New Jersey and NY Metro Making Progress

This is probably the strongest showing yet, and finally good indication that NJ is making forward progress on reducing the number of foreclosures and outstanding mortgage delinquencies.

For state foreclosure performance, you can see that NJ ranked second best in terms of foreclosure inventory reduction, dropping a full percentage point in comparison to Florida with their very strong 1.6% (Florida is very quick to foreclose, and has the ability to support a significantly larger pipeline than NJ). Serious delinquencies down a strong 1.2% year over year.

Metro area performance for the broader NY metro area are also making strong progress with a large 0.7% year over year reduction in foreclosure inventory, and second highest drop in serious delinquencies, 1.1% compared to a 1.7% in Chicago.

NJ will continue to remain on top for at least another year, however we’re finally starting to see solid progress being made on reducing inventory and delinquencies, dare I say an end seems to be in sight. I’m not calling all clear, not by a long shot. It won’t be until we pass terminal foreclosure velocity and start to see the YOY numbers drop can we say that. A good number of states have already made it over that hurdle and are coasting back down to what would be considered a longer-run average.

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82 Responses to New Jersey and NY Metro Making Progress

  1. D-FENS says:

    1 -Place looks awesome. I’ll have to try it sometime. I still have a soft spot for GFH in woodland park though. Much of what the owner does is a giant F U to anti-gun politicians. He even has a F U Michael Bloomberg cigar smoking area.

  2. Here’s my own informal poll of sorts. A friend of mine from HS posted on his FB timeline “Donald Trump is an @ss” last night. Result: 26 likes and 9 supporting comments. I added my own comment, “Hillary is a c*nt. Now that we’ve stated our theses, let’s move on to the debate phase.”. Result: 1 like, 1 supporting comment, 1 supporting personal message, 1 comment from the timeline statin, If you want to use language like that, please take it to your own page.. I guess I won’t be using the H word around Nate in the future.

  3. should be one comment from the timeline owner stating,

  4. Another comment just came in on that thread i’m hoping that he has insulted enough sectors of the American population to kill his chances of getting elected. My bigger fear is that his contribution is that he has made it more acceptable to be a biggot[sic].

  5. anon (the good one) says:

    this is a good lesson for you

    The Original NJ ExPat says:
    December 9, 2015 at 8:10 am
    Here’s my own informal poll of sorts. A friend of mine from HS posted on his FB timeline “Donald Trump is an @ss” last night. Result: 26 likes and 9 supp comments. I added my own comment, “Hillary is a c*nt. Now that we’ve stated our theses, let’s move on to the debate phase.”. Result: 1 like, 1 supporting comment, 1 supporting personal message, 1 comment from the timeline statin, If you want to use language like that, please take it to your own page.. I guess I won’t be using the H word around

  6. Fast Eddie says:

    Lt. Army Colonel Ralph Peters calls Obammy a total p.ussy, live, on air. I guess he’s just telling it like it is:

    https://www.youtube.com/watch?v=mfzSlldIUHQ

  7. anon (the good one) says:

    extremists are, by definition, outside of the mainstream
    America will never elect an extremist. guaranteed

  8. D-FENS says:

    8 – I would consider you a left wing extremist.

  9. chicagofinance says:

    Students demand college renames ‘Lynch’ building because of racial overtones

    By Joe Tacopino

    Protesters at a Pennsylvania college are demanding that the school rename a building called Lynch Memorial Hall because of the racial overtones of the word “lynch.”

    The group of students at Lebanon Valley College submitted a list of demands to the administrators, including nixing the name of the building devoted to the college’s former president, Clyde A. Lynch.

    Student organizers said the college needed to address “institutional injustices” on the campus.

    “It’s a rare moment here at Lebanon Valley College,” Michael Schroeder, an associate professor of history, told PennLive outside a recent demonstration.

    The demonstration Schroeder spoke at was closed to photos and video by organizers who sought to create a “safe space,” the site said.

    A school spokesman called former president Lynch a “very important figure” in the history of the college. He is credited with guiding the school through the Great Depression.

    Other demands by the group include a more diverse curriculum, more sensitivity training for staff and regular surveys of the racial climate on campus.

  10. chicagofinance says:

    The Robin Byrd Show for clot:
    http://guntv.tv/company-information/

  11. Trapper Dan says:

    re: #10 – If someone says the word falafel around here I will ask Grim to issue a a trigger warning.

  12. D-FENS says:

    10 – Sometimes I think these kids are just fcuking with their teachers and we are taking it way too seriously.

  13. Fast Eddie says:

    I understand the color black is going to be changed to another name yet to be determined.

  14. Fast Eddie says:

    America will never elect an extremist. guaranteed

    We have one occupying the White House.

  15. SX [52, prev thread];

    it would be nice to have something for home security and not feel that I was breaking 20 different laws.

