All I can say is… Huh? Rumor has it the section committee was a group of kindergarten teachers. They decided that, to be fair, everyone should get a ribbon pony.
In all seriousness, this is nothing more than a ploy by the NAR. They’ve made back room deals with all of the major list-zines such that every town in the US will appear favorably on at least one list every few years, lest the Realtors run out of puffery. Word on the street is that Camden is up for the “Best towns for bachelors” list next year.
Franklin Township, we welcome YOU to the spotlight. How far you’ve come from being the town named after Benjamin Franklin’s illegitimate son.
From the Star Ledger:
Money Magazine’s ‘best places to live’ list includes four N.J. towns
Money Magazine’s list of ‘best places to live’ in the United States includes four New Jersey towns in the top 100 ranking, according to CNNMoney.com.
Franklin Township in Somerset County ranked the highest on the list at 34, while nearby Piscataway in Middlesex County came in 57, Wayne in Passaic County ranked 73, and Middletown in Monmouth County ranked 89.
From CNN/Money:
Best Places to Live – Money’s list of America’s best small cities
1 Eden Prairie, MN 64,000
2 Columbia/Ellicott City, MD 155,000
3 Newton, MA 82,000
4 Bellevue, WA 124,000
5 McKinney, TX 125,000
6 Fort Collins, CO 141,000
7 Overland Park, KS 175,000
8 Fishers, IN 69,000
9 Ames, IA 60,000
10 Rogers, AR 57,000
…
34 Franklin, NJ 61,000
…
57 Piscataway, NJ 53,000
…
73 Wayne, NJ 53,000
…
89 Middletown, NJ 69,000
F I R S T…
Hell is a better place to live than Pisc@taway.
Is a large MS-13 presence considered an enhancement to a town’s lifestyle?
If so, I can see Franklin Twp at #34.
re: Wayne
Given the popularity of Real Housewives and Jersey Shore, Money Magazine awarded special consideration to towns with big hair and a sick guido fist pump.
LeBron James….. ist das Opium des Volkes.
Wayne, NJ?
yeah right. cookie cutter.
I’m in the mood for some Kielbasa.
I better find me some.
SAS
Gangs? Say it ain’t so!
http://njgangsurvey.civicimpulse.com/muni/1808
Franklin Township, Somerset County
Gangs: 9 worse than 98% of all municipalities (7th highest in all of NJ)
Most Recruiting Gang: Bloods
Most Problematic Gang: Bloods
The following street gangs are found here:
* Bloods
* Crips
* Latin Kings
* MS-13
* Pagans Motorcycle Club
* Eighteenth Street Gang
* Five Percenters
* La Mugre
Piscataway is home to the sacred land that housed several manufacturing units, and hence deserves a high rating. One has to drive 5 miles to get coffee, but can easily walk to large cemeteries and superfund sites.
Five Percenters? I guess that’s what we Realtors are calling ourselves nowadays.
Grim 5:56 – Hey gang members need to live somewhere too!
What, no Montclair?
Clearly, Money Magazine does not appreciate the diversity of Montclair.
Americans’ credit scores at new lows
FICO: One in four consumers now a poor risk for lenders
http://www.msnbc.msn.com/id/38205674
Clearly, Money Magazine does not appreciate the diversity of Montclair.
Montclair was #3 in the NY Post’s “Best places to be a young, smart, beautiful, and successful ex-New Yorker expecting at least two kids to make the ROI calculation work” list last year.
But how will I know if the “Gang Lifestyle” is for me?
Does the phrase “riding dirty” make any sense to you at all?
From Bloomberg:
Goldman Sachs, Citigroup Sued Over Subprime Loans
Goldman Sachs Group Inc., Citigroup Inc. and Morgan Stanley were sued by a Boston area-based fund seeking reimbursement for losses related to subprime loans, according to lawyers for the firm.
Cambridge Place Investment Management Inc., founded by founded by ex-Goldman Sachs Group bankers Martin Finegold and Robert Kramer, lost more than $1.2 billion as a result of the banks’ untrue statements, the company claims in a complaint filed July 9 in state court in Massachusetts.
The banks sold securities backed by mortgages that came from a “small group of now notorious subprime mortgage originators,” used faulty appraisals, accepted misleading information in loan applications, and violated their own standards for underwriting, the firm claims in the lawsuit. The banks offered or sold $2.4 billion of residential mortgage- backed securities using untrue statements, according to the lawsuit.
“The Wall Street banks conducted inadequate due diligence and failed to satisfy their own responsibilities,” Cambridge Place said in the lawsuit.
This isnt a problem is it?
Kentucky Retirees May Soon Outnumber Pension Contributors\\\<i.Just four years ago, there were 51,027 state workers contributing toward the pension fund and 34,120 retirees drawing benefits from it. By 2009, the number of workers slipped to 50,394 while the number of retirees leapt 19 percent to 40,531.
(In a separate fund for Kentucky State Police workers, there already are 239 more retirees getting pensions than active troopers on duty. County governments, served by a third fund, had 93,481 workers and 45,564 retirees.)
http://www.kentucky.com/2010/07/04/1335884_p2/retirees-may-soon-outnumber-workers.html#ixzz0tVKgOyY9%20%20
7:07…After consulting the Urban Dictionary….I will say….”yes”. and leave it at that.
i don’t think anyone disagrees with this, Meter
meter says:
July 12, 2010 at 9:51 am
Take a look around.
If you think your enemy is a poor single mother barely subsisting in a Trenton tenement rather than a Westport, CT-based hedge fund trader, you’re delusional.
Piscataway is 57th?? Or wait better yet -Piscataway is on the list???
God Help America..
Does the kayak comes with leaving in Wayne?
Franklin Twp. is not the first place I would ever think of moving to in Central NJ. It’s a strange area because there are some more upscale spots with large homes and wooded areas just a few miles away from the more urban zone. You have to be very careful which neighborhood you select. I do like the easy access to major roads but then again you get a lot of traffic because of such access. They have had a major physical fight recently at the high school. It’s just too “iffy” of a town for my liking.
Wayne at #73
So my friend was right not to accept the offer from FEMA for his place in Hoffman Grove.
Big Link, slow download
http://www.abandonedbutnotforgotten.com/hoffman_grove_wayne_nj.htm
I think those Forbes and Money Mag lists are generated from random zipcode searches. and the use wikipedia for their info
Holy smokes I grew up in Wayne NJ
Nothing special there! Except for a Red Head I used to know.
Nice job here, Stu.
Libtard In the City says:
July 12, 2010 at 12:20 pm
Jamil is playing cow patties because the hypocrisy evident in his posts make him full of sh1t. Poor manipulated Jamil doesn’t realize that Drudge and Limbaugh are part of that same MSM he likes to complain about all of the time.
Jamil, you really can’t complain that Obama sleeps with BP when it was your messiah, the retarded cheerleader of the North along with Rudy G, who stole the convention with the three words, ‘Drill Baby Drill.’ I suppose they accomplished their mission?
“Pagans Motorcycle Club”
yup, one of many “MC” I’ve had encounters.
a little tip, be weary of a motorcyle gangsters:
-Harley handle bars, they have little knives and daggers with those things for a quick slice & dice.
-and people who don’t spread their fingers.
SAS
Eden Prarie? Hahhaha,Wells Fargo owns that town and they give regular foreclosure tours!
All Right Middletown…..number 89 and movin’ on up!
Go you Eagles !!
Franklin is slipping…they were in the Top 10 in 2008.
