From Curbed:
In 2017, NYC foreclosures reached its highest level since 2009
Foreclosures have been on the rise across New York City for a while now but in 2017, the number of cases hit its highest peak in eight years.
In their annual foreclosure report, PropertyShark disclosed that last year, 3,306 homes in NYC were scheduled for auction. This represents a 58 percent year-over-year increase and is the highest level witnessed since 2009. What’s even more alarming, the number of foreclosures has practically doubled in just two years: in 2015 there were only 1,762 foreclosure auctions (Since auctions are constantly rescheduled or postponed, the report only focused on stats that include first-time foreclosures). To put it all into perspective, PropertyShark has created this interactive foreclosure map.
Queens and the Bronx both saw high increases in the percentages of homes in foreclosure, at 40 percent and 44 percent year-over-year increases, respectively. Once again, Queens had the highest number of homes in foreclosure in all of NYC with 114 homes scheduled in 2017. The highest concentration of foreclosure cases in all of NYC came from zip code 10469, which covers Baychester, Pelham Gardens, and parts of Williamsbridge.
In Brooklyn, first-time auctions rose drastically from 898 in 2016 to 1,260 in 2017, with Canarsie and East New York logging the highest number of foreclosures within the borough.
While Manhattan didn’t see much of a year-of-year increase in homes scheduled for auction last year, it did bring forth the biggest residential foreclosure in the city’s history when the owner of a full-floor condo at One57 defaulted. A $22.5 million apartment at One57 also hit the auction block last year and was actually the first foreclosure to hit Billionaire’s Row.
Staten Island had the most dramatic year-over-year increase and was up a staggering 134 percent from 2016. There were 428 first-time foreclosures scheduled in 2017, compared with just 183 in 2016.
Good Morning New Jersey
Good Morning Mike
First first
Not first
My grandmother’s house has been in foreclosure since 2009. They only got the notification from the sheriff to be evicted last year. My one uncle and her moved out. Sheriffs came later that year. My other uncle is now squatting in it. Turned the place into a scene from hoarders. He literally goes around and picks up trashed tricycles and other garbage and tosses it on the front lawn. The back of the lawn has all his old vending machines from the 80s that he used to operate prior to Pepsi/Coke taking over the entire industry. His strategy is to make the place look so bad that no bank would ever want to try to sell it. It appears to have worked. Guy never had a real job in his life and has no income.
Fascinating. You know. Poverty.
What the heck…the market’s down today. TNX creeping up at 2.59.
Could be a head fake, similar to the double-top we hit last March (matching the Dec 2015 high). Here is some contraindication of imminent inflation:
Import and Export Prices
Released On 1/10/2018 8:30:00 AM For Dec, 2017
Despite a sizable 2.0 percent rise in petroleum, import prices rose only 0.1 percent in December which falls short of Econoday’s low estimate. Import prices excluding petroleum fell 0.2 percent in a disappointing result that will heighten concern over the lack of inflation.
December’s export prices are likewise weak, down 0.1 percent overall with agricultural prices down 0.4 percent. Prices for the nation’s finished exports remain dead flat, up only 0.1 percent for capital goods in the month, down 0.1 percent for vehicles with consumer goods up 0.2 percent.
What the heck…the market’s down today. TNX creeping up at 2.59.
I meant (matching the Dec 2016 high)
House down the street from me has also been in process for years. Owners were trying to sell it in 2010 but about 2 years after that, they and their pair of shiny red Range Rovers disappeared for good. Someone repaired a couple of missing roof shingles a few years ago and mows the lawn (and I’m sure does other maintenance as needed) but otherwise its been empty for maybe 4-5 years. I remember it hit the pre-foreclosure list back then but haven’t heard anything about it since. Its a very nice, perfectly rentable, or saleable, house with great views. The CEO of a Manhattan headquartered firm you all know has his 10 acre weekend home right next door— so his daughter can ride her horse. He also has great views…of the empty house (though really, it still almost looks lived in except the lawn doesn’t get mowed every week and some of the 7 acres has been turned into meadow).
Lib, look at 2 yr as well. Synchrony advertising all over the web for 2% 12 mo CD.
Agree with your comment the other day about the next market downturn making the past few big ones look like a walk in the park although I though it might come in ’18 it may have gotten pushed back w tax reform. Seeing company guidance before and after tax reform now with a positive impact to no ones surprise. NK from Minn FED still wants rates to remain low with QT determine where they settle.
Solid state batteries for electric cars. Fiskar talking smack and other cos claiming big breakthroughs in the next couple of years like 1 minute to charge enough for 150 mile range and 9 min for 500 mile range. Some have said Geely through Volvo intends to drive the electric car industry with the objective of remaking and dominating the auto industry. Are used cars with IC engines the canary in the coal mine?
Fracked oil from N. America is light sweet, correct? Am I correct we export it as its not the right stuff to refine for auto gas. as least in the US?
Fracking yields natural gas too. I thing more NG than oil in most cases.
A house a few doors down from us emptied when we moved in 5 years ago, over the last couple of weeks a dumpster has come and gone. I guess someone picked it up off of auction. A few other foreclosures have recently been sold in the neighbor hood. Nice to see them starting to move.
light sweet is the same as WTI (West Texas Intermediate) and is what North America uses. Brent Crude is what Europeans refine. WTI used to be more expensive than Brent but all of the WTI produced by fracking in the US has caused WTI to usually be much cheaper than Brent nowadays.
Fracked oil from N. America is light sweet, correct? Am I correct we export it as its not the right stuff to refine for auto gas. as least in the US?
Right now WTI is almost $63.50 and Brent is nearly $6 higher at $69.11. This high spread makes it attractive export US WTI crude, but only for the higher price it commands over the domestic market. Here’s a good article explaining the current pricing dynamics:
https://oilprice.com/Energy/Oil-Prices/Can-WTI-Hit-70-In-2018.html
I was wrong, apparently, thinking that US refineries were mostly set up for WTI. According to the article more are set up for Brent:
Most U.S. refineries are designed for international grades of oil like Brent which is heavier and contains more sulfur than WTI.
OK, this makes sense. US East Coast refineries use Brent unless the WTI-Brent spread gets large enough, and is projected to stay large enough, to switch over to WTI. Oklahoma and Gulf refineries use WTI.
http://www.worldoil.com/news/2017/11/1/eia-widening-brent-wti-price-spread-unlikely-to-change-east-coast-crude-oil-supply
http://www.nationalreview.com/article/455245/resistance-nullification-insurrection-secession-economy-may-quell-trump-critics
Perhaps not by coincidence, the Congress just passed tax-reform legislation that does not allow local and state taxes above $10,000 to be deducted from federal tax returns. For a state that has among the highest sales taxes, the highest property tax assessments in the nation, and highest state-income-tax brackets (rising above 13 percent on the top brackets), the new law doubles the effective state tax rate. Given that there are a number of low- or no-tax states in California’s neighborhood, and given that the California Democratic party is incapable of reducing the state income rate, the new law may encourage some affluent retirees to flee the state. It would not take many to undermine a key source of state revenue. Note that of some 40 million residents, only about 150,000 individual or household tax returns account for about half of all California income-tax revenue — itself nearly 40 percent of all state income. Note also that progressive California is understandably worried that its affluent tax-paying golden geese may be sacrificed, even while the vast majority of its population will receive sizable tax cuts from the new federal law. Damning Salvation In tit-for-tat fashion, will the state seek more nullification measures to push back against the federal government? Legislators are now dreaming of redefining state income tax as deductible “charitable contributions” in order to reinstate federal tax deductions. That pathetic gambit would land an individual filer in the IRS pokey. Again, California legislators apparently do not realize that any other state could do the same and thereby nullify the entire federal tax system. If they persist, no doubt the Trump Department of Justice would have good grounds to seek indictments against state officials for conspiracy to commit federal income-tax fraud.
Democrat party loves poverty. It’s an essential element of their platform. The more poverty you have, the more discontent you sow, the more votes they get and the handlers get all of their wonderful social experiments along the way. It’s no wonder they favor importing 3rd worlders en masse.
Dirty little secrets about the DACA folks. 80% of them are Mexican. They might be high achievers by that standard but by the immigrant standard? Not exactly. Look at the data yourself.
I think that acknowledging something and trying to fix it is different than snuggling up to it…
Trump deserves credit for Korea talks, says President Moon
http://www.bbc.com/news/world-asia-42636101
Hahaha, good one. Menendez and his ilk are humanitarians.
Murphy going to work. Hope he proves all you naysayers wrong.
https://www.northjersey.com/story/news/watchdog/2018/01/10/murphy-asks-resignations-senior-nj-transit-employees-letter-says/1018417001/
D,
All this article shows is how messed up our income inequality is in our economy. Why would you ever want to rely on such a small group of people. Too much power in a few hands, spread that capital out.
“It would not take many to undermine a key source of state revenue. Note that of some 40 million residents, only about 150,000 individual or household tax returns account for about half of all California income-tax revenue — itself nearly 40 percent of all state income.”
If you want more people to pay more instead of a small minority, spread the capital out. Simple as that.
You are so right pumps. So why are Democrats like Josh Gottheimer and Phil Murphy coming up with tax fraud schemes to protect rich landowners?
You’d think they’d be happy that we’re spreading the wealth around.
As if republicans are any different. Just admit that the elite class work together to stick it in your a$$.
Husband/Wife testimonial Privilege?
https://pagesix.com/2018/01/10/huma-abedin-and-anthony-weiner-call-off-divorce/
Sh1t for brains. Every governor cleans house at these patronage mills and puts in their own cronies. His transportation chief was the head of the Turnpike Authority under Corzine but who quit the day CC took office. Try talking about something you know about.
10 year treasury auction was “stellar”, according to Rick Santelli. 2.69 bid to cover (BJ Pumps – do you know what that is? Of course you don’t, because it is a finance term) 2.597% yield
The rise in yields over the last two days seems overblown to me, not the end of the bond bull that is as old as BJ Pumps. Bought TLT this morning on the contradiction between long rates and Import/Export prices.
