From the Record:
NJ lost 6,800 jobs in May; unemployment rate ticks up
New Jersey lost 6,800 jobs last month, increasing the state’s unemployment rate to 4.9 percent, slightly higher than the national average, the Department of Labor and Workforce Development said Thursday.
The May job losses were owed largely to a strike by Verizon workers, “which idled approximately 5,000 workers in the information sector,” the labor department said.
“Like the national economic recovery, the New Jersey economic recovery is experiencing a slight pause. This is only temporary, however, and we have every reason to expect growth throughout the remainder of 2016,” James Wooster, chief economist for the state Treasury Department, said in a statement.
The rise in the unemployment follows a recent trend after Governor Christie celebrated recovery from the Great Recession. Christie boasted of the state’s unemployment rate dropping to 4.3 percent, below the national average, and of New Jersey having more people employed than at any time in history.
But over the last two months New Jersey’s unemployment has slowly edged up as the national average has dropped. In May the national unemployment rate was 4.7 percent, according to the Bureau of Labor Statistics.
grim do us all a favor and ban the mass posting / penny stock pumping idiot
don’t see on what basis to ban him.
he says that unfounded pension aren’t as serious issue as y’all make it to be.
then y’all attack him relentlessly but won’t refute conclusively any of his arguments
un·found·ed
ˌənˈfoundəd/
adjective
having no foundation or basis in fact.
Two nitwits defending each other.
You want corruption?
According to a report by New Jersey Watchdog, the biggest dipper is County Executive Joseph N. DiVincenzo (D), who is paid $230,476 annually. Nearly $69,000 of that is from a pension after he quietly retired from the position in 2010, only to be reelected months later.
http://imgur.com/XkLdDaY
There are two universal truths when discussing unfunded liabilities. They are:
1. The recipients are never going to agree to a meaningful reduction in benefits even if it results in a healthier fund long term.
2. Politicians will continue to underfund them to buy votes in the short term.
If you are planning mid range(5-10 years out) then some of the details may matter to you and feel free to bicker. Otherwise, the rational response to take is to prepare yourself for the funds to eventually implode, and protect yourself for that eventuality.
And I highly doubt the claim by the resident SENIOR financial analyst that he’s some kind of heavy hitter at his shop.
If he were, I assume that he would understand why all of this funds reach a critical point and implode well before they reach a zero balance. Liquidity etc. will be gone and an asset firesale would commence well before.
You simply hate what you do not understand…..or he simply doesn’t understand what the rest of us hate…..
I wonder if NJ pensions have provisions to cash out spouses in the event of divorce?
Details are foggy from memory, but I recall that, after watching their airline (Continental?) go serial BK and default on its pension obligations, leaving the PBGB to pick up the slack at pennies on the dollar, some pilots figured out that if they divorced their spouse, and assigned said ex-spouse their pensions in the divorce settlement, the airline would have to cash the spouse out. So pilots would do so when they were forced to retire at age 60 (since raised to 65). Nothing to stop ex-spouses from living together or remarrying, right? The airlines sic’d the feds on them for alleged fraud, fraud in the sense of “How dare you figure out a way to make us live up to our promises!”
9 if he admits its a problem he admits that it has to be resolved not later but sooner. One of the methods to solve it will be to increase property taxes ….. dramatically. If property taxes increase dramatically that will a affect his property values. I know more than a few like him.
Here’s your genuine candidate: http://www.npr.org/2016/06/16/482344060/watch-8th-grader-impersonates-trump-clinton-sanders?utm_source=facebook.com&utm_medium=social&utm_campaign=npr&utm_term=nprnews&utm_content=20160616
Exactly. If I’m wrong, tell me how. I’m here to learn. I’m not here to prove I’m smarter than anyone. I’m here for the debate and discussion.
GOP’s broken (the good one) says:
June 18, 2016 at 11:36 am
don’t see on what basis to ban him.
he says that unfounded pension aren’t as serious issue as y’all make it to be.
then y’all attack him relentlessly but won’t refute conclusively any of his arguments
These are the criminals. These criminals push all the blame for their criminal activities on govt workers and teachers. Really messed up how they get away with this.
Everyone that will read your post, will walk away with the same feeling. A feeling of hopelessness; you know it’s fuc!ed up beyond belief, but what can you do against a political boss? Absolutely nothing.
That’s how they got in that position. They know so many people and have so many favors owed (or they have dirt on individuals). They basically played the game perfectly to be in the position they are in. That’s all it is, one big political game. Corporate workplace is no different. You don’t get to the top of the corporate ladder by being the smartest or best worker at that company. YOU GET THERE BY PLAYING THE GAME. Get to know everyone, get favors owed, and then go for the kill with cold calculated moves. No wonder most ceo’s are dirtbags (unless they built company on their own), they are no different than a political boss.
