From the Star Ledger:
N.J. added 43K jobs in 2017. Here’s why that’s not such good news
New Jersey added about 43,000 jobs in the private sector in 2017, about 18,000 less than 2016, according to data released by the U.S. Bureau of Labor Statistics Monday.
But that’s not necessarily good news.
“From 2014 to 2016 we had an upward trend in the number of jobs added in the private sector each year,” said James Hughes, a faculty fellow at Rutgers University’s John H. Heldrich Center for Workforce Development.
“That trend stopped in 2017,” he said. “New Jersey is still lagging the nation.”
The U.S. added about 2.1 million private sector jobs in 2017. And New Jersey makes up about 3 percent of the nation’s job base, Hughes said.
So, in order to keep pace, New Jersey would have had to add close to 60,000 jobs in the same year, he said.
…
Other reasons why the state continues to lag the nation include the exodus of the millennial generation to cities like New York. Its difficult for companies to hire talent if they are based in New Jersey, Hughes said.“We are in the bottom fifth of states in terms of the number of jobs we’ve recovered. I guess its not much of a surprise that New Jersey is still playing catch up,” said Gordon MacInnes, director of New Jersey Policy Perspective (NJPP), a left-leaning think tank.
“Even if we have done well in the previous two years we haven’t done enough to be complacent,” he said.
Yep…
https://www.vox.com/2017/12/20/16772670/baby-boomers-millennials-congress-debt
A 36 year old writes an article that says, “It’s not us, it’s them.”
“But it’s really the white middle-class boomers who exemplify all the awful characteristics and behaviors that have defined this generation.” Of course. I wonder if it’s all white guys doing all the murders in Chicago too. Maybe that’s not considered bad behavior?
The baby boomers are conventionally defined as people born between 1946 and 1964. But I focus on the first two-thirds of boomers because their experiences are pretty homogeneous: They were raised after the war and so have no real experience of trauma or the Great Depression or even any deprivation at all.
Uhhh…Viet Nam?
Seems like a smart cat to me.
https://www.youtube.com/watch?v=YPxmvuUcUAE
and
Gibney started investing when his Stanford University roommate Ken Howery co-founded PayPal, the electronic payments company, and offered Gibney the chance to buy “friends and family” shares.[1] After investing in PayPal, Gibney worked as a litigator but was soon hired by Peter Thiel after Thiel sold PayPal to eBay in 2002. Gibney worked at Thiel’s hedge fund, Clarium, until 2008, making occasional private investments including in Palantir Technologies in 2005 and later in DeepMind, which was acquired by Google[2] for around $450 million in 2014. He then moved to Founders Fund, a venture capital fund started by Thiel. Thiel and Founders Fund were the earliest outside investors in Facebook, SpaceX, Palantir, and made other investments including in AirBnB, Lyft, Spotify, and Stemcentrx, which AbbVie acquired for $10 billion a few years after Founders Fund’s investment.[3]
Both of those guys in that Vox article are morons who obviously understand zero about the US economy of the 1960’s and 1970’s. The entire hippie movement was born out of absence of economic opportunity, not born out of “a rich, dynamic country.” It wasn’t the fricking hippies who bankrupted the country with Viet Nam and took us off the gold standard and ran up double digit inflation.
“absence of economic opportunity”…..I disagree. My father talks of countless manufacturing jobs across NJ. Growing up he had no problem working for one of countless jobs as he went to school. I actually had this discussion with him the other day….we were wondering where my kids would work growing up…I’d like them to learn the value of a dollar when they are teens.
The only trauma was the draft.
There were no shortages of goods/services…nationwide efforts to collect scrap for the war effort etc.
Really…the only ones traumatized were the soldiers coming back from viet nam who were tormented by these psychopaths.
The Original NJ ExPat says:
March 15, 2018 at 7:54 am
The baby boomers are conventionally defined as people born between 1946 and 1964. But I focus on the first two-thirds of boomers because their experiences are pretty homogeneous: They were raised after the war and so have no real experience of trauma or the Great Depression or even any deprivation at all.
Uhhh…Viet Nam?
Chi…If you’ve never been up to Lake Placid, I could give you a few tips if you want them.
There was still plenty of manufacturing in NJ when I was a kid in the 70s. Heck, we used to ride our BMX bikes on the grounds of DuPont, Hercules, Grief, National Lead, Anheiser Busch and Hydrox. And these were all less than a mile from my home in East Brunswick.
The only difference between the photo of Golden Gate Park in that article and today is that the hippies were all high on pot, acid and ludes. Today, the scene looks exactly the same, but they are all hooked on H.
I would never walk through there anymore BTW.
That article is satire, right?
NJ Advance Media out with county population stats. Hudson population rocketing higher. Biggest loser is Monmouth, where self-styled smart people (losers) move. 2017 stats will be released soon. My forecast: Hudson dominance continues and Monmouth loserdom entrenches.
It is true that there were manufacturing jobs, but there was a dearth of white collar jobs in the mid and late 1960’s. It was the first time that the next generation didn’t get to step up to a higher rung on the economic ladder than the one their parents were on. It pretty much stayed crap until 1984. Also no abortion and a Catholic Church that forbade birth control, so the population was surging while the dollar was rapidly losing value. People who retired in the late 1960’s thought they would be fine with a $10,000 a year pension, and they were fine until Nixon closed the gold window. My Dad did have a white collar engineering job and we still struggled. In 1965 virtually every Mom was at home in brand new house, by 1975 they were all at work because most families needed two incomes to keep inflation destroying the household. The college grads had slim pickings for jobs and lots of them were getting shuttled off to Viet Nam. The Newark riots didn’t erupt out of great prosperity, just the opposite. There are so many people alive who’ve never seen monster inflation. People think inflation is present college tuition and health care costs, but that isn’t inflation at all. When you’re in the midst of rampant inflation every single thing goes up in price every single week.
“absence of economic opportunity”…..I disagree. My father talks of countless manufacturing jobs across NJ. Growing up he had no problem working for one of countless jobs as he went to school. I actually had this discussion with him the other day….we were wondering where my kids would work growing up…I’d like them to learn the value of a dollar when they are teens.
Nixon declared a national wage and price freeze! Can you imagine the dire times when the POTUS tells you that you can’t have a raise and you can’t raise the price of an item you’re in the business of selling?
There are some valid points in this article. Just saying!
