’s remarkable…just a few years ago people were panicked about “peak oil”.

  23. D-FENS says:

    From Science magazine’s “The Next Oil Crisis Looms Large—and Perhaps Close,” Aug. 21, 1998:

    This spring . . . the Paris-based International Energy Agency (IEA) of the Organization for Economic Cooperation and Development (OECD) reported for the first time that the peak of world oil production is in sight. Even taking into account the best efforts of the explorationists and the discovery of new fields in frontier areas like the Caspian Sea . . . sometime between 2010 and 2020 the gush of oil from wells around the world will peak at 80 million barrels per day, then begin a steady, inevitable decline, the report says.

  24. The Great Pumpkin says:

    What a joke. One year, there is not enough oil to go around, so it’s going for $4.o0 dollars a gallon. Now there is too much oil, and the price is rapidly dropping. No one sees anything wrong with this picture? I’m sorry, how is this economic system efficient? Am I missing something? It’s efficient at taking advantage of the market participants from my pt of view.

    Libturd in the City says:
    January 20, 2016 at 10:59 am
    IMO…what will turn this market around is demand for oil. Perhaps another government rebate on car purchases to bring demand forward again? :P

  25. D-FENS says:

    24 – fcuk you

  26. Comrade Nom Deplume, screwing around at work says:

    Break out those Dow 15K hats. I know you all saved yours.

    At least we vultures will eat. And on that note, time to mine some salt.

  27. [11] I say give the unprincipled fascist a chance.

  28. The best thing for low price is lower prices. As companies lay down their rigs they are never in a position to restart production instantly when demand rises, for whatever reason that may be. So the demand spikes and so does the price. The Saudis would love $70 average oil prices, but not constant $70. They love it when it swings down because it kills all the alt energy and high mpg efficiency endeavors and love it when it swings up because of all the profits they make at the top. In other words, they love a sine wave when it comes to price. A constant price lets new ventures know exactly what their risk/reward is. A highly variable price drives those entrepreneurs away.

  29. Ben says:

    What a joke. One year, there is not enough oil to go around, so it’s going for $4.o0 dollars a gallon. Now there is too much oil, and the price is rapidly dropping. No one sees anything wrong with this picture? I’m sorry, how is this economic system efficient? Am I missing something? It’s efficient at taking advantage of the market participants from my pt of view.

    So the market ramped up production due to high demand and we watched prices fall? You are complaining about this. The market has done right. I love how people scream for higher prices in everything stocks…housing…salaries…but if the price of oil ever rose, it’s evil.

  30. D-FENS says:

    Respectfully Ben, I think my response was more elegant.

  31. Libturd in the City says:

    You guys crack me up.

  32. When NJ gasoline was 99 cents per gallon in 1997 I don’t remember a lot of news stories every day about the world ending because oil was too cheap. I just remember a lot of SUVs being added to the road every day and the print and tv ads for same didn’t even include mpg numbers.

  33. SKF is doing quite well;-)

  34. FKA 2010 Buyer says:

    Wait, I thought Iran was evil.

    Oil Prices May Fall Further as Iran Returns, UBS’s Weber Says

    Crude oil prices may drop further as world powers lift sanctions on Iran and production in the Islamic Republic ramps up, UBS Group AG Chairman Alex Weber said in an interview.

    “I don’t see a bottoming out of oil prices — and a re-spiking — anytime soon,” Weber told Bloomberg Television’s Francine Lacqua and Hans Nichols at the World Economic Forum in Davos, Switzerland. “The lifting of Iran sanctions, in my view, will continue to add supply.”

    Iran’s oil ministry issued an order earlier this week to increase production by 500,000 barrels a day as the country moved ahead with plans to add supply to a glutted market even at the risk of contributing to a price collapse.

    Buyers of Iranian crude are free to import as much of its oil as they want after the International Atomic Energy Agency determined that the country had curbed its ability to develop a nuclear weapon.

    Weber added his voice to a growing consensus in Davos — and the oil industry — that crude prices will stay lower for longer. Brent crude, the global benchmark, slipped to $27.67 in intraday trading Monday, its lowest since 2003. Glencore Chairman Tony Hayward said in an interview on Tuesday oil prices weren’t likely to recover for some time, saying the market was seeing a “supply shock”.

    Brent futures were down 60 cents to $28.16 a barrel at 7:42 a.m. in London. The benchmark has fallen 41 percent over the last year.

