From CNBC:
Many millennials say buying a home may finally be within reach
Samantha Suckno says knew she wanted to start to build a life with her soon-to-be husband in a home they owned.
So she and her fiance, Jason Ortiz, came up with a plan: move into a rental property together, pay down their bills and start saving. The couple also cut back on traveling.
“The money I was using to pay for my own rent was basically going into paying off credit card debt,” the 31-year-old said, noting that when she was on her own she “had been living paycheck to paycheck.”
Suckno and Ortiz, 37, were married in February 2018. In July, they bought their first home together in Rockaway, New Jersey.
Their decision to make the leap into homeownership may be part of a growing trend.
A new study by Chase Home Lending found 52% of millennial first-time homebuyers feel financially ready to buy a home. And 70% said they are willing to cut back on extra-curricular activities, like shopping, movie-going and a spa visit, once a month to make it happen. The bank surveyed 1,000 first-time U.S. homebuyers, ages 22 to 38, in March.
…
They also have things like student loan debt and delayed marriage to thank for the late start. Additionally, older millennials graduated during the last recession and witnessed the housing crisis.
“They went through a process where renting seemed like a better idea and a safer outcome,” said Sean Grzebin, head of consumer originations at Chase Home Lending.
Then there is the desire they have for a more balanced life that includes spending money on traveling and going out to dinner, he added.
However, now “they are starting to realize the importance of homeownership and the necessity to have some balance in terms of sacrificing those things,” Grzebin said.
In fact, Suckno said she was among the last of her friends, fellow millennials, to buy a home.
First
“Suckno….her poor husband.”
-JJ
The millennials are coming!
Murphy is poised to break up Norcross’s grip on power in south Jersey. This would be a huge change in the political landscape in NJ.
NJ tax break winners gave millions to political group linked to George Norcross
https://www.northjersey.com/story/news/watchdog/2019/05/30/george-norcross-general-majority-pac-nj-tax-breaks/1208414001/
They are buying homes now and pushing 40 then kids and slogging through middle age with young kids and a big mortgage! Then the layoff concerns kick in as they get older and college looms. Throw in another housing decline at some point and yes finally the millenials are coming it will all be great
Murphy is a good guy. This guy single handily came in and took on the establishment and will win. Trump claimed to “clean up the swamp,” while Murphy is actually doing it. His first move was knocking sweeney out of the position of governor. Now he is taking on the boss.
D-FENS says:
May 30, 2019 at 8:44 am
Murphy is poised to break up Norcross’s grip on power in south Jersey. This would be a huge change in the political landscape in NJ.
NJ tax break winners gave millions to political group linked to George Norcross
https://www.northjersey.com/story/news/watchdog/2019/05/30/george-norcross-general-majority-pac-nj-tax-breaks/1208414001/
Murphy ought to be careful. He has his own problems with donors to the Pro-Murphy “New Direction New Jersey” group that hides it’s donors from the public.
They’re also bringing their millennial ideals. I’ve already been lawn-shamed for applying Weed-B-Gon because “…the bees eat dandelion & clover pollen”. This as they push their battery-operated lawn mower, sneering at my gas-sucking 5HP Briggs & Stratton.
Yes, you know how this story ends…. Murphy becomes exactly like the corrupt entity he came in trying to destroy.
The Wire does a great job of explaining this situation with politicians that come in with good intentions but succumb to the system in order to get some things done. The mayor was a good guy with good intentions on the wire, but we all see how it ended. Human nature is a bi!ch.
D-FENS says:
May 30, 2019 at 8:53 am
Murphy ought to be careful. He has his own problems with donors to the Pro-Murphy “New Direction New Jersey” group that hides it’s donors from the public.
I want to share a useful website that will brighten up your day with new great music!
Many people know how hard it is to find and download a new MP3 music track to listen to.
Usually there is good music on sites such as YouTube, but you can’t download music from there to your computer or phone.
But with the [b]bestvideoconverter.net[/b] website you can easy convert (and edit) any [b]YouTube music video to mp3[/b] and download it!
Here is the link: [b][url=https://bestvideoconverter.net/youtube-to-mp3]Theyoump3[/url]
[/b]
“New Direction New Jersey”
Google it Ping Pong Putz
Pump’s hero:
https://www.northjersey.com/story/news/new-jersey/2019/05/23/phil-murphy-foundation-spending-different-from-trump-foundation-spending/1139272001/
Yes I saw Murphy’s latest TV ad, crying the usual “fair share”. Does Phil actually believe that he can run an even more bloated state sector by squeezing even more out of NJ’s limited number of millionaires? I take it as a “millionaires, accelerate your plans to move out of NJ” advertisement. Which should stimulate some real estate and corporate relocation consultant business.
Sowwy to huwt your wittle feeeeewings, Punkin, some people are just so gweeedy that they don’t want more than half their earnings taken to provide health care to illegal aliens, or massive pensions for NJ Transit slackards, or edumacation administrators who spend their lives finding ways of injecting leftist propoganda into schoolkids.
No one,
That’s fine. I’m not afraid of millionaires leaving….what’s the end result? More opportunities for the people that stay. Lower pricing for everything as the individuals responsible for the high costs exit the door and drive up the price in some other location. If they want to stay, put in your fair share.
If you are making a million or more, stop crying about paying 50% in taxes, you are still killing it. Your quality of life will not be affected, you will still be living large and in charge. Much better than the rest. How will your life change if you are taxed at 30% as opposed to 50%? How much better is your quality of life going to be with the 200 k in extra income? You can’t even spend it all at a 50% rate, unless you are spending on nonsense aka spending for the sake of spending. You are telling me you need more than 500,000 a year in cash? You need to have 700k to make your life better? Think about how greedy you sound to the avg human being.
Again, this society has granted you the ability to be nice and safe making 1 million plus a year, but your selfish tendencies won’t let you give back in support of the system making you rich. I’m sorry, you are selfish.
What’s your answer to the cost of society….tax the people living paycheck to paycheck more so that they have to sacrifice putting food on the table so the rich can have a low tax rate? Come on, just open up your mind and understand the rich have the means to help and pay for society, but for some reason, they choose not to. I hope the populace turns on them if this is the case.
Who has seen the biggest percentage income gains in our economy over the last 20 years? Based on this logic, who should pay the highest tax rates? Who are the spoils going to? Open up your eyes!
Don’t ruin this country by turning it into Brazil or any of these other countries that cater to the rich at the expense of everyone else. Go move there. Let this be a country for everyone instead of the few….like it was during most of the 1900s. That’s what made America great, not that we had a lot of rich people, but that we had a strong middle class. Where working hard was rewarded with a quality life that has now been stolen by the ultra-rich. Our country too, why do they deserve it all?
I would not want to move to Rockaway NJ – route 80 east is absolute hell in the morning
Home sales down, Ping Pong Highway houses doing even worse.
Home shoppers signed 1.5% fewer contracts to buy existing homes in April compared with March, according to the National Association of Realtors’ Pending Home Sales Index.
Sales were 2% lower compared with April 2018, the 16th straight month of annual declines.
https://www.cnbc.com/2019/05/30/april-pending-home-sales-fall-unexpectedly.html
They also have things like student loan debt and delayed marriage to thank for the late start. Additionally, older millennials graduated during the last recession and witnessed the housing crisis which promptly turned them into glass-touching zombies.
Hey, let the pricing drop, it’s good for millennials looking to start families. Give them a break after getting beat down for so long. We don’t need home appreciation right now, the boomers took enough already.
