Frat House Bordello

From the LA Times:

Foreclosure auction of Nicolas Cage’s mansion is a flop

Nicolas Cage is leaving Bel-Air. And not by choice.

The fate of the sprawling Tudor mansion owned by the actor, who won an Oscar for his role in “Leaving Las Vegas,” was decided Wednesday far from the baronial estate.

It was up for auction Wednesday morning — along with a handful of other foreclosed properties — on the steps of the county courthouse in Pomona.

After a rapid-fire spiel by the auctioneer, the bidding was opened at $10.4 million, far less than the $35 million that Cage had tried unsuccessfully to sell the house for.

To put it mildly, the house, though impressive, was not to everyone’s taste. Real estate agent Bret Parsons, who toured it most recently in October, described the interiors as “fascinating and bizarre.”

“The design was ‘frat house bordello,’ ” Parsons said. “There must have been 300 comic book covers elaborately framed and hanging on the walls.”

Model train sets on raised tracks a couple feet below the ceiling circled the inside of the breakfast room and two bedrooms.

There were also no takers in the courthouse sale, and in less than a minute the auction closed, with ownership reverting to the foreclosing lender — just one of six holding a total of $18 million in loans on the property.

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891 Responses to Frat House Bordello

  1. grim says:

    Abercrombie same store sales up 5%.

    In 5 weeks, up 19%.

    Recession over, done. Move along.

  2. grim says:

    From MSNBC:

    Homebuyers scramble as mortgage rates rise

    The era of record-low mortgage rates is over.

    The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market — a threat to the fragile recovery in the housing market.

    And if you wanted to refinance at a super-low rate, you may have missed your chance. Mortgages under 4 percent are still available, but only for loans that reset in five or seven years, probably to higher rates.

    “We are seeing some panic among potential buyers who have not found houses yet,” said Craig Strent, co-founder of Apex Home Loans in Bethesda, Md. “They’re saying: Man, I should have found a house three weeks ago or last month when rates are lower.”

  3. grim says:

    From the Daily Record:

    Atlantic faces busy hurricane season

    The Atlantic basin is facing a busier-than-usual hurricane season, in part because of record warm water in the ocean, according to the latest hurricane forecast.

    Colorado State University’s forecast, released Wednesday, calls for 15 named tropical storms this year in the Atlantic basin, which includes the Carribean and Gulf of Mexico. The team said eight will become hurricanes, with sustained winds reaching 74 mph. Four are expected to be major hurricanes – Categories 3, 4 or 5 – with maximum wind speeds of 111 mph or greater.

    The average Atlantic hurricane season, going back to 1950, has 10 named storms – six of them hurricanes, and two of those major.

    “The probability of a major hurricane making landfall along the U.S. coastline is 69 percent, compared with the last-century average of 52 percent,” said William Gray, a member of Colorado State’s Tropical Meteorology Project.

  4. serenity now says:

    RE#1 &#3
    Guess I better get over to Abercrombie and
    get some hurricane gear!
    Nothing like a natural disaster to stir up business!

  5. jamil says:

    recession over

  6. grim says:

    You fit into Abercrombie?

    God blessed you.

    I look like a kielbasa in a triple XL.

  7. gary says:

    The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market — a threat to the fragile recovery in the housing market.

    Again, for the f*cking id1ots, affordibility does not correspond to rates or the ability to borrow money. It’s all about price. If you want to see a recovery, let the market correct itself. For North Jersey, another 15% off the median will bring us close to the long term trend. This blog knows it but 99% of the outside world still can’t grasp the concept basics. I guess a little intelligence and some common sense can go a loooooong way. Oh well, f*ck them and hooray for us.

  8. Mr Hyde says:

    Grim,

    You dont fit into abecrombie?.?.?.

  9. Mr Hyde says:

    Doom

    another for your death watch:

    Illinois

    Barack Obama’s home state of Illinois is near the point of fiscal disintegration. “The state is in utter crisis,” said Representative Suzie Bassi. “We are next to bankruptcy. We have a $13bn hole in a $28bn budget.”

    The state has been paying bills with unfunded vouchers since October. A fifth of buses have stopped. Libraries, owed $400m (£263m), are closing one day a week. Schools are owed $725m. Unable to pay teachers, they are preparing mass lay-offs. “It’s a catastrophe”, said the Schools Superintedent.

    In Alexander County, the sheriff’s patrol cars have been repossessed; three-quarters of his officers are laid off; the local prison has refused to take county inmates until debts are paid.

    http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7338857/Dont-go-wobbly-on-us-now-Ben-Bernanke.html

  10. Final Doom says:

    How’d you like to be the bank holding a fifth or sixth mortgage on one of Nicholas Cage’s houses?

    Your chances of success would be greater if you were facing a firing squad.

  11. Final Doom says:

    Can you imagine being the loan officer who approved a fifth or sixth mortgage for Nicholas Cage?

  12. Final Doom says:

    I’d imagine that loan officer is now purveying Happy Meals.

  13. Final Doom says:

    grim (6)-

    Keep in mind that not anyone can rock the chest hair like you.

  14. gary says:

    I saw a piece on the news last night and the lead in before the commercial was, “brisk house sales for one community, is the housing market in full swing?” I waited ’till after the commercial to see the clip. It was in Bridgeton, Connecticut; every house for sale was a foreclosure and it was in a war zone. Houses were selling for around 35K and “investors” were going to fix them up and rent them. There’s the proof [insert sarcasm] of your housing recovery. :o

  15. Final Doom says:

    Hyde (9)-

    Meh to the Illinois vouchers. It can’t be that bad; there’s no resale market for them yet at EBay

  16. d2b says:

    I would like to buy some small business that my wife can run on the side. I’m thinking that I would scrape together a down payment and then have the owner finance a little bit. My question, is there a way to build into the sales agreement a clause that would adjust the price if the business failed to perform in the way that the previous owner promised? Has anyone ever heard of this?

  17. Mr. Sig says:

    Yes no doubt that the last recession is over. It’s the next recession that I’m worried about.

  18. Nomad says:

    #9 – Doom

    IL is just the start. We all know about NJ. Later this summer, CA et al.

    People keep telling me, put it all into munis and reduce the tax liability. I respond with are you sure these muni’s have the financial wherewithall to sustain the hit they are about to take. “No worries, they are insured” – and then I just thank them for their input and perspective.

  19. You dont fit into abecrombie?

    I may have to stop in now. Since I switched to running on a treadmill I’ve lost another waist size. Getting very hard to find clothes that fit properly.

  20. Dissident HEHEHE says:

    Ambercrombie, Bananna Republic, Hugo Boss, I can wear it all even the slim fit. Unlike, to quote the late Ric Rude, “you fat out, out of shape, low life sleaze bags”:)

  21. Dissident HEHEHE says:

    It All Makes Sense
    I’ve been somewhat perplexed by how well consumer spending has held up, at least on a relative basis, given that 1) “underemployment” is above 20 percent and the number of long-term employed is at a record; 2) income has not kept pace with consumption; and, 3) the housing industry is nowhere near a recovery (and the foreclosures just keep on coming).

    No doubt the government has played an important role in underpinning demand, especially through its emergency unemployment benefits programs and certain other stimulus efforts. But that didn’t seem to explain matters fully.

    Then I read the following post, “How Obama’s ‘Extend & Pretend’ Mortgage Policy Explains The Apparent Disconnect Between Housing And The Consumer,” at Business Insider’s The Money Game (citing the excellent HousingWire blog) and, suddenly, it all made sense. The reason why no small number of Americans can afford to keep on spending is because they’ve got one less (big) bill to pay:

    http://www.financialarmageddon.com/2010/04/it-makes-sense.html

  22. frank says:

    Hoboken market on fire this week. 11UC, just look at the prices.
    Where’s the recession??

    http://hudson.fnismls.com/publink/default.aspx?GUID=74f24be5-f821-42f9-a2c4-8b1d7ca277ab&Report=Yes

  23. SG says:

    Not sure if this was posted earlier or not.

    Trust, Underwater

    It turned out that IndyMac, one of the most notorious predatory lenders of the era, had offered her a subprime, no-money-down, interest-only, stated-income, adjustable-rate loan – in other words, a pile of what seemed like free money. As Grace, a nonnative speaker, recalled it, the man at the bank appeared to be saying, ‘‘Congratulations, you’ve won a house!” And since all the people around her seemed to be scoring their own piece of real estate, nothing about this struck her as preposterous. Only now the loan was eating up something like 75 percent of her income, and the rate on her second trust was about to double, and she didn’t how she could continue to keep up with the payments. She hadn’t understood that her house could plummet in value while the interest rate on her loan soared toward oblivion. No one ever explained that part.

    And now to the other emotions this mortgage process had provoked in me — self-doubt, persecution, self-righteousness — I had to add some amount of shame, as well. I had been blaming other, less conscientious borrowers for our predicament, but of course Grace hadn’t been greedy. She had been duped by a guy in a suit, even if she should have asked more questions than she did. And now when I called brokers to check the rates or float some new financing idea, I found myself seething. It wasn’t that they wouldn’t lend me all the money I wanted – it was the utter sobriety they seemed bent on projecting, the way I could almost hear their shirt collars rustle as they knowingly shook their heads at me across the telephone line. After all, I reasoned, they were the ones who had gone and exploded a yawing hole in the American economy, not me or Grace, by pushing on unqualified buyers the kinds of gimmicks the brokers barely understood themselves. And yet, the bankers seemed to regard themselves now as passive casualties in our national train wreck.

  24. Dissident HEHEHE says:

    This one is for all of you Pennsylvania residents:

    http://www.youtube.com/watch?v=7__oBSllr7U

    Hit the music!

  25. Cindy says:

    http://www.calculatedriskblog.com/2010/04/report-bofa-to-increase-foreclosures.html

    Could this be true?

    BofA to increase foreclosure rate by 600% in 2010

  26. hughesrep says:

    Yokes

    Re propane from yesterday.

    I did summers for a propane supplier in high school in the midwest. The only tanks were buried were huge, for industrial app’s.

    I have two 100 gallon propane tanks to heat my pool, they are maybe 3′ diameter, 5′ tall. I hid them with a trellis, they are in a corner next to a fence. I can’t imagine a hot tub would need more than one 100 gallon tank? Dpends upon the heater BTU’s and how often you run it.

    I just sold off my hot tub. I figured it cost me $100 month to keep it running to filter the water daily and heat (electric) a couple of times a month.

  27. SG says:

    Four Seasons Maui Delinquent on Mortgage

    MSD Capital LP, the private investment firm of Dell Inc. founder Michael Dell and his family, skipped the February payment on the debt as it seeks to restructure the loan, according to credit-rating company Realpoint LLC. The 380-room hotel’s debt is split between two securitized mortgages, one of $250 million and one of $175 million.

    The Four Seasons Maui has struggled in the past year along with most luxury hotels in Hawaii. Its occupancy fell to 60% in last year’s third quarter from 79% a year earlier, according to Realpoint. Its net cash flow declined from $32.9 million in 2007 to $10.9 million in the first three quarters of 2009.

    Meanwhile, Beanie Baby tycoon Ty Warner’s Ty Warner Hotels and Resorts reached a deal last week to extend by two years its mortgage on several resorts, including the 368-room Four Seasons New York, according to a person familiar with the talks. The mortgage had come due last January, but the four resorts pledged as collateral for the loan weren’t generating enough cash flow to qualify for an extension.

  28. hughesrep says:

    27

    to Yikes. Were=we. Dpends=depends.

    hughesrep=more coffee.

  29. Cindy says:

    http://www.thefiscaltimes.com/Issues/Taxes/2010/04/07/Financially-Strapped-States-Turn-to-Unorthodox-Taxes.aspx

    Under humor: Nine Craziest Tax Laws You Don’t Know

    Just live to be 100 and move to New Mexico….

  30. SG says:

    Study: 1.2 million households lost to recession

    So it’s likely that the full impact of the 8.4 million jobs lost and nearly three million homes foreclosed on since the recession began has taken an even bigger toll on the number of American households.

    “Given the depth of the downturn in 2009, and the ongoing weakness in the job market through the beginning of this year, this study gives no reason to expect that household formation has picked up at all,” said Gary Painter, a professor at the University of Southern California who conducted the study.

    The study also shed some light on what happens to the people in those “lost” households. It’s widely assumed that many who lose a home to foreclosure become renters. But since the recession began, there has been a five-fold increase in “overcrowding” of remaining households — defined as more than one person per room, according to the study.

