From NJBIZ:
Bankers: Economy weakening under Murphy
A majority of the state’s local bankers say New Jersey’s economy would worsen under policies proposed by Gov. Phil Murphy.
In New Jersey Bankers Association’s annual survey on the economy, almost 69 percent of respondents expect the state economy to weaken or decline if proposals are enacted such as a “millionaires tax” and raising the sales tax back to 7 percent.
NJBA surveyed bankers from 92 local banks in its membership. The survey was conducted with Rutgers University’s Bloustein School of Planning and Public Policy.
Despite the negative view of the Murphy administration, a majority of the bankers said the state’s economy is currently strong. Nearly 42 percent of respondents rated the state’s current economy as “good,” compared to just 15 percent in 2016. A record 10 percent of respondents rated the state’s economy as “excellent.”
Some 75 percent of the respondents saw the U.S. economy improving under the policies of President Trump, almost as many said those same policies will hurt New Jersey’s economy – most notably this year’s federal tax reforms that limit property-tax deductions.
We all know how well the banking industry handled their part of the economy after the government unlocked the handcuffs put on them after the Great Depression in the late 90s.
Fun fact: the leader of the Nxvium cult, who was branding his sex slaves with his initials, is also a huge Ayn Rand fan. Clearly she’s the preferred “writer” of sociopaths.
“Atlas Shrugged” is an amazing read. I’m 400 pages into the book. Rand illustrates how collectivism’s idea of placing the needs of their neighbors above their own rational, self-interest results in chaos and evil. Incentive is destroyed and corruption becomes inevitable. It’s a snapshot of today’s progressive left.
LOLOLOL…
Why is it that nobody says they voted for this guy, yet here you are?
If it wasn’t obvious during the election, it is now to everyone. Phil Murphy has no clue what he is doing, he is ill-equipped to be the governor, he has neither the managerial skills, nor the knowledge of how government finances work, nor the political experience and skill to navigate politics in NJ. NJ is a state in tenuous position, with a toxic political environment, an over taxed populous, and a slow growing private sector economy. Murphy has no political experience at the local, state, or federal level and it shows. His agenda of spending with no ability to generate new revenue or concern about said deficits have anyone concerned with government finances concerned. NJ is competing for people with NY and PA(maybe CT), as such our income tax needs to be in line with their tax rates.
Progressives will never admit this but funding the government of the backs of the majority is the only way to raise revenue, compressing the lower end of the brackets so from 0-10k is 0% and then jumping to 4% for the majority of wage earners in NJ(again mirrors NY and to some extent PA’s flat rate) would generate more revenue than a millionaires tax and would raise income tax on practically everyone.
Ottomon, Raniere might be a Rand reader but I believe he supported democrats including Hillary among others.
Is NJ really the highest taxed state?
“So the next time you hear someone say New Jersey is the most overtaxed state in the nation, look past the rhetoric and consider the real numbers behind the statement.”
https://www.njpp.org/media/editorials/n-j-does-not-have-the-highest-taxes-in-the-u-s
Is NJ really the highest taxed state?
“So the next time you hear someone say New Jersey is the most overtaxed state in the nation, look past the rhetoric and consider the real numbers behind the statement.”
https://www.njpp.org/media/editorials/n-j-does-not-have-the-highest-taxes-in-the-u-s
What’s abundantly clear, however you slice the data, is that New Jersey ranks among the top one or two states in the nation when it comes to property taxes, which are the only real source of revenue for local government in the Garden State.
Top one or two? Which one is it?
“Right now, there’s no question: It’s feeling strong. I mean, if we’re in the sixth inning, we have our sluggers coming to bat right now,” Warren Buffett said in the “Squawk Box” the interview that aired Thursday.
Dimon — who has been J.P. Morgan CEO since 2005 — echoed Buffett’s positive comments on economic growth, saying that the current uptrend in business could last years.
“The way I look at it, there is nothing that is a real pothole,” he said. “Business sentiment is almost at the highest level it’s ever been, consumer sentiment is at its highest levels, markets are wide open, housing’s in short supply and my guess is mortgage credit will expand a little bit.”
Thank you, President Trump!
The U.S. had more job openings this spring than unemployed Americans.
For the first time since such record-keeping began in 2000, the number of available positions exceeded the number of job seekers, the Labor Department said Tuesday, a shift that is rippling across the economy and affecting the behavior of employers and workers.
Any questions?
Pumkin you are wrong.
Shortage of men/Excess of women gets you baby daddies, you see this in inner cites and in Russia.
Excess of men/Shortage of women gets you excess chivalry/gentlemen courting behavior.
Excess of men is bad for any authority in power, so they try to kill them off in war, and acquire women/kill off men in the conquered lands. That is a very very big reason that China will start something in the future.
tariffs.
The Great Pumpkin says:
June 6, 2018 at 6:23 pm
Family builds the foundation of society. They are going to be in trouble in due time.
Not good to have a bunch of lonely men in your society. They become unmotivated with life.
If they do go the route of multiple baby daddy’s, just look at the impact this has had on the African American community. It has been responsible for holding that community back.
Democrat slogan for the midterms : “A Strong Economy is an Oppressive Economy. Make America Weak Again!”
Add in short dicks and its a recipe for disaster.
Excess of men is bad for any authority in power, so they try to kill them off in war, and acquire women/kill off men in the conquered lands. That is a very very big reason that China will start something in the future.
“Down with white straight patriarchy” is the call of the young left.
More democrat slogan for midterms: Make welfare great again! Democrats 2018!
Blue,
I’ve posted that article on here before. Of course it goes in one year and out the other. Nj is ranked usually 1 or 2 when it comes to property taxes (one of the few states that basically gets most of its funding from property taxes and income taxes). It is not the most taxed state. Read the article for a clue on why, or ignore it, and hold tight to your partisan position.
The article does a great job of pointing out what happens when you take incomes into account….comparison of income earned and taxes paid, nj does a pretty damn good job, but we will just ignore that because we like to think we are the highest taxed state in America. Keep telling yourself that lie, it will only make you miserable.
Open up your eyes instead and understand that nj is printing millionaires over the last decade. How can it be printing millionaires faster than almost every state if taxes are so damn oppressive? How can one amass so much wealth so quickly if their state’s tax system is oppressive? Doesn’t add up and you should be asking why instead of complaining that nj is the highest taxed state in the nation.
I understand that a shortage of men would result in this. I was simply addressing juice. He took the position that the women of China will not settle with one man as a solution to their long term demographic time bomb.
I agree with your position that China will have to do something sooner rather than later.
Dangerous for the rest of the world to have the highest populated country in the world made up of mostly men. They will want war. ESP with their growing appetite for power and wealth.
Not PumpkinVomit says:
June 7, 2018 at 10:42 am
Pumkin you are wrong.
Shortage of men/Excess of women gets you baby daddies, you see this in inner cites and in Russia.
Excess of men/Shortage of women gets you excess chivalry/gentlemen courting behavior.
Excess of men is bad for any authority in power, so they try to kill them off in war, and acquire women/kill off men in the conquered lands. That is a very very big reason that China will start something in the future.
tariffs.
