From the Record:
Christie recommends eliminating affordable housing agency, law
Governor Christie on Thursday recommended eliminating the Council on Affordable Housing and repealing the Fair Housing Act, the agency and law that largely guided housing development across New Jersey for the past 25 years.
Describing the changes as a shift from state to local control, the Republican governor endorsed a system in which towns — rather than the state — would determine how much low- and moderate-income housing they need. The plan, which needs legislative approval, would require future projects to either include affordable housing or require developers to pay into a fund to build affordable housing elsewhere.
“This is about getting Trenton the hell out of the business of telling people how many units they’re supposed to have — some arbitrary, ridiculous formula that nobody could ever explain,” Christie said. “We need to lift that wet blanket off of the municipalities and put the people who were elected back in control of making these decisions. And I believe that they’ll approach that in a fair and responsible way after having been put upon for so long with controls — undue controls — from Trenton.”
The proposals immediately drew praise from municipal representatives, but criticism from affordable housing advocates and environmentalists. “Affordable” means monthly housing expenses eat up only 28 percent of renters’ incomes and 30 percent for homeowners, including rent, mortgage, utilities, homeowners association fees, insurance and property taxes, according to the state.
Advocates said the move would return the state to practices that occurred before the state Supreme Court’s Mount Laurel decisions, so named for the township that was sued for its zoning policy. The courts said a town’s poor residents needed a “realistic opportunity” to live in an affordable home, and towns needed to also take surrounding towns’ needs into consideration. The decisions sparked a generation of lawsuits.
“The reason the court acted the way that it did was because towns were not giving families the opportunities to have the kind of housing they could afford,” said Kevin Walsh, the associate director of Fair Share Housing Center, a nonprofit organization dedicated to defending Mount Laurel. “We’re not sure why the governor thinks that we can go backward.”
FRIST!!
Wouldn’t this create a barrier of entry for some types of people? I’m talking about racism.
Wouldn’t this create a barrier of entry for some types of people? I’m talking about racism.
Really any different from a wealthy town paying off a poorer town to take their low-cost housing obligations?
Besides jp, classism is the new racism. It’s not about color anymore, it’s all about wealth and outward conspicuous display. As long as you dress and talk the right way, have the right job, drive the right cars, and have attended the right schools, you are welcome here!
Gotta pay the tax man…
From the Daily Record:
Chatham man charged with having pot manufacturing facility in million-dollar home
f’n aye grim
From Bloomberg:
U.S. Home Seizures Reach Record as Recovery Delayed
U.S. home foreclosures climbed to a record in April, a sign that government mortgage relief efforts have yet to turn the tide of property seizures, according to a report by RealtyTrac Inc.
“Right now it appears that the banks are focusing on processing the loans already in foreclosure, and slowing down the initiation of new foreclosure proceedings as a way of managing inventory levels,” Rick Sharga, RealtyTrac’s executive vice president, said in an e-mail. “We’ll probably see this trend continue for a while.”
Bank repossessions rose to 92,432 in April, up 45 percent from a year earlier, Irvine, California-based RealtyTrac said today in a statement. Foreclosure filings, including default and auction notices, fell 2 percent to 333,837. One out of every 387 households received a filing.
…
Monthly foreclosure filings will remain “at a very high level that will not drop off in the near future,” James J. Saccacio, RealtyTrac’s chief executive officer, said in the statement. April marked the 14th straight month that foreclosure filings exceeded 300,000.
Hey but don’t we still need more affordable housing in towns with no jobs and no access to public transportation?
Dont we need affordable housing for people with jobs?
Don’t we need jobs?
How about abolishing the State Dept of Education? Surely the locals handle that one too.
How about we dump County government while we are at it. Not sure what they bring to the table other than excess taxation.
grim #10
Don’t we need jobs?
not if you own a house.. or the bank does
Abolish all gubmint. Anarchy!!!
We’re on a trip straight back to the 16th century. Why don’t we get some savings along the way?
Barb, if you go into blacksmithing, you should also become a farrier. My horses are gonna need quality footwear.
Cash-for Trash, international style:
“The first bill to US taxpayers for volunteering to bail out Europe is in. It appears in the past week the New York Fed executed an FX swap with the ECB for $9.2 billion notional of FX swaps. As we reported earlier by demonstrating the lack of bids for the BOE’s dollar repo operation, only the ECB is (currently) in need of dollars. Yes America, in addition to the IMF contribution of ~$50 billion, with each passing week you will see more and more billions of dollars collateralized by a rapidly devaluing foreign currency serve as the backstop for your currency.”
http://www.zerohedge.com/article/first-fed-invoice-bailing-out-europe-damage-92-billion
When thing thing finally blows, every piece of bad debt and worthless paper on the planet will be on FedCo’s balance sheet.
Essex good ideas. Let’s seceed from this communist union on a county by county level. Then let’s form a coalition of the willing and invade montclair.
Al…you slay me.
But we are out of money. Kill the cows.
F Doom, you really need to get your own talk show.
You’re almost more entertaining than Joad Cressbeckler.
Doom is a cross between Dr. Phil and Atilla the Hun.
Obama and Sinclair…had a steamy love affair….
Final Doom says:
May 14, 2010 at 7:04 am
Abolish all gubmint. Anarchy!!!
We’re on a trip straight back to the 16th century. Why don’t we get some savings along the way?
Barb, if you go into blacksmithing, you should also become a farrier. My horses are gonna need quality footwear.
Essex says:
May 14, 2010 at 7:35 am
Doom is a cross between Dr. Phil and Atilla the Hun.
SX: No clot is a cross between Woody Allen and Travis Bickle.
Essex says:
May 14, 2010 at 7:35 am
Doom is a cross between Dr. Phil and Atilla the Hun.
SX: No clot is a cross between Woody Allen and Travis Bickle.
Clot,
I Bergen County everyone will have their horses serviced by Manolo Blahnik Farriers. Footwear for the fashion-forward horse.
chip and dale….
http://www.youtube.com/watch?v=NWYxEGs9y5Q
Yesterday Thanks for the condolences guys.
Hyde when we get settled in two months I’ll let you know we can go dust some clay birds at black river
Doom is a cross between Wally George and Moses.
#26 Painhrtz,
congrats. When are you going to do your first heloc and tap that equity? :P
Pain:
Congrads to you. As long as you are happy and can stay in the house for the next 20 years you will be fine. Go have some fun.
