From NJBIZ:
Labor reports jobless rate hits lowest level in four years
New Jersey’s unemployment rate dropped to its lowest level in four years in April, falling by 0.3 percentage points to 8.7 percent, according to new figures from the New Jersey Department of Labor and Workforce Development.
The new rate continues a sharp drop since January, when the unemployment rate was 9.5 percent. The report also showed the state added a net sum of 3,300 jobs in April, with 4,100 new private-sector jobs more than offsetting a loss of 800 public-sector jobs.
Joel Naroff, president at Naroff Economic Advisors, said the number probably represents a more accurate picture of the labor market than the much-higher numbers of the winter.
“On the unemployment rate, it’s probably as much a statistical issue as it is anything else,” he said.
Naroff said the 9.5 percent and 9.6 percent unemployment rates of the winter months coincided with very high estimates of the growth of New Jersey’s labor pool. That matters because the rate is based on an estimate of the number of people working and those actively looking for a job. During the highest-rate months, New Jersey’s labor pool was said to be growing by 1.5 percent, more than three times faster than the national labor pool’s estimated growth, Naroff said. Such a high rate of growth never made sense, he said.
“It’s not that the state is doing well, but it’s not doing that badly,” he said. “And I think the indication of that is the payroll numbers, where we have a fairly decent growth in the number of nonfarm jobs over the year.”
…
“The marked decline in unemployment over the last year mainly reflects the ongoing gains in jobs we are experiencing,” he said, noting that the state added nearly 60,000 jobs from April 2012 to April 2013.
…
Naroff said the numbers are likely to have a significant political impact, but he’s more concerned with the reality for job seekers; a reality he said is still far from ideal.“I think people are going to look at 8.7 and say ‘Oh, gee, that doesn’t help us a whole lot,’ ” he said. “It’s better than it had been. But it’s not good. The unemployment rate is simply too high.”
8.7% vs 9 something. What’s the difference? They are both mediocre. I’m just wondering how they somehow tried to convince us that the recession was over in 2009.
From the Record:
Christie announces $300M program to buy flood-prone homes
Governor Christie Thursday unveiled a program that would allow the state to purchase 300 flood-prone homes along the Passaic River and another 1,000 damaged by Superstorm Sandy.
The state will use $300 million in federal funds for the program, which gives homeowners the option to sell.
“The process is a way to help people and property get out of harm’s way, but as I have always said, we will not force any of these residents to sell their homes or force towns to participate in buyouts,” Christie said in a statement.
Christie is holding a town hall-style event in Sayreville this afternoon where he will formally announce the program. The state will start by targeting about 350 homes in Sayreville and South River in Middlesex County, which were flooded by the Raritan and South rivers, and Delaware Bay homes in Lawrence Township in Cumberland County.
I’m just wondering how they somehow tried to convince us that the recession was over in 2009.
75,000 more people in NJ are employed today, than were employed in 2009.
To put things into perspective, there are more people employed in NJ right now, today, than the entirety of the 1990s and the 2000s until 2005.
The only years in history that were better than the current levels were 2006, 2007, and 2008.
grim: it may not be apparent to you, but it is to me; those great corporate jobs with myriad benefits that fill your pockets so much that they spill all over the floor are fewer and farther between…..they still exist, but it is much less prevalent to see the $150K middle manager in their late 40’s with a bulging 401(k) than in years past…….a job is a job so the rate goes down, but the quality of the overall all-in compensation has degraded……
grim (3)-
You want fries with that?
“To put things into perspective, there are more people employed in NJ right now, today, than the entirety of the 1990s and the 2000s until 2005.”
Amazing time to be alive and working in New Jersey.
You guys hear about the new name for the roller coaster in seaside? Some people are saying it is offensive but I think it’s outstanding!
Roller coaster on Jersey Shore to be called ‘Super Storm’
http://www.foxnews.com/travel/2013/05/16/roller-coaster-on-jersey-shore-to-be-called-super-storm/
Less offensive than naming it the Snooki.
Happy days are here again at 9% unemployment, and bidding wars are back…..
mls # 2994809, list price $1,295,000, sale price $1,380,000, 8 days on market
mls # 2997251, list price $895,000, sale price $967,500, 25 days on market
mls # 3002222, list price $999,000, sale price $1,261,500, 13 days on market
mls # 2992824, list price $999,000, sale price $1,200,000, 10 days on market
mls # 3003978, list price $785,000, sale price $810,000, 8 days on market
mls # 3014847, list price $1,295,000, sale price $1,475,000, 9 days on market
Glory hole would have been better.
Nice double murder in a Montklair park overnight.
RE 3: Have that many fast food places opened in NJ? Would like to see how the new jobs compare to the ones that left.
hey all – supposed to close on a home in Bergen county next week! I’m wondering if anyone could help me figure out how best to configure this space? We can take both load bearing walls out and put beam in to open everything up or we can make 1/2 walls with columns? I am somewhat stuck on the best layout.
Video of the current layout:
http://youtu.be/rE-h-vGQ4og
My thoughts…Replace the shorter wall in the kitchen with an island but then do you have the dining room right there or do you swap it with the living room? The sunroom right now is wasted space so we don’t know what to do with that either. We want to take the windows currently in the sun room and put sliders or french doors to the deck. The door in sunroom is going to be taken out when we do the siding on the house.
12 – Of the 69,100 jobs added in the last 12 months, 6,200 were in Leisure and Hospitality, the subgroup that contains foodservice in addition to arts, entertainment, recreation, and accommodation jobs.
NJDOL has Food Services jobs up 7,195 between 2006 and 2011:
http://lwd.state.nj.us/labor/lpa/pub/empecon/lhr.pdf
is there any scientific evidence?
Ottoman says:
May 16, 2013 at 1:55 pm
“Men with right-wing political beliefs tend to be strong. Meanwhile, men with left-leaning political views tend to be weaker.”
–That’s because right wingers are so paranoid they need to act and look tough to hide the crippling fear that runs their lives. And in many cases, to hide their latent homosexuality.”
14 – Grim, how many of the new jobs are contractors/homebuilders working on repairing damaged Sandy homes?
