From the Press of Atlantic City:
NJ wage support complicated, less effective than stronger economy
New Jersey lawmakers have hobbled the state economy with the worst business tax and regulatory climate in America. That costs residents a lot of prosperity and quality of life.
Rather than address the government actions that keep New Jersey lagging behind the national economy, they choose more spending, more debt and making a show of trying to help some. Raising the state’s minimum wage eventually to $15 is one of these attempts to provide symptomatic relief instead of working toward a cure.
This month marks the start of the complex multiyear process, with the minimum for nearly a quarter million workers rising to $10 an hour from $8.85. Even they won’t see $15 an hour until 2024. And the burdens of paying the higher wages will begin later for many, including taxpayers, as lawmakers try to avoid or delay harms to the state’s economy.
…
Since the wage boost is expected to eliminate jobs for young and inexperienced workers, a bill in the state Senate would give employers of teenagers as much as $10 million in tax credits to offset their higher wages and payroll taxes. That would mean a loss of some corporate and gross business income taxes, which presumably would be made up by other taxpayers since state spending only increases.
Under the just-enacted state budget, taxpayers are already paying $65 million to cover the increased costs of some employers, including nursing homes, home health and personal care firms, providers of child care to Work First New Jersey recipients, and providers of services to the disabled.
Taxpayers actually will pay twice, since one of the ways businesses will adjust to state-mandated higher wages is by raising prices. Another will be to cut employees.
…
These efforts to mitigate the negative effects of government-mandated higher wages raise a couple of questions. Might it have been easier, more direct and more effective to provide a suitable earned-income tax credit (or increase for those already getting that) to heads of households in minimum wage jobs?
Better still, New Jersey could reduce its tax and regulatory burden, unleashing years of strong economic growth that would create more jobs and compel employers to pay more to fill them. That would put more low-wage workers on the path to the middle class.
Instead, starting-wage jobs will pay better but be scarcer, hurting some of the people lawmakers are trying to help. State officials should at least take another NJBIA suggestion and study the impact of their wage-mandate regime. In its complexity and conflicting effects, it may be more of a drag on New Jersey’s economy and residents than they realize.
From HousingWire:
Americans haven’t been this good at paying their mortgages in more than 20 years
Americans are better now at paying their mortgages on time than they have been at any point in the last 20 years, a new report from CoreLogic shows.
According to CoreLogic’s latest monthly Loan Performance Insights Report, the national delinquency rate (mortgages that are in some stage of delinquency, meaning those that 30 days or more past due and including loans in foreclosure) sat at 3.6% in April.
That’s the lowest national delinquency rate in more than 20 years, CoreLogic said.
It’s also a significant decline from the same time period last year, when the delinquency rate was 4.3%.
The decline in April continues a trend that stretches back more than a year.
According to CoreLogic’s report, the nation’s overall delinquency rate has fallen on a year-over-year basis for the last 16 consecutive months.
…
“Thanks to a 50-year low in unemployment, rising home prices and responsible underwriting, the U.S. overall delinquency rate is the lowest in more than 20 years,” Nothaft said.
From CNBC:
The housing market is about to shift in a bad way for buyers
ompetition in the housing market finally began to cool this year, as listings multiplied and price gains moderated. Bidding wars became less frequent and spring sales perked up a bit. Well, forget that. The heat is on yet again.
The housing shortage that fueled competition and resulted in sky-high price gains throughout 2017 and the first half of 2018 is on the horizon yet again. Supply is soon expected to drop and potentially hit a new low, according to realtor.com, after increasing in the second half of last year.