Dont we need affordable housing for people with jobs?
The market will provide affordable housing if you let it. The bubble of the past decade is an anomaly and in the process of being corrected. Smaller, more efficient and affordable homes are the new “McMansion” in many places.
Our economy needs cashiers and bus boys and these people need to live somewhere. The market will either provide affordable housing or wages will rise until housing becomes affordable (like in Japan). In either case, the market will reach equilibrium if you let it.
That being said, true market-based affordable housing doesn’t mean one has the right to own a single family home in the neighborhood of their choice. It may mean sharing a rented apartment in a less desirable location.
I would love to see what happens when homes are seized due to tax liens. Talking about a catalyst for violence.
http://www.reuters.com/article/idUSTRE64C67Q20100513
Measure to boost capital levels passes Senate…
and @ WSJ – Rating Agencies Face Curbs
64-35 vote on Thursday…
At least they aren’t shooting down everything…
Knife Catcher Painhrtz
Congrats to you. I actually think this is a good time to buy a home.
http://www.minyanville.com/businessmarkets/articles/mastercard-visa-bank-of-america-jpmorgan/5/14/2010/id/28301
And this…
New Debit Card Rule Could Affect Biggest Banks
Busy day yesterday…
All we have to do now is continue to vote out incumbents and see if these DC dudes eventually start to catch on…
NJ Escapee,
Fun news on the guitar front. Last night, I got on a several hour long roll and at the end I realized I had blisters on my fingers at the edge of a couple of calluses. Good times.
It made doing scales this morning a little painful, but it was worth the zen yesterday.
Safe I alwasy wanted a boat ; )thansk again again guys PITI is right wher eit should be with one salary kno we will probably take a loss when we move but I’m not going to be staying in Nj after my next move.
“Measure to boost capital levels passes Senate”
Does this require them to use real capital or may they do like the Fed and take used tires, broken VCRs, etc.?
35. Jam on!
1 trillion $ lost tax revenue$1 Trillion Offshore
U.S. companies amassed at least $1 trillion in foreign profits not taxed in the U.S. as of the end of last year, according to data compiled by Bloomberg. That cumulative total, based on filings by 135 companies, increased 70 percent over three years, from $590 billion in 2006.
While some of the offshore earnings reflect sales abroad, much of the growth results from expanding use of transfer pricing, said Martin Sullivan, a tax economist who formerly worked for the Treasury Department and Arthur Andersen LLP.
The system allows for creating paper transactions between subsidiaries of the same company to allocate expenses and profits to selected countries. For instance, when technology firms license their patents to offshore subsidiaries in low-tax countries, profits from sales overseas are booked to the foreign units, not the U.S. parents. The tax savings add to profits.
http://www.bloomberg.com/apps/news?pid=20601109&sid=a7td7E8_4EeI&pos=10
http://www.huffingtonpost.com/2010/05/14/senate-approves-new-curbs_n_575895.html
Another look at the rating agency vote – d@mn….
[14] doom
I once represented a farrier in NH. She did well for herself as there were only a handful in the state.
A reminder to those of us who are members of the bar, and an explanation to those of you who wonder why our posts are cryptic or incomplete sometimes:
“Lawyers who are more circumspect in person are making online mistakes that are landing them in trouble with ethics officials.
James Grogan, chief counsel of the Illinois Attorney Registration and Disciplinary Commission, recalls an early case that got the attention of bar counsel in more than one state, the National Law Journal reports. Steven Belcher, a temporary lawyer at a St. Louis law firm who was licensed in three states, was helping defend a wrongful death case when he decided to e-mail a picture of the deceased to a friend, the story says. The body of the overweight man was pictured lying naked on an emergency room table. Belcher added his own commentary.
The result was a 60-day suspension, the story says. “It got our eyebrows up,” Grogan told the publication. “We thought, ‘Wow, are we going to see more of these?’ Well, I think it’s clear we are starting to see more.”
The story notes an increase in interest in the issue. Bar associations and bar counsel hold seminars on online ethical mistakes, and the ABA Commission on Ethics 20/20 will consider whether existing ethics rules adequately address online transgressions.
“It’s not as if lawyers never misbehaved before,” the story says. “But now they’re making the same old mistakes—soliciting for sex, slamming judges, talking trash about clients—online, leaving a digital trail for bar counsel to follow.”
The story summarizes other online foibles, including these:
• A Chicago immigration lawyer posted an ad on Craigslist seeking a secretary and asking for measurements and photos. In a follow-up e-mail, the lawyer said one of the job requirements would be “sexual interaction with me and my partner.” The disciplinary penalty is pending.
• A Florida lawyer called a judge an “evil, unfair witch” on his blog. He was reprimanded in April 2009.
• A Tampa lawyer listed four lawyers who weren’t licensed in Florida as attorneys on the website for his law firm. He was suspended for 90 days.”
[39] yome
Transfer pricing is a HUGE issue, one that is not on MSM’s radar, or on the radar of the sheeple, from rad-lib commies to TEA partiers.
In the tax world, however, transfer pricing is like the mideast: a perpetual war between the multinationals and the IRS.
Nom 42
When did john get into immigration law in Chicago?
[26] pain
Clay birds? I feel left out, and I so wanted to break in the new 12 guage.
pain,
Sounds good
[44] Hyde
Now you’ve done it. You used John and “get into” in the same sentence.
Expect a donkey punch reference from JJ any moment now.
Anyone see Germany and France are pushing for legislature to reduce hedge fund leverage and increase disclosure? I wonder if this cause some hedge funds to relocate to the US?
“Fun news on the guitar front.”
Shore,
How about Jersey Girl, on the beach, with NJC and some tini’s?
[12] essex
That’s precisely what happened in Taxachusetts. County governments, which were not nearly as large as here, were effectively gutted, and counties were just lines on a map. County commissioners found themselves out of jobs. As a result there are no county tax components.
County courts are administered by the state, and the county sherriff’s offices are administered through the courts, which rely on fee income as well as state tax revenues.
Weld did the same thing at the state level, consolidating state agencies, especially the police forces. The Registry of Motor Vehicles, State House, and the Metropolitan District Commission (called the MDC, controlled parks and reservoirs) all had their own police. Weld abolished them, and transferred the cops to the State Police, a much tougher outfit.