The Original NJ ExPat says:
May 30, 2019 at 10:24 am
Home sales down, Ping Pong Highway houses doing even worse.
Home shoppers signed 1.5% fewer contracts to buy existing homes in April compared with March, according to the National Association of Realtors’ Pending Home Sales Index.
Sales were 2% lower compared with April 2018, the 16th straight month of annual declines.
https://www.cnbc.com/2019/05/30/april-pending-home-sales-fall-unexpectedly.html
Millennials now own the housing market.
“As a comparison, there is just a 3.3-month supply of homes for sale priced under $250,000 nationally, but an 8.9-month supply of homes priced $1 million and above.”
The Gonorrhea market too.
Millennials now own the housing market.
Mayor Carcetti in the wire never had good intentions. He was always about himself.
This is the view I take.
“I think Tommy Carcetti started off with the best of intentions and really did want to make a difference. If you recall the scenes where he speaks to his wife in their house away from the TV cameras/public you get the sense he was passionately behind making a change.
Another indication of this is when he first becomes mayor and leaps into action getting various departments to fix playgrounds, fire hydrants and burnt out cars straight away. He also makes a real effort to fix the police department, using his natural instinct to spot the talent in Daniels and believing he was the key to change.
I think if he really didn’t care he wouldn’t have singled him out like he did and put the effort in to do a shakeup.
But he was also an incredibly ambitious person and when push came to shove he showed that he valued his career progression over helping the city.
When the news of the school deficit hit, Carcetti was effectively crippled in terms of fixing the police department and this is when he began really looking out for himself and becoming hypocritical.
Before becoming mayor (and a short time after), Carcetti was against ‘massaging’ crime stats and by the end of the series, he was demanding it as it would affect his chances running for Governor.
Another huge decision was to turn down aid from Annapolis (despite advice from Norman/his wife) to help the school problem because of humiliation (the Govenor demanded he accepts the aid at a public press conference). This is where he put himself and his ambitions first and the city second.
I think Carcetti gave up when he found of about the budget problems and began looking after himself, but he did seem genuine about fixing the city before the school issues began.”
Asking 499.9K, was at 535K, sold last August for 370K. Is it a flip?
https://www.trulia.com/p/nj/midland-park/197-erie-ave-midland-park-nj-07432–2006485637
Another indication of this is when he first becomes mayor and leaps into action getting various departments to fix playgrounds, fire hydrants and burnt out cars straight away.
haha, that’s called the dog and pony show.
What about the very first budget meeting in which Carcetti tries to get the council woman on his side saying she could be mayor in a year or two because the governor’s race was coming up. That’s how his administration started. It never did.
I guess, in your mind, Chris Christie was well intentioned as governor as well. The guy started running for president before he ever got in NJ office.
A new real estate project zoned for Wayne NJ:
https://www.youtube.com/watch?v=HYz73W_dufc
Chengdu Colfax?
Blue,
Fair enough, I can see it both ways.
I honestly think he had good intentions just like most real-life politicians, and then the machine eats them up and spits out the corrupt figure.
The same thing with big business….good guys have no place in that realm. Just like in politics, a good guy can’t win in the business world. You have to be ruthless and you have to cheat, that’s the only way to win. You can’t beat people cheating by following the rules. Politics and business change the individual for the worse, no man comes out of either field the same way they went in.
Look what’s happening to musk….competition is starting to corrupt him. A good guy went chasing a dream, and the machine ate him up and spit out your typical ruthless individual that will stop at nothing to achieve said goal. His success most likely will have a positive impact on society, but he ruined a lot of lives getting there.
Follow Mikie Sherrill. I think she is incorruptible. In her short tenure she has already upset lots of true blue liberals for not aligning with the DNC on a number of issues. For example, she did not vote for Nancy Pelosi to retake the Speakership, which is pretty friggin’ ballsy for a rookie. She is as real as they come. She also did not run on the familiar, anti-Trump platform.
Currently, she’s pushing bills to attack SALT and get that TUNNEL built. What you won’t find is any of this gender, immigrant or climate change crap. I don’t follow any politicians on twitter because they are all bullsh1t. I do follow her because I think she has the brightest of political futures ahead. Shame there are so few of them who get it.
Good insight, Lib. Call me the optimist, but she gives me hope…
Is it too much to ask that we have people in politics and business guided by doing what’s right for America/society as opposed to obsessively chasing profit at the expense of everything else we hold dear?
Turd, she’s owned by lawyers & bankers. They’re currently off the hook, with all the Rusher and Peachmen talk still happening. They will come to collect eventually.
Closed on the house last week. No longer my problem. What a process–I feel like Frodo after Sauron succumbed: “It’s over, it’s done . . . ”
Handyman is over at the new place now, doing what I told the landlady to fix. All I need to do is write checks and take out my trash. No more yardwork, maintenance work, etc.
And nice to no longer be in the sticks. I can walk to State St. bars and restaurants, and its 5 min. to the Blue Route.
Lol…you dirty renter!
Congrats on the closing.
This economy is starting to get scary. I got hit with 15% raise from garbage man and now 20% on daycare. Neither of these has gone up at all in 4 years. I think the next 6 months are going to be extremely interesting. There is absolutely no way under 2% inflation is occurring now. Prepare for some rocky times ahead. I personally don’t think businesses are prepared to push wages up as labor market is not strong enough in this area. This could get ugly quickly with so many people on the edge as it is with no savings. Housing is already reflecting very bad signs of afforability.
Bystander, there is a dichotomy, your traditionally lucrative sectors are seeing wage pressure while the labor sector is seeing wage growth as a result of immigration and government wage policies. Realistically when minimum wage is paying $15 in NYC, laborers in the nearby surroundings will ask for more.
JCer,
Agree. It is coming fast and furious now. No more bullshit on the impact to area. It is here. I guess we will find out how economically resilient the local states are now. CT is f*cked just like NJ. I perused Indeed this morning and Software Implementation Project Managers/Tech Leads are showing $95k a year in NYC. Multiple listings with similiar expected skill in this wage range. LinkedIn is even sadder. I see posts from American working for HCL (Indian outsourcer), begging for Charlotte job and the responses are like 95% indians asking for his CV for a job no where near him. I just can’t beleive we allowed the country to get to this place so easily. Like I said, this is going to get ugly.
Lib,
Mikie Sherrill is beyond impressive.
At her first town hall hipster stood up and said Medicare for all. She said she believes all should get healthcare but have to figure out reasonable way to pay for it.
Another person told her to cut military budget. She said it actually needs to be increased but also to get of wasteful programs need to end like at end of month if you don’t use up your ammo nexts months allocation gets cut so she says, what do you think happens at the end of the month hint, millions of rounds get shot.
Mikie is US Navy, flew helos in the gulf (seawolf). Fist female group of US Naval Acadamy grads eligible for combat. Naval aviator = ice water in her veins. Very calm, measured and thoughtful. Personable with a disarming smile. Seems genuinely nice but my guess is when she needs to rip some a$$, she is more than able. Definitely a superstar.
My favorite from 20 replies to the guy for a job. He is in North Carolina but open to some travel.
Samkit XXXXX
“Hello Mark, i have a permanent opportunity with one of the leading commercial Bank in Mauritius. let me know if we can connect and discuss about it”
“Turd, she’s owned by lawyers & bankers.”
Those are some pretty small amounts. We’ll see how she positions herself on items of record where they are included.
Bystander, I’m not in tech so can you shed more light on your previous post?
In general, I think the economy will start to crumble in Sept and when it finally gives way, it will be much much worse than 2008.