Smartphone impacts
https://youtu.be/zC21TcRQzKs?t=3m47s
re: “the number of available positions exceeded the number of job seekers”
Now go out and get an offer then ask your current employer for a retention bonus AKA raise or whatever else you desire that is doable (work from home occasionally etc).
I got both this year a 12% raise and a day working from home every week.
You should pay $8 for a slice of pizza – relative to your income it’s a good deal.
The Great Pumpkin says:
June 7, 2018 at 11:01 am
Blue,
I’ve posted that article on here before. Of course it goes in one year and out the other. Nj is ranked usually 1 or 2 when it comes to property taxes
Pumps – “women of China will not settle with one man”
They already aren’t marriage rate is dropping like a rock.
BTW – your comments are wacist and uninformed, the white people in the USA have kids out of wedlock too. There are more babies born out of wedlock to non-hispanic whites every year in the USA than any other race.
Juice, how about by rate? White people are the majority at least for a little while longer so there are more non-hispanic whites for probably every statistic what is the rate among birth age populations by each demographic. I’m sure the most common denominator is income but it stands to reason that Whites and Asians are wealthier than the minority groups and therefore per capita would have fewer births out of wedlock.
Juice, how about by rate? White people are the majority at least for a little while longer so there are more non-hispanic whites for probably every statistic what is the rate among birth age populations by each demographic. I’m sure the most common denominator is income but it stands to reason that Whites and Asians are wealthier than the minority groups and therefore per capita would have fewer births out of wedlock. Just my thoughts.
re: “how about by rate”
Which still makes no difference to the millions of bastards born every year as to what color or heritage they have. There are way too many…
And speaking of culture, they abort and drown them by the container ship load in China, even short dicks still get them knocked up.
https://www.npr.org/2016/02/01/465124337/how-chinas-one-child-policy-led-to-forced-abortions-30-million-bachelors
Racist? If you say so. Can’t say anything honestly without being called a racist these days.
If what you say is true, it’s the beginning of the end for this cycle of society. Having kids out of wedlock, aka no family nucleus, will be a disaster for human society. Not having two parents raising a child will be a knockout punch for society if that becomes the norm.
I know this white girl that is 30 years old, and just announced that she is having her 3rd child out of wedlock. No father figure and the idiot gets knocked up again. Sickening that she would do this to her kids. Her oldest kid is currently in kindergarten. Kid is behind already, and probably going to be classified as special ed. Writing is on the wall.
Juice Box says:
June 7, 2018 at 11:31 am
Pumps – “women of China will not settle with one man”
They already aren’t marriage rate is dropping like a rock.
BTW – your comments are wacist and uninformed, the white people in the USA have kids out of wedlock too. There are more babies born out of wedlock to non-hispanic whites every year in the USA than any other race.
I’ve posted that article on here before. Of course it goes in one year and out the other. Nj is ranked usually 1 or 2 when it comes to property taxes (one of the few states that basically gets most of its funding from property taxes and income taxes). It is not the most taxed state. Read the article for a clue on why, or ignore it, and hold tight to your partisan position.
First off, it’s in one EAR and out the other. If you are going to try to insult someone’s intelligence, do it properly. Second, I did read the article. They gave exact places for every single tax, except for property taxes where they said, New Jersey is either first or second. Which one is it? First or second? Why can’t they state which one? Third, you can try to throw around percentage metrics all you want. It’s a silly argument. Telling me I pay a lower percentage of my income than someone in Maryland is of little consolation when I’m mailing out 11k on a yearly basis. Taxes are too high in this state. And just because they are too high in 10 other states as well doesn’t help.
NJ isn’t printing millionaires. In fact, it’s going to be driving a large portion of the state into instant bankruptcy once they default on their pension obligations.
Bad comparison.
The taxes are used to support the economy. They are not held by the govt, they are immediately put back into the economy to help that economy function. If these taxes are being used to maintain this economy and grow it, why would complain about this cost if it allows you to make much more money in comparison to other state economies? Wouldn’t you want to support and maintain this relationship?
Instead people like you cry about it, move to a low tax location and realize opportunities are not there except for the connected locals.
PumpkinFace says:
June 7, 2018 at 11:28 am
You should pay $8 for a slice of pizza – relative to your income it’s a good deal.
Blue,
Really, it was a typo. I think I know the difference between ear and year.
Really? The “y” key is no where near any of those other keys. Kinda like you know the difference between “god damned” and “got damn”.
I thought there was no difference between public and private. It’s all one system!! spending drives everything dammit, so get out there and spend 3 times the cost for pizza – it will help spur economic activity. Relative to incomes in this area, we can afford it everything will be fine.
The Great Pumpkin says:
June 7, 2018 at 12:05 pm
Bad comparison.
Its almost like Murphy is hinged on rec weed. If/when that fails, so will his slim chances at turning thing around. I’m regretting my vote by the day. You’d think his first course of action would find ways to generate revenue BEFORE spending money.
Isn’t Murphy a banker? I guess he wasn’t a very good one.
Any Tesla shareholders on the board? You may want to read this
https://www.theatlantic.com/science/archive/2018/06/its-possible-to-reverse-climate-change-suggests-major-new-study/562289/
Why one should not read and definitely should not trust lobbyist news.
Check out this line from the article, “For example, the Tax Foundation charges back to New Jersey the $2.6 billion in income taxes paid to New York by New Jersey residents who work in New York and must abide by New York tax laws, over which New Jersey has no control.”
But it’s still part of the tax equation, so it can’t be ignored! Who controls it makes ABSOLUTELY NO DIFFERENCE when calculating which state has the highest tax burden.
As usual, Pumps swallows the progressive Kool-Ade. READ and THINK about what you are reading for a change.
And the real truth of the story is, if NJ is cranking out uber-educated kids from their uber-schools. Then why is the economic engine here such a piece of sh1t. Why are we collecting so little corporate taxes if we are the brains of the nation? Seventh or eighth place is not a number to be proud of when you live in a utopia!
Let me drop this here for Pumps.
https://americansforprosperity.org/policy-solutions-need-tax-spend-reforms-for-nj/
I don’t know how. It was probably autocorrect. I type on my phone. I think I know the saying, “In one ear and out the other.”
Blue Ribbon Teacher says:
June 7, 2018 at 12:25 pm
Really? The “y” key is no where near any of those other keys. Kinda like you know the difference between “god damned” and “got damn”.
TABOR in Colorado is interesting.
Yes, you get it! It’s all one economic system. You are also correct, if we all went out and started spending more money on everything, economic growth would reflect it.
PumpkinFace says:
June 7, 2018 at 12:32 pm
I thought there was no difference between public and private. It’s all one system!! spending drives everything dammit, so get out there and spend 3 times the cost for pizza – it will help spur economic activity. Relative to incomes in this area, we can afford it everything will be fine.
No it’s not, when you are comparing state to state taxes. Does nj collect that, so why should it be used in a state to state comparison. That money goes to NY state.
“Check out this line from the article, “For example, the Tax Foundation charges back to New Jersey the $2.6 billion in income taxes paid to New York by New Jersey residents who work in New York and must abide by New York tax laws, over which New Jersey has no control.”
But it’s still part of the tax equation, so it can’t be ignored! Who controls it makes ABSOLUTELY NO DIFFERENCE when calculating which state has the highest tax burden”
Murphy was one of them.
