Exodus

From MyCentralJersey:

Outta here! Garden State residents look to retire in greener pastures

Have you noticed more moving trucks on your block recently?

Well, here’s why.

The recent National Movers Study released by United Van Lines pointed to New Jersey leading the way among all states and the District of Columbia for outmigration, with 67 percent outbound.

And according to several different studies and organizations, a major reason for this significant exodus is that many retirees cannot afford to live in New Jersey. The state also ranks among the worst states for retirees when it comes to tax policies.

For more than a decade, New Jersey has had the highest death taxes in the nation. The Garden State is one of only two states (along with Maryland) that has both an estate tax and an inheritance tax and, unlike most states, New Jersey never hiked its $675,000 exclusion to match the federal exclusion of $5.1 million, according to the New Jersey Society of Certified Public Accountants (NJCPA). A recent survey by the NJCPA found that 74 percent of NJCPA respondents actually have advised clients to relocate to another state because of New Jersey’s estate and inheritance taxes. A strong majority (85 percent) think these taxes impact the state’s middle class just as much as the affluent.

The relatively low retirement-income tax exemptions is another key factor in New Jersey’s poor ranking.

New Jersey currently allows residents age 62 older who make under $100,000 annually to exempt up to $15,000 of their retirement income from state income taxes. The exemption is capped at $20,000 for couples in New Jersey. The cap is $40,000 in New York, while Pennsylvania does not tax retirement income at all.

“The tax policies in our neighboring states offer a real temptation for seniors to leave New Jersey,” said NJCPA CEO Ralph Albert Thomas. “Keeping New Jersey retirees in New Jersey by providing tax-fairness measures is critical to helping improve the state’s economy and business climate.”

This entry was posted in Demographics, Economics, Politics, Property Taxes. Bookmark the permalink.

89 Responses to Exodus

  1. The Great Pumpkin says:

    I think the complete opposite of some other people. Some don’t give a damn about income inequality, or giving people decent wages, but when it comes to their selfish needs, they are all for lower taxes.

    You can think taxes are a waste of money, but they are for the good of society. Yes, some is wasted to corruption, but like I always point out, what institution does not become corrupted by human nature? Anything they touch, they corrupt. So take away all the govt services, lower your taxes to support a min govt, and then get raped by the private sector when it comes to paying for these services that were once payed for collectively as a society.

    Garbage, you will get raped. Roads, you will get raped. Parks, you will get raped for access (you know how much the private sector charges for a soccer game in a bubble? God knows what they would charge to rent a whole outdoor field). Emergency services, you will get raped. Do you see how much a plumber charges for an emergency, now imagine for a health emergency or a security emergency. Man, if your son or daughter get kidnapped, good luck paying the costs for that in a private setting. Schools, you will get raped. The cost of education will sky rocket. Why? If it goes private, most poor will not go to school. The industry will be left to survive on a limited pool of customers. They will charge an arm and a leg for the best schools (easily close to 6 figures a year…think harvard costs at the high school level). The people not getting an education will slowly, but surely, destroy society over time with their lack of education and money.

    All I’m saying, people better be careful what they ask for.

    3b says:
    February 7, 2016 at 5:40 pm
    #9 pumpkin: still amazed that you have all this concern for the everyday man and woman. Income inequality no to low raises a d yet you are still perfectly fine with high taxes. Amazing!!

  2. The Great Pumpkin says:

    Remember, you have delbarton charging 35,000 while competing with a free alternative. Imagine if you take away the free alternative, what will happen with the competition at the top….easily 6 figures a year. If you want your kid to get a good education, you will wish you could have payed collectively for 20,000 per student per year through your taxes. Now the cost of education will be put solely on the backs of parents.

    Is this the world of limited govt everyone wants? Yes, you pay almost no taxes, but you get raped at every turn by the private sector raptors on their relentless hunt for profit. The avg person will have less and the people at the top will have almost all if we turn to this type of govt/society of limited govt.

  3. D-FENS says:

    D-FENS says:
    February 8, 2016 at 8:59 am
    Michael, it’s not a private sector vs public sector argument for most people. Over the course of decades we were promised that if we just pay sales taxes, the money would go to school and we’d have lower property taxes. Then we were promised the lottery would fund schools…etc and so forth.