    That doubling-up is happening as families who lose their homes move in with friends or family. In other cases, younger people have delayed moving out on their own, instead staying with their parents until the economy improves. Others who fail to find work after graduating from college move back home.

  31. John says:

    CHIFI AMBAC UP AGAIN. Where did you get your degree again?

    Just bustin. BTW some GMAC and American General Bonds are trading over par today and even for me that is funny stuff.

    PLEASE MR. President stop the 8k Rebate and buying back MBS and let 30 year mortgage rise to 8. When that happens I am home buying baby.

  32. frank says:

    Abercrombie same store sales up 5%.

    Line to the store is down the block, sales are strong.

  33. Cindy says:

    http://www.mcclatchydc.com/2010/04/08/91805/bernanke-says-financial-crisis.html

    Let’s file this under humor too:

    Bernanke says financial crisis is “largely Behind us,” during Dallas talks..

  34. Final Doom says:

    North Korea and Robert Mugabe: perfect together.

    (ESPN, 4/7/10)– “North Korea will train in Zimbabwe before the World Cup, after they were the only one of five competing nations to accept a request from the Zimbabwean government to come to the country.

    Zimbabwe’s tourism minister Walter Mzembi said that a quintet of teams, including England and the United States, were asked to boost the tourism industry with a visit, but that only North Korea confirmed their stay.

    “Of the five countries that we are aiming to come to Zimbabwe, only North Korea have confirmed they will stay in Zimbabwe at the end of May before proceeding to South Africa for the World Cup tournament,” Mzembi told AP.

    Mzembi also claimed that Australia and five-time World Cup winners Brazil were asked to set up training camps in a bid to reach the “achievable target” of 100,000 tourists before and after the World Cup.

    Zimbabwe has been plagued by political violence and severe economic problems and is hoping to cash in on the continent’s success in hosting the tournament in South Africa, while North Korea, who last appeared at the World Cup in 1966, will enter the country on May 25.”

  35. Final Doom says:

    Wonder what the North Korea-Zimbabwe currency exchange rate is.

  36. Final Doom says:

    nomad (19)-

    Insured? Yeah, insured by Ambac…the same company whose nickname on WS is “the big shitpile”.

    “…these muni’s have the financial wherewithall to sustain the hit they are about to take. “No worries, they are insured”

  37. Simply Ravishing HEHEHE says:

    “PLEASE MR. President stop the 8k Rebate and buying back MBS and let 30 year mortgage rise to 8. When that happens I am home buying baby.”

    But my realtor said it’s time to buy is now and I can’t let this opportunity pass me by!

  38. homeboken says:

    From 2 “People are saying man, I should have found a house 3 weeks ago when rates were low”. Really?? Does any home buyer really think that? If so they have nowhere near he needed financial acumen to borrow money from a bank. The line should read “Sellers are saying “Man I should have lowered my ask and sold three weeks ago when rates were low, now the 2 people remotely interested in buying my place are dead in the water.”

  39. Final Doom says:

    Cindy (26)-

    Yes, it’s true. They seem to have made a very conscious decision to blow out all the Countrywide deadwood, either by short sale, DIL or FK. They’ve also used the resources acquired in the CFC takeover to streamline the process and systems.

    Something makes me think the old CFC guys who are still there convinced the BAC people that any bank looking for a chair when the music stops will be executed. The attitude seems to be that BAC is determined not to be a bagholder when it all blows up.

  40. safeashouses says:

    Thailand is joining the party too.

    “Protesters defy state of emergency in Bangkok”

    http://news.yahoo.com/s/ap/20100408/ap_on_re_as/as_thailand_politics

  41. safeashouses says:

    #41 That reminds me I had a friend tell me he was going to China for business. I asked him what city. He told me Bangkok. LMAO. He’s a fed employee to boot.

  42. Cindy says:

    40 – Clot Put that together with this

    http://gov.ca.gov/press-release/14712/

    and maybe we can move a few houses here in CA.

  43. Final Doom says:

    Screw this rate stuff. It’s about solvency, price, employment and buyer confidence (bwahahahaha). As we’ve discussed here ad nauseum, you can bring mortgage rates down to 1%, and nothing would change. Transfusing a cadaver does not bring it back to life.

    BTW, mortgage rates started coming down yesterday.

    Mark my words, we are moving into the next TPTB action: shanking equities to get a bid back under USTs.

    Sell in May, and go to hell.

  44. Final Doom says:

    Cindy (43)-

    Might as well shovel the money into an incinerator.

    I can assure you all the tax stim that is now- or will be- offered is simply throwing money away on the handful of people out there who were going to buy anyway.

  45. Final Doom says:

    safe (42)-

    Guy is probably a perv, looking for 10 y/o boys.

  46. John says:

    That place is best, have him ask for the “special” wake up call. For one dollar a day they send a girl up who lets herself into your room with the hotel key and wakes you up via rub and tug, my friend stayed 7 days, threw the guy at front desk ten bucks and said 7 days and make it 7 differnt girls. It is so civilized.

    safeashouses says:
    April 8, 2010 at 8:47 am
    #41 That reminds me I had a friend tell me he was going to China for business. I asked him what city. He told me Bangkok. LMAO. He’s a fed employee to boot

  47. safeashouses says:

    #46 Doom,

    Don’t think he’ll be getting any action over there. He likes zoftik blonde cougars. He prefers visiting the UK.

  48. Outofstater says:

    #40 So BofA dumps all their properties on the market to salvage something, anything, from the Countrywide debacle. The foreclosures blow out the comps which drives down the price of neighboring houses, which (should) mean less property tax revenue for municipalities. Towns cut back on services, more people are laid off which means more houses on the market which further drives down prices… Looks like a deflationary spiral to me. Nice.

  49. Libtard says:

    Jobless Claims
    Released on 4/8/2010 8:30:00 AM For wk4/3, 2010
    Prior Consensus Consensus Range Actual
    439 K 436 K 435 K to 450 K 460 K

    Ruh Roh

  50. veto that - Lawrence Yun 'The Panda' says:

    “The rule of thumb is that every 1 percentage point increase in mortgage rates reduces a buyer’s purchasing power by about 10 percent.”

    For every 1% increase in rates, prices come down about 10%.

    So mortgage rates at 7% would create another 20% drop in prices.

  51. safeashouses says:

    Taiwan’s doofus in chief.

    “Taiwan ruler Ma Ying-jeou passed Harvard Law School despite thesis with 1000+ errors”

    http://www.examiner.com/x-1969-Boston-Progressive-Examiner~y2009m3d5-Taiwan-President-Ma-Yingjeou-passed-Harvard-Law-School-despite-thesis-with-1000-errors

    This guy is a smooth talker, no substance, kisses up to China.

  52. Barbara says:

    8% would get us to around 2001 prices.

  53. Libtard says:

    Frank:

    Abercrombie is down over 4% in pre-market trading on your wonderful observation. Perhaps that line is made up of customers doing returns before the impending bankruptcy.

  54. Final Doom says:

    stater (49)-

    One way or another, we get a depression. Either we do it quickly and try to get past it…or we go Japanese, and turn it into a multi-generational, slo-mo train wreck.

  55. freedy says:

    as far as Bank of America : remember size does matter

  56. safeashouses says:

    #47 john

    I knew that post would get a comment from John

  57. Final Doom says:

    Another good substitute for Ipecac:

    Watch Bob Rubin’s testimony in front of Congress today.

  58. Painhrtz says:

    Safe with obligatory John story, John bond trader, $ex Panther wearer, “it works 66% of the time 100% of the time”

  59. Mr Hyde says:

    Stater, Doom

    Re BOA blowout,

    It would appear that the first bank to do this will be the winner, as the first bank to dump their nonperforming loans is going to crush comps. anyone who comes to the party after that will only get a fraction of what the first bank to the game gets.

  60. Mr Hyde says:

    Cobbler, yikes

    from yesterday Re propane tanks.

    I cant speak to local regulations, but you dont have to dig up a tank in general to do hydrostatic testing. You can charge it with an inert gas and verify it holds pressure over a given period of time, what even the regulations state. No need to excavate a tank for that.

  61. John says:

    Bond of the day – As Clint said “well do you feel lucky today, Punk?”

    MBIA INC BONDS 5.700% 12/01/2034 MAKE WHOLE
    Price (Ask) 54.750
    Yield to Worst (Ask) 11.097%
    172967BU4

  62. Final Doom says:

    Bank run beginning in Greece.

  63. Outofstater says:

    Interactive fun where you get to be Gov. Christie balancing the budget.
    http://php.app.com/datauniverse/budgetcalc2010/

  64. Al "The Thermostat" Gore says:

    18.

    Well said.

  65. Final Doom says:

    John (62)-

    I’d rather take a donkey punch, but thanks for caring.

  66. veto that - Lawrence Yun 'The Panda' says:

    HONG KONG — The Chinese government is very close to announcing a revision of its currency policy in the coming days that will allow greater variation in the value of its currency combined with a small but immediate jump in its value against the dollar.

    Economists said that the emerging consensus in China reflected a broad assessment by Chinese leaders that inaction on the currency could be as dangerous as holding on to the current value of the currency.

  67. NJGator says:

    Murder-free streak ends in Newark

    NEWARK (AP) – Gunfire signaled the end to the first murder-free month in New Jersey’s largest city in more than 40 years.

    Police in Newark say Bloomfield resident Khalil Hamlette, 26, was shot in the head Wednesday and died.

    The slaying was the city’s first in 37 days and is the 11th for the year.

    March was the first time the city went through a calendar month without a murder since May 1966.

    Police say the suspect in Wednesday’s shooting fled the scene in a blue vehicle occupied by two other males. A motive for the shooting has not been determined.

    http://www.phillyburbs.com/news/news_details/article/92/2010/april/08/murder-free-streak-ends-in-newark.html

  68. Mr Hyde says:

    Doom,

    After Greece comes Spain, Portugal, and Ireland….

  69. Mr Hyde says:

    Question for the various guru’s

    How does reece discharge its debt? Its denominated in euro’s so it cant print its way out of the debt. I doubt any significant portion of it will be forgiven by the lenders. Greece looks like it is going to be a zombie nation.

    How long will its people accept national indentured servitude to that debt before they overthrow the government and refuse to pay it?

  70. Mr Hyde says:

    Question for the PA resdents on the blog…

    Are PA local and state gov as much of a racket as NJ is????

  71. veto that - Lawrence Yun 'The Panda' says:

    “8% would get us to around 2001 prices.”

    barb, yip. i agree.

    30% drop from jan 2010 puts the cs ny metro price index back to 11 which is oct 2000.

    oh geez. this is going to be fun.

    Assuming the banking sector survives that type of correction i couldn’t think of anything better for the long term health of the economy than that scenario.

  72. jamil says:

    70: “denominated in euro’s so it cant print its way out of the debt. ”

    Why not? One of the Euro banknote printing facilities is conveniently located in Athens.

    See http://en.wikipedia.org/wiki/Euro_banknotes

  73. Simply Ravishing HEHEHE says:

    Ket,

    They can always sell a few of the Greek Islands.

  74. Simply Ravishing HEHEHE says:

    They also have a bunch of antiquities. Maybe Soros would like to put the Parthenon in his backyard?

  75. Comrade Nom Deplume says:

    Tax News of the Day—

    Here’s the {proposed} bailout for flippers . . .

    “Heller Proposes Tax Incentives to Boost
    Home Sales in High-Foreclosure Areas

    Some taxpayers who sell nonprincipal residences located in high-foreclosure areas would receive a partial exclusion from capital gains taxes under legislation that Rep. Dean Heller (R-Nev.) introduced March 24.

    Specifically, the legislation (H.R. 4930) would exclude from capital gains taxes the first $50,000 ($100,000 for joint filers) on the sale of a nonprincipal residence if it is purchased in one of the top 200 high-foreclosure areas within one year of the bill’s enactment and was held for two years.

    The legislation would amend Section 121 of the Internal Revenue Code, which focuses on the exclusion of gain from the sale of principal residences. Included in the measure is language directing the Treasury Department to publish, within 60 days of enactment, a list of the “200 political subdivisions determined to have the highest foreclosure rates.”

    According to RealtyTrac’s 2009 year-end report on foreclosures, more than 10 percent of Nevada homes received at least one foreclosure filing in 2009, “giving it the nation’s highest state foreclosure rate for the third consecutive year.”

    The House Ways and Means Committee rejected the same language in mid-March when Heller offered it as an amendment to a small business tax bill (H.R. 4849) (51 DTR G-4, 3/18/10).

