From NJ Spotlight:
SOME GOOD NEWS FOR NJ HOUSING MARKET, BUT FORECLOSURES STILL A FACTOR
Even as real-estate agents see encouraging demand for Shore rentals, and home prices in parts of New Jersey creep gradually higher, analysts and academics say foreclosures continue to slow the state’s housing market and economy.
In some areas, such as previously fast-growing counties on the suburban fringe or long-depressed urban areas, low prices may be precursors of lasting economic change, according to the experts.
While the overall numbers have improved, New Jersey continues be among the leaders in both foreclosures and mortgages in trouble. Home values, which in much of the country have rebounded strongly since the Great Recession, continue to tread water in much of the state.
In some communities, the picture is worse. Atlantic City and Trenton rank first and second in the nation for foreclosures. Beyond those obvious sore spots, observers point to areas like Ocean County, where they say the twin blows of the recession and superstorm Sandy may be changing the long-term dynamics of the real estate market.
…
In the midst of preparing his firm’s latest, generally cheerful overview of housing trends around the nation, Daren Blomquist, a vice president of RealtyTrac of Irvine, CA, agreed to take a closer look at New Jersey markets.“In many ways what we’re seeing in those areas, and for New Jersey overall, is running counter to the positive national trend,” Blomquist said. “There are still a lot of foreclosures, a lot of distressed mortgages and prices remain well below the pre-recession peaks.”
By RealtyTrac’s reckoning, median home prices reached their peak in New Jersey at $350,000 in July 2007, a bit later than most of the nation. Even after a jump in March, they are now at $265,000, 24.3 percent lower, the firm reported.
…
The numbers vary, but CoreLogic, another Irvine, CA, real-estate analytics firm, agrees that New Jersey is lagging. In April, it reported the state’s average housing prices rose by 1.6 percent during the previous year. But that gain was less than 46 other states and the District of Columbia. For the nation, the increase was 6.8 percent, CoreLogic found.“NJ has experienced a high foreclosure rate and large number of distressed sales that have slowed home-value improvement,” said Frank Nothaft, CoreLogic’s chief economist.
Another housing-data firm, Seattle-based Zillow, calculated that housing values have dropped 11 percent in Atlantic City in 12 months, and 26.7 percent of mortgages there have negative equity, debt higher than the property value.
The problems extend beyond the city. Egg Harbor and Pleasantville were both down more than 7 percent, according to the firm. Dennis and Woodbine townships in Cape May County both saw double-digit drops in home values, though based on fewer sales. In Cumberland County, Bridgeton homes are worth only an average of $68,300, but their prices are also falling.
In Mercer County, Zillow showed the average value of a Trenton home is $83,000, down 1.4 percent. Prices are nearly twice as high in Neighboring Hamilton Township, but they dropped 1.9 percent, the firm found.
In Newark, where for a time housing values were coming back slightly faster than the state average, recent CoreLogic report shows them stagnant or receding, down half a percent in the most recent findings.
In contrast, housing data from the firms show Philadelphia prices rising 29 percent. Brooklyn has become one of the least-affordable places in the country compared to its historic norms. The New York City area as a whole, including Jersey City, saw a 4.3 percent year-over-year price increase.
Asked to assess these trends, Professor Charles Steindel of Ramapo College, the state’s former chief economist, pointed to the same culprit in the problem areas. “Foreclosures are still high” in much of the state, he said.
But Steindel added he is “a little encouraged that home prices are falling” in some of those places. To an extent, that reflects properties moving through foreclosure and coming to market at lower prices, he said. “The number of (new) cases is finally coming down,” Steindel said, creating a path toward potential improvement.
frist!
Cross-referencing the Morris County Sheriff Sale list with Morris County Clerk records, it is easy to see that there are sheriff sales scheduled for this Summer on properties that have been in default since 2007. Imagine how much money you could save to buy your next house for cash if you could live rent free in you current house for a decade or more. I still think there are middle/upper middle class neighborhoods in NJ where the banks can only foreclose very, very slowly else they tank the entire local market.
Chinese water torture. 50 years in the wilderness. Much gnashing of teeth. Abandon hope, all ye who enter here.
Smoke ’em if you got ’em, folks. It’s all about to go from gray to black again.
Go long whiskey
and pays 6 figures to posters to increase traffic
mail my check to DNC
grim says:
April 29, 2016 at 7:14 pm
Zero Hedge founder lives in a multimillion dollar mansion in Mahwah.
People pay democratic celebrities to stand around and increase traffic. Is this news to you?
You know, like Kim Kardashian, and Hillary Clinton, who routinely accept 6 figure payouts to increase traffic.
Zero Hedge.. nice place.
http://www.zillow.com/homes/for_sale/2-BRAMSHILL-DRIVE-mahwah-nj_rb/?fromHomePage=true&shouldFireSellPageImplicitClaimGA=false&fromHomePageTab=buy
7 – Surprised that the pictures online don’t showcase the underground SHTF bomb shelter full of gold bars, MRE’s, and guns/ammo.
Detroit should just call it a day, and bulldoze the place.
CNN)Ninety-four out of 97 Detroit Public Schools are closed Monday because instructors called in sick, school district spokeswoman Michelle A. Zdrodowski said. The so-called sickout came after teachers found out they would not be paid for two months of work.
Over the weekend, teachers learned they would not get salaries for May and June, according to Ivy Bailey, the interim president of the Detroit Federation of Teachers. Instructors were going to rally at 10 a.m. ET at the district’s central administration building.
http://www.cnn.com/2016/05/02/us/detroit-schools-teacher-sickout/index.html
I’m sure there are some imams who would gladly take their place free of charge. Of course lessons in using email would likely be replaced with Ishmael and the cafeteria snack bar might be renamed Aloo Akbar. Please don’t mecca too much out of this.
From the AP, with more hidden racism and anti big business mixed together.
NICKERSON, Neb. — Half-ton pickup trucks crowd the curb outside the One Horse Saloon, a neon Coors Light sign in the window and rib-eye steaks on the menu, but otherwise Nickerson, Nebraska, is nearly silent on a spring evening, with only rumbling freight trains interrupting bird songs.
Regional economic development officials thought it was the perfect spot for a chicken processing plant that would liven up the 400-person town with 1,100 jobs, more than it had ever seen. When plans leaked out, though, there was no celebration, only furious opposition that culminated in residents packing the fire hall to complain the roads couldn’t handle the truck traffic, the stench from the plant would be unbearable and immigrants and out-of-towners would flood the area, overwhelming schools and changing the town’s character.
“Everyone was against it,” said Jackie Ladd, who has lived there for more than 30 years. “How many jobs would it mean for people here? Not many.”
The village board unanimously voted against the proposed $300 million plant, and two weeks later, the company said they’d take their plant — and money — elsewhere.
Deep-rooted, rural agricultural communities around the U.S. are seeking economic investments to keep from shedding residents, but those very places face trade-offs that increasing numbers of those who oppose meat processing plants say threaten to burden their way of life and bring in outsiders.
“Maybe it’s just an issue of the times in which we live in which so many people want certain things but they don’t want the inconveniences that go with them,” said Chris Young, executive director of the American Association of Meat Processors.
Nickerson fought against Georgia-based Lincoln Premium Poultry, which wanted to process 1.6 million chickens a week for warehouse chain Costco. It was a similar story in Turlock, California, which turned down a hog-processing plant last fall, and Port Arthur, Texas, where residents last week stopped a meat processing plant. There also were complaints this month about a huge hog processing plant planned in Mason City, Iowa, but the project has moved ahead.
The Nickerson plant would have helped area farmers, who mostly grow corn and soybeans, start up poultry operations and buy locally grown grain for feed, said Willow Holliback, who lives 40 miles away and heads an agriculture group that backed the proposal.
“When farmers are doing well, the towns are doing well,” she said.
The question of who would work the tough jobs was at the forefront of the debate, though many were adamant they aren’t anti-immigrant. Opposition leader Randy Ruppert even announced: “This is not about race. This is not about religion.”
But both were raised at the raucous April 4 meeting where the local board rejected the plant. One speaker said he’d toured a chicken processing plant elsewhere and felt nervous because most of the workers were minorities.
More overtly, John Wiegert, from nearby Fremont where two meat processors employ many immigrants, questioned whether Nickerson’s plant would attract legal immigrants from Somalia — more than 1,000 of whom have moved to other Nebraska cities for similar jobs, along with people from Mexico, Central America and Southeast Asia.
“Being a Christian, I don’t want Somalis in here,” Wiegert, who has led efforts to deny rental housing to immigrants in the country illegally, told the crowd. “They’re of Muslim descent. I’m worried about the type of people this is going to attract.”
Others pointed out that, given Nebraska’s unemployment rate is among the nation’s lowest near 3 percent, few local residents would accept the entry-level jobs. While the projected wage of $13 to $17 an hour was above the region’s current median wage for production workers, opponents argued meat processors generally have high turnover.
“We aren’t against jobs,” farmer John Schauer said. “We want clean, stable jobs.”
The land is flat and rich around Nickerson, which is a half-mile off a narrow state highway about 30 miles from Omaha. The town’s tidy but often faded single-story homes sit on large, grassy lots. There’s a small cluster of commercial buildings, most of them long shuttered, and a grain elevator.