    They are lying sacks of sh1t, and the money evaporates. The people responsible….(government officials) should be held responsible.

    In that climate…why on earth would anyone…like yourself…ask for more of this?

    In most states, the cities are teeming with businesses, generating growth and tax revenue….in NJ, this is completely the opposite and our urban centers are subsidized by state funds…many on the verge of bankruptcy (see Atlantic City or Camden’s failed police force…etc).

    The cities are black holes where all of our tax dollars go to die in NJ. It should be the complete opposite…

  4. The Great Pumpkin says:

    I def understand what you are saying. I’m just pointing out that the same exact thing will happen if we privatize everything and have a govt that exists for the sole reason of laws and military. I acknowledge that human nature is destructive to whatever it touches.

    I just think some basic needs of society are best done as a collective as opposed on an individual basis. Things like roads, schools, and emergency services should be payed as a collective. You point out that the cities in nj are black holes. Why do you think it is like this? Look at who lives there. A ton of poor minorities. That’s why they are black holes, you have to pay for the bottom of society. Take away the welfare from the state and these people will die or get desperate enough to just start doing whatever they have to do to survive. There aren’t enough jobs (that’s a fact), so what will these people resort to if they are to survive? You know the answer, and it’s a lot worse than dumping tax money in these locations. At least under the current system, they stay in certain city locations.

    It’s like the issue of too many kingdoms in nj, which raises the price of govt. Why is this in place? Easy, to maintain the good towns, so they only have to associate with their own. Turn it all into regional based services and you are telling me that glen ridge will want to share services with bloomfield or newark? Their schools will go to hell. There is a reason we have the abbot system in place, and it’s for this very reason.

    D-FENS says:
    February 8, 2016 at 8:59 am
    Michael, it’s not a private sector vs public sector argument for most people. Over the course of decades we were promised that if we just pay sales taxes, the money would go to school and we’d have lower property taxes. Then we were promised the lottery would fund schools…etc and so forth.

    They are lying sacks of sh1t, and the money evaporates. The people responsible….(government officials) should be held responsible.

    In that climate…why on earth would anyone…like yourself…ask for more of this?

    In most states, the cities are teeming with businesses, generating growth and tax revenue….in NJ, this is completely the opposite and our urban centers are subsidized by state funds…many on the verge of bankruptcy (see Atlantic City or Camden’s failed police force…etc).

    The cities are black holes where all of our tax dollars go to die in NJ. It should be the complete opposite…

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

    Dow 15000 hats still on the shelf? Might be getting them out before long.

    I was looking at AMZN at 450 and DIS at 90. I figured there’d have to be blood in the streets to get to that level but both are getting close.

    Wanted to pick up more VZ but it is holding near 52 wk high. Wasn’t expecting that. So I guess I am still priced out.

  6. FKA 2010 Buyer says:

    Move along, nothing to see here. Everyone deserves a 2nd chance in life….

    New mortgage companies have ties with subprime lenders

    LOS ANGELES — PennyMac, AmeriHome Mortgage and Stearns Lending have several things in common.

    All are among the nation’s largest mortgage lenders — and none are banks. They’re part of a growing class of alternative lenders that now extend more than 4 in 10 home loans.

    All are headquartered in Southern California, the epicenter of the last decade’s subprime-lending industry. And all are run by former executives of Countrywide Financial, the once-giant mortgage lender that made tens of billions of dollars in risky loans that contributed to the 2008 financial crisis.

    This time, the executives say, will be different.

    http://www.seattletimes.com/business/real-estate/new-mortgage-companies-have-ties-with-subprime-lenders/

  7. FKA 2010 Buyer says:

    Wonder how many people are going to fly back instead…

    Cruise Ship That Left New Jersey Rocked by Stormy Seas>/b>

    A cruise ship that left Bayonne, New Jersey, hit rough waters in the Atlantic Ocean on Sunday, tossing around the vessel and its passengers, according to the U.S. Coast Guard and Royal Caribbean.

    Passengers aboard the Royal Caribbean’s Anthem of the Seas were warned to take cover around 3 p.m. as the ship pushed through massive waves and strong winds off the coast of the Carolinas.

    http://www.nbcnewyork.com/news/local/NJ-Cruise-Ship-That-Left-Rocked-by-Stormy-Seas-Coast-Guard-Florida-368008441.html

  8. Libturd supporting the Canklephate says:

    D-Fens nails it. We all would be social1sts (well maybe not Rags) if the government was accountable. In most cases, the lack of accountability and oversight in the government is actually more wasteful than the profit motive in the private sector. And that is truly sad!