    “No state has been hit harder by the housing crisis than Nevada. The problem is one of supply and demand—simply too much housing inventory is available in many struggling areas, causing deep depression in prices,” Heller said March 17. “The first-time homebuyer tax credit has been helpful in reducing the supply of homes, but more needs to be done.”

  76. Comrade Nom Deplume says:

    [71] hyde

    In Philly, yes. In the hinterlands, not so much.

  77. joyce says:

    (49)
    Yes, hopefully the deflation does happen. But it won’t spiral down to zero, it will go down until prices are reasonable and then smart people with money saved will slowly re-enter. (might go down a little past where it will even out to eventually, the corrections usually follow that path)

  78. Anon E. Moose says:

    d2b[17];

    As they say, everything is negotiable. However I doubt you’d find an owner willing to enter into that sort of deal unless you are already overpaying for the business, and all he stands to lose is a premium built into the price. To achieve what you want you can structure it the other way around: he stays on for a year to 18 months helping her run and transition the business at an agreed salary; he gets set bonuses if the business hits the promised sales targets during that time.

    You can make the owner note non-recourse – if the business tanks you give it back and walk away.

  79. Mr Hyde says:

    Sorry of the delay of the charts i promised yesterday regarding food stamps (SNAP) and unemployment.

    One of the interesting trends in the data is that a simple extrapolation suggests that unemployment will peak somewhere around 2013-2014. The extrapolation is not rigorous and is a first run approximation. That would however produce a pattern very similar as to what was seen in 1980-82.

    Take a look at my previous unemployment projections (from june 09).

    http://www.scribd.com/full/20538016?access_key=key-1sdnmbw086vjndenuss

    Note on page 3 of 5 that we have already surpassed my low projection (p1) and are somewhere between my middle and high projections (p2) and (p3)

    Note the chart on page 5 of 5 and that my high projection fits in with the extrapolated trend from the SNAP/unemployment correlation.

    My high (p3)unemployment projection shows a peak in 2013 and the extrapolation of the SNAP trend suggests a peak in 2013-2014.

    2013 is probably a very sound estimate for peak unemployment at this point.

    In the linked charts note that peak unemployment occurs when the growth rate goes to 0, not when it begins to decrease.

    The linked projection was originally constructed in June 2009

  80. Comrade Nom Deplume says:

    [52] safe

    Sad. And I get grief from the ADHD/OCD partner here for apostrophes or quote marks that are in the wrong font.

    Really.

    And his degree was a JSD, which is highest law degree awarded. Almost no one has one, and it isn’t for practicing law (Harvard’s program is for aspiring law professors–I considered going).

  81. veto that - Lawrence Yun 'The Panda' says:

    Clot,
    I like that Governor budget Calculator.
    It really shows you how much it sux right now to be Christie.

    For example, if we cut all the state workers and stop funding pension completely it only saves $3B/yr.

    Complete removal of the Porperty Tax Rebate only saves $1.75B/Yr

    Those are draconian measures to say the least and still they barely fix half of the deficit.

  82. veto that - Lawrence Yun 'The Panda' says:

    72 – barb, “11” should be 111

  83. Comrade Nom Deplume says:

    [80] moose,

    Isn’t that a form of an earnout? Why not simply draft one of those? They are common enough.

  84. Anon E. Moose says:

    Re [71,78];

    You know what, if the taxes are low enough and the necessary services are passable, I really don’t care if they’re skimming the till.

    Look at it this way, I play nickel-dime-quarter online poker occasionally, even though I play higher limits in live action. I know full well that 2-3 geeks could sit at an online table and easily collude against me through AIM or just being in the same room. It’s not a given, just a distinct possiblity. And you know what: I don’t care. The most I stand to lose is $5 an hour, and if they want to divide that amongst themselves, they are misdirecting their talents to steal $1.67 or $2.50/hr each.

    So if I have a place in the hinterlands, and taxes are $4k a year, and the schools are gang-free and bus pickes up and drops off Graydon and Elorie on time, the roads get plowed and garbage gets picked up, all of which would cost me at least $12k a year in the beloved garden state, I really don’t care if town supervisor Bubba gets a new dualie truck with some means of support not readily apparent.

  85. Anon E. Moose says:

    Nom [85];

    Sure. I don’t practice in that area so I wasn’t aware of the term, but that’s exactly what I’m talking about.

  86. Mr Hyde says:

    Moose,

    getting very fed up with the NJ “Johnny the Weasel” methodology of government

  87. Comrade Nom Deplume says:

    I’ve been thinking about where the wealthy will start directing money in order to avoid Obamanomics.

    The first thing that comes to mind are investments that don’t throw off current income, but acts as a store of value. Gold obviously comes to mind, but so does real estate.

    And given the times and prospects for future taxes, I come back to a prediction made some time back: Foreign real estate and land in conservative US states will do well as it will attract investment from the “wealthy.”

    http://www.propertyshowrooms.com/cyprus/property/news/wealthy-investors-bolstering-distressed-property-markets_265688.html

  88. Comrade Nom Deplume says:

    [88] moose

    We do, and we employ earnouts all the time. Very common in small business sales now. Also, if properly done, it provides some tax benefits to the seller.

    It is also a strategic negotiating point to get a seller to reveal something about the business; if a buyer proposes an earnout and gets a lot of pushback from the seller, that is a big red flag.

  89. Anon E. Moose says:

    Ket[89];

    Concur, though for the foreseeable future I need proximity to Manhattan, despite my considerable efforts to locate elsewhere.

    I still think that the threshold is the issue. You don’t miss the blood a mosquito takes; a tick takes more; a vampire too much.

  90. Comrade Nom Deplume says:

    [17] d2b,

    See the replies from Moose and I. There is a common technique for doing precisely what you suggest.

    In fact, when there is an earnout, a former owner is usually eager to stay on to help as it insures that the business will make the earnout numbers.

  91. Comrade Nom Deplume says:

    [92] moose,

    If you are relocating to the hinterlands, consider the cost-benefit on a tax basis and cost basis. It may not be worth it if you work in Manhattan.

    We work in Jersey, so it makes a lot of sense for us to be PA residents, at least on paper.

    In reality, we may wind up in either Cali, Illinois, or Virginia in the near future, which makes the brigadoon house purchase quite foolish. And given that this was our third house purchase (4th for wife) in past 12 years, I have already said no more. If we move to any of these places, we rent indefinitely, and use the savings to finance a ski house.

  92. Sas3 says:

    njescapee … re Shore’s post on taxes by bottom 20% (or 47% as MSNBC says)

    If people that benefit from zero taxes will vote for the dems, you would see almost all teabaggers voting for the dems.

    An amusing anecdote yesterday on a flight. Some idiot was rude to stewardess — when she asked him to turn off his phone as the plane was taxing for takeoff. His response, after she told him to just shut it down, “now it is a free for all country, we all have free health care, it’s all going to dogs”. Some one who is “authentic american” should have kicked him in his bolls… a darker skin guy may get into trouble trying such a thing though.

    S

  93. Anon E. Moose says:

    Nom[94];

    Not sure I follow, but I gotta get back to work. Look forward to hearing more over a drink (or between shotgun rounds) at the next GTG.

  94. Sas3 says:

    Shore, in your tax argument, the low income people are paying FICA, sales tax, property tax (via rent or via owning). Since you have included those numbers when you talked about how high the tax rates are for you, you should include those for the lower income people too (FICA is also very regressive).

  95. Sas3 says:

    Nom, Hypothetical question… what would be the costs for the ACORN worker to sue Fox? Any risks?

  96. Comrade Nom Deplume says:

    Poor is the new black

    ” . . . In recent years, credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009, as long as there are two children younger than 17, according to a separate analysis by the consulting firm Deloitte Tax.

    Tax cuts enacted in the past decade have been generous to wealthy taxpayers, too, making them a target for President Barack Obama and Democrats in Congress. Less noticed were tax cuts for low- and middle-income families, which were expanded when Obama signed the massive economic recovery package last year.

    The result is a tax system that exempts almost half the country from paying for programs that benefit everyone, including national defense, public safety, infrastructure and education. It is a system in which the top 10 percent of earners — households making an average of $366,400 in 2006 — paid about 73 percent of the income taxes collected by the federal government.

    The bottom 40 percent, on average, make a profit from the federal income tax, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment.”

    So if I lose my job, here’s what I am telling the wife to do: She “moves in with Mom” in PA; we go to court to get a legal separation order; the order (which we will draft) includes nominal maintenance and requires her to make the mortgage payments, and I remain the “primary” custodial parent.

    That way, she gets to income-shift part of her salary (the maintenance) from high tax to low tax; the mortgage deduction is worth more because we avoid AMT; and we qualify for additional benefits so long as we keep the maintenance under a certain level.

    I really have to look into this; could be funemployment time!

  97. Mr Hyde says:

    SAS3

    you used to work for ACORN???

  98. Mr Hyde says:

    SAS3,

    which video were you on?

  99. veto that - Lawrence Yun 'The Panda' says:

    N.J. budget experts says state government in midst of “extraordinary and unprecedented” fiscal nightmare

    The New Jersey state government is in the midst of an “extraordinary and unprecedented’’ tax revenue decline and it could take until the second half of 2013 for its financial situation to return to where it was in 2008.

    State Treasurer Andrew Eristoff said Christie would not support an action by the Democratic-controlled Legislature to restore the so-called millionaires tax, an income tax surcharge on New Jerseyans who earn over $400,000 annually in order to provide $1.1 billion for the budget.
    “… the governor will not sign a budget that increases taxes,’’ Eristoff said. “To do so would break faith with the people of New Jersey — already the highest taxed in the nation — and undermine New Jersey’s economic competitiveness and job creation at a particularly vulnerable stage in the economic cycle. Besides, history teaches us that tax increases in New Jersey never close deficits, they simply fuel more spending. The cycle must and will stop now.’’

  100. njescapee says:

    sas3- why all the racial stuff? you seem to have some sort of issue. i was dems vs repubs push pull class warfare cr-p regarding use of taxes

  101. Comrade Nom Deplume says:

    [98] sastry

    Attorney fees and costs to start. I doubt any attorney will do this on contingency, except to get their name in the papers.

    There is a risk if the claim is deemed to be frivolous; then, under Rule 11, you are subject to sanctions, including having to pay Fox’s attorney fees. This almost NEVER happens though.

    As for the claim, however, to say that you are defamed because the video was edited is quite a stretch (you say doctored, but I think that there is a distinction between playing selected portions and altering them—also suggest you stop taking points from Rachel Maddow; makes you look like a liberal syncophant who cannot think for himself).

  102. Libtard says:

    N.J. among states with biggest increase in jobless claims
    Thursday, April 8, 2010
    Wire Service
    THE ASSOCIATED PRESS

    The Labor Department said Thursday that new claims for jobless benefits rose last week as jobs remain scarce and some companies continue to cut back.

    Here’s a look at the states with the biggest changes in initial jobless claims, and some of the reasons for the shifts. The state data is for the week ending March 27, one week behind the nationwide figures.

    States reporting the largest increases in claims:

    Texas: up 3,640, due to layoffs in the finance, services and manufacturing industries

    Oregon: up 2,412

    New Jersey: up 1,715, due to layoffs in construction, transportation, warehousing and manufacturing industries

    California: up 1,275

    States with the largest drops in claims:

    Michigan: down 2,240, due to fewer layoffs in the auto industry

    Illinois: down 1,872, due to fewer layoffs in construction and manufacturing

    Oklahoma: down 1,270

    Missouri: down 1,079, due to fewer job cuts in transportation and warehousing

    The Labor Department said Thursday that new claims for jobless benefits rose last week as jobs remain scarce and some companies continue to cut back.

    Here’s a look at the states with the biggest changes in initial jobless claims, and some of the reasons for the shifts. The state data is for the week ending March 27, one week behind the nationwide figures.

    States reporting the largest increases in claims:

    Texas: up 3,640, due to layoffs in the finance, services and manufacturing industries

    Oregon: up 2,412

    New Jersey: up 1,715, due to layoffs in construction, transportation, warehousing and manufacturing industries

    California: up 1,275

    States with the largest drops in claims:

    Michigan: down 2,240, due to fewer layoffs in the auto industry

    Illinois: down 1,872, due to fewer layoffs in construction and manufacturing

    Oklahoma: down 1,270

    Missouri: down 1,079, due to fewer job cuts in transportation and warehousing

  103. Comrade Nom Deplume says:

    [95] sastry

    “If people that benefit from zero taxes will vote for the dems, you would see almost all teabaggers voting for the dems.”

    An interesting conundrum, isn’t it? Obviously, these people are not voting in their pure, selfish, financial immediate interests.