Its school was demolished more than a decade ago, leaving only the old playground, but residents take pride in the regional school district. Superintendent Jeremy Klein told the village board he worried new students would overwhelm local schools and that tax breaks would limit any extra money to hire more teachers.
“It’s impossible to know what the size of that impact will be,” Klein said days later.
People seem to be more willing than in earlier eras to fight developments they think could harm the environment or change an area’s character, University of Nebraska-Lincoln economics professor Eric Thompson said, even if the development offers an economic boost.
Mason City official Brent Trout said he heard all the arguments against the $240 million plant planned some 200 miles northeast of Nickerson: What’s the environmental impact of an operation that will process up to 22,000 hogs daily? How will 2,000 new jobs affect the isolated city of 27,500?
It’s already hard to attract employers to Mason City, which has lost about 10 percent of its population over the last 30 years, he said. But, like Nickerson, Mason City’s best selling point is its focus on agriculture: “This is what Iowa is. This is what Iowa does,” Trout said. “We raise pigs and we process pigs.”
Although Nickerson residents have succeeded in pushing away the industrial-scale operation, opponents said they’re getting better organized to help the town that’s targeted next.
“I’ve lived in exotic places, but I’ve never wanted to live anywhere but here,” said Chuck Folsom, an 88-year-old former Marine and farmer. “We’ve got to protect the land. We’re not making any more of it.
“Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without [integrity], you really want them to be dumb and lazy.”
― Warren Buffett
Whoops! Some get this to the twitiot so he can find some science denier tweets
http://www.realclearscience.com/journal_club/2016/04/27/raising_income_taxes_wont_fix_wealth_inequality_109613.html
Not klibturd [11],
Rac1sm. Sure. Because you say so. F.uck you. People are tired of giving in to every other culture, walking on egg shells they’ll “offend” somebody, appeasing trans “whatever flavor I feel like today” losers while breaking their ass trying to make a living and supporting 50% of the country. Come to a get-together so we can discuss it.
Twitiot, Klibturd, Yome, and the other fellow travelers:
Here’s a quote from The Donald.
“I have a lot of experience dealing with women who sometimes get off the reservation in the way they behave and how they speak.”
Please weigh in on all of the “‘isms” you can find. Bonus points for new isms.
Jism?
[7] BTW, even fixing wealth inequality doesn’t fix it:
Abstract
The role of parental wealth in child outcomes is a central question in social science, starting with Thomas Malthus’ assertion that families dissipate extra income through increased fertility and continuing up to the modern literature that argues credit-constraints impede parents’ investment in their children’s human capital. We analyze at long horizons the impact of a random wealth shock arising from a land lottery in antebellum Georgia, which was just beginning its demographic transition. Following up two decades after the lottery, we find that winners had more children than non-winners, but did not send them to school more. Thus, the response to wealth was more on the side of “quantity” than “quality.” We also follow up on the adult outcomes (five decades after the lottery) of sons whose fathers were eligible for the lottery. We see no evidence of better adult outcomes (wealth, income, literacy) among the sons of lottery winners. Nor do the lottery winners’ grandchildren have higher human capital, as measured by literacy and school attendance. We also document significant heterogeneity across family groups in their fertility and human capital but insignificant differences across these groups in how wealth affects their behavior. This suggests a limited role for family resources and other dynastic factors in understanding the demographic transition, at least in this context.
https://econresearch.uchicago.edu/sites/econresearch.uchicago.edu/files/bleakley.pdf
Ted Cruz thinks he is Adrian Peterson now, he can hit his kids and get away with it in Texas.
16. LOL!
17. Wealth inequality has low correlation to adult success? So, basically we are back to the obvious, work hard and do well? And if you don’t, you won’t? Whoda thunk.
11. 1.6 million chickens a week? A WEEK? Even three shifts by seven days that’s a quarter million chickens a DAY, and 10,000 per HOUR. Wow…….How do you even find that many birds within a reasonable geographical radius consistently? How do you ship that many to the plant? Crazy numbers.
and todays you never no who is swimming naked report..
NY POST: Rich kid thought his dad had a lot more money than this before alleged killing
The spoiled hedge-fund scion accused of murdering his father for cutting his allowance by $200 might have thought twice if he had known his dad was only worth $585,555.50.
Thomas Gilbert Sr.’s fund, Wainscott Capital Management, never took off and he was in no position to fund the kind of lavish lifestyle of leisure and black-tie parties his son, Thomas Jr., had become used to, according to court papers.
The elder Gilbert — who was allegedly gunned down by his son last year in the allowance spat — had less than $10,000 in stocks and bonds, under $20,000 in cash and retirement accounts, and some $500,000 in “miscellaneous” assets, according to the court papers, which were filed last month in Manhattan Surrogate’s Court by an attorney for Gilbert Sr.’s widow, Shelley Rea Gilbert. Gilbert Sr., 70, also had no life insurance.
The elder Gilbert was once a successful Wall Street money man who lived in an Upper East Side brownstone. But as his bid to start his own hedge fund apparently faltered, he sold the home and started renting a Beekman Place apartment.
Tommy — a Princeton grad with an economics degree who whiled away the days practicing yoga, surfing and hitting the city’s charity circuit — had been feuding with his father over his $400 monthly stipend, police said.
Gilbert Sr., also a Princeton alum, had propped up his 30-year-old kid, including covering his $2,400 rent. The dilettante son constantly complained that “his dad was hypercritical of him, he couldn’t do anything right,” Tommy’s ex-girlfriend, Anna Rothschild, told The Post in an exclusive interview last year.
“He talked a lot about his dad and how mean he was to him and how nothing was good enough,” Rothschild said.
Shelley Rea had thought Gilbert Sr.’s estate was worth at least $1.6 million when she petitioned the court for access to her husband’s funds immediately after his death. She’s paying her son’s legal fees, a source told The Post.
Tommy was a major beneficiary of his father’s will — which was written just two years before the alleged patricide.
Meanwhile, the spoiled son was in court last week griping about the lack of cable TV in his jail cell.
Tommy’s criminal defense lawyer, Alex Spiro, declined to comment. In the past, Spiro has argued that his client is not mentally competent, though an insanity plea was rejected by a judge.
no =know,
….Being a Christian, I don’t want Somalis in here with a knife in their hands ….
Amen!
Fast Eddie says:
May 2, 2016 at 2:27 pm
Not klibturd [11],
Rac1sm. Sure. Because you say so. F.uck you. People are tired of giving in to every other culture, walking on egg shells they’ll “offend” somebody, appeasing trans “whatever flavor I feel like today” losers while breaking their ass trying to make a living and supporting 50% of the country. Come to a get-together so we can discuss it.
11. i like the fact that they wanted to preserve their town’s chill and din’t give a crap about some shitty chicken processing plant.
Look who Ted Cruz is debating now:
https://www.youtube.com/watch?v=mvzcX4GQEHY
Post debate interview:
https://www.youtube.com/watch?v=AUqo7wCXDgo
BREAKING NEWS:
Jersey City municipal government is full of lying liars who lie and waste your tax dollars.
http://www.nj.com/hudson/index.ssf/2016/05/inaccurate_reval_info_on_jersey_city_budget_doc_le.html
People in JC’s City Hall make Mocco look honest.
” i like the fact that they wanted to preserve their town’s chill and din’t give a crap about some shitty chicken processing plant”
I go to a local (Morris Co) slaughterhouse for good meats. Sorry – abbatoir – since it is only a brisk walk from some serious zip codes….Anyway….
Went there once when their contractor was pumping the offal. Literally nearly puked. Never smelled anything like that in that my life. And they are just a big barn basically.
Do the chicken slaughter math. Even with only eight ounces total, that is 800,000 lbs of guts and waste a week. Excluding excrement. That’s 400 TONS of blood, guts and waste a week. 60 tons a DAY.
You could not pay me enough money to be within 20 miles of that place. Particularly in exchange for some $13-15 jobs for people TBD.
Fight for 15 ( and fight yourself out of work)
Florida Gov. Rick Scott wants to use the minimum wage hike to steal California businesses
http://www.latimes.com/business/la-fi-florida-gov-jobs-minimum-wage-20160429-story.html
Florida Gov. Rick Scott is back, and he is again gunning for California’s businesses.
On Sunday, Scott arrived in Los Angeles, where he will spend three days trying to persuade companies and regular Californians to pack up and head for Florida. He made a similar trip last year, to entice shipping companies to move goods through Florida’s ports.
Now he says he has extra leverage: California’s pending minimum wage hike.
“My goal, one-hundred percent, is to get individuals and companies to move to Florida,” Scott said in an interview. “By raising the minimum wage in California, 700,000 people are going to lose their jobs, there are a lot of opportunities for companies to prosper in Florida and compete here and that’s what I’m going after.”
On Monday, California Gov. Jerry Brown sent a letter to Gov. Scott suggesting that his fixation on California is misguided. “We’re competing with nations like Brazil and France, not states like Florida,” Brown wrote. He also sent Gov. Scott a report with research on the effect of climate change on Florida’s coastline, and urged the Governor to “stop the silly political stunts and start doing something about climate change.”
An arm of Florida’s government released a radio ad that aired in L.A. and San Francisco last week criticizing the $15 minimum wage, which goes into full effect in seven years, warning of layoffs and job-stealing robots.