Ottoman says:
June 7, 2018 at 7:17 am
We all know how well the banking industry handled their part of the economy after the government unlocked the handcuffs put on them after the Great Depression in the late 90s.
re: “You may want to read this”
“Finally, the carbon dioxide is combined with hydrogen” to make gasoline.
Yeah that does not sound cheap at any scale.
https://www.nature.com/articles/ncomms15174
Pumps. Am I taxed that $2.6 billion? Yes or No? It is PART of my tax burden! To leave it out is deceptive and a flat out lie. You are an obstinate fool who ignores facts. Back on ignore you ignoramus.
I’m glad we agree that it’s impossible to overpay for something.
The Great Pumpkin says:
June 7, 2018 at 1:22 pm
Yes, you get it! It’s all one economic system. You are also correct, if we all went out and started spending more money on everything, economic growth would reflect it.
This one is for Chi.
“One in three Americans say their financial stability is dependent on receiving an inheritance”
Some 36% of Generation X-ers and 32% of millennials and 20% of baby boomers say they’re relying on their family fortunes.
For Generation Z, which is aged 18 to 22, this number jumps to 63%, despite 87% describing their approach to financial decisions as “do-it-myself.” Planning ahead is smart, but relying on money that may never materialize is not, said Aron Levine, head of Merrill Edge. “We’ve never seen such a strong reliance on receiving an inheritance,” he said.
https://www.marketwatch.com/story/millions-of-americans-are-relying-on-family-money-to-be-financially-independent-2018-06-07
I’m the youngest of seven. I’ll be happy if I don’t inherit debt.
How about ass and hole in the ground?
Really, it was a typo. I think I know the difference between ear and year.
@FoxNewsResearch
E)xpensive (P)ruitt (A)gency:
Condo Deal: $50/night
12 Pens: $1,560
Journals: $1,670
Trump Hotel Mattress: $1,750
Private 40-min flight: $5,719
PR: $6,500
Chik fil A Franchise: $10K
Phone Booth: $43K
2 Desks: $70K
Friends’ Pay Raises: $85K
Italy Trip: $120K
Security: $3.5M
@StephenKing
See? Trump promised to drain the swamp, and this is how he’s doing it.
Pigs at the trough, oink-oink-oink
Very Stable Genius says:
June 7, 2018 at 3:00 pm
@FoxNewsResearch
E)xpensive (P)ruitt (A)gency:
Condo Deal: $50/night
12 Pens: $1,560
Journals: $1,670
Trump Hotel Mattress: $1,750
Private 40-min flight: $5,719
PR: $6,500
Chik fil A Franchise: $10K
Phone Booth: $43K
2 Desks: $70K
Friends’ Pay Raises: $85K
Italy Trip: $120K
Security: $3.5M
In theory, there is no such thing as overpaying. Is value constant?
There is no set value for anything. Everything is based off the value we created in our heads. There is no science to pricing. When someone claims they underpaid or overpaid, they simply performed a transaction with someone they feel they benefited or lost.
If “overpaying” in the means you use it were true, it would mean a value is constant and you simply gave more out of the goodness of your heart.
PumpkinFace says:
June 7, 2018 at 1:37 pm
I’m glad we agree that it’s impossible to overpay for something.
Again, does the state of nj collect that tax? So why should it be included in a state by state analys of tax burdens? Did nj force you to go work in new York and pay that tax?
Libturd questioning the gender of Hillary’s Cankle fluid. says:
June 7, 2018 at 1:32 pm
Pumps. Am I taxed that $2.6 billion? Yes or No? It is PART of my tax burden! To leave it out is deceptive and a flat out lie. You are an obstinate fool who ignores facts. Back on ignore you ignoramus.
I’m sure nj wishes they could have that 3 billion dollar revenue since their citizens are paying it. Go take that up with NY. Ask them why they are feeding off jersey?
Here’s the truth about nj.
The rich get away with murder through our tax system. What’s the biggest tax? Property taxes.
Now follow me, who pays the highest property tax rates? On top of this, you have really wealthy people escaping this by setting up their property as a farm. They pay almost nothing.
That’s why it’s time to change how this state collects tax revenue. Get rid of property taxes and instead tax all income at a certain percentage(progressively) and the rest taxed at the consumption level.
Why are we so hell bent on paying through property taxes? Anyone have a clue? It truly baffles me.
Are these words really coming out of your mouth?
The Great Pumpkin says:
June 7, 2018 at 3:08 pm
In theory, there is no such thing as overpaying. Is value constant?
There is no set value for anything. Everything is based off the value we created in our heads. There is no science to pricing. When someone claims they underpaid or overpaid, they simply performed a transaction with someone they feel they benefited or lost.
If “overpaying” in the means you use it were true, it would mean a value is constant and you simply gave more out of the goodness of your heart.
PumpkinFace says:
June 7, 2018 at 1:37 pm
I’m glad we agree that it’s impossible to overpay for something.
You’re so dumb.
Moana,
For a minute there, I thought that was a list of Menendez’ undisclosed gifts.
Those numbers are tiny compared to how much everyone was paying HER to speak until it couldn’t buy favor anymore.
Glad you came around to believing your sewer repair was fairly priced.
In theory, there is no such thing as overpaying.
nice
D-FENS says:
June 7, 2018 at 1:04 pm
Any Tesla shareholders on the board? You may want to read this
https://www.theatlantic.com/science/archive/2018/06/its-possible-to-reverse-climate-change-suggests-major-new-study/562289/
Pumpkin, check history of NJ Income Tax. The income tax was designed in the 70’s to do exactly that, alleviate the property tax and create a progressive income tax. Only problem, it resulted in continued income tax rate increases over time, and the property tax, designed to reduce school property tax burdens was “usurped” by the Burke v Abbott decision that funneled the vast amount of income taxes collected to the 30 Abbott districts.
He’ll never do that. That being educate himself on a given topic. He’d rather just continue to spout off at the mouth in an ignorant fashion.
1987 Condo says:
June 7, 2018 at 4:52 pm
Pumpkin, check history of …
Blue,
Really, it was a typo. I think I know the difference between ear and year.
Yeah, but only you could accuse me of not reading an article after I read it, quoted it in a post, and asked a question in reference to that quote.
When it all crumbles, i’ll Be watching.
Backstory: The future, Earth is ruled by Eternals, an advanced and secret sect of beings who reign over a savage group called Brutals. The Eternals have created a god named Zardoz to intimidate the Brutals, making them believe that killing is their natural state. However, Zed (Sean Connery), a Brutal warrior, challenges that assumption when he enters the Zardoz monument and is captured by an Eternal (Charlotte Rampling). There, he learns the truth about the Eternals and the false god that rules society.
Home flips sold to FHA buyers falls to 10-year low – Curbed
https://apple.news/A3_rytlLgR3mfLTDMSXgyZQ
Seems like even the state democrats hate Murphy now. The fireworks are plenty entertaining.
Au revoir Paris
We already did that. Then they raised our property taxes anyway.
The Great Pumpkin says:
June 7, 2018 at 3:34 pm
Here’s the truth about nj.
The rich get away with murder through our tax system. What’s the biggest tax? Property taxes.