    Ever consider why?

    And why is it, when a liberal advocates for things that are not in their own self-interest, they are altrustic, but if a conservative does it, he is deluded?

    If you give these things some thought, instead of getting all your worldview from MSNBC, you would see that these people are worried about the future, and about things other than this year’s tax bill.

    And you might even be worried about some of the same things.

  104. Simply Ravishing HEHEHE says:

    “We work in Jersey, so it makes a lot of sense for us to be PA residents, at least on paper.”

    http://www.youtube.com/watch?v=7__oBSllr7U

  105. Simply Ravishing HEHEHE says:

    I don’t know how they expect unemployment to stay under 10% with the coming municipal and state layoffs.

  106. Mr Hyde says:

    HEHE

    The state of NJ employees about 35% of the state. Cuts of any real size will jack up the unemployment rate. As a result the unemployment fund is going to turn into a financial blackhole. And dont forget about other various aid programs such as SNAP and WIC.

    It’s a nasty feedback loop. The more you cut the more you have to spend in aid. The state is already borrowing a fair amount of money from the federal government in order to cover its unemployment fund obligations. In theory the state has to pay back the federal government. In reality i am sure we will see some if not all of that loan get written off.

  107. bullrun says:

    In recent years, credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009,

    Lets not forget this poor family of four earning $50,000 are paying state,sales,unemployment,social security,medicare taxes.When set and done nothing is left on what remains after paying rent,car insurance,day care,car mortgage and staples.

  108. bullrun says:

    I maybe wrong.Government workers have seperate unempolyment benefits and are not collecting social security benefits same as the private sector.

  109. Jamal Van Jones says:

    When set and done nothing is left on what remains after paying rent,car insurance,day care,car mortgage and staples.

    They are just not working hard enough like the rest of the fine folks here. If only they read “Atlas Shrugged”, they wouldn’t be in such a mess. Fcukin parasites.

  110. Simply Ravishing HEHEHE says:

    “8% would get us to around 2001 prices.”

    Still get a chuckle out of that BusinessWeek article a couple months ago where some “expert” was saying only a fool wouldn’t but RE now with the rates so low. Like when the rates increase prices aren’t going to collapse.

  111. bullrun says:

    They are just not working hard enough like the rest of the fine folks here

    Let us say you are right.Who will do the $50,000 incomes of a family of 4.If everybody is on the $150,000 incomes.
    Besides if everybody is making $150,000 then it will be the $150,000 income is the new poor.There will always be opposite to balance the world.Poor=rich black=white up= down

  112. Simply Ravishing HEHEHE says:

    “In reality i am sure we will see some if not all of that loan get written off.”

    This is America, we don’t “write things off”. If we did that we might have an actual recovery and a shake up in the powers that be.

  113. Mr Hyde says:

    war = peace

  114. Mr Hyde says:

    Clot,

    I wonder what the odds of a Greek bank holiday are next week, perhaps a monday surprise

  115. Shore Guy says:

    Gator:

    Listening to what Montclair is doing it brings this scene to mind (the key part starts about 24 seconds in. It is from th Wire, so not good to listen to at work with people around):

    http://www.youtube.com/watch?v=QZnw6wuGBgk

    “when it came time for you to f(uk me . . . you were very gentle”

  116. Shore Guy says:

    Sastry,

    C’mon. FICA isn’t a tax, it is a pay was you go supplemental retirement plan, with a cap on whathigh earners can collect. If you want to eliminate social security, I am al in, as Mrs. Shore and I pay in way more than we will ever see. It worked when there were 20 workers per retiree. Now it is 2:1 and trending toward 1:1.

    There is nothng really regressive about FICA, as it is just a flat tax. My 5,000th earned dollar is taxed at the same rate ay anyone else’s 5,000th dollar.

  117. Shore Guy says:

    any

  118. John says:

    150K is the new poor. My nieces and nephews start at $50K out of college. For example my nephew started at 50K and his GF started at 50K. They both live at home for now so as a “couple” they make 100K with no expenses. They ain’t getting married but still as a couple they go on vacation, buy dinner, play tickets etc. That is a 21 year old couples salary.

    After 5-7 years in work force, one or two promotions they will easily be making 90K each. So 180K is a income of a 28 year couple. So 150K would be an very low couple income

    bullrun says:
    April 8, 2010 at 11:30 am
    They are just not working hard enough like the rest of the fine folks here

    Let us say you are right.Who will do the $50,000 incomes of a family of 4.If everybody is on the $150,000 incomes.
    Besides if everybody is making $150,000 then it will be the $150,000 income is the new poor.There will always be opposite to balance the world.Poor=rich black=white up= down

  119. Poser says:

    Why are people who are making $50,000 a year having 2 kids? I’m all for family and getting married and having kids, but unfortunately today’s cost of living can’t support a family of four on $50k, regardless of the part of the country one lives in.

  120. Shore Guy says:

    ““extraordinary and unprecedented” fiscal nightmare ”

    I thought that the “extraordinary and unprecedented fiscal nightmare” has been the out-of-control state spending the past 20 years.

  121. Shore Guy says:

    “Obviously, these people are not voting in their pure, selfish, financial immediate interests”

    This was the theme of the book: What’s the Matter with Kansas.

  122. Mr Hyde says:

    Poser,

    statistically speaking, the lower a families income the more children they are likely to have.

    Income and family size are inversely proportional.

    go ask a sociologist why.

  123. Final Doom says:

    hyde (81)-

    Love it. Surprised the BLS guys haven’t discovered your talent.

    Couple your ability with a pack of total lies, and you could do some real damage.

  124. Final Doom says:

    veto (83)-

    Because even the most draconian measures at the state level still leave NJ bum-fcuked, expect more shunting of the burden down to the municipalities. If your average blog geek here can figure it out in five minutes, you know Fatboy and his staff knew it the morning after the election.

    Cascading municipal defaults and BKs are about to become NJ’s state sport.

  125. bullrun says:

    Why are people who are making $50,000 a year having 2 kids?

    Tell that to the red neck farming,tending the cows,working for somebody else land.
    Wake up go to the city,get educated,you will make more money in the city.Let us buy all this low income jobs from China.That will solve our problem.

  126. Libtard says:

    “I thought that the “extraordinary and unprecedented fiscal nightmare” has been the out-of-control state spending the past 20 years.”

    And in some places the local spending as well.

    It’s really quite unbelievable that towns like mine can pass an 11% property tax increase to make up for the local revenue shortfall.

    We all like to b1tch and moan about why and who is responsible, but it’s all really a colossal waste of time. If the revenues drop then the budgets must drop with them. If they do not and you decide to raise taxes, then less money is available to support businesses which makes the cycle worse. Eventually, the only people left working will be in the public sector. And for how long?

  127. bullrun says:

    It’s really quite unbelievable that towns like mine can pass an 11% property tax increase to make up for the local revenue shortfall.

    Are they not putting the increase to a vote in May?

  128. John says:

    Cause Fu*cking is Free.

    Actutally the US Govt penalizes people in the US above a certain income limit and in AMT if they have children. The US Govt actually gives credits to people with zero income to have children. The US Govt also gives deductions to middle class to have kids. Bill Gates only has two kids. But a crack head ho has six.

    Just curious, what salary times age do you think makes you upper middle class and rich in BC.

    Is a salary of 5x age upper middle class and around 10x age rich the entry points for those two demographics in tony NJ towns.

    Mr Hyde says:
    April 8, 2010 at 11:49 am
    Poser,

    statistically speaking, the lower a families income the more children they are likely to have.

    Income and family size are inversely proportional.

    go ask a sociologist why.

  129. Shore Guy says:

    Stu,

    If I lived in Montclair, I would died from my head exploding while sittingin a city budget hearing.

  130. NJGator says:

    bullrun 130 – No information about the proposed budget was put out before the meeting. So no one who actually attended could comment intelligently on the proposal. The council approved it last night. Municipal budgets are not up for vote. And in our town, the public does not get a vote on the school budget either.

    Only our town management can be big enough clowns to make the 4.8% school board tax levy increase seem almost reasonable.

  131. Mr Hyde says:

    Stater,

    re budget simulator @` 64

    It makes the situation pretty clear. The only real way to wipe out the deficit to to remove the majority of school aid, ala 60+% cuts.

    Anything else is just pissing into the wind.

    we could cut 100% of municipality aid, higher ed aid, and property tax rebate and we are still facing a 3.8 billion $ deficit.

    The ONLY way to close the gap is to initiate a state constitutional amendment and then end a large portion of state school funding.

    or we have to do something about pensions……

    neither is likely to happen

  132. Shore Guy says:

    The bottom line with municipal spending is this, there may be services and programs that provide real benefit aned real value that we just cannot afford right now.

    I am sure tht the Gator Family gets benefits from its monthly cruises. I am also pretty sure tht were one of you to lose a job you would cut back on that expense.

    One need not olly cut “waste.” Sometimes governments must also cut beneficial spending because te revenue is just not there.

  133. Final Doom says:

    John (121)-

    You have a rich fantasy life.

    I have a bevy of talented and motivate nieces and nephews who’ve graduated from good schools within the last three years. As of last Sunday, EVERY SINGLE ONE OF THEM is unemployed.

    All of them were employed up until the last six months, at which time all of them started getting laid off.

  134. Final Doom says:

    BTW, even when they were employed, my nieces and nephews lived at home, since the student debt they accrued is crushing.

  135. Mr Hyde says:

    stater 64

    we could also just increase income taxes by 50%, that would wipe out the deficit as well. Thats not so hard!

  136. Mr Hyde says:

    Doom 126

    Thank you. No offers yet, although a government job is sounding nice right about now.

  137. Final Doom says:

    poser (122)-

    I can’t understand why people are having kids, because we have two equally-unpalatable outcomes to our current problems:

    1. Complete societal breakdown, followed by chaos, followed by total nuclear war.

    2. Complete societal breakdown, followed by institution of totalitarian gubmint, followed by new gubmint’s escalation of our current state of permanent war.

  138. Final Doom says:

    Were I a younger person today, I’d never have a kid.

  139. NJGator says:

    Shore 135 – The Gator family has already cut back to one cruise this year – and one heavily subsidized by the casinos.

    The only other vacation we’ll be taking in the next few months is probably out to Las Vegas. Because the Wynn is offering up 5 free nights and $400 in slot credits between Stu and myself. Who says that low level degeneracy and a bad economy do not pay?

  140. Final Doom says:

    gator (133)-

    Sounds like it’s just about time for a tax revolt there.

  141. Final Doom says:

    I guess any real grassroots tax revolt in NJ has to also involve mortgagees and the escrows from which the pay property taxes on borrowers’ behalf.

    This is gonna get very interesting.

  142. Final Doom says:

    I think it’s about 100% likely that I’ll just play out the string on my house and business, then just default on everything and get the hell out of here.

  143. Final Doom says:

    Dumbest thing to do is to keep paying into the scam known as NJ.

  144. John says:

    I come from a family of workers. I have never been laid off. Secret is I thrive in Chaos. The worst things are the better I perform. In good times I may slack off but in good times jobs are safe. Since I perform at my peak under pressure. I have no fears. I am a playa baby. PLus I am a right place right time person. Don’t be in wrong place at wrong time is what I say. If I was on survivor I would win, even if I had to beat the other contestants to death with my own sawed off leg.

    Final Doom says:
    April 8, 2010 at 12:12 pm
    John (121)-

    You have a rich fantasy life.

    I have a bevy of talented and motivate nieces and nephews who’ve graduated from good schools within the last three years. As of last Sunday, EVERY SINGLE ONE OF THEM is unemployed.

    All of them were employed up until the last six months, at which time all of them started getting laid off.

  145. Final Doom says:

    hyde (139)-

    Don’t hold your breath on that gubmint job offer. Remember, you’re smart and honest.

  146. Comrade Nom Deplume says:

    [141] doom,

    that is why vasectomies are on the rise

  147. Mr Hyde says:

    Gee, this seems familiar:

    http://www.cbc.ca/money/story/2010/04/08/real-estate-royal-lepage.html

    MARKET Avg. two-storey house price
    Canada $365,000
    Vancouver $987,500
    Toronto $562,150
    Montreal $355,109

    No bubble here!

  148. Final Doom says:

    John (147)-

    I used to think the same about myself, but I’ve come around to the thinking that the longer you live, the more likely it is you will receive a visit from the Turk. It’s just an odds/numbers game, and the game is getting tilted vs. the players in exponential fashion, as the avenues to success continue to be shut down, one by one.