California’s current minimum wage is $10 an hour. Florida’s is $8.05 an hour.
“This place is beautiful, but you just can’t afford to live here,” the spot warned.
http://www.bloomberg.com/news/articles/2016-05-03/super-rich-were-first-to-bail-when-lehman-collapse-ripped-stocks
Stop blaming minimum wage, you scammer. Job-stealing robots are coming for every job and it’s not because of the minimum wage. What’s sad, now you are going to have a group of people read this, and blame the minimum wage which has nothing to do with it. Have to be got damn stupid to blame minimum wage on robots taking jobs. Blame the combo of greed and tech, if anything.
Never before in human history, have humans been faced with the confrontation that their labor is not needed in order for society to function, only their consumption. Now how do you get them to continue to consume with no money? There are going to be some major confrontations this century and I hope we are able to settle it without violence.
“An arm of Florida’s government released a radio ad that aired in L.A. and San Francisco last week criticizing the $15 minimum wage, which goes into full effect in seven years, warning of layoffs and job-stealing robots.”
You are a scum bag, you are forcing people to compete in a race to the bottom. Should force him to compete with other politicians based on state min wage compensation. This guy is all about minimum wage being the key to competition, how about he pays himself a minimum wage to make your state more competitive, you fuc!en scum bag parasite.
“My goal, one-hundred percent, is to get individuals and companies to move to Florida,” Scott said in an interview. “By raising the minimum wage in California, 700,000 people are going to lose their jobs, there are a lot of opportunities for companies to prosper in Florida and compete here and that’s what I’m going after.”
In a discussion over minimum wage and its effects:
“He [Calif Gov Brown] also sent Gov. Scott a report with research on the effect of climate change on Florida’s coastline, and urged the Governor to “stop the silly political stunts and start doing something about climate change.””
No comment needed. Tumble down into the rabbit hole complete.
And it is poetic justice that Pumps weighs in as he did between posts 30 and 33.
Pass the mushrooms.
@TheStalwart
Anyone else feel like people aren’t really talking much about how tonight could really be the de facto end of the GOP primary?
@Pete_Fineggan:
@TheStalwart Primary, heck. End of the party.
@TheStalwart
I guess I’m surprised at how Republicans are fast forwarding all the various stages of grief and rushing straight to acceptance.
cartoon character
leftwing says:
May 3, 2016 at 8:20 am
“stop the silly political stunts and start doing something about climate change.””
This quote says it all. You have the idiots on the right, using min wage to suck in people like you and then you have the idiots on the left using climate change to suck in the lefties. Lesson here, you are playing yourself.
“stop the silly political stunts and start doing something about climate change.””
leftwing says:
May 3, 2016 at 8:23 am
And it is poetic justice that Pumps weighs in as he did between posts 30 and 33.
Pass the mushrooms.
39- And not for nothing, climate change is a way more serious issue than minimum wage. If your party’s main prerogative is to focus on an issue of holding down wages, it’s completely lost. What a party, no wonder why it’s dead and has been hijacked by Trump.
Climate change is real, it might not be produced by man kind, but it’s happening and it’s real. It would make sense as a population looking to survive that we put some capital into understanding what we are dealing with, our survival might depend upon it. What kind of idiot totally ignores climate change when your life depends on the current climate?
re # 40 – ” climate change is a way more serious issue”
No over population is. 11 Billion starving mouths at the end of this century?
It’s Captain Walker. I founded him.
Plus, he who controls the the spice controls the universe.
40. “climate change is a way more serious issue than minimum wage”
OK, Gov Moonbeam.
I’m sure everyone trying to make ends meet will be comfortable in knowing the resources of the Feds are focused on preserving (prime real estate on) the shoreline of the coasts.
Kind of like how ethanol was saving the planet (cough, cough)? Forget it was political sop to start with, but it also starved a good part of Africa for a year as resources were (mis)directed to two of the lefties favorite concerns – campaign cash donations and, oh yeah, the environment.
The only person more gullible than a working class middle American supporting Trump is a liberal supporting his party’s agenda.
Interesting how Trump has turned campaign fundraising and spending upside down.
https://www.opensecrets.org/pres16/
Gourd-o/Anon in full troll mode today…
Anon probably has wet dreams over Hillary.
44- Leftwing, so based on the history of our planet, you don’t think it’s worth putting any capital and time to understand what’s happening to our climate? How many species were destroyed from climate change in the history of this world? You want to go off the cliff like a lemming with the rest of them even though you have intellectual capacity to understand it and come up with a plan if sh!t hits the fan?
No idea what world this guy is living in; clearly out of his mind.
http://www.bloomberg.com/news/articles/2016-05-03/the-blues-singer-who-created-america-s-hated-drug-pricing-model
http://www.bloomberg.com/news/articles/2016-05-03/the-blues-singer-who-created-america-s-hated-drug-pricing-model
[30] Someone asked Nathan Rothschild how he became so wealthy. He answered, “I sold early.”
Bed-wetter. That explains it.
Anon probably has wet dreams over Hillary.
Such scammers. Why don’t they just admit the price of gas and oil are some of the most rigged prices in the game. You can’t even read news articles anymore, the journalists are all bought and paid for, pushing some bs agenda. Are there any real journalists left?
“What’s influencing this slow ride to higher prices?
The federal Energy Information Administration reported there are still 540 million barrels of crude oil in storage tanks on American shores. But that’s offset by American Petroleum Institute data which said last Tuesday that there was a 1.1 million barrel decrease in those supplies last week, as reported by the Wall Street Journal.
Commodities traders would love to use that decrease to shove the price of crude oil to $50 a barrel, but all that slippery stuff in storage isn’t letting that happen easily. Last week’s rally of crude oil prices was short lived. Oil started the day on Friday at $46.32 a barrel and it slid back to $45.68 at the New York Mercantile Exchange, as reported by NASDAQ. ”
http://www.nj.com/traffic/index.ssf/2016/05/the_under_2_gas_party_is_over_how_bad_will_the_han.html#incart_river_home
You know what Detroit needs? Some stable, long-term, Democratic leadership. Anon, you get right on that…
54. lemme hold a dolla…,
Get ready for the gnashing of global teeth. Theft no longer a crime if you’re hungry.
http://www.bbc.com/news/world-europe-36190557
From 56:
“In 2015, Mr Ostriakov was convicted of theft and sentenced to six months in jail and a €100 fine.” [overturned]
Should not have appealed. For 17 euro a month he would have been fed and housed.
Its been 60 years since Detroit last elected a Republican mayor.
http://pjmedia.com/instapundit/220188/
Great stuff.
Poor Ted. Sad!
Morning Joe
@Morning_Joe
.@tedcruz crosses the street to confront @realDonaldTrump backers on the sidewalk
https://twitter.com/Morning_Joe/status/727442753689292800
Trump isn’t just beating Kasich and Cruz…he’s demoralizing them.
56,
Jean Valjean vs Javert.
Javert eventually committed suicide..
Former NYC mayor Michael Bloomberg gave the commencement address to those “precious snowflakes” at the U of Michigan.
When he brought up the issue of “Safe Spaces”, which he described as a “terrible mistake” since it runs counter to dealing with difficult situations, he was greeted with “Boos!”.
“Do not pray for easy lives. Pray to be stronger men.
[Quoting Reverend Phillips Brooks, during Remarks at Presidential Prayer Breakfast, February 7 1963]”
― John F. Kennedy
GOP’s broken (the good one),
Good luck in the belief that the DNC is actually concerned about your well-being.
[61] ray
True, but not for the reason you suggest, I seem to recall
Also, Jean Valjean repented after being confronted by the Bishop of Digne.
Tell that to the legions of business owners that need below poverty levels compensation for their workers in order to run their business. How the hell do you need someone to live in poverty to work for you? Isn’t working supposed to get you out of poverty and not put you in it? That’s how sick the labor part of the market is these days, you work and are on welfare. If that’s not a$$ backwards, I don’t know what is.
What sorry business men we have these days, can’t even create good paying jobs. I will not longer call them job creators, but job eliminators.
D-FENS says:
May 3, 2016 at 1:05 pm
“Do not pray for easy lives. Pray to be stronger men.
[Quoting Reverend Phillips Brooks, during Remarks at Presidential Prayer Breakfast, February 7 1963]”
― John F. Kennedy
66 – What do you know about living in poverty?
I know that based on the amount of food and resources we have, there is no way people should be living with hunger. I see a ton of food go to waste on a daily basis. So what’s up with the economic system, it’s clearly doing a bad job of allocating resources, when food is thrown into the garbage because someone doesn’t have the capital to purchase it.
D-FENS says:
May 3, 2016 at 1:40 pm
66 – What do you know about living in poverty?
68- There is a need/demand, but how do these individuals demonstrate that demand with no job, or a job that doesn’t even cover their rent bill?
Lovely system you have there, Fabian . . .
http://money.cnn.com/2016/04/26/news/uk-junior-doctors-hospital-strike/index.html?iid=ob_article_footer
Andrew Seidman @AndrewSeidman 31m31 minutes ago
Norcross responds: @StevenFulop recently
“traveled 2 hours to my office in South Jersey and begged for my support for Governor.” Declined.
