From the WSJ:
In New Jersey and Long Island, Developers Eye Office-to-Warehouse Conversions
Peter Sudler didn’t make the decision to demolish one of his top-end suburban office buildings lightly. But he knew better than to fight the market.
“Rather than sit there with an empty office building I am repositioning it to warehouse distribution,” the developer said.
Sudler Cos. is tearing down a 25-year-old, 500,000-square-foot office building in Cranbury, N.J., to clear the way for 800,000 square feet of industrial space.
Not so long ago, replacing an office building with a warehouse wouldn’t have crossed the minds of many developers. Office space, after all, costs more to build and usually generates higher rents.
A red-hot warehouse market driven by the rise of e-commerce has changed that. Though the numbers are small, several suburban office properties in or near New Jersey and Long Island industrial neighborhoods have been redeveloped as warehouses.
“It was always the reverse, and we used to convert from industrial to office,” said Thomas DiMicelli, an executive vice president with brokerage firm JLL who works in the Long Island market. “Industrial values have gone up enough, it can make converting office buildings worthwhile.”
…
The sites also were in office markets that have been soft, brokers said. The vacancy rate for Long Island stood at 14.3% in the third quarter; New Jersey’s vacancy rate was 24%, according to JLL.By comparison, the vacancy rates for Industrial space are 1.8% on Long Island and 4.6% in northern and central New Jersey.
Prices for industrial space are soaring. The average sale price on Long Island is $96.80 a square foot, compared with $62.50 three years ago. In New Jersey, warehouses are going for an average of for $74.84 a square foot, compared with $63.78 in 2013.
Good Morning New Jersey
Good morning, Mike.
Twas burning the midnight oil, and I didn’t want this to get lost to the flip:
Lost [11/20; 10:00];
Ben, my point has always been to dismiss the notion that the pensions are “too lucrative” as the reason why the pension system is in crisis.
Lost [10/20 10:09];
Sad truth is that people are filled with jealousy.
Wow, such cognitive dissonance, just 9 minutes apart. Riddle me this, Mr. TooSmartForNJRER Senior Financial Analyst: If the pension is NOT “too lucrative”, why in the hell would anyone be “filled with jealousy” over it?
Moose,
You forgot to conclude by saying, “I have no further questions, your Honor.” :)
Defined benefit should be illegal, it’s a ponzi scheme.
In addition, it promotes these kinds of ‘gaming’ behaviors. Of course, why wouldn’t it? Everyone who can, would game it, and when questioned they would provide the same gloating response they all do, “I didn’t break the law” [shit eating grin].
Public officials can’t be trusted to run them, and the conflict of interest associated is enormous.
Anon …How happy will the special snowflakes who now riot in the streets be when they are asked to pay for those legacy pensions ….
You want to know who should run defined benefit pensions, and should control the contract negotiations for them? Wall Street.
In this situation, they would be the more trustworthy party. The fact that politicians have zero long-term accountability over pensions should specifically exclude them from any sort of fiduciary responsibility.
Why is no one in jail for NJ’s pension situation?
My point exactly.
12:07 that’s pretty standard and as far as most teachers are concerned there has to be some incentive for becoming a supervisor. Kind of job no one really wants. But that is another story. Once you lose those great summers off if you are a supervisor, you are job another poor slub in an office.
Pensions are great I say. In both public and private life if you are fortunate enough to have a pension I would say bully for you. I won’t go into details, but I’m hoping pensions are made whole.
Essex, the incentive is the 130k salary. That should be more than enough. Spending 3 years acting as a bureaucrat shouldn’t entitled you to double your pension payout and the system cannot handle it. The formula needs to be tied to your overall contributions. True…it’s a thankless job…but also one that probably doesn’t need to even exist in the first place.
This is some next level stupid right here. Does “long term” refer to the time in between shareholders meetings because that’s about the extent of Wall Street’s planning horizon. At least for its clients. You must have forgotten what they did with all those long term 30 year mortgages a few years ago.
But please, continue to advocate for term limits on politicians while complaining that those same politicians don’t have long term accountability.
“You want to know who should run defined benefit pensions, and should control the contract negotiations for them? Wall Street.
In this situation, they would be the more trustworthy party. The fact that politicians have zero long-term accountability over pensions should specifically exclude them from any sort of fiduciary responsibility.”
$130k isn’t enough to deal with all the shitstain parents and their entitled children especially in the upper income bracket towns. I do agree that superintendent is a job that can be easily eliminated, or most of them can. Tell you what, you break NJ’s hundred plus year love affair with home rule and consolidate New Jersey’s 566 towns and even more school districts and all their services into a more maneagble number and that will automatically eliminate the need for so many superintendents. I suggest starting with combining Millburn, Maplewood and Irvington. Go.
Essex, the incentive is the 130k salary. That should be more than enough. Spending 3 years acting as a bureaucrat shouldn’t entitled you to double your pension payout and the system cannot handle it. The formula needs to be tied to your overall contributions. True…it’s a thankless job…but also one that probably doesn’t need to even exist in the first place.
” It’s Brooklyn …with a bubble on it…”
https://www.youtube.com/watch?v=vKOb-kmOgpI
I say get rid of all of the local governments and just have county government. Then you’ll see some real tax savings. Regionalize the sh1t out of the state.
Yes, individuals like you, look to the outliers and then apply that to the whole. Keep beating up on people really not making that much money at all, and need this pension to survive in old age.