Nixon issued Executive Order 11615 (pursuant to the Economic Stabilization Act of 1970), imposing a 90-day freeze on wages and prices in order to counter inflation. This was the first time the U.S. government had enacted wage and price controls since World War II.
The boomers were locusts, this is not a question.
Early 80s was a rough time to be looking for a job out of college.
There is no better example of self-serving bias than the boomer’s own opinion of themselves.
Boomers are locusts. They also came up with the idea of unpaid internships .
https://www.esquire.com/news-politics/a1451/worst-generation-0400/
But the garbage barge just chugs on. As they enter late middle age, the Boomers still can’t grow up. Guys who once dropped acid are now downing Viagra; women who once eschewed lipstick are now getting liposuction. At the risk of feeding their narcissism, I believe it’s time someone stated the simple truth: The Baby Boomers are the most self-centered, self-seeking, self-interested, self-absorbed, self-indulgent, self-aggrandizing generation in American history.
I know it’s a sin to hate, so let me put it this way: If they were animals, they’d be a plague of locusts, devouring everything in their path and leaving but a wasteland. If they were plants, they’d be kudzu, choking off every other living thing with their sheer mass. If they were artists, they’d be abstract expressionists, interested only in the emotions of that moment—not in the lasting result of the creative process. If they were a baseball club, they’d be the Florida Marlins: prefab prima donnas who bought their way to prominence, then disbanded—a temporary association but not a team.
Boomers and gen x spend spend spend. Vote yes for every spending referendum to make their houses worth then complain about high property taxes
Boomer demographics..
Every day for the next 13 years about 10,000 boomers will cross the threshold to retirement and they will also outnumber those under 18 years old. As they get older they will consume more and more services, today do to longevity 42 percent of people who live past the age of 70 will spend time in a nursing home before they die.
Anyone who ever went though that with a family member nursing knows what the costs are. Our “long-term care system” is built around private providers of services, some nonprofit and many for-profit.
There are a bunch for them by me down in Mounmouth county. I am friendly with one soccer dad who runs one. The costs are today around $100,000 per person annually.
@EugeneSonn
Follow Follow @EugeneSonn
More
How is @GovMurphy like @GovChristie? Murphy also raiding clean energy funds to balance budget.
http://www.njspotlight.com/stories/18/03/14/murphy-diverts-136m-in-clean-energy-funds-to-help-balance-budget/
Juice,
In north jersey, those are the low end costs of assisted living facilities with true ‘nursing homes’ being around 20% higher… at least in my familial experience.
When the current generation paves it’s own path, creates it’s legacy for better or worse, then they can offer an opinion. I’ve been told endlessly that perception is reality. If the perception is that millennials are little squeak toys, then change the perception. It goes far beyond creating “apps” which, by the way, the platform wouldn’t even exist without the trailblazing minds of boomers. Until then, go suck on your botty and binky.
I’m familiar with the cost of these nursing homes. The key is to spend every penny you got prior to needing a nursing home. Every center is required to have a number of Medicare beds. You’ll lose your choice, but the price is right! Get bailed out just like the fat cats!
Grim,
Know that is it not uncommon for some nursing homes to require cash pay for a period of time prior to transitioning the patient / resident to Medicaid. This gives the home a measure of certainty the patient qualifies for Medicaid / spends down all of their assets. In some places, the elderly can transfer all of their assets to person(s) of their choice so it appears they have no assets and qualify for Medicaid. While unethical, its legal in many places.
I meant Lib.
Retirement? Wow. What a concept. I took a year off probably to return to the workforce in the fall. Other than having a lot of time to work on whatever I want it is a reminder that real retirement is elusive. But this midlife break. Amazing.
You should use your time off to build an AR from a parts kit.
It’s Medicaid, not Medicare… FYI.
When I was looking around, every place said the had a time period in which they required ‘private pay’ (24-36 months) prior to going on Medicaid. I would guess not every facility has that policy… so like you said, if you’re eligible for Medicaid from day 1, you won’t get to pick any place you want but you’ll save money.
Libturd says:
March 15, 2018 at 10:23 am
I’m familiar with the cost of these nursing homes. The key is to spend every penny you got prior to needing a nursing home. Every center is required to have a number of Medicare beds. You’ll lose your choice, but the price is right! Get bailed out just like the fat cats!
Ahh. Makes a little sense now.
Ex-Jersey says:
March 15, 2018 at 10:54 am
I took a year off
https://www.redfin.com/blog/2018/03/market-tracker-february-2018.html
Home prices up 8.8% in February according to Redfin. Slanted Salant and one-term NAR puppet Gottheimer (I’m running against him) said home prices would fall due to Trump tax changes. Don’t trust media or politicians!
Right… though is a look back period in terms of transferring assets (with a whole host of exceptions/exemptions).
nomad says:
March 15, 2018 at 10:38 am
Grim,
Know that is it not uncommon for some nursing homes to require cash pay for a period of time prior to transitioning the patient / resident to Medicaid. This gives the home a measure of certainty the patient qualifies for Medicaid / spends down all of their assets. In some places, the elderly can transfer all of their assets to person(s) of their choice so it appears they have no assets and qualify for Medicaid. While unethical, its legal in many places.
re: “I took a year off”
And you spent it gnashing your teeth and making vague threats to people on the internet all cause Trump won?
If I took a year off and could disconnect I would perhaps go on a nice long sailing voyage preferably warm seas of the South Pacific. A nice 1000nm sail from Hawaii to Fanning Island, then a trip from Kiribati all the way to Samoa, then Tonga then Fiji, a few months traipsing around the Vanuatu islands and then and end up in the somewhere in the Solomons, and if there was enough time onto Austraila.
Humm that might take more than a year…
Gary I think you need to lighten up on the millenials. When I got settled in a good job in my mid twenties many private sector companies had pensions. Today almost all gone. Health coverage provided by companies was excellent and cheap. I had full family coverage for under 25 bucks a pay check and no co pays and that was in the mid to late nineties!!
Housing was expensive prior to what it was but you could still by a house in a good town for 150 to 200k. And property taxes were 1500.00 to 2000.00 a year and the schools were still good. In fact I would say better. You could also have a spouse stay home if you wanted and still have a nice quality of life. It’s almost impossible today. I could go on but you get the point. The millenials don’t have any of those advantages today. They have not created the environment they find themselves in boomers and gen x people created it. They have it tougher than we did.
Australia is dull.