All of the talking heads are calling for the end of low yields – my clue that the end isn’t here yet.
Agree. As ChiFi said a while ago (I think). When yields hit $2.80, then we’ll talk.
We might even have a little hint of that deflation/disinflation/climate change once again(maybe I’m mixing metaphors?).
I have this chart I should post showing 10 year yields all the way back to the 1970’s. I’ve plotted all these blue dotted “fake news” trend lines where talking heads probably proclaimed the end of the bond bull market each time. There are lots and lots and lots of those lines, all wrong. If you don’t look very long term, long term, medium term, and short term on macro stuff, you’ll probably be wrong about 95% of the time.
Got one my daughters one of those new $29 batteries for her iPhone 6s at the Apple store, the other daughter with a 6 has her battery on order. Meanwhile, the battery in my Samsung flip-phone still lasts 5 days between charges.
Lib,
check this out.
“New administrations typically seek resignations from certain employees before taking over, and Murphy’s transition issued similar letters to other departments of state government Tuesday.
However, at NJ Transit, Murphy is asking for a large number of senior workers to leave at a time when the agency is under intense scrutiny for a series of lapses.”
Seems like he is pretty focused on fixing NjTransit. Isn’t that what you want? He constantly calls it a disgrace. I think he means business.
pumps……politics.
I think every customer of NJTransit hates it so it’s an easy target to hit.
Deblazio talks big as well. He’s had 4 years and the subway might be worse than MTA. They all talk loudly.
Deblasio has been a joke since the first day he said he was running for mayor. No idea how he was elected. Fair to compare Murphy to him?
In the Summer of 1975 a few friends and I lobbied successfully for a trip from Rockaway to Cape May by bicycle, self contained. We didn’t camp, but stayed at friends and relative’s houses along the way. Maybe we called our parents every 1-2 days. Our ages were 16, 15, 15, 14.
I remember going to Europe in 1987 with a different three buddies, we were all around age 27 or so. We didn’t attempt to communicate with anyone except those we met in person in Belgium, Amsterdam, England, Ireland, and Scotland for three weeks straight. I told my girlfriend three weeks prior which flight back to EWR we would be on, that was it.
It’s a shame that young people will likely never have that level of independence again if they grow up in a first world country with helicopter parents.
Jcer,
Sure, but they also ran the system into the ground for so long, this is prob not just political talk. Something has to be done.
re: “first world country with helicopter parents”
Heard a story the other day on the radio about a 11 yr old boy not allowed to go to the restroom in a public place without mommy.
Isn’t it ironic? Huge power failure at CES right now.
BJ Pumps Cliff Notes – CES == Consumer Electronics Show
At 18 years old I hiked the Appalachian Trail for two weeks solo (well, not really, with my dog). I told my parents I would eventually find a pay phone and we could figure out an extraction plan. My parents balked at the idea initially, saying they wouldn’t allow it and that I couldn’t take the family dog. I countered with, “I’m an adult, and you can certainly keep me from taking the family dog, but you can’t keep me from hitch-hiking to the Delaware Water Gap and hiking my myself.” They were boxed in. They dropped me off, picked me up, and allowed me to take the dog.
Really can’t make this stuff up!
Just pick winners and losers!
https://patch.com/new-jersey/wayne/s/gby0s/trump-saves-florida-not-jersey-shore-from-offshore-oil-drilling?utm_source=alert-breakingnews&utm_medium=email&utm_term=weather&utm_campaign=alert
I concur. 2.61-2.63 is hard resistance, the yield has to break through decisively and stay there.
Agree. As ChiFi said a while ago (I think). When yields hit $2.80, then we’ll talk.
I wonder if anybody sells 10 year yield in a can?
Just spray out a coupon.
Pointless outrage, BJ Pumps. There will always be an oil slick eminating from Seaside due to the Guido hair products of bathers from the Bronx and Passaic County.
Really can’t make this stuff up!
Just pick winners and losers!
https://patch.com/new-jersey/wayne/s/gby0s/trump-saves-florida-not-jersey-shore-from-offshore-oil-drilling?utm_source=alert-breakingnews&utm_medium=email&utm_term=weather&utm_campaign=alert
Oil Rigs off Mar A Largo?
No different than the Ted Kennedy’s objection to the wind farm off Hyannis Port. That wind farm like the proposed oil rigs off new Jersey has yet to be built….
By winners, do you mean the states that get those jobs?
Sh1t for brains. Every governor cleans house at these patronage mills and puts in their own cronies. His transportation chief was the head of the Turnpike Authority under Corzine but who quit the day CC took office. Try talking about something you know about.
I was friends with the guy who was #2 in the state department of health under Corzine. When he lost the election, they tried hiding him in some other department. Worked for about 6 months until they got to him. Guy graduated college and was immediately thrust high up the state government pipeline. Landed at Horizon immediately after and now collects a huge salary just because of his original appointment and who he’s friends with.
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I once scored 4 touchdowns in a single game for Polk high.
My call is relative to equity valuations and the general area where interest rates can begin to become a headwind. People say the equity markets are overvalued, but I tend not to think so until the UST10 gets closer to 300 bps……
Two Times Head and Three Secret Degrees I said…in a spray can says:
January 10, 2018 at 3:11 pm
I concur. 2.61-2.63 is hard resistance, the yield has to break through decisively and stay there.
Agree. As ChiFi said a while ago (I think). When yields hit $2.80, then we’ll talk.
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2X, You are a late boomer. I’m about a decade younger than you, an early Xrs.
Most helicopter parents are early Xrs like me. They are like that because, as a group the Gen Xrs, the earliers’ in particular, were the most under-cared, under-parented generation ever. 1981 -highest divorce on record (mines bit the dust too).
Our parents were the problematic early boomer batch. We raised ourselves like wolves pack. You raised your independence flag and your parents were there to bail you out in case. If we raised ours, no body noticed or cared, or even remember us. So the helicopter parents are an over-reaction to the lack of parenting of the generation.
2x, this is us having fun
https://youtu.be/s4ejxfhWiJA
https://youtu.be/2z0TJk8IuWs
https://youtu.be/dP4EcwJr3aY
Grim please post
They officially put up the new LOWER speed limit on my street.
Blood money.
When we took all the long hanging fruit and destroyed our environment, what will all that money do? It’s compketely idiotic, and pretty much suicide, if we don’t find a way to get off fossil fuels.
Blue Ribbon Teacher says:
January 10, 2018 at 3:32 pm
By winners, do you mean the states that get those jobs?
*Low hanging fruit
Damn autocorrect. Wouldn’t even correct it, but trying to save myself from the wrath of expat.
Opponents of the $15 minimum wage movement have said that a rise in wages would result in job loss for fast food workers. Jack in the Box (JACK) agrees.
CEO Leonard Comma told the ICR Conference in Orlando that “As we see the rising costs of labor, it just makes sense,” according to Business Insider.
The minimum wage is increasing in 18 states this year, including California where the fast food restaurant is headquartered.
Rivals McDonald’s (MCD) and Wendy’s (WEN) have already announced plans to add automated kiosks to thousands of stores.
4:12 Al?
Pumps,
Speed limit is now 65?
It’s as simple as this, folks. Actions have consequences.
“Unless we solve the UK housing crisis, we’re going to have Jeremy Corbyn as prime minister,” says Richard Buxton, one of the City’s best-known fund managers and chief executive of Old Mutual Global Investors. “Capitalism is not working for the under-40s, so they’re voting for social!sm.”
Not going to lie, I have this huge smile on my face after all the sh!t you and expat gave me about the speed limit. Winning!
Hold my beer says:
January 10, 2018 at 6:04 pm
Pumps,
Speed limit is now 65?
Comment from that same ft.com article. Funny stuff!
“”Higher taxes under Labour are a certainty — but the burden is likely to fall disproportionately on higher-income taxpayers.”
Ha. F$ck you. I would call that a long overdue correction.”
In all seriousness I am happy for you they lowered the speed limit wheter people abide by it is another story. But with police enforcement it should help.
Not two times – That’s a reasonable and informed analysis. In addition to your reasoning, and unlike my upbringing, most Moms work from the get go. This sets up the situation where (professional) Moms and Dads always have their work life on their mind and deal with their kids in the same voice they use at the office. Parents are no longer authoritarian, they merely suggest alternative behaviors to their children using their “inside” voice.
2X, You are a late boomer. I’m about a decade younger than you, an early Xrs.
Most helicopter parents are early Xrs like me. They are like that because, as a group the Gen Xrs, the earliers’ in particular, were the most under-cared, under-parented generation ever. 1981 -highest divorce on record (mines bit the dust too).
Our parents were the problematic early boomer batch. We raised ourselves like wolves pack. You raised your independence flag and your parents were there to bail you out in case. If we raised ours, no body noticed or cared, or even remember us. So the helicopter parents are an over-reaction to the lack of parenting of the generation.
Congratulations BJ Pumps – Now you can spend the rest of your days feeling 5mph less stupid.
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When does the bus stop go up in front of pump’s house?
In front? I assumed he lived in a bus stop.
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I saw that Gluteus was back to share his echo chamber with us.
Glutes: The ABA saying “not qualified” is like Huffpost saying it. I’ve been well aware of the ABA’s liberal bias long before I even applied to law school. Hell, even my uber-liberal undergrad professors said as much. And their history of calling GOP nominees “not qualified” goes back decades. Further, consider the searching examinations and reasoning behind the ABA’s decisions: “work habits” and lack of trial experience. Yet the ABA has passed on plenty of democratic nominees that had no trial experience and I have never heard of “work habits” being used as a criteria. I expect in the current environment, ABA will start interviewing former colleagues to see if male nominees ever made some women feel uncomfortable by commenting on their dress, or mad by telling a joke. Seriously, if they aren’t already doing this, they will, and they will use that as the basis for “not qualified”.
