From NJ Patch:
Approximately 1,000 NJ Jobs Will Be Gone By The New Year
Some of the announcements came before the stock market plummeted on Tuesday, and talk of a possible recession arose. But the sting of about 1,000 layoffs coming to New Jersey will still hurt nonetheless.
New Jersey will have at least 1,311 layoffs within the next two months – 826 of which will come by Jan. 1. Much of the layoffs will happen in retail, where New Jersey has had a number of store closings this year, and in the health care industry.
…
Gov. Phil Murphy addressed the issue recently when he responded a report from The United Way that said more than 1 million families in New Jersey are “income-constrained” He said the assessment “proves beyond any doubt” the need for efforts to both grow the economy and make it more fair.Murphy said his economic agenda has a clear focus on creating good new jobs and on expanding workforce development.
“But, we must also recommit to taking immediate action to raise New Jersey’s minimum wage and put it on a path to $15 an hour,” he said. “The Legislature has given its strong support in the past to raising the wage. I have never wavered in my commitment. We must make this a legislative priority and work to enact it before the end of the upcoming holidays. Economic stability would be among the best holiday gifts we could possibly give our ALICE families. We can, and must, deliver.”
First
Reality,
limited immigration, $15 minimum wage, medicare for all, and legal pot = life bearable for 90%
Randian fantasy world,
market starving rate, a lot of immigrants, rentier olipolitistic health pharma complex and no pot = a hellish Mississippi like nightmare that will end in violence one way or another.
People to Murphy: Taxes are too high. Cut the taxes.
Pot Revenue = Gambling Revenue
Pipe dream, literally.
I hear NY State might legalize pot before NJ now.
What was the tax estimate? Whatever the pols say, I say it’ll be a quarter of it. We’ve lost any kind of first-mover or exclusivity advantage we might have had.
Of course, they’ll spend based on their idiotic estimates, and we’ll find ourselves shocked at the hole they’ve dug.
$15 minimum wage, medicare for all, and legal pot
Why stop there? What else can we pilfer from the productive class to secure votes for the leftist movement?
grim,
What is your opinion on Morristown? It has the train and the “walkable downtown”. But it is very far from NYC relatively to all the towns regularly mentioned here.
Pot tax revenue I heard was $130 million on a $31 Billion budget.
I believe that is 1/3 of 1 percent
Legalize Prostitution while they’re at it
The only thing you produce is bullish!t.
Fast Eddie says:
December 10, 2018 at 8:42 am
$15 minimum wage, medicare for all, and legal pot
Why stop there? What else can we pilfer from the productive class to secure votes for the leftist movement?
America’s wealth is concentrated in the swamp (our public “servants”)
https://www.axios.com/economic-inequality-united-states-washington-dc-a9936767-6355-4934-89f9-5e99e6322339.html?utm_source=twitter&utm_medium=social&utm_campaign=organic
The five counties with the highest median incomes all surround Washington, D.C.
– Loudoun County, Va.
– Fairfax County, Va.
– Howard County, Md.
– Falls Church City, Va.
– Arlington County, Va.
Ottoman,
As long as my dividends keep coming, that’s all that matters. F.uck you, pay me.
They’re about to break ground on $400-500k townhouses in the Hollow, Morristown/Morris Township’s poorest neighborhood which is between the train station and the new Starbucks on Hanover ave. Which is also next to the new Shoprite, Old Navy, Homegoods, and a Lowes that is currently under construction. And that’s a year after a large development of $900k townhouses directly next to Route 287 sold out in months and a Whole Foods moved in (in another one of Morristown’s discount neighborhoods). Now might be a very good time to bottom feed for cheap houses in the area.
It can be hard to live anywhere near enough to the train station that its comfortable to walk to every day. Although the Hollow fits that bill. And IMO, they really need another exit on 287 between downtown (Lafayette/Ridgedale) and Route 10 that doesn’t involve Route 24. Hanover Ave would be perfect.
joyce says:
December 10, 2018 at 8:49 am
grim,
What is your opinion on Morristown? It has the train and the “walkable downtown”. But it is very far from NYC relatively to all the towns regularly mentioned here.
Is that what you call your sh!ts?
Fast Eddie says:
December 10, 2018 at 9:39 am
Ottoman,
As long as my dividends keep coming, that’s all that matters. F.uck you, pay me.