You know that if there was no pension, you could never get away with paying a teacher 50,000-60,000 after 12 years. No one in their right mind would sign up for that. So take away the pension, and you will get what you ask for. They will need to raise those salaries to at least 80-90. Too bad lib never does that accounting in his assessment that pensions are too lucrative.
“Sad truth is that people are filled with jealousy.
Wow, such cognitive dissonance, just 9 minutes apart. Riddle me this, Mr. TooSmartForNJRER Senior Financial Analyst: If the pension is NOT overly generous, why in the hell would anyone be “filled with jealousy” over it?”
You are paying teachers 30-50 thousand less per year due to those got damn pensions. Remember teachers make nothing for the first 15-20 years.
Who says nj is dead!! Warehouses baby!! Just think of all those warehouse jobs!!
You know that if there was no pension, you could never get away with paying a teacher 50,000-60,000 after 12 years.
My wife is a Catholic School teacher for well over 12 years and doesn’t make anywhere near that amount. And the kids are better educated. Just saying.
By the way, what is a pension?
9-month a year job. More days off than a politician. Unrivaled job security. Paid sick days on the way out at future salary.
I have nothing against teachers. I value them greatly. But teaching K-6 is pretty easy and extremely rewarding. Every single friend of mine who chose to teach did it for the desire to teach. Not for the pension. Not for the benefits. Not for the Summers off.
These benefits got insane due to political favor and endorsement. Not due to need or return on taxpayer investment. Freeze the pension, go to 401k model. Up everyone’s salary by 10K so educators can contribute to their 401k like us private sector workers do. Problem solved.
30k is a lie. Teachers start in the 50s now with a BA.
I say bring the payments forward and do it quarterly if that’s what Christie wants. At least that way the crisis is immediate and can be dealt with now instead of delaying it another 5-10 years until the checks stop showing up.
A sad, failed, inept, empty, divisive, dark and bitter presidency. A token president who will be known for nothing more than being the first black president. I would almost pity the guy if only he deserved it.
http://www.telegraph.co.uk/news/2016/11/21/barack-obama-ill-push-back-on-donald-trump-if-needed-to-defend-u/
Eddie,
I’d love to see that. Another step closer to civil war.
God bless your wife, but in reality, there are not enough people out there that would work for basically nothing like your wife is doing. You would sign up to earn and pay the cost of two degrees with the end result being a 40,000 dollar job for life. Give me a break. What idiot would do that? How long is it going to take just to break even on education investment? You talking nonsense.
Fast Eddie says:
November 21, 2016 at 9:20 am
You know that if there was no pension, you could never get away with paying a teacher 50,000-60,000 after 12 years.
My wife is a Catholic School teacher for well over 12 years and doesn’t make anywhere near that amount. And the kids are better educated. Just saying.
And I love defined benefit plans. They are such a boondoggle that they need lawyers from cradle to grave.
I’ll be in the last generation of lawyers to do this work because those plans probably won’t outlive me.
It’s ironic that I’m not a democrat because for decades now I’ve made my living off of their ideas. They’re the gifts that keep on giving.
Starting salary in GR is $52,500 I think. If it was a 12 month job, salary would be $65,600. A mere 22 years ago, I started my private sector career at $18K per year. The AVERAGE salary for my white color workers (non-management) is less than $65,600 (average tenure here is about 15 years). The starting salary is obviously way less than this. Of course, all teachers should be paid like CEOs.
Expat,
I know you’ve said in the past you think cops are human lie detectors, but with that pipe dream aside, they need an actual lawful reason to stop someone. Unless, the courts want to grant yet another heads they win tails you lose exception for their carelessness.
The Original NJ ExPat says:
November 20, 2016 at 11:15 pm
I would say that the person who made the mistake was the mouthy woman who would rather resist arrest than be separated from her drugs for too long.
“30k is a lie. Teachers start in the 50s now with a BA.”
My wajf has taught full time in NYC for two years now. Previously she did a two year stint as a substitute teacher in the same system. She is 60K base + completely free health insurance^ (she will be delivering our first child for $300 out of pocket) + silly pension benefits*.
* – “QPP: Tier I and II members are credited with 8.25% annually on QPP investments in the Fixed Return Fund; this rate has been in effect since July 1, 1988. ”
a fiscal riot at face value, but apparently the ship isn’t taking on water thus far. the downside is that we need to live close to the UWS to make things manageable.
^ – the union picks up her plan 100% – no monthly contributions – but coverage is for NYC 5 boros only.
when you do the numbers, factor for the stupid time off, it turns out I’m the side show.
What Christie should have done prior to beating down the benefits level was divide and conquer. Turn the union against itself. The union looks the other way on the abuse and padding. The suits skim off the top at the detriment of members. It also protects the dead beats who have no business being on the payroll.
The idea now that they will start funding the pensions at the full level without fixing any of the underlying flaws and abuse is a joke.
she isn’t in the 8.25% tier, they’ve since lowered it to 7%.
“TDA: Members who are serving in (or resigned/retired from) a title represented by the United Federation of Teachers (UFT) are credited with 7% annually on TDA investments in the Fixed Return Fund. This rate has been in effect since December 11, 2009; the previous rate was 8.25%. Other members are credited with 8.25% annually on TDA investments in the Fund; this rate has been in effect since July 1, 1988. ”
see… this trough is regulated.
Is fo the chiljen!
“prior to beating down the benefits level”
I like Ben’s idea that, even before insurance contributions were or weren’t raised, they should be offering plans to teachers that are more normal (or non-Cadillac if you will). But they can’t do that because of certain special interests that get rich off of those huge premiums.