Ugh…I hate when people only post real estate comments here. Don’t you know this is a Real Estate, Economics, and Politics blog?
Yo! says:
March 15, 2018 at 11:12 am
https://www.redfin.com/blog/2018/03/market-tracker-february-2018.html
Home prices up 8.8% in February according to Redfin. Slanted Salant and one-term NAR puppet Gottheimer (I’m running against him) said home prices would fall due to Trump tax changes. Don’t trust media or politicians!
@TheRickWilson
Divorce is a painful, terrible thing so I’m not going to mock Donald Trump Jr.
Oh, who am I kidding?
3b,
I get it, believe me I do but I’m tired of hearing how the boomers destroyed the world. Anyone born in that time period would have taken the same route. And isn’t it the reason the younger crowd is moving to different locales? To escape the high cost of living? When the millennials get elected, they can enact change to their benefit.
@MikeRBlackman
I bet Donald Trump Jr.’s dad knows some good divorce attorneys.
The Baby Boomers are the most self-centered, self-seeking, self-interested, self-absorbed, self-indulgent, self-aggrandizing generation in American history. – proclaims the generation that is incapable of taking their eyes off their iPhones.
@milkexperiment
Just learned that Vanessa Trump used to date Leonardo DiCaprio.
She later married Donald Trump Jr.
That’s one hell of a drop in standards.
Joyce…you are correct. I always mix them up. And yes, you must burn or transfer your assets five years prior.
Moana making fun of divorce? Pretty stupid move because I imagine his is coming. Actually. I’m dumbfounded that his partner isn’t a Real Doll.
Boomers are garbage generation fighting against healthcare for all as long as they have Medicare
@nypost
Vanessa Trump once called Donald Trump Jr. “the one with the retarded dad”
re: “Australia is dull”
Yeah but who else in the South Pacific can I sell my sailboat to fund my trip home?
Wow. Moana making fun of the retarded and the divorced today. I’m waiting patiently for the progressive rape humor.
Yo! – National home price may be up but not in most of NJ. Hudson County is the only place that has experienced any substantive appreciation. The rest of the state is dead or going sideways. As I have said many times on this blog, something is not right with the North Jersey market. Constricted supply and no appreciation is not what happens in a healthy market.
If you would like to make a bet on the outcome of the midterm election in the NJ’s 5th district, I would be happy to take your action.
Chi, trying to find a playmate for tomorrow. Can’t take my youngest out of school, we’re heading out next Friday to see two colleges and catch a Regional. Trying to find a buddy who wants to get divorced.
Personally think ECAC is going to be great hockey. Nice matchups. Galadja only frosh in Hobey final 10. Donato back on ice after Olypmics. Two top ten teams plus Princeton and harvard, and they always play eachother hard regardless of rank.
Games at 4 and 730 tomorrow, championship at 730p on Sat. Whiteface has 50″ of new snow for all day Sat. fri and Sat nights on town. Gotta find a way to make this happen.
Constricted supply and no appreciation is not what happens in a healthy market.
The new norm? High taxes and no salary growth? All of the above? And the populace elected a governor that wants to pour more fuel on the fire.
@guypbenson
Follow Follow @guypbenson
Poll: Supermajority of GOP voters, including the core Trump base, favor a DACA/border wall compromise. http://www.newamericaneconomy.org/poll/national-2018-immigration-survey/
Very entertaining reading Fast Eddie and Ex Pat defending Boomers. As with anything else they write about, if you are not on their team you are an idiot. Let’s not let any facts get in the way of their name calling or rants.
Fast Eddie, Typical response by you. Please explain what Murphy has to do with the current state of the North Jersey real estate market. This has been fcuked up since long before he was elected.
It’s time for a new search engine.
I’m just amazed at the legions of screen zombies walking around everywhere. I had company paid phones smartphones from 2006 to around 2012, after that they just started giving us $125 twice per month to cover phone/data, etc. I’ve always just pocketed the money and went back to a Samsung flip phone that stays charged for about 5 days. My phone is text capable, but I’m not having any of that, I have Sprint block all text messages to my phone. Anybody who knows me knows that if they really need me they have to call via voice. They can send an email, but there’s no guarantee I’ll see it the same day. If I feel the need to bring the internet with me I just grab my Verizon iPad or my Surface Pro. My wife is the same way, no texting. Both our daughters have iPhones but I have them both rigged so that calls from my wife or I always go through and they know they have to call us via voice if they want approval to do something and keep their phones. It seems to me like the rest of the world is just caught up in this ridiculous vanity of sending unilateral messages back and forth with their thumbs.
30-Yr, CD-5 was always held by Republicans by wide margins. Yes, the district was changed recently…but why do you think the D’s will hold it? Have the demographics or politics of the constituency changed in your opinion?
30 year
There are two houses by me both around 350k and no takers. Property taxes just under 10k. Cheap for my town. Good schools walk to train etc. decent shape one with brand new kitchen. No takers. I am shocked! Last couple of years these would have been gone in a few days. Not now both sitting for 2 to 4 months with price drops! Looks like something changed!
Fast they tried with Bernie right or wrong. The old lefty’s stopped that cold.
can you post the listings…if you wouldn’t mind?
3b says:
March 15, 2018 at 12:53 pm
30 year
There are two houses by me both around 350k and no takers. Property taxes just under 10k. Cheap for my town. Good schools walk to train etc. decent shape one with brand new kitchen. No takers. I am shocked! Last couple of years these would have been gone in a few days. Not now both sitting for 2 to 4 months with price drops! Looks like something changed!
We had another house go on the market last week in our neighborhood, didn’t last 7 days.
NJ homes aren’t selling because job growth is negative. Has been every month since March 2017 (BLS data).
Please explain what Murphy has to do with the current state of the North Jersey real estate market.
He doesn’t have anything to do with it but it’s certainly not going to be any better now. Everything that has a tax attached to it will now go up.
A bi-level just went on the market today, this one will sit because they priced it like the 2 colonials that just went under contract.
re: Trump Jr divorce.
I would gather after some disturbed, coddled, cellar dweller who’s been brought up in a liberal nut job home sent toxic powder last month to Vanessa Trump it pushed her over the edge.