Two of those “counties” are single towns. If Short Hills and Summit were their own counties, they’d be on the list too.
The five counties with the highest median incomes all surround Washington, D.C.
– Loudoun County, Va.
– Fairfax County, Va.
– Howard County, Md.
– Falls Church City, Va.
– Arlington County, Va.
Two of those “counties” are single towns. If Short Hills and Summit were their own counties, they’d be on the list too.
Defend the looters and parasites… justify the taker mentality. Government deserves your money because they’re looking out for you.
My favorite part of Costa Rica trip. Father of AIR B&B owner while driving us back to the airport for our fateful flight. First he says, “I am 75 but my wife is 55 (or something similar).” Then he gleams in pride and says, “You know, in 1948, our government dissolved our military.” He added,”In 2025, all cars must be battery powered.”
Some crazy cheap things.
Uber – 25 minute drive from rental car return to the Air BNB was under $8.
Sim Card for iPhone – also under $8. Provided enough internet for 8 days of frequent use (4GB), ten minutes of local calls and 3 minutes of cell. Oh yeah…their internet is faster than ours and the country is much more wired for free WiFi than ours is.
Imperial (Beer) – comes in three varieties and can be purchased anywhere and everywhere. Red (tastes like regular Bud), Blue (Bud Light) and Silver (Coor’s Light) can be had for $2 a bottle/can at nearly every restaurant. You can buy a 15-pack for $15 in the supermarket. They also sell Pilsen (a Colombian Pilsner) for the same price.
One of my buddy’s is an avid surfer and he would say “you have to come down to Costa Rica and see how happy people are with less…”
Says a lot I think. Less sometimes is really more.
On that note – pumpkin – just broke down and bought a new iPhone X –
That’ll keep appl in the black – Hahahaha
NY Real Estate still red hot….!!
Flames burst out of the windows of the townhouse at 854 Fifth Avenue – which is home to the Serbian Mission to the United States – after a fire broke out on the third floor at around 8.40pm on Sunday. The two-alarm fire was declared under control shortly before 10pm, CBS New York reported. Three firefighters and a civilian were injured in the blaze, the FDNY said. The Beaux Arts mansion – which has 32 rooms, eight bathrooms and two elevators – on Manhattan’s Upper East Side is listed for sale with an asking price of $50 million. Built in 1905, it was designed by the same firm who worked on the iconic Grand Central Terminal. It has a storied history, and its residences include members of the Vanderbilt family and Soviet allies during the Cold War. The 20,000 square foot mansion was then fortified with bulletproof windows facing Central Park and the top floors became a Faraday Cage so Cold War meetings could be held without being wire tapped. During the Cold War, Yugoslavian leader Josip Broz Tito hid out after an assassination attempt on him at the Waldorf Astora in 1963.
“Ottoman says:
December 10, 2018 at 9:50 am
Is that what you call your sh!ts?”
So I’m not the only one who names my Ottomans?
Rule 1: If it has a stick shift, you’re supposed to drive it that way.
Rule 2: If you want it to run fast, you have to break it in fast. Since it only had 1200km on the odo when we picked it up, I had an implied responsibility to future drivers of the car to break it in correctly.
Libturd says:
December 4, 2018 at 10:54 pm
We ubered fine tonight. Not once did we feel unsafe this week. Well, except when ExPat thought our compact SUV was a Lamborghini.
I just received a letter from the Costa Rican government. Apparently I am officially the fifth fastest driver in the country. I’ve been invited back for a rematch against the kid in the Toyota Yaris, but this time he won’t be allowed to have the mattress roped on top. Apparently it gave him an unfair aerodynamic advantage on steep corkscrew descents.
Libturd et al.,
DOW down just over 10% from peak. Time to jump in or do we have further to fall?
^^^Don’t catch the falling knife, wait and catch the verified trend reversal. I’ll let you know when my overall posture changes from bearish to neutral, neutral to bullish.
What ExPat said!
I’d wait on 90% of stocks. Definitely a falling knife. But some companies are paying decent dividends and I’m content to get paid while I wait.
I’ve learned the mark of a successful investor is to always go in and never pull out. ;)
500 N.J. workers face layoffs as maker of Healthy Choice, Hunt’s closes 2 facilities
https://www.nj.com/business/2018/12/500-nj-workers-face-layoffs-as-maker-of-healthy-choice-hunts-closes-2-facilities.html
How much did you get paid since buying these at higher prices one week ago?
