From the Press of Atlantic City:
Home flipping gains momentum in South Jersey as foreclosures soar
The business of buying and selling houses for quick profit is in decline nationally, but a second wave of foreclosures in New Jersey has bumped it up locally.
The practice known in the real estate industry as “home flipping” is defined as the resale of single-family homes within six months of their purchase. It can make money for people when home prices are rising, or when distressed properties are available to be touched up and resold.
Flipping declined nationally from 6.5 percent of home sales in the first quarter of 2013 to 3.7 percent in the first quarter of 2014. Some see that as a good trend.
…
Blomquist noted, however, that the Jersey Shore retains a rather strong home-flipping market. From March 2013 to April 2014, there were 472 properties flipped in Atlantic County, 206 in Cape May County, 146 in Ocean County and 22 in Cumberland County, according to RealtyTrac data.He said it probably comes down to an inflated housing inventory that is being fed at the shore by the large number of foreclosures.
“I think in most areas the flipping frenzy will die down. It already has in areas such as Phoenix and Las Vegas. There’s less inventory for flippers to buy. You’ll see less in Atlantic City as foreclosure numbers decline,” Blomquist said.
Foreclosures in Atlantic County rose 116 percent between the first quarter of 2013 and the first quarter of this year. They were up 90 percent in Cape May County, 127 percent in Cumberland County, and 71 percent in Ocean County during that time. New Jersey is fifth in the nation for foreclosure filings.
Anthony D’Alicandro, a real estate agent with Coldwell Banker Casa Bella in Linwood, said the foreclosure trend is far from over. He knows of about 100 properties that have gone through foreclosure and are not even on the market yet.
“Foreclosures are up substantially. This presents a lot of flip opportunities,” D’Alicandro said.He noted banks are starting to renovate some houses for sale. They key is to do the work and keep the price in the median home value for the area.
“If they’re in good condition, they’re selling for every bit of market value,” he said.
…
The average gross return on the home-flipping investment, nationally and in New Jersey, is about 30 percent, according to RealtyTrac figures. The national average purchase price is $183,276, with the home sold within six months for $238,850. The New Jersey average purchase price is $228,962, with the home selling for $298,505.RealtyTrac figures for counties for the 12 months ending April 1 show the return is much higher for home flippers at the shore, with the exception of those in Cape May County.
Atlantic County had an average purchase price of $115,550 and a sale price of $186,612, for a gross return of 62 percent.
Ocean County had an average purchase price of $153,028 and a sale price of $220,928, for a return of 44 percent.
Cumberland County has a purchase price of $80,156 and a sale price of $146,311, for a return of 83 percent.
Cape May County had a purchase price of $508,338 and a sale price of $638,865, for a return of 26 percent.
Flipping in SoJo? That will end well.
New Jersey Plant Closing http://www.nj.com/business/index.ssf/2014/06/carefusion_medical_device_firm_shutters_totowa_plant_lays_off_390_employees.html
Millennials Seen Surging as Homeowners in U.S.
Dustin Taylor, who’s burdened with $50,000 of student debt after getting his master’s degree in government at Johns Hopkins University, is waiting tables at a comedy club to pay the rent.
Taylor said his desire to get a mortgage to buy a home within five years is no joke.
“Home ownership is out of reach for me,” said Taylor, 33, who’s been looking for a job in Washington since he graduated in December. “Renting is fine for now, but I want to own a home for all of the cliched reasons.”
More at: http://www.bloomberg.com/news/2014-06-24/millennials-seen-surging-as-homeowners-in-u-s-mortgages.html
Hey Mike
Just remember all is not as bad as it seems, Mcdonalds is looking for millenials with graduate degree’s to man the microwaves and deep fryers. In 10 20 years, if they are a good productive members of society, live in a cardboard box with 7 other of your friends from college & pay off your student loans, they may be able to scrape enough together to buy a used chicken coop in north Jersey. its a step up. during this time the boomers will also be dying and mummifying in the fixer uppers that they want half a million dollar for, but lets be positive cause the economy is smoking for the 1% silver spooners, politically connected, and good ole boy members send them jobs to Mehico, it will help improve those paultry multi million dollar executive bonuses.
Thanks NAFTA!!! Viva la Mexico!!!!
Mike says:
June 24, 2014 at 6:54 am
New Jersey Plant Closing http://www.nj.com/business/index.ssf/2014/06/carefusion_medical_device_firm_shutters_totowa_plant_lays_off_390_employees.html
funnelcloud,
A half million for those piece of shit mummy houses? Wishful thinking! No, you will need to vomit 600k plus and live with the foul smelling kitchen and bathrooms.