Seems the Masshole Judge just let him out of jail as well.
https://www.washingtontimes.com/news/2018/mar/12/daniel-frisiello-man-charged-donald-trump-jr-white/
30 year, that’s your choice on how you are internalizing it. I don’t think you’ll find anything that is not a fact in what Gary or I wrote. The Boomers did not create the Korean conflict, Viet Nam, fiat currency, or double-digit inflation. That was the prior generation. The oldest boomers were only 16 years old in 1960 and the last weren’t born until 1964. In the article the author of the book explicitly demonizes the first two thirds of the baby boomers, so that actually leaves Gary and I out of it. I was just trying to lend some context to what the economy was in the 1960’s and 1970’s. My parents generation (born in the mid 1930’s) did not even have credit cards until they were in their mid-30’s. They paid for everything by cash or check. ATM cards were invented in 1969 but they didn’t become mainstream until the late 1970’s. The article mentions boomers coming “into power” in 1985. Everything I wrote was only to convey that the 1960’s through 1984 were not by any stretch of the imagination years of great bounty, gold paved streets, or anything like that.
Very entertaining reading Fast Eddie and Ex Pat defending Boomers. As with anything else they write about, if you are not on their team you are an idiot. Let’s not let any facts get in the way of their name calling or rants.
Expat,
Is there a material difference between starting at one’s phone all day (and doing whatever on it) vs reading/posting on this blog all day?
Like I said the other day in the dentist waiting area, everyone was staring at their phone; none of them were very young. The only thing that previously held back older people from using smartphones all the time was because they didn’t know how to use them at all (like my grandparents and VCR’s back in the day).
I guess it’s just a perpetual tradition to call the generations below you soft/coddled/spoiled (similar to the traditions of bully/hazing in school once one is atop the mountain).
I think you have me confused with someone else, although I am a lot less likely to get flattened by a bus or train.
Expat,
Is there a material difference between starting at one’s phone all day (and doing whatever on it) vs reading/posting on this blog all day?
I’m very disappointed in the settlement involving Holmes and Theranos. It’s reminiscent of the Holder policy of fine and admit no wrong doing. In fact, it’s worse given the fine is only 500k. I guess stacking your board with politicians and giving talks alongside ex-presidents has its perks.
My guess is that there is a lot fewer bicycles being ridden these days. Like mowing the lawn or running a snowblower, cycling and texting don’t go together too well either.
Actually, it was bicycling that made me give up smart phones. I used to commute year round by bicycle. When my employer stopped paying for my smart phone directly I took some time to decide what my next phone would be. One month turned into two, turned into three and I suddenly realized that I really enjoyed not being constantly interruptible. When I wasn’t on the bike I had my broadband connection at home or work. So I took my old Blackberry (that my employer let me keep) and bought just a voice plan. I pretty much just used it as a PDA. Then after a few years and batteries the Blackberry stopped working. Sprint had given me a free flip phone when I signed up for my contract and I just blew the dust off the box, pulled out the phone and had Sprint transfer the plan to that and that was probably 5 years ago. Haven’t missed the bulky smart phone since. I think receiving 25 text messages an hour really detracts from productive thought and action so now we’re growing kids who never really learned how to think in the first place.
I’m sure you can quickly count the number of posts and see you vs your buddy’s total.
The Original NJ ExPat says:
March 15, 2018 at 2:14 pm
I think you have me confused with someone else, although I am a lot less likely to get flattened by a bus or train.
The stereotypical caricature of other generations = accurate.
The stereotypical caricature of one’s own generation = nonsense.
How does productivity factor into those NJ numbers, if at all? Is perhaps NJ also experiencing higher levels of productivity relative to the national average? That might explain part of why job growth isn’t so great, if companies can do more with the same or slightly larger levels of human capital.
BTW, do you know where the Tech giants send their kids to school?
http://www.nytimes.com/2011/10/23/technology/at-waldorf-school-in-silicon-valley-technology-can-wait.html
LOS ALTOS, Calif. — The chief technology officer of eBay sends his children to a nine-classroom school here. So do employees of Silicon Valley giants like Google, Apple, Yahoo and Hewlett-Packard.
But the school’s chief teaching tools are anything but high-tech: pens and paper, knitting needles and, occasionally, mud. Not a computer to be found. No screens at all. They are not allowed in the classroom, and the school even frowns on their use at home.
Donald Trump is really the perfect president for the baby boomer generation because his lifestyle embodies our generation’s (lack of) values:
Pre baby boomer generation: Social stigma against not paying debts and/or filing bankruptcy.
Pre baby boomer generation: Social stigma against cheating on your spouse and/or having multiple spouses.
Pre baby boomer generation: Social stigma against a healthy man not readily serving in the military when his county is at war (bone spurs do not make a young man unhealthy).
Most of the values that used to hold our society together have been destroyed by the boomers.
Yep, that’s how you guys talk these days. Strong belief is the same as fact to the untrained mind.
The boomers were locusts, this is not a question.
Most of the values that used to hold our society together have been destroyed by the boomers. – and readily accepted by all future generations. That is the parent’s choice ultimately. In our home we talk a lot about what goes on in the world. I’m not above answering “But everyone’s doing it” with “But that’s not what our family does. Our family is better than that and because you are part of this family I expect better than that from you.”
I even tell my daughters that it is their responsibility to look out for danger so that they can save their friends from being hurt. I tell them that we don’t text while walking in this family. You may not be able to stop your friends from doing it, but you can make sure they don’t get hurt while they’re doing it by being aware and watching out for them.
Today or for all time?
I’m sure you can quickly count the number of posts and see you vs your buddy’s total.
Generational anecdote:
My Parents (Baby Boomers) inherited wealth from their parents (Greatest Generation/WWII). I (Gen X) do not expect any inheritance from my parents.
Plus they came of age at the beginning of an incredible time of economic growth. They bought a house that is worth 10x now (40 years later). Can any Gen X say their house will be worth 10x when they are 70.
So my personal point of view is they have burned through quite a bit, and I feel my story is not unique.
Ex you make valid points as well. I don’t know where the cut off age wise as to how and why the decline started. I am a tail end boomer as it is defined but that cutoff date seems to change as well depending on the article. Whatever the cutoff date I fall under tail end. When I graduated in early 80s the economy sucked lots of college graduates I know then went n y pd or f d ny route. But it improved and the 80s boomed until the bust. But all the rest pensions nice raises cheap good health coverage were all in place in the private sector. Not the case now.
“I guess it’s just a perpetual tradition to call the generations below you soft/coddled/spoiled (similar to the traditions of bully/hazing in school once one is atop the mountain).”