The number of for-sale listings was up 2.8% annually in June, but that was down from May’s 2.9% gain. Inventory gains began to slow this year from 6.4% growth in January to 5.8% in February. Gains continued to slow throughout the spring and supply is now expected to flatten over the next three months and could hit its first decline in October of this year, according to realtor.com
“It was only 18 months ago that the number of homes for sale hit its lowest level in recorded history and sparked the fiercest competition among buyers we’ve ever seen. If the trend we’re seeing continues, overall inventory could near record lows by early next year,” said Danielle Hale, chief economist at realtor.com. “So far there’s been a lackluster response to low mortgage rates, but if they do spark fresh buyer interest later in the year, U.S. inventory could set new record lows this winter.”
Part of the issue is that fewer owners are now listing their homes for sale, and there are several reasons why.
“It’s likely a combination of rate-lock, recently decreased consumer confidence and older generations choosing to age in place,” added Hale.
Banana man say “it’s a great time to buy bananas, mon. Hurry before they be gone”.
White people are good that way;-)
Americans are better now at paying their mortgages on time than they have been at any point in the last 20 years, a new report from CoreLogic shows.
https://nj1015.com/after-minimum-wage-hike-nj-considers-tax-breaks-for-hiring-teens/
“One of the unintended consequences of increasing the minimum wage is the unexpected decrease in the employment of young people,” said Mike Wallace, vice president of government affairs for the New Jersey Business and Industry Association. “As the minimum wage increases, employers are going to be less likely to hire youth workers with limited skills, so this bill would just make it feasible for an employee to hire people under the age of 18.”
A bill endorsed last month by the Senate Labor Committee, S3483, that Wallace said is likely to be considered by the Legislature in the fall would provide employers refundable tax credits they could use to offset business or income taxes. Combined, the credits could reach $10 million a year.
“The bill would provide an employer with a refundable tax credit against the corporate business tax or the gross income tax, for the extra wages and payroll taxes paid to a worker under the age of 18,” said Wallace.
The law that increased the minimum wage includes $10 million in annual tax credits for employers with workers with disabilities.
The minimum wage increased from $8.85 an hour to $10 on July 1. It will increase by $1 each Jan. 1 for the next five years, reaching $15 an hour at the start of 2024. It will then continue to increase to keep pace with inflation.
When the minimum wage was being debated in the Legislature, there was consideration given to excluding youth workers, but the idea was shelved. There are still some places that are not required to pay minimum wage, such as boardwalk and other seasonal amusements, summer camps and libraries.
“One of the unintended consequences of increasing the minimum wage is the unexpected decrease in the employment of young people,”
Really? Who could possibly correlate the increase in minimum wage to a decrease in unskilled labor jobs…who…who..who..?
This is the problem with the min wage debate, it’s biased. People that are against it are only looking at it from a business standpoint as opposed to an economic position. They only look at it as hurting business(they will have to reduce labor because costs went up). Such a short sighted position, but understandable when you realize the position is sourced from self interest. So they totally ignore all the benefits it will bring to our economy, and only focus on their bottom line. Do they realize their bottom line will increase as economic growth is fueled by higher consumer spending and higher tax revenue, aka redistribution of profit back from the top to the bottom, to bring much needed balance in the economy.
“State officials should at least take another NJBIA suggestion and study the impact of their wage-mandate regime.”
As the money is redistributed from the top to the bottom, it is then returned back to the top with the result being that they now have more at the top from the investment in consumer demand that fueled economic growth.
If bottom wages were really too high, there should be no min wage increase as it would hurt economic growth. When you have cars avg 33,000, rent avg 1300, and homes avg close to 300,000; an 8 dollar wage is a joke. Something is wrong as the wage is meaningless, since it can support much spending in a high cost economy.
Moral of the story, if the consumer can’t support pricing, you will get deflation…no one wants that. Increase the wages and bring on inflation and let the economy grow and expand, the alternative is horrible. We don’t want deflation. We don’t want the price to meet a lower wage…
But the cops in Starbucks need to move because they make people uncomfortable.
https://nypost.com/2019/07/10/wild-video-shows-group-of-60-teens-looting-philly-walgreens/
Beat me to the punch…… that is either plain pandering or the guy is an ignorant idiot beyond belief.