Now follow me, who pays the highest property tax rates? On top of this, you have really wealthy people escaping this by setting up their property as a farm. They pay almost nothing.
That’s why it’s time to change how this state collects tax revenue. Get rid of property taxes and instead tax all income at a certain percentage(progressively) and the rest taxed at the consumption level.
There has to be a reason for the increased need in revenue. You point out some of the reasons, but I have to think there are other reasons. For example, the costs in this area have risen significantly from the farm days of 1970 and earlier. Does anyone take that into account? Of course not, just cry corruption.
Another example, the impact of isolating minorities and leaving them behind in these cities to live off the govt. If we would have done something for these people instead of leaving them in conditions of deterioration, we wouldn’t have Abbott or these people living off welfare. Instead, they would be contributing instead of taking from tax revenue.
I’m just throwing out ideas because I don’t believe corruption is solely responsible for the higher budget needed to run this state today from 1970.
1987 Condo says:
June 7, 2018 at 4:52 pm
Pumpkin, check history of NJ Income Tax. The income tax was designed in the 70’s to do exactly that, alleviate the property tax and create a progressive income tax. Only problem, it resulted in continued income tax rate increases over time, and the property tax, designed to reduce school property tax burdens was “usurped” by the Burke v Abbott decision that funneled the vast amount of income taxes collected to the 30 Abbott districts.
Want to lower the amount of people on welfare, provide these people with an opportunity for a job and have this job tied to their child’s education. Real simple cure. That’s how you save tax money long term, but will the job creators provide jobs for everyone? Nope! Broken system.
They don’t want to pay taxes, don’t want to provide jobs for everyone that wants one. Instead they focus on maximizing individual profit and then cry about the long term costs of having to take care of people that they didn’t provide a job to because they wanted to maximize profit.
Anthony Bordain Dead at 61
Never quite understood the allure of Anthony Bourdain but he seemed like a good guy in the food industry.
Another example, the impact of isolating minorities and leaving them behind in these cities to live off the govt
You mean like preventing motivated kids from Patterson from attending your school district?
It is not “corruption” per se but human nature. Prior to income tax, NJ state legislators met infrequently, not a lot to do, limited funds, and they all stayed in their own homes so difficult to contact.
Once the income tax money came in decisions needed to be made, lobbyists, err.. “advisors” followed and set up shop on West street now that legislators were around for breakfast, lunch and dinner.
Many good causes needed to be funded, new ideas were proposed, etc. Anticipated money was diverted by Court orders, so more money was needed.
Just my thoughts..
Anthony Bourdain, Kitchen Confidential. 2000.
“Bobby was noisily rear-ending the bride. She was bent obligingly over a fifty-five gallon drum, her gown hiked up over her hips. Bobby’s apron was up, resting over her back as he pumped away furiously, the young woman’s eyes rolled up into her head, mouth whispering, “Yess, yess… good… good…”
While her new groom and family chewed happily on their flounder fillets and deep-fried scallops just a few yards away in the Dreadnaught dining room, here was the blushing bride, getting an impromptu send-off from a total stranger.
And I knew then, dear reader, for the first time: I wanted to be a chef.”
Grim,
Is not so much hatred, as “fool me once -shame on you, fool me twice -shame on me). Murphy is perceived by all the power brokers as Corzine II. A schmoozer unanchored GS millionaire that “bought” the governorship with the intention of stepping stone to POTUS.
About Bourdain. Might sound mean but is another has it all, but feel sorry for me whiny boomer. The best thing about the locust boomers is that they are so egocentric/self-centered and morally bankrupt, that they are not tolerating ageing well. So hopefully there cost will be reduced a bit on the way out.
Don’t remember where I read the following:
“Ageing and dying is ugly, dignity is required. But the dignity required comes from the life led before dying.”
grim says:
June 8, 2018 at 1:06 am
Seems like even the state democrats hate Murphy now. The fireworks are plenty entertaining.
Trolling liberals over a sacred cow agency?…..PRICELESS.
Condo Deal: $50/night
12 Pens: $1,560
Journals: $1,670
Trump Hotel Mattress: $1,750
Private 40-min flight: $5,719
PR: $6,500
Chik fil A Franchise: $10K
Phone Booth: $43K
2 Desks: $70K
Friends’ Pay Raises: $85K
Italy Trip: $120K
Security: $3.5M
Bourdain’s start in Provincetown, he covered it in detail on his show a few years back and also did one on opioid addiction in small towns. Some of his best work by far.
He took his own life but he did live by some interesting principals.
Here is one that on a personal note I knew he tried to live by, since we tried to cut a deal with him a few years back to promote one of our brands, he basically called us assholes, at the time I thought he was crazy to turn down the money.
Quote from a Bourdain interview in GQ January 2017. “It is truly a privilege to live by what I call the “no asshole” rule. I don’t do business with assholes. I don’t care how much money they are offering me, or what project. Life is too short. Quality of life is important. I’m fortunate to collaborate with a lot of people who I respect and like, and I’d like to keep it that way.”
https://www.gq.com/story/anthony-bourdain-opioid-interview
I can’t say I didn’t warn you all about Murphy. He is everything that was bad about CC, but without those first three years where he actually tried to do what the state needed to do. You will all miss CC badly in another year. Hope the Republicans have a moderate they can run in 2022.
Frankly I’m surprised we don’t have legal weed in NJ yet. Seemed like a slam dunk.
We will have gun control though…10 round magazine limit bill is on Murphy’s desk. I don’t think there’s any grandfathering.
re: “Seems like even the state democrats hate Murphy now”
Let’s hope they take it our on Menendez in the Mid terms!
https://finance.yahoo.com/news/apos-tesla-builds-cars-love-222435810.html
Read the comments too.
Menendez will win and by a huge margin. The masses are asses and don’t pay attention. As long as there is a D next to his name, he WILL win. And good for him. This state gets what it deserves. Can’t wait to get out.
re: “gun control though…10 round magazine limit”
We fought WWII with only 8 round magazine in the M1, do you really need to fire more than 10 bullets at an intruder in your home?
Libturd – Party bosses won’t drive their voting block to the polls en mass if they aren’t getting what they want from Murphy. with low turnout anything can happen.
Tommy gun had a 20 round Mag
I guess we can only have what we “need” according to Phil Murphy and the legislature now.
Analyzing this tax issue is causing me to rethink my position on this. For the greater good, maybe it’s time we regionalize our school systems. It’s either this, or we keep paying the long term costs for isolating these individuals.
Bottom line, the majority of our tax burden has come from the isolation of minorities in our inner cities. We let those places go to hell starting in the 60’s and still paying the cost of it today. White flight produced heavy costs for the future generations.
On a positive note, these broken cities are starting to heal. Significant progress has been made in these cities. Gentrification is happening and it seems nj’s population is becoming more accepting of diversity.
Blue Ribbon Teacher says:
June 8, 2018 at 8:18 am
Another example, the impact of isolating minorities and leaving them behind in these cities to live off the govt
You mean like preventing motivated kids from Patterson from attending your school district?
in NJ, you can replace a candidate on the ballot up to 3 weeks before the election. If there are signs of Menendez losing, he will be replaced. Ironically, there are rumors he will be replaced with Torricelli!