(a very butt-hurt Fulop responded via twitter moments ago)
66. Do something that creates a return, after costs, and I will gladly pay you well. I would be a fool not to hire as many people as I could in that situation.
Come to me illiterate, late, incapable of covering your own costs – let alone common ones – and at the level of an uneducated third world citizen or machine and, yeah, I kind of think your situation is on YOU, not me.
69- Oh, that’s right, the govt will take care of it for them thanks to the job creators being unable to provide for them.
The same with the worker, oh wait, you never put yourself in those shoes. Would you work to live in poverty? That’s the question a lot are facing. It’s not only about education and how hard you work, there just aren’t enough jobs to go around. The good jobs are not increasing, and the poverty jobs are. So I ask again, would you work to live in poverty? How long can society stay stable under these conditions?
leftwing says:
May 3, 2016 at 1:48 pm
66. Do something that creates a return, after costs, and I will gladly pay you well. I would be a fool not to hire as many people as I could in that situation.
Come to me illiterate, late, incapable of covering your own costs – let alone common ones – and at the level of an uneducated third world citizen or machine and, yeah, I kind of think your situation is on YOU, not me.
The upcoming gubernatorial fight will have 3 big issues.
1- Bankrupt cities (in and soon to be) and Bankrupt Pensions & Benefits – Bail-out (Fulop, Prieto, et al) vs Camden City Police model style multi-deparment restructuring (Sweeney, Norcross & DiVicenzo??- he would win at the Essex County level, but loose a lot in Newark).
2-Revenues – Gas Tax / Estate & Inheritance Taxes / Marijuana decriminalization and its Taxes (every one has been looking at Colorado’s revenues)
3-What the h3ll to do about Atlantic City and gambling overall. AC, Meadowlands, Jersey City waterfront, Special Districts where gambling, prostitution (Bunny Ranch like), and decriminalize marijuana are allowed, but highly taxed?
D-FENS says:
May 3, 2016 at 1:48 pm
Andrew Seidman @AndrewSeidman 31m31 minutes ago
Norcross responds: @StevenFulop recently
“traveled 2 hours to my office in South Jersey and begged for my support for Governor.” Declined.
“The same with the worker, oh wait, you never put yourself in those shoes.”
Clueless, as always.
I was in their shoes. Father a machinist, plants closed all along a 500 mile rail corridor when I was in first grade in the late 60s, unemployed from his profession permanently. Mother worked in a frozen pizza factory, then ‘moved up’ to a janitor’s job at a public utility. Night shift. Demographics of my home town still in lowest quintile nationally. I worked since before I was legal (bakery, in at 3am on the weekends, under the table) and through college (and still somehow graduated with two years of tuition worth of student loans).
So FU turd.
And, btw, not one employer even at one of those sh1t assed jobs owed me or my parents anything if we could not bring something to the table for him. Let alone a ‘better’ employer having some kind of obligation to ‘provide me’ with something more.
You earn what you get. If you don’t, you don’t.
I’m clueless? It’s obvious you have your mind made up on this matter. You are the “I got mine, screw you” branch of humans. It’s sad, because you clearly came from a terrible background, but now you put down your old community. Basically telling them f u, you deserve it.
Btw, what happens to the people that put in more than they get? Oh right, they are just the suckers.
“You earn what you get. If you don’t, you don’t.”
leftwing says:
May 3, 2016 at 2:11 pm
“The same with the worker, oh wait, you never put yourself in those shoes.”
Clueless, as always.
Btw, what happens to the people that put in more than they get?
They keep getting up every day, go to work, pay their bills and support Obama cheerleaders.
No, I’m just not a Monday morning armchair liberal.
Being there I know what it takes to ‘move up’, and that some people never will. It has little to nothing to do with unearned ‘provisions’ from others which are often counterproductive. To say it a fifth time so that maybe you get it, water finds its own level.
Regarding your ‘screw you branch of humanity’ comment, again clueless, and again FU. I can quite assure you there are years I’ve donated more than you earn to a variety of causes, quietly and without fanfare or acknowledgment. Mostly to those who actually cannot change their situation. And also innumerable hours.
Doesn’t your perfect little suburban lawn in the valley of the ‘millionaires’ need some tending? Go away, clueless.
https://www.youtube.com/watch?v=08Lg3N4_gnA
Despite what you hear…or what is reported in the news…more people are living longer…and have a better standard of living throughout the world..than ever before in human history. THIS IS FACT.
http://thinkprogress.org/security/2013/12/11/3036671/2013-certainly-year-human-history/
The Great Pumpkin says:
May 3, 2016 at 1:46 pm
I know that based on the amount of food and resources we have, there is no way people should be living with hunger. I see a ton of food go to waste on a daily basis. So what’s up with the economic system, it’s clearly doing a bad job of allocating resources, when food is thrown into the garbage because someone doesn’t have the capital to purchase it.
62. He is secretly a furry. Thus the boos.
65 CMD
What do you recall me saying about Jean valjean or Javert?
http://www.trulia.com/blog/the-most-expensive-homes-in-the-us/?ecampaign=con_eyecandy&eurl=www.trulia.com%2Fblog%2Fthe-most-expensive-homes-in-the-us%2F
You totally blew off my question. Would you work to live in poverty? I don’t care what your parents did, that was a different era. They had all the opportunities that they wanted, just had to work hard. During that era, nobody that worked a job had to wait on the welfare line.
So would you work to live in poverty? Working, but still having to take a welfare check from uncle sam to put food on your kid’s plate? And don’t tell me some bs that this individual should just work harder or get an education.
leftwing says:
May 3, 2016 at 2:38 pm
No, I’m just not a Monday morning armchair liberal.
Being there I know what it takes to ‘move up’, and that some people never will. It has little to nothing to do with unearned ‘provisions’ from others which are often counterproductive. To say it a fifth time so that maybe you get it, water finds its own level.
Regarding your ‘screw you branch of humanity’ comment, again clueless, and again FU. I can quite assure you there are years I’ve donated more than you earn to a variety of causes, quietly and without fanfare or acknowledgment. Mostly to those who actually cannot change their situation. And also innumerable hours.
Doesn’t your perfect little suburban lawn in the valley of the ‘millionaires’ need some tending? Go away, clueless.
INDIANA EXIT POLL: 72% of late deciders went for Trump.
New Radiohead – Burn the Witch.
https://www.youtube.com/watch?v=yI2oS2hoL0k
“Well it’s the environment that has been excessively abused to reach these targets so I guess that’s where the concern kicks in. Do not be fooled by the Orwellian doublespeak of this article. While it paints a rosy picture of the now, it does not make mention of the looming disasters that await. Approximately 80 million new mouths are added to the table every year while at the same time arable, food growing land is diminishing. The food supplied by the worlds sea’s and ocean’s is being depleted at rates that do not allow them to be replenished sufficiently. And at the same time the Pacific ocean is being poisoned by radiation from the Fukishima PP leak in Japan. Land-grabs for farmland by wealthy corporations are underway in parts of Africa. As the resources for food, water, and the oil or gas begin to decrease open conflict will increase. We have already seen a buildup of naval forces by the Chinese, South Koreans, Philippinnes, India, and now Japan. There are mass migrations of people from poor, less-developed nations in Africa, the Middle-east, Asia, South and central America, to the U.S. and Europe. The economic strain these migrations are putting on the host countries is reaching unbearable levels. When the population rises, and the food supply decreases, and the prices for food and fuel increases, while the benefits paid to refugees and displaced persons also decreases or end, what do you think will happen? Europe has already seen a number of riots by migrants who feel they are not being treated fairly by their hosts.
This article may paint a picture of a beautiful time to be alive, but the reality is that there are dark clouds on the horizon and fast approaching.”
D-FENS says:
May 3, 2016 at 2:58 pm
Despite what you hear…or what is reported in the news…more people are living longer…and have a better standard of living throughout the world..than ever before in human history. THIS IS FACT.
http://thinkprogress.org/security/2013/12/11/3036671/2013-certainly-year-human-history/
Cruz is done. Time to burn the witch.
Sanders now winning.
Ted Cruz ending presidential campaign, reports say
Trump should nominate Cruz for SCOTUS.
ain’t seen nothing yet. Dems are going to busy with analysis paralysis as Trump waltzes in to the WH.
I can guarantee our own Gov Jelly donut is doing a dance right now.
Did Cruz just go for a strategic default? If Kasich stays in then the future GOP primaries shift from a choice between Trump and Cruz to a Trump-yes or Trump-no vote, with Kasich being the vessel for the no votes.
Scratch that – The RNC just tweeted that Trump is the guy. BTW, how oxymoronic is the phrase “The RNC just tweeted…”?
oxymoronic should have been read “off the wall ridiculous”
No – don’t scratch your head too much, it really is much more simpler than that, we are simply descendants of monkeys. Trump is the only Alpha male in the party.
[96] I know. Too bad about Davy Jones.
No – don’t scratch your head too much, it really is much more simpler than that, we are simply descendants of monkeys. Trump is the only Alpha male in the party.
Trump just said we’re going to win bigly?
[83] Ray
This:
“Raymond Reddington formerly Phoenix says: says:
May 3, 2016 at 1:02 pm
56,
Jean Valjean vs Javert.
Javert eventually committed suicide”
Trump vs Clinton.