    Then why do you keep voting Democrat? Cognitive dissonance much?

  16. D-FENS says:

    That’s the way I feel about it. Also it would be nice to know that if I put something in my car the wrong way, or made a wrong turn, or just pissed off a state bureaucrat, that I wouldn’t be put in a cage for 5 years.

    Essex says:
    December 8, 2015 at 5:09 pm
    53. I’m not particularly opposed to it. It’s just not something that I would personally do.

  17. Ragnar says:

    Extremism doesn’t apply to leftists.
    Ayn Rand explained how the “extremism” game works:

    Are an extreme of health and an extreme of disease equally undesirable? Are extreme intelligence and extreme stupidity—both equally far removed “from the ordinary or average”—equally unworthy? Are extreme honesty and extreme dishonesty equally immoral? Are a man of extreme virtue and a man of extreme depravity equally evil?

    The examples of such absurdities can be multiplied indefinitely—particularly in the field of morality where only an extreme (i.e., unbreached, uncompromised) degree of virtue can be properly called a virtue. (What is the moral status of a man of “moderate” integrity?)

    But “don’t bother to examine a folly—ask yourself only what it accomplishes.” What is the “anti-concept” of “extremism” intended to accomplish in politics?

    The basic and crucial political issue of our age is: capitalism versus soc1al1sm, or freedom versus statism. For decades, this issue has been silenced, suppressed, evaded, and hidden under the foggy, undefined rubber-terms of “conservatism” and “liberalism” which had lost their original meaning and could be stretched to mean all things to all men.

    The goal of the “liberals”—as it emerges from the record of the past decades—was to smuggle this country into welfare statism by means of single, concrete, specific measures, enlarging the power of the government a step at a time, never permitting these steps to be summed up into principles, never permitting their direction to be identified or the basic issue to be named. Thus statism was to come, not by vote or by violence, but by slow rot—by a long process of evasion and epistemological corruption, leading to a fait accompli. (The goal of the “conservatives” was only to retard that process.)

  18. Rags [18];

    Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience. They may be more likely to go to Heaven yet at the same time likelier to make a Hell of earth. This very kindness stings with intolerable insult. To be “cured” against one’s will and cured of states which we may not regard as disease is to be put on a level of those who have not yet reached the age of reason or those who never will; to be classed with infants, imbeciles, and domestic animals.

    – C.S. Lewis

  19. Fabu [71, prev thread];

    3B the left did not create Trump, the right did.

    Well, if Slate says so, it must be true.

    That argument only works if one takes as an article of secular faith, as you and most leftists do, that all conservatives are racists per se. The fact that would shock you is that not only is it untrue, but further they modal leftist is more likely to be a racist, and on average more virulently so, than a typical conservative. Proving once again that leftism is nothing but a case study in psychological projection.

  20. Trapper Dan says:

    Goota love how the white house press secretary got his panties in an uproar over Trump yesterday. Seems the polling for Trump is scaring the crap out of the Democrats so much that Hillary had to meet with O on Monday behind-closed-doors session to get him involved in the election.

    Durka Durka Democrats better up the ante and start another war if you want to win the election.

  21. chicagofinance says:

    Should Anyone Be Eligible for Student Loans?

    CAPITAL ACCOUNT

    THE OUTLOOK

    With U.S. college-debt defaults surging, some economists say it’s time to introduce standards for federal aid, making it more likely borrowers will actually graduate

    By JOSH MITCHELL

    A surge in the share of Americans defaulting on their student debt is generating support for an obvious but controversial idea: restrict who can borrow for higher education.

    For decades, the federal government has imposed no underwriting standards in its student-loan program. Just about any American can borrow as much as $57,500 for college—and essentially unlimited amounts for graduate school—with little regard for the person’s ability to repay. Everyone taking out federal loans in a given year pays the same interest rate.

    Supporters of that no-questions-asked policy say it guarantees every American a shot at a degree and a secure middle-class income. Imposing underwriting standards would deny a higher education to many poor people who can’t get loans from private lenders, they argue.

    But a sharp rise in delinquencies in the $1.2 trillion federal student-loan program is drawing comparisons to subprime mortgage lending, which added to the housing crisis. It is also stirring debate on other ways to allot student aid.
    New research shows a preponderance of the millions of borrowers who have defaulted on student loans in recent years are poor, were unprepared for college, and attended troubled schools that offered little hope of leading to a decent job.

    “It’s not a gift to a poor person who is not going to be able to complete a degree program to give them a loan,” said Caroline Hoxby, a Stanford University economics professor, who calls the soaring load of student debt “a self-inflicted wound on the part of the federal government.”

    The student-loan delinquency rate has jumped to around 12%, roughly double its level before the recession, according to the New York Federal Reserve. When excluding borrowers still in school, roughly a quarter of all student debt is at least 90 days behind on payments. The comparable number for home-mortgage debt never exceeded 9% after the housing crash.