    The International Energy Agency on Tuesday said “the oil market could drown in oversupply,” pushing prices down further. The Paris-based organization cited a potential demand slowdown from the mild Northern Hemisphere winter and Iran’s return to the energy market.

  35. 1987 Condo says:

    Dow down 500+…Looking like we are about 700 points from 20% retracement from recent high

  36. The Great Pumpkin says:

    Supply and demand? What? How is the current price going down? The top market leaders decided that too much competition was coming down the pipe line and decided to slam the price by flooding the market. What the hell does this have to do with supply and demand? Give me one specific example of what the price of oil has to do with supply and demand? They make whatever price they want. Want a higher price, just hold back the oil. Want a lower price, just flood the market.

    What pisses me off is that they make up stupid excuses for as to why the price of oil is so high……things like “limited inventory” “short supply” “storms” “peak oil” “political instability” “war” and I can go on and on. They use this to justify the price, which from what I am seeing is total bs. How can oil be in short supply one minute, and flooded the next? This makes me sick. The economic system is a joke. It’s a manipulated system that has nothing to do with supply and demand. How long is it taking for these gas stations to lower the price of gas? Why? I love when there is a manufactured scare, the price at the pumps rise faster than the price of oil. When the price of oil crashes, why don’t the gas prices reflect it? The prices don’t reflect supply and demand, they reflect outright manipulation by the market participants.

    Btw, F U too!

    Ben says:
    January 20, 2016 at 11:44 am
    What a joke. One year, there is not enough oil to go around, so it’s going for $4.o0 dollars a gallon. Now there is too much oil, and the price is rapidly dropping. No one sees anything wrong with this picture? I’m sorry, how is this economic system efficient? Am I missing something? It’s efficient at taking advantage of the market participants from my pt of view.

    So the market ramped up production due to high demand and we watched prices fall? You are complaining about this. The market has done right. I love how people scream for higher prices in everything stocks…housing…salaries…but if the price of oil ever rose, it’s evil.

  37. The Great Pumpkin says:

    36- the f u was for d-fens

  38. chicagofinance says:

    It sounds as if you have a premature ejac^lation problem……go see a doctor….

    Ragnar says:
    January 20, 2016 at 9:33 am
    My snowblower engine started after only a few pulls this morning. So I’m set.

  39. D-FENS says:

    FCUK (French Connection United Kingdom) is a clothing line Michael. I thought you might be interested. No need for cursing. They also have a line of fragrances…including FCUK him for men.

    Fragrances[edit]
    French Connection has produced a fragrances as an extension to the main clothing brand. This is a partial list

    Eau de Fcuk No. 1, No. 2, No. 3 – men’s range introduced 2000 and women’s fragrances in 2001.
    Fcuk Her and Fcuk Him (2003) – Original women’s fragrance by Zirh/Shiseido and men’s fragrance by James Krivda.
    Fcuk Connect Her and Fcuk Connect Him (2007) – Men’s and women’s ranges with base notes including musk.
    Fcuk Friction Her and Friction Him (2012) – Women’s fragrance includes notes of coconut and vanilla, men’s includes citrus.

  40. Libturd in the City says:

    “It sounds as if you have a premature ejac^lation problem……go see a doctor….”

    Be careful which one you see. There’s one from Montclair who likes to splew on his patients when they are gassed.

  41. chicagofinance says:

    Jerry…Jerry….Jerry Lewis…..the Jerry Lewis MDA….telethon….

  42. Not Pumpkeinstein says:

    Pumkin, you are confusing economic systems with geo-politics.

    Present day Saudi Arabia, along with UAE, Kuwait, Qatar vs Iran. Are the equivalent of the Catholic Church and Protestanism in 1600 Europe. Both have an idea that their believes are the manifest destiny and god’s will to bring it to rule the planet.

    One level below, all are using friends and proxies. They are fighting it out over Syria/Yemen/ Lebanon / Iraq and who’s the the top dog in the ME.

    One level below that, is their economic impact to their own country and enemies, as well as oil as fuel alternatives. They are trying to hurt those alternatives and they have to some degree, but the alternatives will remain as options, because how serious the ME instability and oil are interrelated. So no sane national security policy of any country will consider oil as the only fuel.

    Both are having a pissing contest, enjoy the ride. The ride is a push to even more deflation worldwide.

  43. Libturd in the City says:

    Favorite Yahoo Finance Headline today…

    “Bankers say end of loose monetary policy era has fuelled volatility” And yes, ‘fueled’ is spelled wrong.