I am reminded of the fact that the ABA considered Obama appeals court nominee Goodwin Liu well qualified yet during his testimony, he displayed open contempt for the Constitution and made clear that he felt it was like the Pirate’s Code (“they’re more like guidelines”). The GOP senators were literally agog at his answers and the Dems didn’t muster any sort of defense. I applauded his honesty even though he was committing nomination seppuku on live television. Fortunately he is not in a lifetime appointment to the federal judiciary.
Then there was my former colleague, Mary Smith. Lovely woman yet Obama nominated her to head the DoJ Tax Division even though she had ZERO tax experience and ridiculously little (if any) trial experience. Not a judicial appointment, I know, but just as influential, if not more so, during the president’s tenure.
IMHO, the ABA is the liberal lawyer’s version of the NRA. That’s why, to conservative lawyers and lawmakers, the ABA’s endorsement ranks up there with MSNBC’s and Huffpost’s endorsement. The ABA is also an organization struggling for relevancy. Explains perhaps why the ABA is so desperate for membership that they welcoming me as if I signed up even though I never did. Or perhaps their marketing material is deceptive and they are thinking I will fall for it? Quelle surprise!
But push your meme; it’s one more legal topic where it is more than apparent that you are talking out of your ass–I’ve been following judicial nominations since before you could code.
Jobless claims up, Producer prices down. Oh where oh where did my inflation go? Ten year at 2.566%
PPI-FD
Released On 1/11/2018 8:30:00 AM For Dec, 2017
Yesterday’s weakness in import and export prices did in fact point to wide weakness in today’s producer price report where the headline, at minus 0.1 percent in December, is 3 tenths below Econoday’s consensus for the first decline since August 2016. Ex-food and ex-energy is also at minus 0.1 percent and when also excluding trade services, which were very weak, prices came in at plus 0.1 percent. Year-on-year rates, which had been on the rebound, all fell back with total prices down 5 tenths to 2.6 percent.
Service prices are less sensitive to change than commodity prices and December shows wide weakness with the trade services component down a very steep 0.6 percent for the second straight decline and the third in the last four months. Goods prices were unchanged in December with key readings here showing a 0.7 percent decline for food, no change for energy and a 0.3 percent decline for finished goods with light trucks unchanged, cars up 0.2 percent and computers down 0.7 percent.
Down is definitely the theme of this report which points squarely at disappointment for tomorrow’s consumer price report where expectations are already soft, at an Econoday consensus gain of only 0.1 percent and 0.2 percent for the core (ex-food and ex-energy). The absence of inflation is a stubborn theme of the economy.
BTW, Bill Gross quantified his call that we have begun a bond bear market. He said it wouldn’t be a Colombian [dark roast] bear market, but rather a Decaf bear market. He said he expected the 10 year to close 30 basis points higher at the end of the year than it began.
“Libturd says:
January 10, 2018 at 5:38 pm
Opponents of the $15 minimum wage movement have said that a rise in wages would result in job loss for fast food workers. Jack in the Box (JACK) agrees.”
Stu, I saw yesterday that Red Robin is eliminating its busboy positions in areas where the min. wage was hiked. The bussing duties will be handled by other staff.
This is becoming big in restaurants and supermarkets where margins are razor thin. But now big retail (e.g., Walmart and one other whose name escapes me) is going to cashierless checkouts.
Supporters of the wage hikes never disputed that it would result in job losses. What it will do is give wage hikes to some (who will presumably vote democratic in thanks) and put others on welfare (which has always been a democratic voter incubator).
Yesterday Waste Management. Today Wal-Mart. This is happening so frequently now that Chuck and Nancy have stopped criticizing companies for doing it.
https://www.cnbc.com/2018/01/11/walmart-to-boost-starting-wage-give-employees-bonus-after-tax-bill.html
Pee all over this one FlabMax:
https://nypost.com/2018/01/10/the-trump-dossiers-credibility-is-collapsing/
Fabmax got served by Nom
California prides itself on being first with progressive laws on climate change, labor rights and marijuana. In 2018, the Golden State’s “firsts” are defensive – bold proposals and legal maneuvers to protect citizens from Donald Trump.
State leaders have pushed legislation and lawsuits to circumvent and undo Trump’s agenda on immigration, the environment, internet freedom and other liberal causes. One of the most consequential victories came Tuesday when a judge in San Francisco blocked the Trump administration’s plan to end a program that allows 800,000 undocumented people to study and work in the US.
At the same time, activists have also launched grassroots campaigns to shield residents from the White House’s attacks – and to pressure local Democrats to do more to mobilize the largest state against the president.
The dossier was never credible except within the Walls of Oblamer’s corrupt DOJ. The fix was in. Is suspect this conspiracy was the “insurance policy” spoke of in the corrupt FBI agent’s text messages.
I’ve been saying for a while that there will be indictments. How far reaching they go is an open question but you are seeing more and more desperation the left as the risk of their party being dismantled grows.
This is a massive, massive abuse of power way beyond the IRS targeting scandal. Nothing in my lifetime compares and I think it goes beyond Watergate.
They attempted to undermine the entire electoral process in my mind. There is no more egregious thing you can do in a Democratic system. Unleash hell.
Brilliant. That will really help California when they come to the feds looking for federal dollars to fund infrastructure projects etc.
https://www.youtube.com/watch?v=GWEUxjXR8Lo
@molratty
Jan 10
More
Obama: I have the power to implement a discretionary policy by memo.
Trump: I don’t think the executive has that power. I’m undoing the policy by memo.
The Court: You do have the power, so you can’t undo the policy you have the power to implement.
Nonsense.
clot inspired youth:
MOTHER RUSSIA – Call him thirsty. A young man somehow stole an armored vehicle Wednesday morning, drove it through a forest, sped through a small town and smashed the tank through a window of a convenience store. Why? To steal a bottle of wine, Reuters reports. Of no surprise to anyone, the suspect was found to be drunk, as he was nabbed with his treasured bottle. Russian media notes the shop was not licensed to sell alcohol that early in the morning, perhaps the reason why this drunk didn’t just use the front door.
Grim: Just read a really nice description about your Silk City Distillers and bourbon in the winter 2018 Edible Jersey magazine.
Congrats! And best wishes!
” [California] State leaders have pushed legislation and lawsuits to circumvent and undo Trump’s agenda on immigration, the environment, internet freedom and other liberal causes. One of the most consequential victories came Tuesday when a judge in San Francisco blocked the Trump administration’s plan to end a program that allows 800,000 undocumented people to study and work in the US.”
Thoughts:
1. Cannot wait for the shoe to be on the other foot. Laying down firm precedent that the Executive can’t use orders. I’m almost rooting for the Dems to win the Presidency in 2020 so those red state AGs can jam up a Dem admin REAL HARD.
2. In the meantime I want see a constitutional crisis over this issue. These items are the purview of the Exec, maybe Congress. Certainly not the Judiciary. Too bad immigration is already resolved. If that were still open I’d love to see the admin instruct INS to ignore the court order and Trump to tell the agents he’ll offer pardons on the spot. He heads to SFO, with a bunch of Secret Service and maybe a few Marines, invites all the press. Joins an agent in the booth and declines a person or two. Smiles nicely for the cameras and any local LEOs and say “This order will be enforced. Or, please, I encourage you to arrest me”. I would pay to see that.
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“When price gains get downright ridiculous, it’s referred to on Wall Street as a “melt-up,” perhaps because these self-perpetuating rallies tend to be followed by meltdowns. This is the uncomfortable prospect that many investors are contemplating. For those of us old enough to remember the dot-com boom and bust, it’s tempting to assume the market will never become that irrationally exuberant again. Of course, many current market participants were in grammar school then. Old-timers need to consider that the market’s collective memory may be shorter than their own.
Jeremy Grantham, co-founder and chief investment strategist of asset manager GMO LLC in Boston, who’s been following markets for five decades, is an old-fashioned value investor who finds himself in the “interesting position” of looking beyond valuation metrics, instead studying previous melt-ups to try to figure out how long the current party will last. The takeaway, by his analysis, is that the S&P 500 would need to surge as high as 3,700, or 34 percent, in 18 months to qualify as even the tamest “classic bubble event” in history.
Grantham defines a bubble as having “excellent fundamentals, euphorically extrapolated.” His description is sounding more familiar every day. Earnings growth for S&P 500 companies is forecast to accelerate to almost 15 percent in 2018, according to estimates compiled by Bloomberg. Economic indicators are strong and beating estimates; the average GDP forecast for 2018 has risen to 2.6 percent, from 2.1 percent on Election Day 2016. Credit markets are healthy. Business, consumer, and investor confidence is off the charts.”
https://www.bloomberg.com/news/articles/2018-01-11/are-you-missing-out-on-the-great-market-melt-up
C’mon liberal puzzies, spin this one.
https://finance.yahoo.com/news/walmart-raise-starting-wage-11-125957919.html
That story makes the Democrat party sad Eddie. When people become self dependent they stop voting for them. They need to backfill with illegals for all of the working class voters who they used to count on.
“Credit markets are healthy. Business, consumer, and investor confidence is off the charts.”
Usually such stories like this appear frequently right before the crash. At the rate we are going, we’ll need the DOW26K hat by Wednesday of next week. We haven’t seen this kind of price action since post financial crisis recovery.
Would the Red team members here stop celebrating for 5 minutes. When this market crashes as a result of/in spite of Trump’s haphazard policymaking. The Dems and their social agenda will be back with full force.
Not one democrat voted for the tax cut and one company after another is announcing bonuses, pay raises, another possible raise in February due to modified tax rate and the change in the tax credit for children. But the left is the party of the poor and down-trodden.
Think this had to do with the raises?
Sam’s Club In Mount Olive Closes Abruptly
History Rhymes folks. Does fog a mirror ring a bell?