Construction job growth in the last 12 months was a very underwhelming 3,200. Odd, I know. Construction job graphs show what is barely a blip as a result of Sandy.
that chick (joyce?) who disagreed with Bernie yesterday, what do u say about this one:
@SenSanders: The New Normal: Real Unemployment at Almost 14% #economy
So, is there an industry that was a big winner in the report? Government employees perhaps? Healthcare? Where’s the job growth coming from?
Compared to population growth, I see this as anemic at best.
Geographic Area April 1, 20001 Intercensal Estimates (as of July 1) April 1, 20102 July 1, 20103
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
New Jersey 8,414,764 8,430,621 8,492,671 8,552,643 8,601,402 8,634,561 8,651,974 8,661,679 8,677,885 8,711,090 8,755,602 8,791,894 8,801,624
Annual increase 62,050 59,972 48,759 33,159 17,413 9,705 16,206 33,205 44,512 46,022
http://lwd.dol.state.nj.us/labor/forms_pdfs/lwdhome/press/2013/20130516UITables.pdf
Whats the bottom line on Unemployment ? Happy days are here ? Housing takes off
in NJ
The point I’m trying to make isn’t that happy days are here, the point is that we are *recovering* from recession. I agree, we’d all like the pace to be quicker, but the fact is the direction on jobs is now upwards and unemployment down. I fully expect to see year over year household wage growth in 2013 as well. The economy has gotten better, the jobs situation has gotten better, the real estate outlook has gotten better. Yeah yeah, Pooh pooh, I know, the-end-is-neigh, depression has only been temporarily postponed until tomorrow.
20. Bootstrap Sales.
#24..trust me the end was “neigh-er” in 1968-69, then again the 70’s had some issues, oh that recession in the 80’s (double dip) and that 9/11 issue was not a party either…(I heard the black plaque was no picnic, either) certainly it will all end at some point….in the meantime we continue to exist and somehow, as I tell my kids, we here have it better than 90% of the rest of the human population, so it ain’t so bad …..
#26, plaque=plague, unles there was also a severe dental crisis I missed….
Most folks I know in their late 40s if unemployed would not accept a job with a total comp of 150K. Flip a house or two, become a landlord, day trade, maybe contracting, insurance adjuster, sell cars etc. You can make 150K part time, Japanese housewifes make 150K daytrading in their kimonos before they head off to watch bad game shows and soap operas for rest of day. I think even trader joe folk make 150K.
chicagofinance says:
May 16, 2013 at 6:38 pm
grim: it may not be apparent to you, but it is to me; those great corporate jobs with myriad benefits that fill your pockets so much that they spill all over the floor are fewer and farther between…..they still exist, but it is much less prevalent to see the $150K middle manager in their late 40′s with a bulging 401(k) than in years past…….a job is a job so the rate goes down, but the quality of the overall all-in compensation has degraded……
I didn’t realise NJ population was growing that quickly. Where are they all going?
For NNJ on wikipedia I see Bergen and Union have grown a bit but mostly back to where they were in the 70s. Essex and Hudson still have fewer people than the 30s. Looks like counties further from nyc have grown.
http://www.njfuture.org/2012/06/12/population-growth-patterns/
According to 2011 county population estimates released by the Census Bureau, the fastest-growing New Jersey counties between 2008 and 2011, in the wake of the Great Recession, were Hudson (+8.3 percent), Middlesex (+3.7), Union (+3.4), Passaic (+2.8), Bergen (+2.4) and Essex (+2.4).
Surprisingly, this list coincides almost exactly with the list of the most developed counties in the state (Hudson, Union, Essex, Bergen and Middlesex are the five most developed counties, while Passaic ranks 11th). In a dramatic reversal of New Jersey’s development pattern of the last 50+ years, the last three years have seen the state’s most urbanized counties growing the fastest.
In the top three fastest-growing counties from 2000 to 2008 – Gloucester, Ocean and Somerset – average annual population increases dropped dramatically after 2008. Among the 10 fastest pre-recession gainers, only Middlesex – the most urbanized of the 10 – gained more residents on an annual basis between 2008 and 2011 than it had between 2000 and 2008.
30 – Where are they coming from? Are people moving from exurbs to counties you mentioned? Are they immigrants? Maybe people from out of state are moving to those regions?
I provided a comment from and link to a Psychology Today article regarding the scientific findings on political leanings and brain structure. I suggest you mosey back to the place from where you copied my words and continue reading. Alternatively, you are welcomed to utilize the search engine of your choosing to research the matter on your own. Even Fox News reported on it although I seem to recall they downplayed the fear aspect and called the conservative brain primitive or primal instead.
16. anon (the good one) says:
May 17, 2013 at 8:06 am
is there any scientific evidence?
“In the top three fastest-growing counties from 2000 to 2008 – Gloucester, Ocean and Somerset – average annual population increases dropped dramatically after 2008.”
Bernardsville has a Latin American grocery store downtown. I wonder how many of their regular customers get counted in population statistics.
the real estate outlook has gotten better…
In New Jersey, the monthly property tax payment is on par with the monthly mortgage payment. This “minor” detail seems to conveniently be removed from the equation, time and time again.
#34, you have millions of folks owning homes in NYC where, although their property tax is about half of the NJ average, they pay 3% NYC income tax. On a $150,000 income that is another $4,500 on top of their $4,000 property tax, so they are at $8,500. (assuming state tax is a wash) Plus, when many of these folks come over they move their kids from catholic school over to the public school and save $3,000-$6,000 per kid…so for many of them the property tax is not a mitigating factor.
In fact, when I moved some 28 years ago, I had little understanding of the NJ property tax and assumed, quite incorrectly, that it was “stable”.
When I used to look at paychecks of traders back in the day. I saw tons of them with rent controlled NYC apartments and houses with mortgages in the Hamptons where till this day the property tax is crazy low. I seen million dollar homes to this day pay $2,400 a year in taxes. They would put the Hamptons as their primary address to avoid NYC resident tax.
If I had thought ahead I would have kept my tiny rent stablized apt in NYC moved further out to a bigger house with lower taxes and had my pied a tier to stay in. I could have easily found another guy who needed a place to stay a few nights a week and he would have happily paid 100% of rent.