Damn, Home Depot is bringing out the big guns now. Cheap f*cks with their minimal discounts and zero reward card program. I have never received anything more than 10% off coupon that I can think of. Blood must be in the water to offer 15%.
“Get $15 off* your next in-store or online purchase of $100 or more”
Nomad,
Just my normal routine. I work in IT project management for the global banking sector and share room with 12 Indian guys. Really great group of people but I also point out that their presence in our CT location shows how wages continue to be undercut by H1B and outsourcing companies. I manage work force plans for 100 people (outsourced) in Bangalore and Pune. We are strictly not allowed to hire US workers for any development needs. When you have lack of development and IT infra spendng along with overun of H1B labor then it is not a good place to be except for these wealthy institutions looking to squeeze more.
There is absolutely no way under 2% inflation is occurring now.
Agree with this.
Global outsourcers are now closing US sites en masse. In a year’s time, it’s become impossible to operate in the US. Increases in minimum wage, competition at the low end, high attrition, nearly impossible to hire. Low end wage inflation is more than material. Outsourcers are breaking contracts because it’s impossible to hire employees at previously contracted rates. Listen to me when I tell you onshore US outsourcing is dead. Everything is now moving nearshore, or offshore.
Minimum wage increases don’t cause layoffs? Nonsense. The industry has laid off thousands of US workers in the past 3 months and moved them offshore. The sites that these employees worked at are not being mothballed, or scaled down, they are exits. These jobs will never return.
Time to start some tariffs….this is disgusting.
You want to chase cheap labor, slap a tariff on your import. Stop shortchanging Americans.
Grim, what was the alternative for these workers? Work at wages they can’t live on? Why are we blaming workers for jobs being outsourced? What good is a 10 dollar an hour job that pays 20,000 a year in America? It’s absolutely worthless. You mine as well go beg for money…
grim says:
May 30, 2019 at 5:14 pm
There is absolutely no way under 2% inflation is occurring now.
Agree with this.
Global outsourcers are now closing US sites en masse. In a year’s time, it’s become impossible to operate in the US. Increases in minimum wage, competition at the low end, high attrition, nearly impossible to hire. Low end wage inflation is more than material. Outsourcers are breaking contracts because it’s impossible to hire employees at previously contracted rates. Listen to me when I tell you onshore US outsourcing is dead. Everything is now moving nearshore, or offshore.
Minimum wage increases don’t cause layoffs? Nonsense. The industry has laid off thousands of US workers in the past 3 months and moved them offshore. The sites that these employees worked at are not being mothballed, or scaled down, they are exits. These jobs will never return.
The Midland Park flip is about 1500 GLA. Driveway and landscape are new $10,000. New kitchen with some walls removed $22,500. Two new full baths $15,000. Paint and floor refinishing at $7 a square foot $10,500. Lighting, switches and outlets $3000. Likely another $15,000 in additional stuff. Total renovation about $76,000 conservatively. Add this to the $370 PP, 4% commission on sale, hold cost of about $1000 per month and you have a bad deal.
Fast Eddie says:
May 30, 2019 at 11:37 am
Asking 499.9K, was at 535K, sold last August for 370K. Is it a flip?
https://www.trulia.com/p/nj/midland-park/197-erie-ave-midland-park-nj-07432–2006485637
We just were notified by the place we buy kitchen cabinets from that there will be an 11% increase in the price of the cabinets we buy due to tariffs.
Cheap prices are great until you don’t have a job…
Pumps – I asked you this question before and I don’t think I ever got an answer.
Regarding the 50% tax on millionaires. Let’s say I make 1.0mm and pay $500k in taxes. You say that last $500 should not matter to me? t I owe it to society?
My question is – Why do you think that a room full of elected morons are more capable of spending the $500k I EARNED than I am? Why do you expect government to be masters of allocating capital when they have never once proved that they were capable at all.
He’s going to say you’ll hoard it and let it sit under a matress.
Then take on these infrastructure projects on your own. Form a coalition where you take on the infrastructure projects saving everyone the tax cost. Do you understand that no one wants to touch infrastructure, hence, why the govt must finance it? You know how much risk is involved with financing some of these infrastructure projects. Trust me, no one in the private sector with the money to finance this will risk it on these type of projects. They rather buy the govt bonds and leave all the risk with the taxpayer. Don’t be stupid or naive as to why govt pays for infrastructure.
Also, everyone that makes a million or more a year are not masters of capital. That’s why they hire financial advisors.
L.A. Developers Have a Big Problem: Too Many New Megamansions
Builders and brokers are throwing blowout bashes and testing an array of marketing stunts amid the area’s spec home bubble
https://apple.news/A3VSpmpJaRsWiu5OpruClnw
Pumpkin – I offer a different solution. Anyone that makes more than an area’s AMI should be taxed at 50%. Everyone that makes less than AMI get’s taxed at 0%.
We all benefit the exact same way from the spending of tax dollars. My proposal is just as arbitrary as saying tax incomes greater than 1.0mm at 50%. I would argue that my proposal is far more equitable.
RE: My proposal above – My mind is swimming with schemes on the 50/50 tax proposal. Imagine an employee making 75,000/yr living in an area with a 74,900 AMI. How quickly would that person try to move to a higher AMI area to protect his exemption.
Think of how quickly we could depress the low AMI census tracts when people shuffle around in search of the right “no tax” location for their income. Also – think of it at raise/bonus time. Imagine, making $70,000, same location as above and getting a $5,000 raise. That $5k increase lowers your Real income by 50%. “No thanks Boss Man, I think I am paid just right!”
Listen, no one is talking about equitable across the board. Flat tax doesn’t work. What we are advocating for is a progressive tax rate. That’s fair across the board. That millionaire pays the same tax rate on the first 100,000 as does the individual that only makes a 100,000 a year. If you happen to get lucky enough to make a million dollars a year, you a pay a much higher rate on every dollar over a million. What’s so bad about that? Fair…
Plus, millionaires tax is just smart based on current dilemma. How many people does it really impact, and how much does it bring in? What helps the state economy more, all that money in a few hands(they really won’t even notice the difference), or it distributed through the economy? Even if the money is wasted through corruption, the money is still going to work in the nj economy.
Nonsense millionaire taxes will spur all sorts of schemes to avoid the penalties.
The creativity that makes America great is the same creativity that powers tax avoidance strategies.
In many of these cases, these people are so successful they would easily be able to slide into deferred compensation schemes. Paid less annually, for a length of time that extends longer than their period of direct employment. Cut my salary in third, and pay me over a period three times longer than my employment.
Think about this statement please, would you notice 50% of your income being taken against your will? Would you work your A$$ off to find ways to shelter it from being taken to be spent by morons on the “greater good”.
Let’s change it – Let’s tax every single person that makes less than $100,000 at 50%. This should motivate them to work harder and get a raise right? Also, poor people use more social services than rich people, only right that they should pay more. It’s only 50% of their income, based on your statement, they won’t miss it anyway.
Give me compensation in equity.
What then?
Most of the ‘billionaires’ today are billionaires on paper only. Make no mistake, they are very wealthy, but when a vast majority of that wealth is tied up in unrealized capital gains, what are you going do, tax it?
Give me a break. Start taxing homeowners annually on the unrealized capital gains of their real property? That’s basically what you are asking.
At what point does the annual tax payment require these people to sell their equity to pay taxes? That’s essentially the equivalent of the government seizing private business equity.
Give me compensation in the form of labor assistance too.
Hire me two personal executive assistants to help me manage my private affairs so that I am not distracted by them and can focus more on my job as CEO. These are corporate employees, and their roles aren’t so far outside the roles of typical executive assistants, so they wouldn’t in any way be treated as compensation to me. There is likely value to me there personally that may exceed the after-tax income that I’d defer for the benefit.