    Joey D runs Essex County. He is a self-aware double dipper and chronic spender. He used our Essex County tax dollars (about 20% of your property tax bill) to build a fancy restaurant. His brother setup a health insurance pool to compete with the state’s health insurance pool. No conflicts of interest there. Hey Montclair, want us to put in a new playground in our park in your town? Drop the state plan and join my brothers. That’s what Montclair did.

    Plump’s. Many of your theories are practical and make sense. But in real life, the government behaves in a more deplorable manner than the private sector.

    Had my younger kids birthday at a local firehouse (non-volunteer). Guess what their work schedule is? One 24 hour shift then 3 days off. I bet those firemen are really responsive when the bell rings within the last couple of hours of their shift ending. It’s good to be in government.

  9. Libturd supporting the Canklephate says:

    http://i.imgur.com/APBpogI.gif

    This is the storm that ship got caught in. Once I was on a cruise with Gator up in Alaska. 20 to 40 foot swells, but not quite as strong winds. Everyone on the ship was seasick accept the bridge and me. One had to hold onto the bed to keep from rolling off of it. They actually had to pull back in the stabilizers as they feared they would snap. Would have been useless anyway. It was cool seeing the hull and the rotors completely out of the water at times.

  10. Alex says:

    To those responsible for ruining the once great state of NJ:

    Please remain in the state, don’t do to other states what you did to NJ.

    Thank you.

  11. Ragnar says:

    The foundation of Pumkin’s hatred of liberty is his belief that people are both helpless and vicious. Especially the colored ones.

  12. FKA 2010 Buyer says:

    [12] Rags

    “colored” ones….where have you been Grand Pa? I don’t think anyone goes by that anymore.

  13. FKA 2010 Buyer says:

    That escalated quickly…

    Jury awards $5.7 million to Irvine PTA mom in drug-planting case

    The conflict began over a school dispute over the Easters then-7-year-old son.

    Peters, a former PTA president and volunteer at Plaza Vista School in Irvine, had her first run-in with Jill Easter on Feb. 16, 2010. Easter was upset that her son wasn’t in front of the school when she came to pick him up.

    Peters testified that she told Jill Easter that her son may have been “slow to line up,” a comment Easter apparently mistook as an insult against her son’s intelligence.

    The conflict escalated as Jill Easter tried to have Peters dismissed from her school volunteer job and claimed that Peters was stalking her and her son.

    A year after the initial confrontation, Kent Easter called police, using a false name and speaking in an Indian accent, saying Peters had been driving erratically in the school parking lot, authorities said.

    http://www.ocregister.com/articles/easter-703066-peters-jill.html

  14. D-FENS says:

    Fuk that. This is my state. Make them leave.

    Alex says:
    February 8, 2016 at 10:31 am
    To those responsible for ruining the once great state of NJ:

    Please remain in the state, don’t do to other states what you did to NJ.

    Thank you.

  15. D-FENS says:

    The Abbott Decisions were the beginning of the end for NJ.

    Policies regarding cities should be to attract tax and job generating businesses. This is almost impossible to do in the current political climate in NJ, so I think it’s entirely possible they should declare bankruptcy and start bulldozing.

    Really neither is politically possible so, the beat goes on…

    Doesn’t someone here always say something about gnashing teeth? I might need a mouth guard.

  16. Libturd supporting the Canklephate says:

    We are all “colored.” Some are just lighter than others.

    “Hus du gezen in deine leiben, they darker than us.”

    https://www.youtube.com/watch?v=MAYt6dpCgOI

  17. D-FENS says:

    We know where we’re going…we know where we’re from…

    https://www.youtube.com/watch?v=_pk0vE-MM_g

  18. D-FENS says:

    pass the joint.

  19. Libturd supporting the Canklephate says:

    Hey Plumpy? You still own Nate’s? Down to a qaurter.

  20. homeboken says:

    20 – quarter of a penny that is.

  21. chicagofinance says:

    RALEIGH, N.C. — A man has died after starting a Raleigh race in which contestants are supposed to also eat a dozen Krispy Kreme doughnuts midway through the competition.