Lots of bleating from the unions, and lawsuits by cops (especially the MDC cops, or “millons of dumb cops” as we called them) who had to lose weight, pass physicals, and shave off mustaches, but in the end, they lost in court. Got rid of a lot of bad cops, and saved a ton of money in the process.
Good times. A shame that Weld got out of politics.
[48] safe
They will relocate, but not to the US.
Good lord, my spell checker must be set on idiot today.
Shore, (35) keep that up and before you know it you’ll be playing like the great John McLaughlin.
I like cheese.
Safe [48],
Nobobody complains when leverage produces large gains. Do they mean leverage or short sellers?
Whether it’s Bear, Lehman, AIG, Iceland, Greece, UK, etc.., it always the result of that evil wolfpack, short sellers. Short sellers don’t produce the cancer, just serve to metastasize it
Euro 124.20, damn short sellers.
Has anyone heard about this real estate agency? GO KOOL LLC
Is it one of those that help FSBOs put thier home on MLS for a fee?
This listing is brokered by
GO KOOL LLC
Tax News of the Day:
Tell us something we don’t know!
“AMT Too Expensive to Eliminate,
Obama Tells Taxpayers in Buffalo
The alternative minimum tax cannot be eliminated because the nation’s deficit and debt are too big, President Obama said at a town hall meeting May 13.
“To eliminate it … would create this huge hole in the budget,” Obama said in response to a question in Buffalo, N.Y. Obama said that until a greater study of tax expenditures is completed, Congress must continue to “patch” the AMT by raising the exemption levels to match inflation, a move that keeps the AMT from creeping further into the middle class.
Wantan 55
I’m waiting to see what the ECB tries next since their phantom trillion EUR bailout got laughed at.
Doom,
My bad. I thought the crap paper would at least rally a day or two. Like I said, v*agra lasts longer.
The price for pretend is escalating rapidly. Unfortunately, the beneficiary, extend, is sucking it up at alarming rates. Cross rates, paper, no longer float. They all crash at various velocities.
Hyde [55],
Next attempt is total blowout, a realignment of the Euro. Fcuk the PIGS, go north. At that time, the evil wolfpack will target good faith and credit. Buckle up.
I notice that pretty metal is up and the online dealer mentioned here no longer has some items on its website that were there last night. Panic buying? A pump and dump? Or just normal fluctuation?
There is a place for affordable housing. It’s called Delaware.
Nom – How am I not surprised. The il duce pick list
Increase debt burden – check
Increase size of government – check
Prison $exing the middle class – check
Man that Louisiana guy someone posted yesterday is going to flip!
62-meter. Funny you say that. 4 out of 4 of my neighbors who are newly retired all moved out of NJ to Delaware. It used to be people talked about moving to N.C. or maybe closer to home to Pa., but now it seems to be Delaware.
49 BC Bruce
Two more weeks and I’m there!
Recession on?
Oil dropping like a rock.
No demand? Or some other reason?
sl
Doom – 58% of Baristanet readers are in favor of the new proposed millionaire’s tax. Just thought you might need another fun activity for this lovely Friday.
http://www.baristanet.com/2010/05/bring_back_the_millionaires_ta.php
Gator 67
Do you have to undergo indoctrination classes upon moving to montklair? Or perhaps they require a “Proper Thought” inquisition before closing?
From the Huffington Post:
On Monday, we saw Gov. Chris Christie joyfully defy that convention, too. He mocked Democrats in a press conference for a half-hour, as if the only deal he would ever accept with such clowns is their unconditional surrender.
He called their ideas “ridiculous” and “cute” and said they couldn’t do math. He accused them of pandering. He said they are faking when they complain that he doesn’t consult them. At every turn, he painted them as demons who are determined to drive the state into the ditch, not as partners with legitimate differences. […]
It’s an odd tactic, given that Christie needs the Democrats to achieve his core goals. Does he think slapping them around will win them over?
http://www.huffingtonpost.com/2010/05/14/chris-christie-pissed-video-nj-governor_n_576279.html
Hyde – in our defense, most of the comments on the thread are actually against the increase.
I think our best councilor is starting to get really frustrated.
The total amount of spending we must reduce in order to get to an 8% Municipal tax increase is $3.1MM.
Suggestions have been made by the manager, but not affirmed by the Council, that add up to $1.5MM or a Municipal tax increase of 11%. Add back in some of the library cuts, and the increase goes up from 11%.
I can’t seem to get anyone to hold this figure in their mind for longer than two seconds.
YOU HAVE TO CUT $3.1MM.
Cutting out $20K for the Arts Council, perhaps the only group doing “economic development” leaves you with $3.1MM less $20K. Quite a distance to cover! Dissolving the ENTIRE Recreation department and laying off everyone would save $300K.
And since the year is almost half over, any cuts are going to be doubly painful, i.e. twice as many layoffs, etc.
From what has been discussed, some of the money from the sale of Label Street will go towards operating expenses. Perhaps less than half.
There are many good points in the posts above. I particularly like the one about developers needing to make a profit. There has been a lot of talk that starts off “who cares if the developer makes a profit.” That’s not going to get us anywhere. Like it or not, private money drives development.
Aside from the “who cares” statements, I often hear “someone should” as in “someone should build (fill in whatever the speaker’s personal desire is.”
Cary Africk
http://www.baristanet.com/2010/05/plofker_bids_750000_on_label_s.php
NJC [65],
I’m there this year. Save a spot in your cabana.
BC,
That is a song I have never played, I will need to give it a try when I have an opportunity.
It is a lot more laid back than Rosalita, and likely better to strum while doing Pain Killers, etc.
” Save a spot in your cabana.”
I wish I had thought of a line like that back when I was single and prowling the boards.
Mr Wantan
Read the various rumors of India printing currency for a foreign sovereign on presses delivered from Germany. India has admitted to buying the presses from Germany and doing the printing but wont what foreign sovereign the currency is for.
Wonder who’s outsourcing the printing of what may be substantial amounts of currency.
Do we have a death watch on when Germany leaves the EUR/eurozone. Its in their strategic best interest to be the first to leave. There are also rumors of a german-Russo defense pact being inked.
So Germany’s predicament reminds me a lot of the moral hazard predicament that exists in this country, where those who played by the rules got fcuked. If they had balls, they would have bailed on the Euro months ago. Deep down, I really wish they bailed, but realistically, they won’t. Bergabe has shown the true power of quantitative easing and mark to market. How long before the European banks are stress tested?