It is, to some extent. But the generation of kids entering the work force right now are super with diversity but don’t have a clue how to handle adversity. We had an issue with my main unit tenants in December. We had a hidden steam pipe leak in the wall of the finished basement that required replacement. Keep in mind, I spent over $3,000 replacing various pipes around the multi in the past three years which had pinhole leaks, but none of them fixed the burning of gallons of water every night when the furnace was running. Keep in mind, this was the second furnace I put in in seven years. First one was 6K, second one was 8K. The first one prematurely died most likely, due to the constant addition of fresh water, which is terrible for furnaces (but that’s a whole other story). Well I finally bit the bullet and rented a thermal camera from the Orange store. Found the pipe and brought in a plumber to estimate the cost of the repair. Keep in mind, this was during the coldest December we’ve experienced in 100 years so all of my faithful plumbers were buried in pipe bursting and new furnace jobs. Guy estimates $1800 for the plumbing and requires me to demo two full walls of basement to completely replace return pipe to furnace. I find and hire a contractor to do the demo and rebuild and scheduled the plumber two weeks after original estimate. It’s the best he could do. This is the best plumber in the area by leaps and bounds. He comes in to do the work and says, “Oh no, theres a little asbestos on those pipe joints.” Keep in mind, a year earlier he replaced the other return for 2K and had no issue with the asbestos. He was just overloaded and didn’t want the job. For sh1ts and giggles, I call the asbestos guy the plumber recommended who lived up the block from the multi. He never returned my calls. Too busy. So I finally find a replacement plumber who knows that minimal asbestos poses no danger, but I have to wait about ten days for my insurance company to inspect the damage. So we are approaching a month from initial issue. Already the tenants are threatening withholding rent (this is the friggin’ basement for cripes sake). I immediately responded that this is the best I can do and when you buy your first place, you’ll see that I’m not sh1tting you. He went ballistic as if I was telling him he was clueless. Which he was. So I offered him out of his lease. I said this place hasn’t been vacant for one day since 1999. It’s your choice. Pay the rent in full or leave. I have no issue either way and no hard feelings. I could get more rent than what I am charging you anyway. Well, he finally shuts up as I provide him my expected return to normal schedule which is about ten more days as my contractor only has time to work on weekends since he’s on a huge multi-month job. I also told him that if he could do better, then send me the number of HIS guy. So everything gets finished on time and looks really good and all is happy in multiville. Then I get a call from the asbestos guy. This attitude is prevalent among this generation. I see it all over. Either they lack social skills or they melt-down at the drop of a dime. I don’t remember the generation prior to ours saying that. Spoiled, yes! Coddled, no!
Which reminds me. Montclair schools are once again running at a 1.5 million budget deficit. Interim super wants to cut bus aides. What the hell is a bus aide? What ever happened to the safety patrol. The whole town is up in arms over the possible cut of bus aides. And what is that going to really save? I also heard they don’t do anything. Many kindergartners have been dropped off to no one waiting or at the wrong stop. It’s like having armed cops in schools. It won’t change a thing.
I guess the point I am trying to make is that these kids aren’t spoiled. They have it way worse than we did. But what they are, is truly clueless about handling adversity. Cause mommy and daddy either didn’t expose them to any or simply solved every issue for them. You suck at math? Go to Kumon. You suck at soccer? Take private lessons. You totaled your new Accord? Here’s another one.
joyce – at least you are getting to the root, Kudos. I worry for those that don’t know they are espousing stereotypical caricatures, which are never good.
The stereotypical caricature of other generations = accurate.
The stereotypical caricature of one’s own generation = nonsense.
Keep in mind that I use “keep in mind,” too often.
I just re-read that Vox interview and I don’t know any possible way an objective reader can not think “circle jerk”. As a thought exercise, if we stipulate that Boomers are indeed locusts, and nothing but, then it follows logically that Obama was the locust-in-chief, right? His administration added more debt than every previous administration combined. Can you honestly say that either of those, uh, gentlemen, in the article would ever say such a thing? You can’t have it both ways. Obama was either the ultimate Boomer $10 trillion locust or the entire premise fails.
On a concrete level, their policies of under-investment and debt accumulation have made it very hard to deal with our most serious challenges going forward.
Who can name a bigger debt accumulator and under-investor than Obama?
“Who can name a bigger debt accumulator and under-investor than Obama?”
I can, it’s called the Congress.
11:32 true enough. In Vegas right now. But i was not/ am not a fan of Trump.
An ironic Real Estate dilemma was often repeated in New Jersey during the 1970’s. It was very typical for executives to get transferred to other regions of the country for a few years and then come back to New Jersey after a few years. The family would end up buying a nice big house in Indiana or wherever using whatever equity they had from their New Jersey house. Then they would be transferred back to New Jersey and, because of much higher NJ housing prices/inflation, could no longer even afford to buy the NJ house they used to own. I remember being in my late teens on a vacation with my parents and friends of theirs that had been transferred across the country. I remember them talking about retirement and my parents friend said, “You still live in New Jersey. You can just sell your house and use that money to retire.”
I’ve got the Kindle app on my phone. So in theory the net effect of staring at my phone could be me reading more books. Sometimes that’s true, sometimes not.
Democrat Super Majority were the votes behind the $900 billion swindle a couple months after Obama’s inauguration.
I can, it’s called the Congress.
What’s your record for the most pages read before the next text message comes in?
I’ve got the Kindle app on my phone. So in theory the net effect of staring at my phone could be me reading more books. Sometimes that’s true, sometimes not.
Trying to be a bit more tolerant of Trump supporters.
Figure most of those folks are clueless and to be pitied.
Muller about to cross the red line?
See a narcissistic baby-boomer superintendent genuflect to his own greatness and those of his current students at minute 1:50……change the world….blow me…
http://www.fox5ny.com/news/long-island-students-walk-out
Lib I agree but who coddled and or spoiled them? My kids were some of only a handful of their school peers who had summer jobs in high school and college. They know the value of hard work. And none of them had unpaid internships as I would not permit my kids to be slaves. You work you get paid friends of mine said they have to or they won’t get good jobs! Wrong!! They are all doing well!
re: “Trying to be a bit more tolerant of Trump”
I gather you have weighed the toll another seven years will take on your
health if you don’t?
Trying to be a bit more tolerant of
Trumpleftist supporters.Figure most of those folks are clueless and to be pitied.