Never understood why all public and private government entities were not forced to use ACA.
Chifi [8:46]
Bravo to SNL for poking a little fun at themselves.
Snowflakes have been living in “The Bubble” their entire lives.
What exactly do your white collar workers do to justify pay on par with teachers? Do they manage 160 individuals? Do they collect and use data to improve efficiency? Do they grade 160 things or more every day? Do they play the part of a social worker when needed? Do they play the role of a parent when needed? Do they write up a detailed plan every day of exactly what they will be doing all day? Do your workers teach 160 people every day? Do your workers have to deal with kids all day and all the baggage that comes with that? Most of all, do your workers manage people they can’t fire? You know what it’s like managing someone you can’t fire and still have to hit all expectations for your boss? Yes, it’s such an easy job. Way overpaid. Sign me up.
STEAMturd questioning the gender of Hillary’s Meaty Cankle fluid. says:
November 21, 2016 at 9:34 am
Starting salary in GR is $52,500 I think. If it was a 12 month job, salary would be $65,600. A mere 22 years ago, I started my private sector career at $18K per year. The AVERAGE salary for my white color workers (non-management) is less than $65,600 (average tenure here is about 15 years). The starting salary is obviously way less than this. Of course, all teachers should be paid like CEOs.
How does a union protect a dead beat? Management protects deadbeats, stop blaming unions. It’s not hard to get rid of a teacher if you want to get rid of them. Stop spreading the myth.
nwnj3 says:
November 21, 2016 at 9:53 am
What Christie should have done prior to beating down the benefits level was divide and conquer. Turn the union against itself. The union looks the other way on the abuse and padding. The suits skim off the top at the detriment of members. It also protects the dead beats who have no business being on the payroll.
What was the purpose of this whole post…to demonstrate how bad nj teachers have it compared to NY?
abeiz says:
November 21, 2016 at 9:52 am
I think you guys misread my post. This is what I said. Yes, they start in the 50’s, but they don’t move up for 15 years. Stay around the same starting salary for 15 years.
“You are paying teachers 30-50 thousand less per year due to those got damn pensions. Remember teachers make nothing for the first 15-20 years.”
“30k is a lie. Teachers start in the 50s now with a BA.”
Of the 90,000 teachers in NJ about 5,000 make over $100k.
Their salaries are public record
Wierd. Posting Ron Paul’s website here gets you thrown into moderation.
I think posting a Breitbart link get’s you thrown into outer space.
Wierd. Posting Ron Paul’s website here gets you thrown into moderation.
So is Soros funding police assassinations now?
Bring all of the payments forward. When it becomes clear that the all in cost of the rank and file is 120-130/hour watch the system implode.
The main article reminds me of all the NNJ 1970’s indoor tennis clubs that closed in the 1980’s, I guess? Some of them were converted to office space. Do any of those original structures still exist or were they all torn down and converted to traditional office or retail construction? I just checked Google/Bing maps and the club that used to be at the top of Route 10 in Denville looks to be all strip mall now.
There’s still one in Sparta.
$130k isn’t enough to deal with all the shitstain parents and their entitled children especially in the upper income bracket towns. I do agree that superintendent is a job that can be easily eliminated, or most of them can. Tell you what, you break NJ’s hundred plus year love affair with home rule and consolidate New Jersey’s 566 towns and even more school districts and all their services into a more maneagble number and that will automatically eliminate the need for so many superintendents. I suggest starting with combining Millburn, Maplewood and Irvington. Go.
lol, so what do you suggest paying them, $150k? Is that enough. Overrated. If you eliminate the position, they don’t have deal with them, the teachers do. And guess what, we do anyway. As far as that goes, usually difficult parents are few and far between. They are just the ones you hear from 99.9% of the time.
Can we take this as a typical attitude of the education bureaucracy toward their customers? Teachers union and bureaucracy blame the parents in the Abbot districts for not caring, then blame the parents in the higher performing districts for caring too much about their services. In government services, “the customer is always wrong.” Because they don’t actually have to earn the customer’s revenue.
“$130k isn’t enough to deal with all the shitstain parents and their entitled children especially in the upper income bracket towns.”
Footstool [08:39];
$130k isn’t enough to deal with all the shitstain parents and their entitled children especially in the upper income bracket towns.
Ironic, isn’t it, that those “shitstain parents and their entitled children especially in the upper income bracket towns” think and vote almost exactly like you do?
per Eddie: “I have nothing further for this witness, your honor.”
Statewide 2013/14 salaries.
http://www.njspotlight.com/tables/sklsals14/
Gary, look into Pension for your wife, back when I was on my parish school board, at least in Arch of Newark, there was in fact a pension plan for teachers.
http://www.rcan.org/sites/default/files/files/Lay%20Pension%20%20Plan%20FAQ.pdf
No One [11:54];
Based on my brief and fleeting interactions with a well-known Abbot district I have come to the conclusion that an organization doesn’t rise to “Abbot” level of incompetence by accident — it would appear to be the result of a well-practiced craft of incompetence.
Abbot just made sure they were well-paid for their efforts.
What exactly do your white collar workers do to justify pay on par with teachers?
My workers are paid on a 37.5 hour work week. They do not get paid lunches. They are often required to work weekends during our busy season and don’t get overtime until they hit 40 hours. Copays on insurance are $25/35 in/out of network and employee pays $613/month for family coverage. We have 5 paid holidays off a year and 3 floating holidays. No accruing. Use em or lose em. 80 hours vacation until 5 years where it’s 120 and 160 after 10 years. 401K match, on first 3%, sh1tty plan with high fees and few options. Job security? Only if you work in one of our two Indian facilities. My crew of 20 is down to 5 now. All jobs offshored.