I’d wait on 90% of stocks. Definitely a falling knife. But some companies are paying decent dividends and I’m content to get paid while I wait.
Blue Ribbon Teacher says:
December 4, 2018 at 10:41 am
Sold most of the ARLP I held and bought over the past 3 years yesterday. It’s time to go back into safety mode. Proceeds were spread over Altra, Phillip Morris, Exxon Mobile, Verizon, Coke, Pepsi, and a Singapore Index. Most of these things are paying 5% and I can’t see dividends being cut.
You may be confusing the stock investing with welfare and food stamps;-)
I’ve learned the mark of a successful investor is to always go in and never pull out. ;)
lol
How much did you get paid since buying these at higher prices one week ago?
Zero…but I can always buy more. I don’t see strong companies with low debt going much lower. I did the same thing at the end of 2008. Watched the stock go lower. Fast forward 10 years, dividends are 4x what they were in some cases.
12:56 she hates it when I pull out…..
Lower than what? Is there a secret score card? Is there a single P/E value or specific dividend yield that applies to all blue chips as a guardrail or are there different values for each?
You have to admit, “I don’t see strong companies with low debt going much lower.” is kind of Pumpkin-speak. Now, you’ll probably be fine owning most of those companies long term, but there is empirical technical and fundamental analysis that you can do, taking into account the risk-free rate of return, of course.
Zero…but I can always buy more. I don’t see strong companies with low debt going much lower.
Nate’s is as cheap as ever. Plus they pay a dividend in rich, buttery, breakfast discs.
Of course, when she sees you walking around the room eating a sandwich is the first that she notices you did. Maybe make her a ham and Swiss too and she won’t mind so much?
12:56 she hates it when I pull out…..
Shhh! Secret product launch coming out soon. Batter and syrup in the same can! Genius!!!
Nate’s is as cheap as ever. Plus they pay a dividend in rich, buttery, breakfast discs.
Markets turned positive
You have to admit, “I don’t see strong companies with low debt going much lower.” is kind of Pumpkin-speak. Now, you’ll probably be fine owning most of those companies long term, but there is empirical technical and fundamental analysis that you can do, taking into account the risk-free rate of return, of course.
It’s not even close to pumpkin speak. If they have low debt, they aren’t going to be greatly affected by interest rate rises and if they can maintain their dividends, there is obviously a floor in place based on their rate of return. We are at a low unemployment rate. I don’t see people consuming less oil. I don’t see people smoking less nicotine. And I don’t see them buying less soda or ketchup. Boring business models are good in this environment.
In 2009, once these companies announced their dividends, which were down post financial crisis, that was the time to lock in. People thought they would continue to go lower. This time around, I don’t even see them going lower.
In fact, I think the Fed will try to reflate even worse this time around.
Yeah, but you already gave away a couple quarters of dividends by thinking you could call the bottom.
Joyce,
Convent Station area very nice. Townhomes right next to St. Elizabeths so 3 min walk to inbound train and 45 sec walk to outbound train. Also SFHs within 3 min drive and Rod’s Red Dog has good happy hour drinks and food.
Minimum wage fear mongers.
Did Seattle die yet from the 15 dollar min wage? Did massive bankruptcies occur?
Lesson here, try the experiment out before you start spitting out nonsense theory as fact.
If nj raises the minimum wage, I guarantee you it has the opposite effect claimed by the end of the world band camp.
If they can eliminate a job on the basis of increasing profit, a higher min wage will not accelerate this…..because if they could eliminate the job already, they would have done so. Whether the min wage is 8 dollars or 15 dollars an hour, management decided a long time ago that those jobs would be replaced by automation as soon as the tech was available.
2:22 no it’s the mess it makes. She’s a neatnik
Great NJ themed quote from a legal article I was reading:
“The letter had also advised the Boiverts that they could file an appeal with the New Jersey Department of Banking and Insurance (otherwise known as the legal equivalent of closing your head in a car door repeatedly)”
I’d be more scared of automation and outsourcing to other countries than a rise in the min wage. Min wage only putting more money in the customers pocket to create demand…..automation and outsourcing results in one giant sucking sound in the pockets of your customers, hurting long term demand aka business activity significantly.