    Organizers of the annual Krispy Kreme Challenge said in a news release that a 58-year-old man dropped out of the race during the first mile Saturday morning because of chest pains. He was pronounced dead at a nearby hospital.

    The unidentified runner left the race before reaching the Krispy Kreme location at which some competitors eat a dozen doughnuts before completing the final 2½ miles of the 5-mile course.

    The race is organized by students at North Carolina State University and benefits the North Carolina Children’s Hospital. It’s in its 12th year.

  22. Ragnar says:

    Plug was over 5 when Michael was singing its praises in 2014. $1.62 today.

  23. VZ and T are overbought, because that’s what’s being bought with everything that has been getting dumped (I bought CTL instead, a telecom now well above it’s 52 week lows). DIS I wouldn’t touch right now. Utilities and Consumer Staples for now and Telecoms when they eventually fall. Recent purchases that are doing well for me XEL, SJM, CPB, ACG. Safety with Electricity, PB&J, Soup, and government bonds right now.

    Wanted to pick up more VZ but it is holding near 52 wk high. Wasn’t expecting that. So I guess I am still priced out.

  24. Ragnar says:

    chifi,
    The guy didn’t make it to the donuts, for which Krispy Kreme must be very thankful.
    Chris Krispy is doing his own challenge – run for president for 7 years while holding down a no-show job in NJ, while eating a dozen doughnuts per day.

  25. The Great Pumpkin says:

    I honestly agree with what you say here. Like you state, it truly is sad.

    I wish human nature didn’t ruin everything. Why do people always have to cut corners and look for the easy way out? Why can’t they do the right thing? Some people think it’s okay to steal (they really tell themselves that it is okay to steal, they are sick in the head….they think they are smarter than everyone else…only suckers follow rules, right?). They can’t comprehend that if everyone had this mindset, society would fall apart in seconds. I mean who would work if you could just steal everything? Since they are unable to think on this level, they have no idea how much harm their actions bring to the system. So apply this to the politicians. We need to eliminate people in positions of power that exhibit these bad qualities, esp the lack of empathy. Without empathy, it’s easy to fuc! over the population you have been given power to rule over and help.

    Libturd supporting the Canklephate says:
    February 8, 2016 at 9:41 am
    D-Fens nails it. We all would be social1sts (well maybe not Rags) if the government was accountable. In most cases, the lack of accountability and oversight in the government is actually more wasteful than the profit motive in the private sector. And that is truly sad!

    Joey D runs Essex County. He is a self-aware double dipper and chronic spender. He used our Essex County tax dollars (about 20% of your property tax bill) to build a fancy restaurant. His brother setup a health insurance pool to compete with the state’s health insurance pool. No conflicts of interest there. Hey Montclair, want us to put in a new playground in our park in your town? Drop the state plan and join my brothers. That’s what Montclair did.

    Plump’s. Many of your theories are practical and make sense. But in real life, the government behaves in a more deplorable manner than the private sector.

    Had my younger kids birthday at a local firehouse (non-volunteer). Guess what their work schedule is? One 24 hour shift then 3 days off. I bet those firemen are really responsive when the bell rings within the last couple of hours of their shift ending. It’s good to be in government.

  26. BTW, 45% of all Utilities and 34% of all Consumer Staples companies in the S&P 500 have hit 52 week highs in the last week or so.

  27. The Great Pumpkin says:

    It’s a sad situation. The abbott funding is terrible, but I understand. It’s literally used to justify the current good school/bad school situation. The law justifies that these inner city kids are getting their shot at a good education, the per pupil cost is on the same level or more than their suburban counterparts. Since the educational cost is the same or more, those kids don’t get to mix and ruin the education of the wealthy kids who aspire to go to top colleges. You don’t want the teacher spending all their time and resources trying to get certain students on par with the rest. It destroys the educational environment of the school when you import a bunch of kids that are at a much lower level (for obvious reasons). So that voucher system is a joke. It will destroy the educational system of the entire state if we just mixed all the students together. Some people are going to claim I’m racist(like they usually do), but I’m just being realistic. The inner city kids are not ready to learn in the same classrooms as the other kids. Putting them together will lead to the teacher focusing on low level students instead of challenging the students at a higher level. Nothing racist about that, just trying to what’s best for every student, not just the lower level students.