New Jersey seems committed to holding onto the recession. Way to go Christie.
Since the subject came up and folks are gonna look for a side to blame, here’s some history:
“[T]he House of Representatives approved NAFTA on November 17, 1993, 234-200. The agreement’s supporters included 132 Republicans and 102 Democrats. NAFTA passed the Senate 61-38. Senate supporters were 34 Republicans and 27 Democrats. Clinton signed it into law on December 8, 1993; it went into effect on January 1, 1994.[3][4] Clinton, while signing the NAFTA bill, stated that “NAFTA means jobs. American jobs, and good-paying American jobs. If I didn’t believe that, I wouldn’t support this agreement.”
So here we are, fully 8 years beyond the 2006 peak, and foreclosure property are still just dribbling onto the market in NJ.
Seems to me that the Real Estate-Industrial Complex has won.
You just proved why the two party system is broken. It’s one party. It’s a good cop bad cop system. You will think one side is good and one is bad. This plays into people focusing on which side is right, when they should just realize that they are both on the same side, and are just playing you!
You also proved why you can’t believe a word a politician says. Thanks Clinton for backing this policy in the name of job creation. Great guy!! How do people believe this crap?
Comrade Nom Deplume, a.k.a. Captain Justice says:
June 24, 2014 at 8:05 am
Since the subject came up and folks are gonna look for a side to blame, here’s some history:
“[T]he House of Representatives approved NAFTA on November 17, 1993, 234-200. The agreement’s supporters included 132 Republicans and 102 Democrats. NAFTA passed the Senate 61-38. Senate supporters were 34 Republicans and 27 Democrats. Clinton signed it into law on December 8, 1993; it went into effect on January 1, 1994.[3][4] Clinton, while signing the NAFTA bill, stated that “NAFTA means jobs. American jobs, and good-paying American jobs. If I didn’t believe that, I wouldn’t support this agreement.”
2nd Bridge Inquiry Said to Be Linked to Christie
http://www.nytimes.com/2014/06/24/nyregion/2nd-bridge-inquiry-said-to-be-linked-to-christie.html?_r=0
The inquiries into securities law violations focus on a period of 2010 and 2011 when Gov. Chris Christie’s administration pressed the Port Authority to pay for extensive repairs to the Skyway and related road projects, diverting money that was to be used on a new Hudson River rail tunnel that Mr. Christie canceled in October 2010.
Just remember all is not as bad as it seems, Mcdonalds is looking for millenials with graduate degree’s to man the microwaves and deep fryer
From the BLS:
Earning and unemployment rates by educational attainment
2013
Doctoral Degree – 2.2% UE
Professional Degree – 2.3% UE
Master’s Degree – 3.4% UE
Bachelor’s Degree – 4.0% UE
Associate’s Degree – 5.4% UE
Some College, No Degree – 7.0% UE
High School Diploma – 7.5% UE
Dropouts – 11.0% UE
Overall – 6.1% UE
We can laugh at the liberal arts graduate idiots with their useless degrees, but the fact is, on aggregate, education has a strong impact on employment.
These #s show, that there is a purpose in getting an education. Add in the ideas being thrown around that college is not worth it, combined with higher education costs, and you have yourself a recipe to return to the days in the 80s and 90s where any college degree got you a job. I wonder if we peaked, in terms of % of the population holding a 4 year degree, yet?
grim says:
June 24, 2014 at 8:47 am
Just remember all is not as bad as it seems, Mcdonalds is looking for millenials with graduate degree’s to man the microwaves and deep fryer
From the BLS:
Earning and unemployment rates by educational attainment
2013
Doctoral Degree – 2.2% UE
Professional Degree – 2.3% UE
Master’s Degree – 3.4% UE
Bachelor’s Degree – 4.0% UE
Associate’s Degree – 5.4% UE
Some College, No Degree – 7.0% UE
High School Diploma – 7.5% UE
Dropouts – 11.0% UE
Overall – 6.1% UE
We can laugh at the liberal arts graduate idiots with their useless degrees, but the fact is, on aggregate, education has a strong impact on employment.
Don’t care about the pension issue. What I am focused on is what this comment mentions. The need for govt debt, so someone can buy the bonds and get paid off of tax money. How many loans were taken out in the history of our govt, just so some people could have access to bonds. I wish it was possible to find this stat out, but I’m sure it’s impossible.