    A recent Brookings Institution study by Treasury Department economist Adam Looney and Stanford’s Constantine Yannelis attributes the rise in both borrowing and defaults since the recession largely to “nontraditional students” who enrolled at for-profit schools and community colleges. Those schools typically have low or no academic standards for enrolling.

    Such students made up more than two-thirds of defaults among those who left school in 2011, the study found, analyzing government tax records and student-loan figures. The defaulted borrowers tend to be older, from lower-income families, and more likely to be first-generation college-goers compared with students who attend four-year schools.

    Likewise, an October paper by Federal Reserve researchers linked defaults to those who had weak credit scores. About 30% of those who had credit scores of between 500 and 599 a year before they left school eventually became delinquent on their loans. But among those with a score of 680 to 729, only 9% became delinquent, according to the paper, by Fed economists Alvaro Mezza and Kamila Sommer.

    They and other researchers aren’t advocating underwriting based on credit scores—they point out that doing so would penalize high-achieving students from poor families, who are more likely to have bad credit.

    But some economists say the government should target more aid toward such borrowers—in the form of grants, which don’t have to be repaid, rather than loans. They also advocate underwriting criteria based on borrowers’ high-school grades and test scores, colleges’ graduation and job-placement rates, and the earnings potential of various majors.

    One underappreciated problem is just how many students take on loans when they aren’t ready for college-level coursework, which makes them more likely to drop out. The average amount owed by those who default is relatively low—just under $9,000—largely because many borrowers have dropped out after one or two years, leaving them without a path to a good job.

    Neal McCluskey of the libertarian Cato Institute said the government should strive to avoid “saddling people with debt who have very little likelihood of completing a degree and being able to pay it back.” The way to do that, he said, is to lend only to students who meet minimum test and grade-point-average requirements.

    Others suggest giving less-accomplished students grants to cover the first year, then loans to cover subsequent years if they have demonstrated they can handle college-level work.

    Policy makers aren’t contemplating such big steps, but some plans might have a similar effect on a smaller scale. The Obama administration is implementing new rules that would cut off funding at career-training schools that leave students with high debt burdens and weak incomes. The plan, though, wouldn’t apply to most public or nonprofit four-year schools.

    Democratic presidential candidate Hillary Clinton has called for colleges to be held liable when their students default on loans, an idea that has gained traction among members of both parties as a way to control costs.

    Florida Sen. Marco Rubio, a GOP presidential candidate, has pushed to have all schools publish detailed data on their graduates so that future borrowers can make better borrowing decisions.

    Such plans, in a sense, are roundabout ways to keep borrowers from making bad investments, and make students think more carefully about which school to attend and what to study.

  22. chicagofinance says:

    OPINION

    LETTERS

    ‘Warming’ Science Is Anything but Settled

    Because the vested financial and political interests are too great for the alarmists to drop.

    COMMENTS

    In regard to your Dec. 2 editorial “We’ll Always Have the Illusions of Paris”:

    Concerning illusions, we will always have the illusions of global warming, too, because the vested financial and political interests are too great for the alarmists to drop. Their illusions are great: Sea level rise is going to be catastrophic despite the top sea level expert, Stockholm geologist Nils-Axel Moerner, saying that is “the greatest lie ever told”; Arctic ice is melting despite its 5% increase in the last nine years; the Ross Ice Shelf in Antarctica is failing despite the increased ice pack there over the past 15 years; extreme weather events will increase because of global warming despite cyclonic activity falling to a 30-year low after Rita and Katrina in 2005, despite tornado activity trending down for 50 years, and despite the U.N. IPCC concurrence that extreme events are not increasing; global warming is caused by increased carbon dioxide atmospheric concentrations despite the U.N.’s model signature for this to occur, a hot spot 10-12 kilometers above the tropics, has never been found, despite those concentrations being much higher though geologic history, at times during glacial periods, and despite the increase in carbon dioxide concentrations over the past 17 years not causing Earth temperatures to rise; temperatures are rising quickly despite satellite data showing no temperature increase since 1998.

    These are the lies alarmists say need to be mitigated immediately or there will be catastrophe. The immediacy is needed, of course, before the misinformed populace learns the truth. Perhaps alarmists should abide by their own precautionary principle and not wreck our economy entirely before the science is settled, which it definitely is not.

    Terry W. Donze

    Geophysicist

    Wheat Ridge, Colo.

  23. The Great Pumpkin says:

    I’m not joining the Rand movement, but she brings up some very good points in this passage.

    Ragnar says:
    December 9, 2015 at 10:37 am
    Extremism doesn’t apply to leftists.
    Ayn Rand explained how the “extremism” game works:

    Are an extreme of health and an extreme of disease equally undesirable? Are extreme intelligence and extreme stupidity—both equally far removed “from the ordinary or average”—equally unworthy? Are extreme honesty and extreme dishonesty equally immoral? Are a man of extreme virtue and a man of extreme depravity equally evil?