    The really big societal shift that will come from the current difficulties is when the number of people who get blown out by insurmountable financial problems decide not to play the game anymore, withdraw their productive efforts from the economy and settle into a listless, subservient Third World lifestyle.

  149. Libtard says:

    “Sounds like it’s just about time for a tax revolt there.”

    I think the progressives there are so stupid they actually support the tax increases.

    Wife: “Our property taxes are going up by 12%.”

    Husband: “Wow, things must really be bad.”

    Son: “Whose gonna drive my lazy @ss to school today?”

  150. Final Doom says:

    Latest prison missive from Martin Armstrong. Current call says Dow tops at 11,800 before crashing to a new low in June, 2011:

    http://www.zerohedge.com/article/martin-armstrong-teases-how-america-will-collapse-blink-eye

  151. John says:

    Am I to believe women know how to open and read a tax bill?

    Libtard says:
    April 8, 2010 at 12:35 pm
    “Sounds like it’s just about time for a tax revolt there.”

    I think the progressives there are so stupid they actually support the tax increases.

    Wife: “Our property taxes are going up by 12%.”

    Husband: “Wow, things must really be bad.”

    Son: “Whose gonna drive my lazy @ss to school today?”

  152. Final Doom says:

    lib (152)-

    American liberalism is the equivalent of willful stupidity.

    I bet in five years, all of Montclair will be like Bloomfield…maybe worse.

  153. Final Doom says:

    I”n an interview with Bloomberg’s Tom Keene, Richard Clarida of PIMCO has pretty much sealed the fate of Greece: “I don’t think that [7%] would be an attractive enough yield. Greece is sort of like the Titanic. Eighteen things went wrong, and when they go wrong at once it’s problematic.” Of course, with this kind of rhetoric the 10 Year will be trading at 8% tomorrow, followed up by Clarida saying not even 9% would be attractive, and so forth. When you have the world’s largest bond fund say it is not touching Greece with a ten foot pole essentially no matter what the yield, you get an idea of why Greek 1 Year CDS is trading 600/700. In the meantime, stocks continue to be blissfully unaware of what the surge in the dollar will mean to Obama’s export-led US manufacturing utopia. Oh well, at least we can continue to export “advanced” Wall Street services to Greece (and most other European peripheral countries) post default, courtesy of every domestic restructuring firm which is currently brushing up the sovereign reorganization “we are great” pages in its pitchbooks.”

    http://www.zerohedge.com/article/pimco-compares-greece-titanic-says-bonds-not-attractive-even-over-7

  154. Comrade Nom Deplume says:

    [151] doom

    “the number of people who get blown out by insurmountable financial problems decide not to play the game anymore, withdraw their productive efforts from the economy and settle into a listless, subservient Third World lifestyle.”

    That is what the nompound is for!

  155. leftwing says:

    d2b

    Yes, these ‘earnouts’ in business transactions exist.

    Before going there though explore what you’re really trying to do. You may be better served with something different.

    Do you want one because the owner shows forecasts that ramp up dramatically from historical performance? I would ask first why would you pay for any dramatic ramp at all, however structured.

    Do you want one because you’re concerned the business may appreciably slow? Why may it slow – market? Reconsider the industry in total or if the purchase price should just be lower.

    Where this structure may be most beneficial is in a high ticket, relationship driven business where the owner has longstanding clients and sales are made on factors other than price. Both seller and buyer should agree that transferring those relationships are key and takes time. Usually the owner may actually stay on after ward to help, drawing a salary or benefits until the business transfer is complete. that looks better to clients too, rather than their long time guy just cashing out.

    These structures can be funky though because if I were the seller and agreed to give you what is effectively downside protection I would want to retain more upside benefit. Are you willing to do that if the business is a home run?

    If you structure one make sure you use the right parameter for the payout. Do you care more about sales or earnings initially? How will it be measured – tax or accrual? Can it be accurately measured to everyone’s satisfaction (e.g. is revenue mostly in cash, what about all the cost items one usually finds in a family business?).

    Lastly, beware of overpaying anytime you have some type of deferred payment or owner financing. I’ve seen too many people buy something way overpriced because the cash down was low but they were able to ‘bridge’ a purchase price difference with a note. That bridge follows a road that usually terminates at an unwise purchase price. Those notes, however structured or long dated, come due. It is real money you are paying. Kind of like option ARMs that give the illusion of affordability and then go kaboom.

    Good luck.

  156. njescapee says:

    What will one do in a nompound? Will it be considered a longterm arrangement or a shorterm refuge from chaos?

  157. John says:

    I live in a blue collar town. Most people do not have a mortgage and drive used cars. I say RE taxes are like 7-10K a year and for most that is there only expense. People fix their own homes and shovel their own walks. Average family have three kids in the schools and their 8K property tax pays for that, garbage pick-up, cops, firemen, roads and parks. Average couple is a teacher making 90k married to a cop making 110K. No one in my town got laid off or lost money int he melt down. I also don’t have a mortgage and own my cars. What do I need a nompound for? Can’t I just live in my debt free house and plant a little garden out back and live off my bond interest of a few thousand each month.

    Comrade Nom Deplume says:
    April 8, 2010 at 12:44 pm
    [151] doom

    “the number of people who get blown out by insurmountable financial problems decide not to play the game anymore, withdraw their productive efforts from the economy and settle into a listless, subservient Third World lifestyle.”

    That is what the nompound is for!

  158. Outofstater says:

    #134 How about every town gets exactly the same amount of state aid for schools and the local property owners make up the difference? That way, towns can have whatever kind of schools they like; they just have to pay for them. Oh wait, that pesky NJ Supreme Court… Seriously, can Abbott be changed? That seems to be a huge part of the problem. It’s been such a crashing failure – can it be re-argued somehow?

  159. Al "The Thermostat" Gore says:

    Doom,

    Couldnt agree more. Once the plug is pulled there will be violence, hunger, bankruptcies etc followed by World War 3. Dont let your kids get drafted and show any invading armies directions to DC.

  160. Final Doom says:

    John, it’s too bad you and your neighbors are outnumbered by a billion or so.

  161. Final Doom says:

    al (163)-

    I think at the penultimate moment, all our creditor nations will be furnished with maps to DC…provided by our gubmint in DC.

    Yield must be paid.

  162. freedy says:

    how high can they raise taxes in these
    North Jersey towns, without an exodus,are
    they that stupid?

  163. NJGator says:

    Outofstater 162 – I think the state should define what is required for a basic education and fund that amount/student equally in each school district via the state income tax. Anything beyond the basics that your foofy town wants for Lil Graydon and Ellery must have should be approved by local taxpayers and paid via local property tax dollars.

    If we funded that way, there would be no Abbott. We only have Abbott because the vast majority of school funding comes from local property taxes. And the Abbott Wastelands have no tax base.

    Oh, and when the state is broke, the per student funding should be reduced equally across the board. None of this some districts lose 100% and some lose 10% BS that we are seeing this year.

  164. Comrade Nom Deplume says:

    [161] john

    Sure you can.

    I, however, want to be able to provide better, and also to export food to the suburbs and fringe of the city, where I will take what little wealth they have left.

    BWAHAHAHAHA

  165. Comrade Nom Deplume says:

    [160] escapee

    That is a discussion for a GTG. But you are in the Keys, so maybe not.

  166. Final Doom says:

    gator (167)-

    I think we should all come to an understanding to discontinue public education and move en masse back to a hunter/gatherer economic model.

  167. NJGator says:

    Shore – FYI – Your future Montclair country home is holding an open house this weekend.

    http://www.baristanet.com/realestate/2010/04/picture_perfect_home_for_sale_in_montclair.php

  168. Final Doom says:

    Gator, I love that Port Authority shade of green.

  169. Outofstater says:

    #167 Gator – That makes sense to me. Making it happen is going to be the tricky bit.

  170. Final Doom says:

    stater (173)-

    Any idea that makes sense is summarily rejected in NJ.

  171. NJGator says:

    Yes, Doom. It’s “picture perfect”. And walking distance to the Whole Foods. Can’t go wrong.

    And I guarantee you’ll find it on the docket of the Essex County Board of Taxation next year. It’s assessed at 100k over asking price.

  172. Shore Guy says:

    Gator,

    It looks lke one of the “bedrooms” is actually a sitting hallway at the top of the stairs.

    http://www.baristanet.com/realestate/16Bellaire%3Aboysrm.jpg

  173. NJGator says:

    Shore – Is grass in the back yard an absolute requirement for you? What do you really expect for only $15k+ in taxes anyway?

    http://emailrpt.gsmls.com/public/media.do?method=gethighresolution&mlnum=2755996&num=0&res=highres&imagecnt=16&sysid=4030805&pubid=273042&servername=null

  174. Shore Guy says:

    The kitchen sucks also.

  175. NJGator says:

    That’s what we call a “chef’s delight galley kitchen” around these parts.

  176. Shore Guy says:

    I would last about one meal in that kind of workspace.

  177. Shore Guy says:

    Off to the salt mine. Carry on all.

  178. Outofstater says:

    #174 Yeah, but maybe not ALL the time. I hope there are enough people in NJ who see a little ray of light with what Christie has done so far and they’re thinking that maybe, just maybe, the old ways of doing things can be stopped. It will be tough – this stuff has been going on for generations and most people have just assumed they were powerless to do anything about it. I think Christie might have changed that.

  179. NJGator says:

    Shore 180 – All the better. That gives you more opportunity to enjoy all of the wonderful restaurants that we have here in Montclair!

  180. Al "The Thermostat" Gore says:

    168.

    Back in the old days at the Shore a bluefish would net you 25 cents a fish in the city.

    In the not too distant future I figure I can get 500 bucks for a striped bass or 8 lb fluke. It will make my mortgage look like chump change.

    Oh and I plan on taking all the Menhaden as well. Chopping them up to be sold as fertilizer to my local farmer.

  181. Libtard says:

    Outofstater:

    All that Christie has managed to do so far is shift the tax burden to the municipalities. If he succeeds in creating an unbreakable 2.5% tax cap on municipalities then I’m on board. Unfortunately, he will need the legislatures help on this one. The same legislature that has created the mess we are currently in. So far, Christie looks a lot more like Whitman and a lot less like the savior you make him out to be. He has one year to pass the cap. Wanna make a bet that it is not even pursued?

  182. Comrade Nom Deplume says:

    [184] Al

    When I visited some friends in Texas, at what I am sure is now their “nompound”, they took me catfish fishing in a small catfish pond. It was created on the property, not natural.

    We ate what we caught, and it was the best damn catfish I ever had.

    The owner was in the process of creating a much larger pond on the property, and at a higher point, so it probably also was intended as a water source.

    Water is a consideration for the nompound, and I intend to have a small pond for fishing and emergency reserves, stream-fed if possible.

  183. DL says:

    Had my agent stop sending me properties in Glenside, PA (got tired of looking at 3 bd 1 ba crapboxes) and switched our search to Doylestown. A four day weekend in Manhatten back in Feb convinced us we wanted to be closer to NY. You can rent a house/townhouse in Doylestown for 2.2k a month that’s on the market for 500k. Same hosue sold for 298k or less in 1998. Still can’t believe the pricing but I guess someone is buying at these prices?

  184. Mr Hyde says:

    you have to love chinese construction:

    http://blogs.wsj.com/chinarealtime/2009/06/29/shanghai-building-collapses-nearly-intact/tab/article/

    …Quality problems have long plagued construction in China,…More recently, state media reported that several new dams along the Yellow River are in danger of collapse, a situation attributed to shoddy construction practices, embezzlement and unqualified workers.

  185. Painhrtz says:

    Well Clot let the taunting begin, offer accepted on our latest bid. home indebtedness here I come.

  186. make money says:

    http://sagharboronline.com/sagharborexpress/page-1/stony-brook-to-close-southampton-campus-7218

    Edumucation bubble anyone?

    John,

    Any stories you want to share?

  187. Outofstater says:

    #185 I guess I’m missing something. Shouldn’t the residents of a municipality be the ones paying for their schools and services, not the state? Shouldn’t the state be funding only those activities that are either mandated by the state or are for the benefit of all of the residents of the state? So, individual taxpayers can decide if their school superintendent is worth $200K a year and their beat cops are worth $100K/yr. I like to think that when a taxpayer can see a direct line from his wallet to a specific public employee’s bank account, he might think twice about spending the money.

  188. blindjust says:

    [90] Nom
    Foreign real estate and land in conservative US states will do well as it will attract investment from the “wealthy.”