To this day their are a HUGE amount of rent stablized/Controlled places in the city. After 9/11 I even know some folks who cut deals while towers were still burning and the period of Ocober 2011 to October 2012 downtown. I also have a friend who got into a lux condo at expensive rent at time March 2009 where owner had to cut rent 1,000 a month to rent it. She locked in rent stablized prices. That owner wont get it to market rent till she dies.
1987 Condo Buyer says:
May 17, 2013 at 9:38 am
#34, you have millions of folks owning homes in NYC where, although their property tax is about half of the NJ average, they pay 3% NYC income tax. On a $150,000 income that is another $4,500 on top of their $4,000 property tax, so they are at $8,500. (assuming state tax is a wash) Plus, when many of these folks come over they move their kids from catholic school over to the public school and save $3,000-$6,000 per kid…so for many of them the property tax is not a mitigating factor.
In fact, when I moved some 28 years ago, I had little understanding of the NJ property tax and assumed, quite incorrectly, that it was “stable”.
1987 Condo Buyer [35],
My cousin is paying $17,800 per year in property taxes in Clifton and can’t send his kids to the high school because of the s.exual assaults and weapons possessions that appear to be part of the curriculum. Multiply that by a few hundred school districts and it’s hard to justify why property taxes are the highest on the planet. Of course, it must be for the children.
IRS tax exemption/Obamacare exec Sarah Hall Ingram, got $100,390 in bonuses had to be approved by the POTUS too any bonus above 25k anyway.
re #37 – Eddie it’s prestigious, that is why I am moving to Monmouth County next week, taxes are lower and the schools don’t have gang bangers.
#37..Ok, I did originally buy in Belleville and learned my lesson. Bought in Cedar Grove in 1993, taxes were $3,300. Now, 20 years later, I have added 2 additions, doubling size of house from 1,000 to 2,000 sq. feet, my taxes are $8,200. My neighbors who did nothing are at $6,200..so less than doubling of taxes in 20 years…not great but workable.
[32] ottoman,
My only fear is that folks on your side of the aisle will breed. Otherwise, nope, not fearing much of anything, and why should I? I must not believe in global warming or GMO effects cuz I’m a conservative, so no worry there; federal debt isnt an issue cuz Schumer and Obama said so; and I’ve got enough ammo to keep the illegal alien zombie hoards away. Besides, the nice ones cut my grass.
Life’s good, I think I’ll have another beer.
So big boy JJ works in HR? What a hero…
36.JJ says:
May 17, 2013 at 9:51 am
When I used to look at paychecks of traders back in the day.
[19] anon
Can we expect Carney to take Sanders to the woodshed now? That isn’t exactly party line.
You know Ottoman, I bet “anon” agrees with you on almost every ‘issue’ so maybe you should stop being mad at the entire world in your posts.
32.Ottoman says:
May 17, 2013 at 9:30 am
I provided a comment from and link to a Psychology Today article regarding the scientific findings on political leanings and brain structure. I suggest you mosey back to the place from where you copied my words and continue reading. Alternatively, you are welcomed to utilize the search engine of your choosing to research the matter on your own. Even Fox News reported on it although I seem to recall they downplayed the fear aspect and called the conservative brain primitive or primal instead.
16. anon (the good one) says:
May 17, 2013 at 8:06 am
is there any scientific evidence?
[42]. Joyce,
I need a spreadsheet just to keep up with the permutations in JJs life story.
[44] Joyce,
I caught that too. But ottoman wasn’t being partisan so I took it as simply annoyed.
And I’m an expert on annoyed.
I presented another opinion (which I happen to agree with) that included mathetical calculations. I don’t think Bernie included anything like that in his tweet.
What is Bernie trying to quote now, U6?
Something else regarding Senator Sanders. Whenever Ron Paul was on tv, he was always introduced as a libertarian, or republican with libertarian bent… why isn’t Sanders introduced as a socialist, or democrat-socialist (which he openly admits to being)?
I’ll never forget his questioning of Bernanke regarding the FED’s ’emergency’ 7+ trillion dollar 0% lending to banks (including foreign one’s). Sanders didn’t want that fraud to stop; he just wanted his “constituents to have access to those terms.
19.anon (the good one) says:
May 17, 2013 at 8:15 am
that chick (joyce?) who disagreed with Bernie yesterday, what do u say about this one:
@SenSanders: The New Normal: Real Unemployment at Almost 14% #economy
[41] redux
BTW, kidding about the aliens cutting my grass. Local good old boys with a family business do that.
“My only fear is that folks on your side of the aisle will breed.”
Writes the bright light who claims the banks are being manipulated by the government.
joyce says:
May 17, 2013 at 10:08 am
You know Ottoman, I bet “anon” agrees with you on almost every ‘issue’ so maybe you should stop being mad at the entire world in your posts.
Joyce, there are so many teabillies posting in this blog, I don’t bother keeping track. Now which are you again, the one who blames cops for the downfall of America?
I had unrestricted authority in that job to view anything. I pulled paychecks, read employee emails, etc. Paychecks are the scariest thing. You see someone who seem nice but OMG when you pull the ADP witholdings you see court mandated back child support, alimony, lawsuits, married guys who knocked other women up. The one that scared me back in day was in AP for the crisis counseling hotline. OMG I saw bills for folks calling up for drug addition etc. Also medical bills are scary, perfectly healthy people with Hep C, HIV etc. Email sniffers key word search WOW. what people do. We even did a desk search on Sunday once to catch some shady people. OMG, I saw a guy with a jar of vaseline with some pubes in it, and a note in girls desk for desks over she did not get to slip him yet to meet at his place on Monday, he was married. He was apparantly doing her in the butt.
I swore off ever looking at that stuff a decade ago even if I had the authority. I cant work with them again.
My favorite key word is “sick” and “late” I love how many folks email their gf or bf I am thinking of calling in sick the day before, or they go out drinking and say they will give some excuse to boss and come in late. Funny the boss had an email sniffer and was reading their email. I got to sniff his sniffer and noticed his key work search included his name and resume. He wanted to know if they were talking about him or job hunting.
Thank god more privacy controls are in place. I found most of that stuff a little wild
joyce says:
May 17, 2013 at 10:06 am
So big boy JJ works in HR? What a hero…
36.JJ says:
May 17, 2013 at 9:51 am
When I used to look at paychecks of traders back in the day.
