From the APP:
Find out why retirees are leaving NJ
Charles Joseph would like to stay in New Jersey, but he might be priced out of the state.
The 67-year-old Clinton Township resident said all he hears is that people his age can’t afford to stay in New Jersey on a fixed income.
“I would like to stay here, but its becoming more expensive, especially real estate taxes,” he said. “I would rather not move, but I don’t know what the financial situation is going to be.”
Half of New Jerseyans would like to retire elsewhere, according to a Monmouth University/Asbury Park Press poll, which surveyed 802 adult residents from Sept. 17 to 21. More than a quarter of those surveyed consider it very likely that they will actually move. Cost of living and taxes remain the driving factors for those wanting to flee upon retirement, with more than a third of participants concerned about their savings.
“If I can afford to stay here I would,” said Joseph Kuspiel, of the Sewaren section of Woodbridge. “I’m content here. I have no problems here as long as the taxes don’t go crazy. I have no real problems.”
If large amounts of people of retirement age leave the state, New Jersey will gradually experience a difficult time making economic ends meet. An exodus of retirees would mean the loss of income taxes from their pensions and sales taxes from their spending at businesses within the Garden State. Combined, those factors paint a grim picture for those left behind.
“That means less state revenues for other programs that may be valuable to New Jersey citizens,” said James Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University in New Brunswick.
But New Jersey’s options to fix the situation remain scarce. The Garden State’s budget fell short by $800 million last year. The state only balanced its budget this year after Gov. Chris Christie slashed the Garden State’s contribution to a pension fund for public workers.
“We don’t have a lot of wiggle room to adjust our tax system as it is since we’re short of revenues,” Hughes said. New Jersey’s “not going to change that destiny very much. We are going to lose some affluent seniors, middle-income seniors and the like.”
Retire in NJ, and allow the commissar to strip you of whatever wealth you might still have.
There’s a reason that PA is second behind FL as a retirement destination.
First, second and third, mf’er!!!!
any questions?
“”” A Circuit Court judge in Virginia has ruled that fingerprints are not protected by the Fifth Amendment, a decision that has clear privacy implications for fingerprint-protected devices like newer iPhones and iPads.
According to Judge Steven C. Fucci, while a criminal defendant can’t be compelled to hand over a passcode to police officers for the purpose of unlocking a cellular device, law enforcement officials can compel a defendant to give up a fingerprint.
The Fifth Amendment states that “no person shall be compelled in any criminal case to be a witness against himself,” which protects memorized information like passwords and passcodes, but it does not extend to fingerprints in the eyes of the law, as speculated by Wired last year.
“Judge Steven C. Frucci ruled this week that giving police a fingerprint is akin to providing a DNA or handwriting sample or an actual key, which the law permits. A pass code, though, requires the defendant to divulge knowledge, which the law protects against, according to Frucci’s written opinion.”
The ruling stemmed from a case involving David Baust, who was accused of strangling his girlfriend. Prosecutors believed Baust may have stored video of the attack on his phone, and requested that the judge force him to unlock it. If protected by a passcode, Baust will not be required to unlock his phone under the Fifth Amendment, but if protected with a fingerprint, he could potentially be forced to unlock the device.
If Baust’s phone is an iPhone that’s equipped with Touch ID, it’s very likely that it will be passcode locked at this point and thus protected by law. Touch ID requires a passcode after 48 hours of disuse, a restart, or three failed fingerprint entry attempts, and the device has probably been in police custody for quite some time. It is unclear if the judge’s ruling will have an impact on future cases involving cellular devices protected with fingerprint sensors, as it could be overturned by an appeal or a higher court. “””
http://www.macrumors.com/2014/10/31/fingerprints-not-protected-by-fifth-amendment/
Article in the today about this. Who would want to hurt a real estate agent? OK maybe Gary http://www.newsobserver.com/2014/10/30/4277817/new-self-defense-class-targeted.html?sp=/99/104/
MY inlaws are retiring and want to move here to be near their grand children. They were advised to rent here and retire to a low tax state by their advisor. Sound advise.
Just get it over already and make ole Rev Al the commissioner of the NYPD
http://nypost.com/2014/11/02/citys-first-lady-not-happy-with-bill-bratton/
The other half live with their parents and haven’t given it much thought.
“Half of New Jerseyans would like to retire elsewhere”
9 – zing!
So are the Jets mathematically eliminated from the playoffs yet? Saw Mark Sanchez had a pretty good game for Philly. Green suits him somehow.
JJ, despite your awesome investing prowess, and all around manliness, your Jets tickets look to be a poor investment. Perhaps you should suit up to inspire them?
Was talking to a nurse last night and she was telling me how all the kids in her kids’ middle school were talking about Zombie Apocalypse for Halloween.
My first thought was about Clot and how excited that would make him.
Here’s a nugget for Joyce, and for all of us “gun nuts” on why you cannot rely on the police:
http://seattletimes.com/html/localnews/2024924914_westneat02xml.html
I’ve said elsewhere that cops in major cities today are no good for anything except riot control, taking statements, and drawing chalk outlines.
@pmarca: During a market bottom, explanations for why and how recovery will never happen become ever more elaborate & widely believed.
@thegreatzone: @pmarca fear is a hell of a drug.
Some kind of wicked stomach bug going around? Was hit by a bus last night.
True story. That’s why people believe the economy and housing market will never return and that wage inflation will never happen again. I don’t believe that bs for one second.
anon (the good one) says:
November 3, 2014 at 8:00 am
@pmarca: During a market bottom, explanations for why and how recovery will never happen become ever more elaborate & widely believed.