One man’s “iffy” is another man’s “diversity”.
And goooo Piscataway! The townies may hate Rutgers, but RU is the best thing going in Pway.
Well, I grew up in Middletown and I currently live in Franklin. I much prefer Franklin, since it’s close to everything. We’re planning to stay here. We love the ethnic diversity, and most neighborhoods are quite nice. We have easy access to the theater, Rutgers, and the many great and varied restaurants of New Brunswick. We also spend a lot of time in Princeton for its shopping and cultural attractions. My husband likes that there’s a lot of history here (there is–check it out). The people I know who live here are educated and fairly broad minded. We can be in NYC in less than an hour and at the beach in 45 minutes. While I do not send my children to the public schools because of the aforementioned problems with a SMALL percentage of the population, I would say beyond that, Franklin is a great place to live. Incidentally, this is not the first time it’s made the Money Magazine list–it was number 5 in ’08.
One other point–if gang presence is your only barometer, get out of NJ. Princeton Borough and Princeton Township are worse than 91% and 85% of communities respectively.
31. The melting pot is a metaphor for a heterogeneous society becoming more homogeneous, the different elements “melting together” into a harmonious whole with a common culture. It is particularly used to describe the assimilation of immigrants to the United States; the melting-together metaphor was in use by the 1780s.
After 1970 the desirability of assimilation and the melting pot model was challenged by proponents of multiculturalism, who assert that cultural differences within society are valuable and should be preserved, proposing the alternative metaphor of the salad bowl – different cultures mix, but remain distinct.
10:38 you missed it. Colors all fading into one.
Gang survey seems to reflect the politics of the local police dept more than the actual presence/absence of gangs. Look at the Union County data: no gangs in Fanwood, Garwood, Clark, Mountainside, Springfield and Summit – but gangs in Westfield, Scotch Plains, Berkeley Heights and New Providence. Give me a break!
Aw cr@p! I like to ride my bike along river road from East Amwel to Rocky Hill and then back along the D&R Canal towpath—right along the edge of this area. This area is right on the edge of Franklin Twnshp. I’ve always assumed it was safe but perhaps I should no longer assume . . .
“no gangs in Fanwood, Garwood, Clark, Mountainside, Springfield and Summit but gangs in Westfield, Scotch Plains, Berkeley Heights and New Providence”
One may also reasonably conclude that the availability of anti-gang funding drives some of this self reporting.
Don’t know anything about Franklin, but I grew up in Middletown and still have family there and I went to RU and had friends in Piscataway and the two do not compare – Middletown has beautiful areas and the train/Ferry/buses to NY for work. Try to get to the beach from Pway – no way is more like it!
Now if they connect MetroPark to the North Jersey Coastline, Belmar will be toast…
Essex says:
July 12, 2010 at 11:28 pm
10:38 you missed it. Colors all fading into one.
Actually, Colors all fading into one, is more akin to Melting Pot, then Multiculturalism. Rather then celebrating Diversity in the Salad Bowl, you are destroying Diversity in the Melting Pot.
From the Philly Inquirer:
New Jersey Assembly passes property-tax cap
The New Jersey Assembly gave final legislative approval Monday to legislation to cap property-tax increases at 2 percent annually, a compromise version of the centerpiece of Gov. Christie’s plan to tackle property taxes.
The vote came just nine days after Christie and Senate President Stephen Sweeney (D., Gloucester) announced they had reached a compromise on the bill and about two weeks after the Legislature approved a $29.4 billion budget almost identical to the one proposed by Christie in March.
The governor is expected to sign the bill into law on Tuesday.
From the Star Ledger:
Poll: N.J. residents skeptical that 2 percent property tax cap will fix underlying problems
A new poll finds most New Jerseyans are skeptical that a 2 percent property tax cap will fix the underlying problems causing the nation’s highest property taxes.
The Monmouth University/Gannett New Jersey Press Media Poll out Tuesday finds three-quarters of residents believe the state’s tax problems will persist.
Fifty-four percent of those polled say they would have preferred a 2.5 percent cap written into the Constitution as Gov. Chris Christie proposed.
Thirty-five percent prefer the compromise that caps property tax growth at 2 percent but allows exceptions for expenses such as employee pensions and health care costs.
From Bloomberg:
Miami’s Downtown Comes Alive as Condos Fill With Young Renters
Brandon Klein has done what few Floridians can: go weeks without driving his car.
The 26-year-old tax accountant walks three blocks from his condominium tower on Biscayne Bay in Miami to his office at Deloitte LLP. On weekends, he and his friends hang out on the pool deck or share a cab to a local Irish pub.
He lives in Downtown, a neighborhood where young people are renting condos built during the 2004 to 2008 boom to attract second-home buyers. Thanks to the housing crash, Klein and two roommates pay about $900 a month each for an obstructed waterfront view, a wraparound balcony and access to a gym, spa and steam room.
“Five years ago you wouldn’t have kids fresh out of college living in luxury like this,” said Klein, sitting in front of the 24-hour concierge in the three-story lobby of his building at 50 Biscayne Boulevard, coordinating happy-hour plans by text message. His friends are concentrated in nearby Met I, which has 447 luxury units and a steakhouse on the first floor. They refer to the building as “Deloitte Dorm” because it’s home to so many employees of the accounting and consulting firm.
The 7,000 unsold condos in Miami’s core — a symbol of a building boom that collapsed and dragged the city into recession — are filling up and giving life to neighborhoods that previously closed after dark. New, year-round residents are cramming into restaurants, nightclubs and bars that didn’t exist a few years ago, and enjoying a lifestyle made possible in part by developers and banks seeking to recoup losses by renting luxury dwellings until the market recovers.
NJ schools losing talent?
From the Daily Record:
Many teachers are exiting
More New Jersey school teachers than usual are leaving their jobs.
This July, retirement applications have been filed by almost 5,500 teachers, according to the state Department of Treasury’s Division of Pensions and Benefits. A year ago in July, only about 2,200 teachers filed applications to retire.
Teachers, like everyone else, retire for a variety of reasons. However, the teacher exodus in New Jersey may result from the governor’s attempt to rein in salaries and benefits. Reforms championed by Gov. Chris Christie will require teachers to
pay a small portion of their health costs when current contracts expire.
The governor, who sought, but did not get a teacher salary freeze for this school year, also has talked about rolling back a 9 percent pension increase that was granted in 2001 and changing the calculation to determine the pension amount from the average of the last three years of salary to the last five.
Comment font size too small? A number of folks said the type was just too large and it took too long to scroll.
6:23 a building full of accountants and consultants. Would rather live in a leper colony.
Re NJ teachers retiring: maybe they’re just tired of being public enemy #1 – ready to move to greener pastures and let all the irresponsible parents teach their own darn kids. The Christie witch hunt is absolutely ridiculous.
Re the font: I liked it a little bigger, but this seems to work too…
Font Size: If you use Firefox you can increase the font size by pressing Ctrl and +, Ctrl and – will decrease it.
If you’re using IE…. ewww. Really?
Someone sent a pigeon over with a note telling me the display on their abacus was messed up, something about all the beads being shifted to the right on the third row.
Also;
Middletown? What made it stand out? Is it the ready access to 2 Kohls? The plentiful supply of Starbucks? The free public parking cleverly disguised as Rt 35? I know, its thecreepy clown sign at the old Food Circus.
Portugal got 2 notches hair cut from Moody.They just wont let you forget.