(45) I bet Forrest Gump would be jealous.
(51) No one has absolute authority to view all HR information. This must have happened in the 80’s before Enterprise level software came around. Especially a trader. That would be considered Sales staff. Absolute no-no
I needed to see them to calculate everyone got paid the right commission. Traders back in the last 1990s were such a hot commodity everyone cut their own deal. Heck back in internet bubble days pre-sox I recall one guy negotiated unlimited TE with no approval. All different cuts, some traders even got cuts of other traders commisions for recruiting them, some got cuts of black box softerware. Then stuff like “soft” money what a mess. only way was to get contracts and go to the paychecks make sure it was all kosher. Those folks making 5-100 million a year paychecks make me want to puck when you saw than t&E a starbucks coffee
xolepa says:
May 17, 2013 at 10:30 am
(51) No one has absolute authority to view all HR information. This must have happened in the 80′s before Enterprise level software came around. Especially a trader. That would be considered Sales staff. Absolute no-no
[49] ottoman,
Being presumes success. Government and others try but do not always succeed. And to be fair, banks try to manipulate government. I believe you are in the camp of those who believe banks have succeeded, n’est pas?
[52] xol,
Indeed, he covets my box of chocolates.
On the jobs front in N.J. I get the sense that people are, for the most part, feeling more secure in them. In my bubble world, those close to me are busy, busy bees at work. More work coming in the door all the time. And the compensation is still there. O.K., maybe the benefits have been trimmed a bit, but they aren’t gone. I am talking about diverse fields of work, although I acknowledge they are jobs for college degreed and higher. OTOH, those I know in the 20’s, while having good jobs, seem to have zero interest in buying a home. They are really fine with renting. They like the flexibility, they like the free time it gives them, and they don’t care for the moment about “investing in a home”.
Ottoman – Commonly shared beliefs of us libertarian/conservative folks on this blog and maybe to liberals
government in its current form is force that takes from the productive to placate the unproductive
government and its agents are not working in your best interests in fact they are working against them. Yes this includes cops.
I won’t go any further but keep this statement in mind while you bend over to lick the boots of your liberal masters
Liberalism is like intellectual junk food, where ideas are measured by the weight of their intentions rather than the quality of their outcomes
Funny I feel less secure. Late 2008 till early 2011 was a fantastic time for money making. Now it is much harder. All that is left now is a paycheck.
HouseWhineWine says:
May 17, 2013 at 10:38 am
On the jobs front in N.J. I get the sense that people are, for the most part, feeling more secure in them. In my bubble world, those close to me are busy, busy bees at work. More work coming in the door all the time. And the compensation is still there. O.K., maybe the benefits have been trimmed a bit, but they aren’t gone. I am talking about diverse fields of work, although I acknowledge they are jobs for college degreed and higher. OTOH, those I know in the 20′s, while having good jobs, seem to have zero interest in buying a home. They are really fine with renting. They like the flexibility, they like the free time it gives them, and they don’t care for the moment about “investing in a home”.
You do need to improve your memory. I would be hard pressed to call any more than 1-2 people on here similar to Tea Party people. We do have some libertarian-minded, some ‘conservative’, some Republican, and on and on.
Pain said it best just above, the government is not working for the people and that includes the law enforcement.
.Ottoman says:
May 17, 2013 at 10:18 am
joyce says:
May 17, 2013 at 10:08 am
You know Ottoman, I bet “anon” agrees with you on almost every ‘issue’ so maybe you should stop being mad at the entire world in your posts.
Joyce, there are so many teabillies posting in this blog, I don’t bother keeping track. Now which are you again, the one who blames cops for the downfall of America?
#51..I just had a “PHI” compliance course flashback….
I know it’s Friday and all but I would think we don’t want to be the Huffington Post where the left and right trade barbs all day and real knowledge sharing is lost. Please don’t go there folks.
re: jobs in NJ
Companies seem to still be looking and hiring just for 6 month contract workers. Real jobs (anything over $90,000 per year with benefits) are still scarcer than hens’ teeth, and noone over 50 is getting them (these are college and MBA educated people who had been laid off in the recession).
While we gripe over the jobs situation in NJ, my husband is reporting that he’s met other contract workers from California and Florida (they leave their families behind and get a room from Craig’s List for the duration). So it may be worse in other states.
My cousin is paying $17,800 per year in property taxes in Clifton and can’t send his kids to the high school because of the s.exual assaults and weapons possessions that appear to be part of the curriculum. Multiply that by a few hundred school districts and it’s hard to justify why property taxes are the highest on the planet. Of course, it must be for the children.
17 k in Clinton, and what a shit hole .
You’re red / republican is showing again… if you really think the govt is not fully captured by various ‘special interests’ with finance at the top of the list.
55.Comrade Nom Deplume, Bostonian says:
May 17, 2013 at 10:35 am
[49] ottoman,
Being presumes success. Government and others try but do not always succeed. And to be fair, banks try to manipulate government. I believe you are in the camp of those who believe banks have succeeded, n’est pas?
“government and its agents are not working in your best interests in fact they are working against them. Yes this includes cops.”
Government works for the corporate class. Cops are members of the poor and middle classes that you are trained like a monkey to blame for your troubles instead of looking to lax regulations and investment loopholes and the revolving door between government and corporations.
It was funny when someone here said it was fine for Morgan Stanley to default on a billions of dollars real estate deal but a homeowner who did the same on their $200k POS was filthy scum.
And I’m pretty sure it was Comrade who blamed government for forcing banks to lend to people who could never pay their mortgages. LOL. If the banks knew those loans were so bad, why’d they market and sell them off as great investments?
BTW, Comrade claims he’s not afraid of anything–correct me if I’m wrong but wasn’t he one of the regulars who went on and on about fortifying a compound to ward off roaming bands of looters and government helicopters when society collapsed? That’s not a sign of paranoia. lulz
re # 63 – I’ve got one from Hawaii and another from California, will work for food is basically what they are doing working here since after expenses they aren’t saving much to move back. The Hawaiian contractor got divorced sold his house in Hawaii and is now dating a girl from Jersey so I gather he won’t be going back. The California contractor is traveling back and forth but we cut his expenses so he is here allot more often. We also had another contractor from Texas, with a PHD. I canned him after finding out he was billing 40 hrs and working maybe 5 and his work product was pure crap, it is almost always the better educated ones that play the most games.
see below in CAPS
66.Ottoman says:
May 17, 2013 at 11:02 am
“government and its agents are not working in your best interests in fact they are working against them. Yes this includes cops.”
