From WHYY:
New Jersey unprepared for next economic downturn, say ratings agencies
Ten years after the Great Recession, more and more states are bulking up their financial reserves to prepare for another economic downturn.
But not the Garden State.
According to two new reports from Moody’s Analytics and S&P Global Ratings, New Jersey is one of several states with minimal budget surpluses and empty rainy day funds, vulnerable to the next major economic decline.
“If it’s into the 10th year, and they still haven’t replaced their reserves, how much time do they have left to do that?” said Gabriel Petek, a credit rating analyst at S&P Global Ratings. “We don’t know for sure.”
Economists say it is important for states to have substantial reserves so they can continue to fund the government in times of financial crisis — as well as absorb the added costs of an economic downturn, such as increased Medicaid enrollment.
That could be difficult for New Jersey. The state has only about a 2 percent budget surplus — the amount of taxes raised minus expenditures — which is slightly less than what experts recommend. Its rainy day fund is empty.
New Jersey has a progressive income tax structure, which means wealthy New Jerseyans pay a higher tax rate than poorer residents. When the economy slides, the richest taxpayers do not contribute as much money to state coffers.
The state also has one of the most underfunded public pension systems in the country.
“Those states that have the big pension shortfalls, who have the big structural issues where people have been just kicking the can down the road for years — they’re not in any position where they can start building up those rainy day reserve funds,” said Dan White, director of fiscal policy research at Moody’s Analytics.
According to Moody’s, New Jersey ranks 47th in states most capable of handling an economic downturn without raising taxes or cutting spending.
fristy baby!
Everybody happy with their investments in NGLOY, especially with the 4.6% gain yesterday on top of the previous two day gain? It’ll open up 0.75-1.00% more today.
The Pope and Bono met…and neither of them burst into flames.
https://apnews.com/7c142e0af6ad49c8ad25485dcffd781d
Knowing Alibaba pretty well, I’m fairly sure we don’t want Jack Ma’s 1mm jobs…
https://www.cnbc.com/2018/09/19/jack-ma-alibaba-is-no-longer-planning-to-create-1-million-us-jobs.html
Did you say Alibaba?
https://youtu.be/U7M7d8u40I4
Did Jack Ma name it Ali Baba because the intent was to build a platform to enable the theft of global IP and profit from it? Rhymin and Stealin..
I agree. So transparent….. does no one have the ball$ to just say it?
I am not outraged…..makes perfect sense, and this stategy appears to be effective.
The clear issue is that everyone is a slimy pig. The most amusin things is that out of everyone involved in Congress, specifically on the committee, and possibly even the accuser, Kavanaugh is probably the most moral and deserving of our respect. Disgusting the whole thing, and I personally don’t care if Kavanaugh gets to the bench or not. It is win-win for the democratics…….
I just hate seeing people in this country pitted against each other…… it just strengthens our enemies.
The Original NJ ExPat says:
September 19, 2018 at 7:03 pm
Here’s the Democrat long con (btw, I’m surprised nobody’s called Kavanaugh a ped0phile yet). Prepare yourself for “Dr. Ford” to be hospitalized over the next couple days due to the traumatic stress of the death threats, etc.
1. This whole new circus is a Hail Mary to upend the nomination. If the Dems get the R’s to bend and delay, they’ll easily get to the mid-terms with no vote. Some more sensational and unsubstantiated stories will drop during the “investigation”, that gets them to the mid-terms with no red state Democrats having to cast a no vote prior to the polls opening.
1a. Budget votes are held up, government shut down, blah, blah, blah.
2. If the Hail Mary works, the Hail Mary of all Hail Marys comes into play, the Dems will then want to delay the vote until the new congress is seated, so “The American people can have the Senators they voted for to have their proper say on the matter…”
That’s why the vote will not be delayed, or not delayed by much. Justice Kavanaugh will be seated…and stained.
Here’s what happens next:
Dems run on the outrage and drive their voters to the polls with ads urging real Americans to stand up and do their patriotic duty…Vote Democrat before Trump stacks the entire SCOTUS with ped0philes. Worse yet, N@zi ped0philes.
Same reason why he uses the name Jack, he started out as an Engrish teacher.
High-tech lynching, history rhymes…
Republicans should have nominated a more extreme choice to get shot down as collateral damage before nominating Kav.
Loser thinking. Since the Dems control the media, you don’t ever want to be on the retreat…because then you’ve chosen your direction…and your cowardice.
Republicans should have nominated a more extreme choice to get shot down as collateral damage before nominating Kav.