@thegreatzone: @pmarca fear is a hell of a drug.
……. Ebola
“Riot control” AKA crushing dissent and challenges to our corporate overlords and their political lackeys.
Here’s a nugget for Joyce, and for all of us “gun nuts” on why you cannot rely on the police:
http://seattletimes.com/html/localnews/2024924914_westneat02xml.html
I’ve said elsewhere that cops in major cities today are no good for anything except riot control, taking statements, and drawing chalk outlines.
The coal ash watered, fracked landscaped, unregulated neighbored libertarian paradise is always greener on the other side.
“Half of New Jerseyans would like to retire elsewhere”
Wow, that makes me sick. What a joke.
Ottoman says:
November 3, 2014 at 8:26 am
“Riot control” AKA crushing dissent and challenges to our corporate overlords and their political lackeys.
Here’s a nugget for Joyce, and for all of us “gun nuts” on why you cannot rely on the police:
http://seattletimes.com/html/localnews/2024924914_westneat02xml.html
I’ve said elsewhere that cops in major cities today are no good for anything except riot control, taking statements, and drawing chalk outlines.
http://www.youtube.com/watch?v=A6XoMNMDlQc
Another major NJ corp gets its HQ relo-ed to NC
LabCorp to Buy Covance for About $6.1 Billion
#15….had something for 12 hours Friday after I ate out, assume food issue but maybe not…hurt from about 2 in pm till I ate b fast next morn….
I dumped nearly all of my Jets tickets already. Not planning on going to anymore games. Right now no one is going to go see the Jets so it depends on team they are playing. Cheapest seat for Steelers on Stubhub is 75 right now for a last row Dead Center UD End zone seat which has a face of $50. Steeler fans are buying the seats not Jets fans.
Last game of Season Pats prices are holding up.
The Monday night Dolphin game is a slaughterhouse, Dolphins fans are cheap and dont even sell out own stadium and it is a night game last in year. Those tickets are worthless.
Parking Passes however, are big sellers. They always go for double face even for horrible games.
At end of season I will try to pick up some more season tickets, I have a pair in UD prime row one around 45 yard line with a 110 face that pair always sells. Yep high up in sky, but first row 45 yard line.
Comrade Nom Deplume, a.k.a. Captain Justice says:
November 3, 2014 at 7:04 am
So are the Jets mathematically eliminated from the playoffs yet? Saw Mark Sanchez had a pretty good game for Philly. Green suits him somehow.
JJ, despite your awesome investing prowess, and all around manliness, your Jets tickets look to be a poor investment. Perhaps you should suit up to inspire them?
Just like the article stated, I will be out of here in due time. Several years, hopefully. I have a house to be built in Sarasota County, Fl. Will sell my house in Hunterdon, close to that Clinton couple. I will screw NJ as much as I can, as I also have a business and income properties to sell in this state. The income properties will go Section 1031.
Only RE I will have left in this state are my wife’s and my grave plots. Church property. Hope NJ won’t tax that.
BTW. I believe a survey of NY state residents was done several months ago and 65% wanted out.
Otto,
It’s gotta be really hard to swallow seeing how progressive politics has turned the blue state of NJ into a pit. It’s really to bad that we don’t have giant corporate tits to suck on like Seattle and San Francisco does.
In your mind major companies.
chicagofinance says:
November 3, 2014 at 9:20 am
Another major NJ corp gets its HQ relo-ed to NC
LabCorp to Buy Covance for About $6.1 Billion
One kid in my son’s class is moving out to Bucks County PA in three weeks. They have plenty of money and can afford continuing to be extorted to keep all those NJ public workers paid like army generals, but they have chosen a home twice the size, on twice the land with about 2/3rds of the tax bill. The schools are excellent and both parents are self employed. There goes more NJ tax revenues. But lets keep throwing our money to the poor and taxing the businesses that provide us with jobs more and more to pay for those who barter their SNAP for booze and cigarettes.
I would love to see a study performed that showed the impact of the increase of tax dollars funneled to Newark City Schools had any affect whatsoever on test scores. And if so, how much?
Libtard, no effect whatsoever. In Jersey City there is a reason only magnet and charter schools get results. They can kick out the kids who cause trouble or the parents who aren’t involved. Even the poorest students who manage to stay do far better in the parochial schools, charter schools, or magnet schools. Why? Because the either the kids or their parents want them to be there and they work hard and behave as a result. The other schools are black holes and most of the money goes to political hacks. Better results for between 1/3-2/3 of the spend per student. Money can’t fix stupid and won’t motivate children or make parents involved.
Back to work for me as the first workday of the month is always super busy for me as I have to create a ton of reports for the execs who serve no purpose according to Otto, but not before I link to an interesting interview.
http://finance.yahoo.com/news/4-economy-possible-election-welch-133157274.html
And remember everyone…tomorrow is election day. Vote early, and in the case of the Dems in NJ, vote often…even if you aren’t alive.
I went to see this one over the weekend. It looks beautiful, doesn’t it? This is why you visit them. Again, it’s like online dating; they never look like the pictures. Let me see if I could list some of the issues with this one: Original bathrooms from 1965, equipped with mold and disintegrated caulking; rot around the windows; holes in a few interior doors; the place had a nauseating odor; moldings were cracked and peeling; walls were dirty, gouged and didn’t see paint in decades; the roof line was rotting underneath around the perimeter of the house, exterior wooden fences were cracked with green mold, the siding on the house was peeling and cracked; there were two dog bowls filled with mud in an outdoor pen that was getting covered in slime; there was an abandon Koi Pond and the refrigerator in the kitchen was plugged in with an extension cord to a counter outlet.