Government works for the corporate class. Cops are members of the poor and middle classes that you are trained like a monkey to blame for your troubles instead of looking to lax regulations and investment loopholes and the revolving door between government and corporations.
YOU ARE WRONG. THE COPS AND FEDERAL LAW ENFORCEMENT ARE THERE TO ROB YOU ON BEHALF OF THE GOVT… AS WELL AS PROTECT THE CORPORATE CLASS. WHO BREAKS UP PEACEFUL PROTESTS?… I THINK THEY WEAR BLUE USUALLY. WHO ENFORCES COMPLETELY STUPID, USELESS, AND UNCONSTITUTIONAL LAWS (BECAUSE THEY’RE JUST FOLLOWING ORDERS)? SAME GROUP
It was funny when someone here said it was fine for Morgan Stanley to default on a billions of dollars real estate deal but a homeowner who did the same on their $200k POS was filthy scum.
YEAH, MOOSE WAS AND IS STILL WRONG. I BELIEVE EVEN RETORTED THAT SINCE HE WASN’T IN THE MARKET FOR COMMERCIAL REAL ESTATE, IT DIDN’T BOTHER HIM. PURELY TWISTED LOGIC.
And I’m pretty sure it was Comrade who blamed government for forcing banks to lend to people who could never pay their mortgages. LOL. If the banks knew those loans were so bad, why’d they market and sell them off as great investments?
YES, HE WAS WRONG ON THAT.
Joyce [60];
Ottoman presumes his own moral and intellectual superiority a priori. He looks down his nose at anyone who questions him; such person must be intellectually inferior or have nefarious motives. I’ve seen the type before. Occupy camps were full of them.
Otto [66];
If the banks knew those loans were so bad, why’d they market and sell them off …
Because they were too smart to keep the toxic sludge on their own books. You can’t really be that dense. Feds wielded the CRA to make them lend — it didn’t say they had to commit suicide doing so.
…as great investments?
Salesmanship. Mere puffery. Once they decided to dump the crap, they had to convince some counterparty to take it.
70
Lying is different than puffery.
Nom, you left Westfield right? Did you have any complaints specific of the town? North side? Am i correct in recalling that your wife hated NJ? Just trying to get your take on the town as many seem head over heels in love with it.
Ottoman sounds a lot like an angry Seif/Dope. Similar politics.
While the press is mad and the tea party is in a huff a more important event occurred which has mostly been overlooked by the US MSM. What out for the dog wag since Russia supposedly delivered and undetermined amount of S-300 launchers to Syria, things might escalate quickly if jets start falling from the sky.
John Kerry has his work cut out for him.
Speaking of paranoia –
“THE COPS AND FEDERAL LAW ENFORCEMENT ARE THERE TO ROB YOU ON BEHALF OF THE GOVT… AS WELL AS PROTECT THE CORPORATE CLASS. WHO BREAKS UP PEACEFUL PROTESTS?… I THINK THEY WEAR BLUE USUALLY. WHO ENFORCES COMPLETELY STUPID, USELESS, AND UNCONSTITUTIONAL LAWS (BECAUSE THEY’RE JUST FOLLOWING ORDERS)? SAME GROUP”
By the way, I don’t totally disagree. However, I would blame the general stupidity, ignorance, and sloth of the American public over the past 30 years or so, more than the cops themselves, for allowing corporate control of government to become so complete. The German citizenry also dutifully “followed orders” as you say.
#67
Billing 40 and working only 5? Hah!
I keep hearing about contract workers afraid to take even coffee breaks , because slackers are told to leave immediately.
Meanwhile, some of the “real employees” are “working” from home, but rarely bothering to check their emails and doing minimal work.
Yes, there is tremendous resentment from the disposable drones, but most contract workers are absolutely desperate to work. Middle-class lifestyle, esp. in NJ, is expensive to maintain.
Those with kids at home or in college are additionally desperate for health benefits, thus searching for those nonexistant “real” jobs.
However, one could say the jobs situation in NJ has improved – because at the height of the recession the contract jobs were typically for 3 months – and now it’s for 6 months.
Ottoman – irrationality is an trait exibited on both sides of the isle.
Yellow card to Ottoman [75] for a Goodwin’s Law violation.
The German citizenry also dutifully “followed orders” as you say.
Since contract workers work for peanuts like an organ grinders monkey,full time workers fear them.
re # 76 – The billing 40 and working 5 only occurred after we allowed the PHD to work from home, it did not last too long.
One of my gigs was back during dot com days, we played golf every Friday and billed for it.
(75)
Everything I wrote is 100% accurate. If you disagree, state why rather than callng me paranoid. Surprised you didn’t also say ‘frivolous’ or ‘conspiracy theory’ … those along with paranoid are three of the favorite words used to try to discredit something without having to present any, you know what are they called, facts.
Private sector job gains in April were posted in five of the state’s nine major industry sectors. Industries with gains included: education and health services (+3,700), leisure and hospitality (+2,100), trade, transportation, and utilities (+1,700), information (+1,600), and financial activities (+1,400). Job contraction occurred in professional and business services (-4,700), manufacturing (-1,200), construction (-300), and other services (-100).
http://lwd.dol.state.nj.us/labor/lwdhome/press/2013/20130516_Unemployment.html
chi, your potentially getting a new neighbor. contract signed. The uber is scheduled.
So which is it Otto they are the kings men or they are part of the unwashed. Typical talking out of both sides of your mouth
moose if only more top men were in charge surely this would be toilet paper free paradise like Venezuela. Obviously, those of us who learned to think for ourselves were not taught the right lessons and must be re-educated.
Job contraction in the construction industry. I guess the broken window fallacy really is a fallacy. I would have thought that we’d have seen more jobs in the construction industry as a result of Hurricane Sandy.