What do we do? We make sure there are no printing/publishing issues in the financial data of electronic filings with the SEC. We perform the same work on most of the ballots for the State of California and Michigan. Similar work is performed on various prospectus’ for the fund and health insurance industry where we must comply with HIPAA standards. One tiny mistake and the cost of reprint can be upwards of $100,000. Our print runs often run into the 100s of 1000s. This is not a commercial printer. If you need one million books shipped with inkjetted addresses with 100% accuracy within 24 hours, we can make it happen. You’ll pay royally for it. Are we educating children? No. Is the work hard, often occurring over holidays when you are stuffing your face, time-sensitive, massive pressure, nearly always perfect? Yes! Is there a pension? No! And we continue to find the right employees to fit the mold.
Religious institution’s pensions are not covered by the Pension Guaranty Corporation. So if it goes belly up, you are doomed. They were structure on a per institution basis, not on a “national or regional or diocese church bases”.
A lot of ex and employees of the presently defunct Catholic Hospitals and institutions found out the hard way. If you were an employee and not covered by a union plan or some sort of 403b and had “those” religious pension you got screwed overnite with one letter.
It got so bad the IRS issue a rule to those plans, requiring the few still around to send annual notices about the plan’s lack of guaranty.
Pumpkin. How much should a teacher be paid?
Lib, that’s all you need to know. Your workers are getting screwed royally and they should have a pension. Why are they getting taken advantage of? Because they don’t unite and instead work against each other in the race to the bottom. When your company needs the job done asap, these workers should grab your company by the balls by not doing the job unless they are rightfully compensated and not treated like some machine. All your workers could do this, but choose not to do it, this is why they are victims instead of workers. This is happening to a lot of people out there, and they need to take a stand or continue to get walked all over. People got trump in, so it’s a start, but they have to take this fight head on with the people treating them in this manner.
“Only if you work in one of our two Indian facilities. My crew of 20 is down to 5 now. All jobs offshored.”
1987 Condo,
Thanks. This year, they actually implemented a 401K. Why this wasn’t done years ago is beyond me.
They are often required to work weekends during our busy season and don’t get overtime until they hit 40 hours.
Overtime pay? I didn’t know that existed in the private sector? Geezus, I’d be f.ucking rich!
#Pizzagate trending….fcuked up. Fake news?
Some people are still paid hourly. It’s the greatest gig ever. At times, my employees take home more than I do. But I don’t work 80 hours a week anymore either. Been with my company for 18 years. Average tenure of my employees are nearly 15 years. Wouldn’t find many companies out there, public or private, who treat their workers with the same compassion, respect and flexibility that they do at my company. If I were a teacher and my kid ended up with a brain tumor, once my FMLA ran out, I’d be screwed. The care will take 16 months from beginning to end. FMLA is only 12 months. Think I’d have my job back if I lead the strike which gave my company a bad reputation. Where do you think all the money is going Lost? I frequently see our CEO is in the office when I arrive at 6:45am. I have never seen him leave the office at the end of the day. If it weren’t for him and some recent really large strategic moves (selling of assets) we’d be out of business. I suppose we should unionize. Shame we can’t buy any politicians in our line of work the way the teacher’s union does.
S&P 500 hits all time high. Trump! Trump! Trump!
This is not getting painful to read again Pumpkin. Hillary lost so, please go away again.
Shame we can’t buy any politicians in our line of work the way the teacher’s union does.
I wish they did. Truth is they don’t. They threw their entire membership under the bus with zero pushback on healthcare/pension contributions effectively freezing everyone’s wage for a good 6 or 7 years. They pay themselves hundreds of thousands of dollars and take our money and donate it to charities of their choice. I’ve read through the entire NJEA tax return. I see lavish salaries and charitable donations to “non profits” where former NJEA executives now sit on the boards of.
I’m pretty sure the NJEA’s top priority is to prevent a “right to work scenario” because then their pool of cash just completely dries up. I’m sure it was a backroom deal between politicians and the union leadership to not fight them on anything, throw their membership under the bus, and leave those funds untouched.
I’m still waiting for these wonderful benefits of being in the union other than cutting them over $1000 to watch them negotiate pay decreases for me.
They spend an awful lot on left-leaning television commercials every campaign season. If that’s not buying favor, then I’m not sure what is.
Impressive engineering.
https://www.youtube.com/watch?v=nV8ij1gK-ck
N.J. teachers union to Dems: No campaign cash for you until pension amendment vote
http://www.nj.com/politics/index.ssf/2016/08/njea_tells_dems_no_money_until_vote_on_pension_ame.html
What were you saying Ben? Can you send me their annual report? Looks like you have to be a member to access it. Not surprised.
Ugh. “is getting painful again”
Pumpkin stop wishing it is the year 1960, or 1970 or even 1980. Pensions in the private sector aren’t coming back. As Grim and many many other respected economists have said it a Ponzi scheme.
When I worked in a union for three years, it seemed as if their #1 priority was to maintain a wage scale booklet that minimized the impact of performance on pay, and maximized the impact of years in a position. They repeatedly lectured their members on the evils of connecting performance to pay, and how bad bonuses were. Thus the highest paid people were mediocrities who stayed in their positions for 20 years, showed almost no initiative, and would have been lucky to find any job in their field at a non-union shop, forget about a job that would pay them what they were receiving. So the people with talent and initiative almost allways left in 2 to 3 years.