“We continue to pay 7.75% interest in Whitman’s $2.7 billion loan. We will pay until 2033, 14 billion total. The balloon payments kick in soon as well. You can bet John R. Whitman bought a bunch of those bonds and is laughing all the way to his offshore bank.”
http://www.nj.com/opinion/index.ssf/2014/06/quigley_nj_unable_to_stop_compounding_pension_woes.html#incart_river_default
re # 10 – ” It’s one party” You are damm sure right on that one it is one big Party down in DC there is never a recession there.
Here is some Poetry by Rumi for you.
http://www.youtube.com/watch?v=Y5xNStofPQ0
11 – Our governor was able to convince the Port Authority to fix the Skyway with Federal funds? And this is a problem?
He should be praised, not prosecuted. What the f*ck do these people want? To pay for it out of our taxes?
If only we could get the Feds to pay more, god knows we send more money to Washington then we get back.
Dysfunctional politics at it’s best, perhaps if they spent more time trying to solve problems, then trying to concoct schemes to prosecute someone for nothing.
re # 11- The real scandal is it costs on average 7x as much for roadwork in NJ compared to the rest of the country. Construction to replace the deck on the 3.5-mile-long Pulaski Skyway cost billions for just the northbound lanes? Only 40,000 cars a day? Bulldoze that POS bridge…
re # 16 – All of the Port Authority commissioners including Cuomo’s appointees voted for the spending on the Pulaski. The AG investigating on the NY side of the river should come up with a criminal conspiracy indictment for all of them.
Break up the Port Authority, sell it to private investors, and call it a day.
Port Authority took over Atlantic City International Airport last year too.
G0d bless the 1%! Without them, not many of us would enjoy the benefits, perks, opportunity to learn and grow side by side with so much talent nor be able to invest and grow our own wealth.
Happy Birthday NJ…350 years young.
Lol well said
Juice Box says:
June 24, 2014 at 9:38 am
re # 11- The real scandal is it costs on average 7x as much for roadwork in NJ compared to the rest of the country. Construction to replace the deck on the 3.5-mile-long Pulaski Skyway cost billions for just the northbound lanes? Only 40,000 cars a day? Bulldoze that POS bridge…
Cool looking bear on the run. I hope they don’t blow him away.
http://www.nj.com/middlesex/index.ssf/2014/06/large_bear_on_the_run_in_middlesex_towns_police_say.html#incart_river_default
Regulation is so bad in NJ that they can’t even show instant replays at sporting events when the play is controversial.
And the sports betting ban was completely politically motivated. The NFL franchises in the area paid a lot of money to make sure this would never see the light of day in NJ.
Baa Baa.
grim #12
Though I generally agree with you on the education factor, The numbers do not seem to match< Alot of the individuals on this blog throw around mind blowing numbers to me when they talk about 200K salaries bonuses ect, Finance, Acctounting, business Mangament maybe Yes, In a research field, I work with Phd's with 10 + experience that make 135K, When I graduated college 25 years ago I had offers from 3 companies before graduation, If I had not chosen to go to school I had options. Some of my friends that were not what you may call college material were buying homes working $12-13 an hour jobs. Today an entry level position in my dept with a masters gets you a little over 50K but the glass ceiling will kick in at less than 100K maybe not a min wage job but still a far cry from the numbers that get thrown around this blog. and that is IF you get the open position. Last open position in my dept. 250 applicants for 1 job where do the other 249 get jobs?? My friends daughter has a degree in biochemistry (not exactly a lib arts degree) She is working at a dairy queen because she could not get a job in her field. The thing that bothers me about many of the comments on this blog is not about success of an individual, (I'm for creation, I for success,). It is about the total lack of empathy, The I got mine F_U attitude. Very few people including I bet some of the bigger money earners on this blog are truly self made, That statement Especially rings true for those sitting in corp management positions, They may have worked hard but somewhere, sombody cut them a break, The generation of managers running the show today are so F+=ing self absorded that they don't take the time to think or appreciate the fact that workers are the morter holding up their offices in the sky Take the cheapest way out to maximize profits now and screw the next generation
Any chance someone knows an extremely motivated chemist with a background in flavor chemistry and a good enough biochem background to understand yeast and fermentation?
No pay, in fact if you want in, you will need to contribute startup funds and work hours in exchange for a partnership position.
Heck, even a chem grad working as a barista looking to add a line to their CV that doesn’t include steaming milk.