    I think the magnitude of investors incorporating RE back into their portfolio might also depend on the following:
    1. Opportunity cost
    2. Cost of capital
    3. Projected appreciation rate for rental and subsequent sale
    4. Vacancy factor
    5. Cash flow

    all of which will contribute to their IRR computation.

  189. Final Doom says:

    Shore (176)-

    Nah, that’s a bedroom. You can get at least 12 Hondurans into that space.

  190. John says:

    That stupid school used to be part of LIU which closed it down as it made no money and was located in one of the most expensive parts of the world on the tip of an island where everything costs a ton. LIU was making no money so shut it down and rich residents rather than have condos open up persuaded NY State’s SUNY system to open it so the poor lobstermans kids could have a proper maritime education. Well It makes no sense for SUNY either, everything is centralized at the massive StonyBrook campus so SUNY could not make money there either. Nothing to do with the current climate. That was always a dog.

    make money says:
    April 8, 2010 at 2:07 pm
    http://sagharboronline.com/sagharborexpress/page-1/stony-brook-to-close-southampton-campus-7218

    Edumucation bubble anyone?

    John,

    Any stories you want to share?

  191. Final Doom says:

    pain (189)-

    Don’t say I didn’t warn you.

  192. Final Doom says:

    hyde (188)-

    Guess the picture Mish posted a few months back of a similar collapse shows this phenomenon is not a one-off.

  193. Veto That - Lawrence Yun 'The Panda' says:

    “I maybe wrong. Government workers have seperate unempolyment benefits and are not collecting social security benefits same as the private sector.”

    bullrun. This doesn’t seem accurate.
    I dont have any backup to say for sure.

  194. blindjust says:

    Congrats Pain.

    Clot – I’ve been warned as well. Is there a point where you would be amenable to a purchase (ie: PITI < ?% of a corresponding rental)?

  195. Final Doom says:

    stater (191)-

    What a quaint concept: gubmint by and for the people. Almost as quaint as home rule as a vehicle for local residents to exert greater influence on local gubmint.

    Too bad the reality is that US local gubmint is the largest Ponzi/protection racket/enabler/workfare scheme in modern history.

  196. Libtard says:

    Outostater(191):

    Hypothetically you are 100% correct. Unfortunately, it does not work that way. As long as the per student cost at Princeton Regional is $17,000, and the state rules that the poorest districts must spend more per pupil than the richest district, your argument goes out the window. Christie has made no attempt to change the Abbott remedies. Give me the cap on increases and a change to Abbott and I’ll even donate to the fat mans next campaign, if he lives to see it. So far, he has only played typical political games. He made all of the cuts to the group that is least likely to support him. The same fat exists in the police and fire departments. Nothing cut from there as they tend to vote Republican.

    You can thank me for showing you the light in about two years time when you see that nothing is really different.

  197. Mr Hyde says:

    Blind

    Is there a price point at which you would buy a ticket on the Titanic if you new the endgame?

  198. Painhrtz says:

    Clot for the record 3.5 times one salary, FHA’ing it taxes are below 7 and comparable PITI with renting similar property. Keeping a good chunk of our cash and not really all that much different than what we are spending right now. Staying ten to 15 and don’t care if it goes at a loss.

  199. blindjust says:

    Hyde – perhaps because I’d question what I really do know which would exclude the end state of this debacle.

  200. Final Doom says:

    blind (198)-

    It will be time to buy when the price/rental relationship means that an investor could snag a comfortable 10-12% gross profit on the rent. Ideally, I’d like to see a situation in which one month’s potential enforceable rent would not be less than 1% of the purchase price of the property.

    If and when I see these situations in NJ ever again, you will not see me here touting them. :)

  201. Final Doom says:

    pain (202)-

    Sounds OK. You are in a very small minority of current buyers.

  202. blindjust says:

    Clot – thanks. That’s precisely what triggered my sell.

  203. Final Doom says:

    lib (200)-

    Sadly, I believe you are exactly correct. However, it’s been some cold comfort to see NJEA squirm.

  204. Painhrtz says:

    No kidding, you have no idea how much aggravation I have had to endure with the wife to get to this point

  205. Final Doom says:

    Question to all: would you rather dump your spouse while you are solvent, mobile and job-marketable…or would you rather break it off once you are broke, soon to be homeless and without job prospects?

  206. Mr Hyde says:

    blind

    just being contrary

  207. Painhrtz says:

    The latter ensures she gets nothing, she can’t take ownership of the guns no FID card for her.

  208. Final Doom says:

    Killing your spouse is not an acceptable answer to #209.

  209. Outofstater says:

    #200 I agree that Abbott has to go. I also agree that fat exists in every gov’t entity including police and fire. So what is the solution? There HAS to be one out there somewhere.

  210. njescapee says:

    solution is all parties have to act like adults. never happen

  211. Jamal Van Jones says:

    There HAS to be one out there somewhere.

    Go Galt. It is the only way. Clean your own sewer, put out your own fires etc. That will teach the fcukin parasites.

  212. Libtard says:

    Final Doom:

    You do not have enough ammo to cover all of your idle threats.

  213. blindjust says:

    Clot – my preference would be the latter so I could leverage current assets to develop skills that would improve my employment prospects.

  214. Sastry says:

    Hyde, you should see the video on RM’s show. One guy tried to get all the information on ch!ld pr0s ring, and immediately called the police. Fox aired a doctored video repeatedly to imply that he was trying to help the ch!ld pr0s ring, and ACORN promptly fired him.

    Do you not see why outrage is justified in this case?

    S

  215. Final Doom says:

    Lib (216)-

    But I do have enough to follow through on the ones on which I intend to act.

    “You do not have enough ammo to cover all of your idle threats.”

  216. John says:

    How fat is she?

    Final Doom says:
    April 8, 2010 at 2:39 pm
    Question to all: would you rather dump your spouse while you are solvent, mobile and job-marketable…or would you rather break it off once you are broke, soon to be homeless and without job prospects?

  217. Libtard says:

    The solution is to make the budgets match the revenues. Just as in the private sector. It’s a simple concept really. No revenue increases, no salary increases. Just as in the private sector. There, elect me governor.

  218. Sastry says:

    njescapee, re race issues…

    I was about to ask the guy to shut up, but thought it would be wiser not to shout down a guy on the plane (irrespective of how rude he is). What would your advise be to an Indian person who speaks with an accent under that situation?

  219. Final Doom says:

    Go eat a steak?

    “What would your advise be to an Indian person who speaks with an accent under that situation?”

  220. NJGator says:

    BTW – Interesting discussion going on over at Baristanet re the Montclair municipal tax increase. Our second ward councillor has admitted that we are looking at an overall 7% tax rate hike (school/municipal/county).

    http://www.baristanet.com/2010/04/montclair_11_tax_hike_possible.php

  221. njescapee says:

    Sastry, Maybe you’re just too gentle for your own good. I work in the IT field with many Indian colleagues. For the most part, these guys are not shrinking violets by any means. They can argue and assertive just like anyone else.

  222. Veto That - Lawrence Yun 'The Panda' says:

    ok. It’s time to pull together and raise some taxes people.

    For starters i propose $7 Gasoline and a 12% sales tax.

    Who’s with me?

  223. Ray says:

    Westfield Comp Killer

    722 Knollwood

    Date Sale Price
    10/01/07 $780,000
    4/5/2010 $685,000

    I haven’t been able to read the posts today – are we talking about real estate or guns? Or have they become inextricably intertwined?

  224. Anon E. Moose says:

    Doom[212];

    Perhaps it is simply a rational choice to pay criminal defense lawyers over matrimonial.

  225. Veto That - Lawrence Yun 'The Panda' says:

    There is a woman and daughter who live in our condo complex.

    Apparently they are on welfare and everyone believes that because the mom has no job and there is construction paper on the windows, instead of curtains. Yet they have two big dogs in a two bedroom apt so you can imagine what that smells like.

    Anyway, i overheard the mom talking about her trip to Disney last week. I didn’t get the full story but i did hear her say, “I couldn’t cancel it because it costed $5,000.”

  226. njescapee says:

    V, are you on drugs? :-)

  227. NJGator says:

    Clot – I think I love you. Don’t tell Stu.

  228. sas3 says:

    escapee… In Aug 2000, at EWR security check, my colleague was not able to clear the gate (kept beeping — he had a watch I guess). I joked he had a gun! I got admonished (I right away apologized it was a joke, but the security lady said she can make me wait whole day in a room there!). I can’t even imagine doing such a thing post 9/11.

    The guy who was being rude to air hostess, it could have gone either way…

  229. Final Doom says:

    Stu is destroying some Montklair politburo lackey over at baristanet.

  230. Anon E. Moose says:

    Lib[216];

    I figured that out a LONG time ago. Who could stay here taking him seriously?

  231. Libtard says:

    Clot – I think I love you. Don’t tell Gator.

  232. Painhrtz says:

    222 Sastry Thank you, come again?

  233. Libtard says:

    FD,

    Did you like when I offered him the $1,000 bet that the increase would be over 10%?

  234. Veto That - Lawrence Yun 'The Panda' says:

    “are you on drugs? :-)”

    njescapee, unfortunately not, but that was an impression of myself on drugs.

  235. sas3 says:

    Nom, first time seeing RM’s show on TV. I guess I feel for the guy — caught in cross-fire? He should try to sue — nothing like standing up to the “man” [rupert murdoch in this case].

  236. Libtard says:

    222. Sastry –

    How about just offering him a Ghandi-like peace gesture? I would have offered to buy him a Slurpee after you landed.

  237. NJGator says:

    Doom 233 – Cary is actually the best of the bunch. There is some glimmer of hope of usefulness for 2 of the other members of the council. The other 4 would gladly cover the town in bike racks.

  238. njescapee says:

    sas3, People are easily freaked out while couped up on commercial flights. it’s like being hostage for the entire time you’re in the carrier’s “care.” I hate to travel anymore and am very happy as a lowly teleworker living here in the florida keys.

  239. Veto That - Lawrence Yun 'The Panda' says:

    “Clot – I think I love you. Don’t tell Gator.”

    im confused here.
    Libtard = stu?

  240. Comrade Nom Deplume says:

    [209] doom

    Consider that your financial status goes toward maintenance, child support, and property division. Not unsual for spouses to seek a divorce when they have less to lose and more to gain.

    Note that it is common for spouses to argue that a divorcing spouse deliberately impovershed oneself, or that they are capable of earning more but are choosing not to, and courts have sided with them.

  241. Libtard says:

    Veto:

    Libtard is me. I can’t believe you never figured that out. You can determine my location through my name changes. On my PC at work, I am Libtard. On my Mac at work, I am Stu aka the Sausage Party. On my PC at home, I am simply Stu.

    Why do I do this? Cause I’m too lazy to change it.

    No biggie, I used to confuse Clot and Kettle, even to their faces at a GTG.

  242. Final Doom says:

    lib (237)-

    I bet that wuss wouldn’t pay up if you won that bet.

    I nearly puked when I saw his suggestion to bring in McKinsey. It’d be more efficient for your town to just shovel cash into an incinerator.

  243. Comrade Nom Deplume says:

    [218] sastry

    Child pron? Are we talking about a different video than the one that got ACORN in all that hot water? Cuz I don’t remember anything about kiddie pron, only the dude posing as a john and his “independent contractor” girlfriend, who couldn’t prove income because of their “profession.” Futher, I don’t recall any men in the video other than the fake john. Was this an entire new video?

  244. Final Doom says:

    gator (241)-

    Think it’s time for me to toss up a “vote with a bullet” comment on that baristanet thread?

  245. Mr Hyde says:

    Stu,

    And what exactly does the grand council of Montclair plan to do when tax receipts/ revenue continues to crater next year?

  246. John says:

    Who knows, but what is up with Hindus never saying God Bless you when people sneeze in front of them? Kinda Rude

    Sastry says:
    April 8, 2010 at 2:58 pm
    njescapee, re race issues…

    I was about to ask the guy to shut up, but thought it would be wiser not to shout down a guy on the plane (irrespective of how rude he is). What would your advise be to an Indian person who speaks with an accent under that situation?

  247. NJGator says:

    Hyde 249 – Increase taxes again

  248. Comrade Nom Deplume says:

    [192] blind

    All of those factors may not be relevant depending on the property and the person, but in general, absolutely.

    The idea is to defer recognition of gain, and to keep ownership hidden if possible. For example, if you park $$$ in an offshore account, its a felony to not tell the IRS. But the IRS need not know anything about the north 40 you own in Minnesota, or Canada for that matter (not sure on this last part—must check).

