From GlobeSt:
Northern NJ Big Box Spaces Remain Unfilled
The vacancy rate in retail properties along Northern New Jersey’s six major shopping corridors reached 8% in April, according to R.J. Brunelli & Co., LLC. This compared with a 6.6% vacancy factor in the firm’s previous study, which was conducted in February 2009. Of the six highways, only one–Route 4–saw its vacancy rate decline from 2009 levels.
The locally based retail real estate brokerage shifted the study period for its annual surveys of the Northern and Central New Jersey retail real estate markets to April from February. “Given the fact that retailers often wait until after the holiday season to begin liquidating failing stores, we felt that conducting the study in April would give a better, ‘post-shakeout’ view of the market, going forward,” explains Richard Brunelli, president of the firm.The firm’s twentieth annual study of the six-county Northern New Jersey market found 2.27 million square feet of vacancies in the 28.53 million square feet of space reviewed along the six corridors, with availabilities seen in 174 of the 816 properties evaluated. This compared with 1.84 million square feet of vacancies in 27.96 million square feet of space in the 2009 study, in which openings were seen in 118 of the 808 properties reviewed. For nine of the prior 10 years, the region’s rate had stayed in a very narrow range of 2% (2003) to 3.6% (2008), before escalating to 6.6% in 2009.
After driving 58% of the vacancy factor in the firm’s 2009 survey, big box spaces exceeding 20,000 square feet accounted for approximately 973,000 square feet, or 43%, of the region’s total vacancies. Of the vacant big box space, approximately 814,000 square feet, or 84%, came from stores that were dark in the 2009 survey–and, in some cases, have lingered from prior years. The remaining 159,000 square feet, or 16%, were from new vacancies along the six corridors. Eight vacant big box spaces totaling approximately 273,000 square feet were absorbed during the past year.
“The results underscore the difficulty landlords are experiencing in attempting to fill big box vacancies arising from the earlier bankruptcies or closures of such major chains as Circuit City, Linens ‘n Things, National Wholesale Liquidators, Levitz, CompUSA and Home Depot Expo, as well as selective closings by chains like Pathmark, Office Depot and Office Max,” Brunelli tells GlobeSt.com. “While a number of national and regional chains have stepped up to the plate and snapped up some of these prime locations at favorable rents, it could be some time before this glut of big box inventory is fully absorbed.”
Foist.
Perhaps developers should be required to post “demolation bonds,” to cover the cost of tearing down the structures they build, before they are allowed to put a shovel in the ground. That way, when the time comes to sweep away their buildings, society need not shoulder the burden.
Isn’t demo included, supposedly, in property and other taxes?
These guys just overbuilt. Do we really need a Kmart/Wallmart on every corner? What about fast food? No wonder 25% of the US kids are overweight (in PC terms they are big boned I guess). People just have to drive a little further to get what they want to buy. They don’t need half the stuff anyway. Make it a little more difficult to buy ‘stuff’.
http://videos.nj.com/star-ledger/2010/05/should_i_stay_or_should_i_go_t.html
http://www.fresnobee.com/2010/04/27/1912305/sierra-vista-mall-would-host-first.html
Something positive –
We have a Kohls going in where Mervyns was a year ago and Joe Levy starting up a single store Gottschalk as the other anchor store at our area mall.
That is the plan. The two spaces have sat empty for over a year.
I don’t know why, maybe I just miss it up there, but the best part of that piece is when they drop the WaWa sign in.
Pat – Thanks for posting “Soak the Rich, Lose the Rich” – other thread.
BIg box stores should be fortified and used as remote barracks/armories/surveillance posts for the army presence we will end up having in every community in the US.
By the time this ends, most of suburbia will look like N. Ireland in the ’80s.
Let it burn!!!!
We have taught our pupils well:
“Yesterday we announced the ECB’s plan of €16.5 billion in liquidity withdrawal via term-deposits. What we missed is that this is one of the biggest circuitous monetization schemes imaginable as these very term-deposits are eligible as collateral against the ECB’s repo facility. In other words, this is very much like pulling oneself out of the toxic asset swamp by one’s bootstraps. It gives the impression of a liquidity tightening event when in reality it could easily become leveraged loosening. And here we were thinking that the ECB could go ahead and do something sensible for once. Expect reprisals from Germany once it is understood that toxic bond monetization by JCT is now implicitly permitted.”
http://www.zerohedge.com/article/sterilizing-sterilization-monetization-any-other-name
Burn, mf’er, burn!!!!
http://online.wsj.com/article/SB10001424052748703315404575250732338101828.html
Toll CEO to step aside
Doom
if we ever needed a monument to the misalocarion of resources, we have it. The NNJ commercial corridors
Doom
is it to early for whisky?
Never too early for a dram.
Cindy (13)-
Rat abandons sinking ship.
This could set off a whole wave for those behind on their mortgage payments:
http://www.nytimes.com/aponline/2010/05/18/us/AP-US-Baby-for-Beer.html?_r=1
Nothing spells future success in homebuilding like owning lots of vacant land and building McMansions when nobody wants/can afford one.
meter (18)-
Probably a Bruins fan.
@4 – Amen.
The End of Big Box Mart
Hmm. Early signs of white flight from suburbia?
Frank,
Abercrombie & Fitch loses money in 1Q, sales rise
Abercrombie & Fitch posts 1st-quarter loss even as sales climb domestically and abroad
Tosh
Brazilification. It leads to some interesting conundrums as well. if you arent “wealthy” then moving in towards urban centers during the transition period can be a bad idea. its easy to end up on the “wrong side of of the tracks”.
Do you buckle down in decaying suburbia or make the early jump to urban centers. You will still have rural towns but they will either be poor or near industrial operations where employment is available.
#23,
That’s why there’s a line down the block, they are selling their stuff too cheap. Speaking of cheap, how about buying a home before prices go up??
Where’s the recession??
Housing Starts in U.S. Rose in April to Highest Since 2008
May 18 (Bloomberg) — Builders in April broke ground on more U.S. homes than anticipated as buyers took advantage of a tax credit before its expiration.
Housing starts rose to a 672,000 annual rate last month, the highest since October 2008 and up 5.8 percent from March, Commerce Department figures showed today in Washington.
Bank Rigging on Municipal GIC’s
http://www.bloomberg.com/apps/news?pid=20601109&sid=aAePAQdl8rKc&pos=10
Hoboken market on fire last week. 20 UC
http://hudson.fnismls.com/publink/default.aspx?GUID=0fd0dd3f-7f54-4024-8144-4519f21b724a&Report=Yes
#24 – It leads to some interesting conundrums as well.
Indeed it does. It should be interesting to see what the tipping point is. The point at which the rest of everyone in the suburbs with the means to leave realize that suburban America is no longer a tenable position.
I know a number of people cite the Kitty Genovese case as collapsing many of the possible eigenstates urban inner-city America existed in post WWII.
I’m going to say $5 a gallon gas will do it in terms of pure economics. But there should be some sort of cultural breaking point.
#28 – $220k for a one bedroom? We’re a long way from 2006.
Tosh,
The fact that you can correctly use “eigenstates” means you just won a GEEK badge of honor :)
Bravo!
Frank 26:
Permits were down 11%. The housing starts will take a serious drop over the next few months.