These are just the things I could remember for $699,000. The agent was silent and just sighed occasionally. These sellers, these f.ucking p1g sellers had a 720K cash offer months ago on a 765K original list price and turned it down. I want to meet the buyers who offered this price. Astonishing. There’s really nothing more to say.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1420154&dayssince=&countysearch=false
“Better results for between 1/3-2/3 of the spend per student. Money can’t fix stupid and won’t motivate children or make parents involved.”
That is my point. Having lived it and witnessed it first hand. The kids at St. Anthony are students. You could pay the kids at Dickenson to go to school and they still wouldn’t. Can’t tell you how many kids I saw smoking pot on the way to school (if they actually went). It was the right time of day when would walk past my row house, but never did they even have a backpack.
But lets keep throwing our money to the poor and taxing the businesses that provide us with jobs more and more to pay for those who barter their SNAP for booze and cigarettes.
Push button, get booze and cigs.
Well said.
jcer says:
November 3, 2014 at 10:01 am
Libtard, no effect whatsoever. In Jersey City there is a reason only magnet and charter schools get results. They can kick out the kids who cause trouble or the parents who aren’t involved. Even the poorest students who manage to stay do far better in the parochial schools, charter schools, or magnet schools. Why? Because the either the kids or their parents want them to be there and they work hard and behave as a result. The other schools are black holes and most of the money goes to political hacks. Better results for between 1/3-2/3 of the spend per student. Money can’t fix stupid and won’t motivate children or make parents involved.
Sad, but that’s why they should not make an education available to anyone. If you can’t pass, you can’t continue to get a free education. Wish some politician had the balls to put this kind of legislation through, too bad it would never happen. Better yet, make a law forcing parents to be parents, but that’s just political suicide.
Libturd in Union says:
November 3, 2014 at 10:07 am
“Better results for between 1/3-2/3 of the spend per student. Money can’t fix stupid and won’t motivate children or make parents involved.”
That is my point. Having lived it and witnessed it first hand. The kids at St. Anthony are students. You could pay the kids at Dickenson to go to school and they still wouldn’t. Can’t tell you how many kids I saw smoking pot on the way to school (if they actually went). It was the right time of day when would walk past my row house, but never did they even have a backpack.
They will be back. There is a reason it is cheaper in Pa. I hate when people say it’s similar to jersey. It’s not similar to jersey at all, with the biggest difference being that it’s nowhere near nyc.
Libturd in Union says:
November 3, 2014 at 9:56 am
One kid in my son’s class is moving out to Bucks County PA in three weeks. They have plenty of money and can afford continuing to be extorted to keep all those NJ public workers paid like army generals, but they have chosen a home twice the size, on twice the land with about 2/3rds of the tax bill. The schools are excellent and both parents are self employed. There goes more NJ tax revenues. But lets keep throwing our money to the poor and taxing the businesses that provide us with jobs more and more to pay for those who barter their SNAP for booze and cigarettes.
I would love to see a study performed that showed the impact of the increase of tax dollars funneled to Newark City Schools had any affect whatsoever on test scores. And if so, how much?
Michael,
They will be back. There is a reason it is cheaper in Pa. I hate when people say it’s similar to jersey. It’s not similar to jersey at all, with the biggest difference being that it’s nowhere near nyc.
They’ll return when wage inflation hits, right?
22- From Wall Street Journal : LabCorp Chief Executive David P. King will continue to serve as CEO and chairman of the combined company, while Covance CEO Joe Herring will head up the Covance division. The corporate headquarters will remain in Burlington, N.C., where LabCorp is currently based, while Covance’s headquarters will remain in Princeton, N.J
Nah, they will be back when tax inflation hits pa and leaves it with taxes similar to nj.
Fast Eddie says:
November 3, 2014 at 10:38 am
Michael,
They will be back. There is a reason it is cheaper in Pa. I hate when people say it’s similar to jersey. It’s not similar to jersey at all, with the biggest difference being that it’s nowhere near nyc.
They’ll return when wage inflation hits, right?
“They will be back. There is a reason it is cheaper in Pa. I hate when people say it’s similar to jersey. It’s not similar to jersey at all, with the biggest difference being that it’s nowhere near nyc.”
What is there to look forward to here? Seriously. If you don’t work in the city, not much. The pizza and bagels are better. Great. The traffic is horrible. Our cities are crime infested. Our infrastructure is in peril. Our commutes are horrific and our taxes are truly out of control. And we are not even paying for the pension contributions. People are generally rude around here too. I swear, one of these days I am going to purchase a beater car and step on it once my light turns green when the opposite left turn lane had a green arrow that has turned red.. In my Civic (stick) I could rev the engine and scare the krap out of those @ssholes, but both of our cars are newer and automatics. On the bright side, Gator is looking for a government job again.
How do you know how much per year the person who bought their house in NJ makes?
My broke dick neighbor moved out like three years ago as his house fell in value and his taxes were high and could not keep up. A couple with double the income bought it, the old owner lost like 100K on the sale.
Libturd in Union says:
November 3, 2014 at 9:56 am
One kid in my son’s class is moving out to Bucks County PA in three weeks. They have plenty of money and can afford continuing to be extorted to keep all those NJ public workers paid like army generals, but they have chosen a home twice the size, on twice the land with about 2/3rds of the tax bill. The schools are excellent and both parents are self employed. There goes more NJ tax revenues. But lets keep throwing our money to the poor and taxing the businesses that provide us with jobs more and more to pay for those who barter their SNAP for booze and cigarettes.