Guarantee you that this single line item will result in an hour long discussion with any recruiter or potential employer.
27. Find someone with an h1b visa.
Promise them the world, have them work for free for the next 3 years, then have them deported.
Only then will you have mastered capitalism correctly.
MSNBC’S Joe Scarborough angrily denounced The New York Times for burying a new story on the Treasury’s internal investigation over the lost IRS emails, calling it a “scam” and explaining “this is why conservatives don’t trust print media.”
http://news.yahoo.com/scarborough-savages-nyt-burying-irs-email-scandal-scam-132021594.html
lmao….so true.
phoenix says:
June 24, 2014 at 11:30 am
27. Find someone with an h1b visa.
Promise them the world, have them work for free for the next 3 years, then have them deported.
Only then will you have mastered capitalism correctly
Well said. Why is it so hard to be empathetic for people at the top?
funnelcloud says:
June 24, 2014 at 11:09 am
grim #12
Though I generally agree with you on the education factor, The numbers do not seem to match< Alot of the individuals on this blog throw around mind blowing numbers to me when they talk about 200K salaries bonuses ect, Finance, Acctounting, business Mangament maybe Yes, In a research field, I work with Phd's with 10 + experience that make 135K, When I graduated college 25 years ago I had offers from 3 companies before graduation, If I had not chosen to go to school I had options. Some of my friends that were not what you may call college material were buying homes working $12-13 an hour jobs. Today an entry level position in my dept with a masters gets you a little over 50K but the glass ceiling will kick in at less than 100K maybe not a min wage job but still a far cry from the numbers that get thrown around this blog. and that is IF you get the open position. Last open position in my dept. 250 applicants for 1 job where do the other 249 get jobs?? My friends daughter has a degree in biochemistry (not exactly a lib arts degree) She is working at a dairy queen because she could not get a job in her field. The thing that bothers me about many of the comments on this blog is not about success of an individual, (I'm for creation, I for success,). It is about the total lack of empathy, The I got mine F_U attitude. Very few people including I bet some of the bigger money earners on this blog are truly self made, That statement Especially rings true for those sitting in corp management positions, They may have worked hard but somewhere, sombody cut them a break, The generation of managers running the show today are so F+=ing self absorded that they don't take the time to think or appreciate the fact that workers are the morter holding up their offices in the sky Take the cheapest way out to maximize profits now and screw the next generation
It’s all about “competition”. Why I don’t know? We are all humans, why can’t we have the maturity and respect to live life a little easier. Why do we constantly have to compete with each other. We are the dominant species. Wtf is the point? Innovation? Who gives a crap about innovation. All it does is create more problems. Why don’t we just relax and enjoy life. What is the purpose of the rat race? If you learned how to create machines to do the work of human beings, why are we working harder than ever? What’s the purpose of the machine? Why do you need a dual income now with all these machines to do the work? Innovation is a lie. It just makes you more of a slave to bs. So much precious time wasted on meaningless work. Done with my rant.
How much crack did you smoke today?
From the Times, but not really surprising….
A recent groundbreaking study found that undetected insider trading occurs in a stunning one-fourth of public-company deals.
These are not the only ways in which big market players make money at the expense of other investors.
http://www.nytimes.com/2014/06/23/opinion/best-execution-and-rebates-for-brokers.html
re: “slave to bs.” Sounds about right Michael.
Simpler life? You are now at the pinnacle of simple life. You get to debate all day online with yourself while other do the heavy lifting for you.
Do you know what jobs the people in your family did 200 years ago before industrialization and innovation? Do you have any kind of idea the amount of real shit you would be shoveling without innovation?
Fast Eddie,
The times and the post ARE two liberal rags. Fox News, also a national outlet, does the same thing. The Times needs to sell Subarus and Fox News, non circulated coins and hearing aids. Baa Baa.
33. Michael, not competition, it’s exploitation.
The USA was founded on slavery. You cannot do that anymore. But if you can convince someone to work for free, hey, they had a choice, therefore it’s not slavery.
The youth are the biggest targets as they are have faith in the adults and have not yet developed cynicism yet.
So the adults exploit them. In every way. Marketing, Finance, Sex, false promises.
Market crap to kids when they are little.
Tell them that basket weaving is a real career, go get a student loan and you will be rich.
Oh by the way, I am an adult and can file for bankruptcy for almost anything, but your student loan WILL NEVER be dischargeable in bankruptcy, f*** you, pay me, and pay me alot in interest.