You guys attack Murphy like the left attacks Trump. Give the guy a chance…
Sometimes you’re attacked by more than one person.
https://www.youtube.com/watch?v=Py4AMYebHGI
Murphy is just like Trump when he first came into office….Getting attacked from everyone. Every status quo politician is attacking him. Wonder why they don’t like him? Can the guy get a chance to carry out his plan? He was fairly elected to carry out the plan, let him have a try, and if it doesn’t work, we vote him out, but give the man a chance.
Gambling, weed to follow and then prost1tution. Give the riff-raff what they want. Mr. Potter would be proud.
If you elect Trump he’ll immediately cause
A Stock Market CrashA RecessionHigh UnemploymentLost US JobsNuclear WarA Trade War
Tune in next month for the “new” bad thing that Trump will cause.
Trump has done great things without anybody giving him a chance. Let’s see if Murphy has that level of stamina/balls/force of will…without giving him a safe space first.
Murphy is just like Trump when he first came into office….Getting attacked from everyone. Every status quo politician is attacking him. Wonder why they don’t like him? Can the guy get a chance to carry out his plan? He was fairly elected to carry out the plan, let him have a try, and if it doesn’t work, we vote him out, but give the man a chance.
He didn’t have a chance from day one. You can’t buy your way past everyone and then expect them to like you. Plus, he is woefully inexperienced. It showed during his campaign and it showed when he was an ambassador. Any idiot could make a fortune on Wall Street. It’s like owning a casin0.
BTW, can you believe that TIME cover? That would be appropriate if it was Obama, but no publisher has those kind of balls, just like nobody would dare call his daughters feckless cunts, though that’s probably how they’ll turn out.
A lesson Hillary still doesn’t get.
You can’t buy your way past everyone and then expect them to like you.
I still believe had HRC ended the foundation when she was SOS, she would have won the presidential election easily. It’s mere existence and potential for conflict of interest was easy fodder for Trump and his ilk. Shame Trump feels he has to parade around like PT Barnum, but he always did like seeing his name in the largest letters one could possibly fit on all of his buildings.
Juice 11:28 Yesterday,
Good luck with that approach. Being on the front line of a job search, it is not as simple as govt. and media want to portray. If you are making $10/hr., now you can demand $12. If you are a exec big-wig, perhaps there is another jump up for total comp. Grim has documented the great vacuum in the middle. If you are non-front office and making $150k-$160k, I dare you to try for $170k or more. You will hear crickets. I am 3 (hard) months in and still can’t believe the complete 180 since my last search six years ago. In summer 2012, after 3 months of looking, I had interviews with the two major hedge funds in CT as well as my current IB. I ended up with offer from IB at end of 3 months. Today, I am serious when I saw almost zero returned calls from recruiters or hiring depts. I have had one serious interview but mostly radio silence, job lead hot air or low-ball salary discussions that ended any further discussions. That is the truth of situation.
I concur, but Laureate University was a big mistake too and they should have never done that deal either. Had the foundation gone away, I think Laureate would have bubbled to the top, maybe not preventing her election, but it would have followed them.
This week we heard WJC say that he left the White House $16 million in debt. How did he get from there to being the richest former POTUS ever? His wife stayed in public service, he gave speeches? BS. GWB owned a huge stake in the Texas Rangers franchise and didn’t end up as rich as the Clintons. I think that’s the real character flaw in the nouveau riche – they don’t know when to let up when it comes to questionable income flow.
I still believe had HRC ended the foundation when she was SOS, she would have won the presidential election easily.
^^^ also, if Clinton gave up her foundation, she would have had no need for the private email server…so yeah…she would’ve been in like
FlynnBill.chi – out of the box thinking (I might have never been in the box): Is it possible that the entire S&P 500 really sits on the shoulders of a new tech bubble?
The previous tech bubble was the result of companies with no true business plan, made no money. Maybe the current bubble is the tech giants that are here to stay, but are grossly overvalued?
You mean like Tesla?
Tesla is like Theranos…except you can’t drive around and look cool on a fake blood test.
You mean like Tesla?
How great was it that Trump said this morning, on camera, that Russia should be let back into the G7(8)?
His next book: The Art of the Bait
Back when SNL was great:
https://www.nbc.com/saturday-night-live/video/president-reagan-mastermind/n9509
In early 2006, when job market was booming, I had a company actively go-after me, interview me then two days after the interview, I told them I had another offer (I BS’ed because I wanted to move quick.) There was a offer package for $5k more Fedex’ed the next day. Of course, it was mortgage IT so it all collapsed 1.5 years later. The unemployment numbers today must be a complete sham. You have absolutely zero leverage as job seeker.
Huge!
Trump Says He “Really” Supports Senate Marijuana Legislation
https://www.marijuanamoment.net/trump-says-he-supports-senate-marijuana-legislation/
In 1998-99 I interviewed guys who came with legitimate offer letters in hand. I was making less than $130K and I was handing out $80-$100K offers like they were candy.
^^^Boston salaries, 3 weeks vacation plus benefits. When I left the NY area in ’97 the salaries were higher, but nobody got 3 weeks vacation, 2 weeks was standard.
https://yhoo.it/2kZpcYt
Trade war in pictures. Who is winning?
Don’t forget to put in the US index of your choice for comparison.
By 2006( after taking 4 years off beginning in 2002) I was working from home with 4 weeks vacation PLUS an additional all expenses paid cruise starting your second year, so 5 weeks vacation. You know what? It was a rip-off. Our entire team of work-from-home guys and gals were putting in 60 hours per week, minimum.
You know what else is tough? When you have the same desk, what looks like the same computers, at home…but you’ve been unemployed for four years…and now you are working like a dog…from the same desk…in your same home…it’s kind of a hard sell to convince your wife and kids that you are actually working and really aren’t instantly interruptable anymore.
Come 2008 I never welcomed working in an office 9-5 so much in my entire life. I would actually lock my office door as I left and think….I am not going to do any more work until tomorrow…and I’m very happy about that.
Expat. That was pretty clever. I gave up on SNL when MadTV went up against them.
Lib – I haven’t seen it since the ’80’s, but I remembered it. I’m surprised I was able to find it so easily.
The guy is a fcuking pig, but this is out-of-the-box thinking…… kudos…
https://nypost.com/2018/06/08/trump-wants-nfl-players-to-suggest-people-he-can-pardon/
BTW, didn’t MadTV have a head start, began at 11PM and ran for an hour?
I think my favorite was Second City TV, when it used to come on after SNL.
Were you able to smell Bourdain’s corpse?
grim says:
June 8, 2018 at 1:06 am
Au revoir Paris
Enjoying lunch outside at Harborside, Jersey City. Will work rest of day from my iPhone relaxing alongside the river. I don’t see how suburban office parks can compete with Jersey City.
SCTV was fantastic too, but sometimes not so funny. SNL is going the way of Sesame Street. It’s trying to be too kind to every walk of life. BORING!!!
I gave up SNL after Norm Macdonald left. Norm was my favorite weekend update guy. He was absolutely vicious.
Will Ferrell was ok on SNL but his movie career was god awful outside of Old School. Darryl Hammond was great but never got the accolades he should have.
Heck. I’ll be in Tahoe the last week in June, but have to work Tuesday, Wednesday and Thursday. I’ll snap some photos of the office then.