Grim is right – My role is completely commission based and I could very easily structure my compensation to be as minimal as needed on a short-term basis and defer comp for years if I chose.
I have a colleague that looked like he was making next to nothing for 18 months while he finalized his divorce. Scummy move? Maybe but you never know how aggressive/creative people will become when you try to find ways to stick your hands deeper into their pockets.
NJREREPORT.COM is great until you post.
The Great Pumpkin says:
May 30, 2019 at 6:16 pm
Cheap prices are great until you don’t have a job…
“Plus, millionaires tax is just smart based on current dilemma.”
The current dilemma is that the government is disgustingly corrupt, mega-oversized, mainly a patronage mill and almost wholly unnecessary based on what I witness from them on a daily basis.
How about for every million raised by the millionaires tax, the government must cut their spending by one million?
At what point does the richest amongst us realize the price that comes with that type of wealth. You have an obligation to society and a role that comes with that wealth. You should not be avoiding your obligation to make society better for all. Carnegie understood this, too bad the neo rich of today have no understanding of their role and obligation to society. You were given power, and now you must use that power for the good of society.
What kind of scum bag becomes worth 500 million and then obsessively dodges taxes….like it’s a sport getting over on the rest of society. What sickos.
grim says:
May 31, 2019 at 5:41 am
Nonsense millionaire taxes will spur all sorts of schemes to avoid the penalties.
The creativity that makes America great is the same creativity that powers tax avoidance strategies.
In many of these cases, these people are so successful they would easily be able to slide into deferred compensation schemes. Paid less annually, for a length of time that extends longer than their period of direct employment. Cut my salary in third, and pay me over a period three times longer than my employment.
In other news, Trump’s about to claim that Mexico is now paying for the wall through his new 5% tariff. I think we’ve just passed the plateau in the Trump Business Cycle. I really hope it doesn’t end like most of his other artsy deals.
We must make millionaires understand by forcing them to volunteer to give NJ their money. They have too much and Phil Murphy needs it. He is a nice man and you can trust him.
He’s friends with Mikie Sherrill after all.
Who is the most corrupt amongst us? Who owns the govt? Why are we protecting these people and feeling bad for them? Do they feel bad when they are pushing the cost of society on you and your kids by dodging taxes? They feel bad when they ship your job away? They feel bad when they use you to pay for their sports stadiums or new corporate offices? They can’t even fund their own money machine, they have to rip off the taxpayer….enough said. Stop feeling bad for these people.
Libturd, seen crazy things done with ping pong balls. says:
May 31, 2019 at 8:59 am
“Plus, millionaires tax is just smart based on current dilemma.”
The current dilemma is that the government is disgustingly corrupt, mega-oversized, mainly a patronage mill and almost wholly unnecessary based on what I witness from them on a daily basis.
How about for every million raised by the millionaires tax, the government must cut their spending by one million?
..and Lib, Rocket Man executes high rankng officials who betrayed him at failed Trump meeting. I wonder if they are still in love?
In case anyone missed it:
https://www.cnbc.com/2019/05/30/retirees-are-fleeing-these-3-states-in-droves.html
Bystander,
those 100 outsourced jobs, how much less does it cost to hire them than if those were American FTEs based in the US and how does the quality of the offshore compare with domestic labor and if the quality is less, has anyone tried to quantify the cost of the inferior work?
The 12 employees that are in the same room as you, are they on visas and how much do they make compared to if they were US citizens?
Last one – if you look at the 5 biggest US banks, how many IT jobs have they offshored?
Yes, because you lack moral integrity and always look to cheat the others in the sytem. Don’t worry, everyone is like this, hence, why we have so many problems with corruption.
Amazing how great America could be if we only did the right thing instead of the wrong thing.
homeboken says:
May 31, 2019 at 7:49 am
Grim is right – My role is completely commission based and I could very easily structure my compensation to be as minimal as needed on a short-term basis and defer comp for years if I chose.
The Korean, Israeli, Iranian stuff doesn’t bother me so much. This tariff business does concern me greatly. The economy tends to work better when it moves up in an orderly fashion with way less disruptions. Not so well when the market looks like the tracks on Rolling Thunder.
People are fleeing New Jersey in droves and Murphy’s plan to stop the exodus is by raising massive taxes on them. And you guys thought Christie was bad. If Murphy was a Republican, he would have been impeached by now.
How’s the state bank, weed revenue and pension reform going for you all? To get to the fcukin city on NJ Transit this Summer, I have to take the damn ferry. Worst governor ever by leaps and bounds.
All I’ve witnessed so far is higher fuel taxes, higher sales taxes, sanctuary cities, higher minimum wage, paid sick days for babysitters and lots of gender sh1t that impact 3% of society. All of the big ticket items promised he’s renegged on. And the village idiot thinks he’s J-effin-K. It’s no wonder the Garden State is becoming the ghetto state. I may need to register that one. Sh1t would sell like hotcakes down in Belmar.
Pumpkin – You call it a cheat, I would ask you – If you are able to imagine it, how would you react with the idea that every $ you earn over X, will be taxed at 50%. How would it impact your desire to earn those marginal dollars?
The idea that the wealthy should contribute more just because it is “good for society” is nonsense. People simply do not think that way. Break it down to something more practical, playing to the guilt of wealthy people while running counter to economic instinct is useless.
Lib,
True. It is a part of his megalomania, thinking if he says it then must be true…and the red hat idiots back him, like Children of the Corn tortilla .
Trump will get reelected in a land slide.
Let’s keep this simple.
At the end of the day, how do we pay for society? Right now, we are skipping out on the bill and passing it down the line. We haven’t invested in infrastructure for decades, we let schools fall apart, and we gave a trillion dollar tax break to corporations.
So what is your idea? Everyone equally pays the bill even though 1% of the population is getting all the gains? How the f’k is that fair? Why is it wrong to ask the people living like gods to chip in and help the rest of society instead of hiding their money in offshore accounts? How is hidden money in offshore accounts helping the economy or any of us? They sure need that money when they let it sit in some offshore account..
At the end of the day, you said it, which rich individual actually pays the rate they are supposed to? They are experts at dodging it, hence, why the country is so much in debt. Stop feeling bad for these people, they don’t care about you or America.
homeboken says:
May 31, 2019 at 9:24 am
Pumpkin – You call it a cheat, I would ask you – If you are able to imagine it, how would you react with the idea that every $ you earn over X, will be taxed at 50%. How would it impact your desire to earn those marginal dollars?
The idea that the wealthy should contribute more just because it is “good for society” is nonsense. People simply do not think that way. Break it down to something more practical, playing to the guilt of wealthy people while running counter to economic instinct is useless.
“Children of the Corn tortilla”
Very good. Maybe we’ll print that on the back of the MAGA t-shirt.
Everyone equally pays the bill even though 1% of the population is getting all the gains? How the f’k is that fair?
1% is supplying 95% of the tax revenue. Is that fair enough?
Fast,
Tell the 1% to stop using the govt to protect their position. If they don’t want to pay 95% of the tax revenue, maybe they should let other people make some money too. It’s not rocket science. They lobby away their competition and ship jobs away in the name of profit, and then they have the nerve to cry they pay the majority of tax revenue….smh!
Corporations received a huge tax break….money they didn’t have. What did they do with it? Yup, gave it to themselves instead of giving their workers a bone. Tell you all that you need to know…
Who does Uber think they are Elon Musk? $1 billion loss this quarter…..