1987 Condo says:
July 10, 2019 at 9:02 am
“One of the unintended consequences of increasing the minimum wage is the unexpected decrease in the employment of young people,”
Really? Who could possibly correlate the increase in minimum wage to a decrease in unskilled labor jobs…who…who..who..?
Isn’t this just progress? Don’t we want this? This is simply the evolution of the economy.
“Really? Who could possibly correlate the increase in minimum wage to a decrease in unskilled labor jobs…who…who..who..?”
Grim. Can you create an option to hide posts from particular posters? It wasn’t so bad to ignore them when they were once in a few. But they’ve been like a bad case of diarrhea lately.
Isn’t there some just flat out plain personal, ethical, or moral obligation that one has to oneself to strive to be competent in one’s endeavors? Especially when one is in a leadership role?
Watching the Powell testimony….including the Representatives. In particular, nearly back to back, David Scott (GA) and James Himes (CT).
Scott has been a Rep since 2003. Sixteen years of Congressional experience. Allegedly a Wharton grad. Fcuking embarrassment. Nearly inarticulate. Can’t even discern LIBOR (keeps calling it LIBRA, the Facebook crypto). Has a seat on the Banking Committee.
Contrast with Himes, fully prepared, no script, pointed interactive exchange on specific topic supported by facts, logic, and debate.
It is truly frightening. The level of incompetence evidenced by Scott is singularly the greatest threat to our representative democracy.
Painful to watch. Kind of like when Pumps ‘debates’ Chifi here…the contrast is blindingly embarrassing.
re: “lowest national delinquency rate”
What do we have to do to raise this? We cannot have low anything, this is America after all. Homeownership is also at a 25 year low rate, new home sales and building permits are at nearly a 27 year low.
It’s time to take a chainsaw to regulations again and the Fed dammit better start rate cuts rates again and again until everyone has a chance at the American dream of home ownership, then delinquency, then default and then divorce!
Lw- It sounded to me like Scott was calling LIBOR something like “libbrus”. While he was clearly following up other reps questions on libra, but clearly talking about what he thought he knew about LIBOR. I couldn’t wait to see if Powell would have the balls to say LIBOR correctly in his answer.
Scott has been a Rep since 2003. Sixteen years of Congressional experience. Allegedly a Wharton grad. Fcuking embarrassment. Nearly inarticulate. Can’t even discern LIBOR (keeps calling it LIBRA, the Facebook crypto). Has a seat on the Banking Committee.
I’m going to go out on a limb here and say that Trump is playing reverse psychology on illegal immigration.
He isn’t against it, in fact, he loves it. The more he jawbones against it, or takes action, the more the democrats scream, the more the judiciary loosens restrictions, and the more illegal immigrants being allowed in.
I suspect this is actually the point.
He knows cheap labor is key. Same reason he railed about H1B, but hasn’t actually done anything to stop it.
Looking at deficit growth, attack on the Fed. Clearly Trump is looking to drive growth and inflation by any means possible. Allowing a major increase in illegal immigration will drive these, like it or not. Given the excruciatingly low birthrate in the US, what other options are there? Low birthrate and lower in-migration are significant deflationary trends.
Fairly unique in that he can have his cake and eat it too. The more he rails against it, the more it rallies his base.
Not sure how else you explain this, but the more he attacks it, the more lose the border becomes, the more “sanctuary” cities become.
“I couldn’t wait to see if Powell would have the balls to say LIBOR correctly in his answer.”
LOL, I was waiting for that too. Powell is brilliant politically….elegant dodge of the totally loaded question on bailing out Detroit, just said that the correct poverty rate is zero, doing a total heisman on every minimum wage question…
I’m trying to tie it all in to markets for a ST trade…some movement on July Fed futures…not getting the overall warm and fuzzy that there is a rally on the back of his testimony today and tomorrow…wish the S&P held above 3k…good sell sign would have been if it punched through with confidence then went sideways for a day or two…
Scratching my balls and staring at two screens, should have just gone to the shore…did throw on a DAL earnings play for tomorrow though.