BTW, does anybody here have a “blackout” period of TV in their life? For me it’s 1977-1984. I actually arrived at Rutgers with a gigantic “portable” TV, B&W 19″, bought from the guy up the block for $25. Sh!t reception in the dorms, nobody watched TV. The only exception was we used to watch Twilight Zone on whoever’s B&W had the best reception at midnight. Other than that, my compadres were just completely checked out of TV for many years. Even as we graduated with decent jobs and our own places, TVs were expensive, and cable was an extravagance. As a result, we were basically living off the media grid for a number of years. I hear of shows like “Punky Brewster” – never saw a single episode. Son of Sam – never heard of him until he was caught. We were even checked out of sports. I was a HUGE Yankees fan from ’69–’77, dropped out of that scene too until my gf, now wife, dragged me back in.
Maybe that’s what missing in college these days. It used to be all about who was around you, nothing about the world outside.
* I actually did watch the Bucky Dent game in 1978, on a very small B&W TV at college. That was pretty special.
There are so much noise in what is happening, it is almost impossible to draw some summary conclusion……. I think that the economic cycle is propping everything up…. analysts focus on autos, airlines, energy et al. as companies that should trade at lower P/E’s because of their cyclicality…… well it may be shocking how much investors should discount Google, Amazon or Facebook and their serial growth stories with an economic backdrop……… as convoluted as it sounds, maybe we are saying the same thing…..
The problem is inflows of capital from abroad into our markets……. everything is distorted……. I am discouraged (slightly) that value had so chronically underperformed……. it creates perverse incentives…..
The Original NJ ExPat says:
June 8, 2018 at 11:07 am
chi – out of the box thinking (I might have never been in the box): Is it possible that the entire S&P 500 really sits on the shoulders of a new tech bubble?
My blackout was at Rutgers as well. Moved in 98, no cable in the dorms at the time. I almost flipped out at a meeting because they were going to install cable but didn’t because college ave wouldn’t have it and it wouldn’t “be fair” and “they might complain”.
Noise: TCJA of 2017; algorythmic trading; passive investing; ECB/BOJ policy; U.S. oil/gas independence; Trump economic policy; China
Blackout for me was 1986-1998-ish
chi – My trading model stuck right now, and that bothers me. It tells me that my overall market posture is bullish and I should be buying Tech and Large Cap Discretionary.
My problem is that everything else looks so weak, I don’t see a sector rotation on the horizon like I usually do. I’m further bothered by other metrics that are half-heartedly indicating that interest rates may fall soon.
The outlier is something else that I’m sure only I follow, which is a proprietary ratio of new highs to new lows, but over vastly different periods. I like seeing this ratio at 2:1 or better, but that hasn’t happened since the January highs, we just barely got to 1:1 yesterday for the first time.
The thing that got me thinking about Tech specifically was I saw a guy on CNBC who said that the dot-com bust, ex-tech, resulted in the rest of the S&P 500 falling 20%. He went on to say that right now, ex-tech, we are at 10% down…essentially half of the dot com bust.
YMMV
ding! ding! ding! I think that’s the winner.
passive investing
I think you should ignore all of that mumbo jumbo and just focus on the fundamentals of individual companies. It works well for me. And put a large chunk into VUG.
And maybe PFL? (try to look at only the growth and income, not the premium).
I think you should ignore all of that mumbo jumbo and just focus on the fundamentals of individual companies. It works well for me. And put a large chunk into VUG.
I look at passive investing and the flood of liquidity from ECB/BOJ and international investors as a single self-reinforcing cycle. What is required is a good old fashioned b!tch slap to the newbies who think they have this hard stuff figured out. Once the artificial stimulus gets withdrawn “……you should ignore all of that mumbo jumbo and just focus on the fundamentals of individual companies…..” I agree with that quote, but it doesn’t work in this environment……… and you can’t argue with the newbies because they will point to the last 5-8 years….. fine…… I just don’t think we will get satisfaction for the forseeable future, so I save my breath….
The Original NJ ExPat says:
June 8, 2018 at 1:18 pm
ding! ding! ding! I think that’s the winner.
passive investing
Passive investing in itself is a distortion……
BTW….. I don’t give a sh!t ….. active-passive…… I make my money anyway…..
Over the last few years I’ve come to believe that momentum investing works best in an IRA where you have complete control. I’ve held positions years, but mostly I hold 3-9 months, 6-9 months probably for most gains. Being free of any gain or loss accounting, especially short term gains, makes all the difference. Also, by being regimented with stops, you kind of get put in the right position automatically. I have a large, large, large amount of cash right now, more than I’ve had for years, but I’m still up this year.
Bystander….. I forget who you are…. are you in SE CT?
If you are going to be in NYC in June, maybe we can grab a beer….. I always like to talk to people who are in similar (but not the same) lines of work. It helps me calibrate the things I say to clients……
I know a bunch of reinvented IB guys…. maybe we can network…..
Bystander says:
June 8, 2018 at 10:42 am
Juice 11:28 Yesterday,
Good luck with that approach. Being on the front line of a job search, it is not as simple as govt. and media want to portray. If you are making $10/hr., now you can demand $12. If you are a exec big-wig, perhaps there is another jump up for total comp. Grim has documented the great vacuum in the middle. If you are non-front office and making $150k-$160k, I dare you to try for $170k or more. You will hear crickets. I am 3 (hard) months in and still can’t believe the complete 180 since my last search six years ago. In summer 2012, after 3 months of looking, I had interviews with the two major hedge funds in CT as well as my current IB. I ended up with offer from IB at end of 3 months. Today, I am serious when I saw almost zero returned calls from recruiters or hiring depts. I have had one serious interview but mostly radio silence, job lead hot air or low-ball salary discussions that ended any further discussions. That is the truth of situation.
Who is the incremental buyer right now? Tech companies repatriating cash for buybacks? I don’t know…… it may be responsible for the wall of nonsense you are observing?
The Original NJ ExPat says:
June 8, 2018 at 1:13 pm
chi – My trading model stuck right now, and that bothers me. It tells me that my overall market posture is bullish and I should be buying Tech and Large Cap Discretionary.
Bear in mind…. U.S. dollar is strong…. emerging markets have been crushed….. but oil and commodity prices up…… a bunch of conflicting trends…..
I was recently asked to manage a relatives portfolio. His broker was horrid. These are the trades I made on 5/11/18. Have not made any moves since.
ADI 8.47%
LH 6.51%
ADBE 4.15%
BKNG 2.80%
VUG 2.45%
SFBS 2.42%
AL 0.69%
VUG makes up 65% of the portfolio. The other 35% is split evenly between the 6 other stocks. The individual stocks are close to doubling the VUG which is pretty good over the short-term.
How did I find the 6 stocks?
Simple Screener
Revenue Growth and EPS Growth average >15% annually for past 5 years
P/E under 35
Credit Suisse Outperform rating
Performance better than S&P 500 by 25-50% over past year
This yielded 40 stocks.
Then looked up each one in ValueLine to see if purchase was timely based on value.
Finally, I replaced all of the pucks in the urinals and mopped the floor before leaving.