“Petal, a financial technology upstart that aims to provide credit cards to young people and others who lack a credit history, has raised $13 million, it said on Wednesday.
The Series A round was led by billionaire Peter Thiel’s Valar Ventures. The funds will be used to roll out the credit card nationwide; it is currently only available via waitlist, where it has attracted some 40,000 people.
Petal is among a new crop of companies that are roping in non-traditional data in their underwriting to approve millennials, immigrants and other consumers who are typically turned away from banks and lenders because of their limited credit histories.
Petal relies on a potential borrower’s cash flow: How much money they make, how much they spend on rent, bills, groceries and other things and how much they save.
The company gathers this information by requesting access to a person’s bank account. It also consider’s a person’s credit score and history when available.
The Petal Visa credit card offers interest rates between 13.99% on 24.99% on credit limits ranging from $500 to $10,000. It also touts zero fees.
“There’s a tremendous need for access to affordable credit if you’re brand new to credit,” says co-founder and CEO Jason Gross.
The Consumer Financial Protection Bureau has estimated that 45 million Americans — one in five of the adult population — either lack a credit history altogether or have insufficient history to generate a credit score. A credit score, which is a three-digit figure calculated from the information on credit reports from Experian, Equifax and TransUnion, measures a person’s borrowing history.”
https://www.forbes.com/sites/laurengensler/2018/01/10/petal-series-a-credit-cards-millennials-no-credit-score/#6f762f36aaeb
Not going to lie, I’m getting scared. Doesn’t help that a tip shared with me the other day has all the big dogs scared. As appealing as it sounds, can’t let emotion take over. Timing the market is usually a loser’s game. Just have to ride this and adjust when necessary. I almost let emotion overcome me, but my bro-in-law talked some sense into me and reminded me of what happens when you try to time the stock market.
Libturd says:
January 11, 2018 at 1:44 pm
“Credit markets are healthy. Business, consumer, and investor confidence is off the charts.”
Usually such stories like this appear frequently right before the crash. At the rate we are going, we’ll need the DOW26K hat by Wednesday of next week. We haven’t seen this kind of price action since post financial crisis recovery.
MOUNT OLVE, NJ — The Mount Olive Sam’s Club closed its door for the last time on Wednesday, Mount Olive Mayor Rob Greenbaum said on Facebook. The closures appear to affect locations nationwide.
“I was just informed that as of today, SAMS CLUB, Mount Olive is closed for good due to a business decision of the company,” Greenbaum said. According to his post, the pharmacy will remain open through Jan 27.
A recording when you call the store confirms that the location is permanently closed, effective Jan. 11. It has been removed from the company’s website as well.
The closure took employees by surprise, with one telling the Daily Record they were informed of the closures during a 9 a.m. meeting on Thursday. Employees were told about the meeting late Wednesday night.
Wait…Stock Markets can crash?
“Not one democrat voted for the tax cut and one company after another is announcing bonuses, pay raises, another possible raise in February due to modified tax rate and the change in the tax credit for children. But the left is the party of the poor and down-trodden.”
Mark my words. This is going to end terribly. Much like a casino in AC with Trump’s name on it.
Fear not. When it does, the familiar mantra of “we had no idea this would happen,” will once again be the statement of the decade.
“Not one democrat voted for the tax cut and one company after another is announcing bonuses, pay raises, another possible raise in February due to modified tax rate and the change in the tax credit for children. But the left is the party of the poor and down-trodden.”
Mark my words. This is going to end terribly. Much like a casin0 in AC with Trump’s name on it.
Fear not. When it does, the familiar mantra of “we had no idea this would happen,” will once again be the statement of the decade.
Grim – comments is mod
This looks normal.
https://finance.yahoo.com/chart/^IXIC#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
https://tinyurl.com/y6tw8g48
Mid 1980’s….Regan Tax cuts. Coincidence?
Libturd says:
January 11, 2018 at 2:12 pm
https://tinyurl.com/y6tw8g48
Play with the date range….make it say…..1950 to 2000
Looks similar to me no? “normal” even
If not, stock up on Ammo, MRE’s and Shiny. Either way you’re covered.
Really can’t stand putin….
https://www.bloomberg.com/news/articles/2018-01-11/putin-says-north-korea-s-kim-won-this-match-on-nuclear-weapons
D,
The late 70’s were a horrible time for anything but roller skating. Trumpy inherited a pretty hot economy.
“Inherited”….meh that’s debatable. Are you trying to tell me it didn’t heat up because investors and businesses didn’t anticipate tax reform?
Trumpy inherited a pretty hot economy.
Really?
A stock chart on a log scale makes more sense for long time horizons.
AT&T: $1k bonuses for 200,000 U.S. employees
AAON: $1k bonuses for 2,000 employees
AccuWeather: Year-end bonuses for 450-500 employees
Aflac: Increase 401(k) match from 50% to 100% on the first 4% of compensation plus a one-time $500 contribution to every employee’s 401(k)
American Airlines: $1k bonuses for ~127,600 employees
American Bank: $1k bonuses for 60 employees
American Savings Bank: $1k bonuses for 1,150 employees
Americacollect: $300-$500 bonuses for 250 employees
Aquesta Financial Holdings: $1k bonuses for 95 employees
Associated Bank: $500 bonuses for all hourly employees
BB&T: $1,200 bonuses for 27,000 employees
Ball Ventures: $100 bonuses for each year worked for all employees
Bank of America: $1k bonuses for 145,000 U.S. employees
Bank of Hawaii: $1k bonuses for 2,074 employees
Bank of the James: Increase base wage to $15 per hour for employees serving more than 1 year; increased employee vacation days
Bank of the Ozarks: Incentive bonus plan for 2,300 employees of up to $1,200
Boeing: $300 million for “workplace of the future” facilities, infrastructure, workforce development, charitable giving
Canary LLC: Hire more employees
Carl Black Automotive Group: Bonuses for 500 employees based on years of service
Central Pacific Bank: $1k bonuses for 850 employees
Citizens Bank: $1k bonuses for 12,500 employees
Clayton Distillery: Upgrade facilities
Comcast: $1k bonuses for 100,000 employees
Comerica: $1k bonuses for 4,500 employees
Commerce Bancshares: $1k bonuses for 3,450 full-time employees; $250 bonuses for eligible part-time employees
Community Trust Bancorp: $1k bonuses for full-time employees; $500 bonuses for part-time employees
Copperleaf Assisted Living: $200-$600 bonuses for 175 employees
Dayton T. Brown: $400 bonuses for 210 employees
Delaware Supermarkets: $150 extra bonuses for 1,000 non-management personnel
Denizens Brewing Company: Reinvest tax savings into the business
Emkay: $1k bonuses for full-time employees
Ennis: $500 bonuses for 2,200 employees
Express Employment Professionals: $2k bonuses for more than 200 non-executive employees
Fifth Third Bancorp: $1k bonuses for 13,500 employees
FirstCapital Bank of Texas: $500 bonuses for 197 employees
First Farmers Bank and Trust: $750 bonuses for full-time employees
First Financial Northwest: $1k bonuses for non-executive employees
First Hawaiian Bank: $1,500 bonuses for 2,264 employees
First Horizon National Corp.: $1k bonuses for 4,000 employees
Gate City Bank: $1k bonuses for 538 non-management personnel
Gulf Coast Bank & Trust: Increase base wage to $12 per hour
HarborOne Bank: $500 bonuses for 600 employees
IAT Insurance Group: $3k bonuses for 700 employees
Inland Northwest Bank: $500 bonuses for 200 employees
Kansas City Southern: $1k bonuses
Melaleuca: $100 bonuses for each year worked for 2,000 employees
National Bank Holdings Corporation: $1k bonuses for employees earning <$50k
Nationwide: $1k bonuses for 29,000 employees
Navient: $1k bonuses for ~6,566 employees
Nelnet: $1k bonuses for 4,100 employees
Nephron: 5% raise for 640 employees
OceanFirst Bank: Increase base wage to $15 per hour
Ohnward Bancshares: $1k bonuses for 260 employees
Pinnacle Bank: $1k bonuses for 1,007 employees
Pioneer Credit Recovery: $1k bonuses
PNC Financial Services Group: $1k bonuses for 47,500 employees
Regions Financial Corporation: Increase base wage to $15 per hour
Royal Hawaiian Heritage Jewelry: Open more stores, hire more employees
Rush Enterprises: $1k bonuses for 6,600 employees
Sinclair Broadcast Group: $1k bonuses for 9,000 employees
Southwest Airlines: $1k bonuses for 55,000 employees
Stifel Financial: $1,500 bonuses for 7,000 employees
Summit State Bank: $2k bonuses for 78 employees
SunTrust: $1k incentive for employees that complete company’s financial fitness program
TCF Financial: $1k bonuses for full-time employees; $500 bonuses for part-time employees earning less than $100k
Territorial Savings Bank: $1k bonuses for 247 employees
Texas Capital Bank: $1k bonuses
Total System Services: $1k bonuses for 11,500 employees
Travelers: $1k bonuses for 14,000 employees
Turning Point Brands: $1k bonuses for 107 employees
US Bancorp: $1k bonuses for 60,000 employees
Unity Bancorp: $750 bonuses for all employees except executive management
Walmart: Increase starting wage to $11; expand maternity and paternal leave benefits; one-time cash bonus for eligible associates of up to $1k
Washington Federal: Provide 5% increase in addition to normal merit increase for employees earning <$100k; invest in employee training programs
Waste Management: $2k bonuses to 34,000 eligible employees
Wells Fargo: Increase base wage from $13.50 to $15 per hour
Western Alliance: Increase wages 7.5% for the lowest-paid 50% of employees
White Pine Winery: Planting more vines
Windsor Federal: $250 bonuses for employees except senior management
Yancey Bros.: $500 bonuses for all employees
Zions Bancorp: $1k bonuses for 80% of employees
Please take a minute and vote for Silk City:
http://ediblejersey.ediblecommunities.com/food-thought/vote-2018-local-heroes
I don’t think Trump can take credit for 2017 & 2018, but he certainly didn’t inherit a strong economy……. I think the fire was there, but his cronies and him certainly added a good deal of fuel……in the intermediate term, we will see where this goes……
Libturd says:
January 11, 2018 at 2:46 pm
D, The late 70’s were a horrible time for anything but roller skating. Trumpy inherited a pretty hot economy.