From sergeant to chief. Maybe we have too many departments. Just maybe.
https://www.nj.com/news/2019/05/jury-awards-18m-to-ex-cop-who-says-chief-made-gay-jokes-slammed-military-and-drew-pen!s-on-photo.html
…maybe they should let other people make some money too.
Who’s stopping anyone from starting a business or service? Who’s stopping anyone from getting a 2nd job? Or downsizing? Or investing? You should praise corporations for hiring you at all and then giving you benefits in any form whatsoever! Your worth on this planet is measured by the level of value you can provide.
Nomad,
I can tell you the facts – all mid to major corps in the Northeast have technology teams elsewhere. The impact is probably several hundred thousand tech jobs which could be done in NYC locally but now shared with India, Poland, South Am etc. My team members are mostly H1B and one H4. Two are process of getting green card. The others are trying but unsure if they will stay in US. They are working their asses off to get sponsorship (13 hours a day easy). In terms of pay, our solution arhcitect is really nice guy and has to manage multiple monthly releases across 7 applications. On top of that he has to get involved in crazy CTO projects like Cloud, Chatbot and all hot topics in tech. He makes probably 95K in CT. His son needs autism help and he simply can’t afford private help. In terms of rates, we constantly have H1B posts in our kitchen. A Software Engineer 2 with 5 years experience will get 90k at our bank in US location. Our offshore rate for Wipro developer is roughly 200/USD day. In the US or Europe, it would be 1200. We recently learned that perm rates in Pune are now cheaper than Wipro. Perm developer in Pune makes 45K a year USD. This is sick abuse of people and the labor system, pure and simple.
Pumpkin – See Fast’s comment above – Anyone can develop an idea and start a business. It seems that what you are asking for is for these business to be subsidized and for there to be zero risk. Let the poor people have a risk-free shot at becoming successful.
I am sorry but that is the most naive thing you have ever said (which is an accomplishment in and of itself). Economics is human nature and your proposal runs counter to every shred of evolution for the human species.
What do you guys think of this?
http://pathtoprogressnj.org/the-process/
Well besides the fact that it will never ever happen.
Fast,
I believe in making something of yourself. I’m doing it, but let’s not act like it’s easy. Plenty of businesses hold back innovation and block competition from taking their pie. Limited amount of opportunities for a large population. That’s the problem. Do not act like there are enough opportunities to go around.
Corporations beat you down every leg of the way. They will take you out through the courts by making you get caught up in expensive cases. They will lobby you to death. They will buy out the competition and smash whoever is left. They will create enormous barriers to competing with them, yet you claim it’s as easy as coming up with an idea and running with it…a lot more to it.
They will buy out the competition and smash whoever is left.
You mean to increase shareholder value and grow profits? Who woulda thunk it!
Do not act like there are enough opportunities to go around.
Opportunity is defined by the level of value you can provide.
Turd – looks to be pushing P3 lease back, a dream come true for Wall St. Give them the power of taxation or in this case tolls.
You would have to put a toll on every road to cover the 200 + Billion in unfunded liabilities.
Stop with the gloom……. the summer is looking GREAT!!!!
STATEWIDE – The next time you are in the dollar store – looking for something that is actually sold for a dollar – drown your frustrations with a nice cold one. That’s right, your local Family Dollar will soon be selling cheap booze, perhaps even for a buck, along with aisles of semi-worthless, foreign-made items that will soon be hitting a landfill near you. The company announced that 1,000 Family Dollar stores will be seeking liquor licenses, likely to spice up a chain that saw 390 stores close this year. So, enjoy that can of domestic swill. You earned it.
P3 (or public private partnership) is the definition of fascism.
Eddie,
We are very fluid with our definitions today.
Your worth on this planet is measured by the level of value you can provide.
Opportunity is defined by the level of value you can provide.
You just don’t get it.
Fast Eddie says:
May 31, 2019 at 10:53 am
They will buy out the competition and smash whoever is left.
You mean to increase shareholder value and grow profits? Who woulda thunk it!
Consolidated corporate power is keeping many products’ prices high and quality low, yet you cry about paying taxes. Do you understand this consolidated power is a tax on you and it’s worse than any tax the govt can put on you? Bow down to your lords…
A decade ago, 80 percent of Americans believed that a free market economy was the best economic system. Today, that number is 60 percent. Another recent poll shows that only 42 percent of millennials support capitalism.
So what happened? Why have so many people, both in the US and abroad, lost faith in capitalism?
Steven Pearlstein, a columnist for the Washington Post and public affairs professor at George Mason University, has a few answers. The primary reason is that the system has become too unstable: Wages are largely stagnant, and the income gap is so wide that the rich and the poor effectively live in different worlds. No surprise, then, that people are unhappy with the status quo.
Pearlstein’s new book, Can American Capitalism Survive?, chronicles the excesses of capitalism and shows how its ethical foundations have been shattered by a radical free market ideology — often referred to as “neoliberalism.” Capitalism isn’t dead, Pearlstein argues, but it has to be saved from itself before it’s too late.
I spoke to him about how we might do that, whether capitalism is even worth salvaging at this point, and why he thinks America needs a new social contract between business and society.
Ed,
You are correct but it is pure idealism that majority of population would open a business, let alone be successful at it. It is smallest sliver of those that try that make a living at it. My bros gf was smart, hard working highly successful commercial RE portfolio manager at some huge corps. She got canned in 2008 and decided to start gourmet food business. She worked harder and longer than ever to make it work. She lost a cool million and folded it last year after decade of losses. Now back doing portfolio mgt for state. The existential question is what kind of society do you want to live in, knowing that 95% will never get there. Lots of big corps have become tax and welfare queens expecting taxpayer to back their business- banks, auto, military. I don’t feel some big thank you is do when they have become quasi- govt depts. The whole system is about order and control of workers and society in order to avoid true political reform, not free markets. You can do well within confines of system but we support it while leaving those that can’t on the streets. That is not America. Some balance need to be restored.
Sean Illing
Why have so many people lost faith in capitalism?
Steven Pearlstein
The most obvious answer is that capitalism has left a lot of people behind in the last 30 years. Everyone can see that the top 1 percent, the top 10 percent, the top 20 percent, have captured most of the benefits of economic growth over the last 30 years, and the rest of the population has been marginalized.
Now, we all know this, but I wrote the book because I think there is a feeling even among those of us who didn’t get left behind that this system has become too unfair, too ruthless, and rewards too many of the things we think of as bad. The system offends the moral sensibilities even of people who are benefiting from it.
Sean Illing
I’m not so sure that the people at the top are starting to see it that way, but we’ll come back to that. First, tell me what went wrong in the 1970s and ’80s, when you say capitalism really started to go sideways.
Steven Pearlstein
Two things happened during the ’70s and ’80s. First, the American industrial economy lost its competitiveness. Neoliberal policies of global free trade and unregulated markets were embraced, and the US was suddenly facing competition from all over the globe.
So American companies, which had been so dominant in our own market and in foreign markets, started to lose their dominance, and they had to get leaner and meaner. They started behaving in different ways. They started sharing less profits with their employees and with shareholders and customers.
Eventually, that produced a revolt from shareholders, and in the mid-’80s we had the first of what were called “hostile takeovers,” in which people would come in and buy up large chunks of companies and threaten to take them over or out the executives if they didn’t put shareholders above all else.
The result of all this was that companies changed how they did business and completely embraced the idea that companies should be run to maximize shareholder value and nothing else. Obviously, that meant more money for executives and shareholders and less money for employees and customers.