  44. Ragnar says:

    Libturd,
    Maybe the headline writer was from NJ and so wasn’t familiar with fueling vehicles.

  45. Libturd in the City says:

    Oil 26.26.

    Saudi Prince just pooped his robes.

  46. Fast Eddie says:

    The decade long recession is now approaching a depression.

    Thanks Oblama.

  47. I think the PPT will jack the S&P close above 1875. That’s all that matters…for today.

  48. Ragnar says:

    Most senior financial analysts understand the concept of supply and demand curves.
    Learning economics by reading books rather than reading web comments of hack editorialists. But maybe some people cannot read. So here’s some Khan Academy videos about supply and demand curves, and how when people buy more or less of something or people make more or less of something, prices change.
    In the future world of Trump or Sanders, the government will just tell everyone the right price for everything, and that will work great, like in Venezuela, where prices are very stable and go just where the government says.
    https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium

  49. The Great Pumpkin says:

    Just think about that for a second, how can a decade long recession turn into a depression? It does not make any sense whatsoever based on a capitalist economy. I have never seen a capitalist based economy have a down period for ten years and then turn into a crash. It defies logic. A crash comes on the heels of a boom in a capitalist system.

    People are creating a lot more fear than need be. They are drawing on fear because they want to make money. You see, there is no reason the stock market should accelerate upwards this year, meaning no money to be made. So what do they do, start talking doom and gloom, and start a major correction. This correction will allow these scumbags to make money this year. They will make money shorting it down, and then buy up the discounted shares. Unfortunately, this is how the game works. It’s based more on psychology and greed, than actual fundamentals.

    Fast Eddie says:
    January 20, 2016 at 2:22 pm
    The decade long recession is now approaching a depression.

    Thanks Oblama.

  50. I think it’s being caused by sudden wage inflation.

    Thanks Pumps;-)

    The decade long recession is now approaching a depression.

    Thanks Oblama.

  51. Fast Eddie says:

    I have never seen a capitalist based economy have a down period for ten years and then turn into a crash. It defies logic.

    Eureka! Your president has transformed a nation!

  52. walking bye says:

    Libturd what’s your pick if its a trump/palin ticket? That might actually throw the independents over to Hillary.

  53. Raymond Reddington formerly Phoenix says: says:

    48

    “Most senior financial analysts understand the concept of supply and demand curves.”

    Most senior financial analysts understand that by greasing the right palms you can control supply and demand just enough to profit….

  54. Statler Waldorf says:

    The party is over: Wall Street bonuses are down

    http://money.cnn.com/2016/01/20/investing/goldman-sachs-bonuses/

  55. NJT says:

    Question for the board: A good friend (unemployed for a few months) accepted a job offer (all documents signed and background check complete – drug test was not but this guy is a clean as…use your imagination). Then, a week later, they rescinded it.

    Here’s where it’s ‘sticky’: The job was a contract position through a consulting firm in NY (he’s in NJ) for national company that contracts to maintain something in NJ for another entity.

    I would assume the first party (that offered the job) is the one that is under question?

    I’m no attorney and never even worked for one but…can’t he do something about this?

    *BTW he had to go through HELL (think microscope between the buttocks) and provide references that I would have been hard pressed or unable to give.

    Could he get NJ Unemployment again or possibly sue for…something. The dude has four kids and is behind on his mortgage.

    *NO record of ANY type of offense for anything (not even a parking ticket) nor any type of physical or mental impairment but he is 50 years old.

  56. [55] I would think no for UE if it is a true contracting position (1099?). OTOH, as I stated a couple days ago. I was hired on salary to to be a consultant for JM Morgan (there’s a slight chance it was Morgan-Stanley, I don’t recall), but I was to be the W-2 employee of the consulting firm (This space is/was divided into “body shops” (1099) and “body snatchers” (W2) back then). I was a full-on employee in this situation but I never reported anywhere a single day. “My” company was ostensibly paying me for the first week or two (so they wouldn’t lose me) while I reviewed training materials from the Big Bank while they vetted my criminal and financial history. No prob on the criminal, but they Big Bank decided they didn’t want me working at their place of business because I had defaulted to another big bank not too many years previous. They nixed the contract and the company that was to pay me nixed my job, but… I got paid a few thousand bucks in salary, I was eligible for COBRA, etc. and I was eligible for unemployment.

  57. The Great Pumpkin says:

    Yes, and in the short run pricing, the khan video states what I have pointed out today. In the short term (6 months to a year), prices are not driven by supply and demand, but market psychology. Is that not exactly what I stated?