Libturd supporting the Canklephate says:
June 18, 2016 at 12:32 pm
You want corruption?
According to a report by New Jersey Watchdog, the biggest dipper is County Executive Joseph N. DiVincenzo (D), who is paid $230,476 annually. Nearly $69,000 of that is from a pension after he quietly retired from the position in 2010, only to be reelected months later.
Implied: but no way in fcuking hell am I ever, Ever, EVER, EVER, EVER, EVER, EVER going to refrain from using ONE THOUSAND TIMES as many assholian paragraphes to attempt to prove it.
I’m not here to prove I’m smarter than anyone.
Douchebag – just take a step back and read back over a couple months and try to imagine how you are viewed by the real contributors. If you have a diagnosis as a fcuktard, go go get help. If you don’t, go get one.
Seriously – Try just reading 3 past days of your drivel. I’m sure you would bore yourself to almost killing yourself. Nobody enjoys this, that’s why this space is dying.
That’s the thing. It doesn’t matter if they hit zero balance, as long as workers are legally required to contribute to the fund, it can’t go broke. The compensation will be worthless, but it will still be there paying out something.
This is why they raided social security and pension funds; it’s so easy to steal. Most people don’t understand the financials, so as long as current retirees are receiving payment, they can steal and be gone long before the stealing results in a much lower compensation level. So by the time they realize it was being robbed, the thieves will be long gone. That’s where we are heading with this pension issue in jersey. It won’t be the end of jersey, but it will be the end of those worker’s retirement and that’s something I do not agree with. They will still get their pension, but it will be so devalued, that it might be worthless due to all the stealing.
nwnj3 says:
June 18, 2016 at 1:14 pm
And I highly doubt the claim by the resident SENIOR financial analyst that he’s some kind of heavy hitter at his shop.
If he were, I assume that he would understand why all of this funds reach a critical point and implode well before they reach a zero balance. Liquidity etc. will be gone and an asset firesale would commence well before.
IDEA – Since plumpty won’t leave, how about the rest of us take a week or two hiatus? Let him post to himself and anon for 14 days. I’m taking the pledge. See you in July.
If you want to take it that way, so be it. I’m not trying to prove I’m smarter than anyone here. I’m not the one calling people idiots. I don’t think I’m smarter than anyone. I have been here for the discussion and exchange of ideas.
What pisses you people off, is someone has finally came to this blog and proved a couple of “all knowing” individuals wrong, and they don’t like it. So instead of attacking the argument, they attack the poster. I have been nothing but respectful to individuals on here, even when they call me idiot.
The Original NJ ExPat says:
June 18, 2016 at 11:51 pm
Implied: but no way in fcuking hell am I ever, Ever, EVER, EVER, EVER, EVER, EVER going to refrain from using ONE THOUSAND TIMES as many assholian paragraphes to attempt to prove it.
I’m not here to prove I’m smarter than anyone.
Space is not dying. Because the posters you like don’t post regularly, this place is dying? Give it a rest. So much hate inside you.
Who is your hero, rags? He ran away because he couldn’t handle me regularly calling out his outdated economic positions. The so called man of logic resorted to attacking the poster because he couldn’t attack the argument.
Tell it how it really is.
The Original NJ ExPat says:
June 19, 2016 at 12:01 am
Seriously – Try just reading 3 past days of your drivel. I’m sure you would bore yourself to almost killing yourself. Nobody enjoys this, that’s why this space is dying
So why can’t you skip over my posts? How the hell am I leading to the destruction of this blog by posting ideas nobody has to read or respond to?
The Original NJ ExPat says:
June 19, 2016 at 12:05 am
IDEA – Since plumpty won’t leave, how about the rest of us take a week or two hiatus? Let him post to himself and anon for 14 days. I’m taking the pledge. See you in July.
“He paused before asking, “What is it about warming that amplifies humans’ destructive instinct?””
http://mobile.nytimes.com/2016/06/18/science/patagonia-extinctions-global-warming.html?smid=tw-nytimesscience&smtyp=cur&_r=1&referer=https://t.co/6AKcsQKNdL
“In its famous paradox, the equation of money and excrement, psychoanalysis becomes the first science to state what common sense and the poets have long known – that the essence of money is in its absolute worthlessness,” Norman O. Brown
Happy Father’s Day to all the fathers.