This is the mentality that led us to the place we’re in now.
Sean Illing
I want to push you on what I think is an excessively sanguine view of capitalism. In the book, you imply that capitalism has gone off the rails, but I disagree. I’d argue that capitalism has evolved in precisely the way we should have expected it to evolve. The culture of norms and values that were supposed to check the excesses of capitalism has (predictably) been eroded by capitalism itself, and now it’s propelled entirely by greed.
You seem to think that capitalism can be saved from itself. What do you say to people who think it’s not salvageable, not morally legitimate, and in any case not worth salvaging?
Steven Pearlstein
The question is, is all of that endemic to capitalism? I don’t think so, because we see different kinds of capitalism in countries in, say, Northern Europe and in Germany. Some of that has to do with the rules and laws under which they operate, but a lot of it has to do with the norms of behavior. So capitalism doesn’t have to reach the point of ruthlessness like it has here and other places.
And one of the good things about capitalism is that it has self-correcting mechanisms, just as democracy has self-correcting mechanisms. The truth is that the outcome we have now, all of this tremendous inequality, is bad morally and economically. This is not a sustainable system, and if it keeps getting worse, we run the risk of a revolution.
So I don’t think capitalism is an inherently moral system or an inherently self-defeating system, but we have to ensure that it adapts when it veers too far into corruption and inequality. And that’s basically what I’m calling for in this book.
Now read that, and understand it, fast. We are heading towards a revolution if things don’t change. Too many people are pissed off and it doesn’t matter if you think they are wrong or lazy…..they are coming. So something needs to be done or we fix it the hard way.
Here is the link to the rest of the interview. He explains it as simple as can be….
https://www.vox.com/2019/1/2/18130630/american-capitalism-neoliberalism-steven-pearlstein
That’s Steve Sweeney/George Norcross
Compare to “New Direction New Jersey” (Phil Murphy). NJEA was recently exposed as a massive donor.
That’s the civil war going on in the NJ Democratic party today.
Libturd, can’t say I didn’t warn you. says:
May 31, 2019 at 10:28 am
What do you guys think of this?
http://pathtoprogressnj.org/the-process/
Well besides the fact that it will never ever happen.
10:57 …. in other words…
And there’s winners, and there’s losers
But they ain’t no big deal
‘Cause the simple man baby pays the thrills,
The bills and the pills that kill
One of the battles
https://www.insidernj.com/booed-catcalled-sweeney-ends-path-progress-event-without-question-session/
Like…. what a bummer…… I’m hungry…. I’m going to check the cupboard for some food…
https://www.apnews.com/eaea113eee94421789b24fcf047f6bae
Mikie Sherrill
There are serious and legitimate concerns about academic espionage at our universities. Today I am introducing the Securing American Science and Technology Act of 2019 with @RepAGonzalez, @JimLangevin, @RepStefanik, @RepEBJ, and @RepFrankLucas
Had no idea as to the level of IP theft. Some think the situation in China is best managed on the IP end of things and the Tariffs will do little to help. No idea if true.
https://news.aamc.org/research/article/combatting-undue-foreign-influence-us-research/?utm_source=twitter&utm_medium=aamctoday&utm_content=a1249b76-9f14-46c6-b95f-ae827a98b6b4
Bystander, thanks for the info.
Ian Noe … probably the best new artist I have heard . Ever.
Typical fair and balanced Vox “journalism”. A marxist and a soc1al1st talk about how to destroy the tiny bit of capitalism left in the world, while blaming it for the ills that their kind of thinking created. Like Chavez did.
Uber and Lyft will not be profitable until they move to phase 2 of their plan, elimination of human drivers and deployment of autonomous vehicles.
Realize, that autonomous vehicles can never exist in the hands of private citizens, because they create a new kind of liability issue. Who is liable for an accident? The owner or the manufacturer? It is impossible to sell a product where the manufacturer retains liability for damages surrounding daily use. It’s like Honda paying for the lawsuit when a drunk driver kills someone. Absurd, right? But realize that every autonomous vehicle on the road represents nearly unlimited liability to the manufacturer. No insurer would be counterparty to this.
Therefore, if manufacturers retain all liability, why not shift the model entirely away from automobile ownership? Nobody personally owns these cars, they are summoned, used, and on to the next ride. Now, they can be monetized to the point at which they are profitable enough to begin to cover the liability. A car can potentially be worth 100x as much as the current sticker price if it’s used/paid, on a per ride basis.
Now you understand why the Lyft and Uber model exist the way they do, it was to use human drivers temporarily as a way to establish market share.
Tesla can never sell an autonomous vehicle – just look at the number of accusations and potential lawsuits from idiots and their lawyers.
Getting sick of Murphy’s TV ad about how “millionaires like me” need to pay more taxes to fund “middle class” property tax breaks. Left out of the ad : millionaires in NJ already pay among the highest state income tax rates in the country of 8.97%.
Did you even read it? Where did they bash capitalism and say we need social!sm instead?
You can ignore the problems the article is addressing(live in your bubble), but be thankful people see the coming problem and are trying to do something about it before it’s too late.
No One says:
May 31, 2019 at 1:21 pm
Typical fair and balanced Vox “journalism”. A marxist and a soc1al1st talk about how to destroy the tiny bit of capitalism left in the world, while blaming it for the ills that their kind of thinking created. Like Chavez did.
No one,
Is this attacking capitalism or acknowledging a problem? Do you understand who runs our govt?
What’s weird, you think the govt attacks the rich? How the hell do you come to this conclusion?
“Sean Illing
I’ll circle back to the #MeToo comparison because I think it’s a bad one, but there are also legal and structural impediments here. We have a political system fueled by private money, which means that wealth translates to political influence, which in turn means the laws are increasingly rigged to benefit the people on top.
Steven Pearlstein
You make a very good point, and in the book I say the No. 1 thing we have to do is get money out of politics — and that will probably require a constitutional amendment. But you’re right: We can’t reform our economic system if we don’t reform our political financing system.
As it is now, we’re stuck in a vicious cycle in which concentration of wealth leads to concentration of political power, which leads to yet more concentration of wealth. And we know how this plays out in the long run — it leads to revolution. But we don’t have to get anywhere near that if we can make the changes we need to make now.
The Democratic Party will have to lead the way, and if they really want to do that, they need to put this at the top of their agenda and run on it. People out there are angry, and this will help them win. It’s a slam-dunk issue, really. People are as disgusted by what they’re seeing as you and I are.”
No one,
You see, you complain about having to pay higher taxes on income of a million or more a year on a progressive basis. For a good amount of the population, they are complaining about the 1% because they can’t put food on the table or a roof over their head, yet you are crying about paying a higher tax on money you really don’t need. You are out of touch with reality…
What I don’t get, why are you so quick to blast a govt worker that will never make a million or more a year. You call them greedy, yet celebrate the 1%. They did what they had to do to make their compensation. The gov’t worker is no different than the CEO. So if you don’t get mad at the ceo for rigging the game, how can you complain about a worker coming together to lobby the govt for better compensation, aren’t they doing exactly what the rich are doing?
I guess that makes me a hypocrite also for defending union workers. I just don’t see them as much of a problem as the 1% who are amassing insane fortunes at the expense of everyone else. So I back union workers for stepping up for themselves against the 1%. I respect that. They do something about it rather than complain and do nothing. They earned it.