Up 0.58%, 6.07%, 7.28%, and 7.52% (h/t to BRT for ARLP) in a week. What a great day, including my TLT buy yesterday.
The Original NJ ExPat says:
January 3, 2018 at 10:58 am
I ended up buying EGN, WPX, DO and…ARLP later that same day, which has worked out great (so far). I searched to find if any company was working on crude oil or coal in a spray can but couldn’t find any.
The Original NJ ExPat says:
December 29, 2017 at 12:21 pm
MidCap Energy stocks are starting to look pretty good to me, including BRT’s ARLP.
Just voted.
#MeToo
I made up votes for the other categories.
Please take a minute and vote for Silk City:
http://ediblejersey.ediblecommunities.com/food-thought/vote-2018-local-heroes
Silk City!
Just make sure you sell some. Most companies have been sitting on top of huge amounts of cash. Heck, most companies have spent the last 5 years increasing earnings by buying back shares (and enriching large insider shareholders by doing so). You can believe what Fox News tells you, or you can believe what I tell you. Companies don’t know what to do with the extra money. Returning a pittance here and there (crumbs) to the workers is a nice gesture. I also don’t doubt that the tax reform will have a positive affect in the short term. But the unintended consequences won’t be felt for 6 months minimum. And the taxpayers in the blue states won’t feel the impact of not being able to itemize for another four months. You can’t keep borrowing from the federal debt to juice the shareholders. At some point you have to create real jobs. I stand by my predictions for the market collapse. We’re good for this year. Probably in trouble next year and screwed in 2020 for sure.
chifi – I’m not sure whether to agree or disagree. As someone who spends hours analyzing the markets daily, I can tell you what I noticed leading up to the election. Starting July 14th 2016 I noticed very strange behavior with the S&P 500. I write a nightly report to a limited audience and I called this the “July 14th shelf”, as I couldn’t believe how tight a range the S&P 500 traded in for such a long period of time. It was flat, flat, flat until September. Then we started having what I called “bungee jumps” off of the shelf. The S&P would dive off the shelf, then recover right back onto the shelf every couple weeks or so. Leading into the final days preceding the election it seemed like the bungee lost it’s elasticity and was just hanging there below the shelf.
We all know what’s happened since.
I don’t think Trump can take credit for 2017 & 2018, but he certainly didn’t inherit a strong economy……. I think the fire was there, but his cronies and him certainly added a good deal of fuel……in the intermediate term, we will see where this goes……
And the taxpayers in the blue states won’t feel the impact of not being able to itemize for another four months.
You mean 16 months, no?
I’d say the main argument for lower corp taxes boosting growth and employment are longer term have more to do with attracting more global fixed asset investment from global multinational, as well as on the margin, convincing some US based multinationals to add capacity in the US instead of elsewhere. A process like that takes at least 2 or 3 years, because it’s about the location of investment for future projects, which takes years to play out.
Lib – I agree with most of this, but I also believe nobody can know the unintended consequences. A global recession that excludes the US? (Repatriation suck overseas and suddenly competitive US companies?). Japan can no longer keep up with their buybacks to hold the yen down? My guess is that a lot of the outcome hinges around our dollar and the ability of US force of might to make sure that dollars continue to trade only for dollars. A stable dollar makes me think that foreign currencies continue to find their way into US Treasuries.
My own strategy is this: Keep on the lookout for inflation…and deflation. Either one will knock the US stock market off it’s high horse. OTOH, low and steady inflation can allow the market to keep melting up, up, up.
Just make sure you sell some. Most companies have been sitting on top of huge amounts of cash. Heck, most companies have spent the last 5 years increasing earnings by buying back shares (and enriching large insider shareholders by doing so). You can believe what Fox News tells you, or you can believe what I tell you. Companies don’t know what to do with the extra money. Returning a pittance here and there (crumbs) to the workers is a nice gesture. I also don’t doubt that the tax reform will have a positive affect in the short term. But the unintended consequences won’t be felt for 6 months minimum. And the taxpayers in the blue states won’t feel the impact of not being able to itemize for another four months. You can’t keep borrowing from the federal debt to juice the shareholders. At some point you have to create real jobs. I stand by my predictions for the market collapse. We’re good for this year. Probably in trouble next year and screwed in 2020 for sure.
oil continues to trade only for dollars, that is.
I kind of like Tom McClellan’s timing and insights, though I only keep them in the back of my mind, I don’t treat them as gospel. He’s approximately my age and an engineer like me, so we are sympatico. Tom thinks that we see a substantial correction from somewhere around March, continuing until August, and then the market resumes its climb. That would make for great political theater, you have to admit. The Dems would be going, “See! See!! SEE!!! Trump ruined the economy!! Just like we told you!!” And then the market starts climbing right through September, October, right into the mid-terms.
Consumer confidence is at a 17 year high! Just saying.
Grim as I understand it some of the provisions were effective November 2nd 2017. So there could be some impact come April tax time 2018.
“Starting July 14th 2016 I noticed very strange behavior with the S&P 500. I write a nightly report to a limited audience and I called this the “July 14th shelf”, as I couldn’t believe how tight a range the S&P 500 traded in for such a long period of time. It was flat, flat, flat until September. Then we started having what I called “bungee jumps” off of the shelf.”
TA would call this a classic flag pattern. This would be typically followed by either a large move up or down. I of course don’t believe that crap.
Consumer confidence is at a 17 year high! Just saying.
Watch out for those highs. They are usually a harbinger of bad times. Just saying. :P
Though, admittedly, the complete lack of movement on the VIX is interesting and goes against my theory.
So what happens IF the economy collapses now that the corporate tax rate is so low? U.S. debt explodes? How will that impact our treasuries?
I think this rally is getting way overdone. It’s not THAT different. This would have been attempted before if it was. Trump is not a mastermind.
Come on boys the game plan is for Trump to pick a new Fed chair and then financial-reform to gut Dodd-Frank. We can’t have our sausages without the sausage machines running.
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How about my Air Lease! Up 50% in the last 7 months alone.
I disagree. Not a flag, not a pennant (two different things). I trade bull flags off of 52 weeks highs all the time, and this wasn’t one.
TA would call this a classic flag pattern. This would be typically followed by either a large move up or down. I of course don’t believe that crap.
I don’t think it can be called a melt up…… yet. We need to see 4Q17 results and 2018 forecasts……if EPS is up (justification), then the move can persist with constant P/E….
Two Times Head and Three Secret Degrees I said…in a spray can says:
January 11, 2018 at 4:55 pm
OTOH, low and steady inflation can allow the market to keep melting up, up, up.
The VIX has been rendered useless as an indication….. use it for trading, but sh!tcan it otherwise…..
Libturd says:
January 11, 2018 at 5:17 pm
Though, admittedly, the complete lack of movement on the VIX is interesting and goes against my theory.
It doesn’t matter than this shite is crap…..there are literally lines and lines of computer code that exist to trade this dogmatic exercise in crowd behavior……as such….perception becomes reality…..
Libturd says:
January 11, 2018 at 5:13 pm
TA would call this a classic flag pattern. This would be typically followed by either a large move up or down. I of course don’t believe that crap.
BTW – the Trump “sh!tehole” comment is priceless…… what a douche…
Lib de James vu again!!
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I ended up buying EGN, WPX, DO and…ARLP later that same day, which has worked out great (so far). I searched to find if any company was working on crude oil or coal in a spray can but couldn’t find any.
I’m loving those dividends. I basically am invested in coal (ARLP), petroleum (XOM), tobacco companies (MO), and drug companies that make opiates. I’m planning to short Tesla some time this year. I’m I just running the anti-leftist portfolio?
eddie are you really that gullible?
Oh So much, where to start?
“The VIX has been rendered useless as an indication….. use it for trading, but sh!tcan it otherwise…..”
The best thing the VIX ever did, was give Clot a brown trouser event, every day for the three weeks he was caught in that ETF 3X Short.
De ja vu!
“I’ve been following judicial nominations since before you could code.”
OK, let me ask question, from your great depth of knwolege on nominees.
Does Matthew Petersen unseat Harriet Mires as the least qualified person for their nomination?
https://www.youtube.com/watch?v=c-zvNnFjk3Q
“Pee all over this one FlabMax:”
The “Dirty Digger’s ” NY rag, tries to discredit Fusion. OMG we got it all wrong!
But lets have fun with this one with a two part, based on this:
“Well, now that Michael Cohen, Trump’s personal attorney, is filing a pair of lawsuits — one in federal court against Fusion GPS and the other in New York against BuzzFeed — the truth may take on some renewed importance.”
First, I’ll give Nom the floor here. Whats the merit on a scale of 1-10? Would you take it to trial?
Second at what point do these go away. I say they never get to trial and I think I’ll set an alert in PACER to track
“Fabmax got served by Nom”
Oh Bless, I think its time for your cocoa and bedtime!
“I’ve been saying for a while that there will be indictments. How far reaching they go is an open question but you are seeing more and more desperation the left as the risk of their party being dismantled grows.”
I’ll give you the benefit of the doubt here in that you didn’t realise how dumb this statement is. I had Jack Reacher on last night in the background and it has this great quote.
“There are three things cops never do. They don’t vote Democrat, they don’t drive Cadillacs, and they never use personal vehicles.”
Think about that quote and see if you can join the dots.
Where exactly is the Left in this FBI investigation?
C’mon liberal puzzies, spin this one.