    I don’t know what the answer to Abbott funding. It’s a really complicated answer that I don’t have yet.

    D-FENS says:
    February 8, 2016 at 11:17 am
    The Abbott Decisions were the beginning of the end for NJ.

    Policies regarding cities should be to attract tax and job generating businesses. This is almost impossible to do in the current political climate in NJ, so I think it’s entirely possible they should declare bankruptcy and start bulldozing.

    Really neither is politically possible so, the beat goes on…

    Doesn’t someone here always say something about gnashing teeth? I might need a mouth guard.

  28. D-FENS says:

    Huh, didn’t know Bob just had a birthday.

    Happy birthday bruh…

    Bob Marley/Date of birth
    February 6, 1945

  29. anon (the good one) says:

    test

  30. anon (the good one) says:

    unmod

    these savages need some education

  31. chicagofinance says:

    Ex-pat….you are buying staples stocks? I see a flat to 1% revenue grower paying out a 3% dividend and trading at a P/E of 27…….. WTF is that?

  32. Libturd supporting the Canklephate says:

    When oil bounces back, the market is going to bounce back with it. Don’t miss the boat.

  33. Libturd supporting the Canklephate says:

    Until then…lots of road trips.

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

    [24] expat

    I did buy the VZ and DIS on the last big dip. DIS hasn’t done much and the VZ is up nicely. I had lower buys but they never hit. So I’m priced out.

    I get the lack of love for DIS but I am looking long term here and I think most trends are positive except for a stronger dollar.

  35. D-FENS says:

    I think your post was sent to one of our fine NJ cities in Camden county.

    Never to be seen again.

    anon (the good one) says:
    February 8, 2016 at 1:14 pm
    unmod

    these savages need some education

  36. The Great Pumpkin says:

    Yes, and still believe in it. Taking a hit right now, with these notes converting the past month. Price might even go a little lower into the trips if they don’t get news before more notes convert. The bet is that they will get a purchase order in the first qt. If they receive this, the debt will be taken care of and the stock price will rise dramatically. If they don’t get sales to take care of the startup debt, I can say goodbye to my money. Bet lost. Tasted the product and definitely believe in it. Penny land is not for the faint of heart, startups will have volatile stock pricing, but if you believe in the management and the product, then you place your bet. I have.

    Give it some time before you write it off as a loss, penny plays make most of their money on one or two day runs. Key is to buy and build a position before the run, and then sell into the volume that the run produces. Just know that when it does run, even if you are holding long term, you better sell and take your profits. If you still like the company after the run, you can buy back at a dip and establish a new position, but you always take your profit while you can.

    Libturd supporting the Canklephate says:
    February 8, 2016 at 12:01 pm
    Hey Plumpy? You still own Nate’s? Down to a qaurter.

  37. Libturd supporting the Canklephate says:

    I’ve invested in 3 penny stocks in my life. Lost on two gained on one. Two of the CEO’s are now in prison. The third one is close. ABHD.

  38. chifi – I’m trading the technical trend (on a 3 year weekly chart), not the fundamentals(though I look at both). The great thing about staples and utilities is they (generally) have much lower volatility so my stops work a lot more reliably (I have each position managed at 0.25% total portfolio risk). So unlike most utilities and staples investors, I am not buying for income or stability, rather, I’m only interested in intermediate term growth on the strength of the trend. OTOH, given the low volatility I wouldn’t be surprised to never hit my stops and still own these all year.

    Since mid-September I’ve been trading this way and tracking each sector. I have Utilities up 11.24% since then and Staples up 4.33% (using XLU and XLP for tracking purposes). RE, Industrials, Technology, Materials, Discretionary, HC, Financials, and Energy – all down since then, listed from best of losers to worst.

    Ex-pat….you are buying staples stocks? I see a flat to 1% revenue grower paying out a 3% dividend and trading at a P/E of 27…….. WTF is that?

  39. Ben says:

    If I get time, I’m going to go through a bunch of coal stocks. That industry is so beaten down there have to be a few good buys there, unless of course, we believe we’ll never burn coal again.

  40. [39] In short, when sector rotation occurs, I’ll just let my stops take me out.