Hearing estimates of a 25 bps bump in GDP for Spain as a result of winning the cup.
On a handheld, the font is just fine, even for middle-aged eyes.
On the other hand, is it possible to get the comments link repositioned to just below the thread headline?
“Hearing estimates of a 25 bps bump in GDP for Spain”
Is that idn repairing broken windows, burnt-out cars, and other destruction causes by celebrating fans?
Oh, wait, that would be Detroit.
Thanks much for the font instructions. Personally, the font is definitely too small for my middle-aged eyes. But overall, Change is good!
It is change you can believe in, unlike BO:
About 60 percent of American voters say they are losing both faith and confidence in President Obama, according to a public opinion poll published Tuesday.
The results of the Washington Post/ABC News poll are a 180-degree turn from the start of Obama’s presidency 18 months ago, with nearly 60 percent of those polled saying they lack faith in the commander-in-chief. In January of 2009, 60 percent said they were confident in his decision-making.
When asked how much confidence they have in Obama to make the right decisions for the country’s future, 58 percent of respondents said “just some” or “none,” according to the poll.
While these numbers are a new low for Obama, 68 percent expressed the same view about Democrats in Congress and 72 percent said the same of Republicans, Reuters reported.
Trouble in the housing industry, slow job growth and other economic woes may be to blame for Obama’s plummeting approval rating, the Post speculated.
As for the best places list. I hear that the same evaluators are selecting the hottest/sexiest actresses andRosie O’Donnell is near the top of their list.
Off to the salt mine.
Definite stench of death in the air this AM.
Franklin Township, Somerset County
I used to be a firefighter in Franklin Township back in college. As a firefighter you really get to learn a lot about a town by seeing what’s really going on. Now, I have been a firefighter in several towns, and every town can have a few bad apples, but Franklin Township was something special. A few of my favorite calls:
1 – guy smokes crack while on the toilet..passes out…drops torch..sets plastic seat on fire and burns his “manhood”
2 – guy chases woman out of house with ax then sets house on fire
3 – go into fire…heavy smoke…wonder why floor is so “squishy”…turns out entire house is covered in mattresses and being used as a flop house
In fairness, I was on the New Brunswick side of town. Franklin Township is a big town and the other end is pretty decent.
I’m going to surmise that when Money Magazine talks about Middletown, they’re referring to the high-end sections over by BonJovi and Mighty Max Weinberg’s homes.
Money Mag is looking at it from the perspective of Steve Van Zandt, Debbie Harry, Connie Chung & Maury, Brian Williams, Geraldo (before the divorce), Kevin Smith (Clerks), Knowshon Moreno, Bob Tucker…….. hey, this is even Vince Lombardi’s final resting place.
59. New Providence, other then Taxes, was a very nice place to live.
In all seriousness, this is nothing more than a ploy by the NAR. They’ve made back room deals with all of the major list-zines such that every town in the US will appear favorably on at least one list every few years
Agree. It’s interesting to note that the 4 towns listed for NJ are all large towns. Out of 566 towns, in terms of populations, the “4 best towns in NJ” rank; 17 Middletown, 26 Wayne, 27 Franklin & 29 Piscataway.
The bigger towns are either more urban (Newark) or have already made it to a list (Parsippany, Toms River).
I guess there is no use “wasting” a top town designation on a small town that can’t generate many sales when you only get 4.
This font size is fine but I’m with Shore – I’d like the link to the comments to be under the thread headline. I’m getting used to the re-decorated neighborhood though.
Re NJ teachers retiring: maybe they’re just tired of being public enemy #1 – ready to move to greener pastures and let all the irresponsible parents teach their own darn kids. The Christie witch hunt is absolutely ridiculous.
It’s possible that some retired for this reason. For others, they want to retire before any retirement changes are enacted. I had a retirement eligible teacher tell me that directly.
But it will ultimately back fire on the retirees. The more retirees that pile into an unfunded retirement program that’s getting stagnant market returns, the sooner it becomes insolvent.
I think that’s ultimately part of Christies plan. Get the higher paid older teachers off this year’s budget, which helps immediately. And stop funding the pension benefit, which push the retirment fund to insolvency sooner rather than later.
http://moremoney.blogs.money.cnn.com/2010/07/12/are-you-borrowing-too-much-for-college/
A lipstick on a pig attempt to blame the players when the game is rigged. The only way up the latter is through debt. Period.
…In moderation…Let me try this again
It’s interesting to note that the 4 towns listed for NJ are all large towns. Out of 566 towns, in terms of populations, the “4 best towns in NJ” rank; 17 Middletown, 26 Wayne, 27 Franklin & 29 Piscataway.
I guess there is no use “wasting” a top town designation on a small town that can’t generate many sales.
http://online.wsj.com/article/SB10001424052748704288204575362882033038278.html
“U.S. Queries 64 Issuers of Mortgage Securities, Others”
“U.S. subpoenas, issued on Monday by the Federal Housing Finance Agency, which oversees the government-backed mortgage titans, could lead the government to recoup some of the billions of dollars that Fannie Mae and Freddie Mac lost when they scooped up mortgage-backed securities issued by Wall Street banks during the housing boom.”
Definite stench of death in the air this AM.
________________________________
Doom, don’t be so negative. The market will go up today. Just look at Alcoa. They beat the street by 2 cents. Of course they had to lower their guidance at least 6 times over the past 90 days to 11 cents per share. But hey, this is America and all that matters is the headline. This is what the wife told me and she works in financial media.
Futures on the dow up 74 – rally on!!
time to reload mores shorts : )
sl
….dang keypad
Who is mores and what are you putting in his shorts?
stillLooking:
No need for shorts anymore. This time it is truly different. Skynet and HAL will give us S&P 1300 by the end of the year. With them in charge we do not need:
1. Jobs
2. Increase in wages
3. Higher housing sales
4. Increased car sales
5. Lower personal debt levels
6. Gubbermint control of spending
7. Need to recognize bank losses
http://jessescrossroadscafe.blogspot.com/2010/07/chris-whalen-sensibly-calls-for-reforms.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
Chris Whalen reviewed by Jesse..
HEHEHE
I bought the dip the last week in the market. am SELL SELL SELL today. got my nut and time to go home. Greed kills
Lib 930: just loading up more shit…(more MSM bullshit, that is.) :)
Hype, 932: woo hoo! no shorts! just naked swimming! (too bad it’s a cesspool!)
When you swim in these market waters, you better bring a lice comb to clean off your shorthairs when you get out.
sl
George Steinbrenner is at death’s door.
anyone have him in the death pool?
Steinbrenner massive heart attack….
Goddamned Abe Vigoda…
SL:
I am so out of this market already. I often use the production metrics at my current employ (financial printer) to determine the outlook for our economy and things ain’t looking all that rosy. Especially not in the current quarter. I provide daily metrics to our executives so they can get a real-time view of the quarter and it has never been as bad as the last two months from a revenue perspective. Sure we might melt up for another short while, but at some point, the consumer is gonna tap out. I really expect the upcoming CS numbers to put an early end to the post great recession Wall Street rally, but I’m not willing to invest any of my future home downpayment in it though as the market is no place to invest when the gubmint at the urging of Wall Street changes the rules to their advantage to avoid any real losses.