Anyone have firm views on short term (30-45 days) market direction?
One signal I watch closely is flashing a reversal….100 point area on the SPX
ExPat, you still playing with vol?
Lib?
“BET Founder Bob Johnson, who supported Crooked Hillary in 2016, said that the Democrats have moved “too far to the left.” He also said I deserve an “A+” for our strong economy!”
https://www.cnbc.com/2019/07/09/democrats-too-far-to-the-left-bet-networks-bob-johnson-says.html
More examples of nonsense construction regulation in NJ. Police had zero right to do this.
https://www.nj.com/middlesex/2019/07/man-ties-rope-to-pickup-truck-to-demolish-nj-warehouse-police-told-him-to-stop.html
Left. No views whatsoever. But I continue to slowly sell off long stock positions and rotate into more non-discretionary names. This bull feels like a raging POS.
Grim – NJ dot com fishing for clicks, the police responded to a call about a collapsed building and the dust created, it was the code official who issued the stop work order. It would be improper if they were messing up the neighborhood with dust, they are supposed to spray water and did not have a construction fence up with signs around the property etc. There are other reasons too such as liability insurance etc, plate from truck looks to be NY so contractor may have been unlicenced etc.
https://www.nbcnewyork.com/news/local/Police-Share-Hilarious-House-Demolition-Dont-Out-of-New-Jersey-512479202.html
U can’t hide from stupid Lib. It wins elections. Having some insights into many scenes from many different malls, let me say wherever you go you just hope for the best. But lately stupid is at the controls.
grim – and the more illegals being let it, the more supporters the President acquires from the middle. It’s kind of like if you had a large population of levee deniers in New Orleans. If this population was so deranged that they thought leaking levees required no repair and that it was a manufactured crisis, better to maybe let them leak more until the undecideds are undecided no more? Never let a good crisis go to waste.
I’m going to go out on a limb here and say that Trump is playing reverse psychology on illegal immigration.
He isn’t against it, in fact, he loves it. The more he jawbones against it, or takes action, the more the democrats scream, the more the judiciary loosens restrictions, and the more illegal immigrants being allowed in.
ROFL – guess she is going to need another raise.
“Ocasio-Cortez faces lawsuits for blocking Twitter critics after appeals court ruling on Trump”
“Republican congressional candidate Joseph Saladino and former New York assemblyman Dov Hikind sued the freshman congresswoman Tuesday, shortly after a New York appellate court upheld an earlier decision affirming that President Trump violated the First Amendment for doing the same.
“I have officially filed my lawsuit against AOC for blocking me on twitter. Trump is not allowed to block people, will the standards apply equally?” Saladino wrote on Twitter after filing his claim Tuesday in the Southern District of New York.”
Twitteratti
Interesting article in the Washington Post yesterday about the rise of the one child family the percentage has risen from 11 to 22 percent and is continuing to slowly rise. Interviews various couple and experts as to why. And combination of later marriages later ages for having children. Costs of raising a child including day care. And apparently many of these one child families are staying in the urban areas.
Look at NYC. The cost of moving to 3 bedrooms isn’t proportional to moving to a 2 bedroom from 1, if you can even find a 3 bedroom rental.
LOL. Technicians say “divergent highs”, not “raging POS”, but it’s really a difference without a distinction.
Left. No views whatsoever. But I continue to slowly sell off long stock positions and rotate into more non-discretionary names. This bull feels like a raging POS.
After working as a policy consultant on Murphy’s campaign in 2017, Cary Booker became the administration’s senior education adviser in 2018, earning $120,000. This June, six days before Murphy stumped for Cory Booker’s presidential campaign in Iowa, the Democratic governor’s administration awarded Cary Booker a new $150,000 position leading the state’s Division of Early Childhood Education, which focuses on birth to third grade.