You are a new teacher, fireman or cop, I am a retired one, I get my pension, please buy my overpriced house and refill my pension coffer, but you don’t deserve one. Earn it first. By the way I am taking 100x the amount I put in, and you get to pay it back.
Come here, 20 year old girl, I am a 60 y/o man with a wife and if you want a job come sleep with me. Notice the old goat’s don’t seem to put in the same effort to pick up a 60 y/o chick.
Perhaps times are changing?
What would you do for a downpayment?
Just how difficult is it for people to come up with a down payment on their first home?
It’s so hard that nearly 60% of couples would be willing to forgo their honeymoon for a down payment, according to a recent ERA Real Estate survey of 1,000 people in committed relationships. And nearly 50% of women said they’d give up a big engagement ring.
http://www.marketwatch.com/story/what-would-you-do-for-a-down-payment-2014-06-24
So Michael,
1. Teach your kids to work hard.
2. Teach them to respect others, BUT only the others that RESPECT THEM.
3.Every dollar they have needs to be put to work to make another dollar, do not buy things that do not go up in value.
4. Don’t buy into the bull that “college is not for everyone” crap. It is true, but not for your kid. Education/Knowledge is very powerful, otherwise companies would not be making millions on mining your freak’ in data. They need to know about you to exploit your weaknesses.
5. Question EVERYTHING, and pay attention to detail. Small things can trip you up.
6. Think outside the box at all times.
7. Listen carefully to what others say when doing a deal. The biggest rats act like they are forthcoming with info, but the REAL info is what they LEFT OUT… Keep an eye out for what is missing and you will find the rat almost every time….
It’s so hard that nearly 60% of couples would be willing to forgo their honeymoon for a down payment, according to a recent ERA Real Estate survey of 1,000 people in committed relationships. And nearly 50% of women said they’d give up a big engagement ring.
Sounds brilliant to me, since both of these things were largely constructed by marketers trying to separate you from your money.
Honeymoon in the 1970s involved driving to Niagara Falls.
Listen, I was just going through a philosophical process. I was just questioning why we work so hard? We have one life to live. You would think we would let the machines do some work and learn how to collectively enjoy the spoils. Shouldn’t take life so seriously, never going to make it out alive. Mine as well enjoy it.
grim says:
June 24, 2014 at 12:04 pm
How much crack did you smoke today?
“You would think we would let the machines do some work and learn how to collectively enjoy the spoils.”
WALL-E!
Come up with 3 more and you have the modern 10 commandments. Thanks. Seriously, awesome post. You are the man!
phoenix says:
June 24, 2014 at 12:35 pm
So Michael,
1. Teach your kids to work hard.
2. Teach them to respect others, BUT only the others that RESPECT THEM.
3.Every dollar they have needs to be put to work to make another dollar, do not buy things that do not go up in value.
4. Don’t buy into the bull that “college is not for everyone” crap. It is true, but not for your kid. Education/Knowledge is very powerful, otherwise companies would not be making millions on mining your freak’ in data. They need to know about you to exploit your weaknesses.
5. Question EVERYTHING, and pay attention to detail. Small things can trip you up.
6. Think outside the box at all times.
7. Listen carefully to what others say when doing a deal. The biggest rats act like they are forthcoming with info, but the REAL info is what they LEFT OUT… Keep an eye out for what is missing and you will find the rat almost every time….
Re:42 -and in the 1960s it was the Catskills.
46 – In the 2010s it’s a $10,000 two week vacation on an exotic island, preferably one in the Pacific.
Only breaks I got I just took advantage of. When Jimmy Carter was President he was pretty generous with Financial Aid for college that even after Regan became President it took Regan several years to unwind what Jimmy put in place. As such I got my entire undergraduate degree paid for. Then back in late 80s and early 90s companies were pretty generous with paying for MBAs and I got mine paid for. So I got College and Masters basically for free. Also when Wall Street was flying high, Y2K, Internet Bubble Collaspe, SOX, whatever, you name it I always jump in. And privately any crash in stocks or RE I usually buy. Finally, I picked my majors and my jobs as the highest paying majors and jobs I were capable of getting. Not based on what I like. Guess what Socialogy was my favorite course I ever took. I also like History and English. Guess what they are hobbies not careers.