Gee, it’s amazing how puzzy feel off the face of the earth. Not a tweet to be found! Maybe (S)he moved to Canada?
I found it.
Looks like they spend 6 million a year on communications and 4 million on government relations. There’s also a 10 million vague heading in their budget titled “orginizational projects that went from 400K in 2015 to 5,000K in 2016 to 10,000K in 2017. Wonder what that is?
https://www.yumpu.com/en/document/view/55861318/hip-hop/51
Lib, the problem is globalization. Your workers and business now have to compete with businesses using slave labor. So if your company decides to be the good guy, then they are out of business because their competition continues to use slave labor. My point is that ALL workers should start sticking it to their boss till they start bringing back jobs and paying what is deserved based on the cost of living. Form a movement that you are sick of it. They have pretty much started it by electing trump, but they need to push even more. Every worker should come out to their town halls and protest at the same time. Carry the momentum from this election and fight to bring back jobs and a quality of life that you can feel proud of.
Most people just b!tch and never do anything about the problem. Here in lies the problem.
STEAMturd questioning the gender of Hillary’s Meaty Cankle fluid. says:
November 21, 2016 at 1:02 pm
Some people are still paid hourly. It’s the greatest gig ever. At times, my employees take home more than I do. But I don’t work 80 hours a week anymore either. Been with my company for 18 years. Average tenure of my employees are nearly 15 years. Wouldn’t find many companies out there, public or private, who treat their workers with the same compassion, respect and flexibility that they do at my company. If I were a teacher and my kid ended up with a brain tumor, once my FMLA ran out, I’d be screwed. The care will take 16 months from beginning to end. FMLA is only 12 months. Think I’d have my job back if I lead the strike which gave my company a bad reputation. Where do you think all the money is going Lost? I frequently see our CEO is in the office when I arrive at 6:45am. I have never seen him leave the office at the end of the day. If it weren’t for him and some recent really large strategic moves (selling of assets) we’d be out of business. I suppose we should unionize. Shame we can’t buy any politicians in our line of work the way the teacher’s union does.
Lost
Why don’t you start a company and pay a more fair wage, simply out-compete these fools. Create the jobs you say are possible. Go, do it.
Interesting comments:
The election of Donald Trump as president of the United States showed the “massive return” of the people, the leader of France’s right-wing National Front party, Marine LePen, told CNBC on Monday.
She claimed to be “very happy” about Trump’s election, calling Americans’ choice “courageous and advantageous”.
“I think that the United States will regain its image which had become very damaged, especially by the administration for which Hillary Clinton worked. The United States cannot have the image of warmongers, with all the potential consequences it could have for our respective countries,” Le Pen warned.
“So, that the United States has once again regained an image as an organization of peace is beneficial for us all,” she surmised.
http://www.cnbc.com/2016/11/21/donald-trump-victory-shows-power-is-slipping-from-the-hands-of-the-elites-frances-le-pen.html
Lost – since you are probably the largest shareholder in NHMD (Batter Blaster) why don’t you take over the board and make sure those employees are all unionized all get guaranteed pensions, even if it means taking the fat cat owner like you to the cleaners to get what is coming to them.
http://investorshub.advfn.com/Nates-Food-Co-NHMD-15865/
I heard everyone at NHMD got canned.
Can someone ask if that individual is sticking it to his boss? And standing up? And demanding a pension?
Juice, 15:20, lol.
Lib, love the financial printers. Overwrought Banking Analysts’ wet dream. Sure it’s different now (haven’t been since before EDGAR) but some really good memories there. Those guys earned their pay 22x over.
If you really want me to date myself I’ll tell you I remember being in drafting sessions where the senior guy would be frantically thumbing the hard copy of the OAG (remember those) to determine the last flight to DC so we could jam some Analyst on a flight with two boxes of paper to get to him the SEC with docs to get time stamped that day.
What’s our GDP? Now divide that among the population and please explain to me why we can’t create jobs or raises? Where the fu@k is it all going? How come it’s not being shared? I know the answer, the globalists are sucking it dry. There is no need for the type of income inequality that this country experiences. NOT ONE REASON WHATSOEVER THAT THIS MUCH MONEY SHOULD BE ALL AT THE TOP.
grim says:
November 21, 2016 at 2:47 pm
Lost
Why don’t you start a company and pay a more fair wage, simply out-compete these fools. Create the jobs you say are possible. Go, do it.
Get Lost.
This article is from 2006, but it indeed gets it. Explain this grim. If the share of aggregate income going to the “highest-earning 1% of Americans has doubled from 8% in 1980 to over 16% in 2004”, who are they taking this from? And is it sustainable?
“The one truly continuous trend over the past 25 years has been towards greater concentration of income at the very top. The scale of this shift is not visible from most popular measures of income or wages, as they do not break the distribution down finely enough. But several recent studies have dissected tax records to investigate what goes on at the very top.
The figures are startling. According to Emmanuel Saez of the University of California, Berkeley, and Thomas Piketty of the Ecole Normale Supérieure in Paris, the share of aggregate income going to the highest-earning 1% of Americans has doubled from 8% in 1980 to over 16% in 2004. That going to the top tenth of 1% has tripled from 2% in 1980 to 7% today. And that going to the top one-hundredth of 1%—the 14,000 taxpayers at the very top of the income ladder—has quadrupled from 0.65% in 1980 to 2.87% in 2004.