  41. Be careful there, Ben. Not that we’re done burning coal, but there are lots of coal alternatives. Oil, OTOH, not so much. I bet most people don’t know what fuel is used to increase the electrical grid capacity the most each year in the US. The answer is nuclear. NIMBY folks won’t allow any new nuke plants to be built, but the industry has quietly multiplied the nuclear capacity of existing plants over the last several years, I believe about 4 fold.

    If I get time, I’m going to go through a bunch of coal stocks. That industry is so beaten down there have to be a few good buys there, unless of course, we believe we’ll never burn coal again.

  42. Libturd supporting the Canklephate says:

    Coal just might be done.

  43. Sysco blew out earnings last Monday and hit a 3-year high on Friday. I bought it today. Buy high, sell higher. SYY

  44. The Great Pumpkin says:

    lol…it’s a dirty dirty game down there. Very hard to make money, need to lose to gain experience. Lost on my first penny play at the young age of 20. Gained a lot of experience over the years. 9 out of 10 penny plays will fail or are straight up scams. If you do hit on a penny play, you will make serious money(the only reason that keeps the otc alive). I hope this one hits. When playing in the dirty otc, you must know that you can lose every single penny. If you can’t live with losing it all, do not go near the otc. If you can’t handle looking at huge losses without selling, do not go near penny land. You can be down 70% one week, and up 300% the next. You really have to know how the game is played, have tremendous patience, balls of steel, understand bs from reality, be really good at reading the L2 (and know the toxic market makers), and get a little lucky.

    Would not recommend anyone to play in the otc.

    Libturd supporting the Canklephate says:
    February 8, 2016 at 1:47 pm
    I’ve invested in 3 penny stocks in my life. Lost on two gained on one. Two of the CEO’s are now in prison. The third one is close. ABHD.

  45. chicagofinance says:

    Nom: Star Wars underperformed in quality and results……the quality issue hurts the potential of the future movies…….the cord cutting hitting ESPN is the well known issue……

    Comrade Nom Deplume, screwing around at work says:
    February 8, 2016 at 1:34 pm
    [24] expat

    I did buy the VZ and DIS on the last big dip. DIS hasn’t done much and the VZ is up nicely. I had lower buys but they never hit. So I’m priced out.

    I get the lack of love for DIS but I am looking long term here and I think most trends are positive except for a stronger dollar.

  46. chicagofinance says:

    The End Is Nigh (plumpy Edition):

    A 44-year-old white straphanger was beaten in a Brooklyn subway station by a black man who told him, “Cracka, you don’t belong here,” police sources told the Daily News.

    The suspect also allegedly elbowed the victim’s fiancé in the head, then spit in another straphangers’ face.

    “Someone get his white cracka as$ off the floor,’’ the suspect said, according to police sources. “It’s a black neighborhood … You don’t belong here.”

    The incident, which happened about 9:45 p.m. Saturday at the Church Ave. Q stop, is being investigated by the NYPD’s Hate Crimes Task Force. No arrest has been made.

    The victim was getting off the train when the suspect, believed to be about 40 years old, approached from behind and allegedly punched him in the face. He knocked him to the ground and called him a “cracka,” a derogatory term for white people, police sources said.

    When the victim’s fiancé tried to intervene the suspect allegedly elbowed her, walked away and confronted another subway rider, who told cops about the incident.

    The victim’s nose was bloodied and his right eye was bruised but he did not require medical treatment, police sources said.

    The NYPD has classified the attack as a bias incident.

  47. Juice Box says:

    re# 47 -err predictions from MS was only 650 -750 million domestic, Star Wars did $905 million so far in 7 weeks and is the domestic box office champ, it is lagging internationally however.

  48. Libturd supporting the Canklephate says:

    Black privilege.

  49. chicagofinance says:

    Published crap from sell side equity analysts money bets

    Juice Box says:
    February 8, 2016 at 3:21 pm
    re# 47 -err predictions from MS was only 650 -750 million domestic, Star Wars did $905 million so far in 7 weeks and is the domestic box office champ, it is lagging internationally however.

  50. chicagofinance says:

    Published crap from sell side equity analysts “”money bets

  51. chicagofinance says:

    Published crap from sell side equity analysts money bets

  52. D-FENS says:

    Star wars under performed? I couldn’t tell. Everyone I know thought the movie was great…and I keep reading that the movie broke box office records.