26.funnelcloud says:
June 24, 2014 at 11:09 am
grim #12
Though I generally agree with you on the education factor, The numbers do not seem to match< Alot of the individuals on this blog throw around mind blowing numbers to me when they talk about 200K salaries bonuses ect, Finance, Acctounting, business Mangament maybe Yes, In a research field, I work with Phd's with 10 + experience that make 135K, When I graduated college 25 years ago I had offers from 3 companies before graduation, If I had not chosen to go to school I had options. Some of my friends that were not what you may call college material were buying homes working $12-13 an hour jobs. Today an entry level position in my dept with a masters gets you a little over 50K but the glass ceiling will kick in at less than 100K maybe not a min wage job but still a far cry from the numbers that get thrown around this blog. and that is IF you get the open position. Last open position in my dept. 250 applicants for 1 job where do the other 249 get jobs?? My friends daughter has a degree in biochemistry (not exactly a lib arts degree) She is working at a dairy queen because she could not get a job in her field. The thing that bothers me about many of the comments on this blog is not about success of an individual, (I'm for creation, I for success,). It is about the total lack of empathy, The I got mine F_U attitude. Very few people including I bet some of the bigger money earners on this blog are truly self made, That statement Especially rings true for those sitting in corp management positions, They may have worked hard but somewhere, sombody cut them a break, The generation of managers running the show today are so F+=ing self absorded that they don't take the time to think or appreciate the fact that workers are the morter holding up their offices in the sky Take the cheapest way out to maximize profits now and screw the next generation
Grim I know a few in the food industry I’ll run something by them and see if they know anyone. assuming it is your future gin mill.
Wrong one, that’s anon.
grim says:
June 24, 2014 at 12:04 pm
How much crack did you smoke today?
Charles C. Johnson @ChuckCJohnson 1m
Tonight you will hear a lot of DC, NY people who have never been to Mississippi suddenly experts on Mississippi. Don’t be fooled. #mssen
Grim, I know a guy who runs a flavorings business as a small company, I don’t know about his biochemical background.
Federal charges in the bridge closures potentially include both intentional interference in interstate commerce and — in the cover-up that ensued — obstruction of justice. The use of Port Authority money, raised by issuing bonds, to pay for non-PA projects will likely result in charges of securities fraud and conspiracy to commit same; the U.S. Securities and Exchange Commission is also investigating on this front, along with the Manhattan District Attorney, who’s seeking evidence to support state charges of falsifying business records and official misconduct. Charges derived from David Samson’s numerous conflicts of interest while serving as a PA official could, in Hoboken’s case, include federal charges of extortion under the Hobbs Act, and New York state charges of official misconduct and corruption.
The clearest, quickest road to Christie, both sources agree, runs through David Samson, a former Attorney General of New Jersey who’s 74 years old and reportedly suffers from Parkinson’s disease. So: Will Samson flip?
“They’ve got him cold,” says one source. “He got sloppy, arrogant, and greedy. Samson will want a deal. This way, he’d get one or two years. He’d have a future on the other side. He won’t want to die in jail.”
http://www.esquire.com/blogs/politics/christie-investigation
Damn, you are good!
I went on my honeymoon 09. Went to 3 islands in Hi for 2 weeks. Spent around 10,000.
grim says:
June 24, 2014 at 12:52 pm
46 – In the 2010s it’s a $10,000 two week vacation on an exotic island, preferably one in the Pacific.
#53
If something sticks — which I doubt since Wildstein supposedly had the goods too — then clearly the mistake these guys made was stealing from Wall St. If it was a plain old taxpayer rip off, it wouldn’t get a second look.
I’m no fan of the fat man, but I’m still not convinced he knew about bridge gate. It’s simply way too amateur.
Phoenix, you have some great posts. This post really brings to light just how bad human beings exploit one another. Pretty sad. You are right, it’s not a competition, it’s exploitation.
phoenix says:
June 24, 2014 at 12:26 pm
33. Michael, not competition, it’s exploitation.
The USA was founded on slavery. You cannot do that anymore. But if you can convince someone to work for free, hey, they had a choice, therefore it’s not slavery.
The youth are the biggest targets as they are have faith in the adults and have not yet developed cynicism yet.
So the adults exploit them. In every way. Marketing, Finance, Sex, false promises.
Market crap to kids when they are little.
Tell them that basket weaving is a real career, go get a student loan and you will be rich.
Oh by the way, I am an adult and can file for bankruptcy for almost anything, but your student loan WILL NEVER be dischargeable in bankruptcy, f*** you, pay me, and pay me alot in interest.