Put these pieces together and you do not have a picture of ever-widening inequality but of what Lawrence Katz of Harvard University, David Autor of the Massachusetts Institute of Technology and Melissa Kearney of the Brookings Institution call a polarisation of the labour market. The bottom is no longer falling behind, the top is soaring ahead and the middle is under pressure.”
http://www.economist.com/node/7055911
Remember, this was written in 2006, and you can pretty much say that the “trump” and “bernie” movements are a response to this income inequality problem. Article is spot on for being written in 2006.
“It is not clear whether this sclerosis is increasing: the evidence is mixed. Many studies suggest that mobility between generations has stayed roughly the same in recent decades, and some suggest it is decreasing. Even so, ordinary Americans seem to believe that theirs is still a land of opportunity. The proportion who think you can start poor and end up rich has risen 20 percentage points since 1980.
That helps explain why voters who grumble about the economy have nonetheless failed to respond to class politics. John Edwards, the Democrats’ vice-presidential candidate in 2004, made little headway with his tale of “Two Americas”, one for the rich and one for the rest. Over 70% of Americans support the abolition of the estate tax (inheritance tax), even though only one household in 100 pays it.
Americans tend to blame their woes not on rich compatriots but on poor foreigners. More than six out of ten are sceptical of free trade. A new poll in Foreign Affairs suggests that almost nine out of ten worry about their jobs going offshore. Congressmen reflect their concerns. Though the economy grows, many have become vociferous protectionists.
Other rich countries are watching America’s experience closely. For many Europeans, America’s brand of capitalism is already far too unequal. Such sceptics will be sure to make much of any sign that the broad middle-class reaps scant benefit from the current productivity boom, setting back the course of European reform even further.”
Lost income inequality largely has to do with globalization, and automation holding wages down and the ever growing gap between skilled and unskilled labor. The people with marketable skills are receiving more pay and those who don’t have the special marketable skill are finding themselves automated out of work. Not only do you have to be in the right field of work you have to be an expert in your field to demand high pay. A lot of the problem is with offshoring, lower level white collar work has been decimated, everything from IT to business analysis, to law, and accounting at the menial level is being pushed overseas. I personally know engineers who are convinced that the “brown invasion” in IT has kept their wage stagnant(i.e no increase in 5 or 6 years).
Who ever said that the US was entitled to the standard of living we had, and that you are trying to return to.
We only had what we had, because the productive capacity of Europe was destroyed.
Equivalency today, we would need to decimate China in a World War III.
You think we would win?
No need to destroy. But you got to take care of your people. Is foolish to let your people died off and suffer in the pursuit of an ideology.
Trump is a response to the belief that ideology overrides the “Golden Rule – aka be your brothers’ keepers” espoused by all religions. Ignore it at your own peril.
To make it simple for those Randians/Free marketeers. If your brand of ideology does the job required to keep a society together and undoubtedly will require some system that will provide for the need of “Brothers’ Keepers” than another ideology will rise to kick your ideologies behind. Competition between ideologies to see who does best for caring.
With the public voting for winner, either by votes, guns or feets on the way out.
grim says:
November 21, 2016 at 4:29 pm
Who ever said that the US was entitled to the standard of living we had, and that you are trying to return to.
We only had what we had, because the productive capacity of Europe was destroyed.
Equivalency today, we would need to decimate China in a World War III.
You think we would win?
By the way – see if the Chinese Communist Party thinks like your nitwit statement.
The CCP ruling elites, knows very well – they better produce and provide or their behind is gone. Their mindset is China 1st.
Same with Putin, Russia 1st.
Why is it that in the USA, until Trump got here – it seems to have been – freemarket / globalization/corporate state ideology 1st, and the American citizen way behind
I don’t agree with this, I’m not sure I’m right, but my thought process doesn’t accept this. If what you say is true, that the destruction of foreign capacity/economy was the result of our economic gains; then how did foreigners pay us for our products if their economic capacity was knocked out? That would mean no jobs, so exactly what kind of market would they represent? A market with no access to jobs to buy foreign products at a marked up level?
Not buying it. Sticking to the blame being put on globalization. The globalists threw a bunch of workers into the same competition with u.s. workers in the hopes to lower labor costs and increase profit. Based on all the data, that’s exactly what was/is happening. They have also successfully lowered labor costs and increased profit by replacing workers with automation. I put all the blame for this on the individuals at the top. They are the only ones with the means to control this.
grim says:
November 21, 2016 at 4:29 pm
Who ever said that the US was entitled to the standard of living we had, and that you are trying to return to.
We only had what we had, because the productive capacity of Europe was destroyed.
Equivalency today, we would need to decimate China in a World War III.
You think we would win?
Post of the day.
“Why is it that in the USA, until Trump got here – it seems to have been – freemarket / globalization/corporate state ideology 1st, and the American citizen way behind”
Missed this earlier, but totally agree. If it quacks like a duck, looks like a duck…….
jcer says:
November 21, 2016 at 4:28 pm
Lost income inequality largely has to do with globalization, and automation holding wages down and the ever growing gap between skilled and unskilled labor. The people with marketable skills are receiving more pay and those who don’t have the special marketable skill are finding themselves automated out of work. Not only do you have to be in the right field of work you have to be an expert in your field to demand high pay. A lot of the problem is with offshoring, lower level white collar work has been decimated, everything from IT to business analysis, to law, and accounting at the menial level is being pushed overseas. I personally know engineers who are convinced that the “brown invasion” in IT has kept their wage stagnant(i.e no increase in 5 or 6 years).