George must have looked at his payroll numbers. The Yankees will spell the demise of the American past time.
http://baseball.about.com/od/newsrumors/a/2010baseballteampayrolls.htm
If you live in the tri-state area, you are paying Steinbrenner $2 per month involuntarily. Look up the YES network contract.
http://quotingthecrisis.tumblr.com/post/805817380/chart-o-doom-when-will-new-jerseys-public
Clot – Figured you would love the title: Chart-o-doom
Lib, 946
Apart from my 401K (mostly bonds) I have just.this.close.to.zero in the long market. Maybe another 10-20K in IRA stuff that I haven’t bothered to move or do anything with.
None of my house d.p. $ is in the market. I agree with you (and most everyone else here) that it’s just a rigged casino- like all casinos. I’m just doing short term short plays, that’s about all.
sl
Sadly, I’ve been doing significantly better in the casino then in the market over the past two years.
Still-Looking (9:55):
Smart girl you are. We have almost the same thinking on saving right now. This casino called the stock markets are a complete joke. Love the fact that Alcoa can raise the market cap of all stocks by tens of billions of dollars based upon a beat of their 6 times downward revised quartely estimate. Party on Wayne……
Things won’t change until the crooks start taking bullets in the head.
Revolution now!!!! Anarchy now!!!!!
The Boss is dead…..
http://www.nj.com/yankees/index.ssf/2010/07/george_steinbrenner_dies_after.html
libtard,
I will be the first to admit i am gambling. Its just a different casino then you use.
I wonder what this means for Warren realtors, who all last year promoted their town as being ranked #6 in the nation. Now this year it falls off the radar. WTF?
How can towns just randomly fall in and out of the top 100? I think whoever does this for Money must get some realtor money. It’s about as legit as the “top 10 steakhouses” advertisement in those airline magazines.
SL,
Did you ever finish Atlas Shrugged?
Checklist on Bergabe’s massive fail:
“In case no one is keeping track, Bernanke has now fired every bullet from his 2002 “helicopter drop” speech Deflation: Making Sure “It” Doesn’t Happen Here.
Bernanke’s Scorecard
Here is Bernanke’s roadmap, and a “point-by-point” list from that speech.
1. Reduce nominal interest rate to zero. Check. That didn’t work…
2. Increase the number of dollars in circulation, or credibly threaten to do so. Check. That didn’t work…
3. Expand the scale of asset purchases or, possibly, expand the menu of assets it buys. Check & check. That didn’t work…
4. Make low-interest-rate loans to banks. Check. That didn’t work…
5. Cooperate with fiscal authorities to inject more money. Check. That didn’t work…
6. Lower rates further out along the Treasury term structure. Check. That didn’t work…
7. Commit to holding the overnight rate at zero for some specified period. Check. That didn’t work…
8. Begin announcing explicit ceilings for yields on longer-maturity Treasury debt (bonds maturing within the next two years); enforce interest-rate ceilings by committing to make unlimited purchases of securities at prices consistent with the targeted yields. Check, and check. That didn’t work…
9. If that proves insufficient, cap yields of Treasury securities at still longer maturities, say three to six years. Check (they’re buying out to 7 years right now.) That didn’t work…
10. Use its existing authority to operate in the markets for agency debt. Check (in fact, they “own” the agency debt market!) That didn’t work…
11. Influence yields on privately issued securities. (Note: the Fed used to be restricted in doing that, but not anymore.) Check. That didn’t work…
12. Offer fixed-term loans to banks at low or zero interest, with a wide range of private assets deemed eligible as collateral (…Well, I’m still waiting for them to accept bellybutton lint & Beanie Babies, but I’m sure my patience will be rewarded. Besides their “mark-to-maturity” offers will be more than enticing!) Anyway… Check. That didn’t work…
13. Buy foreign government debt (and although Ben didn’t specifically mention it, let’s not forget those dollar swaps with foreign nations.) Check. That didn’t work…
Bernanke has failed. “It” has happened.”
http://globaleconomicanalysis.blogspot.com/2010/07/are-we-trending-towards-deflation-or-in.html
Anybody have a Steinbrenner/Bob Sheppard parlay in their death pool?
I had Lindsey Lohan going before both of them.
[The Costanza house, Queens]
(Steinbrenner is knocking, Estelle opens the door)
STEINBRENNER: Mrs. Costanza?
ESTELLE: Yesss?
STEINBRENNER: My name is George Steinbrenner, I’m afraid I have some very sad new about your son.
ESTELLE : I can’t believe it, he was so young. How could this have happened?
STEINBRENNER: Well, he’d been logging some pretty heavy hours, first one in in the morning, last one to leave at night. That kid was a human dynamo.
ESTELLE: Are you sure you’re talking about George?
STEINBRENNER: You are Mr. and Mrs. Costanza?
FRANK: What the hell did you trade Jay Buener for?!? He had 30 home runs, and over 100 RBIs last year. He’s got a rocket for an arm – – you don’t know what the hell you’re doin’!!
AWest, 1020
Yep, finished it a while ago… I loved it except the ending got a bit weird and the John Galt radio address (some 30 or more pages or so) got verbose, redundant and was ‘flat’ — it could have used some serious editing at that point. I think it was around pages 800 or so that it turned.
Overall, I did really enjoy it – I plan to reread it to see the earlier parts of the book where Galt was actually ‘there’ and the reader wouldn’t have known it til after finishing the book.
sl
Hype 10:05 “We have almost the same thinking on saving right now. This casino called the stock markets are a complete joke.”
Is this the “Death to Equities” article of njrereport?
We must be getting close to bottom then.
nowhere near it. You forget, MSM hasn’t even close to caught up with grim’s blog.
sl
NJC, Fiddy, Shore, et al:
So I took NJCoast’s advice and was looking at the auction lists.
Upcoming auction properties in Belmar and Bradley,
July 19,
501 Fifth Avenue Belmar $1,533,252.11. I don’t see this one listed on MLS any more – it had been there for ages.
July 26, 2010,
314 Fifth Avenue Belmar $1,225,292.99. Listed for around a million on MLS.
300 Third Avenue Bradley Beach $939,148.69.
201 16th Avenue Belmar $846,977.76.
August 02, 2010
605 8th Avenue Belmar $391,952.00
August 09, 2010
304 9th Avenue Belmar $1,077,285.75
Sidewalk sales anybody?
BeachBum – Article month in the APP says few are buying the foreclosures, nearly everything is going back to the bank.
http://www.app.com/article/20100613/BUSINESS/6130314/Who-buys-foreclosed-homes-
Hyde,
Good move. Have a feeling, “sell the news” is going to be the norm over the length of this earnings season.
SL,
Atlas is better the second time. F.D’A becomes even more entertaining. And you can pick up a lot more implications that it’s easy to overlook the first time.
Juice, thanks for the link – I had looked for the article some days ago and couldn’t find it. It does seem like an inefficient system because when you look at the listings, the same properties get rescheduled a million times. There was one house on Inlet Terrace in Belmar that was on the docket like 8 times. Don’t know what happened to it. From the listings you can see the bubble in all its glory! 1.5 million for a house in BELMAR people, it’s not Montauk or Beach Head for god’s sake! And no water view – c’mon!
“1.5 million for a house in BELMAR people, it’s not Montauk or Beach Head for god’s sake! And no water view – c’mon!”
But how close is it to D’Jais?
http://www.youtube.com/watch?v=9RfUMBgfhn0
Beach,
I lived there for years and it is a nice enough place but those prices are, simply, absurd.
Stu,
If business gets worse, do you add one more job title and decrease your pay by 1/3 or do you double the titles and decrease by 1/2?