Easy peasy.
chi – I’m essentially out of Tech right now. When I say I buy momentum stocks, I’m not just out shopping for mo, I need the overall market to be bullish(by my own metrics), and I need the sector I’m going to shop in to be bullish, and I have my own set of metrics that greenlights me to look. The last Tech stock I bought was SABR on 5/15.
ADBE is one of my longest holds. I don’t love it, I just move my stops up(never down) when my model tells me to, and it just has never come close to being stopped out.
Chi: There is still money to be made outside of the roaring P/E tech stocks. Admittedly, it’s harder than it has ever been to find the diamonds. But this is typical when well into a bull market run. Yes, the repatriations are tough to figure out what they’ll impact. But ultimately, a company that has shown it grow earnings for 5 years straight >15% annually, will double your money in 5 years if you buy when the price is at the bottom of the P/E channel. Everything else is really unnecessary noise.
Oh…and “BTW….. I don’t give a sh!t ….. active-passive…… I make my money anyway…..”
Exactly why I don’t use a broker. It’s hard enough to beat the indexes alone. How can you beat BOTH the indexes and your commission?
I meant a financial advisor.
This would make short term traders crazy. My “stop” on ADBE is at $95.06. My stops get moved mechanically on certain conditions, one of those three conditions is the stock falling below it’s 30 *week* moving average. That hasn’t happened to ADBE since the week of 11/28/16.
Correct. By the same token, how can you pick a mutual fund that employs stock pickers when 80% of mutual funds under-perform the market? How are you going to be smart enough to pick the 1 out of 5 funds that will do better and then keep changing into the next 1 out of 5?
When my wife would change jobs and bring her new 401K paperwork home, I would just look for whatever came closest to following the S&P 500 at the lowest cost and tell her, “Put 100% in this.”
Exactly why I don’t use a broker. It’s hard enough to beat the indexes alone. How can you beat BOTH the indexes and your commission?
I do something similar, but only for big dividend stocks, it is a stair-step chart that shows when the stock gets down to it’s highest average dividend yield. I just bought KMB using that method, hasn’t hit 3.85% dividend yield since 2012. As long as people keep wiping their asses…
Chi: There is still money to be made outside of the roaring P/E tech stocks. Admittedly, it’s harder than it has ever been to find the diamonds. But this is typical when well into a bull market run. Yes, the repatriations are tough to figure out what they’ll impact. But ultimately, a company that has shown it grow earnings for 5 years straight >15% annually, will double your money in 5 years if you buy when the price is at the bottom of the P/E channel. Everything else is really unnecessary noise.
Ah f7ck man, Bourdain too? Just left Paris this morning.
Quite a head size differential.
https://pagesix.com/2018/06/08/asia-argento-posted-then-deleted-bizarre-pic-before-bourdains-death/
Is there more to this story, grim?
Ah f7ck man, Bourdain too? Just left Paris this morning.
My perspective….. from page 112
“…We should not forget, however, the central point of trust-mediated money
management—that it enables investors to take risks, and earn returns, that
they might otherwise not obtain. There are surely significant distortions in
portfolio allocation that are inevitable when investors exhibit psychological biases.
Despite these distortions, financial advice and money management represent
an important service. The growth of the financial industry, described most
recently by Philippon (2012) and Greenwood and Scharfstein (2013), might first
and foremost reflect the growing demand for this service as investor wealth and
trust in markets have increased over time.”
https://scholar.harvard.edu/files/shleifer/files/moneydoctors_journaloffinance.pdf
Bystander, I hear you. Most financial firms are focused on cutting costs in the back and middle office at the moment, so not too many are hiring in high cost locations. Most are exploring so called “value locations” and are really holding the line on salaries. Nobody wants to pay at the moment and in fact they are looking at ways to cut, either people out right or by getting more volume out of the people they currently have so as to not increase spend. The finance industry is skeptical about growth and seems to think that margin compression is the order of the day. What I’m seeing is firms who are hiring want top quality talent for peanuts. Not at all what I want to see as I might need to find an exit soon.
Problem is, this industry looks at its back and middle office employees as commodities to suck profit out of instead of treating them like the human beings they really are. Sucking the productivity gains out of these employees and sending it to the top and shareholders. Ruthless cunts.
JCer says:
June 8, 2018 at 3:05 pm
Bystander, I hear you. Most financial firms are focused on cutting costs in the back and middle office at the moment, so not too many are hiring in high cost locations. Most are exploring so called “value locations” and are really holding the line on salaries. Nobody wants to pay at the moment and in fact they are looking at ways to cut, either people out right or by getting more volume out of the people they currently have so as to not increase spend. The finance industry is skeptical about growth and seems to think that margin compression is the order of the day. What I’m seeing is firms who are hiring want top quality talent for peanuts. Not at all what I want to see as I might need to find an exit soon.
pumpkin it’s an eat what you kill culture. That is why the banks are fairly incompetent when it comes time to execute, they think in terms of bodies and cost rather than focusing on the end goal of efficiently and effectively running the business. Finance people tend to want to distill operations decisions into financial decisions…everything is a debit and a credit….revenue or cost. Without fully understanding that execution is a big part of the business….it’s not just making the transaction but being able to make today’s transaction and be ready for tomorrow’s needs. Banks are failing to build the internal capabilities to compete in tomorrow’s world and will eventually be vulnerable to a disruptor. Conceptually markets and trading as we know it will be fundamentally changed by technology, I don’t view it as an if but a matter of when. Traditional line banks will be at a massive disadvantage if they do not invest in their strategic capabilities(mostly people, process, and technical wherewithal).
Agreed, this is mainstream now. It changes the market and you must adjust. Not many people dollar cost averaged, so that worked beautiful for a while. Now the game has changed. Everyone is passive investing, hence, now is when you want to start picking stocks that play off the opportunities created from a market so heavily invested in passive investments. If everyone is doing passive investing, it has to create golden opportunities for investors that wish to go against the herd.
Don’t bash me, I could be way off with this, but this is what comes to mind when I analyze the current market. I think the big boys have been doing this over the past year…. so much volatility, they must be killing it.
The Original NJ ExPat says:
June 8, 2018 at 1:18 pm
ding! ding! ding! I think that’s the winner.
passive investing
Sounds dead on to me. It’s like they lose track of the big picture, which is long term survival, and focus only surviving in the short term. Going to be a price to pay for this type of thought process.
JCer says:
June 8, 2018 at 3:46 pm
pumpkin it’s an eat what you kill culture. That is why the banks are fairly incompetent when it comes time to execute, they think in terms of bodies and cost rather than focusing on the end goal of efficiently and effectively running the business. Finance people tend to want to distill operations decisions into financial decisions…everything is a debit and a credit….revenue or cost. Without fully understanding that execution is a big part of the business….it’s not just making the transaction but being able to make today’s transaction and be ready for tomorrow’s needs. Banks are failing to build the internal capabilities to compete in tomorrow’s world and will eventually be vulnerable to a disruptor. Conceptually markets and trading as we know it will be fundamentally changed by technology, I don’t view it as an if but a matter of when. Traditional line banks will be at a massive disadvantage if they do not invest in their strategic capabilities(mostly people, process, and technical wherewithal).
The most valuable thing to any business is not the product, but the quality of the employee.
Give me any product or service, give me the best workers, and I’ll take over that market.