    The examples of such absurdities can be multiplied indefinitely—particularly in the field of morality where only an extreme (i.e., unbreached, uncompromised) degree of virtue can be properly called a virtue. (What is the moral status of a man of “moderate” integrity?)

    But “don’t bother to examine a folly—ask yourself only what it accomplishes.” What is the “anti-concept” of “extremism” intended to accomplish in politics?

    The basic and crucial political issue of our age is: capitalism versus soc1al1sm, or freedom versus statism. For decades, this issue has been silenced, suppressed, evaded, and hidden under the foggy, undefined rubber-terms of “conservatism” and “liberalism” which had lost their original meaning and could be stretched to mean all things to all men.

    The goal of the “liberals”—as it emerges from the record of the past decades—was to smuggle this country into welfare statism by means of single, concrete, specific measures, enlarging the power of the government a step at a time, never permitting these steps to be summed up into principles, never permitting their direction to be identified or the basic issue to be named. Thus statism was to come, not by vote or by violence, but by slow rot—by a long process of evasion and epistemological corruption, leading to a fait accompli. (The goal of the “conservatives” was only to retard that process.)

  24. Trapper Dan says:

    re # 24 – Election season is only just starting to get dirty Pumpkin. I have a feeling we haven’t seen nothing yet.

  25. D-FENS says:

    Convert who protested outside Parliament over Syrian airstrikes with poster saying ‘I am a Muslim… do you trust me enough for a hug?’ now faces jail for threatening to bomb MP’s house

    http://www.dailymail.co.uk/news/article-3349803/Muslim-convert-faces-jail-threatening-bomb-MP-s-house.html#ixzz3tmNPXXWP

  26. Essex says:

    16. Fair question. I haven’t seen a GOP candidate who was not mired in the religious fundamentalism, John McCain chose Sarah Palin and became a zombie once the GOP fed him their dogma, and three I just might:….

  27. walking bye says:

    Milken Institute for best performing cities, no surprise as no nj city in top 25. Raleigh came in at 6. Nassau Suffolk lands at the bottom. NYC Metro in at 90th place

    http://best-cities.org/bestcities.taf?type=highlights

  28. Fabius Maximus says:

    #18 Rags

    What a load of garbage, aside from the fact you are arguing Apples to Oranges.
    Here is the issue with absolutes they are always hypothetical. In the real world they can’t actually exist. Absolute zero, I can tell you exactly what it is, but I can also tell you it cant exist. You can get close, but you can’t get there. It’s a lot like objectivism, sounds great in theory, but can’t exist in the real world. Life, Liberty and Property. What happens when two of them collide, one of them has to give. Great in theory, can’t work in practice.
    Support of Democracy is the biggest Randian lie. The right of the people to choose, tramples straight over the rights of the individual. You can mask it in a call for limited Gvmt, but at the end of the day, a vote for limited Gvmt goes against the ones that want no Gvmt and those that want no limitation on Gvmt.

  29. Fabius Maximus says:

    #19 Moose

    What about trying to make sure you don’t get sick in the first place, because if you get sick there is a very good chance you get me sick ad well? I have Randian Rights you know!

  30. Fabius Maximus says:

    #20 Moose

    The point is not the source, but the content. They are reporting the polling. They are not cherry picking polls. The list they covered show the fill spectrum and all are showing the same results. That’s hard to argue against.

  31. D-FENS says:

    Bloomberg Politics Poll: Nearly Two-Thirds of Likely GOP Primary Voters Back Trump’s Muslim Ban

    http://www.bloomberg.com/politics/articles/2015-12-09/bloomberg-politics-poll-trump-muslim-ban-proposal

  32. Essex says:

    I find the fixation on the poem on lady liberty as some edict of open borders. This will be the election question. But will the GOP swing enough voters from the Dark side to win??

  33. joyce says:

    Prior restraint is the antithesis of a free society.

  34. anon (the good one) says:

    me neither. will never join any of that rand Dianetics cult

    The Great Pumpkin says:
    December 9, 2015 at 11:22 am

    I’m not joining the Rand movement

  35. anon (the good one) says:

    sad but true

    Essex says:
    December 9, 2015 at 12:38 pm

    I haven’t seen a GOP candidate who was not mired in the religious fundamentalism

  36. Ragnar says:

    I can’t stand Trump. He has no coherent principles. He sees all of America’s ills as a conspiracy foisted by foreigners upon the US, as if better management and better negotiated deals, and more isolation from/attacking of the rest of the world would improve US performance and safety. Some of the things he says have a grain of truth, but then he presses that grain to the point that they become a big lie.
    The US doesn’t need a “great man” to shout orders to everyone. The US needs to operate according to its intended principles of operation, namely protecting liberty and individual rights of its citizens.