Here’s how Puzzy politics would work:
OK, let’s have a couple weeks for an investigation
4 weeks pass
Ok, let’s wait until after the election
8 weeks pass
Ok, let’s wait until the new Congress is seated
8 weeks pass
Ok, let’s wait until after the ______(fill in the blank, IG, Mueller, Huber) Report
Once you take up the position and posture of b1tch… you stay a b1tch.
Haters were out in force yesterday bashing my positive comments on Hudson County real estate. Here is one example: “your incessant need to pound the table is going to make you look like an idiot in about 2-3 years.”
Let’s face it, the true idiots never bought Hudson County or bought it then sold too early.
Hudson County is in the early innings of a multi decade run. The comment on people of Asian backgrounds moving in, like somehow this doesn’t count, is absurd. Take a look at Vancouver – 30-year nonstop real estate boom driven in part by Asian $$$$. That is where Hudson County is headed. Even Harrison is booming. Today it is the fastest growing municipality in the state. Ten years ago, that was unthinkable, today it is reality. And this trend isn’t changing anytime soon.
This is Trump vs. everyone. Why the hell do you think So many Republicans are getting out of Dodge? They’re leaving now so they can (hopefully) re-enter later as an adversary. If not they’ll just take $800K per year to be lobbyists.
And the good thing about having lots of Asians in Hudson County is if it doesn’t work out they tend to like to jump off cliffs when all is lost. Then the blacks can move in.
It now looks like NGLOY is going to open close to 2% up.
That’s nice.
What makes you think Republicans don’t want to lose the house and senate so they can run against the “obstructionist”dems (and maybe Trump) in 2020 and reclaim the right to redraw legislative districts for another 10 years?
Grim says:
September 20, 2018 at 8:44 am
Republicans should have nominated a more extreme choice to get shot down as collateral damage before nominating Kav.
The only thing I’m worrying about now in the current US stock market is volatility going too low. We are close to VIX/VXV dropping below 80, which is not cool.
Extremely low volatility usually begets very high volatility in short order.
Multinational corporations with allegiance only to power and profit control the media. Hence the $5 billion of free publicity Trump got during the election.
The Original NJ ExPat says:
September 20, 2018 at 8:50 am
Loser thinking. Since the Dems control the media,
Ottoman – As hare-brained as you are, that is actually plausible. They only have to figure out how to crash the economy and undo the trade deals that Trump will secure. They also have to trick Trump into starting some wars. Peace and a booming economy are not usually good hallmarks for undoing an incumbent. God forbid that women and minorities continue to advance their station!
What makes you think Republicans don’t want to lose the house and senate so they can run against the “obstructionist”dems (and maybe Trump) in 2020 and reclaim the right to redraw legislative districts for another 10 years?
Show us on the doll where he called for Trump supporters to stop sending his accuser death threats. Seems weird that his best friend refuses to stick up for him at the hearing. Then again, this is the guy who wrote “certain women should be struck regularly, like a gong.”
Now that’s a class act.
“Kavanaugh is probably the most moral and deserving of our respect.”
“They only have to figure out how to crash the economy“
See also Gramm-Leach-Bliley.
Trump has automatic free publicity. It’s called Trump Derangement Syndrome. MSNBC and CNN can’t stop themselves.
Multinational corporations with allegiance only to power and profit control the media. Hence the $5 billion of free publicity Trump got during the election.
I hate when I’m inaccurate in my predictions. NGLOY up over 3%.
Trump got the free publicity because he is a constant verbal train wreck. It’s like watching an auto race or a radio. By far, he’s the most entertaining POTUS ever! Watching Cankles tell everyone what they wanted to hear (the most litmus testing I have ever witnessed by a huge margin) is much like watching paint dry. She was like everyones’ grandma. Do you like listening to your grandma?
Ottoman – I picture you frothing at the mouth profusely while you thumb type. Any spittle on your Android?
I think Otto is using a Leap Pad.
I think it was barely minutes after Trump was inaugurated that Don Lemon proposed that the media should not report on Trump’s tweets. He was probably on to something. I never read Trump’s tweets on twitter. OTOH, I can’t avoid them while I have cable TV.
Are Leap Pads what our kids had when they were less than 10 years old? I honestly forget.
Lib – when are taking your next recon in Costa Rica? I’m seriously interested in tagging along.
Expat – TDS is costing them too.
AdWeek reports, “CNN ranked No. 6 across basic cable in total prime time viewers, and No. 5 in total day this past week. Despite the top 10 finishes, the network was -36 percent in prime time viewers, and -41 percent in total day viewers vs. the same week last year.”
Otto – “Seems weird” – That would be the witness without question.