#31 – aww shucks! /blush
Embrace the oblivion….
http://www.bloomberg.com/apps/news?pid=20601103&sid=aO7kbskKjoB8
Taxed out of Irvington? Property taxes going up 17%.
http://www.nj.com/news/local/index.ssf/2010/05/irvington_residents_reeling_fr.html
All will be spared….
http://www.youtube.com/watch?v=4iuS1unW7VE
Alabama is friggin awesome!
http://gawker.com/5540073/this-campaign-ad-is-the-most-american-thing-ever-made
Alabama is awesome part 2. Young Boozer for State Treasurer!
http://deadspin.com/5541288/young-boozer-carries-on-boozer-family-tradition-in-alabama
#38 Gator,
He looks like Woody Allen. No wonder all the name dropping.
Safe – But where else in America can you name your kid Young Boozer III?
He doesn’t have half the personality that the Ag Commish candidate has though.
Oops…
Connecticut Senate Candidate Misled Voters About Serving in Vietnam
The Times only has one example of Blumenthal outright saying he served in Vietnam (he says he “misspoke,” which, you better believe it, buddy). But they also have him saying to military familes, “When we returned, we saw nothing like this.” Obviously, what he meant was, “When we returned from the Christmas toy drives for children and recycling programs in neighboring communities, we saw nothing like this,” because that is what he was doing during the Vietnam war. But you can’t blame someone for thinking he meant “When we returned from the country of Vietnam, where I was doing soldier-type things, in the Vietnam war, as a soldier,” can you?
http://gawker.com/5541238/connecticut-senate-candidate-misled-voters-about-serving-in-vietnam?skyline=true&s=i
Tosh
if you look at places like detriot, it appears that the US may have its own version of brazilification.
Instead of people heading to major urban centers, those with money seem to congregate in smaller cities on the outskirts of major urban centers while the urabn centers themselves decay.
You can see the same thin in memphis.
Perhaps an analog for this area would be all the money running to BC and building it up while suburbia and the heavy urban centers decay.
Interesting:
Europe may have to clean up its own mess after all. The US Senate has voted 94:0 to block use of taxpayers’ money for IMF rescues that make no economic sense or bail-outs for countries like Greece that far are beyond the point of no return.
“This amendment will help prevent American taxpayer dollars from underwriting dysfunctional governments abroad,” said Texas Senator John Cornyn, the chief sponsor. “American taxpayers have seen more bailouts than they can stomach, and the last thing they should have to worry about are their hard-earned tax dollars being used to rescue a foreign government. Greece is not by any stretch of the imagination too big to fail.”
Co-sponsor David Vitter from Louisiana said America had run out of money. “Our country already owes trillions of dollars in debt. We simply can’t afford to take on other countries’ debt in addition to our own.”
It is unclear where this leaves the EU’s $1 trillion “shock and uh” package. Urlich Leuchtmann from Commerzbank said the IMF share of $320bn was the only genuine money on the table, the rest being largely euro smoke and mirrors, or plain bluff.
The measure is an amendment to the US financial overhaul law. Backed by both parties, it can hardly be ignored by the Obama administration whatever Tim Geithner may or may not want to do. The bill has to go to Conference for reconciliation with the House, but the point is made.
It instructs the US representative at the IMF to determine whether a country with a public debt above 100 per cent of GDP can be expected to repay IMF loans. If this cannot be certified, the US must oppose the rescue package.
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100005734/congress-blocks-indiscriminate-imf-aid-for-europe/
tosh so now not only do i need a dictionary but an encyclopedia t read ur posts- thx GEEK ;)
btw for those like me-
eigenstate-
in physics, any discrete value from a set of values of total energy for a subatomic particle confined by a force to a limited space or for a system of such particles, such as an atom or a nucleus. A particular hydrogen atom, for example, may exist in any of several configurations, each having a different energy. These energy states, in their essentials, remain fixed and are referred to as stationary states.
HUH?DUH?
#44 for # 29
http://www.china.org.cn/business/2010-05/18/content_20064490.htm
“Tycoon sentenced to 14 years in prison”
Finally!
Oh wait – that’s in China…
Cooper
raed this:
http://en.wikipedia.org/wiki/Eigenvalue,_eigenvector_and_eigenspace
the term Tsh used was not really referencing atomic states. he was referring to the possible configurations that such a social condition is likely to be stable in. By collapsing the eigenstates you force the situation into a limited number of original possible eigenstates
In english, the current social conditions suggest 1 or 2 possible outcomes assuming we go down the brazilifaction route.
This is not meant to be rigorous explanation so fellow geeks dont jump on my back!
In the 5 gas Brazilification scenario N Jersey is well positioned due to the trains.
No way in hell would I want to move into they city when this falls apart. Its better to be poor than dead.
#40 Gator,
That Ag Candidate rocks! wish I was in Alabama so I could vote for him.
Safe,
WOnder if we can convince him to move up here? I’d vote for him just for him as well!!!
Gator,
I bet he’d be a hit in Montklair
Want to See Obama’s Future? Take a Look at Cory Booker.
Newark Mayor Cory Booker is converting campaign inspiration into capable governance.
But Booker can hardly rest on his laurels. Along with the state of New Jersey—and the federal government itself—Newark is facing crushing deficits. And like his political counterparts across the country, Booker’s aspirations are circumscribed by this new age of austerity. The government “can no longer do it all … We can’t do what we used to do,” he said. “Resources are shrinking … Personnel costs are skyrocketing, [along with] health-care costs, pension costs. So revenues are not meeting expenses and it’s getting worse every day, which is going to force us to shrink the size of government because we just can’t afford it. And we definitely can’t tax our way out of this problem.” So the future, as he see it, lies in creating “new paradigms, for not only service delivery but for community success.”
http://www.newsweek.com/id/238118
http://www.nhregister.com/articles/2010/05/17/news/aa3ctdodduconn051710.txt
Dodd wants this job. This is what wrong with our edumucation system.
The word of the day folks is corralito.
http://en.wikipedia.org/wiki/Corralito
#48 – N Jersey is well positioned due to the trains.
Trains fueled (in one way or another) by oil, forcing commuting costs ever higher thus forcing population moves*. N Jersey may be better positioned than, say, Eastern Pennsylvania but the effects are unavoidable.
It is arguable that many urban centers, and I am thinking of NYC here not LA, are in a much better position given their mass transit systems, potential or existing centralized distribution channels, etc. In other words, NYC was designed without the car in mind so reverting to a system far less dependent upon cars is much less taxing upon it than it is to Holmdel.
*This isn’t even accounting for the increased cost of food/heating/etc from rising fuel costs.
[34] chifi
“The law firms, dubbed “tax promoters” by Saylor, included Proskauer Rose LLP and Brown & Wood LLP, which was acquired by Sidley Austin LLP.”
I am so enjoying seeing Sidley Austin squirm.
Wow, tosh. You’re on a roll today. With mustard.
Three dollar word (O.K., $5) plus correct use of “than” in the same sentence with “effects.” Minus two points for failure to use hyphen.
;)
47 thx Mr Hyde- I kinda got it – I watched “how the universe works” last night on discovery channel and got all worked up over how elements form in heavy stars
[47] hyde
Although I am utterly flummoxed by the math, and cannot as precisely articulate it, you have hit upon one of the factors I want to employ in Nompound siting.