  249. Libtard says:

    FD,

    That is essentially what they do. There was a proposal to put a hydroelectric turbine on a tiny stream in our town earlier this year. Green grant dollars would have paid for about half of it. I did the math. The ROI would have been net negative for about two thousand years. I actually emailed the entire council on this one and offered to turn the turbine by hand for half the installation cost if they would pay me some of the difference.

    The town makes San Francisco look conservative.

  250. NJGator says:

    Doom 248 – Please don’t. They will ban you due to their new draconian comment policy and delete your comment as well.

    It would be much more entertaining for you to stick around a while and needle the proletariot.

  251. NJGator says:

    FD – Not sure if you noticed, but our Comrades can rate your comments. Will be interesting to see how many negative votes you get.

  252. Veto That - Lawrence Yun 'The Panda' says:

    ok lib thx, its all cleared up now.

    Was just making sure no strange posters were moving in on stu’s wife. ;^)

  253. Libtard says:

    Thanks Veets.

    I would be more worried about Clot, who apparently switch hits.

  254. Libtard says:

    Clot…You are brutal!

  255. Final Doom says:

    Montklair faggots…

  256. jcer says:

    People in IT tend to be loud and irritating regardless or race, sex, creed, or religion.

  257. Veto That - Lawrence Yun 'The Panda' says:

    “I would be more worried about Clot, who apparently switch hits.”

    yes after two swigs of whiskey, he will sleep with anything in grabbing distance.
    plus he shoots them when its all done.

  258. Final Doom says:

    Stu, I’ve maybe set foot in your town three times in my life, and I hate it as if I was a kid who grew up in Stalingrad during the siege.

  259. Final Doom says:

    veto (261)-

    Isn’t that the American Way?

  260. Libtard says:

    Our restaurants kick @ss though. I suppose we are a bit like France. We are ultra-liberal pussies, but we know how to enjoy eating.

  261. jcer says:

    Montclair is a nice town, now only if it wasn’t run like some weak version of the soviet union.

  262. Final Doom says:

    lib (264)-

    But do you know how to riot?

  263. Final Doom says:

    I may have to move my show over to baristanet, grim.

    It’s a target-rich environment. :)

  264. John says:

    IT is the trash bin of Corporate America. The guys who work in Buy More look better than the average IT guy.

  265. All "H-Train" Hype says:

    Doom:

    Loved the comment about Montclair turning into Bloomfield.

    I am still laughing.

    Seriously, bring in a consultant for the budget. WTF? They get backed into to a hole now they need a company to help sort it out. How about sitting down and working it out. Geeze. Isn’t Montklair loaded to the gills with smart people?

  266. Veto That - Lawrence Yun 'The Panda' says:

    We have April 2002 sricing in East Windsor.
    What a hunk of junk though.

    http://www.realtor.com/realestateandhomes-detail/9-Millstone-Dr_Cranbury_NJ_08512_1116485052

  267. NJGator says:

    All Hype – Cary is an ideas person, a thinker. He also wants to study everything up the wazoo.

    He is the only one who communicates with the town, answers questions, gets information out to the public. Before he was elected to office, I think all his “spare” time was filing OPRA requests with the town and the schools.

    Mayor Fried and the rest of his sorry slate were elected solely because of Cary’s reputation throughout the town.

    Primarily, Cary is the only one in the bunch that cares about fiscal responsibility. After him, maybe only Renee Baskerville and Rich Murnick have any common sense. And Renee is all about representing the underprivileged in the 4th Ward….so while she is a reliable vote to question stupid spending like a Senior Center or an eminent domain battle for a parking lot, making real cuts are going to impact her constituency the most…so I definitely see her voting for big tax increases in this go around.

    The big problem with Cary, as you can see from his posts, is that he is a thinker, not a leader.

    We are doomed.

  268. NJGator says:

    Doom – BTW – Your allies on Baristanet will be Right of Center, Miss Marta, Walleroo, Profwilliams, Cathar and some guy named Kyle

  269. njescapee says:

    268, John, I guess then that the Finance department is the trash that is swept in to the trash bins of corporate america.

  270. blindjust says:

    []260 People in IT tend to be loud and irritating regardless or race, sex, creed, or religion.

    How does the phrase go again … pot … kettle … black JCR??

  271. Anon E. Moose says:

    Veto[270];

    Outside corner plot is actually a nice feature. The one thing you can’t fix is bad land. Keeping that in mind, however, the stream running through the backyard is a problem, and it is uncommutable from Manhattan if you want to see your kids. Not that you’d want to see them after the East Windsor school district got done with them.

    Pass.

  272. Comrade Nom Deplume says:

    You can get the music off the net, but here is my take on the Montklair national anthem:

    “Unbreakable union of freeborn neighborhoods
    Great Montklair has welded forever to stand!
    Created in struggle by will of the peoples
    United and mighty, our Sov1et land!

    CHORUS:

    Glory to our great Montklair, mighty and free,
    Bulwark of people, in brotherhood strong!
    Oh! Party of Barack! The strength of the people.
    To Commun1sm’s triumph lead us on!

    2.
    Through tempests the sun rays of freedom have cheered us
    Along the new path where great McGreevey did lead!
    To a righteous cause he raised up the people
    Inspired them to labour and valorous deed!

    CHORUS

    3.
    In the victory of Commun1sm’s deathless ideal,
    We see the future of our dear land
    And to her fluttering scarlet banner,
    selflessly true, we always shall stand!

    CHORUS

  273. Comrade Nom Deplume says:

    And here is a link in case you want to practice it before Montklair town meetings

    http://en.wikipedia.org/wiki/File:Ussrgymn.ogg

  274. John says:

    From my upper floor waterview corner office I can almost see your cube.

    njescapee says:
    April 8, 2010 at 4:20 pm
    268, John, I guess then that the Finance department is the trash that is swept in to the trash bins of corporate america.

  275. jcer says:

    I work in technology, nothing against IT people but social graces aren’t typically a strong point and technology people have little issue speaking up. Now counter to John, I believe they work hard and provide infinitely more value than many of the finance guys. Without the technology guys most businesses are dead in the water. That is why they can get loud and be in people’s face a lot more than most people in any other part of a company. Finance guys tend to take this attitude to another level.

    John if you posted from work, I can guarantee IT saw your post. Remember they can really ruin your day.

  276. safeashouses says:

    #171 Gator,

    The front of that house looks like a crotch.

  277. Comrade Nom Deplume says:

    [279] The first image actually. NOt the Gadsden flag

  278. jcer says:

    John, you work for JPM right? There are software people there who rank higher, make more money, and have a better office than you. Keep that in mind.

  279. Veto That - Lawrence Yun 'The Panda' says:

    Anecdotal but two of IT guys that i know are making more than any of the IB VPs i know working on the street right now.

    I dont know much about the IT industry but i get the feeling that the bottom half of IT industry have been outsources to the 3rd world but the top 50% of the IT industry is cleaning up.

  280. safeashouses says:

    #209 Doom,

    Solvent and marketable is the way to go. At least you can pull more and higher quality chicks that way. Or broke if the wife is loaded. like k-fed.

    I guess the best way would be to be solvent with all your stuff in trusts or something like that so current and any future wife couldn’t touch it or know about it.

  281. jcer says:

    Veto, it is pretty key that IT people who have not been outsourced are not easily outsourced. Pay for it people varies from decent to good. IB’s have MD’s in technology and some are developers those people make bank.

  282. jcer says:

    A good IT person is worth their weight in gold, they make business much easier.

  283. Comrade Nom Deplume says:

    and finally, a poster for Jamil. Probably hanging in his room.

    http://www.zazzle.co.uk/ussa_poster-228220822459517670

  284. Final Doom says:

    jcer (280)-

    I like Chloe on 24. In my world, all IT people would be like her and sorta hot in that goofy/aggressive way she has.

    Then again, the real world much more resembles Montklair.

  285. Stu says:

    Clot…You have been discovered.

  286. sas3 says:

    Nom, it was about pr0stitution ring… and children. Fox played it as ACORN helping this pimp and girl to bring in underaged kids from Mexico.

    Based on Maddow’s video, it looks like an open-and-shut case. But, I should ack that based on Hannity’s video, it was an open-and-shut case the other way. However, I am old enough to know that truth rarely falls halfway in between.

    S

  287. sas3 says:

    John, I can’t recall any Indian here I know that doesn’t say, “Bless you” when someone sneezes. I won’t try a proof by isolated example since I haven’t met many Indians in a corporate IT setting.

    Most Indians I know here went to grad school in US and/or spouses of those that did. The nick name was PIGS — Poor Indian Grad Students. It is possible that some people come directly to US to work in a corporation probably relate to others a bit differently (the standard motto seems to be “keep the client happy”).

    Given there are a billion Indians, one can expect a large variability…

    S

  288. sas3 says:

    Nom,

    [California State Attorney General] Brown also stated that, although O’Keefe and Giles are immune from state’s prosecution, if the circumstances are appropriate, they may be sued by the ACORN members filmed on their videos [for violation of privacy — and not for slander!]

    http://ag.ca.gov/cms_attachments/press/pdfs/n1888_acorn_report.pdf (Page 2)

    It seems Maddow made a big deal but without following up. Fk the cable news (thank God I don’t have that at home), they are picking up fights against each other and then cut to ads for depression medication!

  289. Al "The Thermostat" Gore says:

    269.

    Last time I was in Montclair it was littered with cement highway dividers and traffic cones. Never went back.

    I suggest a pincer move on the municipality thereby locking them into their communist fate. Treat them like Hitlers 6th army. Let them eat horse meat then eachother. When its all done we collect donations for excavation machines dig up and dump the survivors into the Hudson river.

  290. Comrade Nom Deplume says:

    [291] sastry

    I guess I missed the underaged kids part. Was it simply smuggling or were the kids going to be pimped out too?

  291. Comrade Nom Deplume says:

    [294] sastry

    I have a clearer picture now, and I am afraid you drank the Maddow kool aid my friend.

    The kiddie trafficking issues never made it into mainstream media. I never even heard it on Fox, but I will assume it was there.

    But it did not result in ACORNs demise. The AG had full access to the tape and concluded that, as was widely reported, the Acorners seemed to be counseling on how they (O’Keefe and Giles) could hide the prost1tition activities. The AG report doesn’t deal with the kiddie trafficking stuff.

    So Fox may have implied that ACORN had been encouraging kiddie trafficking, but Maddow was alleging that FOX smeared ACORN unfairly, when the record plainly shows that ACORN did itself in.

    Now, not having seen the whole tape (and not trusting that Maddow didn’t do some selective editing), I also find it somewhat implausible that ACORN was on the one hand trying to get info. out of the pair in order to report them to the cops, and then telling them that they were going to do that. Maybe they did, but it strikes me as odd.

    I do find it plausible (and you can tell me if it is there) that ACORNers tried to talk them out of it. And if they did, and Fox didn’t run that, they didn’t tell the whole story (which makes them as bad as MSNBC).

  292. jamil says:

    296 Comrade: Jerry Brown carrying out investigation clearing ACORN is like Shore Guy advising on the Constitution.

    ACORN has already been shut down in half dozens states by State Govs because of voter fraud (often, as a part of a deal, ACORN voluntarily agreed to terminate its operations). There isn’t much ACORN can say about the pros tapes, either. Of course, if you listen to Rachel all this was just a misunderstanding.

  293. Comrade Nom Deplume says:

    [298] jamil

    I don’t listen to Comrade Maddow as I was never big on indoctrination.

    That said, I would be comfortable hearing out Shore on the constitution. As one that has studied it as an undergrad and as a law student, I have a pretty good idea how to intepret it, which is not as easy as it looks.

  294. Comrade Nom Deplume says:

    You cannot make this stuff up. I said before that Justice was filling the Civil Rights Division with true believers.

    Now, apparently, they give extra credit if you are a civil rights community organizer.

    This from a posting on USAJOBS:

    “In addition, while not required, consideration may be given to candidates with relevant additional civil rights experience outside the core competencies of the Section . . .”

  295. sas3 says:

    Nom,

    Maddow’s story was that Fox did selective editing and ranted on and on about how bad ACORN was. One guy that was “may be” unfairly punished.

    I must add that she never said it from the perspective of the guy that got fired, but from the perspective of “Fox lies”.

    I for one, when I was watching the show was not thinking about who lies, but on what would happen to the who was fired now? RM didn’t seem to focus on that at all!

    I’ve been had. Note to self, tell the cablevision guy that keeps peddling full cable at only 10+ bucks more than what I pay now, “No thanks!”.