I would love to see a study performed that showed the impact of the increase of tax dollars funneled to Newark City Schools had any affect whatsoever on test scores. And if so, how much?
[31] gary – And the real irony is that house sold brand new in 1965 for double it’s current tax bill.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1420154&dayssince=&countysearch=false
Moving to PA makes no sense to be honest. In my little condo complex I noticed we have tons of snow birds, some have condo in a LLC or trust or something. They have Florida as their legal addess. As long as you have a inexpensive bear bones coop or condo up her to stay in five months a year Florida makes perfect sense. Many even have winter tenants up here. Which cover 100K of cost of condo. You would go nuts in Florida from May though Sept like you would go nuts in PA from Sept to May. Plus PA has state income tax.
ExPat,
Two agents were present at the house; both were hanging their heads in embarrassment and shame. Their responses were sullen and practically whispers. I receive outright apologies in emails from agents for the lack unspectacular inventory.
I question the 720K cash offer, though. Who in the right mind would want to purchase that house with that kind of dough? Anyone that has earned that money would not squander it in that manner.
The bottom line is I’m officially done. I’ll just stay where I am and call it a day. It’s so bad that I’m not going to see a normal market for the rest of my working career.
Stu is right; this State has become a f.ucking mess.
“Silicon Valley is making a mark in Washington as Google has recently replaced Goldman as the largest lobbyist, but until recently, most of the money in from Silicon Valley went to democratic candidates. In 2014, that has changed, and Republicans are getting most of the money. Why the change? Gordon Crovitz suggests it’s because Harry Reid blocked patent reform. Reid gets a large chunk of donations from trial lawyers, who oppose the reform.”
Red team vs blue team, the green team wins always.
Grim [15];
Enterovirus?
I think jersey traffic has actually gotten better in the past couple years. A lot of these construction projects have made it a lot better….can’t wait till they upgrade the 46/rt3 bottleneck. You think jersey traffic is bad, try going to these other places attracting people at too fast a rate. Single lane roads not able to handle the amount of people using the road.
Libturd in Union says:
November 3, 2014 at 10:49 am
“They will be back. There is a reason it is cheaper in Pa. I hate when people say it’s similar to jersey. It’s not similar to jersey at all, with the biggest difference being that it’s nowhere near nyc.”
What is there to look forward to here? Seriously. If you don’t work in the city, not much. The pizza and bagels are better. Great. The traffic is horrible. Our cities are crime infested. Our infrastructure is in peril. Our commutes are horrific and our taxes are truly out of control. And we are not even paying for the pension contributions. People are generally rude around here too. I swear, one of these days I am going to purchase a beater car and step on it once my light turns green when the opposite left turn lane had a green arrow that has turned red.. In my Civic (stick) I could rev the engine and scare the krap out of those @ssholes, but both of our cars are newer and automatics. On the bright side, Gator is looking for a government job again.
Lib (28):
The people you speak of were my former neighbors and the mom was an early poster to this board. She went by the name “electric sheep”.
To me it all comes down to the monthly…..what is the total cost of ownership and are you getting your money’s worth…..
Gary,
I am with you. There is nothing even worthy of a lowball from what I can see. The amount of overpriced or reheated sh*t is an all time high. Complete stall in CT, sellers not dropping price and buyers not taking bait as next bagholder. Unreal.
All Hype:
It’s a small world. Are you still in touch with them? We went trick or treating with them on Forest Avenue.
Love the house with the keg and hotdogs.
Wealth Management (clot Edition):
Stun Gun
A former Wedbush Securities advisor took greed to a whole new level when he murdered his friend and client to gain $8.9 million, according to authorities.
A California judge sentenced Kent Keigwin to life in prison in January 2012, after a jury convicted the former financial advisor of killing retired biotech executive John Watson.
According to prosecutors, on June 8, 2010, Keigwin tasered Watson at the front door of his apartment in La Jolla and then strangled him. Watson’s body was found two days later.
A day after his death, authorities discovered Keigwin transferred $8.9 million from one of the victim’s investment accounts into a new account controlled by the Wedbush advisor.
But Keigwin returned to the apartment, according to prosecutors, as police and lab technicians were processing the scene of the crime. A detective noticed Keigwin’s face had red splotches, scabs and scrapes. When police searched Keigwin, they found keys to Watson’s apartment, three plastic bags, a flashlight, and a dust mask. In addition, prosecutors say police found Keigwin’s DNA under Watson’s fingernails, suggesting the two men had struggled.
In addition to the first-degree murder, Keigwin was also charged with five other felonies: two counts of identify theft, attempted grand theft, burglary, and forgery.
For anyone planning on voting tomorrow, try looking at the sole video debate between Corey Booker and Jeff Bell.
You can’t. It’s been deleted from the CSPAN site and the ABC affiliate that claims rights to the video isn’t returning calls to the League of Womens voters (the debate sponsor), The Bell Campaign, or the Star Ledger’s Paul Mulshine.
AFP-New Jersey @AFP_NewJersey 30 minutes ago
This sign at TBack Zoo cost taxpayers $180,000 in open space $! And now Trenton wants billions more?! #VoteNoOn2! #NJ
https://twitter.com/AFP_NewJersey/status/529316073800101889/photo/1
I like this comment I read this morning that showed Booker is not a sure thing, though I expect him to win handily.