Actually, this urban v. suburban debate also informs nompound siting and to the target demographics. As for siting, I have to be cognizant of the fact that exburban cities, not a part of the Bos-Wash megalopolis, will be particularly hard hit in a downturn, and would be a source of unrest. As for demographics, it is an easy enough sell for Manhattanites, but a much harder sell for someone in PBC or Brigadoon, where the average folk feel themselves insulated in the event of significant social decay. This is compounded by the fact that those in the suburbs most at risk are not Nompound candidates.
But then, nompound siting isn’t going to be a widespread concept. That would defeat the purpose.
Here, Essex. I found something your ineffective mouthpiece needs to scan. There’s a pie at stake, with 8 pieces for ten kids.
It can be recut into ten, or decisions will be made against certain groups. But the perceptions will rule here.
http://erl.tamu.edu/bgrosskopf/f.pdf
#56 – Minus two points for failure to use hyphen.
Nuts.
Nom,
If you look at argentina and brazil, you see discretely fortified niegborhoods that have private security.
You could take this concept and offer an urban nompound. You build a development of 10 – 15 units and put in decorative yet fully functional security measures such as walls, gates, resources reserves. You Treat the development as is done in south eastern neighborhoods with HOA’s.
You (Nompounds Inc) run the security and maintenance of the neighborhoods while the individuals own the units.
These are very common and successful in argentina.
As a secondary offering you could offer the traditional rural nompund to your customers.
[161] [prior thread] Pat
Thanks. That was only one topic he covered, and it was a canned speech of very basic things, many of which I already knew.
One chart that just jumped out at me was the fact that, since the early 60’s, while the top marginal tax rate was going down, the percentage of the overall income tax burden shouldered by the “rich” steadily increased. There was another stat showed that the bottom 95% of taxpayers gained at the expense of the top 5%, but the first chart showed me that we are in a truly precarious state.
What that stat told me was that my earlier educated guess is backed up by IRS statistics: If the top earners in this country decide to leave, or even if only a fraction do so, the effect on income tax receipts will be devastating. Moore didn’t discuss this, and may not have taken away the same thing I did, but he was talking about something else, namely the paradox of how lower taxes actually resulted in a more progressive tax burden distribution. My takeaway was that we are truly fcuked if a substantial portion of the truly rich decide to decamp for more hospitable shores.
Thus the administration is faced with a conundrum—already, the rich are starting to head to the exits, imperceptibly but it is occurring. The USG imposed an “exit tax” in 2008, but that won’t be enough to stem the bleeding, especially in a loss environment (it mitigates the effect of the tax). The administration can do more, and is doing more, to dissuade capital flight, but it only dissuades direct investment in the US. The problem is that, if the administration does more to prevent the rich from fleeing the plantation, it would set off a panic as this would be an acknowledgment that we are in real trouble and must pass new taxes, including a VAT, to make up for the fact that we relied too heavily on a mobile source of capital.
It is really worse than I thought, and Obama’s soak-the-rich policies are perhaps setting us up to hold a far larger bag than many expect.
[61] hyde
I actually considered that. In fact, I considered the idea of taking over large tracts in places like North Philadelphia, bulldozing it under, and building a small gated community, but it would be like living inside a prison yard, not like the moated communities in Florida.
Two big problems with that are (1) the fact that the urban nompound would be idyllic, but outside would be a war zone, and (2) unless you got tax concessions, the municipality would simply tax the fcuk out of you (the latter is ameliorated by the fact that the nompound would be set up as a commericial entity that heavily depreciated the property—once it was fully depreciated, you could threaten to put it to the city by abandoning it and the “owners” take a loss on their “stock” but the city simply gets a property that is worthless on paper.)
Tax News of the Day (and good news for WW4B, wherever he is):
“Senate Democrats, Republicans Line Up
To Aid Small U.S. Breweries With Tax Break
A bipartisan group of senators introduced legislation (S. 3339) May 11 that would reduce the beer excise tax on domestic small brewers, a move they said would help create jobs at more than 1,500 breweries.
Specifically, the legislation would cut from $7 to $3.50 the excise tax on the first 60,000 barrels of beer produced by small brewers that produce less than 2 million barrels of beer per year.
Additionally, the legislation would cut from $18 to $16 the excise tax that small brewers would have to pay on the next 1.94 million barrels of beer.
According to a news release from sponsor Sen. John Kerry (D-Mass.), the two changes together would provide small brewers with an additional $44.2 million annually to generate jobs and make long-term investments.
Increased Production Limit
Finally, the bill would redefine small breweries by increasing the annual barrel production from 2 million to 6 million barrels.
“Many of Massachusetts’ small breweries have thrived despite being outgunned by huge multi-national beer companies, but in this competitive environment many more face daunting financial hurdles,” Kerry said in a release. “Small and independent brewers are vital small businesses in our state, and relieving their tax burden will help them keep hiring and expanding.”
/snip
I think we found a business for Nompound, Inc.
And why do I get the impression that the doubling of the size of “small brewery” is designed to cover Sam Adams?
More tax news of the day (and bad news for JJ):
“Adult Entertainment Admission Taxable in New York
The New York Tax Appeals Tribunal April 14 rejected a taxpayer’s argument that an adult entertainment club for private and public dances was entitled to the same tax exemption extended to venues that offer live music, theatre, or dance.
The tribunal ruled in In re 677 New Loudon Corp., No. 821458, that adult entertainment club admission charges and fees are subject to sales tax, as are the charges of a cabaret-type place that provides its customers a public performance for profit.
Sales of drinks by the club are also taxable, the tribunal found, because the drinks were served in conjunction with, and not merely incidental to, the entertainment.”
Sorry John. Pony up.
Nom,
If we continue to follow the argetinian route then
(1) the fact that the urban nompound would be idyllic, but outside would be a war zone,
will start to become the norm.
Rep. Souder And Mistress Recorded Video Praising Abstinence
Rep. Mark Souder (R-IN) had an affair with a part-time staffer named Tracy Jackson, Fox is reporting. Jackson played the role of interviewer for a Souder Web video show on the issues of the day — including one on the value of abstinence.
Dubbed “Congressional Update with Congressman Mark Souder,” the show hit on issues like intelligent design and fencing the border.
In the November 2009 abstinence video, Jackson introduces Souder this way: “You’ve been a longtime advocate for abstinence education and in 2006 you had your staff conduct a report entitled ‘Abstinence and its Critics’ which discredits many claims purveyed by those who oppose abstinence education.”
http://tpmmuckraker.talkingpointsmemo.com/2010/05/rep_souder_and_mistress_recorded_video_on_abstinen.php?ref=fpblg
Man Selling Spots In Hidden Bunker As Last Hope
http://cbs2.com/local/Vivos.Hidden.Bunker.2.1699568.html
I would like to buy in the urban Nompound. Can you send me the floor plan and elevation of the model with the rooftop turret and surface-to-air missile pads?
I certainly hope he upgrades his beverage list. JD and bad chardonnay are so utterly middlebrow.
“Would you want to survive or would you want to sit on the porch with chardonnay or Jack Daniels and watch the show,” Vicino asked.”
Doom 69 – Buy before May 30 and the builder will throw in the optional missle silo for free!
gator (67)-
The idea of those two shagging in some fleabag Days Inn is a visual that I won’t be able to shake for the rest of the day.
gator (71)-
I want the developer to finance ten Hellfire missiles for me via a second mortgage, or I’m headed to Toll Bros.