You are a new teacher, fireman or cop, I am a retired one, I get my pension, please buy my overpriced house and refill my pension coffer, but you don’t deserve one. Earn it first. By the way I am taking 100x the amount I put in, and you get to pay it back.
Come here, 20 year old girl, I am a 60 y/o man with a wife and if you want a job come sleep with me. Notice the old goat’s don’t seem to put in the same effort to pick up a 60 y/o chick.
They are all criminals. Guess who the public serpents in Montklair buy their healthcare from? I’ll give you a hint…it’s not the state insurance pool that almost every state worker has their coverage through. Why it’s Joey D’s brother! Baa, baa.
I don’t think they get the fat man on Bridgegate. I think they get the other guys running scared enough to deliver the goods to get him on something else.
“And Wildstein and Baroni have both turned on Samson. If Samson doesn’t give Fishman Christie, Samson is toast.”
one can hope
Ah Deblasio he loves mediocrity in the name of diversity doesn’t he? Last I checked the Asians were one of the smallest minority in NYC yet he want to cut their ranks at Bed Sty and BHS.
http://www.bloomberg.com/news/2014-06-23/de-blasio-seeks-to-alter-entry-plan-for-nyc-elite-schools.html
Rats on a sinking ship, Joyce. Unfortunately there are plenty of rats and ships to be sunk on both sides of the aisle.
re: # 59 – It was Christie himself who actually announced Samson’s resignation from the Port Authority. I would say there is no love lost between those two, especially if he was forced to resign.
They are also investigating “Wolff & Samson” not just Samson. There is a revolving door from the PA to Woff & Samson and jobs in NJ Government all tied in with lobbying $$$.
Plenty of Rats…..
RON PAUL: ESTABLISHMENT ‘PANICKING’ THAT MCDANIEL MAY BECOME US SENATOR
BILOXI, Mississippi — Former Rep. Ron Paul (R-TX), a 2012 presidential candidate and one of state Sen. Chris McDaniel’s big name endorsers over Sen. Thad Cochran (R-MS), told Breitbart News in a phone interview that he thinks the Washington, D.C., political establishment is “panicking” now that McDaniel may win his runoff on Tuesday.
“They’re panicking, I guess,” Paul said when asked about how the National Republican Senatorial Committee (NRSC), at the direction of Mitch McConnell, raised more than $800,000 for Cochran in one night, while former New York City mayor Michael Bloomberg has pumped a quarter million into Mississippi on Cochran’s behalf.
“But I think it’s a sign of what’s happening and how desperate they are,” Paul said. “I don’t think the money does him any good, but I think what happens is when all these people come in like Bloomberg it makes the case for our side because Bloomberg has a tremendous political image.”
#43…
Listen, I was just going through a philosophical process. I was just questioning why we work so hard? We have one life to live.
There’s the quote from John Adams on why he studied war and politics…
While it is a bit fuzzy in my case — my work and play are pretty much mixed up. Of course, hard work translates to some financial or job security incentives. Also, I want to work hard now so that at some I can work smart some day in the future! Or the kids can have enough money when they grow up so they won’t feel insecure…
There is a painful sacrifice. It’s worse than screwing up the “just one life to live”… the window for the kids to experience a nice childhood is much shorter.
Junk Bonds hit an all time low in yield today. I pulled this one up for fun. Rated CCC and the retail yield is 4.954 percent. YES under 5% yield on a CCC rated bond!!!
382410AF5 GOODRICH PETE CORP SR NT 8.87500% 03/15/2019
Price 106.252 Price 106.998
Qty(min) 93(5) Qty(min) 126(5)
Yield / Type 5.964 / W Yield / Type 4.956 / W
Moody’s Rating CAA1
S&P Rating CCC
JJ – and the Fed still isn’t selling their Junk.
The Fed will never sell their junk. The mere fact when they stop buying and allow portfolio to enter “run-off” will shock market. Plus what is need to sell. For instance tons and tons of small investors own Puerto Rico Muni Bongs when the bonds credit rating fell significantly and yields spiked many broker dealers declared them unsuitable investments for small investors so they dont recommend them. However, hardly any investors sold them instead they entered a run off their own, coupon clipping and letting bonds mature.
67.Juice Box says:
June 24, 2014 at 4:33 pm
JJ – and the Fed still isn’t selling their Junk.
#61, Well if DeBlasio’s goal is more “diversity” then he needs to do something because having Asians amount to 73% of the student body when they only represent 15% of the city’s population is not balanced or diverse.