Man is this all going to end so very, very badly.
gator (67)-
I was going to spend some quality Lee Harvey time in an upper floor window somewhere today, but I think I’ll head over to Baristanet and unload instead of some of the self-loathing collectivists there.
Libtard
I disagree. Germany will need to have well developed plans for leaving the euro as their currency would instantly spike in value and crush their export market. They need a plan to prevent the value spike while also mitigating potential currency retaliations by the other EU nations, until the DM/EUR exchange stabilizes.
Realistically the EUR will plummet the second Germany leaves the EUR which would save the German banks over night as the EUR devalues and act as a boon for German businesses who would see their debts evaporate.
Anyone with the slightest advance knowledge of such a move would profit handsomely
Its only a matter of time. Notice that there have been reports of the German population making record purchases of physical gold int he last few weeks. The local feeling is that the euro is toast and they are prepping for that.
A treaty of some sort with Russia would also ensure its energy supply in any subsequent economic turmoil. The Nord-stream pipeline from Germany to Russia is well underway and could insulate Germany from a fair amount of the standard euro energy drama between Russia and Europe.
Who will bail out the countries that bailed out the world’s corporations?
The financial crisis never really went away.
The debt mountain that brought down some of the world’s biggest banks and dragged the international financial system to the brink of disaster has simply shifted to governments. Now, it’s threatening countries around the globe and if left unchecked could rip the very fabric of Europe’s economic system and wreck economic recoveries in the U.S., China and Latin America.
The impact on markets has been severe. The euro has slumped more than 12% against the dollar since the sovereign debt crisis flared in southern Europe. Gold has marched to new highs as investors seek a safe haven and, perhaps most alarming, it is now more expensive to buy insurance against national default than it is to insure against corporate failure.
“The sovereign debt crisis spun out of control in the past week, and we see no easy way to resolve it,” said Madeline Schnapp, director of macroeconomic research at TrimTabs Investment Research.
Some investors and analysts are increasingly concerned that governments may be no more capable of repaying their debts than the banks and insurance companies they saved. And, they warn, if a major country comes close to default, it could trigger a financial meltdown that would eclipse the panic that followed the bankruptcy of Lehman Brothers in 2008.
FD,
You need to attend a town-council meeting first-hand to witness this BS in real-time. Outside of Roger Terry (former 2nd in command of police in Montclair and collecting a 6-figure pension) and Rene Baskerville (doctor), I would bet the other five either inherited their wealth or in the case of Weller, married into it. These guys are so out-of-touch with reality that it is astonishing. The only thing worse is that probably three quarters of the constituency are equally lost.
Confused [78],
A long time ago, some nut on this site, stated that sovereign debt will be the new subprime.
The experts devised a grand plan to hide sh#t paper with more sh#t paper. Yet, the underlying problems actually worsened. The worldwide economic, social and political structure is built on a foundation of toothpicks. It’s the great race to the bottom. Print or die. Last one to crater loses.
Just for fun, anyone remember their WWI history. Compared current events to the lead up to WWI.
time to call the PPT in from lunch break?
eesh.
sl
So Hyde we will see flappers in China? As they are the only nation which resembles the early twentieth century US production wise.
Unless all of the western nations get pols who are leaders not panderers I think the coming dust up is going to make WWI look like a regional insurection.
I’ve been tracking my ancestor on ancestry websites. Found my great grandfathers draft registration card from back then!
Found lotsa cool stuff and so far managed to find my great great grandparents but struggling to find Galicia records from lat 1700s or very early 1800s
It’s been eye popping though….and kinda fun, too.
sl
yep. my typo-editor is on vacation.
*ancestor*S*
*late* not lat
sl
“There are also rumors of a german-Russo defense pact being inked.”
This makes sense as the 1939 Molotov-Ribbentrop accord worked out so well for everyone involved.
BC,
Thanks a lot. I have had that Waits song bouncing through my head since you mentioned it. It sounds like it is just a DGA (with some variations here and there). I may need to knock off early to give it a go later today.
76. Lee Harvey, you are a madman. When you stole that cow, and your friend … I want to party with you, cowboy. If the two of us together, forget it
Shore,
germany appears to be tiring of NATO and the redheaded step child syndrome europe imposes on it.
There ‘is’ something about this guy that I find appealing…..
http://www.youtube.com/watch?v=gsdqfVA3fqk
Hyde [81],
Regarding history;
The Schroeder’s have lost their life savings twice; hyperinflation in the 1920’s and currency reforms after WW 11. They were fed a line of sh#t from Kohl pertaining to the costs and sacrifices of reunification. Watch the German Supreme Court; rumor has it they are strapping up their boots.
We are witnessing a slow motion train wreck.
Pain 83
Nope, china only resembles the US in terms of production. Its population and political dynamics are substantially different and potentially unstable.
[88] essex
Lighten up, Francis.
Got to work now, and di-di early today. Great weekend, all.
Speaking of Tom Waits. Perhaps he has the perfect song to for those who are upside-down on their mortgages:
Way Down in the Hole.
Wantan
The population is quickly tiring of being the whipping boy as well. They have not forgotten that for much of history the germanic people were a regional power who stood on their own. Nationalism is lurking.
I winder how long it takes for all of the centuries old blood between the euro nations to resurface as the EUR collapses.
Ket,
Nato is actually good for Germany. The real issue, like with many of us here, is that they have done everything right with respect to working hard and playing by the rules and they are being asked to bail out those who were reckless — all for the good of greater-Europe. Germany does not need a united Europe. It educates its citizens, its workers are productive, and it is a financially-prudent place whose products are in demand by nyone who wants quality. Inside Europe or outside Europe, Germany will be fine. They also know that however warm relations may grow between it an Russia, cold the winds can suddenly blow in from the Urals.
Ket,
The bellweather will be to see what Germany does with the Turks within Germany.
NJC,
I hear Southside is playing the Pony soon.
Wantan.
more rumors…
Sarkosy supposedly threatened Merkel with “OR ELSE…we pull out of the euro” if they didnt back the phantom trillion $ bailout. From a historical perspective that was quite ballsy of France. Historically such confrontations dont end well for France.
It’ll be a heck of a weekend when Germany leaves the EUR
Shore 97,
I dont see Germanic nationalism as evil or bad, it just is. They are historically a proud/dominant population.