Since I can’t offer missiles as collateral, I will let the developer select three targets.
Doom 72 – You know, when the left wingers screw up it’s usually with some boring, ho-hum ethical or financial chicanery. These right wingers tend to F-up in much more entertaining ways.
Hmmmm Maybe we should be writing the Dick Blumenthal political obit now…
Dodd Defends Blumenthal, Calls Vietnam Row A ‘Bump’
“Dick Blumenthal and I have known each other for almost 40 years, and I’ve always known him to be the most honorable of people,” Dodd said, just outside his office. “And nothing I read says anything differently about Dick Blumenthal. He’s going to be a great United States Senator in my view. He’s been a terrific Attorney General. So this is a bump but frankly I think that he’s handled it well and as I said, I’ve known him to be nothing but the most honorable of human beings in public life.”
…
Doesn’t change that at all in my view,” Dodd went on. “Dick Blumenthal, as I said, has been straightforward. He’s been terrific. The people of Connecticut admire him, respect him, as I do, and I’m looking forward to that day in January when he’ll be sworn in as the next Senator from Connecticut.”
http://tpmdc.talkingpointsmemo.com/2010/05/dodd-defends-blumenthal-calls-vietnam-row-a-bump.php?ref=tn
I served during the first gulf war.
Granted it was fried chicken, I was a delivery boy, in northern NJ, but I definately served during that war.
: )
re #76 – Here is the video. It is pretty clear he thinks he served.
http://www.realclearpolitics.com/video/2010/05/17/ct-sen_blumenthal_touts_vietnam_service_in_2008.html
YOU BETTER STEP OFF FOOL, BEFORE YOU SERVED!!!!
[75] gator
I’d rather get my tax money back than hear a good joke.
I’d like to see Linda McMahon from the WWE win the Conn Senate race.
[68] escapee
Don’t know about you, but I don’t have $50K to spend on a TEOTWAWKI insurance policy.
The nompound concept is much softer, and not designed to be hardened against a nuclear blast, but the purpose is different, and the goal is to have a sanctuary not unlike Vicino’s in concept, but one that is sustainable over the long term and currently usable.
That said, Vicino’s idea of numerous sites could be merged with a soft agribusiness/recreational model, so that Nompounders could have the best of both concepts.
[69] doom
By the time things got that bad, you would want to be at your rural nompound, and leave the urban one to the caretaker staff, who should be sufficiently well armed to handle the locals.
I found this on a tax attorney’s blog. It is too funny not to be true:
“We just got a Closing Agreement delivered to us for one of our voluntary disclosure cases. The Internal Revenue Service used United Parcel Service to send it. They, like us, apparently have a dim view of the United States Postal Service.
Tag this one #irony”
Ref 63: Nom, they did something very similar to that when the converted the old RCA building in Camden into “luxury condos. It’s like the anti-matter version of the Camden prison. Fenced, gated, gaurded, and all the basic stores are inside the building so residents never have to go beyond the fences to bank, get coffee, shop for groceries etc. Reminds me of the NYT reporter who visited Russia after the revolution and wrote “I’ve seen the future and it works.”
If you look at argentina and brazil, you see discretely fortified niegborhoods that have private security.
Spent time in Lima Peru. Pretty much the same setup. Every urban house is fully fenced in with brick walls and topped with spikes or barbed wire. Each neigborhood has private security.
[85] DL
What would really make that workable is specially-designated transportation options:
1. put a specially-gated PATCO stop within the compound perimeter, and each resident gets a passkey to the station gates (which would prevent the hoodlum element from taking PATCO into the perimeter).
2. build a shielded entry/exit ramp to the local roads and to the highway so that drivers leaving or entering don’t have to stop at lights or stop signs before reaching a highway.
njescapee – you out there? I heard there were tar balls coming ashore on Key West and the oil has touched the Loop Current. Any updates?
[86] renting
I expect that you would first see, in response to an LA Riot or something similar, a voluntary, ad hoc response.
Later, residents would want something more permanent, and may gravitate toward a residential version of a BID (“RIDs”). It would require legislation to deal with the free rider problem, however, and I cannot easily see cities agreeing to help set up and collect operating revenues for RIDs when this concept is a repudiation of the city government.
Further, in response to unrest and crime, those in “better” areas will enjoy greater protection. The cities won’t throw their best taxpayers to the wolves. One need only look at Newark and the heavy police presence in the central business district around Gateway, Military Park, the Rock, and Broad street. It’s very safe here because of all the cops, but one wonders if there are cops anywhere else in the city?
Outofstater
Yes and yes.
It looks like NOAA is trying to run damage control and is saying that there are to many unknowns and that oil has not reached the loop current. NOAA also says that the plumes have not been confirmed to be oil.
The non government groups in the area disagree.
Note that one of the dispersants being used is toxic to reefs. Say goodbye to the last living reefs in florida
Gator 67:
Must be hard to find a good man in Indiana. Damn, she gotta live with that black eye for life. Hopefully she can trade up and start dating senators like Lautenberg or Spector.
Souder looks like a CPA. If it was not for him being in Congress, he could not catch a goomatta under 60 years old.
@89, Nom –
Cool, our very own green zones.
Who said we weren’t Iraq?
Nom 80 – With the Republican Party you get both!
Why aren’t you in PA voting today?
[93] gator
Simple. It’s a democratic primary. Also, after I procured my Mossberg, I officially (and with much regret) became a NJ resident. So voting there would be illegal.
Dow Theorist Richard Russell: Sell Everything Liquid
Posted May 18, 2010 11:40am EDT by Joe Weisenthal in Investing
Related: dia, spy, xlf, ^dji, ^gspc, ^ixic
From The Business Insider, May 18, 2010:
WHOA!
Richard Russell, the famous writer of the Dow Theory Letters, has a chilling line in today’s note:
Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him.
That’s pretty intense!
Update: By popular demand, here’s more on what he sees in the market. The gist is that the markets recent gyrations are telling him that the economy is in trouble:
And I ask myself, “Am I seeing things? The April 26 high for the Dow
was 11205.03. The Dow is selling as write at 10557 down 648 points
from its April high. If business is even better than expected, then
why is the Dow down over 600 points? And why, if there were 674 new
highs on the NYSE on April 26, were there only 20 new highs on Friday,
May 14? And if my PTI was 6133 on April 26, why is it down 17 points
since its April high?
The fact is that I’ve been seeing deterioration in the stock market
ever since early-April, and this in the face of improving business
news. The D-J Industrial Average is composed of 30 internationally
known top-quality blue-chip stocks. These are 30 of “America’s biggest
companies.” If Barron’s is so bullish on the future of America’s
biggest companies, then why isn’t the Dow advancing to new highs?
Clearly something is wrong. But what could it be? Much as I love
Barron’s, I trust the stock market more. If I read the stock market
correctly, it’s telling me that there is a surprise ahead. And that
surprise will be a reversal to the downside for the economy, plus a
collection of other troubles ahead.
About Dow Theory — First, we saw the recent April highs in the
Averages. Then we saw a plunge in both Averages to their May 7 lows —
Industrials to 10380.43, Transports to 4298.12, next a short rally. If
ahead, the two Averages turn down and violate their May 7 lows, that
would be the clincher. Such action would signal the certain resumption
of the primary bear market
More Tax News of the Day:
Unless this gets resolved, expect litigation.