    Trump I suspect also attracts a lot of “low information” Republicans and independents and people who previously haven’t been very active politically.

  37. The Great Pumpkin says:

    28- I don’t know too much about the study, but I read this, which leads me to think it’s bs. From what I see, they are totally basing it on growth. How is the enormous nyc metro area economy going to keep up with the growth of these cities that are based on much smaller and newer economies. It’s not really an apples to apples comparison. How much can the nyc economy really grow? It’s enormous already. Putting cities in florida ahead of nyc market economies is laughable.

    “The Best-Performing Cities index was designed to measure objectively which U.S. metropolitan areas are promoting economic vitality based on job creation and retention, the quality of new jobs, and other criteria. The index shows where employment is stable and expanding, wages and salaries are increasing, and economies and businesses are thriving.”

  38. walking bye says:

    Pumkin, I will admit I did not spend a great deal studying it. My short review of some of the numbers seems like they based it on Wage growth and tech jobs. As for Florida beating nyc, you can’t fight the boomers retiring with their pocketbooks in Florida. Eventually they are going to spend it on something which will drive growth in the region. Or they can stay in Long Island and spend it on property taxes.

  39. The Great Pumpkin says:

    The one’s that have money, go down in the winter and come up for the summer. That tells you how much money is in the nyc market. They can send snowbirds down to florida to help pick up an economy that would be dead without them.

    walking bye says:
    December 9, 2015 at 2:30 pm
    Pumkin, I will admit I did not spend a great deal studying it. My short review of some of the numbers seems like they based it on Wage growth and tech jobs. As for Florida beating nyc, you can’t fight the boomers retiring with their pocketbooks in Florida. Eventually they are going to spend it on something which will drive growth in the region. Or they can stay in Long Island and spend it on property taxes.

  40. Essex says:

    Ms. Mayer, who was hired in 2012 to turn around Yahoo, had planned to spin off the company’s 15 percent stake in Alibaba, bundled with a small-business services unit, into a new company called Aabaco. She then planned to focus on improving the company’s core business, the sale of advertising that is shown to the roughly one billion users of Yahoo’s apps and websites.

    Ms. Mayer is now effectively back to square one. Yahoo’s core Internet operations are struggling, even though Ms. Mayer has made dozens of acquisitions, added original video and magazine-style content, and released new apps.

  41. walking bye says:

    Yes but the rankings are not about how much money people have in their bank accounts which they made in the 80-‘s and 90, it was based on job growth and wage growth. Besides some warehousing being built in jersey, we are not seeing job growth like other parts of the country. The Subaru HQ is an example -it will add 100 new jobs. MB is opening a plant in Charlottesville NC-1,500 jobs.

  42. Essex says:

    Walmart’s import of goods from China led to the loss of over 400,000 jobs in the United States between 2001 and 2013, according to a report from a U.S.-based non-profit think tank.

    The world’s largest retailer likely accounted for 15.3% of the growth in the U.S. goods trade deficit with China in the same period, the Economic Policy Institute (EPI) said in a report on Wednesday.

    United States goods trade deficit with China increased almost fourfold to $324.2 billion in the 12 years till 2013, with Wal-Mart accounting for $48.1 billion of the total, the EPI said.

  43. grim says:

    42 – why not just sell the stake in alibaba and shut down yahoo?

  44. Alex says:

    In other “economic recovery” news…

    Morgan Stanley to shed 1200 jobs.

  45. D-FENS says:

    Orange PD says FID cards issued in NJ take 3 to 6 months…while the law says must be issued in 30 or less….absolutely refuses to accept application for carry permit.

    https://www.youtube.com/watch?v=WZHcv9Fw_Vw&feature=youtu.be

  46. grim says:

    Why not just get everyone to start submitting carry applications?

  47. Trapper Dan says:

    re # 45 – Grim need I remind you of the AOL acquisition for $4.4 billion? There is still gold in ad revenues.

  48. Trapper Dan says:

    re # 47 – Living in the Oranges or Newark is enough justifiable need for anybody.

  49. Trapper Dan says:

    Here we go, why don’t you really tell us how you feel?

    “You know how you make America great again? Tell Donald Trump to go to hell,” South Carolina Sen. Lindsey Graham

  50. walking bye says:

    @48 Work with numerous baby boomers renting who have sold their homes bought in retirement states and just waiting to get let go with their severance. Most just waiting to turn the lights off.

  51. The Great Pumpkin says:

    Well said. That’s my problem with objectivism, it’s great in theory, but not in reality. I almost joined the movement last week due to how well the argument looks on paper, but then I snapped back into reality and understood that this does not work in reality.