Bystander,
The majority of business startups fail, the biggest being the restaurant business. And any business you create will consume your life. My father bought an old dump in Jersey City in the mid 60s, a bar that was a scene out of the living dead. He turned it into one of the best neighborhood spots when we sold in the late 90s. No guarantees that something will succeed or fail. I had and have no desire to start a business so I discovered that I can be a corporate leech, find ways to provide value and in return, receive a 401K match, live modestly and invest the extra.
My point is that no one should expect ANYONE to feel sorry for oneself or expect a helping hand. Equality, fair share, equal playing field are feel good soundbites for the meek and disgruntled. Is it all about money? Okay, then invest in shares, receive dividends and reinvest those. Get a 2nd job, pimp yourself, do anything to earn extra money and have it grow.
95% will never get there? Get where? And so what if big banks and corps are welfare queens, it’s not my concern. They give me a job, pay for most of my medical insurance and give me money each month to put in a 401K. What more should I expect? If that’s not enough then start cutting lawns. You want a shot at the most successful startup business? Open a car wash. Balance needs to be restored? Start a revolution! Yeah, this is America… competition is brutal. There is no such thing as balance, it’s called survival.
Of course people will own personal autonomous vehicles. It May be considered more of a luxury than a vehicle now but Plenty will have them.
If there is a manufacturer defect then they are liable which is no different than it is now.
I do agree on Uber/lyft. But if there only hope is a fully autonomous fleet then they are history. Uber will probably continue as a company and can become profitable when lyft collapses. They also have software up that could become quite valuable.
Fast Eddie,
After that last post, you can never complain about govt union workers. They are doing what they have to do to get ahead, which in your eyes is exactly what people should do, correct? They went out and did something about their compensation, right?….they formed a union and are better off for it. So they used the strength in numbers to get what they want, just like the rich use the strength of their capital to get what they want.
After that last post, you can never complain about govt union workers.
I was one for four years. I had to leave because my mind, soul and body were suffering from guilt and atrophy due to lack of stimulation. My hours were mostly spent reading newspapers.
Uber/Lyft are a perfect example of how difficult it is to compete these days. How many businesses are being destroyed by their model….how can you compete with a company losing millions? They have the money to outlast the competition, and once they run them all into the ground, there will only be them, and then they can charge what they need to be profitable.
What a joke the business world has become.
lol…have to still throw shots at union workers, huh? Can’t resist..
Fast Eddie says:
May 31, 2019 at 2:35 pm
After that last post, you can never complain about govt union workers.
I was one for four years. I had to leave because my mind, soul and body were suffering from guilt and atrophy due to lack of stimulation. My hours were mostly spent reading newspapers.
I read, and I can also interpret what they are saying using my brain. Everyone here is very sorry that’s beyond your grasp. Unlike you, I don’t make up stuff and put it in their mouths. In the into to the piece, Sean Illing clearly stated that he had a Marxist view of capitalism, says it’s morally illegitimate, and isn’t worth fixing. Pearlstein is an editorialist who says his book “is a critique of free market ideas”. Whatever you want to call even more unfree markets than we have today, it’s something other than capitalism. They blame capitalism for the fact that the government has so much control of the economy that people can pay politicians for favors. Sorry, that’s called interventionism and fascism. They blame global trade for declining living standards. Let’s see how they like it when they don’t have trade. They pretend that small amounts of deregulation in the 1970s and 1980s caused ills. Ok, let’s see how they like their shopping bills after going back to regulation of every interstate truck route with pricing controls. And let’s go back to rationing gas at the pump with price controls. The middle class will love it.
They are right that America has problems, they are dead wrong on the causes of past problems and the solutions required to improve things.
re: “Now you understand why the Lyft and Uber model exist the way they do”
They exist because of the way technology disruption moves money in the economy from one set of hands to another. No different than selling online vs brick and mortar, travel agents vs booking online, advertising that used to be in a newspaper or magazine or phone book to a search engine or renting a movie in a Blockbuster vs watching it stream via Netflix, or even taking a polaroid vs a smartphone picture. They deliver it immediately vs the old way of consuming services for money. The money no longer flows to the old way of service delivery and has moved into their new online delivery model.
Did Uber and Lyft invent a new market? Not really there were always cab and food delivery. Are they even really Disruptive? Sure they destroyed the existing models and changed the entire industry but will it improve and really be DISRUPTIVE as Grim says to autonomous cars and no more personal vehicle ownership? That remains to be seen. Just like the drone delivery, I am still waiting for that and the other things tech may never happen in our lifetime like AI.
I worked at a union shop for three years.
How it worked in practice:
“from each according to their ability, to each according to their seniority”
I jumped off that sinking ship when I realized it was a dead end, I’d accomplished and developed more in 3 years than most of the lifers ever would. But the union was insistent that bonuses and performance based pay was the work of the devil. The whole department started shrinking a few years after I left, and eventually got shut down. Most of those guys that had been there for over a decade had been ruined and could never compete in the real world outside of the union schedule.
I guess that’s the kind of world that the less able like Punkin thinks is “fair”. A world where some guy stuck at the “financial analyst” position for decades and keeps screwing up the accounts, and cannot even bother to get a CPA or figure out how NPV works, can get paid over $100k per year simply by showing up for work for a long time.
And you do the exact same thing with social!sm, blaming the ills of human nature on the economic system. Can we finally agree that economic systems are not the problem and human nature is?
The answer is in between your position and mine. Moderation is key. Unfortunately, a bunch of extremists can’t accept a moderate form of capitalism or social!sm. So we end up with the same result over and over…
“They blame capitalism for the fact that the government has so much control of the economy that people can pay politicians for favors. Sorry, that’s called interventionism and fascism. They blame global trade for declining living standards. Let’s see how they like it when they don’t have trade. They pretend that small amounts of deregulation in the 1970s and 1980s caused ills. Ok, let’s see how they like their shopping bills after going back to regulation of every interstate truck route with pricing controls. And let’s go back to rationing gas at the pump with price controls. The middle class will love it.
They are right that America has problems, they are dead wrong on the causes of past problems and the solutions required to improve things.”
Pro sports are made up of unions….how come your assumptions don’t apply? Look at how they compete.
I know plenty of hardworking union guys that serve a purpose and earn their money. I don’t know how unions used to be run, but they are not run like that now. You don’t get to sit there and not work. Who in their right mind would allow that? Yes, you get to come to work, get paid, and do nothing….sure!
I worked for the union at the post office, and the job was not easy. I did not get to sit on my a$$ and do nothing. No idea where you people get this crap from. Especially with how tight state budgets and companies are, you think they are going to let people get paid while doing nothing? WTF?!
No One says:
May 31, 2019 at 3:12 pm
I worked at a union shop for three years.
How it worked in practice:
“from each according to their ability, to each according to their seniority”
I jumped off that sinking ship when I realized it was a dead end, I’d accomplished and developed more in 3 years than most of the lifers ever would. But the union was insistent that bonuses and performance based pay was the work of the devil. The whole department started shrinking a few years after I left, and eventually got shut down. Most of those guys that had been there for over a decade had been ruined and could never compete in the real world outside of the union schedule.
I guess that’s the kind of world that the less able like Punkin thinks is “fair”. A world where some guy stuck at the “financial analyst” position for decades and keeps screwing up the accounts, and cannot even bother to get a CPA or figure out how NPV works, can get paid over $100k per year simply by showing up for work for a long time.