Looks like dead people are not able to vote in online polls
“The bottom line is that our planet is warming,” Secretary of State John Kerry said in a statement on Sunday — the same day he braved the cold and and the snow to watch the New England Patriots play football in his home state of Massachusetts.
Sunday’s snowstorm in Foxborough was the strongest early-November snowstorm in over a century. Groundskeepers had to clear the field before the Patriots could play.
“The bottom line is that our planet is warming due to human actions, the damage is already visible, and the challenge requires ambitious, decisive and immediate action,” Kerry said in a statement released earlier on Sunday. He was reacting to the Intergovernmental Panel on Climate Change’s latest climate assessment.
Those who disagree with his position on climate change are “stuck in a debate over ideology and politics,” Kerry said, adding that “[t]hose who choose to ignore or dispute the science so clearly laid out in this report do so at great risk for all of us and for our kids and grandkids.”
Kerry also warned of a “large-scale disaster” if the threat of global warming is not addressed.
On the same day the State Department released Kerry’s statement, a “record-breaker” nor’easter slammed into Massachusetts, bringing with it “the most snow recorded on any Nov. 2 in 120 years,” the Boston Globe reported.
The Wonderful World of Disney (JJ Edition):
Girl catches Tigger having ‘full on sex’ in public bathroom
By Ian Horswill
A man in a Tigger costume like this one was caught doing some very kid-unfriendly things in a baby changing room.
Tigger, the Disney cartoon character, was seen by a 3-year-old girl having “full blown sex” in a baby changing room.
A man wearing the costume was seen having sexual intercourse with a naked woman in the toilets in the town of Dawlish in Devon, UK, reported Exeter Express and Echo.
The “disgusting act” was posted by Maryanne Saunders on Dawlish Neighbourhood Police’s Facebook page. She called the police to report the incident.
Saunders said her daughter took her granddaughter to the toilet.
“There was a couple in the baby changing room having full blown sex,” she wrote on Facebook.
“They slammed the door in my granddaughter’s face and caught her hand in the door resulting in bruising to her fingers.
“This is a disgusting act and in a baby changing room.
“They were about 30ish, the man had a Tigger outfit on, the woman was undressed.
“It’s not very nice for a 3-year-old child.”
Oh bother.
@SenSanders:
After all the lies, obfuscation and distortions, here is the Republican national agenda: http://t.co/UsCrpksDQJ
Zombie voting
http://www.dailymail.co.uk/news/article-2818443/James-O-Keefe-s-video-shows-North-Carolina-poll-workers-offering-ballots.html#v-3871868533001
Lib (51):
The wife and I are still friends with the family. I am really bummed that they are moving to PA. It is good for them as her family is from out there. I doubt that they would move back to NJ because of the taxes although they really like Glen Ridge.
I will try to see them before they move.
It is too bad that you all did not trick or treat one street over to North Willow they used to live. I was at home givng away candy after 4:30. Just a FYI, visit Montclair Avenue next year. That is where everyone goes. People drive to the street and let the kids out to collect candy.
I know Montclair Avenue as my multi is on Christopher Street. We went there for years. The book house is old hat. Another interesting block is Adams in the South End. Lots of little homes packed tightly together and many adult drinks to be had.
Their new house is gorgeous. Gator sent me a picture. It may be three times the size of their current home and the town is nice too. Honestly folks, I love Glen Ridge and have tons of Jersey pride, but the corruption is endless. The double dipping, the development deals for political friends, the whole Port Authority, the county government. It’s all one giant joke. And sadly, the progressives want to keep upping the anti for our government services without looking at how towns in other states do the same for 1/3rd the cost. Keep on paying your local cops 100K plus overtime. Pretty soon, they’ll be the only ones living there.
Why bother with PA? If you are going to move, head right down to Texas.
Family members stuck in the People’s Republic of NJ would be in driving distance if you moved to PA.
Grim says:
November 3, 2014 at 1:18 pm
Why bother with PA? If you are going to move, head right down to Texas.
And the rally continues. All three indexes green. Again!
Chifi been think about LUK lately lots of bad press over Jeffries thing but some good bond yield stuff. What do you think?
Truthfully, Austin kind of rocks. If you can get past the prayer groups.
what’s “Pretty soon”, like in 100 yrs?
as much as you all like to complain, you all are staying put
Libturd in Union says:
November 3, 2014 at 1:05 pm
Pretty soon, they’ll be the only ones living there.
JJ,
Their gas is always the most expensive.
We’ll see Anon.
I may finish out my career here, but some country in Central America awaits me upon retirement. Sadly, I could probably retire now. But got to wait 15 more years for the little Devil to graduate high school.
Texas has a government. Head to Liberia to really avoid regulations
Grim says:
November 3, 2014 at 1:18 pm
Why bother with PA? If you are going to move, head right down to Texas.
Police arrest man who shot at car-prowler, car
http://www.komonews.com/news/local/2-would-be-robbers-shot-by-victim-in-S-Seattle-279666782.html
“The man who fired the shots waited outside the convenience store and surrendered his gun when officers arrived. Officers later said they arrested the man, who was not immediately named, because his response to the break-in went beyond self-defense, as he continued to shoot at the two men as they were fleeing the scene.”
i guess the fleeing felon ‘rule’ only applies if you wear a costume to work
Funny, they are a financial services company, Leucadia National.
Libturd in Union says:
November 3, 2014 at 1:23 pm
JJ,
Their gas is always the most expensive.