    Sheesh.

  53. chicagofinance says:

    chicagofinance says:
    February 8, 2016 at 3:26 pm
    Published crap from sell side equity analysts DOES NOT EQUAL money bets

  54. D-FENS says:

    This is under performing?

    http://www.nydailynews.com/entertainment/movies/star-wars-force-awakens-passes-avatar-record-article-1.2487724

    “Star Wars: The Force Awakens” completed the Kessel Run to become the No. 1 box office hit of all time in North America on Wednesday — taking just 20 days to pass the previous record of $760.5 million set by “Avatar.”

    “Star Wars: The Force Awakens” has entered a galaxy occupied by few others.

    The ultra-popular space epic has now grossed more than $2 billion worldwide, according to Entertainment Weekly, making it only the third movie in box office history to reach that astronomical plateau.

  55. chicagofinance says:

    You can be assured that “pipe dreams” was the standard investment thesis given stock’s return since the opening……the movie was really quite average…..maybe tactfully described as “good-ish”.

    So when I spend the rest of this post discussing the “good but not great” box office performance in what is the second-biggest movie going market, that doesn’t mean that The Force Awakens is magically a failure or a flop. It just means that pipe dreams of the seventh Star Wars film utterly dominating Chinese cinemas may have been just that.

    http://www.forbes.com/sites/scottmendelson/2016/01/12/box-office-star-wars-the-force-awakens-not-catching-fire-in-china/#46647a9c4b11

  56. chicagofinance says:

    sorry the second paragraph above should have been in quotes (from the article)

    “Again, for pretty much any other franchise, this would be a fine performance. But there was a perhaps naive presumption that Star Wars: The Force Awakens would be as big of a hit (relatively speaking) in China as it has been in America through sheer force of marketing will. “

  57. walking bye says:

    Question for stock pickers out there. Is the broad market sell off part of oil rich nation sovereign funds needing to come up with cash to cover month to month bills now that oil is below $30?

  58. Juice Box says:

    re# 57 – Chi – In China as of 1/31/16 they did $122,115,511 in 4 weeks.

    I don’t think anyone thought they would beat Avatar, it had a different appeal.

  59. Juice Box says:

    re # 60 – Not the only reason. My bigger concern is buybacks.

    http://www.cnbc.com/2016/02/08/buybacks-could-be-the-stock-market-savior-this-year.html

  60. Ragnar says:

    Chinese missed the first Star Wars movies. Mao had just died the year before and they were in the midst of political struggles and were in really bad shape when the first movie came out.

  61. Juice Box says:

    Interesting stuff movies. Furious 7 did 390 million in China and only 353 million in the USA.

    http://www.boxofficemojo.com/alltime/

  62. Ragnar says:

    Walking bye,
    That could be part of the issue, particularly in the timing. But there are plenty of excuses for stocks to fall besides that.

  63. walking bye says:

    62- Juice box, is your concern that should buybacks not materialize we could see further declines? As for the sovereign funds I don’t remember where I read but it stated many are heavily invested in financials and hence the pain banks stocks are seeing (on top of energy loan losses)

  64. The Great Pumpkin says:

    One of the strangest things about the anti-Shkreli argument is that it asks us to be shocked that a medical executive is motivated by profit. And one of the strangest things about Shkreli himself is that he doesn’t seem to be motivated by profit—at least, not entirely. Last fall, Derek Lowe, a chemist and blogger affiliated with Science, criticized Shkreli’s plan to raise prices as a “terrible idea,” not least because such an ostentatious plan posed “a serious risk of bringing the entire pricing structure of the industry under much heavier scrutiny and regulation.” He called on the pharmaceutical industry to denounce Shkreli as a means of protecting its own business model; from an economic point of view, Shkreli’s strategy seemed self-defeating. At least one person close to Shkreli seems to have agreed. One of the most revealing documents uncovered by the committee showed an unnamed executive imploring him not to raise the price of Daraprim again, saying that the risk of another media firestorm outweighed the benefit. “Investors just don’t like this stuff,” the e-mail said. Shkreli’s response was coolly noncommittal: “We can wait a few months for sure.”