Gah.
I’m going long ammo and scotch.
Popcorn and beer.
You heard it here first.
Kasich VP.
VP position is sit down and shut up. For Trump, it is that squared. Kasich fits it. Worth the roll of the dice for him that if Trump goes eight years he is presumptive nominee v. starting from scratch again in a crowded field 4/8 years out. Plus, most importantly, he puts Ohio swing state in R column.
Christie integral in campaign, given AG. Delivers NJ. Trump has a real opportunity at NJ and NY, which haven’t gone R in a generation at least. Dems are seriously on their heels playing to keep what should be theirs by default and they don’t even realize it yet.
Compound the above with Trump’s total lack of boundaries. He will raise cattle futures, Whitewater, Rose Law Firm, Foster, Lewinsky, Benghazi, emails, Goldman (a R candidate attacking a Clinton from the LEFT?!) and everything else a ‘proper’ R nominee would consider ‘settled’ or ‘out of bounds’ and not touch.
Hillary will look like Jeb did when Trump hit him with “what do you mean your brother kept us safe, the towers came down on his watch” during the first debate. Total awe, jaw dropping, wtf did he really just say that.
Can’t wait. Absolute theater.
[92] I think he just did. Keep your friends close and your enemies closer. The ironic thing is being the right wing constitutionalist he claims to be (even in his speech moments before), how could Cruz say no? Add that to the fact that the party hates Cruz but they would certainly like his values filling the Supreme Court vacancy, win-win. RNC helps Trump win, Trump helps RNC continue a majority in Congress, and both laugh when they lock Cruz away in an ivory tower.
Trump should nominate Cruz for SCOTUS.
[103 cont’d] And how funny a legacy for Cruz to live with, saying Trump as president is really a NY liberal who would appoint a liberal SCOTUS justice to “take their guns away.” LOL
Cue announcement of Monica Lewinsky as running mate. She has a master’s degree and business experience, after all.
[15 cont’d] and White House experience, to boot.
This just may be Obama’s finest (half) hour:
https://www.youtube.com/watch?v=hA5ezR0Kh80
Re:# 105- history rhymes and she is still angry. More like a Jennifer flowers book tour with a grudge against the media. Now we get to find out the intimate for sure.
https://www.washingtonpost.com/news/energy-environment/wp/2016/05/03/world-bank-the-way-climate-change-is-really-going-to-hurt-us-is-through-water/
Sorry down in Mexico and issues with my laptop wifi. Trying to post from my phone is frustrating.
It seems that Elizabeth Warren either has her brown fringed leather undies in a knot or she can’t hold her firewater:
http://www.dailymail.co.uk/news/article-3572898/Democratic-Senator-Elizabeth-Warren-blasts-narcissist-Donald-Trump-Twitter-warns-campaign-based-racism-sexism-xenophobia.html
It seems that Elizabeth Warren either has her brown fringed leather undies in a knot or she can’t hold her firewater:
http://www.dailymail.co.uk/news/article-3572898/Democratic-Senator-Elizabeth-Warren-blasts-narcissist-Donald-Trump-Twitter-warns-campaign-based-racism-sexism-xenophobia.html
grim – Why not just give pumps the admin credentials? What could go wrong?
Sorry down in Mexico and issues with my laptop wifi. Trying to post from my phone is frustrating.
How many American jobs are you negotiating to send to Mexico?
Grim says:
May 4, 2016 at 7:55 am
Sorry down in Mexico and issues with my laptop wifi. Trying to post from my phone is frustrating.
A few weeks ago, the Republican party was scheming up a plan to take Trump out. Now the corrupt two faced stooges will rally around him and kiss his a$$. Gotta love politics, what a joke.
BTW Pumps, how negative do you think interest rates will go before wage inflation comes along?
All I know is that the next four years will be the same suck as the last 8.
Will just have to keep tearing at that carcass
I can’t for the life of me understand why so many spiteful #nevertrump “conservative” Republicans say that they are going to vote for Hillary or some 3rd party candidate.
The SCOTUS is at stake. They have no right to call themselves conservatives if they vote for Hillary. Bunch of babies.
[117] Nom – Exactly. Presidential elections are just cheering for laundry, as Seinfeld would say. If you awoke from an 8 year coma today and took a walk around outside you would have no idea whether Obama or McCain won. The only thing you would think is that there must be some big wireless outage as people are pecking away at phones all over the place but none of them seem to be able to complete a call.
All I know is that the next four years will be the same suck as the last 8.
Will just have to keep tearing at that carcass
I just had a weird, internet “conspiracy” moment. If there are some coders out there who have experienced this and there’s an explanation, I’d like to hear it.
I track the government expatriation numbers; I’m not the only one and I usually wait until International Tax Blog calculates and graphs it. It was supposed to be released 4/30 but that was a weekend and it’s usually late over the past 7 years, especially when the list is very large.
I last looked perhaps two days ago so this morning I run my search and I find it with a date of May 2nd. Okay, so it posted after I last looked, no big deal. I see it is 14 pages, pretty large, and I close it out to see if Andrew Mitchel has put up the number. He hasn’t, and his posts are older so I figure, he’s busy, perhaps I’ll see if I can estimate it from the PDF.
I re-run my search and cannot find it. I was looking at it 20 min. before but now it doesn’t come up. So I go to the Federal Register for that date and, nothing. Search the following two days–nothing.
I was looking at the HTML version of the report, went away from it, and when I re-ran my search, it was gone.
Real head-scratcher, that. Especially since I can see no political reason right now to be playing hide-the-ball like they did in 2012.
[118] It always is, that is truly the only reason you should care who occupies the oval office. OTOH, the past couple Republican choices were closet liberals, and they all seem to turn liberal as they age, so does it really matter?
The SCOTUS is at stake. They have no right to call themselves conservatives if they vote for Hillary. Bunch of babies.
[119] expat
Oh, there will be differences. And I wasn’t joking about going long booze and bullets.
In fact, if a decent one goes on sale, I may get another AR so I can sell the ones I have once Shrillary is able to push through massive gun control legislation.
[121] expat,
I think that in the next few years, we will see more than one state governor refuse to cooperate with the Feds in some important area. Or to quote the former President He Who Must Not Be Named Any Longer, “John Marshall has made his decision; now let him enforce it!”
Nom,
The next 4 years will define this country for rest of century. Obama spent his political capital early to get Dodd Frank and Obamacare while allowing unprecedented Fed intervention to save the markets. For three years, government has sat on its hands while riding out his presidency. He now only talks about how America has improved under his reign. Job numbers, stock markets..blah. We all know that chickens are heading home and this paper mache economy is one storm away from chaos again..but the Fed is out of bullets. Real growth has to take over at some point buy it has not happened quick enough to get away from the bear trap. Either way, we are big trouble.
I was doing some research on a related matter and I came across this tidbit on a bill that the left totally has its knickers in a twist over–the Religious Freedom Restoration Act:
“The Religious Freedom Restoration Act of 1993, Pub. L. No. 103-141, 107 Stat. 1488 (November 16, 1993), codified at 42 U.S.C. § 2000bb through 42 U.S.C. § 2000bb-4 (also known as RFRA), is a 1993 United States federal law that “ensures that interests in religious freedom are protected.”[1] The bill was introduced by Congressman Chuck Schumer (D-NY) on March 11, 1993. A companion bill was introduced in the Senate by Ted Kennedy (D-MA) the same day. A unanimous U.S. House and a nearly unanimous U.S. Senate—three senators voted against passage–passed the bill, and President Bill Clinton signed it into law.”
As Stephen Buscemi pithily observed in “Con Air”, “Define irony.”
[124] bystander.
I watch the canaries in the mine, and I’m waiting for this indicator: When states start getting redder or bluer and less purple, it will be Game On. But since such migratory patterns aren’t political, what would drive them?
I see the advent of businesses flexing their muscle to lobby states in ways that they never did before as a portend. If they make good on what they are now starting to do, and pull jobs from states with policies they dislike, then, arguably, they leave a state redder (or bluer) than before if ever so slightly. And if states can counteract that by poaching businesses in the other direction, then you have traditionally red industries in red states, and traditionally blue industries in blue states, and their workers presumably reflecting those values.
Now this won’t be dramatic but how much tilt has to occur before balances shift enough? Right now, you have a Salesforce.com and a few others saying they will boycott the entire Old South, but those states are countering by luring apolitical employers from blue states, and may even try to lure the political as well. Probably not moving the needle much but what if we get to a state where it picks up steam such that a critical mass of companies employ, and presumably sell, only in regions. Then these employers are no longer a binding force nationally. At what point does a handful of states talk to each other and say “you know, we could go it alone and be better off.” Truly Game On.
Wage inflation has occurred in the skilled jobs set. My wife and I have been averaging 4 times the rate of inflation on our raises. Problem is, the legions of sh!t jobs for the bottom 70% of the population. Min wage is slowly pushing it up, but most minimum wage gains won’t show up till end of decade. So the housing market won’t be able to get going till this segment of the population gets new jobs along with raises that at least hit 2%.