“, nearly everything is going back to the bank”
For most buyers, isn’t this the best thing? If nothing else, the former occupants are gone. Wouldn’t title be less muddied?
re: Belmar – I know someone trying to sell a place there. Paid about $180 for it 10 years ago and now has it listed for about 500k, with little improvements, and they wonder why there are no bids?
Gonna be a long walk home for Belmar, lots of those ginormous places are for sale for crazy prices.
$3.2 Million to have a place to crash after a night at DJs.
http://www.zillow.com/homedetails/313-Ocean-Ave-Belmar-NJ-07719/39223386_zpid/
The oversized places on Ocean Ave may look out over the ocean, but they also overlook a busy street and then there is the noise from a busy boardwalk and busy public beach. The same money buys so much more in so many different towns.
At least those places serve as a mechanism for parting fools from their money.
Lib,
If you live in the tri-state area, you are paying Steinbrenner $2 per month involuntarily. Look up the YES network contract.
Not if you don’t pay for cable. I get 5 (now 12, post-DTV) PBS channels for kiddie stuff, plus literally hundreds of DVDs, and the rest of what is on TV is dreck. I couldn’t imagine paying for any of it, much less $115/mo. by the time you add in and extra set and premium channels to get anything worth watching.
And I’m a Yankees fan. I listen to Sterling. Still miss Kay. Susan’s just a-ight (real face for radio, though).
Juice – what the beautiful photos don’t tell you – since they’re not scratch and sniff is that the house is across the street from Buono Serra (sp?) and the smell of garlic is absolutely overpowering. It could be on the rooftop you can’t smell it, but from the front porch it is unbearable!
Shore – agree with you on the town. I like Belmar and am going back again this summer, but it’s just a regular place – with regular people, not a $1.5 million place for 5 blocks from the beach.
That’s a very nice place, but not 3.2M nice.
jamil says:
July 13, 2010 at 10:43 am
Is this the “Death to Equities” article of njrereport?
We must be getting close to bottom then.
_________________________________
I can only dream we are at the bottom. When the robots account for less than 40% of the total trades on the market will I then get back in.
Who actually uses these lists to determine where to live?
Anon E. Moose,
There’s a reason cable is $115. Every network is emulating the Steinbrenner plan. I hate the Dolan’s, but I do give them credit for trying to hold out against Steinbrenner’s demands, even if they had different motives to do so. Who still pays $115 for cable. I thought we went through this already.
Shore Guy,
Who knows what is next for me in regards to the current business climate. I just thank my parents frequently for teaching me to save so I can survive whatever our crooked leaders throw at me. Worst case scenario, I go back to mowing lawns once Jamil gets his way.
Wayne at #73
So my friend was right not to accept the offer from FEMA for his place in Hoffman Grove.
Big Link, slow download
http://www.abandonedbutnotforgotten.com/hoffman_grove_wayne_nj.htm
There was a house we looked at in Wayne in 2004 that was listed for $130k. We couldn’t figure out why, so we went and had a look. I think it was down off Meadow Rd. Is this the same place?
What we found was raised train tracks on two sides and water on the other. It came across as an enclave of Jackson Whites or retired carny folk.
Mortgage guys just had four appraisals come in short again, post-appeal. Idiot out-of-area appraisers- brought in by appraisal brokers and paid peanuts- blew up all of them.
I saw all four appraisals and helped on the appeals. All four appraisals were garbage, and all of them should’ve flown through underwriting. My only conclusion is that the banksters are now using the new HVCC statutes and lowball appraisals to squeeze mortgage brokers out of the business.
God help us all if, in three to four years, there are five megabanks doing every mortgage deal in the US.
Now that I think about it, I believe the chances of this happening are 100%.
RentinginNJ
Your post made me laugh! We used to know a firefighter in town who told similar stories. As you say, it’s one small part of town, though. Once you hit JFK things are really different.
grim says:
July 12, 2010 at 7:07 pm
Does the phrase “riding dirty” make any sense to you at all?
http://www.youtube.com/watch?v=E6Zc9NyYH-k
Schabadoo,
I rented a room in a house on Riveredge Drive in Lincoln Park for about a year after graduating college. Hoffman Grove was literally across the street. That place floods when there is a sun shower. Man there are some poor folk down that way.
Making those lists is meaningless. Local CofCs market themselves aggressively, and sometimes it appears to be a joke.
Manchester NH constantly wins best small city awards, but I used to live and work there, and I don’t see the attraction. One year, Haverhill, MA, an absolute dump of a town, made one of these lists. The mayor was interviewed and even he said “WTF?”
Nom
Haverhill??? HAHAHAHA Take a look the pollution left over from local industry and dont mind the lovely little flood zone that covers s fair portion of the town….
Final Doom says:
July 13, 2010 at 10:11 am
Things won’t change until the crooks start taking bullets in the head
You need to use Silver Tipped Wooden Stakes, brined in Garlic & Holy Water, to effect these Crooks.
In the August 2008 issue of Money magazine, Union was voted 75th best place to live in its list of America’s Best Small Cities.
Yeah right.
Ewellie
Nothing personal, but
Once you hit JFK things are really different
you seem to be advocating the brazil model of urban development. Then again when you really get down to it so does montclair.
BeachBum says:
July 13, 2010 at 6:53 am
Re : NJ teachers retiring: maybe they’re just tired of being public enemy #1 – ready to move to greener pastures and let all the irresponsible parents teach their own darn kids. The Christie witch hunt is absolutely ridiculous.
Commanderbob sez:
Irresponsible parents?? What about the burnt-out so-called government school “teachers” who should have retired, quit or been fired years ago ?
Surprised that teacher apoligists like you don’t talk about where they finally move to when they “retire”; like to the Carolinas, since they really can’t stay and live in NJ anymore because of the insanely high taxes and cost-of-living !
Public Enemy ? That creepy-looking hag president of the NJEA is the one who (quote:) “..declared WAR..” against the people’s newly-elected Governor Christie ! I see that lately she doesn’t say much in public anymore. Better off for all of us ; The witch and that Union has been put in their place.
Sounds like , ‘BUM’, that you have a typically ‘bitchin’ teacher in your immediate family
good luck to you listening to it’s rantings about “how hard they have it”.
B00 Hoo Hoo.
Have a GREAT summer !
Commanderbob
commander (1:57)-
A single piece of red-hot .223 between the eyes should shut her pie hole. Whoever told her to lay low gave her some good advice.
“That creepy-looking hag president of the NJEA is the one who (quote:) “..declared WAR..” against the people’s newly-elected Governor Christie ! I see that lately she doesn’t say much in public anymore. Better off for all of us ; The witch and that Union has been put in their place.”
All the best to you, Bob!!!!
OTOH, I have discovered Cake Boss.
So, I will be spending the rest of the summer on my couch, rotting my brain with television.
No, John, I do not want to know what your definition of “Cake Boss” is.
Gator and I met the Cake Boss. He is surprisingly blue collar and a very hard worker. With that said, I have watched Cake Boss twice.
Bob, your overtly masculine moniker makes me nervous.
Is blue collar the new black?
“Mr Hyde says:
July 13, 2010 at 1:48 pm
Nom
Haverhill??? HAHAHAHA . . .”
Yeah, that was my reaction as well. Then I went back to clean up the coffee spray.
“Is blue collar the new black?”
It’s just nice to run into a minor celebrity who earned his wings and hasn’t yet let it get to his head.