I suspect much of eurpoe will tend towards nationalism and clamp down of muslim populations when the $hit starts to hit the fan.
Native europeans and muslim immigrants have fairly different cultural perspectives as well as different cultural baggage on both sides.
From that perspective Sweden will be an interesting place to watch.
France is in way more deep doo-doo if the Euro fails than Germany will ever be. I am suprised the Germans are even still at the table.
Shore I never got people’s fascination with Tom Waits i just don’t think he is that good.
Then again the same could be said about my obsessiveness towards The Clash.
Hyde – Europeans truly fear a strong Germany, but tolerate them due to their prudence and industriousness. If they pull out of the EE like a frat boy without a condom, it is going to go from slow motion train wreck to full on shooting war.
Fcuk the French. If it wasn’t for us, they would be drinking Beck’s rather than Pouilly Fuisse.
Mr Watanapolous – Point that out in Paris it is really fun!
102. His writing.
“fairly different cultural perspectives”
Understatement of the year.
I am not a paticular fan of Waits voice but he can write.
Waits’ even
Dont bet against the horsemen. Our destiny awaits us.
Euro/USD 124.04
Resistance at 120 and 115 then we nose dive to parity. Once accomplished the shores of the East Coast will be invaded by the horsemen of the apocalypse spreading their wrath upon dollar.
This morning I pulled 40 Federal Reserve Notes out of an ATM but before I did I donated 2 FRN’s to my new masters. A sick feeling entered my stomach and the rest of the day was spent in disgust. There is only one cure for this ailment. I have to go home and make love to my shiny.
109
but not before a stop at Sonic and then Quick Check for some scratch offs and Tastycakes.
Im thinking about establishing the position in miners after the market crashes but Ill go in small here.
Wanta(104)
They would have been better of with Becks.
110.
Barb,
lol. Offering a tasty cake to someone around here is like asking for a sucking chest wound.
Driving home from work I got real twitchy and had to go down to the PD to pick up a couple pistol permits. Some people drink, others pop pills. I find comfort in guns and ammo.
Comments? Price seems ambitious for Spring 2006……
http://www.realtor.com/realestateandhomes-detail/102-W-Broad-St_Hopewell_NJ_08525_1118608412
always grabbing, never looking for real solutions
http://www.cnbc.com/id/37108812
Make [104],
Green and gold, one of my fav color combinations.
113.
sure.
Hyde,
Did you see the report that its 70,000 barrels a day gushing in the gulf?
Heres a pic of the sea floor.
http://3.bp.blogspot.com/_3-h7k_OIJk0/S-1k3wbMeVI/AAAAAAAACs4/6wXppEJfWPQ/s1600/gusher.jpg
Shore Guy,
What kind of guitar did you get and how do you like it?
Gary,
Check out the price change on this beaut. That’s the kind of aggressiveness that will catch a buyer’s eye.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1002438&countysearch=false
Simone laying the fat thumb on that listing.
hyde (95)-
About two days.
“I winder how long it takes for all of the centuries old blood between the euro nations to resurface as the EUR collapses.”
Cause $699,731 is so much more below $700,000 than $699.990! You’ve got to be kidding me. I really hope that’s a typo.
Currency Failure Friday!
Euro = 1.238
I cannot wait for the next trillion dollar bailout this weekend.
125.
Hype,
1 trillion got us 5 days? The European Unisexers arent as gullible as the American brainwashed tit suckers.
Rick Santelli just told the world on cnbc that the gld is a problem because they dont have the gold.
Oh boy, the last time Santelli opened his mouth he gave birth to the tea party.
Trying to find the video.
WTF,
A Martin. I like it very much.
Cindy,
Here is some good news for you (as a taxpayer, anyway):
“Schwarzenegger Budget: No New Taxes, Deeper Cuts
SACRAMENTO, Calif., May 14, 2010
Gov. Arnold Schwarzenegger releases his revised budget plan for the coming fiscal year Friday, one that is expected to propose deep cuts across most state agencies and call for eliminating many health and social programs for the poor. With unemployment remaining high and tax revenue low, California will face a deficit of more than $20 billion – a quarter of all general fund spending – in the fiscal year that begins July 1. “We’re not going to get through the deficit we have without some really tough decisions and some really terrible cuts,”
Nutcase or criminal?
Reports: British Lawmaker Stabbed in London
LONDON, May 14, 2010
A British lawmaker was stabbed Friday during an advice session with his constituents, Labour Party officials said Friday. Stephen Timms, the member of Parliament for the constituency of East Ham and a former Treasury secretary, was being treated at the Royal London Hospital after the attack, a statement from the Labour Party said. Timms, 54, was taken to the Royal London Hospital with injuries that are not believed to be life-threatening. “He has received visitors and is in good spirits,” the statement said. A spokesman for London’s Metropolitan Police said a 21-year-old woman was arrested in connection with the incident.
snip
130.
Shore,
Hero.
118 Al
I posted it last night. My original info was that the flow was in the 50,000 barrel range as soon as the ship went down.
Its an interesting situation. No one is completely sure how high the flow could go is it were completely unrestricted. No well that i know of has even been opened full bore. Doing so drastically shortens production life of the well/formation ( unfortunately that wont help the spill). Given the sand in the oil flow and the high pressures it is probably rapidly eroding the steel pipes. It it erodes enough steel to become an unrestricted floe before the can drill the intercept well then the numbers could go even higher.
Exxon valdez is going to be a puddle compared to this. There are signs that the lower levels of the food chain in the gulf are already starting to have problems. That is very bad news.
Pain 102
Europeans truly fear a strong Germany, but tolerate them due to their prudence and industriousness. If they pull out of the EE like a frat boy without a condom, it is going to go from slow motion train wreck to full on shooting war.
Germany knows that. Perhaps the treaties with Russia are more then rumor, they have been building strong ties for years now. if they have a secure energy supply and a strong currency/industrial section they have a huge advantage of an antagonistic Europe that has an uncertain energy supply and weak economy.
Hyde,
I also said the initial leak was most likely in the 50K per day area. How did I figure this out? Well mostly I took what BP estimated and multiplied that number by ten. I also have a teensy bit of knowledge in this area from investing in drillers for years. Never liked the risks associated with deep-sea drilling. Don’t feel so great being vindicated though.
AL,
Another fun point to think about.