62. So you are saying what….?
Now, with Republicans poised to reclaim the Senate in Tuesday’s elections, Mr. Alexander may finally be in a position to change things. As the presumptive chair of the Senate committee that oversees education, he would control the reauthorization of the Higher Education Act, the major law governing student aid. Already, he’s drafted legislation to shrink the Free Application for Federal Student Aid, or Fafsa, and to reduce the overall number of student-aid programs. He’s formed a commission to identify redundant regulations, and he’s talked of “starting from scratch” on the reauthorization bill.
“My principal goal in higher education is to deregulate it,” the senator said in an email interview. (For more of my Q&A with Mr. Alexander, click here.)
That mostly pleases colleges, which look at his unusually strong résumé—including stints as a university president and as secretary of education—and see a rare Republican ally.
“He understands the burden of federal regulation because he was a college president,” said Sarah A. Flanagan, vice president for government relations and policy at the National Association of Independent Colleges and Universities. “He understands how much it is driving up college pricing.”
But not everyone is sold on the Alexander agenda. Financial-aid administrators worry that oversimplification could backfire. Student groups fear that fewer student-aid programs would mean less money over all. And critics say his opposition to President Obama’s college-ratings plan and “gainful employment” rule to regulate career colleges—which he would probably try to block—would give colleges a free pass on student outcomes.
“He’s clearly very smart and very engaged,” said Kevin Carey, director of the education-policy program at the New America Foundation. “He’s almost surely the most influential Republican in Congress when it comes to higher education.” (Mr. Carey has been a contributing writer for The Chronicle.)
But the senator “has become a chief defender of liberal college groups that want a lot of government money and no accountability for how they spend it,” Mr. Carey said. “That is an odd place for a conservative Republican to be.”
Source: http://chronicle.com/article/Lamar-Alexander-Wants-to/149807/
So how much is Cuomo going to win by on Tuesday? Landslide or close race?
Another interesting block is Adams in the South End. Lots of little homes packed tightly together and many adult drinks to be had.
I will remember that for next year.
Ben Roethlisberger has more TD passes in last two games than all Jets QBs combined in last 15 games.
#40 Stu… I dropped to see if Gator went to the new WTC building. I hope she is looking proactively and not forced to look.
I’m glad I wasn’t drinking my coffee. LOL
Oh bother.
[47] Michael
“Single lane roads not able to handle the amount of people using the road.”
You can find that here too, drive through Ridgewood around 5:30 PM.
Speaking of Single Lane Roads. Since the CEO of Apple is a big shot I would assume that is a single lane road. I would assume he never bites the pillow. If he did what is point of being a CEO?
POS cape says:
November 3, 2014 at 2:09 pm
[47] Michael
“Single lane roads not able to handle the amount of people using the road.”
You can find that here too, drive through Ridgewood around 5:30 PM.
JJ…Should have checked the symbol. Assumed Lukoil.
McDullard…Gator is looking proactively. It’s only been a week so far. There are some options brewing, but nothing too solid yet. I am not too concerned. Ask me again in four months and I might give you another answer.
Chi Fi…What’s your take on the upcoming Schwab Intelligent Portfolios? Thinking about rolling Gators old 401K into it if it opens soon or later if it doesn’t.
I see it opens 1st quarter 2015.
Rush hour will always have some type of traffic, but trust me, these other places have way worse traffic problems than nj.
POS cape says:
November 3, 2014 at 2:09 pm
[47] Michael
“Single lane roads not able to handle the amount of people using the road.”
You can find that here too, drive through Ridgewood around 5:30 PM.
http://finance.yahoo.com/news/first-time-homebuyers-hit-lowest-174625927.html
Don’t pop the champagne corks just yet, realtors! I wonder if this data includes millenials living in their parents’ basement?
Housing Demand on Hold as Millions Split the Rent
Why don’t you fire your resume into these guys? They can probably use a creative mind (and a shload of lawyers)….
http://www.bloomberg.com/news/2014-11-03/rcs-capital-terminates-pact-to-buy-cole-capital-from-arcp.html
jj says: November 3, 2014 at 1:20 pm
Chifi been think about LUK lately lots of bad press over Jeffries thing but some good bond yield stuff. What do you think?
[36] Michael,
“It’s not similar to jersey at all, with the biggest difference being that it’s nowhere near nyc”
You say it like its a bad thing.
Keeping my eye on that too, but within the brokerage account with banking feature for taxable account. They’ll do what Betterment/Wealthfront already do. Which Wealthfront tells you in the website if you don’t want them, than go to a Vanguard Target Date fund as next best option.
The killer app here is the trifecta of MPT Theory- set it and leave it alone, with Tax Loss Harvesting (Betterment does it with 50k/Wealthfront with 100k – don’t know what Schwab will required) within the brokerage account with CMA features that acts like a secondary checking account and you can buy Brokered CDs if you want full safety.
[47] Michael,
If you enjoy NJ, then by all means, stay there. I will never criticize someone’s choice to stay in NJ.
[87] Michael,
Traffic around here isn’t worse, at least not yet. But I see development continuing and road capacity growing far more slowly. In my neck of the woods, the only big project is the 202 expansion.
You sure? Knowing you, I think you would be uncomfortable with the loss of control. At least it would be a tax-deferred account….you don’t need a machine f-ing up schedule D…….it may be fine, but you don’t lose anything by waiting….why don’t you just dump the money into a Sch/Fid/TD IRA and be done with it…..the only hesitation would be whether you want to backdoor a Roth IRA contrib for 2014 and/or 2015, so it would be advantageous to keep the money in the 401(k) so it does not dilute the basis for the conversion from IRA to Roth…..