Trying to be a bit more tolerant of
Trumpleftist supporters.Figure most of those folks are clueless and to be pitied.
Obama was another one of those self absorbed boomer/ gen x whatever generation category he falls into.
Leftists are just as clueless!! And bigger hypocrites than trump supporters.
I like when the elite leftists burn their own institutions even though everyone there already votes left. It used to be just poor blacks that did that. California and NYC are such circle jerks. That’s why Hillary won those states by 6 million votes combined and lost the other 48 states by 3 million.
Chi – re: “narcissistic baby-boomer superintendent genuflect to his own greatness”
He is great, he may be highest paid school superintendent in the country ($350k) for a town the size of only 25,000 that is quite an accomplishment. He is also retiring this year so no worry about blowback on a contract renewal.
Born in 1961, he’s a boomer. As grim stated in logic proof: The boomers were locusts, this is not a question. Obama is a boomer, boomers are locusts, so Obama is a locust. Q.E.D.
Obama was another one of those self absorbed boomer/ gen x whatever generation category he falls into.
3b,
It’s a weird world we are living in. One wear you must respect and honor the man who chooses to grow breasts but you can’t use the term “man boobs.”
Here’s another example. I was at on of my son’s hockey games a few weeks back. A dumb hockey mom on the other team wouldn’t shut her pie hole for one minute and she was visibly annoying all the parents on our team as well as a couple of parents of her own team. At some point a kid gets completely pulled down from behind on our team and the ref calls the penalty. She starts screaming, how was that a trip? Now this was pretty much the clearest trip ever. Our kid was carrying the puck up the ice. Was the lead man and the player reached out his stick and hooked the legs out from the puck carrier about 2 feet in front of him. So I simply yell out,”What game are you watching because it can’t possibly be this one.” All the moms on our team, including Gator tell me to shut up. What the F? This wasn’t going to escalate. But everyone is so damn snowflaked today that they would rather listen to this lady shoot her mouth off all game then to tell her to shut the heck up.
Where did this come from?
When did we become French?
Lib it’s getting stranger all the time! And as my wife says she is so sick of bad behavior being rewarded. I agree. But when you open your mouth you pay the price. You have to go along to get it along it seems.
Turd – “All the moms on our team, including Gator tell me to shut up.”
Two strikes…..
First, you expected a woman to understand the game, and when she didn’t you yelled at her.
Obama is the most over rated President ever in my opinion. Yet the so called left venerates him as a god.
Bookkeeping Fee on my 401K has gone up again. $22.50 per quarter if over $100K. How much do you guys pay? Just curious.
4:35 Lib – Maybe breathalyzers could be used to eject parents at those hockey games?
LOL. You might not know the half of it. Did you ever notice that some 401K mutual fund shares are a completely different class of shares that you can buy in the same fund as a retail customer? Here’s the dirty little secret (especially for small companies): Your entire company’s 401K plan can actually be inside of an annuity wrapper. You possibly don’t even own any of the mutual funds you think you own, the fund’s performance is just kind of mirrored within the annuity wrapper. I found this out way back in 2001 or 2002 when I moved all of my money into the lone money market option. Guess what? I lost money in the money market. Not a lot, maybe $2.50 on $40,000, but still, lost money (and the fund didn’t break the buck). All of the fees and commissions are drained from the annuity wrapper. If everybody in your company chooses the money market, there isn’t enough money to pay the salesman, so they just cut a small slice out of everybody’s pie anyway. Here’s the big danger. In these type of 401K’s there is one guy, usually the CEO, who is the principal owner of the whole shebang. That person can say he’s moving the 401K to a different company and get personally cut a gigantic check with everybody’s loot in it. He can then run off with that money, and it has happened. I always wished I could get fired for one day a year just so I could roll my money out of the 401K. If you ever leave your company, make sure to roll everything over post haste! Also, don’t roll 401K money into an existing IRA, though you are allowed to do this. Keep all funds in a separate Rollover IRA. The reason for this is that once you mix those two types of IRA money, they can never be separated again and rolled into a future employer’s plan. I don’t know why you would ever roll money into some company’s crappy 401K plan. The only reason I can think of is if you wanted to take out a big loan that gets you to somewhere you want to be before 59-1/2. Here’s another 401K quirk. If you can manage to “lose” your job after age 55 (not quit, get fired), you can draw from that company’s 401K plan with no penalty (you still have to pay the tax) as it is considered early retirement. So if you’re flush enough, you can retire at 55.
Bookkeeping Fee on my 401K has gone up again. $22.50 per quarter if over $100K. How much do you guys pay? Just curious.
different class of shares that you can’t buy as a retail investor.
Here you go:
https://www.forbes.com/forbes/2009/0713/group-annuity-aig-retirement-plans-from-hell.html#47b773c6219f
Short version:
http://www.annuitydigest.com/news/pitfalls-using-group-annuities-wrapper-401k-plans
I just got taken for a ride by the city of Clifton, or I should say boomers in power. Changed the rules of the game midway through the game. Implemented an ordinance that they were no longer responsible for sewer breaks connected to main under public street. I just had a break at the connection of the main about 14 feet down in the middle of the road and I’m responsible for the costs. Insurance only covers to the curb, as they claim that’s not my property in the street. Yes, you can’t make this crap up. Bill is 12,531 dollars. I’m going to go puke now. I’m finally had a rude awakening and understand the mafia that runs our govt.
Going to drink tonight, drink hard!
Why mafia? I have to pay almost 1,000 dollars for a cop to sit there and waste gas in a tax payer car. Wtf?!?!
Best part, I had to pay 900 to have the spot repaved in two years on a road that’s prob going to have to be replaced in 4 years. Really can’t make this sh!t up!
Pumps is fired up!
They should have had this ordinance approved by every homeowner, instead they sneak it in and people only find out when it happens to them.
Before someone purchases a home, they should be made aware of this clause so they are not left homeless if unable to pay to fix it. So wrong.
F U Boomers!! F U and changing the rules mid game!
Pumps – you are such a dickhead, I’m glad it happened to you only because you are a bandwagon jumper and would have made a good brown shirt Nazi (obviously not smart enough to be SS). Can you provide documentation that the Baby Boomer generation caused you this financial loss? Sure you can, about as easily as you could show a High School diploma.
Hahahahahahahahahahahahahahahhahahahahahahaha!