Franklin Township: totally safe except for the tiny area off of Hamilton Street as it leaves New Brumfus. But that is also where the HS is and it is a densely populated area. Franklin HS has had gang problem for 20 years or more, nothing new there. There a gang out of New Brunswick, on the boarder that names itself after one of the local mini marts (forget the name) and they spill over into that little area of Franklin. The business owners in the area would be held up weekly for “rent.” and most closed down in the 90s…then the Seiks (sp?) came in and took over the businesses, gas stations. They don’t fool around, they police their own situations and are still there. I never worry about pulling into a Seik run gas station and they are always very nice and helpful.
“they are”
I knew a few Indian families that bought in Franklin but are still trying to get out as their kids get older and are facing down that HS situation. They all want to move to South Brunswick but are still reeling from the same sticker shock that we all are.
Sikh. The guys with the beards, turbans, bracelets, and hidden knives.
Final Doom says:
July 13, 2010 at 2:06 pm
OTOH, I have discovered Cake Boss.
So, I will be spending the rest of the summer on my couch, rotting my brain with television.
Doom: don’t know whether you are kidding, but that place is startlingly mediocre and always has been; I’ve never seen the show, but note this gem…..
http://hoboken411.com/archives/46053
thanks meter, I pronounced right but spelled it wrong :<
chi (3:14)-
I figured the cakes must all taste like shit. The crap that goes into colorings, fancy decorations, etc. are pretty much 100% carcinogenic (don’t even get me started on commercial shortenings). I just enjoy the guy’s management style. He’s an amalgam of every pastry manager I’ve ever known.
Cake Boss is even more fun to watch when you have a big glass of whiskey to drink.
137
Federal deficit tops $1 trillion through June
Federal deficit through June tops $1 trillion with 3 months left in budget year
WASHINGTON (AP) — The federal deficit has topped $1 trillion with three months still to go in the budget year, showing the lasting impact of the recession on the government’s finances.
In its monthly budget report, the Treasury Department said Tuesday that through the first nine months of this budget year, the deficit totals $1 trillion. That’s down 7.6 percent from the $1.09 trillion deficit run up during the same period a year ago.
Worries about the size of the deficit have created political problems for the Obama administration. Congressional Republicans and moderate Democrats have blocked more spending on job creation and other efforts. Republicans also have held up legislation to extend unemployment benefits for the long-term jobless because of its effect on the deficit.
Another failed effort would have provided cash-starved states with money to help avoid layoff of public employees and finance the Medicaid program for the poor and disabled.
When deficit hits 500 Trillion, it may impact Wall Street.
Beach,
I was just looking at the photos of 313 Ocean. It is not built to live in. Take a look at photo 7 and note where the sink is. Who puts a sink under a low overhanging cabinet? Just try and work in tht space. Cleaning a pot too big for the dishwasher will send someone running to a bath tub or shower.
Then, in number 8, there is a huge commercial stove (or paperweight) that has no meaningful work surface next to or right behind. Everything is for how and not for use.
In 14, the media room cannot be closed off and the rest of the house is wide open. Thus, either the people in the rest of the house get annoyed at those watching a movie, or visa versa.
The winc celler looks very nice but is poorly designed. Either it is of no use for long-term storage of wine, too warm, or it is too cool to enjoy being down there enjoying it, which seems to be how it is designed.
The whole bath tub in the master suite gets old fast. There is a reason we tend to put these things in different rooms.
Even if one allows a couple hundred thousand for the lot and $200/ft. sq. for the living areas of the house, it is way over priced.
I will take Bay Head for $2,000,000, Alex.
Also, every “Zestimate” I have ever seen turned out to be well above what the house actuallly sold for. The Zestimate for this one is all of $1,767,000, just a bit more than half of what they are seeking.
I think the garlic fumes must have a Hallucinogenic efect.
A headline almost as good as Headless Body in Topless Bar:
Ohio crash leaves scared pet monkey atop pole
http://www.msnbc.msn.com/id/38221703/ns/us_news/?gt1=43001
In moderation for post about this headline:
Ohio crash leaves scared pet monkey atop pole
July 13, 2010 at 3:56 pm
A headline almost as good as Headless Body in T0pless Bar:
Ohio crash leaves scared pet monkey atop pole
http://www.msnbc.msn.com/id/38221703/ns/us_news/?gt1=43001
“Tax receipts are growing at a pretty good rate,” said Brian Bethune, chief financial economist at IHS Global Insight in Lexington, Massachusetts. “We’re getting a lot of traction in the non-financial sector. It’s pretty powerful.”
Year to date, the gap amounted to 9.2 percent of gross domestic product, down from 10.2 percent for the same period in 2009.
http://www.bloomberg.com/news/2010-07-13/u-s-budget-deficit-narrowed-to-68-4-billion-in-june-on-higher-tax-income.html
We should be more worried of the trade deficit coz this is what creates jobs:
A report from the Commerce Department today showed the U.S. trade gap unexpectedly widened in May to the highest level in 18 months as a gain in imports outpaced an increase in shipments abroad. The gap expanded 4.8 percent to $42.3 billion as U.S. companies imported more capital equipment, automobiles and consumer goods.
Don’t touch that midget; hand me the pliers.
Verona’s Tea Party?
Verona’s Town Council probably should have chosen a larger venue for Monday’s meeting. While attendees at previous council meetings on the budget generally had plenty of room to stretch out, last night, more than five dozen people packed the room and spilled out into the hallway and down the stairs into the lobby.
They weren’t there to applaud the designation of the old freight shed on Depot Street as Verona’s first landmarked property. They weren’t there to hear the annual report of the Verona Environmental Commission. No, they were there to vent about property taxes and the proposed 5.9% increase in Verona’s municipal budget.
Speaking in impassioned tones, some 20 people from the audience approached the microphone during the public comment section of the meeting to call for drastic changes to the town budget. Some, like Susan Montanile of Sunset Avenue, talked of property taxes that had shot up 50% on houses they couldn’t sell. They called for a flat budget or for a 10% cut in the town’s discretionary spending. They called for municipal salary cuts and an end to fireworks and summer entertainment. They wanted fees imposed on groups using town fields, and mocked the spending on Wi-Fi at the pool and flower baskets on the lampposts.
“I keep hearing how important the plants are,” said Julie Lachappelle of Sunset Avenue. “I wonder how important the residents are?”
http://myveronanj.com/2010/07/13/veronas-tea-party/
This should worry the Democrats for the mid-term election. On the other hand it isn’t news, but now a majority have that opinion.
http://www.foxbusiness.com/story/markets/industries/government/official-obama-socialist/?test=latestnews
http://myveronanj.com/2010/07/13/veronas-tea-party/
What are you talking about Willis
shore: that headline is sacred ground…..
Shore Guy says:
July 13, 2010 at 3:59 pm
July 13, 2010 at 3:56 pm
A headline almost as good as Headless Body in T0pless Bar:
I hold a special place for Sachs of S%!* though…..
Jim,
from your posted article:
“And the affluence of America’s middle class has nothing to do with socialism or redistribution of wealth – it has to do with the creation of wealth.”
Jim,
the entire article loses all credibility after this line.
Veron*’s Te* P*rty?
Verona’s Town Council probably should have chosen a larger venue for Monday’s meeting. While attendees at previous council meetings on the budget generally had plenty of room to stretch out, last night, more than five dozen people packed the room and spilled out into the hallway and down the stairs into the lobby.