I don’t see negative interest rates as a bad thing. They serve a purpose based on the problems facing our economy. Too much money concentrated at the top with the holders unwilling to risk it in the capitalistic system. So I have no problem pushing negative interest rates to force those individuals to partake in our capitalistic economy. Capitalism, if working properly, is a competition over money. Problem is, when that competition is no longer a competition due to the concentration of massive wealth in the hands of a few like we are seeing now. Only way to get that wealth back into a competitive environment where there will be a competition for that capital is through negative interest rates. It is what it is.
The Original NJ ExPat says:
May 4, 2016 at 8:28 am
BTW Pumps, how negative do you think interest rates will go before wage inflation comes along?
[120] Nom – I can’t find it either. I tried searching using other search engines and on the gpo.gov site directly. I can only find the February report. The real proof is to look in your internet history where you should be able to recover the original URL and if it’s gone with the identical URL then someone disappeared it.
[127] as per usual, you use lots of worthless words but do not answer a simple question, the answer to which is simply a number. Alternatively you could use the answer you’ve probably never used in your life: “I don’t know.”
[127] But that’s nice that your wife is getting better tips at the beauty parlor.
On your #126.
Hogwash, your thinking is clouded by ideology. Remember the first rule of the universe – entropy. Understand we went to pro-business, now we are re-balancing, just like a portfolio too into tech stocks circa 1999 should have done.
As the economy stands right now. The money is in the Blue States, and that is where the important stuff will remain.
Case in point. Knew someone working for the old Citibank Credit Card processing center in Englewood Cliff (which closed nearly 10 yrs ago and was started with NJ Tax Credit which NJ sued over not completing the agreed upon time). They told this person you keep job at a slightly lower salary if they followed Citibank to Ohio. Person chose rightly and stayed in NJ. That place in OH that it was transferred to closed up a few years ago.
Your opinion will only have a true bite, only if Trump gets in and we go full protectionist. But even then those red states will go really purple fast.
What I mean is. Full protectionist mode, causes all type of investors to start setting up factories left and right in the cheapest place to replace the imported stuff. Cheapest place will be in the south and rural/Red States. But those areas will not have the labor and more important the knowledgeable managerial population to support those factories, so people will be imported in eventually watering down the Red State purity for political economics and social point of view.
In short think of the CARY joke about the North Carolina triangle area where a lot of big northeastern businesses (TIAA CREF, etc) relocated to.
CARY – Containment Area for Relocated Yankees.
North Carolina, is also an exception in that it has gone full right wing (red state) because one of the local billionaries (think of George Norcross) has decided to spend his money to make it his plantation/3rd world banana republic. A sentiment that any resident of NJ could say about any of the political fiefdom towns . So it has been gerrymandered, manipulated, and disenfranchised the voting rights of the public to suits his needs.
[128] expat
You are a steely-eyed missile man, sir!
https://www.federalregister.gov/articles/2014/05/02/2014-10139/quarterly-publication-of-individuals-who-have-chosen-to-expatriate-as-required-by-section-6039g
Don’t understand why it wasn’t showing up in searches, including on the Federal Register site. But its out there nonetheless. I’m not a nerd so I can’t be bothered worrying about it though.
[131, 132] not me (thankfully, otherwise I’d have to kill myself for being so, well, you).
Your prediction, relying on anecdotal evidence, is no more reasoned or persuasive than mine, which isn’t even an prediction but a prediction predicated on events that may or may not happen.
I gather you are saying that the trends that I say would be destabilizing cannot happen (and you have your anecdotes to support that view). First, I don’t find anecdotal evidence persuasive when trying to predict the future. You’re quite good at predicting the past though. Second, you haven’t said why these trends can’t happen, which is the sine qua non of your position.
I invited discussion with the original post, which is a supposition on what might happen if certain other trends come to pass. Were you interested in discussion or shutting it down? BTW, you forgot to call me a rac1st. I thought that was required now.
Carolinas are OK. Green trees, strip mall, cluster of homes…repeat. Whole place is one big sprawl.
Why couldn’t plumpy have told us about canned batter yesterday? He’s almost back to even on some BS report of April 24th, 2016, the Company has been in negotiations with large manufacturing concern regarding a private label licensing agreement for Nate’s Pancake and Waffle Batter. The manufacturing group has represented that through their distribution network they will be able to sell over 2,000,000 units per month.
If I’m Plumpy…I’m out right here.
Essex. Sounds like Los Angeles, without the trees.
137. or the Beach…
Look Out Below!
http://www.marketwatch.com/story/the-next-housing-crisis-is-pending-2016-05-04#:eaQMrgwjXAl_zA
1,158 listed renunciants in what should have been a quiet quarter.
http://intltax.typepad.com/
In one sense, I sorta agreed with our resident commonwealth tax dodger that the increase was FATCA-driven although I think we would have disagreed on the extent. But FATCA has been the law for six years now and these numbers just keep going up on an annual basis. I was expecting a dropoff by now but it hasn’t happened. Rather the opposite is true.
I suppose one could argue that, like the NJ cheerleaders argue, no loss, we’ll replace them. It is analogous to when Tepper moved to Florida but the overall # of millionaires in NJ actually increased. I point out only that the raw population statistic doesn’t correlate to actual tax receipts. And if that were truly the case, and we weren’t losing wealth, why the gnashing of teeth when an especially high profile individual expatriates? (though I noticed that those teeth didn’t gnash when Diane Rich, a Clinton contributor, or Tina Turner, renounced their citizenships). Fact is, it is worrisome to the left and it should be.
Now, where is not me to tell me it’s all hogwash?
Kasich quits
NBC Nightly News
NBC Nightly News – Verified account @NBCNightlyNews
BREAKING: John Kasich to suspend his campaign for president, senior campaign adviser says – @mitchellreports
[133] Nom – No conspiracy – That’s the may 2014. I expect it’ll be out by next week.
I was really hoping that this was not going to be another year of having to vote for none of the above. I’ve lost hope.
133 CMD,
That link takes you back to 2014…..
https://www.youtube.com/watch?v=zDdbn0eTDpA
Am I the only one having a hard time following who is Captain Nom vs Not Capitan LePlume. I thought they were the same person.
As for Carolina yes Research triangle is definitely not indicative of Carolinas values in much the same way anything South of Yonkers is really a separate state from NY.
Less than a year ago…
Anon E. Moose says:
June 18, 2015 at 10:55 am
Tool [5];
Asked and answered: No one with two brain cells bouncing into one another considers Trump a serious candidate. That you see fit to treat him like one confirms your status as rube or liar.
In your face sucka
Love this guy:
(A few years ago…he relentlessly fought the town of Roxbury over a $54 window car window tint ticket…and Roxbury had to pay out $21,000)
Activist seeks property tax hikes for two Green officials in first-of-its-kind case
http://www.njherald.com/article/20160503/ARTICLE/305039976
NEWTON — In a first-of-its-kind case, a citizen activist has a hearing scheduled today on the first of two tax appeal petitions — not to lower his own taxes, but to raise the property taxes on the Green Township tax assessor’s home and on the home of the township attorney who he says fought him last year over what would have amounted to a $16 tax difference on a vacant parcel he owns.
“It’s a worthless piece of land with a stream running through it that I picked up some years ago through a tax sale after nobody else wanted it,” said Jesse Wolosky, a Sparta resident who invests in tax liens.
After getting the assessed value on the lot lowered to $8,100 a couple of years ago, Wolosky filed another tax appeal last year seeking to have the assessment lowered to $1,000, which would have left him paying taxes of about $26 annually on the lot. Two weeks later, he received a letter from Green Township Attorney Richard Stein telling him that Green Township Tax Assessor Penny Holenstein would go no lower than $1,500, which would have lowered taxes on the property to about $42.
“I took that as an insult,” said Wolosky. “I thought: Why are you coming back to me like a used-car salesman and haggling over sixteen dollars a year in taxes?”
Both Holenstein and Stein declined to respond to requests for comment on this story.
But after failing to get satisfaction in his hearing before the Sussex County Board of Taxation last June, Wolosky took his case to the Tax Court of New Jersey. Ultimately, the township agreed to lower the assessed value on the property to $900.
But it didn’t end there: At his hearing before the county tax board, Wolosky told both Holenstein and Stein that he would be back this year to seek an increase in their property assessments. The full exchange can be heard below, from an audio transcript obtained by the Herald under the Open Public Records Act.
‘I’ll see you next year’
Wolosky, on the audio transcript, is heard lamenting his inability to get satisfaction, at which point he began talking about the property assessments of the township attorney and tax assessor. “The commissioners didn’t even realize that I’d switched subjects,” he recalled.
During the hearing, he then told both of them, “Wait and see. Any person in the county can file … so I’ll see you next year on your (Holenstein’s) property and your (Stein’s) property.”
The hearing concluded with Stein saying “not unless you own it” and telling Wolosky that “I’m not going to listen to this nonsense anymore.”
Wolosky recalls turning at that point to Board of Taxation Administrator Melissa Rockwell and saying “tell him,” at which point she confirmed that a little-known provision in state law allows any property owner in the county to file a tax appeal petition regarding any other property within the same county — whether it’s their own or someone else’s.
“If I say I’m going to do it, I do it,” Wolosky said. “It just happens that I’m the first person, as a third party, to file a tax appeal petition seeking an increase on someone — and I decided to do it on the tax assessor and the township attorney.