I guess you did get screwed by a cadre of Boomers. I still love it!
http://www.cliftonnj.org/content/city-council
Who was in power when the ordinance was swept through under the table…. some boomer sociopath with no conscious.
There are good boomers, but the ones that came to power are no good. They robbed a lot of generations of wealth, esp the future.
But you know, as the article says, you are not paying enough into infrastructure. Now you are!
Hahahahahahahahahahahahahahahhahahahahahahaha!
And you can laugh…. just shows the type of people boomers are.
I think we covered this word before. You missed it on your last crack at getting your GED.
no conscious
BTW, didn’t you say that paying into the town is just the cost of community/society and keeping the riff-raff (I think you misspell this word too) out? Welcome to the public good. Your donation is appreciated.
The councilman second from the left…. Gibson. His son was on my high school soccer team. Cried to his dad to talk to Rossi to get playing time. His dad was a cop in Clifton. Long story short, this sad man was caught jerking off to a couple making out at weasel brook park in the early 90’s. He was in his cop car doing it. Yes, and now he is a councilman and his son is a cop in Clifton.
Loser!
Hey Pumps – Isn’t one of those other last names kind of familiar?
Lib,
I owe you an apology and prob a case of beer. You were right and I was wrong.
Expat,
You are still an a$$hole boomer.
With a college degree.
Pumps…I don’t care if you agree with me. But one day you will realize how good the going is for cops, fireman and most of the workers down in the municipal building. And one day, perhaps, you’ll realize that you are paying top dollar for the least qualified and most stupid people you could ever find.
I suspect that may be a very tough calculation for our boy Pumps. Kind of pot and kettle, you know?
And one day, perhaps, you’ll realize that you are paying top dollar for the least qualified and most stupid people you could ever find.
I just got taken for a ride by the city of Clifton, or I should say boomers in power. Changed the rules of the game midway through the game. Implemented an ordinance that they were no longer responsible for sewer breaks connected to main under public street. I just had a break at the connection of the main about 14 feet down in the middle of the road and I’m responsible for the costs. Insurance only covers to the curb, as they claim that’s not my property in the street. Yes, you can’t make this crap up. Bill is 12,531 dollars. I’m going to go puke now. I’m finally had a rude awakening and understand the mafia that runs our govt.
Going to drink tonight, drink hard!
Get your brother to fix it.
All the moms on our team, including Gator tell me to shut up. What the F? This wasn’t going to escalate. But everyone is so damn snowflaked today that they would rather listen to this lady shoot her mouth off all game then to tell her to shut the heck up.
Where did this come from?
It arose spontaneously.
My Parents (Baby Boomers) inherited wealth from their parents (Greatest Generation/WWII). I (Gen X) do not expect any inheritance from my parents.
Plus they came of age at the beginning of an incredible time of economic growth. They bought a house that is worth 10x now (40 years later). Can any Gen X say their house will be worth 10x when they are 70.
So my personal point of view is they have burned through quite a bit, and I feel my story is not unique.
My grandfather died 8 years ago (WW2 vet). Had a house fully paid off in Bergenfield. My grandmother is still alive and also had a house fully paid off in Bergenfield. My uncles mortgaged it to the hilt and it got foreclosed on. One still squats there. My grandfather left the house to my parents. They blew through the entire 350k from the sale in one year and then had their own home foreclosed on. They then got separated after 30 years of marriage. Neither have a dime to their name at this point. My father is still a doctor so he makes six figures but he blows through everything. My mother is just a charity case at this point.
The sad thing is, they didn’t pay for my little sister’s college at all while they were blowing through all that wealth.
A Polish guy I know had a septic tank cleaning business. He had a Puerto Rican assistant. At every job they went to the Polish owner went down into the septic tank and handed up buckets of sh1t to he PR employee. One day somebody asked him why, as the business owner, he had to get waste deep in sh!t and hand the buckets up to the PR assistant, who didn’t get that dirty. His reply was, “After years of building my own successful business you expect me to take sh1t from a Puerto Rican?”
Pumps I have been trying to ignore you but I will say I am sorry for your sewer matter. But really are you saying that boomers got together and planned this change? Also do you know for a fact that if they did were they in fact boomers or could they have been generation x ers? Or were a crowd of mid to late 30 somethings whatever they are called.
And now after all this time and all the discussions we have had on this you are suddenly on the lib and 3b and others bandwagon! Now that you are personally affected your tune changes. It’s what I have been saying about you all along.
Blue sad story. Sorry to hear that it never should have happened.
My boy blue, I am from that area, was just there for the St. Patrick’s day parade.
When you see this again things are going to get bad.
I am going to convice my mom on getting out for good….anyone paying near this is a fool.
https://www.zillow.com/homes/for_sale/Bergenfield-NJ/44137_rid/globalrelevanceex_sort/40.940197,-73.970819,40.906863,-74.026266_rect/13_zm/
Bergen field has been in decline for years. Washington Ave looking run down.
re: last post.
Zillow has changed their link posting, the scripts now redirect to the general map instead of the listing.
House I pointed out is a post WWII cape in Bergenfield with no dormer selling for $500k and 10k in taxes. Last sold in 1995 for 175k. 135 Ames Ave,
Bergenfield, NJ 07621
This is bubble price from the last decade.
Now is the time to pull the trigger and sell before the noise confuses those buying.
obsolete review of rules…..no longer the case that IRA money can be tainted….
The Original NJ ExPat says:
March 15, 2018 at 5:28 pm
If you ever leave your company, make sure to roll everything over post haste! Also, don’t roll 401K money into an existing IRA, though you are allowed to do this. Keep all funds in a separate Rollover IRA. The reason for this is that once you mix those two types of IRA money, they can never be separated again and rolled into a future employer’s plan.
Yes, after they successfully wasted money for years, they tried to contain property taxes with shady moves like this ordinance and a sewer tax.
“But really are you saying that boomers got together and planned this change?”
Owns a plumbing company, not a sewer company. He tried snaking it and found out the pipe was broken.
“Get your brother to fix it.“
chi – That’s why you are the pro. Thanks.
BTW, I’m assuming your comment is based on mixing IRA and rollover 401K no longer a problem? You aren’t advising against rolling over into your full control 401K funds, right? Actually there is a reason not to roll over those funds. If you want to withdraw penalty free between ages 55 and 59-1/2 upon losing employment, I believe (unless T. Rowe Price lied to me) that you must keep the money at the current custodian. If you roll it over you have to leave it there until 59-1/2 to withdraw penalty free, right?
obsolete review of rules…..no longer the case that IRA money can be tainted….