All this outsourcing and automation didn’t hurt business growth YET because they created demand by loaning the consumer significant amounts of money to keep up demand. You cheat your worker, hence, you are cheating your customer out of their ability to produce economic demand.
Christie’s name floated as chief of staff of WH
Never claimed it was a bottom. I see value, I buy. I have no idea where a bottom lies in this market.
I’m also willing to wait more than a week to see if my purchases were the right move.
“Ultimately, you’ve got one market per world region, and those are the financial centers,” says Liam Bailey, the global head of research at Knight Frank. “There are a lot of people making a lot of money, and they’re willing to pay significantly more to access the right product.”
“It turns out that “you’ve had a growth in the top-tier market which is slightly divorced from the main ‘prime’ market,” Bailey says. In other words, even as housing for the wealthy sinks, the market sustained by the super-rich is still robust.”
“Bailey says that the perception that the very top of the market is in trouble is the result of oversupply, not waning demand.
“There’s more inventory,” he says. “In New York’s case, the story has been about the slowing market. But the background is that the market has actually grown in sales, but there’s just that much more property to purchase.”
Combined transaction levels in New York, London, and Hong Kong, the report says, have increased by 12 percent in the last two years, “with growth set to continue.””
https://apple.news/AIgZ1AoiLSnqFixTR4jFc_Q
“We find that on several dimensions, the behaviour of the data over the last four quarters in the U.S., Eurozone and Japan is completely incongruous with any of the recessions that took place since 1980,” write Pierre Lafourcade and Arend Kapteyn of UBS.
Mr. Kapteyn, in an interview, said the model is consistent with a “sharp slowdown” in global growth, but not the end of the business cycle.
Productivity growth and consumer spending, for example, tend to slow before downturns set in. In the U.S., they’ve picked up. U.S. consumer spending, for example, was up 2.9% in October from a year earlier, adjusted for inflation. That’s better than the average of 2.4% over the past four years. Growth in worker productivity in the second and third quarters was among the best of the expansion.”
https://apple.news/AqG5uqGszQz-h4WawyPgJ4g
Harvard Quietly Amasses California Vineyards—and the Water Underneath
Making a bet on climate change, the university’s $39 billion endowment has been snapping up farmland and the related water rights
https://www.wsj.com/articles/harvard-quietly-amasses-california-vineyardsand-the-water-underneath-1544456396?emailToken=99203ab0ccde692dc7b26fd98782cd92eehWDNXM1skuBf1xE0CjfdgMk1WlKV6u2A1+6ILdnFNLxJ6iZ7qWiIkfkSbR/uSj6DJ/jfk4mS/nR1zSY0uNxgifuaBZYkYYpvQMiLpvjJAvX4PLpLvoHDkAhc8uqepi&reflink=article_copyURL_share
BRT: Not trying to pick a fight with you, but I can’t agree with this analysis…… by definition, every investment opportunity is in competition for your finite investment dollars….. fka hurdle rate…. if interest rates go up, your stock is worth less, debt or not… simplifed as the time value of money…
Your high dividend stock with no growth is effectively a bond with no maturity date….. it therefore would have a higher duration….. what is the definition of duration?
Blue Ribbon Teacher says:
December 10, 2018 at 2:43 pm
It’s not even close to pumpkin speak. If they have low debt, they aren’t going to be greatly affected by interest rate rises and if they can maintain their dividends, there is obviously a floor in place based on their rate of return. We are at a low unemployment rate. I don’t see people consuming less oil. I don’t see people smoking less nicotine. And I don’t see them buying less soda or ketchup. Boring business models are good in this environment.
Christie can float?
D-FENS says:
December 10, 2018 at 6:07 pm
Christie’s name floated as chief of staff of WH
That’s fine, you don’t have to agree. Like I said, I’m content to wait. 2009 to present, not only did my dividends multiple but some of the stocks did as well. We’ll see what happens.
If you guys have better ideas, I’m all ears.
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Lighten up on the condiments?
2:22 no it’s the mess it makes. She’s a neatnik
Hmmm…. Interesting how “value” suddenly flashed on in all those stocks at exactly the same moment in time, giving the appearance of something else entirely. Maybe it was the “It’s time to go back into safety mode.” flashing light I’m thinking of? At least you made your “call” on a known date and backed it with your own money.
Never claimed it was a bottom. I see value, I buy. I have no idea where a bottom lies in this market.
It’s time to go back into safety mode.
My bottom is large.