How can you have “freemarket / globalization/corporate state ideology” all at the same time? It looks like you’re just throwing around buzzwords.
Not Grimskys says:
November 21, 2016 at 4:44 pm
By the way – see if the Chinese Communist Party thinks like your nitwit statement.
The CCP ruling elites, knows very well – they better produce and provide or their behind is gone. Their mindset is China 1st.
Same with Putin, Russia 1st.
Why is it that in the USA, until Trump got here – it seems to have been – freemarket / globalization/corporate state ideology 1st, and the American citizen way behind
Are you being snarky or sincere? If you are indeed being sincere, those so called “buzzwords” go hand in hand as vehicles for the lowering of American living standards. They all come before the needs of the worker/citizen and I think that’s the point he was trying to make.
joyce says:
November 21, 2016 at 5:13 pm
How can you have “freemarket / globalization/corporate state ideology” all at the same time? It looks like you’re just throwing around buzzwords.
If you had the most wealth the world has ever produced, why would you give it away?
“Explain this grim. If the share of aggregate income going to the “highest-earning 1% of Americans has doubled from 8% in 1980 to over 16% in 2004”, who are they taking this from?”
I’ll bite, donkey.
They didn’t ‘take it’ from anyone. During the time that they doubled their income share GDP rose 6x. They received proportionately more, but the entire economy moved ahead.
Moreover, the period in question entailed one of the most productive and innovated times in world history. It is not unexpected that the inventors and propagators of that change would disproportionately benefit. Quite frankly, I would have expected them to more than double their share.
Lastly, comparing the top 1% to everyone else – let alone the top 1/100 of one percent – to prove ‘income inequality’ and that the balance of the population is ‘worse off’ is a specious argument at best. It is the functional equivalent of saying the vast majority of professional athletes are not athletes at all because they don’t post Michael Phelps numbers in their respective sports.
Does a reputable organization actually pay you to analyze data? Again, please give me some idea of your employer. Any corporate taking your work is a screaming short.
Lost Pumkin clearly well off his meds again. Or just another manic troll swing.
Lib – Canned… ICWYDT
Bs! This really pisses me off. Did the population remain static? If all boats were lifted, why did stagnating wages take place for the middle class including a lower standard of living? And why are you okay with such a small part of the population taking in so much of the gains? Think about what you are saying. Let’s hear you defend this bs that an elite few show have it all. I’m all for compensating them above the rest, but not to the point where it’s just obnoxious and hurting innocent people that have no choice but to partake in this game of capitalism that has been unfairly stacked against them.
“They didn’t ‘take it’ from anyone. During the time that they doubled their income share GDP rose 6x. They received proportionately more, but the entire economy moved ahead.
Moreover, the period in question entailed one of the most productive and innovated times in world history. It is not unexpected that the inventors and propagators of that change would disproportionately benefit. Quite frankly, I would have expected them to more than double their share.”
“Let’s hear you defend this bs that an elite few show [sic] have it all. I’m all for compensating them above the rest, but not to the point where it’s just obnoxious and hurting innocent people”
How generous of you to deign to come down off your throne and deem it acceptable to ‘compensate’ these people for their wealth creation, to your standard of acceptability.
I’m sure they will be thrilled to know that an internal, back office, cost center donkey approves.
Eat what you kill. But then donkeys aren’t carnivores now, are they?
Take up the challenge thrown down by others here stepping out of their comfort zones to create something beyond the scope of normal compensation. Balls enough to even try? Or just easier to cast aspersions and jealousy on those who do?
Lefty, I have no problem with people taking risks and being rewarded for it. I have a problem when people kill it by selling out American jobs to make a quick buck. That’s the part you seem to miss, this income inequality we are seeing is coming directly from the working class’s pockets. They never got the raises or the wage growth because it went to the top. GDP grew, but they didn’t get a piece of it. If you think this is an attack based on jealousy, you have it all wrong. It doesn’t have to be this way. You don’t have to throw workers under the bus to increase profit.
Steam,
I tried posting it but it gets stuck in mod.
looks like we hit peak pumpkin today. I’ll try again tomorrow.
Lefty, this right here summarizes why I predicted wage inflation would come, aka the great pumpkin. The economy would eventually crash if it didn’t. This experiment is over.
“For too many decades there has been a mindset among elected officials and the corporate sector that our place in the global economy is to import and consume and to own the means of production … somewhere cheap, whether it’s China or Mexico or Bangladesh, and then importing the products and selling it to wealthy American consumers,” Lee said. “The problem with that business strategy is that at some point the American consumers aren’t wealthy anymore because you’ve taken all the good jobs away.”
Amen!
“It may be a bit far off, but the onetime outlier economist says she can almost envision a time when trade deals and economic policy are made with a different set of priorities.
“There’s maybe some point at which having products so cheap hasn’t really been a boon to the American economy because people just buy junky things and they break and then you buy another junky thing and it breaks and then they all end up in the landfill,” Lee said. “So you could certainly imagine a different kind of economic structure where you bought fewer things but nicer things, they lasted longer, they were better quality, your community had more resources, you had better schools, you had nicer parks, you had better roads because you’re paying taxes in the community where you live and you’re supporting things.””
Here is the new slogan the left is running up the flagpole for the mid-terms:
To those without a college educations who choose to not live near the ocean: You’re stupid, worthless, and we hate you and your family. But you’re not deplorable if you vote for us.