    If you want to make world better for everyone, then how can it be based on competition? Competition makes the world better for some and worse for others, rand and objectivists can never ever understand this. They think competition solves all economic ills. It can’t when you have winners and losers. If you are okay with making someone a loser because they are not as smart, or were not born into the right family, then okay. I’m not okay with beating down people that were not born intellectually gifted or that were not born into the right family. You work hard and try your best, then I think you deserve something. That something is a right to a decent life. If you think living in a ghetto with running water and heat is a reward for working hard, you are crazy. Who wants to live in a neighborhood filled with gangs or desperate people willing to do anything for money? Ghetto living is not a decent life. If someone works hard, they shouldn’t be forced to live in a place like this. Unfortunately, that’s exactly what we do.

    Fabius Maximus says:
    December 9, 2015 at 1:20 pm
    #18 Rags

    What a load of garbage, aside from the fact you are arguing Apples to Oranges.
    Here is the issue with absolutes they are always hypothetical. In the real world they can’t actually exist. Absolute zero, I can tell you exactly what it is, but I can also tell you it cant exist. You can get close, but you can’t get there. It’s a lot like objectivism, sounds great in theory, but can’t exist in the real world. Life, Liberty and Property. What happens when two of them collide, one of them has to give. Great in theory, can’t work in practice.
    Support of Democracy is the biggest Randian lie. The right of the people to choose, tramples straight over the rights of the individual. You can mask it in a call for limited Gvmt, but at the end of the day, a vote for limited Gvmt goes against the ones that want no Gvmt and those that want no limitation on Gvmt.

  52. The Great Pumpkin says:

    Hey, I hope everyone is happy with their cheap china junk. Cost 400,000 lives to have access to that cheap junk.

    Essex says:
    December 9, 2015 at 2:41 pm
    Walmart’s import of goods from China led to the loss of over 400,000 jobs in the United States between 2001 and 2013, according to a report from a U.S.-based non-profit think tank.

  53. The Great Pumpkin says:

    55- I think that’s the bigger question. Why did we con our population into buying cheap junk? Talk about point less economics, straddle the carrot of cheap goods in front of consumers faces, and boom, they become addicted to buying crap that will end up in a land fill in a year or two. And people say ditch digging for no other reason, but jobs, is a bad economic policy. Window fallacy my ass. How do you defend the manufacturing of complete junk? It’s worse than digging pointless ditches becomes of all the wasted resources to make that junk. What a joke.

  54. The Great Pumpkin says:

    Yea, but look at how many jobs we already employ. How many businesses feed off the nyc market. MB moving to nc is not a win for them, how long do you think before MB pulls the same move on NC? Ten years? Twenty max? Once you get addicted to making profit by looking for cheaper labor, as opposed to a better product, it’s hard to get yourself off that junk. Think of it as a business being a heroine addict. They need that fix of cheap labor to keep up the growth, eventually their addiction will take them down. Focus on good products and you have a good business model. The minute you start modeling your business growth on cheap labor, you will become an addict that will eventually die from your addiction. No buisness was successful in the long term because they paid their workers cheaply. They are successful long term because their business model focuses on selling a product that people want. Taking the easy way out don’t end well long term.

    walking bye says:
    December 9, 2015 at 2:40 pm
    Yes but the rankings are not about how much money people have in their bank accounts which they made in the 80-’s and 90, it was based on job growth and wage growth. Besides some warehousing being built in jersey, we are not seeing job growth like other parts of the country. The Subaru HQ is an example -it will add 100 new jobs. MB is opening a plant in Charlottesville NC-1,500 jobs.

  55. Essex says:

    45. Taxes

  56. The Great Pumpkin says:

    Yes. Sad, that some people have so much money, that they can let it sit in some off shore account because they don’t need it. What a waste of capital. It’s funny, I was watching Narcos on Netflix(good series, def recommend it), and they showed a scene with pablo escobar burying his money into the ground. This guy had so much money that he had to bury it into the ground to hide it from everyone else. You would of thought that he would have quit the business when you get to the point of burying money in the ground, but no, he kept on going. Total greed. Wasted capital in the ground, while millions of columbians suffered at the hands of poverty. Now how is this any different from corporations or individuals that hide capital in off shore accounts. It’s underground (not literally, but figuratively) and going to waste. All so someone could hide money from the govt. Pay the fuc!ing taxes, you clearly don’t need the money if you can live with hiding it. Stop being a greedy pig.

    Essex says:
    December 9, 2015 at 4:16 pm
    45. Taxes

  57. Raymond Reddington says:

    Pumps, some people never have enough.

  58. Essex says:

    59. Geezus dude….not like that – they miscalculated and were under the false assumption that they could spin off Alibaba ‘tax free’…once that was discovered to be a false assumption they backed away. Mayer probably had some splainin’ to do.