Per BP, they have used 372,000 gallons of disspersant. Some of the compounds used are quite nasty…..watch out for unintended consequences.
http://www.huffingtonpost.com/2010/05/05/gulf-oil-cleanup-untested_n_563893.html
Al,
with all of the dispersents they are using saw bye bye to the a large chunk of the gulf seafood business for the next decade. Thee will be of course be lots of questions of the viability of the remaining seafood industry due to the reaming catch bioaccumulating toxins from the oil and from the dispersants.
They should have already nuked the well. It would cause less long term damage.
Hype,
I will be shocked it the ECB doesnt try another bailout of sorts over the weekend, they are close to entering free fall.
I immediately though daisy cutter when the news broke. Hyde, don’t bother with a paragraphs long response, I’m no munitions expert.
anyway, this thing is going to make the dust bowl look inconvenient. Media coverage is scant.
Hyde,
That would bolster the NJ fishing industry in the f_ckin UN and the G_d dam government would let us.
Al,
eventually it would all fall victim to overfishing. We will all get burnt by this,
So which is safer to eat now, gulf shrimp or chinese shrimp????
I know you free market, liberty loving types don’t like to hear about things like ecological balance, because Sting is into it and Sting is a puss, but its true.
Chifi
The most recent data seems to suggest that the root cause is the failure of the cement job done by haliburton. The accident happened because there were failures by BP, Cameron, and Transocean as well. But the root cause appears to be a failed cement job.
Barb
ecological balance. The free market will address that ala WWIII. dropping the human population by a few orders of magnitude will solve a significant # of issues.
Hyde,
Regarding nuking the well. I agree that it would cause less long term damage considering most of our fish are already toxic with heavy metals but why not use a massive conventional bomb? Its not like we have to carry it in a plane. Just drop 100,000 pounds of tnt on the b_tch and be done with it.
Its always problem reaction solution bro. Every problem is created to some other gain no matter the consequences.
143.
Barb,
Local fisherman are the best stewards of the habitats they fish. Their livelihoods depend on it. The UN is a bunch of pedophile, criminal, perverts who deserve to get what they got coming.
The yield on the 10-year Treasury note that matures in February 2020 fell to 3.43 percent Friday from 3.53 percent late Thursday.
147.
agree about the locals, but the trowlers are killing it all. I feel for those families in the gulf and I respect fishing economies and families.
AL 146,
You have to fit it down a hole…. 100KT of TNT wouldnt fit down the hole in the right geometry to create the needed effect. There is also the issue of blast characteristics in those deep water conditions.
you might find this interesting:
http://en.wikipedia.org/wiki/Operation_Plowshare
148.
What are 30 year rates going for?
If folks havent locked in their long term debt by now then they are clueless.
Its simple if you have a mortgage and are/were responsible.
Lock in your long term debt. Go long metal bullion and shares. Liquidate some at the peak (we are nowhere near it). Wipe out your mortage, accept the loss in home price, and live happily ever after.
Re: Local fisherman are the best stewards of the habitats they fish. Their livelihoods depend on it.
There are also fisherman that are greedy and only focused on their short term well beings.
152.
Im sure there are as in any business but no activity polices itself as well as local fishing industries.
If you steal a lobster pot you are going to drown if you cant swim to shore. Everyone knows this. Similiarly, all the data shows that a well armed and open carry society diminishes violent crime.
“Similiarly, all the data shows that a well armed and open carry society diminishes violent crime.”
I would love to see this data.
There’s a lot of data out there that shows that an unarmed society has homicide rates that are nearly undetectable.
And I support guns. What I don’t support are blatant lies.
Stu,
There’s a lot of data out there that shows that an unarmed society has homicide rates that are nearly undetectable.
I have not seen that data before and would be interested in it as well…..
Stu,
Did you get gator a Mossberg 930PX for mothers day? With matching low recoil 00 shells…
Gouda cheese is especially tasty.
They found the guy with the FAT finger ..A big mystery seller of futures contracts during the market meltdown last week was not a hedge fund or a high frequency trader as many have suspected, but money manager Waddell & Reed Financial Inc, according to a document obtained by Reuters.
Waddell sold on May 6 a large order of e-mini contracts during a 20-minute span in which U.S. equities markets plunged, briefly wiping out nearly $1 trillion in market capital, the internal document from Chicago Mercantile Exchange parent CME Group Inc said.
The e-minis are one of the most liquid futures contracts in the world, providing holders exposure to the benchmark Standard & Poor’s 500 Index. The contracts can act as a directional indicator for the underlying stock index.
Regulators and exchange officials quickly focused on Waddell’s sale of 75,000 e-mini contracts, which the document said “superficially appeared to be anomalous activity.”
..http://news.yahoo.com/s/nm/20100514/bs_nm/us_selloff_waddell
I am armed to the teeth, but I still don’t feel safe.
“There’s a lot of data out there that shows that an unarmed society has homicide rates that are nearly undetectable.”
153
How do you steal a lobster pot on a boat? Do you hide it in your shorts?
What happens if you steal it on land? Do they take you out to sea and then make you swim?
Get back to cleaning out the tanks at Point Lobster. The algae is building up.
Re: 153.
I respectfully disagree.
Tragedy of the commons is not a philosophical dilemma that is limited to grazing on public land. As the world population and demand for seafood grow, I wouldn’t place too much faith in the local fisherman to police themselves.
“How do you steal a lobster pot on a boat? Do you hide it in your shorts?”
Dipsh_t. Go back to watching tv. Maybe my mother will come over and pat your bottom while you suck your thumb.
Maybe my mother will come over and pat your bottom while you suck your thumb
Is that extra?
“Is that extra?”
Nice!
PPT on strike!will not pull it off at the last 30
Al how much does she charge?
The yield on the 10-year Treasury note that matures in February 2020 fell to 3.43 percent Friday from 3.53 percent late Thursday.
Shorts are the only one making money.mid grade bonds taking a hit too
Anyone has a video of Santelli telling the world to wait until everyone figures it out that GLD doesn’t have the physical to back it up.
I think it happened on CNBC this afternoon.
Local commercial fisherman generally will overfish of given the chance and have a need to and that is the risk. But for the most part in the US they pretty stringently follow their quotas for fear of fines.
The issue with over fishing is largely a non us issue, yest quotas and regulations are needed and should be stringent but the problem is the international boats who under lax regulation don’t even follow the generous quotas
I admit – I don’t get the nuke angle on the oil well.