Trick beat me to the punch on this one, but let me elaborate, there are some interesting points here.
https://www.usnews.com/news/business/articles/2018-01-11/walmart-raises-starting-wages-handing-out-1k-bonuses
“This is nothing but another public relations stunt from Walmart to distract from the reality that they are laying off thousands of workers,” said Randy Parraz, a director of Making Change at Walmart. Rising wages reflect a generally tight labor market. The conversion of stores to e-commerce sites also illustrates how companies are trying to leverage their store locations to better compete against Amazon as shopping moves online.”
“They raised the minimum wage because they have to,” Mark Zandi, chief economist at Moody’s Analytics, said about Walmart. “The labor market is tight and getting tighter.”
While many department store chains such as Macy’s and Sears are struggling, retailers as a whole are still trying to hire. The retail industry is seeking to fill 711,000 open jobs, the highest on records dating back to 2001, according to government data. The longer those jobs go unfilled, the greater pressure on employers to offer higher wages.”
“reminded me of what happens when you try to time the stock market.”
I went conservative in 2007 and dropped out of the market in bonds and Money Market. Best move I ever made. Sometimes you need a breather from riding the bull.
I, as you say, sh!tcanned the VIX a long time ago. What I do use, though, is the VIX/VXV ratio, which I find enormously useful. I interpret it this way:
below 0.80 – bearish (super low volatility begets high volatility…eventually)
0.80-0.90 – bullish
above 0.90 – bearish
above 1.0 – crash-ish
The VIX has been rendered useless as an indication….. use it for trading, but sh!tcan it otherwise…..
“Returning a pittance here and there (crumbs) to the workers is a nice gesture.”
Lib, agree with most of this post and its one of the best posts you have written, except, It’s not a gesture and its not due to the Tax bill. The company is not allowed to.
When I came to this country and started reading into the laws there where a a few that confused me.
Santa Clara County v. Southern Pacific Railroad Co. What a FcuK UP!
The other was around Fiduciary Responsibility. I can’t find the article, but it went something like this. “A company cannot ‘Do the right thing’, unless the action is required for ‘Regulatory Purposes’, ‘Returns Shareholder Value’ or is in ‘Support of the Brand’.”
An example of this I always used in here was the Deep Water Horizon. Should Oil companies drill in the Gulf?
From the companies POV the calculation they have to make is an Actuarial one. If the cost of a spill cleanup (and brand damage) outweigh the potential profits, only them should they pass up on drilling. Otherwise their main focus should be drilling as that will return Shareholder Value.
This “Raises because of Tax Cuts” is BS. I want someone on the next investor call to ask, “Did you raise bonuses because of the Tax Bill?” The answer will be an unequivocal No.
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Hi Chi,
Any Outrage?
http://www.ibtimes.com/political-capital/trump-administration-waives-punishment-convicted-banks-including-deutsche-which
I think “Executive Time” sums up Donnie. Stroll into work at 11AM and in Bed with a Cheesburger by 6:30PM. What a life. But this is disturbing. At some point the your going to have to give up on him!
https://twitter.com/MattGertz/status/951427156881608704
“Trumpy inherited a pretty hot economy.
Really?”
Gary, here is the picture of True Greatness.
https://slate.com/business/2018/01/donald-trump-takes-credit-for-eight-years-of-declining-black-unemployment.html
I’m predicting a boomerang. We can’t say that a thriving economy is because of Obama, because reversing his policies are what invigorated. The Left also can’t give Trump an iota of credit for anything, because they’re all so close to suicide as it is. There’s only one explanation for our great economy:
It’s all Bush’s fault!
HAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHA!!!!!!
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What an absolutely glorious time, progressives are losing their minds today.
It’s all about the hottest stock market in history. But let’s all calm down an be realistic here. Every single time this has happened before. It’s ended horribly. This time will be no different. I’m dying to hear when everyone is selling?
I’m about 85% growth stocks, mostly large cap. My 401K is about to be eclipsed by Gator’s 401K rolled over into IRAs and which I put a nice chunk into Air Lease and the rest into VUG. My 401K has returned a whopping 29% over the last 12 months. Gator’s IRA has done 49% over the same time period and I only put her into AL a little over 6 months ago.
I managed to successfully time the tech bubble and the housing bubble. I’ll probably beat the Trump bubble too. Will be watching growth rates like a hawk over the next couple of years. Right now, we are experiencing the euphoria of an uphill track greased by a small loan from our federal debt. If you recall, before this reform was even on the table, most felt the market was overvalued. Estimates are between 1 and 2 trillion for the cost of this reform over a decade. So where are the cuts going to come from? Do you all really believe that this is going to grow the economy enough to pay for it?
Trump’s always been all about window dressing on fly infested pieces of sh1t. He’s like the king pin to the nouveau riche, which is odd as he was born into money. I hope I’m wrong about all this for the sake of my personal wealth and for the well being of the country. But I’ve always been right before, and have the BANK to prove it. Hopefully, the third time’s not the charm.
AA reports on the 17th. Let the games begin.
I love Eddy Elfenbein’s measured take on this market. I also love how he is compensated for managing his ETF.
http://www.crossingwallstreet.com/archives/2018/01/cws-market-review-january-12-2018.html
Ten year yield over 2.7% or under 2%
I’m dying to hear when everyone is selling?
“Trump Bubble”? I thought you said he inherited it. Now he’s responsible for it?
Come on D. Now you are being silly. I said the economy recovered under Obama and the market was pretty hot. It’s smoking under Trump due to the tax reform. But it will be a short-lived gain as he simply juiced the paychecks of the rich. Read Eddy’s blog piece I just posted. Anyone can give a 20% boost to shareholders. It’s paying for it that is the problem. Ignore my advice at your own risk. I honestly could care less who is responsible for what. I don’t cheer for either team as they are both in it for themselves and not for what is best for the country. Enjoy your Trump bubble. It will pop. The only question is when.
And remember, the problem with giving rich people more money is that they don’t spend it. Except if the two parties keep this up, the biggest sector will become security and barbed wire.
I also like using a ratio of 50 week highs to 1 month lows across the S&P 500 and MidCap 400 across the last 5 trading session; i.e. a high or a low over the last 5 trading sessions still counts. Anything over 1.0 is generally good. Currently, the S&P 500 is at 2.39 (208 highs vs. 87 lows) and the MidCap 400 is at 1.41 (114 highs vs. 81 lows).
Typically the S&P 500 pulls back when the new highs get close to 50% (220-250) over the last 5 sessions (so about now).
Guy is the man!! He states that your kids will be better off than you and I’m pretty sure he is dead on. I read the actual essay, and he says the biggest factor that could bring harm is if we don’t fix the growing division between rich and poor.
“But Buffett touches on perhaps the biggest running angst for Americans – the idea that “our economic machine is sputtering,” exemplified by growth in gross domestic product that has been mired at about 2% a year since the Great Recession ended in 2009.
Buffett writes that with U.S. population growth slowing, smaller economic gains are needed. The population, he says, is expected to increase about 0.8% a year after factoring in births, deaths and immigration. Under that scenario, 2% annual increases in inflation-adjusted GDP would deliver 1.2% growth in per capita (or per person) GDP. In 25 years, that growth level would lift current GDP of $59,000 per capita to $79,000.
“This $20,000 increase guarantees a far better life for our children,” Buffett writes.
Buffett also tries to allay fears that innovation and productivity will mean lost jobs, a seeming nod to advances such as robots and artificial intelligence. In 1776, when the nation was founded, 80% of workers had jobs on farms, he says, but that figure has dwindled to just 2% today because of tractors, cotton gins and other inventions. If that kind of upheaval were foreseen, Americans would have wondered how all the unemployed farmers could find work, Buffett writes.
But he says farming’s productivity gains “freed nearly 80% of the nation’s workforce to redeploy their efforts into new industries that have changed our way of life.”
Increases in productivity, or worker output, have vastly raised living standards, Buffett adds, noting that upper-middle-class Americans today enjoy travel, entertainment, medicine and education options unavailable to John D. Rockefeller, the wealthiest American when Buffett was born in 1930.”
https://amp.usatoday.com/amp/1001218001
Basically, if you are young and dollar cost averaging, who cares what the current market price is. If it drops you buy cheap shares. The thing about timing the market, the biggest gains usually happen in a day or two, and if you miss that run, you just shot yourself in the foot.
I’m with buffet, the stock market will be significantly more valuable in the future as the economy grows. Dow 100k will one day come. So invest with that in mind.
Still with the USA Today. I suppose it’s a step up from Highlights.
Hands down, the best way to get growth out of a capitalist economy in the far advanced stages of growth is to let money trickle up. Meaning, dump that money into the hands of the bottom consumer, and watch them spend. The velocity effect will be ferocious and the rich will get back every penny they invested in the consumer at the bottom with huge returns from the economic growth.
Libturd says:
January 12, 2018 at 9:36 am
And remember, the problem with giving rich people more money is that they don’t spend it. Except if the two parties keep this up, the biggest sector will become security and barbed wire.
And you don’t have to go to the dentist to read it;-)
Still with the USA Today. I suppose it’s a step up from Highlights.
Obviously, this strategy can only be implemented when there is enormous income inequality. Meaning, only when there is too much money concentrated at the top unable to find investments can this work.
How many years ago did they start putting USA Today outside the door in the morning at nicer hotels? About a zillion years ago, right? It still tickled me the first time, and feels pretty good even now.
A-hole,
It’s from an essay from Time. Obviously, can’t share that article because it’s a paid subscription. So I searched for alternative sources for the essay.
Two Times Head and Three Secret Degrees I said…in a spray can says:
January 12, 2018 at 9:50 am
And you don’t have to go to the dentist to read it;-)
Still with the USA Today. I suppose it’s a step up from Highlights.
Hands down, the best way to get growth is to have your wife fluff it up.
Some times I even use my wife.
:P
If that Buffett guy is so smart, why does he live in Omaha and not on a highway in New Jersey ? He must be one of those losers who couldn’t make it in nyc area.