Ed,
But you understand that our ancenstors has to die and suffer,working to the bone to get you a healthcare, 401k and vacaction, right? Any economic system has a period where imbalance exists and people must fight to change it. Personally, I think it is horrendous that expecting mothers get basically no paid time off. That is pretty savage. I recall you had a pretty brutal job hunt years back. I came off a brutal one last year. Sure, I am thankful for have a job but I also recognize why it become to freaking hard to get a decent one. My old company threw me off healthcare at month end after my departure so full premum for me. With a family, 2 young kids, that is a crazy nut to swallow with only 6 weeks severance and 470/week unemployment. Without savings, it is game against time and desparation. I have seen many many people have to settle for less and slip between cracks. Punish companies hiring immigrants, limit visa program and penalize offshoring then you restore some leverage to work force. This is not about just stocks and dividends. Read grim’s analysis from yesterday on offshoring. Opportunities are being lost (jobs gone for good) and our economic system can’t simply keep sucking it up.
11:39…
There’s a white man with a white kid
Living in a white neighborhood
He’s got an interstate running’ through his front yard
You know, he thinks Ping Pong’s not good
And there’s a woman in the kitchen cleaning’ up evening slop
And he looks at her and says:
“Hey darling, I can remember when you were a hot Polack”
Oh but ain’t that America, for you and me
Ain’t that America, I lie as I please baby
Ain’t that America, I got me three degrees, yeah
Wage Inflation for you and me, oh for you and me
Well there’s a dropout in a T-shirt
Listenin’ to a Polka station
He’s got dropout hair, a dropout smile
He says: “Lord, the post office is my destination”
‘Cause they told me, when I was younger
Sayin’ “Boy, you’re gonna be dumb as f.uck”
But my Nana took pity on me, gave me a house
That was a stroke of luck!
Oh but ain’t that America, for you and me
Ain’t that America, we’re something to see baby
Ain’t that America, bought my house turn-key, yeah
Pancake in a can for you and me, oh baby for you and me
Well there’s people and more people
What do they know, know, know
Got nice big houses in Bergen County
And vacation down at the Gulf of Mexico
Ooo yeah
And there’s winners, and there’s losers
My street’s unsafe, no kids’ big wheels
‘Cause the simple man baby has the chills, ADD pills,
And the Wayne Tax bills that kill
Oh but ain’t that America, for you and me
Ain’t that America, hey we’re something to see baby
Ain’t that America, my sewer repair wasn’t free, yeah
Wage Inflation for you and me, ooo, ooo yeah
Ain’t that America, for you and me
Ain’t that America, hey I lie as I please baby
Ain’t that America, I got me three degrees
Yeah yeah yeah yeah yeah yeah yeah
Pancake in a can for you and me, ooo yeah ooo yeah
I learned me a new one……. LGBTQIA+
They made it cheaper, but at what cost? They are losing money, so the current price isn’t even real. In the end, what did society really gain?
Are there any long term successful Lyft or Uber drivers? Or do they suck up desperate people and spit them out? I don’t know how a driver can come out financially ahead when you factor the cost of the car. So I’m assuming the model uses a revolving door of new drivers till they realize they are actually losing money being a lyft driver. Then a new one signs up to replace the next. How long can this go on before they run out of lemmings?
“Did Uber and Lyft invent a new market? Not really there were always cab and food delivery. Are they even really Disruptive? Sure they destroyed the existing models and changed the entire industry but will it improve and really be DISRUPTIVE as Grim says to autonomous cars and no more personal vehicle ownership? That remains to be seen. Just like the drone delivery, I am still waiting for that and the other things tech may never happen in our lifetime like AI.”
What does IA+ mean? In a$$ plus-sized?
https://en.m.wikipedia.org/wiki/LGBT#Other_variants
Njrereport,
Let’s go!!
“Ted Cruz And Alexandria Ocasio-Cortez Team Up To Ban Lawmakers From Lobbying”
https://apple.news/AoKbDotpfTvuC_7r8Mn-4Mw
Trump did that with his staff 2.5 years ago.
Njrereport,
Let’s go!!
“Ted Cruz And Alexandria Ocasio-Cortez Team Up To Ban Lawmakers From Lobbying”
I am elaborating the steps I went through to create this grademiners review so you would know how hard I have tried to finally form my perspective on this website. It took a pretty long and thoughtfully constructed exercise to be able to come up with a review worth reading and believing.
I don’t understand.
If I’m in my autonomous vehicle.
And it plows down a 3 year old on the sidewalk.
Who is responsible? Me or the manufacturer?
The most likely reason it has not passed. Puts police out of work in nj. They clearly are making a living off it.
https://www.nj.com/marijuana/2019/05/nj-still-arrests-more-people-for-pot-than-almost-any-other-state-a-lot-more.html
Grim – criminal or civil? I can imagine a tax or fee to create a pool of money to cover payouts do to unforseen accidents such as little Jimmy running out into the street and getting mowed down. In that last Wolverine movie the autonomous driving trucks (no cab only trailer hauling ass), did not stop for man or in the case of the movie horse.
Pumps – there are peiople that belive marijuana is a gateway drug, and it is bad for you long term. Then there are politician who just want their taste. THE local PD is covered by porperty tax, no marijuana arrests means they have more timefor DUI stops.
I know plenty of hardworking union guys that serve a purpose and earn their money. I don’t know how unions used to be run, but they are not run like that now. You don’t get to sit there and not work. Who in their right mind would allow that? Yes, you get to come to work, get paid, and do nothing….sure!
We needed a pipe covered up at our lab at Rutgers. It was about 3 ft from the ground. Simple drywall job that should take one day. A union guy came in, sat in the office, left for lunch, came back until 3:30. He repeated this for 3 weeks. Finally, we got sick of it, my friend and I went to Home Depot and finished the job in 90 minutes flat on a Saturday. When the guy came in on Monday, he reported us for doing the work. He was planning on dragging a 1 day job out to a month. We then got a visit from an administrator threatening legal action if we do any more work on the lab.
Get rid of unions. Get rid of their monopoly. Get rid of highway houses.
My late Father in Law was a union carpenter he could not unplug a lamp had to wait for the electrician to do it as it would be against United n rules.
Legal pot – as it has been out West – is now part of the economy.
It takes something fairly innocuous and creates opportunities for entrepreneurs and small business people. It also creates a more “just” culture.
Unions? Unfortunately if you offer some folks ‘job security’ in the form of tenure and seniority, they just might abuse it. Otherwise collective bargaining has helped move workers’ rights forward. With about 7% of the workforce unionized – its a rarity. I’m grateful for it and have reaped the benefits.
I know plenty of teachers who did 30 plus years in the system in NJ and their pensions are more now than their regular take home pay which was six figures. Think about it for a second. Pretty impressive you just have to do the time. Most of these folks started teaching when they were just out of college. But no stock options…. No “big” bonuses except that nice fat check for sick days when they finally leave.
Compared to the money wasted on coaches at that school this drywall guy was a bargain.
“Blue Ribbon Teacher says:
June 1, 2019 at 3:03 pm
I know plenty of hardworking union guys that serve a purpose and earn their money. I don’t know how unions used to be run, but they are not run like that now. You don’t get to sit there and not work. Who in their right mind would allow that? Yes, you get to come to work, get paid, and do nothing….sure!
We needed a pipe covered up at our lab at Rutgers. It was about 3 ft from the ground. Simple drywall job that should take one day. A union guy came in, sat in the office, left for lunch, came back until 3:30. He repeated this for 3 weeks. Finally, we got sick of it, my friend and I went to Home Depot and finished the job in 90 minutes flat on a Saturday. When the guy came in on Monday, he reported us for doing the work. He was planning on dragging a 1 day job out to a month. We then got a visit from an administrator threatening legal action if we do any more work on the lab.”
https://www.nj.com/education/2018/08/rutgers_golden_parachutes_top_11_million_see_the_c.html