Wouldn’t nuking it potentially open up the hole more?
Santelli today on GLD – monetizing paper and pretend it’s gold….there is not enough gold to satisfy…. He’s on at about 5:30 in the following clip
http://www.cnbc.com/id/15840232?video=1494145732&play=1
make you can find the GLD problem written right there in the prospectus. they admit it in clear english. Santelli is a spazz.
“Anyone has a video of Santelli telling the world to wait until everyone figures it out that GLD doesn’t have the physical to back it up.”
Make,
Old news. We have talked about this over the last 2 years. I pointed out to Veto, exactly where it stated the same in the GLD prospectus.
OOPS.
“I admit – I don’t get the nuke angle on the oil well.”
Plug it with tungsten.
What happens to the gulf remedition efforts when the storm start hitting.
I’m seeing lots of rescue plans that require a ship up top to operate machinery. Won’t they need to sail away,
Any repair effort needs to take place on the sea floor, and involve no overhead pumping.
That said, better get this fixed before hurricane season or itll be raining oil onthe gulf states.
guys- need help with Citi Thank You rewards.
I know they don’t do the straight up 1% cash back anymore, but are you getting a real 1% worth of purchasing power with regards to airline tix, hotels, etc? Customer service is glitchy today as I cannot log into my account.
98. Shore Guy
“Southside coming to the Pony”
Much better show will be Jeff Beck at the Paramount Theatre A.P. June 15th.
“Abolish all gubmint. Anarchy!!!”
Doom, you’re going to give yourself a stroke one day. As usual i need to be on record to say that i dont agree with anarchy. Govt at every level serves a necessary, valuable purpose to all our society. Anarchy would be the worst of all possible outcomes imagineable.
/Dislaimer off
Carry on.
Barb – Airline tix yes. Haven’t purchased hotels.
Stu has also sometimes found gift cards at the true 1% rate as well…although those are getting more rare.
“I pointed out to Veto, exactly where it stated the same in the GLD prospectus.”
Im surprised wantapolous doesnt still have the page number memorized.
https://www.spdrs.com/library-content/public/GLD%20Prospectus_3.19.2009.pdf
There is a solution for the leak.
If I only had a glass of cheap wine, it would be apparent.
Sane and straight, all I’m coming up with has to do with tires and long thin sticks. It looks like something made of tinker toy wheels with long yellow axles.
Sorry guys. Sometimes when I don’t sleep for a couple of days, the visions are crazy.
NJ Coast (179) went to a concert ages ago in Central Park wolman rink probably 69 or 70 where Rod Stewart was the front man and Ron Wood on bass.
Detroit to demolish 10,000 homes
WSJ DETROIT—Wrecking crews are preparing to tear down a landmark 5,000-square-foot house in the posh neighborhood of Palmer Woods in the coming weeks, a sign that Detroit is finally getting serious about razing thousands of vacant and abandoned structures across the city.
In leveling 1860 Balmoral Drive, the boyhood home of one-time presidential candidate and former Massachusetts Gov. Mitt Romney, Detroit is losing a small piece of its history. But the project is part of a demolition effort that is just now gaining momentum and could help define the city’s future.
Detroit is finally chipping away at a glut of abandoned homes that has been piling up for decades, and intends to take advantage of warm weather and new federal funding to demolish some 3,000 buildings by the end of September.
Mayor Dave Bing has pledged to knock down 10,000 structures in his first term as part of a nascent plan to “right-size” Detroit, or reconfigure the city to reflect its shrinking population.
When it’s all over, said Karla Henderson, director of the Detroit Building Department, “There’s going to be a lot of empty space.”
Mr. Bing hasn’t yet fully articulated his ultimate vision for what comes after demolition, but he has said entire areas will have to be rebuilt from the ground up. For now, his plan calls for the tracts to be converted to other uses, such as parks or farms.
Even when the demolitions are complete, Detroit will still have a huge problem on its hands. The city has roughly 90,000 abandoned or vacant homes and residential lots, according to Data Driven Detroit, a nonprofit that tracks demographic data for the city.
#114 renter
Well let’s see, you’ve found a wonderful house in prestigious Hopewell Boro. Its a commuter’s dream being that its right on Route 518. Don’t let that scare you, you’ll hardly notice the constant traffic given the national park sized third of an acre lot. And it has a garage, which is good because you’ll never be able to get a parking spot on the street. Sundays are particularly fun due to the three nearby churches that have no parking lots. All that can be yours for a price that would have been insane in 2006.
But it is close to Princeton. And that makes all the difference.
/off sarcasm
114. renter says:
May 14, 2010 at 1:07 pm
Comments? Price seems ambitious for Spring 2006……
http://www.realtor.com/realestateandhomes-detail/102-W-Broad-St_Hopewell_NJ_08525_1118608412
“Comments? Price seems ambitious for Spring 2006…… ”
ww4B,
I’m not into older homes so i dont know what to think. Its obviously a nicer one but price is extremely high for a 1 bath home in hopewell. It’s not like you are close to nyc.
Veets,
Seems very high to me but the tax records show the place sold for 710K in 6/05. 10% haircut but still overpriced IMHO. There are a few similar homes in the neighborhood that have been on the market forever.
Who would want to live on the busiest street in town? And trust me when I tell you that the traffic is heavy and constant.
188- I am not so convinced that it is even a nicer home. Doesn’t a lot depend on how new the roof is, condition of the electrical and plumbing, etc. in terms of the correct pricing? Some parts of Hopewell aren’t even that close to Princeton anyway.
Anyone has a video of Santelli telling the world to wait until everyone figures it out that GLD doesn’t have the physical to back it up.
How many more ETF pushing paper gold? As of 2006 there is only 1% of harvested gold for collection.23% the central banks holds them as reserve and the rest is used.
Addendum to 189:
Examining the backwash at the bottom of my pilsener. The little bubbles say that place sells for around 550K. In about 6 months.
#190 Whine
Its in the Boro, so its close to Princeton Twp.
Princeton Boro (Nassau St., Palmer Sq., the University) well, that’s a bit further.
comparables
22 W Broad St, Hopewell, NJ 08525
Sold on 02/17/2010: $445,000
Beds: 4
Sqft: 2450
Built: 1849
Baths: 2.5
Lot: 13068
109 W Broad St, Hopewell, NJ 08525
Sold on 09/23/2009: $460,000
Beds: 3
Sqft: 1593
Built: 1976
Baths: 2.0
Lot: 9147
#151
I’m locked @ 4.875, 30 year fixed.