When I see things like this, reconfirms that I bought at a great time. Didn’t even get started yet, juice. Just wait till 2024/25. The run is just getting going.
“House I pointed out is a post WWII cape in Bergenfield with no dormer selling for $500k and 10k in taxes. Last sold in 1995 for 175k. 135 Ames Ave,
Bergenfield, NJ 07621”
Sue him.
Owns a plumbing company, not a sewer company. He tried snaking it and found out the pipe was broken.
“Get your brother to fix it.“
Doesn’t everything reconfirm that you are a financial genius? I’d celebrate with some spray pancakes with Dad.
When I see things like this, reconfirms that I bought at a great time.
BTW, if you leave employment with outstanding 401K loan(s) you can repay them quarterly in the arrears without defaulting and taking the outstanding balance as income. I’m not sure if every plan allows for that, but some do.
If only they had been a little older or a little younger they wouldn’t have screwed you because only baby boomers are criminals. Take your Dad, for instance.
Yes, after they successfully wasted money for years, they tried to contain property taxes with shady moves like this ordinance and a sewer tax.
“But really are you saying that boomers got together and planned this change?”
I think your Dad is just about my age. Imagine that.
Wasted money how? You have been saying for how long now that the taxes here are justified the services great the schools and police. And now as of today it’s boomers wasting money!! You are something else!!
““Overheating — in the form of a sharp pick-up in inflation — is still a good way into the future,” Robin Brooks, chief economist at the Institute of International Finance, said of the U.S.
In a report to clients on Thursday, Nomura Holdings Inc. economist Andrew Cates wrote that there is “plenty of scope for this cycle to mature” because tightening labor markets and stronger demand should prompt companies to invest and productivity to advance, allowing the global expansion to continue.”
https://www.bloomberg.com/news/articles/2018-03-15/the-world-economy-risks-turning-too-hot-to-handle-as-g-20-meets
By not investing in infrastructure.
“Wasted money how? You have been saying for how long now that the taxes here are justified the services great the schools and police. And now as of today it’s boomers wasting money!! You are something else!!“
Just milked the current system and gave themselves tax breaks over and over again. So selfish. And don’t say other generations are like this..,
Owns a plumbing company, not a sewer company. He tried snaking it and found out the pipe was broken.
It was a joke.
Bergen field has been in decline for years. Washington Ave looking run down.
It’s been looking run down for a long time. Used to be such a great road. We all used to look forward to the sidewalk sale. The town is a sad shell of its former self. Was such a great c
It was such a great community in the 80s.
Btw, if you want to laugh, when I was in elementary school at Franklin, they talked about the old chair factory on coopers pond. They talked about how it burned down but never knew why. The why was because my father and his friends took a little wooden sailboat and set it on fire in coopers pond. It was sailing around the pond and the wheel took it into the mill and up it went. And I knew it then and was afraid he would get arrested if I told the teacher.
Met a girl when I moved down to the shore. She was a Westervelt. Her entire home was filled with chairs from that factory.
That roto rooter building on Front St. parallel to the tracks, you know how there is just a sharp 90 degree turn. My uncle was wasted and drove right through the building (before it was Roto Rooter). I swear, my father and his brothers were the worst thing that ever happened to that town in the 60s and 70s.
And that’s why I’m pissed. If your generation would have just payed for what they were taking from society, instead of lowering their tax bill, individuals from future generations like myself wouldn’t get caught in their scam to pay the bill for their infrastructure neglect. Why did I get burned, being forced to pay for this individually, when it’s the towns property and their infrastructure? If Insurance refuses to cover the cost because they claim it’s not my property, why am I getting hit with this bill individually as opposed to collectively through property taxes?
Think of it like this. The city of Clifton just stuck me with their 12,500 bill. Their boomer generation of leaders didn’t have the balls to raise taxes, instead they stick individuals with a 12,500 increase in their tax bill on a given year….and wash their hands clean as if they didn’t raise taxes. Sociopaths.
Dirty game your generation is playing. Dirty!
And my brother used to own the home next door (built himself). He had to pay 9,000 for his ( wasn’t as deep as mine). Guy across the street, same thing, had to fix it. Just drive around that neighborhood, and all you see are patches in the road where the sewer line was repaired. All paid individually thanks to the ordinance.
Karma. Try not being such a sh1t.
If Insurance refuses to cover the cost because they claim it’s not my property, why am I getting hit with this bill individually as opposed to collectively through property taxes?
You can tell my Pumps’ attitude that he would have gladly joined any lynch mob.
You’re the absentee landlord cramming as many sh1tting asses in your crapshack as you possibly can. Time to pay the piper.
Guy across the street, same thing, had to fix it. Just drive around that neighborhood, and all you see are patches in the road where the sewer line was repaired. All paid individually thanks to the ordinance.
You can’t say this in a more concise manner. Hillary Clinton is just a stupid, stupid cunt. Her new theory is that husbands, bosses, and sons forced white women not to vote for her. You can’t make this sh1t up.
https://www.youtube.com/watch?v=C8WhRhoNdT8
As if on cue, the asshat Washington Post thinks she is right (obviously they are just covering for her dementia and wishing she would just die):
https://www.washingtonpost.com/news/the-fix/wp/2018/03/13/like-it-or-not-studies-suggest-that-clinton-may-not-be-wrong-on-white-women-voting-like-their-husbands/?utm_term=.a8395126cb93
“We don’t do well with white men, and… we don’t do well with married white women” – That sounds a lot like a nonviable candidate in the US, right?
Look who’s talking.
The Original NJ ExPat says:
March 15, 2018 at 10:31 pm
Karma. Try not being such a sh1t.
Lynch mob? I said there are plenty of good boomers out there that have helped our society, unfortunately none of them became decision makers in our society. The sociopaths of your generation did, and Trump is a prime example of one. I have never heard a President speak like this. What kind of role model is he? Says a lot about your generation.
The Original NJ ExPat says:
March 15, 2018 at 10:38 pm
You can tell my Pumps’ attitude that he would have gladly joined any lynch mob.
And you are a prime example of your generation. You laugh at me for incurring a 12,500 sewer bill that wasn’t even on my property. You know how much money that is? Nice of you to laugh at my surprise bill. You def have a lot in common with trump. narcissistic and lack of empathy.