“Kyl Says Estate Tax Deal Has Fallen Apart
Senate Minority Whip Jon Kyl (R-Ariz.) said May 18 that a bipartisan group of senators are no longer close to a deal on the substance of a proposal to deal with the expired estate tax.
“We had an agreement on the substance of the proposal, subject only to certain offset limitations; other than that, we were in agreement,” Kyl said before the Senate Republicans’ weekly luncheon. “I’m not sure that that agreement still exists.”
Speaking May 11, Kyl had said that he, Finance Committee member Blanche Lincoln (D-Ark.), Finance Committee Chairman Max Baucus (D-Mont.), and ranking member Charles Grassley (R-Iowa) had reached an agreement on moving forward. Lobbyists said they believed the deal would result in a top tax rate of 35 percent with a $5 million exemption level for individuals ($10 million for couples), with both figures indexed for inflation.
Asked May 18 about whether he prefers a retroactive proposal, or one with a choice for 2010, or an option to prepay, Kyl would only say that he believed there was an agreement one week ago and “that may not be the case anymore.”
Baucus agreed, saying, “There is no agreement on the estate tax in either substance or process. None whatsoever.”
“Taxed out of Irvington? Property taxes going up”
I had a conversation with a tax clerk and it is instructive. The bottom line:
If people do not like what a company charges for a product, they may stop buying the productor find an alternative vendor. If people do not like their taxes, they can move. But, when they sell, the lost “customer” is replaced. Even if one bulldozes the property improvements, they are still on the hook for taxes (lower perhaps) but they still have to “buy” from the town.
Individuals may escape a given town’s taxes but the towns seldom feel any loss. The losses come when properties become abandoned and there is noowner who they can locate. For ordinary sales, there is no loss to the town due to tax flight.
Nom 94
I was curious, so i looked into the NH gunshop purchase for a NJ resident. Current law requires that the weapon be transferred after purchase. So you can purchase the weapon in NH but must have the equivalent paper work that you would be required to have in NJ. Once you make the purchase, you may not take possession of the weapon. It must be shipped to a gunshop in NJ and properly documented at which time you may take possession of said weapon.
there may be loop holes, but bring that up with a qualified legal expert.
Note: this is my lay interpretation, and i am not an attorney or particularly knowledgeable about NJ gun laws.
Shoreguy
Those empty properties will be razed when the first wave or riots break out ala the LA riots.
On that same note, perhaps its not quite time to move towards the urban centers, wait until the first wave of civil unrest settles down.
Does anybody know if Williamstown is a lot like Lindenwold?
Nom,
You may want to check out a book by the name of
Nappen on New Jersey Gun Law
Clotpoll’s gun law:
Buy as many guns as you can.
Buy as much ammo as you can.
Hide it well.
Know anyone that buys Gold from Goldline?
Rep. Weiner’s staff investigated Goldline and found that the coins it sells are not the good investment that its salesmen — who are not licensed investment advisers — claim that it is to consumers, because the price of gold would essentially have to double beyond its current high to begin seeing any gains. Specially, the investigators found Goldline coins selling for 90 percent above the melt value of the coin, that is, its value by weight. The largest markup seen on a coin, Weiner said, was 208 percent above the melt value.
The most I saw was about 10 – 20 bucks markup per coin. I don’t know about the markup when one needs to sell.
S
Doom 102
any guns purchases made in NJ end up in a nice little database. So good luck hiding firearms in NJ (with a few minor exceptions). Its funny that there were never any repercussions that i am aware of for the cops in New Orleans rounding up legally owend weapons at gun point.
Hyde, doom
I don’t doubt that is what NJ law says. But NH sellers are not bound by NJ law.
Besides, as far as I am concerned, my guns were purchased before I became a resident of New Jersey. At the last purchase, I produced a PA drivers license and represented that I was a resident of PA, which I considered my domicile at the time of purchase.
Consequently, the guns were lawfully purchased because neither I nor the seller were residents of NJ, and were not bound by NJ law.
Further, there is no registration requirement for guns already owned by new residents when they relocate to NJ.
And yes, this was done by design. So Trenton, go fcuk yourselves.
Shore Guy #97
If people do not like what a company charges for a product, they may stop buying the product or find an alternative vendor. If people do not like their taxes, they can move.
I agree.
The problem is that the “homeowner” is the “company” in this situation. When a buyer looks at a house, the property taxes are a factored in what they are willing to pay.
Take 2 identical homes in 2 identical towns. Everything is the same except the taxes. The economically rational buyer will discount the house with higher taxes by the net present value of the difference in taxes.
So, the town doesn’t get hurt (new taxpayer replaces the old taxpayer), the new buyer doesn’t get hurt (higher taxes are factored into the sale price), but the existing homeowner takes a hit in the value of the house they sell.
[103] sas3
Buying gold??? You???
Why do you feel the need to buy gold? After all, you have HOPE and CHANGE, right?
“Why do you feel the need to buy gold? After all, you have HOPE and CHANGE, right?”
Yeah, pocket change
[106] renting,
In a high tax environment, however, it may make more sense to hold property as commercial property. Houses can be held as rentals.
The object would be for the landlords to have the property appraised so that the structure is valued as highly as possible. Then it can be depreciated down to nothing, so it has no book value.
If the property is later sold, the sale price attributable to depreciation is recaptured for tax purposes. This is called Section 1250 recapture.
But if the property is never sold, and is in fact encumbered with debt so that, after depreciation, the owner has extracted all of the value, then it may make sense economically to not pay taxes, especially if there is no tenant, and let the property be seized.
The banks then become liable for the taxes, but they may instead refuse to foreclose, thus causing the property to be further encumbered with tax debt.
Eventually, the city seizes the property, which is a nonproductive asset. The city will sell it at a fire sale price, if they can sell it at all, and then it will be productive tax property again. But if that holding period runs long enough, or the property doesn’t sell for the tax debt, the city winds up taking the hit.
This doesn’t include the ancillary tax hits that the city takes from the activity that isn’t occcuring, and for which they aren’t taxing.
So there is some incentive for cities to not tax people away. Otherwise, they wind up like Detroit or Camden.
Doom, Hyde
Thought for the day:
“Those who hammer their guns into plows will plow for those who do not.” ~~~Thomas Jefferson
Nom: 107#
No… not buying gold anytime soon. I have bought a few coins over the past fifteen years — not as an investment, but for custom jewelery for family functions. Personally, I do not think gold is a good financial investment — at least for families I know, it is a money sink (selling family gold is a big no-no in India). Fortunately, I don’t have enough discretionary money to spend on gold jewelery — and to hire a locker to store.
I was just curious about the 100% markup over melt value, and wondering which idiots would buy from Goldline.
S
Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him.
Read more: http://www.businessinsider.com/dow-theorist-richard-russell-sell-everything-liquid-you-wont-recognize-america-by-the-end-of-the-year-2010-5
Reuters is reporting that key stocks are to get their own %10 down side curb.
Certainly very helpful.
Jason (112)-
When I say stuff that that, people call me crazy.
IMO, the crazy people are the ones walking around like happy dopes and staring at the sun. At least they won’t feel the pain when the scythe of the grim reaper lops their heads off.