  59. Ragnar says:

    Re WalMart, China and “lost jobs”.
    I’m a free trader so I’m in favor of increased not decreased global trade.
    But guess whose handwriting was all over the negotiations of China’s entry into the WTO, and all over NAFTA?
    Starts with the letters “C”, “L”…
    I’d say the WTO deal was not negotiated very well, at least from the perspective of the American citizen. China’s economy still has a lot of state control and subsidies and other distortions, and WTO could have forced more change faster.
    But I’d say that the China WTO deal has paid big dividends for the American agents involved in the negotiations. Lots of political and “charitable” donations and plum payments for “consulting” and “lecturing”.

  60. The Great Pumpkin says:

    Sorry for my assumptions, but still trying to get away “tax free”. I’m also sure they have profits hidden in some off-shore account.

    Essex says:
    December 9, 2015 at 5:49 pm
    59. Geezus dude….not like that – they miscalculated and were under the false assumption that they could spin off Alibaba ‘tax free’…once that was discovered to be a false assumption they backed away. Mayer probably had some splainin’ to do.

  61. The Great Pumpkin says:

    These multinationals are the devil. Such a joke.

    “Cadbury’s owner Mondelez has come under fire over its tax arrangements after a newspaper investigation showed it paid no UK corporation tax last year. The Sunday Times found that interest payments on unsecured debt, listed as a bond in the Channel Islands, were able to be offset against gains elsewhere. The arrangement, which is legal, wiped out the tax bill – despite sales of more than £2bn last year. Margaret Hodge, chair of the Commons all-party group on responsible tax, said: “Multinationals like this are deliberately exporting their profits with artificial company structures to avoid tax.””

    https://uk.yahoo.com/digest/20151207/cadburys-faces-boycott-amid-growing-anger-tax-avoidance-10830409

  62. Grim says:

    Tax consumption, not income.

  63. Essex says:

    63. They waited 9 months to let people know. Mayer is an empty suit.

  64. The Great Pumpkin says:

    “The founders of Cadbury, who set it up as an ethical company, will be turning in their graves.”
    Margaret Hodge

  65. chicagofinance says:

    “How can they be shocked? How did we become a society in which a son tells his father that he supports ISIS and it fails to register with this ostensibly integrated Muslim family, living the American dream, that perhaps a call to the FBI would be appropriate?”

    By BRET STEPHENS

    Nobody who watched Barack Obama’s speech Sunday night outlining his strategy to defeat Islamic State could have come away disappointed by the performance. Disappointment presupposes hope for something better. That ship sailed, and sank, a long time ago.

    By now we are familiar with the cast of Mr. Obama’s mind. He does not make a case; he preaches a moral. He mistakes repetition for persuasion. He does not struggle with the direction, details or trade-offs of policy because he’s figured them all out. His policies never fail; it’s our patience that he finds wanting. He asks not what he can do for his country but what his country can do for him.

    And what’s that? It is for us to see what has long been obvious to him, like an exasperated teacher explaining simple concepts to a classroom of morons. Anyone? Anyone?

    That’s why nearly everything the president said last night he has said before, and in the same shopworn phrases. His four-point strategy for defeating ISIS is unchanged. His habit of telling us—and our enemies—what he isn’t going to do dates back to the earliest days of his presidency. His belief that terrorism is another gun-control issue draws on the deep wells of liberal true belief. His demand for a symbolic congressional Authorization for Use of Military Force is at least a year old, though as recently as 2013 he was demanding that Congress kill the AUMF altogether. Back then he was busy boasting that al Qaeda was on a path to defeat.

    The more grating parts of Mr. Obama’s speech came when he touched on the subject of Islam and Muslims. “We cannot,” he intoned, “turn against one another by letting this fight be defined as a war between America and Islam.” Terrorism, as he sees it, is to be feared less for the harm it causes than for the overreaction it risks eliciting.

    This is the president as master of the pre-emptive self-reproach—the suggestion that Americans are always on the verge of returning to the wickedness whence we came. But since when have we turned against one another, or defined the war on terror as a war on Islam?

    Syed Rizwan Farook, a heavily bearded and openly devout Muslim, was a county employee in good standing with his colleagues who didn’t raise an eyebrow until he and his foreign bride opened fire in San Bernardino. The first 48 hours of the investigation amounted to a nationwide flight from the obvious, a heroic exercise in cultural sensitivity and intellectual restraint, as every motive except for jihad was mooted as a potential explanation for mass murder. Had Farook’s wife not sworn allegiance to ISIS moments before the attack, we might still be debating whether an act of Islamist terrorism had really happened.

    On Sunday the Italian newspaper La Stampa carried an interview with Farook’s father, also named Syed. “My son said that he shared [ISIS leader Abu Bakr] Al Baghdadi’s ideology and supported the creation of Islamic State,” the elder Farook told correspondent Paolo Mastrolilli. “He was also obsessed with Israel.”

    The father went on to explain that he had tried to reason with his son by saying that Israel would no longer exist in a couple of years and that the Jews would soon be returning to Ukraine, so there was no need to take up arms for jihad. “But he did not listen to me, he was obsessed.”