Sen. Grassley himself said it in the middle of a gaggle of reporters with multiple on cameras TODAY that they would even fly anywhere in the country not just her home. She could name the place of her choosing for the interview.
WASHINGTON, Sept 20 (Reuters) – The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting near a 49-year low in a sign the job market remains strong.
Initial claims for state unemployment benefits fell by 3,000 to a seasonally adjusted level of 201,000 for the week ended Sept. 15, the Labor Department said on Thursday. That is the lowest level since November 1969.
This is how I know I live in a nice Boston neighborhood:
1. My two closest across-the-street neighbors both have had political signs for Geoff Diehl for weeks now on their front lawns.
2. The signs have not been defaced or stolen.
Geoff Diehl is the Republican candidate running against Elizabeth Warren.
Joyce for you,
https://www.northjersey.com/story/news/investigations/watchdog/shield/2018/09/20/police-misconduct-nj-troubled-cops-hidden-misconduct/1339148002/
“Show us on the doll where he called for Trump supporters to stop sending his accuser death threats.”
Glad she’s getting leveled online. Absolute BS transparent move by Dems. Wanna fight cheap? Expect to get kicked in the nuts. And have everyone else stand on the sidelines.
Good to see the Repubs are finally willing to go to the Dems playbook. Offering her anywhere/anytime interview including flying to her is brilliant.
She’ll chicken out since the whole point of this exercise was delay, likely blaming the ‘threats’ to try to get some more Dem mileage out of it. His nomination will be out of committee and going to floor next week. As it should be.
And the Dems can notch another miserable defeat at the hands of this misanthrope they despise. Perpetual bottoms. What a sad sack bunch.
Expat, will let you know. Definitely some time between November and end of January. Be prepared. You good on a moped or motorcycle? Cause that’s how I plan to get around. Would really like to check out as many regions as possible (and RE) in a short period of time. Figure a bar crawl around the western half of the country (mainly focused on Pacific Coast). Would crash in $25 rental rooms (with AC of course). Besides airfare, figure it would be about $50 a day. When without the family, my Captain Cheapo impulses fly. Oh. No Homo. :P
Still trying to figure out whether it makes sense to build there or buy something used.
ExPat, Nice call NGLOY. Saw the VIX/VIX3M move. SPY put IV popped for ATM puts on Friday as well. Calls at 4, puts at 17.
Guys, looking for near term shorts again. Any recommendations? Let them fly.
leftwing,
I want her to show up. I want her questioned. I want to see her eviscerated.
201,000
Incredible
Don’t vote for anyone but Shiva
The Original NJ ExPat says:
September 20, 2018 at 10:11 am
This is how I know I live in a nice Boston neighborhood:
1. My two closest across-the-street neighbors both have had political signs for Geoff Diehl for weeks now on their front lawns.
2. The signs have not been defaced or stolen.
Geoff Diehl is the Republican candidate running against Elizabeth Warren.
“I want to see her eviscerated.”
Never happens if she shows. These types of accusations are the third rail now.
Senators will perform for the cameras and have a piously respectable tone. They’ll tell her they believe she suffered trauma and understand how difficult it is for her. They’ll tiptoe around a few factual questions to undercut her testimony (were you drinking that night). Overall, they’ll feel her pain, just like the cretin slick Willy did for the cameras as he lied through his teeth.
Then they’ll call it an indeterminable draw and move on.
Her basic problem is that there is nothing else to say that she hasn’t already said. There is no there there. Two teenagers, 35 years ago, at a HS houseparty, in a BR together. You could have the whole FBI investigate, nothing more is going to come out. It’s a four decade old he said-she said and she’ll look foolish on national tv sitting in front of a full Senate committee when it becomes obvious that’s all she has.
NYT headline day on Trump’s first day in office: “Unemployment Claims Rise”
NYT didn’t bother covering today’s unemployment claims news.
Where are all the workers coming from? According to LinkedIn, among the top 10 cities that metro New York has gained the most workers from, 4 are in India. Bay Area, LA, Seattle just have 1 Indian city in their top 10. Seems like finance industry needs Indian workers more than tech industry.
Lowest jobless claims since 1969!! Of course Obama will say it’s because of him!!
Again i’m Not rooting for the guy to fail, ok I am .. but the claims however lovely that may appear are the ssm flawed numbers that discount lot’s of people out of the workforce by giving up or whose benefits have expired. Job scene is crap. Keep crier my about it and you resemble the partisan hack you are…
It’s a four decade old he said-she said and she’ll look foolish on national tv sitting in front of a full Senate committee when it becomes obvious that’s all she has.