As a result, the first of two hearings will take place today at 1:30 p.m. when Wolosky will have a chance to tell the Sussex County Board of Taxation why Holenstein deserves to pay more taxes.
Although the state keeps no data on third-party tax appeals of this type, Board of Taxation President John Fierro said he cannot recall a single case in his 12 years on the tax board of someone filing a property tax appeal aimed at raising someone else’s taxes.
Rockwell, the tax board administrator, suggested there may have been a handful of cases of a third-party lienholder filing to have the assessment on a property lowered prior to foreclosing and taking ownership, “but I can never remember a case like this,” she said.
Still, she said, the same standards will apply in this as in any other case. “Nothing else changes,” she said. “The burden of proof is still on the person who filed.”
Case may go to Tax Court
Wolosky said he has no problem with that and intends to prove that Holenstein’s property in Fredon — a 3,300-square-foot colonial on 6.3 acres located on a cul-de-sac, with a swimming pool, a barn and a backyard view of the Pocono Mountains to the west — is underassessed at $437,600.
Wolosky said he has evidence, based on sales data from four comparable pieces of property, that the assessment on Holenstein’s home should be revised upward by about $90,000, which would bring her assessment to approximately $526,575.
If he’s right, it would mean Holenstein is underpaying on her property taxes and, as a result, could see her tax bill go up by about $2,500 — from $12,178 to about $14,655, based on Fredon’s tax rate of $2.78 per $100 of assessed valuation.
Wolosky said he is willing to compromise on his effort to raise her property value assessment but that “any number they (the Board of Taxation) come back with had better begin with a five” — as in $500,000 or more.
“And if I don’t get satisfaction,” he said, “I’m going to pay the $50 fee and file with the state Tax Court.”
In fact, he believes, based on past experience, that taxpayers are better off going in front of a state judge in Morristown anyway.
But because state law requires tax appeals on properties valued at less than $1 million to go before the county tax board first, the only way to take it to state Tax Court is “you have to file and show up at the county level first. But as long as you show up at the county and challenge your appeal, you get a second bite at the apple to file with the state.”
Additionally, he notes, “towns don’t want to go before the state because then they have to bring the assessor, the town attorney, and maybe the appraiser who did the revaluation and go in front of an impartial judge in Morristown” — all of which can pose a major inconvenience.
But as to the notion that he’s doing this for frivolous reasons, Wolosky said nothing could be further from the truth. In fact, he notes, judges will routinely reprimand complainants and the towns themselves for wasting the court’s time on cases that could otherwise have been easily settled.
For this reason, Wolosky said he questions why nobody from Fredon reached out to him to settle the case involving Holenstein, as is often done on tax appeals to avoid the time and expense of a hearing.
Recalling his own case last year, Wolosky said “if you want to get a decrease, they’ll try to negotiate and nickel-and-dime you and wear you down when we’re talking about only $500 of assessed value, but here I am trying to bring more money to the township — and nobody wants to talk to me.”
Checks and balances
Wolosky suggested by filing the two cases, he is taking a stand against the establishment and a system where the deck is stacked in favor of the attorneys and public officials and against the common man or woman — an impression he says was left on him after he showed up for his first tax appeal hearing a few years ago.
“The commissioners were all in the back room eating cake and drinking coffee with the assessors and with the town attorneys and cracking jokes with each other, and then you see them all come out together — and the commissioners are supposed to judge the case objectively and not show favoritism to the assessors and the attorneys,” he said. “I think it’s rigged.”
Fierro, the tax board president, takes exception, saying that despite maintaining collegial relations with the professionals who come before the board, “we take pride in being as fair as possible to everyone and giving everyone their due. They may not always agree with our decision, but we put forth tremendous effort to give everyone their due process and to make sure when someone stands up to leave that hearing room, they at least can leave feeling like they got a fair shake.”
Other county tax boards, Fierro notes, often have hundreds of hearings scheduled on a given day. “They’ll give you three minutes, then say ‘thank you’ and make you wait a week or 10 days to get a letter in the mail telling you their decision. With us, you get to have an actual conversation and get an immediate decision and have closure.”
Wolosky is no stranger when it comes to first-of-a-kind cases: Several years ago, he became the first Sussex County resident to successfully sue a municipality under the Open Public Records Act. Since then, he has become a leading champion of open government, having filed and won more OPRA cases than nearly anyone else in the state.
As a resident of Sparta, he also was the first county resident to launch a recall petition against township officials and to use the initiative-and-referendum process under the state’s Faulkner Act to force a public vote on a municipal ordinance.
More recently, Wolosky became the first in the county to file an ethics grievance against a municipal attorney, John Ursin, for simultaneously representing a public entity and private individual in a matter where both had an interest. The state Supreme Court’s Disciplinary Review Board has since accused Ursin of defrauding the government of Sussex Borough in the matter and is expected to try the case later this year.
Wolosky said his actions aren’t based on spite but spring from a desire to demonstrate that average citizens just like him have much more power than they realize.
“They used to say about me that I’m always suing the towns and costing them money, but here I am spending my own money in order to try to bring a higher assessed value to an assessor who’s underassessed and to bring more moneWy to the township — and they won’t even talk to me about a settlement,” he said.
“A tax appeal is a mechanism to keep the checks and balances on public officials,” he said.
His advice to other citizens: “If you have a tax assessor, police officer, school superintendent, council member, or other public official who did you wrong, don’t seek revenge. Instead, do a little research to see if they’re paying their fair share of property taxes and if they’re not, help them out.”
147. ….drops mic….on foot.
“I’ll see you next year”
https://vimeo.com/165089324
Yup.
Essex says:
May 4, 2016 at 11:47 am
Carolinas are OK. Green trees, strip mall, cluster of homes…repeat. Whole place is one big sprawl.
152- Forgot about the tobacco fields too.
Hours after Donald Trump became the likely nominee, the conservative website RedState wrote that the Senate should confirm President Barack Obama’s Supreme Court nominee Merrick Garland.
The rationale is that Trump can’t win a general election against likely Democratic nominee Hillary Clinton and that Garland is the best scenario coming from a Democrat.
“Republicans must know that there is absolutely no chance that we will win the White House in 2016 now. They must also know that we are likely to lose the Senate as well. So the choices, essentially, are to confirm Garland and have another bite at the apple in a decade, or watch as President Clinton nominates someone who is radically more leftist and 10-15 years younger, and we are in no position to stop it,” Leon Wolf wrote on RedState.
Don’t agree with the article. Yes, it’s a bubble in certain locations, but it’s in no way a national bubble. It’s also not in any way close to the bubble last decade. Where were these articles during the last bubble? Now they think they will call it? That’s how you know they are wrong.
Essex says:
May 4, 2016 at 11:55 am
Look Out Below!
http://www.marketwatch.com/story/the-next-housing-crisis-is-pending-2016-05-04#:eaQMrgwjXAl_zA
This guy rules! Thanks for the share.
D-FENS says:
May 4, 2016 at 12:49 pm
Love this guy:
(A few years ago…he relentlessly fought the town of Roxbury over a $54 window car window tint ticket…and Roxbury had to pay out $21,000)
Activist seeks property tax hikes for two Green officials in first-of-its-kind case
http://www.njherald.com/article/20160503/ARTICLE/305039976
NEWTON — In a first-of-its-kind case, a citizen activist has a hearing scheduled today on the first of two tax appeal petitions — not to lower his own taxes, but to raise the property taxes on the Green Township tax assessor’s home and on the home of the township attorney who he says fought him last year over what would have amounted to a $16 tax difference on a vacant parcel he owns.
“It’s a worthless piece of land with a stream running through it that I picked up some years ago through a tax sale after nobody else wanted it,” said Jesse Wolosky, a Sparta resident who invests in tax liens.
Too funny!
Pete says:
May 4, 2016 at 12:42 pm
Less than a year ago…
Anon E. Moose says:
June 18, 2015 at 10:55 am
Tool [5];
Asked and answered: No one with two brain cells bouncing into one another considers Trump a serious candidate. That you see fit to treat him like one confirms your status as rube or liar.
Guess every state has their Norcross. Nice write-up.
Not Capitan LePlume says:
May 4, 2016 at 11:05 am
In short think of the CARY joke about the North Carolina triangle area where a lot of big northeastern businesses (TIAA CREF, etc) relocated to.
CARY – Containment Area for Relocated Yankees.
North Carolina, is also an exception in that it has gone full right wing (red state) because one of the local billionaries (think of George Norcross) has decided to spend his money to make it his plantation/3rd world banana republic. A sentiment that any resident of NJ could say about any of the political fiefdom towns . So it has been gerrymandered, manipulated, and disenfranchised the voting rights of the public to suits his needs.
I don’t know. Are you happy?
I honestly don’t think it will happen here. We are not in the same predicament as these smaller economies.
The Original NJ ExPat says:
May 4, 2016 at 10:05 am
[127] as per usual, you use lots of worthless words but do not answer a simple question, the answer to which is simply a number. Alternatively you could use the answer you’ve probably never used in your life: “I don’t know.”
2014. Ha. Interesting since I ran a search for 2016 and that came up. Also Mitchel posted the number so it’s out.
Sorry for lack of attention to detail but it’s already been a long day, and I’m hoping it doesn’t get longer or worse.