Thanks for the Santelli video.
Its just about over. The productive of the world rejoice. The tit suckers are almost on their own. Time to gently edge those lips away from the tit before the IMF and the rest of the free world clobbers them over the head with the hammer.
#194 yo’me
The little bubbles say they are insulted by your lack of confidence in their powers of prediction. Besides, they say that they are almost as accurate as Zillow’s zestimates. :)
I’ll only buy a house on a double yellow line road if there is a train running through the backyard and power lines next door. Also I would immediately petition the town to upgrade the street to a triple yellow line. I like my upgrades!
Beer
It is always hard without a glass with bubbles next to me.The future is always a blur.
181 Gator
Thanks, all I want out of it are airline tix so that suits me.
#199 yo’me
The little bubbles are easy to acquire and often come complete with their own glass.
Their predictions are always correct.
As far as your interpretations of their wisdom…
Your mileage may vary.
Relo [120],
Look at this bargain-priced gem. I want everyone reading right now to look at this listing and laugh out loud like Robert Dinero in the movie Cape Fear. Forget about what family or co-workers think, laugh like a f*cking insane person… sort of like these sellers.
http://www.c21geminihomes.com/idx.cfm?action=dsp.info&listingSystem=gsmls&mlsnum=2767242
Veets [182],
My bad, I said page 17. It’s 13-14. Also in the prospectus; some factors that could influence the price;
“Currency Exchange Rates”
Imagine; the idiot that wrote that?
Barb-
Not sure where my rewards dollars are going to go. Marriott rewards have become expensive. Marriott jacked up their rewards and at one point per dollar you need to spend 50k to stay at a decent property for one night. I was doing Choice Hotels. While not a Comfort Inn fan they have a nice property in Hershey and a property in Nassau. That card is discontinued by Chase.
I will probably use Holiday Inn a lot this summer because I want to go to Moscow in the fall and they have a few hotels there.
The tarping of Euroland
By Hossein Askari and Noureddine Krichene
http://www.atimes.com/atimes/Global_Economy/LE14Dj01.html
“Currency Exchange Rates”
Imagine; the idiot that wrote that?
LOL!!!!
This would never happen in Graydon’s town:
http://tinyurl.com/294ushm
http://finance.yahoo.com/news/Regulators-shut-4-banks-72-apf-3771096113.html?x=0&sec=topStories&pos=main&asset=&ccode=
BFF – 4 – New total 72
Shore 129
The last revision cost my district $8 million so I am anxious to see what happens with the new numbers.
Maybe no new taxes but a lower income is already coming – projected out for three years. Nothing will surprise me.
Gary
the kid mixed drain cleaner and aluminum in a bottle to make hydrogen gas not bad for a 12 yr old but not bomb….
Gary,
That Parsippany house is hilarious. That house has more krap crammed in it than a Christmas Tree Shop. Very funny stuff. What’s the name of that show where they come into homes and make the owners throw away all of their junk? This home would be a perfect candidate.
Gary 207 – Only because there would be no Dollar Tree in Graydon’s town.
I know that shopping center well. We got Lil Gator’s 1st birthday cake from the Styretown Bakery. Stu had them put those crazy Boobah characters on it. When we brought in the pic for them, the goth girl working the counter exclaimed “Ooh. My boyfriend and I love those guys!” Yes. On copious amounts of drugs I am sure they are hilarious.
Re the Parsippany House – Clearly ot was staged by some Morris County Dream Team.
Stu (211)-
Hoarders.
“What’s the name of that show where they come into homes and make the owners throw away all of their junk?”
there’s the scary Hoarders, then there’s the friendly fun version, Clean House – with a spunky crew and hosted by Niecy Nash of Reno 911 fame, UMMMMM! Still, even Clean House gets scary at times.
Does anyone have any experience with subprime auto loans? I am looking to buy a new car and wanted to know if these are a good idea or more of a scam.
I downloaded Left 4 Dead about a week ago and, despite the fact its an old game, its the best Playstation 3 game in my opinion =)
I downloaded Perfect Dark Zero a couple of weeks ago and, despite the fact its a”dusty” game, its the best Nintendo DS game in my opinion ;-)
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Ford has jumped into the burgeoning urban car segment with both feet at the Beijing Motor Show with the Start concept. The design study was developed to look at ways of building a smaller, more affordable car using fewer raw materials. The structure is a combination of aluminum and high strength steels to keep weight down without sacrificing safety, while the body panels are made from recyclable composites that already have the color molded in, eliminating the need to paint.
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The site above says you can get a hold of a free Nintendo 3DS online… Has someone tried using any of those free 3DS offers?????
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I know: I’ve seen many with this problem but haven’t found any solution. 1. Had IE6 (due to company policy) on my laptop and an LCD monitor. Everything looking crystal sharp! 2. Installed IE8 (due to changed company policy) 3. LCD monitor image totally screwed up. Not clear, all fonts blurry and colored etc 4. When shutting down PC and using the PC-screen, it’s not at all as crystal clear as before at all 5. Disabled Cleartype in IE8 – made it just as bad to read 6. Disabled Cleartype from Control panel – text still much more blurry than before (this applies for Outlook Word etc etc). So: How and what should I do? Why has Microsoft done this? (Yes, Cleartype is an improvement on LCD screens and everything… I’ve read it). However, I am using the computer a lot each day and cannot really focus on the text/fonts… Operating system: XP SP2 Office version: 2003 Is it possible to roll-back (ie uninstall IE8 and all components and go back to IE6?) How to do it correctly (as I’ve seen others having problems…) And yes, once again: I know this problem has been posted many times – however I can’t find a solution that will work. Further, since there are so many with this problem, it’s important to show that there are even more with the same problem.
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It was a pretty good movie altough some scenes just seemed unrealistic. I’d give it a 8/10
Great post!
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I’m not sure I entirely concur with you on this article. Even so I am normally amenable to innovative ideas. May have to think about it. Solid site anyway.
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well said about corporate design
I love reading your blog. You seem like a natural in sharing your experiences. I am starting my blog as well, do you think only natural writers can have something to share?
I agree
Sorry for being off topic, but I am just starting my website/blog. Why did you choose WordPress over blogger or any other blog program? I am trying to figure out the best way, since I am not a techy.
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