    S

  296. Yikes says:

    thx for the propane/solar thoughts yesterday.

    of course we’re told that even w/ solar, the spa/hot tub part of the pool wont get ‘that hot’ – ie, 100+ degrees.

    wife and i are at odds – why get a spa that you can only use when the pool is open? who wants to sit in a 100-degree spa in 90 degree heat?

  297. safeashouses says:

    I thought this might have been Bergarbe or his predecessor on vacation.

    “Giant lizard discovered in the Philippines”

    Turns out it really is a monitor lizard previously unknown to science. I was wrong again.

    http://news.yahoo.com/s/ap/as_philippines_giant_lizard

  298. jamil says:

    Comrade: “That said, I would be comfortable hearing out Shore on the constitution”

    Me too. The problem is that Shore Guy’s rants on Constitution (copy-pasted from Obamaweek) depend entirely on whether the President is liberal or not.

    For example, now we have latest news, that O Admin is carrying out extrajudicial killings on US citizens outside battlefield. We can call them “warrantless killings”. No Miranda rights, court orders or defense lawyers. Of course, had Yoo suggested this or Bush carried out this, the heads of Chris Matthews and Shore Guy would have exploded. Now, of course, nothing to see here. President can just wipe out US citizens here and there using vague war on terror powers.

    “War on poverty” also surely gives the President the authority to kill unpleasant citizens. Similarly, nuking civilian city is fine (if ordered by liberal), but if someone dares to suggest to conservative President that he has broad wartime authors then clearly we need a politized with hunt, involving criminal leaks and unethical behaviour.

    We all know Shore Guy can not defend his positions when he gets called out for his BS from Obamaweek. All he can do is to boast his high salary and how he supports the constitution.

    Unfortunately, DOJ is filled out hard-core activists, like Shore Guy. After November we need wide criminal investigations on DOJ ans shut down “Civil Rights” div (to be replaced by Constitutional Rights div, ie the concept that all constitional rights for all americans are important).

  299. yo'me says:

    Americans paying off their debt and spending more in cash!

  300. Al "The Thermostat" Gore says:

    Jamil,

    I think most folks here agree regardless of political party that the wars are complete BS and are a racket enriching the military industrial complex and its affiliates.

    Who do you fear more? Cavemen or the Federal government.

  301. Al "The Thermostat" Gore says:

    Interesting insight from the riots in Kyrgyzstan. Words to the wise.

    “Looting and arson of retail outlets and VIP homes continues in Bishkek. A neighborhood housing foreign diplomats has been ransacked, as have the homes of the deposed prime minister and the president’s son. The national art museum is said to have been looted. City police have successfully defended their headquarters against an angry mob of several thousand. Shots have been heard throughout the city through all of last night and all day long today. As in 2005, the main culprits seem to be poor, recent arrivals to the city as well as village dwellers who traveled into town overnight on buses or other commandeered vehicles, taking advantage of the political chaos and police disorganization to grab whatever they can, including weapons. Some of the looters are said to be moving from neighborhood to neighborhood in organized fashion, on buses, en masse. They are being opposed by several thousand spontaneously organized, partially-armed civilian volunteer militia (identified by red, blue, or white armbands) and shopkeepers defending their property as well as any police willing and able to remain on duty. Firefights between looters and defenders are occurring as frequently as several times per hour. The casualty toll from yesterday’s political events, before today’s battle over property, has reached 75 dead and 1000 injured. A more recent figure is not available. People are standing in line at hospitals to donate blood. Army units are said to be arriving into town at this time.”

  302. Al "The Thermostat" Gore says:

    By the way. Im in the market for a rifle scope. Any recommendations in the sub $300 range?

  303. Jamal van Jones says:
  304. borat obama says:

    Last

  305. Yikes says:

    Final Doom says:
    April 8, 2010 at 12:36 pm

    Latest prison missive from Martin Armstrong. Current call says Dow tops at 11,800 before crashing to a new low in June, 2011:

    http://www.zerohedge.com/article/martin-armstrong-teases-how-america-will-collapse-blink-eye

    awesome find, Clot. that New yorker piece on Armstrong last year was great. i sent it to everyone i know. i’d bet 2% of people read it.

  306. Pat says:

    Can you please all just stop. Stop. My stomach hurts.

    I’m scanning in here five minutes and Sastry’s doing some quick Indian Accent Slushie Improv to diffuse a situation on a plane. John with the being John. The Montklair thread. BTW, after reading the posts by Cary over there, I’m remembering some things on this blog and wondering if he posts here under another nick?

    There are many unemployed consultants out there. Start a Facebook group searchable by “Business Public and Non-Profit Consultants”. You’ll get all your reports in triplicate for free. You’ll get your roundtables and your spreadsheets. Citizens4Montclair will end up with a case study blog, and a complete article in “Inc.” Every penny spent on consultants is wasted because the town won’t get the publicity bang it needs. So take the bull by the balls and publish a counter-consultant paper.

    Work it.

  307. Pat says:

    Yeah, and a youtube video couldn’t hurt, either.

    I can vouch for that.

  308. chicagofinance says:

    WSJ
    EUROPE NEWS
    APRIL 9, 2010
    Greek Bond Woes Spread Markets Fall on New Bank Fears, Ratcheting Up Pressure on EU; ‘End of the Line’

    By CHARLES FORELLE and MARCUS WALKER
    Concern over a potential liquidity shortage at Greece’s private-sector banks fueled a sharp selloff in Greek debt and equity markets Thursday, suggesting that the European Union’s efforts to defuse the crisis with a vague promise for an International Monetary Fund-backed rescue have all but failed.

    Markets signaled fresh worries that Greek banks are having trouble meeting immediate funding needs, after the country’s top four banks on Wednesday asked Athens for access to an emergency government liquidity facility. Greece’s banks have been widely viewed as one of the few bright spots in the country’s financial infrastructure.

    “This is clearly a sign that the Greek authorities have reached the end of the line and need to make a phone call to the IMF,” BNP Paribas analysts wrote in a note Thursday morning.

    Greek bonds fell for the seventh straight session on Thursday and the Greece’s benchmark stock index tumbled. The yield on Greece’s 10-year bond, a reflection of both the country’s borrowing costs and the risk investors associate with its debt, hit its highest level since the introduction of the euro.

    More alarmingly, in a sign Greece may have difficulty finding money in the nearer term, investors drove the interest rate of the Greek two-year bond to 7.45% Thursday, 6.64 percentage points more than what Germany pays. That gap was 5.68 percentage points just a day earlier.

    The euro slumped early in the day, though it rose after Jean-Claude Trichet, the European Central Bank president, said Greece wouldn’t default. Any signal from the EU that it was preparing a rescue would likely stabilize the markets further, at least in the immediate term.

    The latest turmoil comes despite the EU’s much-touted promise late last month to team with the IMF to intervene to save Greece from default if “market financing is insufficient.”

    Germany and France, the euro zone’s dominant members, believed that the assurance would be enough to persuade jittery markets that the EU wouldn’t allow Greece to default.

    Yet many investors expressed disappointment that the EU didn’t offer a more detail on terms of the potential loans. Greece’s equity and bond markets have been in a steady decline ever since.

    In a sign of crisis’s vicious-cycle nature, Thursday’s bank worries helped sink the price of Greek government debt, which means the interest rate Greece must pay to attract borrowers was knocked higher. The yield on Greece’s 10-year bond hit 7.38%. Bank stocks slumped 6% in Athens, dragging down the broader market 3%.

    “EU leaders can try to convince markets that just having a mechanism in place will be enough,” says Fabian Zuleeg, chief economist of the European Policy Centre, a think tank in Brussels. “I’m finding it increasingly unlikely that the markets will believe it.”

    The stress on Greece’s banks could force Germany and fellow euro-zone countries to finally step in with a rescue, analysts say. Germany, which would have to pay the lion’s share of a bailout, has until now argued that as long as Greece’s banking system remained stable and Athens was able to raise funds in the capital markets, Greece’s problems weren’t serious enough to merit a rescue. Yet the potential failure of one or more Greek banks, which the government might be powerless to prevent due to its own troubled fiscal state, would likely pose a more fundamental threat to Greece’s economy.

    Greek riot police guard a closed bank branch during a demonstration in Athens by civil servants against the government’s recent economic austerity measures.

    “The problem is metastasizing from a purely fiscal issue,” said Stephen Jen of the London hedge fund BlueGold Capital Management.

    That reality may lead the EU to either offer Athens a bailout or force Greece to restructure its debt. The latter step would mean debt investors would have to accept painful losses on their investments, an outcome many in Europe have hoped to avoid for fear that it would undermine confidence in the euro.

    Jon Levy, an analyst at New York-based consultancy Eurasia Group, says banking-sector concerns “could prompt the Greek government to seek an IMF arrangement more rapidly” than it intended to.

    Greece’s four biggest banks asked the government for permission on Wednesday to tap €17 billion ($23 billion) in unused liquidity measures from Greece’s banking-sector support scheme, mostly consisting of state guarantees for banks’ bonds.

    The Greek state guarantees would allow banks to use up to €14 billion of their own bonds as collateral with the ECB. The government could issue bonds to cover the remaining €3 billion. The banks haven’t carried out such a transaction so far, but rather have prepared the option as a “safety net,” according to Greek banking officials.

    Extra ECB funds could help Greek banks to compensate for their steady loss of access to international repo markets, in which banks raise short-term funds from other banks. The repo market has “almost gummed up” for Greek lenders, one Athens banking official said.

    ECB president Mr. Trichet offered a mix of verbal and concrete support Thursday for Greece and its banks. A Greek default “is not an issue,” he said at his monthly news conference. He also confirmed the ECB would maintain its relaxed collateral rules into next year, removing a source of uncertainty for Greek Greek banks that rely heavily on Greek government bonds as backing for cheap ECB loans.

    Doubts over when the EU could come in to help, and at what terms, have hammered Greek bonds for days. April is a crucial month, with a sequence of Greek treasury bills maturing beginning next week, and then an €8 billion bond coming due the week after. Greek officials insist they have enough cash to pay those bills.

    May is another matter. The biggest redemption that month comes on May 19, for €8.5 billion. Greece is all but certain to have to borrow or seek aid before then.

    In pledging their support last month, EU leaders hoped to reassure investors that something would be done to prevent them from losing money in a Greek default. That, in turn, would bring down the amount of interest Greece has to pay to attract investors.

    Dispensing aid to Greece would require approval of all euro-zone leaders, which means German Chancellor Angela Merkel, reluctant to bail out a free-spending peer, has an effective veto. EU officials remain wide apart on what should trigger a bailout.

    Despite the danger signs in the financial markets, many investors find it hard to believe that the EU will let Greece fail.

    “Greece is part of the EU, and the Europeans have a huge imperative to sort this out,” said Jon Taylor at Principal Global Investors in London. “It took 30-some years to get where they are now, and they’re not going to let a country that represents 2.5% of the EU’s economic output derail the project.”

    Mr. Taylor said he was buying short-term Greek debt on Wednesday when prices plunged.

    Even if Greece gets a loan package from the IMF and euro-zone governments, its debt crisis doesn’t end there. A potential package of €20 billion to €30 billion would get Greece through only the next few months. Its overall debt pile, at 113% of GDP and rising, would remain difficult to tame—especially since Greece’s austerity measures are pushing its economy deeper into recession, which makes balancing the budget harder still.

    “An aid package would only give Greece a bit of breathing space,” says David Mackie, economist at J.P. Morgan. Greece’s debt problem will be solved only if the country either implements austerity measures for long enough to cut its overall debts, or else sits down with its creditors and agrees on a debt restructuring plan.

    Such a restructuring would involve bondholders agreeing to cut the amount Greece owes them, as a way of avoiding a unilateral debt default that could inflict still-greater losses on bondholders. A restructuring “wouldn’t be a panacea,” says Mr. Mackie: Greece would still need to borrow fresh funds every year to cover its deficits and could soon find itself in a similar crisis.

    “A debt restructuring would be a disaster,” says Yannis Stournaras, director of the Foundation for Economic and Industrial Research, an Athens think tank. Borrowing costs for Greece’s government and companies would be significantly higher for years to come after such a step, as investors demanded an even-higher risk premium for lending to Greece.

    “A restructuring would bring a short-term benefit but a heavy long-term cost,” Mr. Stournaras says.

    —Michael Wilson, Nina Koeppen, Brian Blackstone, Alkman Granitsas and Adam Cohen contributed to this article.

  309. Final Doom says:

    chi (313)-

    How does it feel to have your academic life moving toward junk status?

  310. Final Doom says:

    Dang. And that bathroom attendant told me to short Cornell a couple of weeks ago…

  311. :) Good point . You are absolutely right.

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