It’s going down fast. We are all Devo. No one will be spared. Final Doom is upon us.
OTOH, SKF and SRS are nice little day trades. :)
Disclaimer: Last night, I stayed in the same fleabag motel that Indiana congressman banged his assistant in.
http://www.cnn.com/video/#/video/crime/2010/05/18/dnt.dog.poop.dna.wbal?hpt=T2
The DNA solution
Maybe some other uses:
-Who’s peeing in the pool
-Who’s putting gum under the desks
-Who’s opening creamers and drinking them at McDee’s
-Who’s not flushing in the office bathroom/who’s peeing on the seat
-Who’s dripping hand soap all over
Looks like Germany is trying to destroy the CDS market in less than a day.
Getting interesting now, folks. Buh, bye, Euro…
This is the end of days.
16th century, dead ahead.
They control the vertical, they control the horizontal. Welcome to the nightmare from which no one awakens.
God bless Bergabe if he’s buying Euros right now. That move should blast an even bigger crater in FedCo’s balance sheet.
Next stop, par.
If only naked shorting could be curbed, every market in the world would recover.
BWAHAHAHAHAHAHAHA!!!
This thing will dwarf Sept. ’08.
@119, Doom –
Par would be a nice welcome for my trip to the EU this summer.
On second thought: will I need to spend the savings on a personal security force?
Doom,
Look at the fall of europe as a last chance to get our affairs in order before the vultures finish that meal and descend upon our bloated, festering, carcass as we struggle in vain against the inevitable feast upon our half dead flesh or a nation.
Thinking further…if Doom’s right, avoid the college bubble and get your kids in on the ground floor of the next cottage industry: private security.
Save a buck and invest in the future: send ’em to Central America for RPG and sniper training.
…of a nation
WHOA!
Richard Russell, the famous writer of the Dow Theory Letters, has a chilling line in today’s note:
Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him.
Dammit. I just knew that some damn terrorist would repeat this damn statement from the damn commie sympathizer, Richard Russell. Guess what? I don’t give a tinker’s damn about what he thinks. He’s a damn scaredy cat anyway.
Tell you what; real men go long in the damn stock market and hold for the long term and look at gold as a nice adornment you get your lady when you make some damn money. Wusses short the damn market and run around wetting their damn pants over some damn imaginary collapse.
I’m glad I’m a real man and not some damn pantywaist wuss.
[111] sas3
I don’t know who does. I know I don’t buy due to those markups. I think it is a sucker’s bet. I’d rather buy hard assets that I know will appreciate with a dollar decline and that I can liquidate more easily.
Guns and ammo are good stores of value IMHO because in the event that TSHTF, the value will go up much faster than production. And, unlike gold coins, you can take them down to the range and have fun shooting at things.
Hyde – apocalyptic poetry very nice, that Richard Russel stuff is um, frightening
[122] hyde
Are you trying to out-doom Doom?
Won’t this cause a reprice in the underlying option contracts of these securities?
I Am Legend.
Lemon Brothers, redux…times 10.
Get your popcorn and settle in, folks.
Market opens in 17 minutes.
Doom,
Reading recent local Euro news, it appears that the majority of both the French and German public want out of the EUR NOW and back on sovereign currencies.
Both nations are setting themselves up for some spectacular riots as the euro disintigrates and the people rise up.
I wonder if the EUR makes it to 2011 with both Germany and France still on the EUR.
France probably, as they most likely have just started ( if at all) preparation to move back to the franc. Germany’s preparation are well underway and rumor is they could be ready to jump by the end of the year.
[132]hyde
Guess now is a bad time to buy euros for a future europe trip, eh?
Burn, mf’er, burn!!!!!
[132] hyde
YES! Bring back the French Franc.
I still have some left over from a trip from about 15 years ago.
Meter 123
Nope. Try School of the Americas at Fort Benning GA. Or get them in the military and over to Iraq ASAP. Thats some serious on the job training.
Who has a shred of doubt that Bergabe is buying Euros as fast as he can hit the button?
We are so screwed.
Nom 133
in my professional janitorial opinion… YES
Not trying to out-shine Doom, just felt inspired.
I won’t be happy until I can score a bottle of Mouton, ex-cellars, for about $12.
Just like 1982.
In other news . . . .
Apparently, this administration will enforce party orthodoxy and pureness of thought down to the lower levels . . .
“May 18 (Bloomberg) — Jonathan I. Katz, a physics professor at Washington University in St. Louis., said he was fired from the team of scientists chosen by U.S. Energy Secretary Steven Chu to help BP Plc control the oil spill in the Gulf of Mexico.
“Some of Professor Katz’s controversial writings have become a distraction from the critical work of addressing the oil spill,” Stephanie Mueller, a spokeswoman for the Energy Department, said in an e-mail today. “Professor Katz will no longer be involved in the department’s efforts.” . . . .
. . . . Katz wrote articles on his personal website, including, “What Is Political Correctness,” “In Defense of Homophobia” and “Why Terrorism Is Important.”
So, apparently Katz is not a true believer, and has committed thoughtcrime. He must be re-educated.
[140] doom
Heck, I’d be happy with getting Chateau de Sancerre for about $4 a bottle.
I think I will need to build that third wine case.
Doom,
The german ban has been confirmed and is effective as of midnight. Should be a fun night for the euro. Tomorrow could be a wild ride
“Effective immediately, Internal Transfers from a Chase Home Equity Line of Credit are limited to a maximum of $100,000 daily.”
Now this is interesting.
#97 Shore, my husband goes to Irvington 1 or 2 times a week. He said they are all complaining, some owners are going out of business due to tax bills, jsut not worth it. also, they just fired police and fireman, but Livingston had no layoffs…
“Corralito” remember that word.
Embrace the oblivion:
http://www.youtube.com/watch?v=wKYCbGMUO1U
Doom
Merkel pulling this little surprise is a great response to sarkozy’s little tantrum demanding germany back the bailout.
She might as well have just filmed her own sc@t scene with sarkozy playing the sub.
Juice
might not hurt to have some foriegn currency handy, perhaps a few CAD.
The key for US politicians is to keep the welfare programs flowing. americans dont riot nearly as easily as europeans or south americans. But start cutting social programs and you can bet some major urban areas are going to see hell break loose.
Comrade Nom 110:
It seems that the Jefferson quote about plows and guns is fake. It seems to have shown up as a meme in the mid-1990s.
And it is very likely that if Jefferson had written this he would have spelled it “plough”.
http://wiki.monticello.org/mediawiki/index.php/Those_who_hammer_their_guns_into_plows
With a few jeffersons in your wallet you can plough any ho you want
Franklins work better.
abrecht mach frei,
Glad to know those euros I have in Germany are getting more worthless by the day
Mr Hyde says:
May 18, 2010 at 4:07 pm
Juice
might not hurt to have some foriegn currency handy, perhaps a few CAD.
The key for US politicians is to keep the welfare programs flowing. americans dont riot nearly as easily as europeans or south americans. But start cutting social programs and you can bet some major urban areas are going to see hell break loose.
Hyde,
this is a white man’s fantasy. If anything, you’ll see the rural tweeker welfare shooting up entire families. That’s their form of protest. There’s money to be made in the ghetto, not so much in rural America. I predict that you’ll see the effects in rural America looong before the urban centers.