…also….I just found a low min HFT guy….$250,000….I have no business link to him, but we are colleagues…..let me know you if you want to grill him…..
Libturd in Union says:
November 3, 2014 at 2:25 pm
Chi Fi…What’s your take on the upcoming Schwab Intelligent Portfolios? Thinking about rolling Gators old 401K into it if it opens soon or later if it doesn’t.
Stu……
WEALTH EFFECT
The Case for ‘Alternative’ Investments
Exotic Strategies Can Benefit a Portfolio, but Can Be Tough to Put Into Practice
BRETT ARENDS
Oct. 31, 2014 1:49 p.m. ET
Should you adopt a few hedge-fund strategies in your portfolio?
At first blush the idea seems perverse. Hedge funds are on track for another mediocre year. The average such fund has underperformed a plain-vanilla 60-40 mix of stocks and bonds, as tracked by products such as the Vanguard Balanced Index Fund , in each of the past five years.
Yet there might be a case for considering something more exotic.
Equities and fixed-income markets have become increasingly expensive. This raises the risk that future returns from such mainstream investments won’t be as good as they have been in the past.
Meanwhile, new research by strategists at Société Générale unit SG Securities, conducted on behalf of its institutional clients, has found that adding a dose of “alternative” strategies to a mainstream portfolio of stocks and bonds would have boosted returns going back to at least the mid-1990s. They also lowered volatility, or sharp swings in value.
The strategies included betting on the carry trade, which means borrowing in currencies with low interest rates and lending in those with higher rates, or betting on the price difference between the current “spot” price for commodities and the price for delivery at some future period, or on the likelihood that low-risk stocks will outperform higher-risk ones.
Not only did the strategies perform well in their own right, but in many cases they produced returns that were uncorrelated with stocks and bonds, meaning they tend to zig when most of your other investments zag.
Shifting 10% of a traditional portfolio of stocks and bonds into a diversified basket of 10 such strategies added about one percentage point a year to returns, according to SG. The portfolio also experienced lower volatility, because many of these strategies are uncorrelated with stocks and bonds.
Some of these strategies produced surprisingly strong returns with low risk. SG found that the popular carry trade has produced excess returns over those of government bonds by six percentage points a year since 2002—with very little volatility.
“These are the true diversifiers in the portfolio,” says Mark Wilson, chief investment officer at the Tarbox Group, a wealth adviser in Newport Beach, Calif., with $420 million under management, which has used such strategies for clients on occasion.
The problem, as so often, comes when you try to put this into practice.
Many of these strategies are so complex and involved they could be pursued only by professionals operating at a hedge fund or an investment bank. Even the most basic would require a fair amount of expertise and work. Meanwhile, hedge funds bring their own problems for investors. Not only are they mostly accessible to high-net-worth investors, but they typically entail high fees which will soak up a large portion of your profits—assuming the funds are profitable.
Some mutual funds seek to offer these strategies for retail investors. After the 2008 financial crisis a number of funds labeled “absolute return” or “total return” sprang up with the aim of providing uncorrelated returns.
They are a mixed group. “There are many total-return funds out there that seem to be charging a premium for doing nothing other than stocks and bonds,” says Marc Roland, investment manager at Dean Roland Russell, a wealth-management firm in San Diego that oversees $210 million.
Lipper’s index of absolute-return mutual funds—which use a grab bag of strategies—has produced annualized returns of 3% over the past five years, compared with 16% for the S&P 500 and 11% for the Vanguard Balanced Index Fund. Many have fees approaching 2%, many times that of low-cost index funds.
Some lower-cost focused products target a specific strategy. Often these are exchange-traded notes, which are contracts issued by an investment bank that promise to mimic the performance of a particular index.
Stephen Craffen, a portfolio manager at Stonegate Wealth Management in Oakland, N.J., which has $140 million under management, frequently allocates 10% of client portfolios to the iPath S&P 500 Dynamic VIX ETN. The ETN tracks the Chicago Board Options Exchange Volatility Index, or VIX, which typically spikes when the stock market hits turmoil.
A portfolio composed of 90% in the S&P 500 index of U.S. stocks and 10% in the iPath S&P 500 Dynamic VIX ETN has produced higher returns with lower volatility than 100% allocated to stocks, Mr. Craffen says. The ETN charges fees of 0.95% a year, or $95 per $10,000 invested.
A few of the strategies highlighted by SG Securities can be accessed through low-cost exchange-traded funds. For example, some of the most successful historically have been to bet that certain types of stocks will outperform others over the medium to long term.
Types of stocks typically favored in these strategies have included “value” stocks—meaning those inexpensive in relation to fundamentals such as profits and net assets—”low volatility,” or low-risk, stocks, and “high-quality” stocks, meaning those of companies with strong fundamentals and persistent profits.
Ordinary investors today have access to a plethora of low-cost exchange-traded funds that invest in value, low-volatility or quality stocks. These include the iShares MSCI USA Quality Factor ETF , with fees of 0.15%, and the SPDR MSCI EAFE Quality Mix and SPDR MSCI Emerging Markets Quality Mix ETFs, each with fees of 0.3%, which invest in developed and emerging overseas stock markets, respectively.
Still, advisers say, investors thinking about adding alternative strategies to their portfolio need to ask themselves, and their money managers, some hard questions first. Do you really understand why you are investing? Do you understand the strategy, the fees and the risks? Are you investing in strategies in the hope of boosting returns or simply reducing volatility?