Pretty insane
“It would take Lionel Messi – whose current salary of £82 million a year could make him a billionaire in just 12 years – just two hours and 56 minutes to earn what the average Brit took home in 2017 (£27,600).”
http://www.businessinsider.com/calculator-shows-how-long-it-would-take-athletes-to-earn-your-salary-2018-1
🤑🤑🤑
Nothing like reading a library book and finding dried boogers in the middle of it.
Buffet is not the norm, he is an anomaly. Most people in his position would have left Omaha a long time ago.
Don’t take my statements to the extreme. Obviously, there are smart and successful people anywhere. My statement refers to avgs. Avg person moving from jersey to a low cost state in their prime earning years are probably carrying major baggage and have no skills.
Hold my beer says:
January 12, 2018 at 10:04 am
If that Buffett guy is so smart, why does he live in Omaha and not on a highway in New Jersey ? He must be one of those losers who couldn’t make it in nyc area.
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[Verse 1]
My daddy left home when I was three
And he didn’t leave much to ma and me
Just this old guitar and an empty bottle of booze
Now, I don’t blame him cause he run and hid
But the meanest thing that he ever did
Was before he left, he went and named me “Pumps.”
[Verse 2]
Well, he must o’ thought that is quite a joke
And it got a lot of laughs from a’ lots of folk
It seems I had to fight my whole life through.
Some gal would giggle and I’d get red
And some guy’d laugh and I’d give him head
I tell ya, life ain’t easy for a boy named “Pumps.”
[Verse 3]
Well, I grew up quick and I grew up mean
My wrist got limp and my IQ got lean
I’d roam from street to street to hide my shame
But I made a vow to the moon and stars
That I’d search the ho houses and bars
And handy that man who gave me that awful name
[Verse 4]
Well, it was Wits End bar in mid-July
And I just hit Van Houten and my throat was dry
I thought I’d stop and have myself a dump
At that old saloon on a street of crud
There at a table, pulling his pud
Sat the dirty, mangy dog that named me “Pumps.”
[Verse 5]
Well, I knew that snake was my own sweet dad
From a worn-out picture that my mother’d had
And I knew that scar on his cheek and his evil eye
He was big and bent and gray and old
And I looked at him and my blood ran cold
And I said: “My name is ‘Pumps!’ I have to dump!
Now you’re going to watch!!”
[Verse 6]
Well, I hit him hard right between the eyes
And he didn’t blink, to my surprise
He come up with a knife and cut off a piece of my ear
Well I busted my sphincter right down my slacks
And liquid poop started soaked in the floor cracks
Kicking and a’ gouging in the poop and the blood and the beer
[Verse 7]
I tell you, I’ve been really scared
My Nana was the only one who really cared
He kicked like a mule and he bit like a crocodile
I heard him laugh and then I heard him cuss
He went for his pud and I pulled mine first
He stood there lookin’ at me and I saw him smile
[Verse 8]
And he said: “Son, this world is rough
And if a man’s gonna make it, he’s gotta be tough
And I knew I wouldn’t be there to help ya along
So I give ya that name and I said goodbye
I knew you’d have to tighten your sphincter or die
And it’s the name that made you smoke a bong
[Verse 9]
He said: “Now you just pooped one hell of a load
And I know you hate me, but I have to hit the road
So why don’t you do the right thing and pick up my tab?
But ya ought to thank me, before I book
For getting deported because I was a crook
Because I’m the son-of-a-bitch that named you Pumps
[Verse 10]
I got all choked up and I let go my pud
And I called him my pa, and he called me a dud
And I came away with a different point of view
And I think about him, now and then
Every time I post, and lie, and pretend
And if I ever have a son, I think I’m gonna name him
Bill or George! Anything but Pumps! I still hate that name!
Buffet is also a great real estate investor.
He bought a beachfront vacation home in Laguna Beach, Calif., in 1971 for $150,000.
Now listed for $11 million. Does look like some work was done, but $11 Million dollars worth?
https://www.zillow.com/homes/for_sale/27-Emerald-Bay,-Laguna-Beach,-CA-92651_rb/?fromHomePage=true&shouldFireSellPageImplicitClaimGA=false&fromHomePageTab=buy
People that leave jersey in prime earning years for low cost locations were successful in jersey? If they were so competitive, why did they leave?
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https://www.youtube.com/watch?v=WOHPuY88Ry4
Pumpkin,
They left to make the same or more money in a lower cost of living state. Or to make more money in a similar cost of living area
Hmmm…. the inverse logic would be to ask why successful people don’t move to New Jersey, no?
“Well, I’m the wealthiest Formula 1 driver in Monaco. I wonder if I have what it takes to make it in New Jersey?”
“Sure, I have millions of dollars from the hedge fund I just sold, but I’m not sure if I could make it in Passaic County. I’m just going to stay here in Manhattan, I think.”
People that leave jersey in prime earning years for low cost locations were successful in jersey? If they were so competitive, why did they leave?
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As for the least liveable cities, Damascus ranked worst followed by Lagos, Tripoli, Dhaka, Port Moresby, Wayne, and Algiers.
http://www.independent.co.uk/travel/melbourne-worlds-best-city-live-in-7-years-running-australia-eiu-london-manchester-a7896291.html
How did Dhaka make the list?
I wonder how old Trump was when he sucked his first cock.
High taxes on mostly highway houses. Other than that, it’s fine.
How did Dhaka make the list?
If they would just lower the speed limit by 5mph…
Melania let Trump put his divk in her, think about that for a second. Eddie runs to the executive washroom to pull his pud….
#Sh1tholestate
Kind of like reading njrereport comments
“Nothing like reading a library book and finding dried boogers in the middle of it.”
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No one routinely takes it anally.
BJ Pumps reminds me of this kid who arrived on our dorm floor at Rutgers one year. His name was Mark and he was from Secaucus. I don’t know how it came out, but he was hugely self-conscious about his town. Like BJ Pumps, he was the easiest toy to wind up, all you had to do was say something about Secaucus. Like BJ Pumps he would just go on and on and on about how great Secaucus was. The more he talked, the worse Secaucus seemed, most of us had never been there. Number one, of course, was how close it was to New York City.
Back in the stone age, when I attended college, almost nobody had even a telephone in their room, but my roommate and I did. Most kids shared the single pay phone at the intersection of our L shaped hallway, probably 40 rooms on the floor. One day we used our phone to call the pay phone and ask for Mark. Common practice was that someone near would answer the phone and walk down to whatever room, knock on the door and tell them that they had a call. We pretended to be Mark’s mother (there was about four of us in our room at the time), so someone went down the hallway and knocked on Mark’s door and told him it was his Mother on the phone. Mark came down the hallway and answered the phone,
“Hi Mom”
(one of us): “Mark, this is your mother. I just wanted to call you and tell you that…”
(all of us): “Secaucus Sucks!”
Holy crap. There was no response, but we heard Mark’s thundering hooves run down the short end of the “L” hallway where our room was. Mark wasn’t a tall dude, but he was about 5′ 7″ of nothing but 190 pounds of muscle. The kind of guy who has muscular shoulders on top of his regular muscular shoulders. Luckily the door was locked, but we saw it buckle several times while Mark tried to bust it down while he screamed, “I don’t have to take that from my Mother! About my Mother! from my Mother!” He was fine after he cooled down, but we learned not to over-wind our toy. Believe it or not, it wasn’t even my idea, but I was a willing participant.
Then why would anyone ever move to New Jersey? That would be like moving to Florida and not doing drugs routinely.
No one routinely takes it anally.
Again, these aren’t highly skilled individuals. Highly skilled individuals leave low cost areas for coastal economic power hubs to make more money, not the same or less.
Hold my beer says:
January 12, 2018 at 10:29 am
Pumpkin,
They left to make the same or more money in a lower cost of living state. Or to make more money in a similar cost of living area
Why Trump won ^^^^
I went to Monroe to get new tires put on the car. I know they might not be most trust worthy but they install tires and balance for $50 while local shop wanted $120. Anyway, dude that worked on my car had to stop, answer phone 4 times, then had to stop to deal with walk up customer. After he finished, he had to come in and complete invoice and payment. I asked him where manager was and he said off site management meeting. He was not trained to handle computer system and could not print invoice. He was so frustrated and told me they pay him $12/hr to handle all these tasks. I felt real bad for guy. Works his rear off and gets nothing in the end. Maybe he made bad choices, maybe from bad background but complete reminder how many hard working people get f-ed on a daily basis.
Anybody buying AFL today? It doesn’t seem like much of a story.
Campaign slogan for this fall, “Do you really want to elect another sh1thole Democrat?”
The press is derailed – They are yelling out “sh1thole” questions, using the word, at an MLK ceremony.
With the way the market is responding, I hope Sarah Huckabee Sanders starts telling Jim Acosta to f.uck off during WH press briefings.
Bought HES about 20 minutes ago.
Two times, you need to get a life, please!! U obviously have nothing to do all day.
Last night, as a treat for his straight A’s and because we haven’t eaten out in about two weeks, we decided to let Ryan use his B-Dubs gift cards. We decided to go to the one in Parispanny to avoid the ghetto crowd at “Secaucus.” We arrive at 7pm and you can’t even get in the parking lot. I ran in and they said it would be an hour wait. For friggin chicken wings? I’ve never been to a Buffalo Wild Wings before so I can’t vouch for their quality, but they must be doing something right.
“Why Trump won ^^^^”
We ended up going to Shan Shan, a really authentic hand pulled noodle shop. Very mom and pop and located adjacent to an Asian supermarket. We were so glad we did. What a find! I haven’t had house noodles like this since I was a kid and my parents used to take me to a whole in the wall in Chinatown in Manhattan. Gator had a vege lo mein type dish, I had tripe lo mein and Jr. had spiced pork noodle soup. We also shared amazing pork dumplings and steamed vege dumplings. The D had white rice and some of our dumplings and soup. $42. As authentic as it can be. The menu had lots of exotic stuff like marinated eggs and pigs ears.