[149] hyde
Have recently been thinking the same, re: Looney.
[150] New
I wondered about that. If you know Jefferson’s other writings, it just didn’t sound like something he would have said, not in that way anyway. Too modern-sounding.
[144] libtard
““Effective immediately, Internal Transfers from a Chase Home Equity Line of Credit are limited to a maximum of $100,000 daily.”
Now this is interesting.”
But not surprising. The banks are ready to ratchet down credit, either individually or across a demographic, instantly.
Another one of my canaries has developed an unhealthy-sounding cough.
Doom,
A quant JPM blackbox figured out who is going to win the World Cup. I think they borrowed this box from AIG trading desk in lodon.
http://blogs.marketwatch.com/worldcup/2010/05/18/jp-morgan-quants-predict-world-cup-winner/
Greek Crisis Is Latest Excuse for Fed’s 0% Rate: Caroline Baum
More on the ejumakashun bubble:
“WHAT’S the key to success in the United States?
Short of becoming a reality TV star, the answer is rote and, some would argue, rather knee-jerk: Earn a college degree. . . .
For college students who ranked among the bottom quarter of their high school classes, the numbers are even more stark: 80 percent will probably never get a bachelor’s degree or even a two-year associate’s degree.
That can be a lot of tuition to pay, without a degree to show for it.
A small but influential group of economists and educators is pushing another pathway: for some students, no college at all. It’s time, they say, to develop credible alternatives for students unlikely to be successful pursuing a higher degree, or who may not be ready to do so. . . . .
Among those calling for such alternatives are the economists Richard K. Vedder of Ohio University and Robert I. Lerman of American University, the political scientist Charles Murray, and James E. Rosenbaum, an education professor at Northwestern. They would steer some students toward intensive, short-term vocational and career training, through expanded high school programs and corporate apprenticeships.
“It is true that we need more nanosurgeons than we did 10 to 15 years ago,” said Professor Vedder, founder of the Center for College Affordability and Productivity, a research nonprofit in Washington. “But the numbers are still relatively small compared to the numbers of nurses’ aides we’re going to need. We will need hundreds of thousands of them over the next decade.”
/snip
The goldline issue is referring to their numismatic selection. When considering numismatics, of course the price is well beyond the melt value. That is what makes it a numismatic. That’s why you buy bullion, not collectible coins. Goldline isn’t committing some massive fraud. Furthermore, anyone dumb enough to buy numismatics to try to protect themselves from inflation deserves to lose money.
That being said, I would never buy from Goldline. I pretty much only buy from APMEX.
103.
Re: Goldline,
If it is determined that you are a sucker they will try to hit you up to buy swiss francs. Tell them you are a numbers guys and only care how much metal you get per Federal Reserve Note. Also tell them that you consider coin collectors to be theatre pricks.
Stick to gold and silver eagles with no more than a 55 FRN mark up. Once they become unavailable like in 09 get maple leafs or Kugerrands.
And if you think that mark up is bad you should have priced out the US mint in Dec 2009.
1400 for a 1oz Gold Eagle.
The Housing “Recovery” Is Just Another Government Subsidy, Says Whalen
Posted May 18, 2010 01:39pm EDT by Henry Blodget in Investing, Recession, Banking, Housing
Homeowners and the real-estate industry have been heartened over the past year, as house prices have staged a startling recovery. In recent months, that recovery has started to wane, but in many parts of the country, prices are still higher than they were a year ago. And that’s welcome news for anyone who owns a house, makes their living selling or building houses, or is underwater on their mortgage.
But it’s all a mirage, says Chris Whalen, managing director at Institutional Risk Analytics. Or, more accurately, it’s all a product of government subsidies.
House prices have risen, Whalen says, because the government is desperately trying to get them to rise — to bail out banks who would otherwise be taking even bigger losses on the underwater mortgages. Similarly, house-building has restarted in earnest because some states are subsidizing house building, in part to address sky-high unemployment.
While these subsidies may have some positive benefits (jobs, happier homeowners), they also come at a cost: Our housing and debt binge will take longer to work through. Instead of dealing with the problem quickly, Whalen says, we will punish the economy for years. House prices may not fall much more, but they won’t likely take off, either. Instead, they’ll move sideways, as banks work through all the lousy loans they made in the last years of the bubble, and the country works through all the needless housing inventory we have now resumed building
Riding the NJT train home and the seats are littered with Nets Season Ticket offering papers. Flip side proudly asks ‘Will the Nets Draw the #1 Pick?! Find out tonight!’
They suck that bad that’s all there is? Can’t we just pull the plug and ship them off to Brooklyn already?
SACRAMENTO, Calif. (AP) — Facing massive investment losses, a key committee of California’s giant pension fund voted Tuesday to make the state increase its contributions to employee retirement benefits by $600 million in the coming fiscal year.
The demand comes as California grapples with a $19 billion budget deficit and a threat by Gov. Arnold Schwarzenegger to eliminate its welfare program.
The contribution increase would be for one year starting in July, but the California Public Employees Retirement System is likely to require similar increases in future years. Local school districts, already facing their own budget struggles, also will see their pension contribution rates grow.
http://finance.yahoo.com/news/Calif-pension-fund-asks-state-apf-4082852351.html?x=0&sec=topStories&pos=6&asset=&ccode=
“steer some students toward intensive, short-term vocational and career training, through expanded high school programs and corporate apprenticeship”
This is a “well, duh!” statement if ever there were one.
This fetish our society has with pushing everyone into college does many very negative things including putting people in college who should never have gone and thus driving up tuition due to increased demand. There is nothing wrong with a bright, non-academic person, learning a trade. In many cases they will do better financially than college grads.
For all those out-of-touch liberals (are there any other?) who believe that energy originates from the wall socket, or that realistic energy can be provided by unicorns or solar, here is a nice update from the leaked report on Spain’s solar disaster.
As expected, Spain is now backing off from the catastrophic economic failure of its “green economy” initiative.
Keep in mind that our Dumb-in-Chief has been publicly touting Spain as a model for us (hmm, if we want to become Greece/Spain, yes, it is the model).
For every green job created by Spain’s “green energy/unicorn” program, 2.2 real jobs were destroyed.
Energy prices “necessarily” skyrocketed (guess this is a plus for libs)
Debt skyrocketed.
http://pajamasmedia.com/blog/spains-green-policies-an-economic-disaster/?singlepage=true
“But today’s leaked document reveals that even the socialist Spanish government now acknowledges the ruinous effects of green economic policy.”
Go unicorn!
make (157)-
The England team is mediocre, at best. However, it’s always entertaining to see that whole degenerate nation work itself into a fever pitch, only to see their 11 gag like clockwork every four years.
jamil (167)-
Aren’t you missing Glenn Beck right now?
Philly.com says low voter turnout in rain-soaked Philly burbs.
That, and the on-line poll, spell doom for Benedict Arlen.
Sestak’s best hope is his opponent. Toomey doesn’t campaign well or resonate with the welfare crowd, a very large bloc in PA.
Several major FX desks now getting margin calls.
plume (170)-
Pretty soon, we’ll be eating the welfare crowd.
Soylent Green is people.
Somebody talk Mrs. Watanabe off the ledge.