Yet Cary Booker has never worked in preschools in any capacity, and his primary experience with young elementary school students was at Omni Prep, according to a resume obtained through an open records request. His tenure as an administrator at the small charter school should raise questions about how qualified he is to lead a department shaping pre-K and early elementary education for an entire state, former employees said.
“The only reason he got that job is his brother,” said Houston, who said Booker let him go for financial reasons during Omni Prep’s inaugural year. “I don’t know who would entrust him with that kind of authority, autonomy and responsibility.
“Why on God’s green earth would you give a guy that kind of responsibility?”
https://www.nj.com/education/2019/07/cory-bookers-brother-opened-a-school-so-bad-it-got-shut-down-nj-just-gave-him-a-150k-education-job.html
Political privilege…
https://www.nj.com/education/2019/07/cory-bookers-brother-opened-a-school-so-bad-it-got-shut-down-nj-just-gave-him-a-150k-education-job.html
Glad to see we are on the same page…
Washington: The US House of Representatives will vote Tuesday on a legislation that seeks to lift the country-cap on issuing green cards.
Being supported by more than 310 lawmakers from both the Republican and the Democratic Party, the Fairness for High-Skilled Immigrants Act is all set to sail through the 435-member House of Representatives.
Buoyed by the fact of 203 Democrats and 108 Republicans co-sponsoring the bill, the proponents of the legislation are using a fast-track process which requires 290 votes to pass a bill without hearing and amendments.
H.R. 1044, – would be bad for the body shops, they will lose their indentured servants sooner none were for the bill, the Hospitals also took issue with it since it pushes the nurses from the Philippines to the back of the line in favor of Indian engineers.
“They had no idea what the hell they were doing,” said Donnie Houston, a former Omni Prep principal who criticized Cary Booker, now 52, and his co-founder Marc Willis. “They had no clue, and it was really just, for lack of a better word, a clusterf—. Excuse my French, but it was.”
Yes, keep supporting charter schools. Private sector f up, now gets his brother to get him a job. Sad part, if Cory was a big shot in the private sector, his brother would still be getting an equivalent job in some large corporation. That’s the sad truth…
grim says:
July 11, 2019 at 9:21 am
“They had no idea what the hell they were doing,” said Donnie Houston, a former Omni Prep principal who criticized Cary Booker, now 52, and his co-founder Marc Willis. “They had no clue, and it was really just, for lack of a better word, a clusterf—. Excuse my French, but it was.”
The Corleone family had one Fredo. The Booker family has two
Bookers brother landing in the state DOE ensures he can’t screw up anymore. The DOE is useless and any policies or directives they give are usually ignored at the classroom level. The only people that blindly follow directives from DOE and admin down are elementary teachers.
Blue – He was Tennessee’s problem and now he is ours, no way this guy should be on the state payroll leading a pre-k program.
This is the music that Pumps fears when his wife comes home from a bad day at work.
https://www.youtube.com/watch?v=AGaOjjAChEc
Lefty,
You always ask for short ideas. Was just thinking. Ever consider Netflix? Feel bad for them, but they might not survive this coming competition. Scary to bet against them, but could be a good move.
I wouldn’t bet against any non-carrier-affiliated streaming company. Do some work today with some of the bigger streaming players. They are highly optimized from an operating perspective. Do lots of work with traditional cable companies as well, they are very very far from being optimized.
5G has the ability to really shake things up from a cord-cutter connectivity perspective.
“I can’t get over how Tom Steyer snookered millions of people with a multi-year “Impeach Trump” initiative so he could eventually use the resulting email list to run for president. Crafty!”
Definitely. That’s what makes it a scary bet. Make no doubt about it, though, the big boys are coming for their market share. Hopefully they invested enough in their studios so that they can hold off the coming attack.
grim says:
July 11, 2019 at 10:25 am
I wouldn’t bet against any non-carrier-affiliated streaming company. Do some work today with some of the bigger streaming players. They are highly optimized from an operating perspective. Do lots of work with traditional cable companies as well, they are very very far from being optimized.