Employees are the key to business, why they are being treated so badly is beyond me. Bad business practice long term.
Tech companies are prob the only industry respecting employees. Other industries have conspired together to hold wages down. Is it no wonder the tech sector is killing it right now…..they have attracted all the best workers/minds out there by offering fantastic pay and compensation packages.
Internal audit is getting killed in my neck of the woods. Stay far away from internal audit!
This Lutze beer garden in Harborside, Jersey City, is a nice place. Across the river it would be swarmed with tourists.
Wow, perfect article for today’s discussion. This article breaks my heart.
“US executives reveal capitalism’s real plans: stagnant wages and fewer job openings will continue for years. “Positive” economics from politicians, media, and academics aims to drown out our system’s critics, and offset rising mass anxiety about a capitalist future.”
https://www.axios.com/broad-based-pay-rises-retraining-automation-executives-3e68d31c-51bc-4bde-a362-7ce12b039e7c.html
A sharp AG could bring suit against them as they are in collusion to hold down wages. This could have been brought just after the big tax break as they promised to raise wages. It’s not the promise but as they acted as a whole.
All of these high profile suicides put a face to the rising suicide rate here in the US.
Now the number 10 ranked killer of Americans.
Donald Trump has called for Russia to be readmitted to the G7 club of world leaders, opening up a new rift with Europe at the start of an acrimonious summit in Québec.
The US president argued that Russia’s suspension from the then G8 in 2014, after it annexed Crimea, should be reversed for pragmatic reasons.
It marks a dramatic break from the position of Washington’s main European allies and parts of Trump’s own administration, who insist Moscow must abide by a peace accord in Ukraine before normal relations are resumed.
Pumps big tech has long conspired to hold wages down. Don’t buy there line of BS. they are better in realizing it is the quality of the team that determines the quality of the product and motivating said employees is important but make no mistake they are desperately trying to keep those wages down, good technologists are hard to come by and finding great technologists is like panning for gold. Go conduct an interview to hire a technologist, and you’ll see it will take 50 interviews to get one good candidate, 20 of the people will be wholly incapable of doing anything besides the most basic programming, 20 will be able to build you something but it won’t be elegant and they will be fixated into one particular technology/process/etc, the remaining 10 are the people you want, at least half of them are already happily employed and are really just testing the market to see if they can get a big payday. Of the 5 remaining you’ll be in competition with other employers to get one, so after interviewing 50 people you get one and you probably reviewed a hundred resumes.
This exercise tells me there are not a lot of these people out there. Based on the market for those people and the kind of productivity they can have 200k annual seems like an easy number yet engineer salaries on average are way lower…..
The constant H1B threat, offshoring, etc and the secret non-compete deals the tech co’s have with each other(see how apple and google have an agreement to not hire each other’s people) has really suppressed wages. As high as tech wages are they probably in a truly free market would be higher(even offshore the market is tight for quality technologists).
“I never promoted a woman because she was a woman. I never demoted a woman because she was a woman. My issue is what do you do, what do you produce, how do you interrelate to the rest of the business. I don’t think there’s ever been a, ‘We gotta get more pussy on the block, OK?'”
Sam Zell, June 6, 2018 at the NAREIT Real Estate Investment Conference, Hilton New York
chicagofinance says:
Your comment is awaiting moderation.
June 8, 2018 at 4:52 pm
“I never promoted a woman because she was a woman. I never demoted a woman because she was a woman. My issue is what do you do, what do you produce, how do you interrelate to the rest of the business. I don’t think there’s ever been a, ‘We gotta get more pu$$y on the block, OK?’”
Sam Zell, June 6, 2018 at the NAREIT Real Estate Investment Conference, Hilton New York
Jesus, I had no idea tech was just like all the others. Wtf!
What really pisses me off, and IMO, is the pinnacle of hypocrisy is the union between Apple and Google to agree to hold down wages. These are the hypocrites who praise free market theory and bash worker unions, but it’s okay when they do it.
Truth is, if all workers decided to stop working, they would realize they hold all the power in the negotiation. Too bad they are too ignorant to realize this. An owner will only hire you if he can make money off your labor(which is fair). Problem is they are profiting too much off this labor, and if people were smart, they would come together to request a better deal on the profit from their own labor.
“The constant H1B threat, offshoring, etc and the secret non-compete deals the tech co’s have with each other(see how apple and google have an agreement to not hire each other’s people) has really suppressed wages. As high as tech wages are they probably in a truly free market would be higher(even offshore the market is tight for quality technologists).”
An owner deserves to have the biggest slice, but they have no right under an efficiently run capitalist system to take almost the whole pie. F’en idiots!
4:52 Zell – a bigger schmuck there never was.
Responding to JCER, not Pumps. Pumps is on permanent ignore. The reason tech pays so well has absolutely nothing to do with smart management. It has everything to do with astronomic P/Es. When stupid investors are rewarding Amazon with a P/E of 275, they can afford to pay their truck drivers ten times what everyone else does. Instead, they pay them $3 more per hour. Kapeesh?
And Chi,
Besides removing the inherent psychological biases which trip up Pumpkin every which way. I would argue your service is worth it for someone who does not have the required time to study changes in tax law as well as changes in the financial markets. I really have nothing against the industry. I just find it incredible that really wealthy people think a higher commission equals betters results. When I share my investment club results, they can’t believe it. Then again, when I share my ShopRite receipts, where on average I pay about 1/3rd of what nearly everyone else does, they also can’t believe it.
Anyone tried the new Yuengling golden Pilsner yet?
Does it make your farts stink like the lager?
Why don’t you show your boss and your employer how irreplaceable you are and walk out?
The Great Pumpkin says:
June 8, 2018 at 4:58 pm
Truth is, if all workers decided to stop working, they would realize they hold all the power in the negotiation. Too bad they are too ignorant to realize this.
Truth is, if all workers decided to stop working, they would realize they hold all the power in the negotiation. Too bad they are too ignorant to realize this.
The nurses at my father’s hospital in the 90s went on strike. They were all fired and replaced immediately. It didn’t work out. There would always be a small segment of the population that will come in to fill the void. Your scenario is a hypothetical pipe dream that will never even be tested and if it were, would self correct very quickly without the desired result.
Remember in the Reagan years when air traffic controllers went on strike? Reagan just fired them all and rehired. Everyone is expendable.
On August 5, following the PATCO workers’ refusal to return to work, Reagan fired the 11,345 striking air traffic controllers who had ignored the order, and banned them from federal service for life.
https://en.wikipedia.org/wiki/Professional_Air_Traffic_Controllers_Organization_(1968)
That’s why I said “all” must partake for it to be effective, but you are correct, it’s a pipe dream. People are far too greedy and stupid to carry this out. Like you said, you will always have a few idiots that ruin it for everyone else.
Blue Ribbon Teacher says:
June 8, 2018 at 10:55 pm
Truth is, if all workers decided to stop working, they would realize they hold all the power in the negotiation. Too bad they are too ignorant to realize this.
The nurses at my father’s hospital in the 90s went on strike. They were all fired and replaced immediately. It didn’t work out. There would always be a small segment of the population that will come in to fill the void. Your scenario is a hypothetical pipe dream that will never even be tested and if it were, would self correct very quickly without the desired result.