Joyce – Do you work for CNN? Don’t twist my words to suit your needs. I *believe* what I’ve stated is:
1. Cops get lied to a lot. Disagree?
2. You curry favor with them quickly by standing out from the lying crowd for telling an obvious and provable truth that on the surface wouldn’t seem to serve you well. (“Do you know how fast you were going, Mr. Expat”, Me:”I was averaging about 80mph but I probably hit 85mph a couple times.”
I don’t think either of these past statements of mine have anything to do with this situation. This is just mouthy non-compliance to begin with, I’m not sure if she kicked or kneed the officer after. Either way, my belief is that you do not have a right to ignore what a police officer tells you to do nor do you have the right to declare yourself warrant-free, so fcuk off officer until you prove it to me. Legally, I may be wrong, I just know what works best for me in similar situations.
Expat,
I know you’ve said in the past you think cops are human lie detectors, but with that pipe dream aside, they need an actual lawful reason to stop someone. Unless, the courts want to grant yet another heads they win tails you lose exception for their carelessness.
Lost his gourd [19:29];
Bs! This really pisses me off.
The world doesn’t care and neither do I. Your kind were dispatched handily 40-odd years ago. https://youtu.be/pdR7WW3XR9c
Moose, don’t get me started on Thatcher.
The answer to that one is while the rising economic tide will raise all boats, those that can’t afford a boat will drown. Those that can get themselves a small boat will drown inthe wake of the bigger boats.
May that woman burn in He11!
How to be a politician 101.
Don’t do this!
https://www.yahoo.com/news/potential-trump-homeland-security-chief-accidentally-reveals-agenda-210705539.html
I hope you all will focus on this as much as you focused on the Clinton Foundation.
http://www.politico.com/story/2016/11/donald-trump-business-conflict-questions-231719
Too funny not to share.
https://twitter.com/RobMyers1968/status/800902879456460800
The comments are just like a few months ago. They take no time at all to read once you scroll past the Fresh Prince of Pumpkin Highway drivel.
Trump Co will have a microscope on it.
http://corrupt.af/
Flabmax – President Trump is going to forego his annual salary, I think $400K per year would pay for a couple Trump Towers junior condos.
Too funny not to share.
https://twitter.com/RobMyers1968/status/800902879456460800
Its just going to keep coming and coming.
http://www.nytimes.com/2016/11/21/business/with-a-meeting-trump-renewed-a-british-wind-farm-fight.html?_r=0
http://www.mcclatchydc.com/news/politics-government/election/article116310233.html
Wouldn’t it be cool if the Trump kids build a new Trump Tower somewhere in Kentucky and President Trump spends most of his time there? I would love to see the presidential press pool have to sit by the gold Elevators in Frankfort for 4 years.
This just occurred to me. Romney can’t have a cabinet position. Schumer et al will ask “phony and a fraud” questions. Turnaround at VA? Maybe.
“The only security of all is in a free press. The force of public opinion cannot be resisted when permitted freely to be expressed. The agitation it produces must be submitted to. It is necessary, to keep the waters pure.” –Thomas Jefferson
http://newcenturytimes.com/2016/11/21/trump-threatens-press-in-closed-door-meeting-here-are-the-terrifying-things-he-said/
Details of the Japanese meeting are coming out via Japan.
http://money.cnn.com/2016/11/18/media/donald-trump-shinzo-abe-video/
I’ll just leave this here for Eddie Ray.
http://money.cnn.com/2016/11/18/news/donald-trump-wall-street-journal-liquidate/index.html
As to Trump U, the students will get 25c on the dollar after the lawyers have been paid. I think Trump will end up writing it off against taxes anyway. I need to check that, with a tax lawyer, but as usual, it hard to find a good one.
Sorry Gluteus – no such thing anymore. Press is pay as you go.
The only security of all is in a free press
That’s why its no longer practiced by the MSM, they know on which side their bread is buttered. Infowars.com Baby!
The force of public opinion cannot be resisted when permitted freely to be expressed.
I did a quick search and didn’t find it, but I recall your past post saying cops can tell when someone is lying … and pretty sure I responded by disagreeing and/or laughing at that statement. When the election ended, I thought you’d give up saying that everyone who disagrees with you works for CNN or the Clinton Campaign. Sadly, I was wrong.
To respond to your points, I disagree that cops get lied to a lot. Also, you do have a right to ignore what a police officer tells you to do unless it was a lawful order. 99% of the things out of their mouths are not lawful orders. Barring the courts providing another get out of jail free card for police who make egregious “mistakes” – legally, you are wrong.
The Original NJ ExPat says:
November 21, 2016 at 10:24 pm
Joyce – Do you work for CNN? Don’t twist my words to suit your needs. I *believe* what I’ve stated is:
1. Cops get lied to a lot. Disagree?
2. You curry favor with them quickly by standing out from the lying crowd for telling an obvious and provable truth that on the surface wouldn’t seem to serve you well. (“Do you know how fast you were going, Mr. Expat”, Me:”I was averaging about 80mph but I probably hit 85mph a couple times.”
I don’t think either of these past statements of mine have anything to do with this situation. This is just mouthy non-compliance to begin with, I’m not sure if she kicked or kneed the officer after. Either way, my belief is that you do not have a right to ignore what a police officer tells you to do nor do you have the right to declare yourself warrant-free, so fcuk off officer until you prove it to me. Legally, I may be wrong, I just know what works best for me in similar situations.
Whew…looks like Trump is surrounding himself with hate group leaders. It’ll be like a day camp in Dachau before too long. Sarcasm Off.