Those adding more complex or more volatile strategies need to tread carefully and do their homework.
Advisers typically recommend adding no more than around 10% of a portfolio to higher-risk alternative strategies, such as betting on volatility.
Tom Magliozzi < Vigoda
Anyone who bought since 2007 will not get their price paid for a decade at least, we’re entering another leg down in real estate prices as headwinds are overwhelming peppy blurbs about real estate as the numbers do not back up the argument. Real estate taxes as they are are bad enough but guess what – they’re not going down, salaries are stagnant and will not overwhelm CPI or anything else and will only ad to the downward pressure. Shrinking pool of buyers (debt burden) results in lower prices – houses that were $500k asking several years ago are now $350k. There is no mechanism in place for rising prices.
Stu:
Ric Edelman: Kiss Today’s Robo Advisors Goodbye
Anyone looking at the financials of today’s robo advisors can’t help but be struck by the similarities between them and the dot-com companies of the late 1990s. The most glaring problem is the burn rate, according to Edelman. Even the most successful robo advisors like Betterment and Wealthfront are hemorrhaging cash. Still, Edelman thinks the next generation of robo advisors will take the technologies of the current group and find ways to achieve economic viability.
Party on Garth!
Gross calls for more spending as the election looms. More spending from the Republicans who are poised to control the purse strings.
There is room in the deficit…
FY 2015*: $564 bln
FY 2014: $483 bln
FY 2013: $680 bln
FY 2012: $1,087 bln
FY 2011: $1,300 bln
FY 2010: $1,294 bln
FY 2009†: $1,413 bln
FY 2008: $458 bln
FY 2007: $161 bln
FY 2006: $248 bln
FY 2005: $318 bln
http://www.marketwatch.com/story/grounded-in-sand-bill-gross-calls-for-fiscal-stimulus-2014-11-03
Conditions change fast. This current economic climate won’t last and wage inflation will surely come. Why? Because wage inflation is the only thing that can get the economy going again.
John says:
November 3, 2014 at 5:21 pm
Anyone who bought since 2007 will not get their price paid for a decade at least, we’re entering another leg down in real estate prices as headwinds are overwhelming peppy blurbs about real estate as the numbers do not back up the argument. Real estate taxes as they are are bad enough but guess what – they’re not going down, salaries are stagnant and will not overwhelm CPI or anything else and will only ad to the downward pressure. Shrinking pool of buyers (debt burden) results in lower prices – houses that were $500k asking several years ago are now $350k. There is no mechanism in place for rising prices.
100- This guy gets it. This is what I have been saying. He knows wage inflation is the only way to create demand. More will realize it in time.
““The real economy needs money printing, yes, but money spending more so, and that must come from the fiscal side — from the dreaded government side — where deficits are anathema and balanced budgets are increasingly in vogue,” he writes.
Until that happens, deflation remains a growing possibility, he says”
re #102- Riddle me this Passion Flute where does a Trillion in physical stimulus get spent next year? Aren’t all those defense contractors gone from Wayne?
100- “Well give BIll credit. Just as Churchill remarked about Americans that “you can count on them to do the right thing, after they have tried all the wrong ones”, Bill, after supporting all the wrong ideas (tax cuts, interest rates hikes, austerity) has finally come around to an idea that stands a chance of success. Consumers won’t spend, businesses just pile up cash hordes, (and it is the same here as internationally) so that leaves only government to spend money unless someone knows how to lure space aliens here to buy stuff. So simple. We’ve known this since 1935, but austerity is always so attractive, well, to people with a lot of money, that is.”
“History proves that what Bill Gross is saying is correct. Central Bankers alone do not create inflation, governments do (with the assistance of the bank). Turn the money printing machine onto the general population and see how fast prices will rise. Maybe this part of the plan is already in the works with the expected increases in entitlement spending which will cause more dollars to fly out of Washington with every passing quarter. Increase taxes as the spending ramps up, (tax and spend), and we can have an inflationary bonfire stoked by all the excess reserves just sitting in the banking system right now. Kaboom!”
Yeesh, LT on the sidelines at the game queue the complainers.
I’ve set forth this hypothesis several times in prior years on this board. Space aliens need to land on earth with space ships full of gold wanting to exchange it for earth real estate. It’s the only thing that can make Passion Flute look like a genius. The only thing.
unless someone knows how to lure space aliens here to buy stuff.
Blast from the past:
The Original NJ ExPat says:
August 1, 2012 at 4:56 pm
[90] Nom – Maybe benevolent aliens from outer space bringing lots of gold with them and looking to specifically buy fix-er-up houses, the more mold the better?
One more from back then, this one from Nom. I just found out the term for this today, “Inverted Totalitarianism”
http://en.wikipedia.org/wiki/Inverted_totalitarianism
Comrade Nom Deplume says:
August 1, 2012 at 4:29 pm
[91] joyce,
Never said I agreed; just that’s how they view it. At the core, the idea of money is a medium of exchange that the gov lets you use. The real question is do you own the underlying value? The answer, if you asked “the government” would surprise you.
Really, if you examine the question, we are not that far removed from a feudal society in which all property is “owned” by the sovereign, who dispenses limited “rights” to tangible and intangible property. In our case, the sovereign isn’t one person in a crown but there is a sovereign nonetheless.
In inverted totalitarianism, every natural resource and every living being is commodified and exploited to collapse as the citizenry are lulled and manipulated into surrendering their liberties and their participation in government through excess consumerism and sensationalism.
Any questions?
Somebody figure out how to invert Turdblossom, preferably skinning him in the process.
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