    Now the Farook family professes utter shock at what’s happened. How can they be shocked? How did we become a society in which a son tells his father that he supports ISIS and it fails to register with this ostensibly integrated Muslim family, living the American dream, that perhaps a call to the FBI would be appropriate?

    Here’s how we became that society: By pretending that the extreme branch of Islam to which Farook plainly belonged is a protected religion rather than a dangerous ideology. By supposing that it is somehow immoral to harbor graver reservations about 10,000 refugees from Syria or Iraq than, say, New Zealand. By being so afraid to give moral offense that we neglect to play the most elementary form of defense.

    If you see something, say something, goes the ubiquitous slogan. But heaven help you if what you see and say turns out to be the wrong something—an alarm clock, for instance, as opposed to a bomb.

    This is President Obama’s vision of society, and it is why he delivered this sterile, scolding homily that offered no serious defense against the next jihadist massacre. We have become a country that doesn’t rouse itself to seriousness except when a great many people are murdered. Fourteen deaths apparently isn’t going to move the policy needle, as far as this president is concerned. Will 1,400?

  66. Comrade Nom Deplume, the anon-tidote says:

    Been in Brooklyn all day. So did I miss any especially stupid anon/pumpkin/Fabian gems or was it the run of the mill shite?

  67. D-FENS says:

    Just the messenger….but damn…..its way too easy to find events like these

    Mosque near ‘Clock Boy’ Ahmed’s Texas Home Connected to Terrorism

    http://www.breitbart.com/texas/2015/12/07/clock-boy-ahmeds-mosque-connected-to-terrorism/

  68. anon (the good one) says:

    this is just another way of saying ‘only tax poor people’. disturbing – will never happen. guaranteed

    Grim says:
    December 9, 2015 at 6:22 pm
    Tax consumption, not income

  69. anon (the good one) says:

    indeed

    @chrislhayes
    There are consequences to all the vile, despicable bigotry we’re seeing, and fear-stoking so many are engaged in

  70. 1987 Condo says:

    You can do a consumption tax that protects the poor, you just allow $x of consumption at no charge, administered by sending the equivalent of the EITC

  71. The Great Pumpkin says:

    74- “Seven years after their dubious lending practices helped push the United States economy to the brink of disaster, the nation’s largest banks are closing in on a long-sought goal: to unseat Fannie Mae and Freddie Mac, the mortgage finance giants, and capture their share of the profits in the country’s $5.7 trillion home loan market.

    Taking place largely behind the scenes, the movement to take over the mortgage market has been propelled in part by a revolving door between Washington and Wall Street, an investigation by The New York Times has found.”

  72. walking bye says:

    Mack Cali to bring low income to upper saddle river… Will convert Pearson complex to low income family homes,

    Who are they doing this for, mack cali has no interest in residential projects

  73. The Great Pumpkin says:

    This is what I don’t agree with. Putting low income housing in a place like Upper Saddle River does no good for anyone. What exactly are you trying to do by putting poor people directly in contact with some of the richest individuals in the state/country? Are they trying to make these people hate themselves? Anyone that lives in that low income community will become the wrath of that community. Their kids will get picked on in school. They will feel like second rate citizens. Their self esteem will be shot. Why would you sign anybody up for this? I would never put my kid through that.

    walking bye says:
    December 9, 2015 at 9:17 pm
    Mack Cali to bring low income to upper saddle river… Will convert Pearson complex to low income family homes,

    Who are they doing this for, mack cali has no interest in residential projects

  74. Comrade Nom Deplume, the anon-tidote says:

    “anon (the good one) says:
    December 9, 2015 at 7:39 pm
    indeed

    @chrislhayes
    There are consequences to all the vile, despicable bigotry we’re seeing, and fear-stoking so many are engaged in”

    Then perhaps you and Chris Hayrs should stop.

  75. Comrade Nom Deplume, the anon-tidote says:

    [71] anon

    If it will never happen, why is it disturbing, snowflake?

    When I studied tax policy at NYU, consumption taxes were argued often by liberal academics. Mind blown yet?

  76. Comrade Nom Deplume, the anon-tidote says:

    It’s just too easy to pick on the Twidiot. It’s addictive, like Thin Mints.

  77. walking bye says:

    pumkin I was talking to an old union boss, basically whats going on is the community in spring valley/suffern is looking to move into bergen and tap some of it s tax base. They can’t get into Mahwah as its too Catholic and too populated. Hence they will leapfrog into Upper Saddle River. They looked at the former golf course but were blocked so this is the next attempt in. Look at the tax rates in Suffren they make ridgewood look like south Carolina. $600k home with $50k in taxes.

  78. Essex says:

    “If this oasis of the world should be overrun, perverted, contaminated, or destroyed, then the last flickering light of humanity will be extinguished,” Senator McCarran said of the law. He was a Democrat.

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