Re: [147];
I still don’t think he’s a serious candidate. If I were a leftist, I might try to dispute the reality that he is now the presumptive nominee — that’s the leftist playbook: deny reality until real people go home.
BTW, Pete/Anon/Pumpkin – you having trouble keeping your socks straight this morning?
Just wish to say your article is as astounding. Hi you should try posting your ad on topdollarclassifieds.ca its free to post and it is now the fastest growing classifieds in North America.With local posting areas in your town and city’s in over 23 country’s in North America. We get on average about 1 million people a month coming to our site and more check us out at http://topdollarclassifieds.ca
127 Pumpkin you could not be more dead wrong, the inequality thing is solely on the basis of low/low interest rates. The incredibly wealthy not only have buckets of cash but usually even more so hard assets and the ability to use leverage to juice returns. What super low interest rates have done is blown a big bubble of inflated asset values, allowed unabated purchasing of assets with borrowed money and the wealthy are dominating any and all asset classes. Super low rates are a scourge on the lower and middle classes, they are unlikely to own much do not own cashflow streams and lack the ability to use leverage, they depend on the dollar to have value. Also the issues around insurance are exacerbated by low rates, as are govt entitlement programs, pensions, and taxes. The rates are hurting people and just because they can borrow themselves into insolvency at a low rate doesn’t mean it’s a good thing.
Lawrence Welk (clot Edition):
https://www.youtube.com/watch?v=YKNt_qq6N7o
Comrade Nom Deplume. Citizen, 2nd Class. says:
May 4, 2016 at 8:31 am
All I know is that the next four years will be the same suck as the last 16
Image of Virgin of Guadalupe (jj Edition):
Oh God.
Indonesian villagers found a sex doll on a remote beach — and somehow mistook it for an angel.
Even the local news organization, Pojok Satu, was taken in by the inflatable deceiver, according to The Telegraph.
“This angel child also was found face down, crying and naked covered only a white cloth,” Pojok Satu wrote of the doll.
A fisherman found the sex toy in April and hauled it home to his house in Kalupapi, where villagers changed its clothes and gave it a new hijab every day.
Rumors spread that the so-called angel was found in tears, and eventually the police got wind of the rumors and quickly dashed the villagers’ dreams of a divine discovery.
“It was checked by one of our team,” local police chief Heru Pramukarno said.
“It was a sex toy.”
The find came just weeks after a solar eclipse, which seemed an auspicious time for angel-finding. Apparently, it was an even more auspicious time for sex toy-finding.
“They have no internet, they don’t know what a sex toy is,” Pramukarno explained, according to the BBC.
Jcer, I agree with all you say below, but I think you misread the post. I was referring to negative interest rates not zero interest rates. Negative interest rates will force these people to risk aka invest their money in actual business activity. They will be losing money by holding onto it, so they are forced to put the capital back into the capitalist system and have the participants compete over it, like it was always supposed to be.
When people get to levels of wealth concentration that you see today, make no mistake about it, they are hoarding (don’t listen to joyce or others on here that say there is no such thing as hoarding). That’s why you see stagnation in the economy or worse deflationary pressure.
Close to 70% of the population basically saves nothing and spends every dime, a smaller part of that population is in perpetual debt. If these economic participants can’t borrow more money, they can’t signal to the economy that they demand a product (they have no more capital to signal for what they demand). Without demand, the economy can’t grow, it cuts back. This is why a crap load of that money concentrated at the top in a few hands, needs to be dumped into the bottom 50% of the population through job creation, raises, and/or tax cuts. Only then, will we see real growth.
Concentration of money in a few hands is always glaring signal that a capitalist based economy is sick and close to self destruction.
jcer says:
May 4, 2016 at 3:20 pm
127 Pumpkin you could not be more dead wrong, the inequality thing is solely on the basis of low/low interest rates. The incredibly wealthy not only have buckets of cash but usually even more so hard assets and the ability to use leverage to juice returns. What super low interest rates have done is blown a big bubble of inflated asset values, allowed unabated purchasing of assets with borrowed money and the wealthy are dominating any and all asset classes. Super low rates are a scourge on the lower and middle classes, they are unlikely to own much do not own cashflow streams and lack the ability to use leverage, they depend on the dollar to have value. Also the issues around insurance are exacerbated by low rates, as are govt entitlement programs, pensions, and taxes. The rates are hurting people and just because they can borrow themselves into insolvency at a low rate doesn’t mean it’s a good thing.
167- Can’t make it any easier than this explanation from investopedia.
BREAKING DOWN ‘Negative Interest Rate Policy (NIRP)’
During deflationary periods, people and businesses hoard money instead of spending and investing. The result is a collapse in aggregate demand which leads to prices falling even farther, a slowdown or halt in real production and output, and an increase in unemployment. A loose or expansionary monetary policy is usually employed to deal with such economic stagnation. However, if deflationary forces are strong enough, simply cutting the central bank’s interest rate to zero may not be sufficient to stimulate borrowing and lending. (See also: How Interest Rates Can Go Negative.)
A negative interest rate means the central bank and perhaps private banks will charge negative interest: instead of receiving money on deposits, depositors must pay regularly to keep their money with the bank. This is intended to incentivize banks to lend money more freely and businesses and individuals to invest, lend, and spend money rather than pay a fee to keep it safe.
Examples
An example of a negative interest rate policy would be to set the key rate at – 0.2%, such that bank depositors would have to pay two-tenths of a percent on their deposits instead of receiving any sort of positive interest.
The Swiss government ran a de facto negative interest rate regime in the early 1970s to counter its currency appreciation due to investors fleeing inflation in other parts of the world.
In 2009 and 2010 Sweden and in 2012 Denmark used negative interest rates to stem hot money flows into their economies.
In 2014 the European Central Bank (ECB) instituted a negative interest rate that only applied to bank deposits intended to prevent the Eurozone from falling into a deflationary spiral.
Theoretically, targeting interest rates below zero will reduce the costs to borrow for companies and households, driving demand for loans and incentivizing investment and consumer spending. Retail banks may choose to internalize the costs associated with negative interest rates by paying them, which will negatively impact profits, rather than passing the costs to small depositors for fear that otherwise they will move their deposits into cash. (For more, see: Negative Interest Rates and QE: 3 Economic Risks.)
Read more: Negative Interest Rate Policy (NIRP) Definition | Investopedia http://www.investopedia.com/terms/n/negative-interest-rate-policy-nirp.asp#ixzz47j2oqrcg
Follow us: Investopedia on Facebook
168- No such thing as hoarding, right?
“During deflationary periods, people and businesses hoard money instead of spending and investing. “
Blumpkin’s senior thesis:
My findings on past ecomonic theories and their applications in the new post manufacturing society can be summed up in article I found by a man much smarter than myself:
[paste 20,000 word article]
I agree. The end.
It has come to this. . . .
“The seminar will test the limits of the current legal paradigm for eradicating discrimination by presenting original voices on issues of implicit bias, racial anxiety, microaggression, and reimagining diversity.
• Hear directly from sought-after speakers who are transforming the national debate about diversity:
– Dr. John Fitzgerald Gates is Principal and Chief Strategist, Criticality Management Consulting
– Rachel D. Godsil is Eleanor Bontecou Professor of Law at Seton Hall University Law School
– Michele Meyer-Shipp, Esq. is VP & Chief Diversity Officer at Prudential Financial
• Collect tips on the latest best practices to deter workplace discrimination
• Challenge your assumptions about what drives discriminatory outcomes
• Learn about new proof of unconscious and implicit bias before being confronted with that evidence in litigation
• Reexamine outdated HR and EEO concepts to avoid being left behind … and caught off guard”
[from a CLE advert in my inbox today]
170- Not going to lie, pretty funny.
Van Jones’ unexpected warning to Dems about Trump and the black vote [VIDEO]
By Ryan Girdusky | May 2, 2016 | Comments
Read more at http://redalertpolitics.com/2016/05/02/van-jones-unexpected-warning-dems-trump-black-vote-video/#6W2YbLPJigGfSOX1.99
“Just like FDR changed the rules of the game because he mastered radio, he was able to take radio and just completely master that — then you had JFK and JFK was able to master television — new medium, new master, new president,” Jones said.
“The same thing is happening with Trump,” he continued. “It’s a new media era, the era of social media, especially Twitter and reality television.”
He continued to detail how Trump has been able to use his celebrity to appeal to parts of the Democratic base, especially black voters.
“70 percent of African Americans have a horrible view of Donald Trump,” Jones continued. “In order for the Democrats to win the White House they don’t have to get 50 percent of the black vote or 60, or 70, or 80, or 90, Democrats in order to win historically need 90 to 92 percent of the black vote.”
“If only 70 percent don’t like Donald Trump, that means 30 percent are open to his argument, if he gets half of those, he’s president,” Jones said.
#127 its interesting how pumps is always going on about income inequality and yet he doesn’t want low income people living in his neighborhood. Liberal hypocrite. Just saying.
http://www.wsj.com/articles/brewery-builds-a-pipeline-sending-beer-lovers-into-a-froth-1462371340
You are right. It is what it is.
3b says:
May 4, 2016 at 9:01 pm
#127 its interesting how pumps is always going on about income inequality and yet he doesn’t want low income people living in his neighborhood. Liberal hypocrite. Just saying.