They weren’t there to applaud the designation of the old freight shed on Depot Street as Verona’s first landmarked property. They weren’t there to hear the annual report of the Verona Environmental Commission. No, they were there to vent about property taxes and the proposed 5.9% increase in Verona’s municipal budget.
Speaking in impassioned tones, some 20 people from the audience approached the microphone during the public comment section of the meeting to call for drastic changes to the town budget. Some, like Susan Montanile of Sunset Avenue, talked of property taxes that had shot up 50% on houses they couldn’t sell. They called for a flat budget or for a 10% cut in the town’s discretionary spending. They called for municipal salary cuts and an end to fireworks and summer entertainment. They wanted fees imposed on groups using town fields, and mocked the spending on Wi-Fi at the pool and flower baskets on the lampposts.
“I keep hearing how important the plants are,” said Julie Lachappelle of Sunset Avenue. “I wonder how important the residents are?”
http://myveron*nj.com/2010/07/13/veron*s-te*-p*rty/
Please replace the *s in the link above. Don’t know what Grim has against Veron* or Te*.
Shore – looked at the pics again and have to agree – the place is for show, not to spend any time in it – badly conceived, probably ill-executed. Kind of like Commandor Bob…
Lib [12:52];
My observation is that when they want the largest number of eyeballs, they still put it over the air.
Who pays $115 for cable? The same sheep who still pay $679k for a fixer on a varitable drag strip through Montklair. PT Barnum said there’s one born every minute. To the masses present company are the bleeding edge of technology utilization.
And YES can ask for $2 or $10 or $200; I don’t care cause I ain’t paying it. They want up to $2,500 a seat and $9.75 for a plastic bottle of Bud Light? I’ll have my kids watch soccer, thanks.
” They want up to $2,500 a seat”
For $2,500, does it come with a call girl?
Jim @ 4:27 re: worried Dems
White House press secretary Robert Gibbs said the other day there was “no doubt” that Republicans are a threat to win back the House.
Republicans need to win 39 only Democratic-held seats to secure a majority in Congress next year. I would say it is in the bag unless the Dems can somehow create a few million jobs by election day then cut spending and extend unemployment again as well as perhaps appoint someone not so far left to the Supreme Court. Heck I like my veggies but I don’t want to be force fed them by an ugly broad either. (kagan joke).
I need a little help with a question, I changed my name for identity purposes only. A friend of my wife…who was a school teacher( just retired@ 56 with $50,000 plus pension). The teacher and her husband also just inherited 7 MILLION dollars, and ironically their Dad( Jewish people know how to beat the state) claimed Florida residence( Florida does not tax estates) to save his estate for kids ( he bought a small condo but hadn’t gone down there in 15 years). NJ gained no inheritence tax because he claimed Florida as his home( absolute fraud but good lawyers are worth their pay).
Well the husband & the retired teacher just bought a house in Carolina, then changed that to their residence so he would not have to pay anymore income tax in NJ, they plan on staying in NJ for another 3 years or so, then sell their Morris County home .
My question is this, after he sells their NJ home will he be taxed on it or is it another freebee because it was their main house. Just curious, but would like some input. Thanks.
Grim, sorry I did not put in correct name, but the husband is on computer all day he has not worked in 20 years, , and I don’t want him to know who wrote this.
Beach,
I hate when builders make decisions affecting aspects of houses that they have no clue about. Anyone who cooks knows that the sink is a BIG deal and if one entertains who wants to have their back to their guests? The sink in the back corner is a big problem for anyone who wants to live in the house.
It reminds me of builders who stick the dining room light smack dab in the middle of the room withour regard to the furniture that will go into the room, thus one needs to move the light to have it over the table insted of over a chair.
Free TV? Commercial free? Its like jumbo shrimp. Production is spendy, eventually if you want it, you will have to pay for it. Enjoy the ride while it lasts, because it won’t.
Shoreguy,
I’m kind of tired of the “entertainment kitchen.” Who the hell really entertains that much? Lord knows I would tire of having to visit that jackass often and listen to their B.S. while watching them shuck oysters and sip wine.
Give me a long galley style kitchen with great appliances, a 10″ deep SS farm sink, very few uppers and a lot of windows over the countertops. I could give an S who can watch me cook and who can’t.
Don’t know about you but I’m sensing a big disconnect between WS rally and the doomsters on this board.
Sort of like Pamela Anderson vs. Madeline Albright.
Back to real estate: Notice of Defaults (NOD) increasing in Asbury Park in the last few months. Here’s some comparisons:
Month/Yr/NOD
July 2010–6 as of today
June 2010–24
May 2010–22
April 2010–13
Mar. 2010–11
Feb. 2010–5
Jan. 2010–14
Dec. 2009–17
Nov. 2009–21
Oct. 2009–15
Sept. 2009–10
Aug. 2009–25
July 2009–15
June 2009–24
May 2009–13
April 2009–7
March 2009–6
Feb. 2009–9
Jan. 2009–14
Shore –
I agree. I love to cook. I once designed my own kitchen when I was contracting to have a house built. When I see a kitchen like that I know that the designer hasn’t a clue about how a kitchen gets used.
One should know the limit of one’s competence and defer to experts (such as Doom, Hyde or Nom) as one approaches that limit.
Soon we’ll all be cooking over trash barrel fires. It’ll be a luxury not to have to guard the perimeter while everyone else wolfs down their one meal of the day.
orion (5:27)-
What else can you say about a rally that gets triggered by A “beating” an estimate that was knocked down multiple times? Or, the fact that this “rally” is based on nothing more than computers trading with each other in thin volumes?
When the bottom falls out, it will begin with a flash crash and continue to plummet.
Barbara –
It’s not such a big thing since I am married now (somebody to help out with kitchen / host duties), but back in my single days I often had small groups over for dinner. I arranged my kitchen so that I could continue to be part of the group even while putting the finishing touches on a dish or tidying up afterward. Even at that it was NOT a show kitchen. When it comes to a kitchen function comes first.
Speaking of trash barrel fires, where does one get a good trash barrel these days?
We burned all of our trash that would burn when I was growing up in Alabama – in a trash barrel.
Doom (5:31)
So, whose bottom falls out first, Pam or Madeline? :)
I know what you mean about A “beating”, it’s ALL a farce.
I’ve become so cynical in the last year and I don’t like it.
I was busy today, but all this talk about cakes, kinky stuff and indians reminds me of me.
Are the Indians moving out of Franklin in an attempt to make the HS better or worse.
Barbara says:
July 13, 2010 at 3:11 pm
I knew a few Indian families that bought in Franklin but are still trying to get out as their kids get older and are facing down that HS situation. They all want to move to South Brunswick but are still reeling from the same sticker shock that we all are.
18 days baby till I get my AMBAC 8-1-2010 interest payment and free beer.
By the way I am like a serial bottom feeder loaded up on BP bonds last week when at a party some guy said he refuses to buy BP gas, when public is angry they get irrational and sell, and I buy and buy.
Next I am thinking Regions Financial some people seem to be buying up their stock so me thinks their bonds will pop.
chicagofinance says:
July 13, 2010 at 4:34 pm
I hold a special place for Sachs of S%!* though…..
15 States Where Home Prices Actually Fell In May
http://www.businessinsider.com/the-15-worst-states-for-housing-right-now-2010-7#utah-prices-down-14-1
Yahoo!! NJ is not on the list. Property tax went up..that is another story
“Essex says:
July 13, 2010 at 2:25 pm
Bob, your overtly masculine moniker makes me nervous.”