A little advice for the “I hate the pumpkin” club. Don’t be so angry at someone for not embracing the same thoughts or ideas as you. The only idiots in the world are the people who call others idiots. Be open minded, and stray from being a bigot. Try to embrace a world where someone isn’t bashed and put down for their thoughts and ideas, and instead encouraged to think. Thinking is a good thing and should never be put down just because you don’t agree with the end results of that thought process. Remember, Copernicus was once ridiculed and called an idiot for thinking the earth wasn’t the center of the Universe. Had he listened to all the “know it all’s”, human civilization would have never advanced. No one should be ridiculed for thinking, thinking should be encouraged and embraced as opposed to being put down.
Everyone knows New Jersey is the center of the universe you idiot.
DC 3d printed driverless bus
https://www.youtube.com/watch?v=2ObmmxunFNg
joyce (1)-
Hear, hear. He’s not even an amusing troll anymore. I just check the thread to see if he’s taken over; if he has, peace out.
“grim do us all a favor and ban the mass posting / penny stock pumping idiot”
nwnj3 (8)-
The best financial people I know all relate their work to the laws of thermodynamics way more than any economic theory. That’s how I know Plumpty’s a hack.
And the very best financial people out there understand that today’s conditions really require an understanding of the process and phases of addiction.
plumpty (25)-
I’m only bigoted against paramecium like you. Choke on a piece of meat and die.
“Be open minded, and stray from being a bigot.”
Plumpty, I knew Copernicus. And you’re no Copernicus.
“Although is is probably fair to say that Hollande is just as economically illiterate as the vast majority of France’s political-bureaucratic nomenklatura (the mind of his conservative predecessor Nicolas Sarkozy was equally unblemished by even the slightest grasp of economics), he seems to have realized that business as usual is a dead end and apt to lead to country to ruin.
He has in other words understood something many of his clients – the people who voted him into power – still fail to understand. Kill the goose laying the golden eggs, and you’ll soon run out of golden eggs. The protests, and the fight between Hollande’s government and the unions is all about the distribution of wealth. They have seemingly forgotten that it has to be produced as well. Once the golden goose is dead, one is simply fighting over scraps.”
http://www.zerohedge.com/news/2016-06-19/how-welfare-state-dies
Pumpkin,
You are both oblivious and ignorant. That’s a scary combination. What used to make this blog great was how although many of us are at all different places in the political spectrum, we tended to debate issues with self-conjured logic and reasoning. If you want to argue the party lines on every single topic, you can go to pretty much any other site on the internet. This place was/is special because we all have axes to grind, but we share the stone relatively peacefully. I really, really, really don’t mean to be a prick, but you are completely oblivious of how annoying you are and to everyone here, except perhaps to the leader of the peabrains, Anon. I’m sure you would like us to explain what it is about yourself that is driving everyone away, but that would be a supreme waste of both of ours time. It is time to move on. If it would make you feel better to believe you are superior to all of us and know better than the rest of us. Go right ahead. Speaking on behalf of everyone here, you have our collective blessing. We have tried to point out your many flaws (Joyce has done an especially good job with this), but it’s like arguing with a drunk at last call. Here’s a hint. Its not your political or economic beliefs that annoy us. Do us all a favor and move on. Perhaps drop in from time to time to say hello and I told you so. Maybe make your triumphant return when wage growth occurs. But any time sooner and you really are not welcome. Sorry. Good luck, and stick with your wife because she must either be a saint or a direct descendant of Helen Keller. Toodles.
Everyone send lib a bottle, he killed the Great Pumpkin of njrereport.com. Figured I would post under my original handle one last time. Even though I was never welcome in this place, I’ll miss it. Later, guys. Good luck with everything. Remember, don’t listen to clot, no matter how dark it gets, the sun will come up. Life will find a way.
Please tell me you didn’t really invest in canned pancake batter.
Let’s celebrate the demise of pumpkin — much like tonight’s GOT episode – there will be death….
Where else can I get returns like this with on $44 in my brokerage account? You have to know how to trade these.
Please tell me you didn’t really invest in canned pancake batter.
I have a yuge portfolio. Wait until you see how my investments in butter syringes and syrup droppers explode. Combine this with batter in a can and what meth-head wouldn’t want complete pancakes with fixins’ in his kit? I’m not an idiot.
Where else can I get returns like this with only $44 in my brokerage account? You have to know how to trade these.
Please tell me you didn’t really invest in canned pancake batter.
Awesome ! Thank you for this article, as comprehensive and truly relevant usual!
Superb article and great passing blog too! Thank you for all your advice.
I do not take enough time to read you but every time I always learn a packet! I will use this summer to do all that! In short all this to tell you thank you for all these tips !!