[66] ottoman
Security = serenity. Prepared=peaceful. So, yeah, I’m not worried. It’s like the cop who found out a little old lady owned all these guns. He asked “What are you afraid of” and she replied “not a damn thing.”
[70] moose,
I see you had my back on that one. I would have been more technical but Joyce wouldn’t have believed me, and probably blames me because I represented the banks.
Brian,
I would guess a lot of the uptick in constuction due to Sandy has results in higher prices, not necessarily more (on the books) workers. And the Broken Window Fallacy is a fallacy not because a given industry won’t benefit… it’s because the industry benefits at the expense of another(s), so it’s at best a net zero for the economy (and usually a net loss).
86
I would love to hear the technical reasons on how there was no misrepresentation on the product being sold.
And I didn’t know you worked for the banks (unless you meant ‘defended’ and not ‘represented’)
[72] Randy
On balance, I liked the Brig. Very family-oriented town and you have to get a memorial pool membership and never let it lapse. If you have kids, it is, on balance, a great town.
North side vs. South side: An old issue, largely irrelevant, but I found that north side was less overbuilt, less congested, easier to get around, generally wealthier, fewer nuisances, like freight tracks, and the downtown is on the north side of the Raritan Valley line, which acts like a barrier between both sides of the town.
Schools are pretty good in terms of curricula. We are in a blue ribbon district here and they were covering in 4th grade what my older child covered in third. Also, it’s a great town/school system if your kid is an overachiever, pretty good if normal, but seems to be pretty hard on families with special needs kids. I can’t tell you how many parents I’ve met that have done battle with the school system.
Wife hated NJ in general. Mostly, it was the whole “its different here/Real Housewives” mentality. Rankled her a lot more than it rankled others. Also, she worked and is, in fact, the primary breadwinner. But she felt looked down on by the stay-at-home moms, one of whom wouldn’t let our au pair join the moms during a playdate.
I understand what the broken window fallacy is, I just thought we would have seen an increase in construction jobs because of it.
Joyce, my friend lives in Brick and there is still tons of devastation down the shore both in terms of personal property and public infrastructure. He says it would take your breath away. Contractors all over the place trying to keep up with the work too.
To put a picture in your mind….My family an I frequently go to the shore so we are familiar with it and basically know what the area has looked like for years. He said it reminded him of that scene at the end of the planet of the apes…..when they lead character realizes he’s looking at the ruins of the statue of liberty buried in the sand…the place he once knew is unrecognizable.
I understand what the shore looked/looks like. I have friends and family in Lavallette, Toms River, Chadwick, and Ortley.
[88] joyce,
I wasn’t responding to misrepresentation. Rather to your claim I was wrong and part of what you replied to was the fact that banks were effectively forced/obligated/arm-twisted into making loans to poor prospects.
This was done to comply with CRA and to gain regulatory approvals for bank structure applications. I have been in the room when these expectations were discussed. Subprime lending was a vehicle seized upon as a method to comply with the regulations and expectations. Securitization further meant that the banks could make these loans and not incur the default risk. So prudential considerations went out the window because there was no downside for not being prudential. I can go further into the weeds here but it may make your eyes glaze over.
As for defended vs. represented, what’s the difference? I wasn’t a litigator representing banks (we had Andy Sandler for that), just a regulatory attorney so I represented the banks before state and federal regulators. I was never in court on behalf of a bank.
http://www.app.com/viewart/20130517/NJNEWS10/305170063/NJ-uses-2006-values-property-tax-credits
NJ uses 2006 values for property tax credits
May 17, 2013 9:28 AM | Comments
New Jersey News
TRENTON — Some New Jersey Democratic lawmakers are complaining that New Jersey calculates property tax relief rebates based on homeowners’ 2006 bills rather than current ones.
The Record (http://bit.ly/106IojK) reports recipients would get about $100 more each year if the state used updated tax bills for its formula.
But using earlier values is a way to save scarce state government resources.
Rebate checks from the state government used to arrive annually for many homeowners. In 2007 and 2008, the relief checks averaged over $1,000.
In 2009, the government reduced the number of homeowners who were eligible by using strict income limits.
And since then, the amount of the payments has been lower. The money is now given as tax credits rather than rebate checks
[73] brian,
Same style, different degree of anger, slightly less snark. Hard to say if Ottoman is the continuation of the seif-dope line. Not going to dwell on it though.
Now that I think about it, we haven’t heard from cobbler in a while. Hmmm.
joyce,
I love reading your posts. :)
Thanks Nom, had a house in Chatham that we backed out of because it was on a busy road with no on-street parking. Under contract in Westfield on the south side but boy we had to pay heftily. Shocking that Westfield seems more expensive than Chatham. Still not sure about the purchase as the house needs replacement windows, a new roof, basement finished etc. — and the house cost in the high 500’s!! Just was curious if you had positive or negative experience — thanks for sharing.
Tuned into the hearings going on right now (relevant for some work I am doing).
Rep. from PA named Kelly just opened up on the witness, not to ask questions but to launch into a screed about IRS and abuse of power. And when he yielded, he got a standing ovation from the gallery. I was stunned and I think the committee chair was as well. Seems that the tea party groups packed the gallery.
Overall, a lot of this are reps taking the opportunity to paste the IRS for the cameras and JSPs back home. Lots of “gotcha” stuff as well. Tedious and normally, we can tune it out, but this was just so vitriolic. Dems doing some backfilling to spin things but largely laying low.
But one guy named Griffin from down south, actually teed off on the IG a bit, and in what I thought was an intelligent way. His questioning went right to where I was on the TIGTA report; that it wasn’t an investigation but an audit. It didn’t seek to affix blame or investigate motive even though it said it found no motive. IG was forced to concede that they didn’t really investigate for motive but planned to do so.
Griffin also expressed wonder at why everyone kept bringing up Citizens United. I had wondered about that as well because, as Griffin had pointed out, these groups existed before, and seemed to be proliferating for reasons unrelated to Citizens United.
The case really has nothing to do with this issue.
[96] randy,
quite welcome. As for Chatham, aside from being on the midtown direct, I could never understand the attraction. They won a few beauty contests of a sort that the towns themselves can rig (some towns/cities in New England wound up on those lists even though some where shiiteholes), but I never considered Chatham to be especially nice or amenable to families.