Bob, I’m no pansy. Your moniker is just fine.
Barbara- Actually Franklin Twp. has a newer high school which is located down a very nice road. The high school is surprisingly nice looking.I think the school you were talking about nearer New Brunswick used to be a high school and may now be their middle school.
House Whine,
yeah its right off off Hamilton, take a right at the Bank and stop light. Its the middle school now? Wow, now they have less time and are even more screwed.
Barbara says:
July 13, 2010 at 5:17 pm
Shoreguy,
I’m kind of tired of the “entertainment kitchen.” Who the hell really entertains that much? . . .”
Actually, my sister and BIL have just such a kitchen (palatial when they built it 12 years ago, but probably considered “cute” now) and they entertain a lot. Given the galley that they had before, they clearly needed the space and it is well-used.
And when you consider that my BIL can give Captain Cheapo a run for his money, that is saying something (the butcher block counter top on the massive center island was taken from his late parent’s home).
New in NJ says:
July 13, 2010 at 5:27 pm
” . . . One should know the limit of one’s competence and defer to experts (such as Doom, Hyde or Nom) as one approaches that limit.”
Huh? What am I an expert in that pertains to cooking? (yeah, I like it, and am pretty good at it, but kitchen design????????)
Nom –
I was speaking of limits of competence in general. I can handle the kitchen without your help, but if it comes to tax law issue I’m smart enough not to try to go it alone.
“I’m kind of tired of the “entertainment kitchen.” Who the hell really entertains that much? . . .””
I have no problem with “show kitchens,” just badly-designed ones. Even if one does not entertain often, if one hosts a holiday every year, not being stuck away from guests is a real plus, unless, of course, one does not like the guests.
“but kitchen design????????”
Nom,
I cook all the time and one thing I have learned is that a cook can spot what is “wrong” about a kitchen. I for one do not want people “in my space” when cooking, but do want people to be able to have access to non-mission-critical parts of the kitchen whilst I am at the stove or ovens. Too many “designer kitchens” have more crossing traffic patterns than Long Island.
speaking of which, a couple pounds of salmon is calling my name.
Nom: answer this…..
Q: it is a form over substance argument; as long as they follow the rules and jump through the correct hoops, it can be done. However, they MUST work with knowledgeable professionals that will stand behind this agressive position and face down Tenton when they come knocking. Trenton needs the money, so they need to be vigilent in how they comply as well as professional counsel….to be clear….it is not that big a deal, but “past performance is no indication of future results”…..who knows what kind of digital tracking can be done when fraud is alleged; GPS, cell phone records, EZPASS all to prove how much time you spent where…..I am probably talking 10-20 years in the future, so I am sure thay are fine…..
Question says:
July 13, 2010 at 5:06 pm
I need a little help with a question, I changed my name for identity purposes only. A friend of my wife…who was a school teacher( just retired@ 56 with $50,000 plus pension). The teacher and her husband also just inherited 7 MILLION dollars, and ironically their Dad( Jewish people know how to beat the state) claimed Florida residence( Florida does not tax estates) to save his estate for kids ( he bought a small condo but hadn’t gone down there in 15 years). NJ gained no inheritence tax because he claimed Florida as his home( absolute fraud but good lawyers are worth their pay).
Well the husband & the retired teacher just bought a house in Carolina, then changed that to their residence so he would not have to pay anymore income tax in NJ, they plan on staying in NJ for another 3 years or so, then sell their Morris County home .
My question is this, after he sells their NJ home will he be taxed on it or is it another freebee because it was their main house. Just curious, but would like some input. Thanks.
Grim, sorry I did not put in correct name, but the husband is on computer all day he has not worked in 20 years, , and I don’t want him to know who wrote this.
To be clear, you cannot have your cake and eat it too…..Cannot claim NC residence and then get primary residence tax deduction for NJ…..I think you get to take value from point NJ stops being home……tax advisor will know…..
chicagofinance says:
July 13, 2010 at 6:36 pm
My question is this, after he sells their NJ home will he be taxed on it or is it another freebee because it was their main house. Just curious, but would like some input. Thanks.
Okay, so no one is confused, I claim no special expertise in culinary arts. Decent cook but that’s about it.
As for the NJ residence, that is property of the estate unless it passed by title (e.g., JTWROS). It is not excluded from NJ’s jurisdiction, and is subject to ancillary administration in NJ if part of the estate. As for exclusion under Code Section 121, it is not a primary residence, so no exclusion on that basis.
The foregoing is not intended as legal or tax advice and should not be relied upon. This post is not intended to create an attorney-client relationship.
Publication 523
http://www.irs.gov/publications/p523/ar02.html#en_US_publink1000200709
You can exclude up to $250,000 of the gain on the sale of your main home if all of the following are true.
You meet the ownership test.
You meet the use test.
During the 2-year period ending on the date of the sale, you did not exclude gain from the sale of another home.
Ownership and Use Tests
To claim the exclusion, you must meet the ownership and use tests. This means that during the 5-year period ending on the date of the sale, you must have:
Owned the home for at least 2 years (the ownership test), and
Lived in the home as your main home for at least 2 years (the use test).
Period of Ownership and Use
The required 2 years of ownership and use during the 5-year period ending on the date of the sale do not have to be continuous nor do they have to occur at the same time.
You meet the tests if you can show that you owned and lived in the property as your main home for either 24 full months or 730 days (365 × 2) during the 5-year period ending on the date of sale.
Is this expiring soon or not to be extended?
I do not intend to start a partisan argument for it is a waste of time. But I wouldn’t count the Dems complete out at the mid-term elections nor Obama out in 2012 regardless of our cr*ppy economy. I think the legacy of ‘W’ may be so great that it will take more than four years (or two) to reverse the alleged perception of the damage accomplished. If you all recall, Jamil and the Rasmussen Poll were little competition for the Socialist who beat the Republicans in an absolute bloodbath just a short while ago. The perception of the ‘W’ tenure is what caused this effect. Not what Obama offered in his campaign of what ended up amounting to promising lies.
re: Cakeboss. Respected him until I found Chumlee.
The Old Man: “Shuddup, Chumlee.”
We need Cakeboss to have a special combined Pawn Stars Cakeboss episode.
“combined Pawn Stars Cakeboss episode.”
Just imagine the ratings
Considered driving to that place when I was out in Vegas.
Mr Hyde–
The only thing I’m advocating is living in an area with access to culture. IMO, Manhattan is the best place to live in the U.S. Is there crime? Yes. Is there so much more than you get anywhere else? Absolutely. The last thing I’d want is to be stuck in a small town with narrow minded people–a little crime or a few gangs is the price you pay for LIVING. Friends of ours recently moved to Charlotte. They’re in a “development” in the middle of nowhere. Even when you go to Charlotte proper, there’s little there for a person who is used to real cities. Psychologically, the place would kill me in three months. My point is, we have little to really complain about in this area, and if someone doesn’t like or appreciate the advantages of living here, well they don’t have to live here. (Incidentally, when we were at our friends McMansion development last year, a restaurant worker was shot and killed in a robbery attempt. It was the only restaurant within a radius of a few miles. Better to spread the risk!)
Oops– I forgot to add, when I say “a little crime,” that’s exactly what I mean. Franklin has a pretty low crime rate. In fact, it’s quite a bit lower than many of the other places on that top 100 list.
possibly didn proxy solutions
Terrific work! This is the type of information that should be shared around the web. Shame on the search engines for not positioning this post higher!