Santelli, eddie, and anyone tipping their fedoras to Trump is why he won.
Stay out of it Randy.
S&P 500 – Best start to the year since 2003
Jerry Brown thinks “recession” – Oy.
Why not?
What’s interesting is that this January is exactly opposite to 2015. All the places you needed to be then (REITs, Consumer Staples, Utilities) is exactly where you don’t want to be today.
Re Trump who besides some bookworm would know this: https://mobile.twitter.com/KatzOnEarth/status/951656979658870785
J/k Trump is a huuuuuuge putz
Eddie runs to the executive washroom to pull his pud….
While you finger yourself.
I stayed home and had a cheeseburger. Very authentic.
Hillary won the popular vote by 6 million votes in just NY and CA combined. She lost the popular vote by 3 million votes in the other 48 states. It’s the math that Democrats just can’t comprehend.
The knuckleheads on the East and West coasts think just because they can stand on top of their Priuses and not see anyone who thinks differently than them that they are winning.
Santelli, eddie, and anyone tipping their fedoras to Trump is why he won.
I’ve been deciding on lunch. Now I’m leaning toward Five Guys.
I stayed home and had a cheeseburger. Very authentic.
Dick Durban on TV now saying the term “chain migration” is a racist term that insults African Americans.
Oh boy.
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Dick Durbin is saying that sh1thole = hate-filled, vile, and racist.
BJ Pumps owns a sh1thole piece of property. I’m only trying to say that he’s stupid, does anybody else read those other things into it?
Last night, as a treat for his straight A’s and because we haven’t eaten out in about two weeks, we decided to let Ryan use his B-Dubs gift cards. We decided to go to the one in Parispanny to avoid the ghetto crowd at “Secaucus.” We arrive at 7pm and you can’t even get in the parking lot. I ran in and they said it would be an hour wait. For friggin chicken wings? I’ve never been to a Buffalo Wild Wings before so I can’t vouch for their quality, but they must be doing something right.
Honestly, IMO, prepare to be dissapointed. When BWW came out in the early 2000s, I was stoked. With a name like that, it’s gotta be good. The wings were very mediocre and tiny. They are about half the size of the wings you would normally get from a store.
Most of the other stuff was disappointing as well. Only two good things on the menu were potato wedges and pulled pork nachos.
I usually go for the nachos. The only time I usually eat in those big chains is when I’m traveling for work.
“I stayed home and had a cheeseburger. Very authentic.”
Did you cut the cheeseburger?
Why does this read as a jj post?
Libturd says:
January 12, 2018 at 11:55 am
We ended up going to Shan Shan, a really authentic hand pulled noodle shop.
My son got hooked on BW3 (yes it was BW3 in Chicago in 1996), but his switched over to this local place……nothing earth shattering, it is just that they use fresh and high quality ingredients…….just delicious food for what you are targeting….nothing more…
http://www.burgerbrosnj.com/
“The knuckleheads on the East and West coasts think just because they can stand on top of their Priuses and not see anyone who thinks differently than them that they are winning.”
The classic New Yorker cover. The longer they think this way, the more points the other side runs up.
https://condenaststore.com/featured/view-from-9th-avenue-saul-steinberg.html
Does anyone actually use facebook as their primary news feed?
There was no happy ending at Shan Shan.
A space can make a hell of a difference.
I just told Siri that I need a translator.
What Siri thought I said is that I need a trans later.
That’s so, not hot.
Shan Shan noodles is legit
Libturd sporting Tiger Wood says:
January 12, 2018 at 1:29 pm
A space can make a hell of a difference.
I just told Siri that I need a translator.
What Siri thought I said is that I need a trans later.
That’s so, not hot.
https://www.youtube.com/watch?v=JepKVUym9Fg
There’s a BWW just a few minutes from my office, so I’ve had lunch there many times. The traditional wings are decent. Lots of choices for sauces. I know some people who love the thai curry sauce wings. I usually get just wings (1/2 mild buffalo, 1/2 lemon pepper or salt&vinegar dry seasoning) and a side of slaw. Libturd should keep in mind that Tuesdays they have 1/2 price traditional wings (at least at my place), so that’s the day to go to maximize value. Their entrees that require some actual cooking skills and freshness are lacking and typically loaded with cheap starch, so I generally avoid. People I go with often get fried pickles, good when fried right, terrible if soggy. Nachos are ok if you tell them to load more slimy stuff on top (chili & cheese), but super unhealthy, like most of their appetizers.
“Most of the other stuff was disappointing as well. Only two good things on the menu were potato wedges and pulled pork nachos.”
And beer. Beer never disappoints!
I ran our Superbowl party with BWW last year, not bad wings but their bulk pricing leaves room for competition, just not enough wings for the money.
Eddie/Gary how much can the ol’ girl take…..?
Shabbat Shalom everyone. I gotta admit sitting here on my deck a little sunshine on the ol’ forearm, skies of sweet blue overhead, gentle trickle of the pool’s waterfall. 75 and sunny does not suck.
I am home having a frosty cold Moosehead right now.
Fifteen years ago, just before we bought our place in Boston, my wife and I rented this beautiful 1200 sq f , 2 bed, 2 bath. It was on the 9th floor(of 10) overlooking a Marina with Boston skyline views. We rented it furnished from some old snowbirds who Wintered in FL. The first thing my wife had to do was take pictures of everything, because there was so much chotchki (sp?) and family pictures everywhere. She took the pictures and then packed all of their stuff away. Claire Carol, the wife, was obviously a big fan of Christmas Tree Shops, even her scented garbage bags were from there (new parent tip – not too bad for the changing table). Another thing that probably came from there interested me. Her husband had these cheesy plastic mugs with some kind of coolant inside, stored upside down in the freezer. I have had my own ever since. I don’t use them all the time, but when the temps are up outside and you just want an icy, icy beer, they are great. The probably lower the temps of my 37 degree fridge beers down several degrees.
As it is 60 degrees in Boston today, I’m using one for the first time in a long time. Ahhhh!
And beer. Beer never disappoints!
Until last January out two teenage daughters were jealous and bewildered by stories of all the big places with multiple bathrooms we used to rent, they having only known life in 900 square feet with the very smallest of bathrooms (but the ceiling was high!;-). Our youngest lived in that marina place overlooking the pool and the boats for only a couple months. We used to tease her with pictures of her bathing in one of the deep sinks of the 2nd full bathroom. My FIL used to keep that picture on his desk.
Bought today: FTI, HES, VMC, WEN. We talked about VMC a couple years ago.
on dressing up property taxes as “charitable contributions”
Mayor Bruce Packer (D-Glen Rock) posted via Facebook on Thursday:
–
At yesterday’s council meeting, I spoke at some length about the latest information that I have received relating to the suggestion from Congressman Gottheimer and others that there may be a way to avoid some of the implications of the recently passed tax hike bill.
In short, in the opinion of various professionals and legislators that I have spoken to, there is no legal way for a NJ municipality to do what is being suggested.
There is no existing mechanism that enables us to collect anything less than 100% of the property taxes owed by all of our residents. In order to do what is being suggested, we will likely need to see the passage of an amendment to our current tax code at the state level, and possibly changes to the Federal code to assure that what is being suggested does not violate IRS rules.
I will continue to stand behind my previous statements that if other municipalities find a way to help their residents avoid the hit of the new tax hike, I will do everything within my power to assure that Glen Rock does the same. Current municipal tax laws do not allow for creativity or loopholes that can potentially benefit our residents. The way we collect taxes, report them, and distribute them is very specific and must be followed to avoid fines or other headaches.
If you want to know what you can do, feel free to write to your county, state, and Federal legislators and encourage them to first create the path that would allow us to do what is being suggested and second, provide the proper guidance to all municipalities to avoid any unnecessary expenses stemming from otherwise necessary reviews and input from our attorneys, auditors, and other professionals.
Pay up liberals and stop your whining. Time to settle the tab for all of the third worlders that you brought in.
My in-laws taxes in Glen Rock were something like $13K when they sold their place 25 years ago. Same people they sold to, now retired, still live there. Taxes are now around $34K.
3:05 i think we’ve reached peak SQ footage here. Just us ‘3’ at 2600 sq ft here in soCal. That’s up from 1600 in N Jersey.
The writer-director has reportedly signed on Leonardo DiCaprio to star in his next movie, according to Deadline. The movie will be set in 1969 Los Angeles, during the summer of the Charles Manson murders.
Tarantino and DiCaprio last teamed on the 2012 movie “Django Unchained.”
According to Deadline, DiCaprio will play an aging actor in the movie. Specifics on the movie are still under wraps, however, the site is reporting that it will not be fully focused on the Manson murders, in which a group of Charles Manson followers entered the home of actress Sharon Tate and murdered her and four other people. Deadline also reported that the story will have a “Pulp Fiction” feel. (Tarantino’s 1994 classic told a collection of interconnected stories.)
The movie will be released by Sony, which nabbed the project following a bidding war in the wake of Harvey Weinstein’s firing from The Weinstein Company. Up until then, Tarantino had only made movies at Weinstein-backed companies TWC and Miramax.
I’d like to make my landscaper a charity, as well as my favorite restaurant!
If you want half your muncipal employees to make at least 100k a year, even if their highest skill is vacuuming leaves and filling in pot holes enjoy your 12k a year in taxes for a pos cape
In N.J. does any part of the collected sales tax stay at the local level? In Texas the sales tax is 8.25%. 6.25 goes to the state and the remaining 2% gets divided up at the town and county it is collected in.
https://www.curbed.com/2018/1/11/16879676/2018-real-estate-megaprojects-developments-hudson-yards#112871715401939-fp%231515760808676
https://www.realcommercial.com.au/news/bizarre-ny-building-set-to-be-longest-in-world?rsf=ps%3afacebookrca1364%3aint