Hopefully, you are further north on the southside. Daddyo bought on Willow Grove. I would not want to be below that unless you needed quick access to the GSP or your kids will play travel soccer.
(72) Randy
I would actually disagree with Nom on north vs. south, but I guess that’s because he was a North-sider and I’m a south-sider. Positives and negatives to both, but we preferred the south side, felt a little more down to earth, if that’s even possible in Westfield.
Randy, which house are you buying? We are now under contract on the south side too…ha!
[99] daddyo
I said that there was little distinction, but one thing I did notice is that south side is much more congested. Smaller lots, closer together, and more traffic issues. And in the deep southern part of town, you might as well be in Clark.
on our official web blog picked up by a large assortment of fresh news about новости мобильного рынка.
I heard Leroy Brown is also buying there
daddyo says:
May 17, 2013 at 1:01 pm
Randy, which house are you buying? We are now under contract on the south side too…ha!
More on the Citizens United claim. I was curious and found that Jared Bernstein, a regular flack for the far left, picked up on an NYT piece, and he says this:
“It’s the Supreme Court’s Citizen United decision and subsequent tax law written by Congress that gives these groups tax exempt status (under rule 501(c)(4)) as long as most of their activities are primarily on educating the public about policy issues, not direct campaigning.”
Ugh. Bernstein and the NYT at their worst. Where do I begin?
First, Citizens United said nothing about tax, exempt status, or what (c)(4)’s can do or not do. NOTHING. The group was a (c)(4) but that is the only reason it is even mentioned in the opinion.
Second, there was no subsequent tax law passed by Congress on this. And if there was any, it would have required democratic support.
Third, the “exclusively” vs. “primarily” argument that Bernstein/NYT/O’Donnell key on as supposedly providing political cover is based on regulatory language that existed well before Citizen United. In fact, 26 CFR 1.501(c)(4) was promulgated in 1960 and last amended in 1990.
Fourth, the “primarily” language isn’t even operative here. These groups are engaged in only one activity. Either the activity is political or it isn’t. Rather, the distinction is what is a “social welfare” activity, like education, and what is political. To his credit, that is what former Acting Commissioner Miller said was the issue.
Like the GOP reps railing against IRS abuse, this is geared to appeal to the great unwashed. The left wants to tie an unpopular decision to 501(c)(4)s and get 501(c)(4)s walled off from anything remotely approaching political, and they try to do so in a very hamfisted way. This can be done easily through legislation—Section 501(c)(4) isn’t sacrosanct. Interestingly, that hasn’t been suggested.
Finally it occurs to me to ask: Is Bernstein lying or just incompetent?
Opposing views are welcome. Ottoman, you game?
joyce (60)-
Please clarify your statement. I am firmly in the anarchist camp and do not desire to be ID’d with libertarian wieners or the teabagging hoi polloi.
freedy (64)-
Those new turf soccer fields at the old steel mill in Clifton are nice, though.
joyce (71)-
Even the law sees the difference between puffery and lying. Too bad moose can’t.
A puffer is someone who get the star hard before the director yells action. Lying is what the director does when he tells the 19 year old star this is an “art” film.
Scrapple n’Ricin says:
May 17, 2013 at 1:38 pm
joyce (71)-
Even the law sees the difference between puffery and lying. Too bad moose can’t.
plume (89)-
I thought they shunned your au pair because she packed a taser.
“Wife hated NJ in general. Mostly, it was the whole “its different here/Real Housewives” mentality. Rankled her a lot more than it rankled others. Also, she worked and is, in fact, the primary breadwinner. But she felt looked down on by the stay-at-home moms, one of whom wouldn’t let our au pair join the moms during a playdate.”
(92)
OK
By defended, I meant defending them here in your posts… while represented, I meant worked for them.
(105)
I included you in the “and on and on” categories ;-)
Blow the mf’er up, and start all over.
Anything else will be a fail.
Most play-dates are drop offs. Parents stay when they like each other. An Au-pair if it was a real Au-pair that most likely would be ok. But Au-pairs are college students you are providing education opportunities who are hear short turn. Are we talking a rich wealthy hot high class au-pair or some mexican?
Working Moms main bad rap is they are lazy. My cousin is a “working mom; she always does I can volunteer I am a working Mom, I can’t be girl scout leader I am a working Mom, I can’t cook or bake I am a working Mom. She then expects the stay at home Moms to cover for her all the time. Then since she has double income she flies off to places like Couples in Jamaica without the kids as she has a live in nanny and then rubs it in the other Moms faces. The other Moms catch on by 1st grade and cut these Moms out.
Also I find your story unbelievable. A women who makes more than a Man? My friend Don Draper told me that is impossible. Actually it rarely happens Men Marry fro Looks Women Marry for Money. My buddy who makes like 750K married an ex-stripper ten years younger.
working moms are also a threat to the whole existence of stay at home moms, once they infiltrate you neighborhood they grow like cockaroaches, soon home prices start shooting up as folks have double incomes, restaurants raise prices things go up in price. Husbands start saying Joes wife works and he has a new Mercedes why don’t you go back to work. Next thing you know you are alone in the park with a bunch of mexicans nannys blabbering in spanish while kids run wild with no supervision.
Scrapple n’Ricin says:
May 17, 2013 at 1:42 pm
plume (89)-
I thought they shunned your au pair because she packed a taser.
“Wife hated NJ in general. Mostly, it was the whole “its different here/Real Housewives” mentality. Rankled her a lot more than it rankled others. Also, she worked and is, in fact, the primary breadwinner. But she felt looked down on by the stay-at-home moms, one of whom wouldn’t let our au pair join the moms during a playdate.”
[110] joyce,
There are some things I can defend, some I can’t, and a lot I can’t say because I have no percipient knowledge. I try to interject fact where I can; I speak truth to snark.
Scrapple,
Nice seeing you yesterday. Have 8 bottles to make tasting notes on. It’s a tough job but someone has to do it. Any word on how B did on the exam?
MrWilson:
I think you need CommanderBobNJ, but I haven’t seen him post for a while. Didn’t Bob do re-designs and renovations?
[109] scrapple,
No taser, not for foreigners in NJ.