    A truly greedy executive would keep a much lower profile than Shkreli: there would be no headline-grabbing exponential price hikes, just boring but reliable ticks upward; no interviews, no tweeting, and absolutely no hip-hop feuds. A truly greedy executive would stay more or less anonymous. (How many other pharmaceutical C.E.O.s can you name?) But Shkreli seems intent on proving a point about money and medicine, and you don’t have to agree with his assessment in order to appreciate the service he has done us all. By showing what is legal, he has helped us to think about what we might want to change, and what we might need to learn to live with.

    Most of our Presidential candidates claim to disdain Washington politicians, but, on Thursday, Shkreli put that disdain into practice—and helped illustrate, to anyone paying attention, why it is so richly deserved. He is candid even when candor doesn’t pay. (Can there be any doubt that Hillary Clinton, after her own recent appearance before Gowdy and some of his colleagues, would have loved to send a tweet like Shkreli’s?) Last fall, Trump said that Shkreli “looks like a spoiled brat”; in fact, he is the son of a doorman, born to parents who emigrated from Albania. Look at him now! True, he has those indictments to worry about. But he is also a self-made celebrity, thanks to a business plan that makes it harder for us to ignore the incoherence and inefficiency of our medical industry. He rolls his eyes at members of Congress, he carries on thoughtful conversations with random Internet commenters, and, unlike most of our public figures, he may never learn the arts of pandering and grovelling. He is the American Dream, a rude reminder of the spirit that makes this country great, or at any rate exceptional. Shkreli for President! If voters in New Hampshire are truly intent on sending a message to the Washington establishment they claim to hate, they could—and probably will—do a lot worse.

    http://www.newyorker.com/culture/cultural-comment/everyone-hates-martin-shkreli-everyone-is-missing-the-point

  65. The Great Pumpkin says:

    That’s all you need to know. What a joke.

    “Last fall, Derek Lowe, a chemist and blogger affiliated with Science, criticized Shkreli’s plan to raise prices as a “terrible idea,” not least because such an ostentatious plan posed “a serious risk of bringing the entire pricing structure of the industry under much heavier scrutiny and regulation.” “

  66. chicagofinance says:

    one of many…….IMHO the most recent issue is the idea that European banks are now in play for duress……it is also unclear how much paper is on banks/insurance companies books as assets…..toss in also the unknown direction of the debt capital markets in terms of high yield non-commodity spreads/access and the frightening thought if the situation bleeds into the investment grade sector….

    walking bye says:
    February 8, 2016 at 3:43 pm
    Question for stock pickers out there. Is the broad market sell off part of oil rich nation sovereign funds needing to come up with cash to cover month to month bills now that oil is below $30?

  67. In other words, bend over and kiss your ass goodbye.

  68. D-FENS says:

    Martin Shrekeli for president.

  69. chi says:

    Clot: I think the proper cliche is Captain Albana puts out his cigarette on your chest.

  70. Grim says:

    Shkreli is an operative tasked with acting as a charicature to create an enemy for the coming war on pharma.

    The powers that be needed to create a character so vile that the public came out demanding that congress act.

  71. The Great Pumpkin says:

    Under Sanders, income and jobs would soar, economist says

    http://money.cnn.com/2016/02/08/news/economy/sanders-income-jobs/index.html

  72. FAZ, and SKF bitchez!

    one of many…….IMHO the most recent issue is the idea that European banks are now in play for duress……

  73. [78] I wonder what happens when GLD becomes illiquid with more profit-takers than buyers after a big run-up? Does GLD crash while PHYS goes up, or does GLD pull PHYS down with it? My guess is that neither one will ever hand you a physical ounce, despite one being asset-backed.

  74. walking bye says:

    @79 the actual gold bars are on the 17th floor, but no one has access to that floor except bernie.

  75. D-FENS says:

    I think he’s just nuts and eccentric Grim. What exactly is the purpose of taunting Wu tang clan?

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

    [77] pumps

    The UMass Econ Dept is renowned for being essentially a Marxist cabal. And I see that nothing has changed in 30 years.

  77. Libturd says:

    I bet Kung Fu Panda did well in China!

  78. Ragnar says:

    Shkreli is the kind of “pharmaceutical executive” you get when central planners conspire to underprice the cost of debt for over a decade, and the financial engineers bred on zirp and fed puts take over what used to be real businesses to play short term asset stripping and milking games.

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