She brought it up. She’s the one crying foul. How can you claim to be traumatized and not remember much at all? That’s the whole point, to have her repeatedly say, “I can’t recall.” Ask her if she filed a police report. Ask her if she went to the hospital. No to both? If she’s not willing to show up anywhere she wants, then what’s the point? What are we even discussing? Hit and run? Why don’t we all just start making accusations? I don’t like a co-worker… think I’ll go to HR and make something up.
“What’s Wrong With the Housing Market?
New-home construction jumped in August, though underlying numbers suggest the housing market is stuck in the mud. Notably, the pipeline for new homes is moving in the wrong direction. Permits for multifamily homes are at the lowest level in years. Single-family homes aren’t much better—permits hit the lowest level in a year at an annual pace of 820,000. During the 1990s, single-family permits averaged more than 1 million a year.
Home Sweet Apartment
Rising mortgage rates, a tight labor market, high prices for materials and a limited supply of desirable lots all appear to be limiting construction of new single-family homes. Builders, meanwhile, have been more focused on apartments—the number of multifamily units under construction has plateaued around the highest level since the early 1970s. With the Federal Reserve set to lift rates again next week, it doesn’t look like any kind of turnaround is imminent.”—wsj
Good stuff!
The Original NJ ExPat says:
September 20, 2018 at 6:19 am
Everybody happy with their investments in NGLOY, especially with the 4.6% gain yesterday on top of the previous two day gain? It’ll open up 0.75-1.00% more today.
Now do you believe pumps that we are heading for the best economic run of our lifetime. Bring on the roaring 20’s 2.0. I called this all a long time ago.
3b says:
September 20, 2018 at 11:48 am
Lowest jobless claims since 1969!! Of course Obama will say it’s because of him!!
No I don’t. You only believe it will make your house worth more.
Dow 27K hat next week?
Expat. Fcuk the motorcycle idea. Too pricey due to accident rate. Airfare is $370 direct EWR to San Jose. Hotel nights are $25 to $35. Rental jeep is $55 for 7 days. I forgot how cheap things are down there. Was thinking like Tuesday to following Wednesday Last week in November to first week in December to avoid tourist season. Captain Cheapo knows, the cheapest time to travel is always those two weeks. Now to see if Gator is willing.
Fast not disagreeing with you on substance.
On the Senatorial strategy though you’re up by a goal, the win is in the bag. You just need to defend against a late onslaught.
You don’t do that with a hard offensive push in the final five minutes. Lean back, play a highly defensive game, and let the clock run out.
Too much offense and you run the risk of losing a Collins or Flake and causing a ‘tie’ on the Senate floor.
Go through the motions, look up at the buzzer, shrug, and confirm the guy.
Dems know there is no substance here. This whole ploy is nothing more than them leaving a noose out and waiting (hoping) Trump/Repubs wrap it around their neck with public comments/actions. Don’t.
Yo,
I posted a stat a few weeks back from Pew institute. I think it showed something like 275k H1Bs were approved in NYC metro area from 2010-2016. It is not even close, I think Boston had 39k approved. I am working now in a room with 16 Indians, out of 18 people total. People can post all they want about great job market but wages are being held down for anyone not in front office. It is a sham and a real problem. Sure, you can get a job but experienced folks have little shot and keeping current wages. There is a palpable line in sand at $150k. I have senior PM in my title, mentioned tyears experience..none of it matters. $115 -$125k was 90% of job discussions in NYC. A few went to $140k but that was rare. Contractor hourly rates, no benefits, were $85 hr. at absolute best. $70-80 was usual. Not good
One thing I know – about 4 of us in the room have headphones in. I doubt any of them are listening to anything as awesome as Ween’s Transdermal Celebration. It would probably confuse them.
By,
Have you seen Bollywood movies? They would get it. But only if Gene learned to sing in Bengali.
I currently have 4 remote, work from home contracts that I staff with H1Bs that pretend to be me. I delegate work accordingly. I have a pm, a dba, and two developers.
All my employers think they are getting a bargain by underpaying for me.
Yep and Dean’s solo was on a sitar. I honestly have never watched a true Bollywood movie. I have zero interest in dancing and musicals in general.
This was a great parody. You’ll appreciate this By.
https://www.youtube.com/watch?v=wJkw24zxizw
Classic, Lib. Particularly like the Apocalypse Now parody.
Grim,
Can I have my big $26 donation back? ;>)
This does not sound,she wants to testify next week
Christine Blasey Ford, the woman who has accused Supreme Court nominee Brett Kavanaugh of sexually assaulting her when they were in high school, “wishes to testify” before the Senate Judiciary Committee next week “provided that we can agree on terms that are fair and which ensure her safety,” her lawyer said Thursday.