She is now studying law in Germany. When she first started taking law courses, she was put off by the arrogance of the upperclassmen. She asked “is it a requirement that law students have to be arrogant?” To which the wife and I both replied “Well, yeah.”
MrWilson:
And congrats on your new house.
Nom just got home so I should.turn on CSPAN for kabuki theatere
JJ,
If you have a rent-controlled or rent-stabilized apartment in NYC, you have to be able to show a tax return as a NYC taxpayer, or you can be evicted. You also have to be in residence for a specific minimum period of time every year – I think it’s 6 months. But it’s not so easy to hold on to a cheap apartment while living elsewhere.
However, that being said – I wish you had kept your cheap apartment in Astoria. Then I could watch & wait and get a photo. Like getting a shot of Big Foot :)
Fast Eddie,
I’m surprised you, and others, didn’t post this :-p
Millennials: Don’t call me ‘entitled’
http://money.cnn.com/gallery/news/economy/2013/05/17/millennials/index.html
Scribe get on the 5:33 PM at Penn and you will have a chance to spot JJ and a whole hour to do it. All you need to do is ask each passenger if they like crushed velour and if can they hold your onions.
[117] pain
As kabuki went, it was much more entertaining than usual.
http://online.wsj.com/article/SB10001424127887323716304578481020743972716.html?mod=residential_real_estate#articleTabs%3Dcomments
Here is the most expensive house on the market in the US, just listed this beauty can me had for 190 million. Oh,how much is that a month and how are the schools?
Mr. Wilson, I won the shopping spree at the General Store, not you. You know you can’t count.
My favorite Dennis the Menace episode.
Dennis did take care of Mr. Wilson at the end.
Not true, I had the rent controlled apt in my name for a few years, I never once filed taxes there. I did get an electric bill there.
scribe says:
May 17, 2013 at 2:36 pm
JJ,
If you have a rent-controlled or rent-stabilized apartment in NYC, you have to be able to show a tax return as a NYC taxpayer, or you can be evicted. You also have to be in residence for a specific minimum period of time every year – I think it’s 6 months. But it’s not so easy to hold on to a cheap apartment while living elsewhere.
However, that being said – I wish you had kept your cheap apartment in Astoria. Then I could watch & wait and get a photo. Like getting a shot of Big Foot :)
I was pm a train around that time. I had a few tall boys, watching breaking bad on my Iphone and had a few hotties in the five seater saluting my flag pole, you wont miss me
Juice Box says:
May 17, 2013 at 2:44 pm
Scribe get on the 5:33 PM at Penn and you will have a chance to spot JJ and a whole hour to do it. All you need to do is ask each passenger if they like crushed velour and if can they hold your onions.
plume (113)-
Website says “end of day” today. Everyone on pins and needles here.
If she didn’t pass, I’m going to firebomb a court building.
pain (117)-
I’d rather watch 17 straight hours of Blue’s Clues than 17 minutes of Clowngress.
excellent…..we’ll grab a beer at Huddy’s
BearsFan says:
May 17, 2013 at 11:50 am
chi, your potentially getting a new neighbor. contract signed. The uber is scheduled.
Scrapple not if you make it a drinking game while your kids throw used.diapers at the tv
What would lure JJ out of hiding?
For the answer, tune in on Monday when JJ is back at work.
Scrapple [127];
Good luck. Archaic little system that NJ doesn’t have reciprocity with any other state, but I guess hard perimeters aren’t just for civil zombie defense.
Daddyo, house is on Clifton St. Would be a pleasure to meet you down the road as you are not far away.
I must say that traffic around the south side when school is dismissing is abominable!! What is the fastest way to 22 West when you’re in Westfield? It seems like there is no easy way… I work in Branchburg so might be tempted to Parkway north to 78 west in the morning for a semi “reverse commute”
Rep. Kelly’s rant and his standing ovation made YouTube already. Funny stuff.
128 – chi was there on Saturday. We squeezed in a round right before the heavens opened up. I like the place. def would like to do that one day down the road if this goes well for me.
This guy was made for NJ. We have to find a way to get him down here…..
Toronto’s mayor allegedly caught on camera smoking crack cocaine
From ASSOCIATED PRESS
TORONTO — A video purportedly of Toronto’s mayor smoking crack has caused an uproar in Canada.
The video has not been released publicly and there is no way to verify whether it is authentic. Reports by gossip website Gawker and The Toronto Star said it was taken by a man who claimed he had sold crack to Mayor Rob Ford.
Ford said when he emerged from his house on Friday that the allegations are “ridiculous.”
He later made similar comments twice outside his office, but also added that it was “another story with respect to the Toronto Star going after me.”
The Star said two reporters watched a video that appears to show Ford, sitting in a chair, inhaling from what appears to be a glass crack pipe. The Star said it did not obtain the video or pay to watch it.
The Star also alleges Ford made an anti-gay slur against federal Liberal Leader Justin Trudeau.
Ford later appeared Friday afternoon at a previously scheduled ceremony marking International Day Against Homophobia.
The mayor of Canada’s largest city has been embroiled in constant controversies about his behavior since being elected in 2010, but these are the most serious allegations he’s faced yet. He has been accused of flouting conflict of interest rules and making obscene gestures at residents from his car, and has had high-profile shouting altercations with a Toronto Transit worker as well as a Toronto Star reporter.
Ford, a right-wing city councilor for years, promised to end wasteful spending at city hall when he became mayor, tapping into a well of voter anger with his “stop the gravy train” message. Ford also said Toronto would be better off if it didn’t accept more immigrants. Half of Toronto’s population was born outside Canada.
Toronto deputy mayor Doug Holyday questioned the authenticity of the video, saying “video can be altered” and “drug dealers can’t be trusted.”
Holyday said he has not spoken to Ford or his staff since the allegations surfaced, but noted he still believes in the mayor “at this point.”
“I’m not sure who is behind this. I wouldn’t want my career or my credibility resting on the word of drug dealers,” Holyday said.
Councilor Adam Vaughan, a frequent opponent, called Ford a “bad mayor” and said the city council has been working around his controversies since the day he was elected.
Last Post.
nom[94]
Sorry not to have time to provide entertainment on cue… too much work at work, plus some renovation project going on at home.