    As for the issue of gas prices not going down as fast as they go up. You are a man of logic, why is that? It’s obvious human nature comes into play in the form of greed. On the way up, they raise the prices on the consumer before the increase in prices on the supply side are even paid for. They are banking easy money. On the way down, they lower the prices on the consumer well after the lower costs have been paid for. Once again, banking easy money. Ironic, on the way up, consumer pays anticipated prices, but on the way down, consumer doesn’t pay anticipated prices.

    Ragnar says:
    January 20, 2016 at 2:34 pm
    Most senior financial analysts understand the concept of supply and demand curves.
    Learning economics by reading books rather than reading web comments of hack editorialists. But maybe some people cannot read. So here’s some Khan Academy videos about supply and demand curves, and how when people buy more or less of something or people make more or less of something, prices change.
    In the future world of Trump or Sanders, the government will just tell everyone the right price for everything, and that will work great, like in Venezuela, where prices are very stable and go just where the government says.
    https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium

  58. I made the mistake of typing JM Morgan instead of JP Morgan a couple days and then repeated the same mistake above. My mind is declining with my body, though I spend my days denying both.

  59. The Great Pumpkin says:

    Yup

    Raymond Reddington formerly Phoenix says: says:
    January 20, 2016 at 3:43 pm
    48

    “Most senior financial analysts understand the concept of supply and demand curves.”

    Most senior financial analysts understand that by greasing the right palms you can control supply and demand just enough to profit….

  60. The Great Pumpkin says:

    Lol…nice one

    The Original NJ ExPat says:
    January 20, 2016 at 2:43 pm
    I think it’s being caused by sudden wage inflation.

    Thanks Pumps;-)

    The decade long recession is now approaching a depression.

    Thanks Oblama.

  61. 30 year realtor says:

    #8 Comrade – I will not speculate on why you especially liked the term “environmental racism”. Did the article make an impression on you?

  62. [47] Close, but now cigar. If you look at a chart the S&P 500 came up to *exactly* 1875 at 3:30PM, but then pulled back. Bad. 1875 is now resistance, not support.

    I think the PPT will jack the S&P close above 1875. That’s all that matters…for today.

  63. There is no resistance line anymore. It’s cratering toward middle earth.

    Smoke ’em if you got ’em.

    Gold bitchez!!!

  64. leftwing says:

    “Maybe the headline writer was from NJ and so wasn’t familiar with fueling vehicles”

    Rags, second time this week the gas attendant tried to top off my tank and spilled fuel down the side of my car.. Happened at $xx.55 today. Gas is so cheap they can no longer top you to the nearest buck. They’ll have to start carrying quarters again lol.

    “Oil 26.26. Saudi Prince just pooped his robes”

    Stu, Saudi’s marginal cost per barrel is on the order of a buck fifty. There may be skid marks at WTI/Brent in the mid-20s, not coming from the desert though. Sovereign investments, different story maybe…..

    “The Great Pumpkin says: Yes, and in the short run pricing, the khan video states…”

    OMG, he actually watched the video, lololol. Pumps, you have the IQ of a box of rocks and the foresight of a housefly.

  65. joyce says:

    Libtard,

    Looking for a storm update?

  66. Libturd at home says:

    8 to 12 inches for most here. More to the south at this point. Snow starts in earnest early Saturday morning and finishes early Sunday morning. All of this could change. We are still 72 hours out. Within 48, things get much more accurate.

    Storm surge should still concern those at the shore. Shore homeowners may owe a thank you to the feds for forcing them to buy flood insurance.

  67. C’mon, punkin. Just tout some penny stocks and get your sorry ass banned.

  68. Comrade Nom Deplume, back at sea level says:

    [61] 30

    Yes, it made an impression on me.

    Of course, so does food poisoning.

  69. Libturd at home says:

    Seeing some calls for 8-15. We’ll see.

    As for the Palin/Trump ticket…I have faith that few will actually pull the lever for Trump, regardless of who he is up against or running with. I though Palin was wholly irrelevant at this point?

  70. Essex says:

    Palin pretty much sold me on Sanders.

  71. Libturd at home says:

    Last couple of models are even more inland and further North. The 3am Euro will be very telling. I’ll take a look when I get to work tomorrow morning.

  72. joyce says:

    Thanks

  73. I just wanna say thanks for making this blog and keep going the fabulous work!

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