In an email to the committee, Ford’s lawyer, Debra Katz said that she would like to set up a call later in the day Thursday in which they can “discuss the conditions under which Dr. Christine Blasey Ford would be prepared to testify next week.”
“A hearing on Monday is not possible and the Committee’s insistence that it occur then is arbitrary in any event. Dr. Ford has asked me to let you know that she appreciates the various options you have suggested. Her strong preference continues to be for the Senate Judiciary Committee to allow for a full investigation prior to her testimony.”
Full Investigation prior to testimony.
Headline says “Kavanaugh accuser willing to testify next week under certain conditions “
Ensure her safety? Wtf is this? The Bourne Identity?
Totally bogus and transparent i
Kind of wondering about how my boys will find my music when they get older? As a kid, my dad had vinyls which I explored often and they became quite formative. Alot of Irish music, some Dylan, 60s folk etc. I am all over the place musically, easily 500 CDs sitting in attic but no CD player. Kind of feel a right of passage will be missed. I don’t want to force my music on them but it would be interesting to see what they pull out. There is so much music that had significant impact on me (Hendrix, Zappa, Talking Heads, Ween, Lee Morgan, Jimmy Smith) Too expensive to start vinyl collection now especially with their grubby little hands. Ween will be easy. Chocolate and Cheese. Figure around 13 they will be drawn to album..hah. Guess I will dust off my 20 year old NAD amp, those old Sennheiser headphones and my Brit made floor speakers. Man, these kids will feel like they are playing the Victrola. What a shame this new technology. Half the fun was looking at artwork and reading album notes. All gone now..
Back in the day, a strongly-worded letter from the Senate Judiciary Committee Chairperson basically saying, “Who are you to make demands upon the United States Senate?” would end this little charade.
Unless I’m missing some reference… while this situation is crazy, let’s not forget Senators are public servants too.
Bruiser says:
September 20, 2018 at 6:32 pm
Back in the day, a strongly-worded letter from the Senate Judiciary Committee Chairperson basically saying, “Who are you to make demands upon the United States Senate?” would end this little charade.
The funny think is that everybody has an opinion about ol’ Doc Ford but she hasn’t said anything and nothing official has been even hit the desks of the Judiciary Committee. All you have is a report in WashPo, a report in the New Yorker, and the usual blather on cable TV. If ol’ Doc Ford doesn’t come forward there is literally no there there. The Dems haven’t even released her letter(s).
“Ensure her safety? Wtf is this? The Bourne Identity?”
Yeah, had me scratching my head too. Luckily, Babbel has a Liberal Drivel to English translator:
“provided that we can agree on terms that are fair and which ensure her safety, her lawyer said Thursday.”
equals
“we get to say whatever we want unchallenged, you agree to not ask her any questions that may expose the holes in her story, you are certainly not allowed the same unintelligible ranting that Maxine Waters regularly subjects your witnesses, and there must be absolute crowd control as we will not accept any protests in chambers especially any antics at all like those we pulled on the nominee”
Easy peasy.
“The trend bucks the tradition of the ultrawealthy paying cash for their super-pricey homes. Mort-gage experts attribute the shift toward so-called “superjumbo loans” over the past couple of years to rising real-estate prices across the country and the historically low interest rate environment, which encourages wealthy buyers to borrow against their real estate to free up cash to invest elsewhere.”
https://www.wsj.com/articles/what-beyonce-and-these-billionaires-have-in-common-massive-mortgages-1537457152?emailToken=508e7ba49ceabbe3d56640a9251e1da9iENZr6vgMTMjPpfNcFETgwBhwUcPJxCPrr8oy33acCV1L53385LbzjDLoQBL1LwAtUH4h6spOMc6uTKy1hLv+h7o+cHwcI2yHcNYYUTkZcHUsum3SxXy2Mnkx90anQE9&reflink=article_copyURL_share
Bystander hates income inequality, he just doesn’t realize it yet. I’m just grateful to be on the right side of income inequality.
Some Companies Spend Plenty to Lure Executives Willing to Relocate – The Wall Street Journal
https://apple.news/A2u7k_4VqRvG_Az8FPE4BAA
Njd,
Both my properties have continued to rise in the trulia and Zillow estimates. I stand by my call as Wayne, Paramus, and Fairfield as good buys as appreciation aka spillover hasn’t hit these areas to their potential.
As Essex said, no one wants the suburbs except families. Families will come in the north jersey area because they will follow the jobs. The jersey Gold Coast just told you everything is about to get more expensive in the search for best value aka spillover appreciation.
Lib – Mopeds or motorcycles are fine with me! I like $50 per day too. Double no homo;-)