What is the life of a townhouse? Many of the townhouses I see in central NJ are around 23 to 25 years old? Is it that townhouse started only in 1980s?Would it be wise to move into one?
174.
Stay away from townhouses.
If you believe in surrenduring your initiative and assuming responsibility for every fat @ss American loser in the complex then by all means get a townhouse.
#64 Comrade Nom
Yes, that legislation is good news indeed for craft beer lovers. I first heard about it when the House version was introduced a while back.
And your instincts about raising the small brewery ceiling from 2MM barrels to 6MM barrels are correct. This is being referred to in beer geek circles as the “Sam Adams clause”.
Boston Beer Company is the 4th largest brewing company in the US. Craft beer makes up only 5% of US beer sales but Sam Adams accounts for 20% of those sales. There are nearly 1500 craft breweries that brew the remaining 80%.
Note: Beer of the Day – Flying Mouflan Ale from Troegs of Harrisburg, PA. Its a delicious barleywine that hides its 9.3% ABV very well. Cheers!
166- Maybe, maybe they will do better learning a trade. But the sad reality I see is that many jobs say you must have a college degree, or at least an associates to even get in the front door. These are just to weed out the number of applicants, but nonetheless that’s the way it is. Two guys I know now in the trades have gone out of business and are finding it really difficult to even get interviews. They don’t have college degrees. Another friend is a legal secretary with 25 years of experience but no college degree. Very difficult for her to compete right now, believe it or not.
And that article in post 159 talks about the need for nurse’s aides. I don’t see how you are supposed to support yourself, let alone a family unit on the wages earned in that profession.
The only real answer to this is to assume it will hppen to you and prepare for damage limitation.
http://www.youtube.com/watch?v=iC38D5am7go
[177] house whine
I don’t analyze it because, like a tax profile, you can’t come up with a one-size-fits-all rule.
Perhaps the insistence on degrees to be a postal carrier is ridiculous. OTOH, the bachelors is today what the diploma was 40 years ago, which is evidence of some ability to think rationally and communicate effectively (increasingly rare, even among grads). So, no, I don’t know the answer. All I know is if D1 wants to be a hairdresser, I will send her there, and not to college, and help her open that shop and show her how to run a business.
In fact, with such a low profile, sheltering her assets will be that much easier.
Anyone have any thoughts on e-Readers. I have a lot of PDF’s to read. At 300+ pages they are too big to print and the laptop is just not cutting it with all the scrolling.
Clot
JP Morgan in the UK are saying England over Spain in final. I called England about six months ago and I’m sticking with it.
gluteus (181)-
The fact that JPM and you are on England automatically puts me on Spain’s side.
It would be fun watching Stevie G and Fat Frank chase Xavi & Iniesta all over the field, though. Almost as much fun as watching Torres finish after beating one-legged Ledley King and (urrrp) John “Teammate” Terry.
Lampard couldn’t even get a touch vs Xavi or Iniesta last year in Champions’ League; what makes you think it’d go any better for him this year?
A man playing on one leg (King) is England’s best back.
Spain’s two center backs are Pique and Puyol. No contest.
FabMax,
My gf raves about the nook from Barnes & Noble.
Clot,
The simnple fact is when Spain hit the big stage, they choke.
I can still see Gerry Armstrong puttig one past them in 82.
Note to self.
Why I need to get my handgun permits.
http://www.youtube.com/watch?v=8W91EWQv4Fc
glute (187)-
It’s 2010. As far as the big stage, I seem to remember them winning Euro ’08. All those Barca guys also won 6 cups last year.
Alabama is just the state that keeps on giving…
Alabama Teacher Gives Geometry Lesson Using Assassination As Example
The Secret Service investigated an Alabama high school teacher for using the example of shooting President Obama while teaching a geometry lesson.
The Secret Service spoke with the man, a teacher at Corner High School in Jefferson County, but decided not to arrest him.
“We did not find a credible threat,” Roy Sexton, of Birmingham’s Secret Service office, told the Birmingham News. “As far as the Secret Service is concerned, we looked into it, we talked to the gentleman and we have closed our investigation.”
A student in the class described the lesson: “He was talking about angles and said, ‘If you’re in this building, you would need to take this angle to shoot the president.'”
The district superintendent told the News that the unnamed teacher will not be disciplined.
“We are going to have a long conversation with him about what’s appropriate,” he said. “It was extremely poor judgment on his part, and a poor choice of words.”
The superintendent, Phil Hammonds, did not immediately return a request for comment.
Late update: The teacher has been placed on paid leave and may be fired.
http://tpmlivewire.talkingpointsmemo.com/2010/05/alabama-teacher-gives-geometry-lesson-using-assassination-as-example.php?ref=fpb
The great race to the bottom intensifies.
“After earlier we saw the decimation of the European currency, it is now Asia’s turn where an impressive bloodbath is now raging. The AUDUSD is in freefall, having moved a massive 300 pips from yesterday’s high to today’s low. At under 50 pips from 0.855, the AUDUSD will likely breach 0.85 at which point the destruction at carry desks will become an epidemic, and full liquidations will soon ensue, coupled with billion dollar margin calls, forcing global asset liquidations at bulge brackets. With the carry collapse pervasive, don’t look to futures to stage any miraculous Fed-inspired ramps tonight: Germany may have well called the Fed’s bluff.”
http://www.zerohedge.com/article/carry-bloodbath-resumes-full-blown-liquidations-imminent
Manville woman must forfeit her ‘Bioch’ license plates after complaint of profanity
http://www.nj.com/
All the margin calls will lead to forced selling of shiny.
Tomorrow may be the beginning of the last, best chance to load up.
Physical only…since settlement of paper gold will be exclusively in worthless paper.
nonsense
Benedict Arlen is done…
http://www.msnbc.msn.com/id/37210973/ns/politics-decision_2010/
EUR/USD = 1.2185
Ben better buy some more euros or the USA will not be able to sell things overseas.
The race to zero continues.
Al Gore, I need an update to your meltdown time table.
196.
Hype,
Its advanced by 1 quarter.
I will never understand how desperate people are to flock to US treasuries for safety.
#189 Clot
Did you forget the Confedeations Cup last year when they lost the semi to the US?
A warm-up tournament? You’re kidding, right?
Before the loss to the US, Spain was underfeated in 35 straight matches. I believe that is a record.
“The only final arbiter in the reg reform issue will be the market itself, which will resolve everything the second it crashes once and for all. And judging by the size of the carry unwind currently occurring, we may not have to wait long. Which is why we think that Angela Merkel may have brought about the unwinding of the market that will be the one real catalyst to any real reform: after all, for people to express any interest in what is going on in Wall Street’s Washington branch, people will have to lose everything… again. As Senator Sanders says, the American people have got to stand up. He is right, however the only thing that will wake America out of its slumber will be one more terminal crash, the one that corrupt and busted finreg reform was supposed to prevent.”
http://www.zerohedge.com/article/ratigan-and-sanders-were-oligarchy-and-its-getting-worse
200. He is right, however the only thing that will wake America out of its slumber will be one more terminal crash, the one that corrupt and busted finreg reform was supposed to prevent.
Sad but True, the entire system is corrupt. The Death Penalty needs to be applied to 99% of Congress for Economic Treason coupled with a seizure of all their assets. Until we make DC criminality unprofitable, it cannot be halted.
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