Not sure how I feel about this, will have to mull it over. On the one hand, using this one test is a very meritocratic way to decide who gets in, but on the other hand, seems like other factors ought to be considered (GPAs, extracurriculars, maybe interview the kids to assess any unique backgrounds/special hardships) … you don’t want a whole school of kids who can only test well and do nothing else…that’s actually a big problem for Asian’s in wall street, very smart but can’t communicate well/play well with others and thus don’t end up getting all the way to the top, they seem to plateau earlier. Emotional intelligence is just as important…gotta be able to read a room and react accordingly.
Gator,
Right. I’m still just going to hope as I think the corruption is so encapsulated at this point nothing will be done. Investigations can stall, prosecutions can as well, slap on the wrist plea bargains, judges suspending sentences… or maybe just a fine, etc etc.
Ccb223- Where does it end? Next time you need a surgery? Who cares if your Doc got in to Med School even though he failed the MCAT?
#68 – 40 trillion dollar bond Market goes boom at the first sign of higher rates. Rush for the exits in the bond market should be interesting.
Bond market sell off means equity run up, you think this market has room to run?
[71] juice,
Where do you think the Obamacare docs will come from?
Seriously, the barriers are being lowered as we speak. Docs that wouldn’t be allowed to work here 10 years ago will be treating you in the ER. My last attending looked like a HS cheerleader and had a heavy Slavic accent. She got her medical degree in Kazakhkstan. No lie.
Anyone ever research pure plays for video security systems? I predict that this will be a banner business with virtually every restaurant chain requiring installation to combat social media-inspired fraud.
http://www.cnbc.com/id/101786370
Oh, and is expect dash cams will be a factory installed option on all major makes in five years, max.
Methinks the opposite for stocks, peak buyback remember? Leverage goes away for the stock markets once the fortune 500 can’t borrow cheaply. End of times clot senario? Currency reset more likely. Shocks from the 70s come to mind.
Interesting read on the bond bubble from an ex – Fed employee.
http://fivethirtyeight.com/features/the-potential-bubble-the-federal-reserve-cares-most-about/
Nom- Google bought NEST and will be making a video camera play. Internet of everything…I was at a 12k sq ft home the other day taking shop with some smart guys, they seem to be investing already.
http://www.forbes.com/sites/parmyolson/2014/06/24/google-nest-smart-home-internet-of-things/
This comment resonates some of my earlier thoughts. I thought automation was supposed to make life better…what happened?
“Joby Elliott
Well, if we could change our attitudes towards work a little bit, the fact that it takes significantly less work from humans to keep society humming along could be a GOOD thing.
My (admittedly off the cuff) thought would be to tax businesses that employ high levels of automation, and use that money towards establishing minimum incomes. That way we can all, as a society, enjoy a spectacular social safety net thanks to the highly related FACT that automation has made keeping society running so much easier.
The dream was automation letting us all live lives of leisure, working 20 hour weeks, or even less, while robots did all the cleaning and boring work. Somewhere along the way though that dream got hijacked, and now automation has led to us all fighting each other tooth and nail over the remaining jobs so that we can work even longer hours for even less pay, while our bosses laugh all the way to the bank.
What happened, humanity?”
http://fivethirtyeight.com/features/your-new-fast-food-worker-a-robot/
[12] grim – Double-edged sword? The numbers show that those who achieve higher levels of education are less likely to be unemployed. Perhaps the market just chooses the best conditioned debt slaves?
2013
Doctoral Degree – 2.2% UE
Professional Degree – 2.3% UE
Master’s Degree – 3.4% UE
Bachelor’s Degree – 4.0% UE
Associate’s Degree – 5.4% UE
Some College, No Degree – 7.0% UE
High School Diploma – 7.5% UE
Dropouts – 11.0% UE
Overall – 6.1% UE
We can laugh at the liberal arts graduate idiots with their useless degrees, but the fact is, on aggregate, education has a strong impact on employment.
grim – Sounds like you’re looking for my girlfriend from 30 years ago and her eventual husband. Both have Masters in Biochem and spent much of their careers (both earning numerous patents) at IFF (International Flavors and Fragrances). I’m Facebook friends with my old gf, but I don’t think either of them work for free, plus they have three daughters spaced two years apart, the first starting college this fall.
grim says:
June 24, 2014 at 11:22 am
Any chance someone knows an extremely motivated chemist with a background in flavor chemistry and a good enough biochem background to understand yeast and fermentation?
No pay, in fact if you want in, you will need to contribute startup funds and work hours in exchange for a partnership position.