“The Dow Jones Industrial Average crossed 27000 for the first time, after the Trump administration dropped a plan that would have upended the health-care industry”
“The Trump administration said it is dropping a plan to curb billions of dollars in annual rebates that drugmakers give middlemen in Medicare, a move that had the potential to disrupt the U.S. pharmaceutical industry. UnitedHealth soared 4.5%, leading the Dow industrials higher.”
https://www.wsj.com/articles/global-stocks-extend-climb-11562832040
Blue – He was Tennessee’s problem and now he is ours, no way this guy should be on the state payroll leading a pre-k program.
The state DOE should be abolished, they don’t do anything. Those positions shouldn’t even exist.
There is no hope for lowering health care costs. Too many people feeding off the easy money. Healthcare industry is a glaring example of how dangerous and corrupt the private sector can become.
Verizon is looking to put up 5g pole towns in our town and some are fighting it. We do not have fios so there is currently no wifi competition. Idiots
Getting blasted by millimeter wave technology at 28 GHz and 39 GHz. full time sounds like a risk.
“Yes, keep supporting charter schools. Private sector f up, now gets his brother to get him a job.”
Fool, I’m not taking investment advice from someone who can’t distinguish that entrenched political hacks sucking the teet of a private initiative and returning to the feed at the public sector trough when the milk runs dry is a public, not private, sector issue. Not to mention taking advice from a 40 year old man who ‘invests’ in penny stocks…
I’ve asked several times…any company that would employ you in any analytical role is certain to blow up.
You really want to help me out with short ideas…give me your employer’s name. Dead on certain to decline if you are representative of the workforce.
leftwing,
(S)he is not in the investment industry. (S)he is a retired person posting under different aliases using satire to bait you all into a response.
Spot on analysis leftwing. Was it on Monday that he advised me to switch jobs at 48 after working 21 years at current employer with a cancer kid in tow?
Finally the truth can be told.
Here is what happened to clot:
https://nypost.com/2019/07/11/i-left-the-priesthood-to-become-a-woman/
What is it with you? How hard headed are you? Why can’t you see there is no difference between the private and public sector, they are one in the same. They are all driven by human nature. Our fore fathers tried their damn best to check and balance human nature, but you can only be successful to a point.
For god’s sake, look at what happens to a corporation as it is born, grows, and then dies. It eventually becomes infected with corrupt components every single time. Sometimes the corporation overcomes it, and lives to see another day. Most of the time it takes it down.
If the supreme shining model of the private sector (its corporations) are cesspools of corruption, why do you ignore this and sell yourself the lie that the govt is the only corrupt entity, and not US. That only politicians and govt workers are the problem is a sick picture you have painted for yourself. That the private sector can somehow do it better than the public sector is mind blowing based on the idea that both are driven by the same human nature.
Face reality, and accept that society will always be tainted by corruption. The source of corruption is not the govt, it is YOU AND I.
Corrupt people will always rise to the top of leadership positions. They cheat for god sake. It’s impossible to stop, and can only be contained through checks and balances that must constantly be amended to reflect their new found means at corruption.
“Fool, I’m not taking investment advice from someone who can’t distinguish that entrenched political hacks sucking the teet of a private initiative and returning to the feed at the public sector trough when the milk runs dry is a public, not private, sector issue.”
Lib, I’m serious, sometimes the only way to get a raise is to switch companies. Unfortunately, they have you by the balls and they know it. You know the answer here if you are not happy, but sometimes you have to take risk and jump. You are a smart guy that is not afraid to learn or work hard, don’t be scared to jump. If you lose, you lose, but at least you tried.
Libturd, seen crazy things done with ping pong balls. says:
July 11, 2019 at 1:26 pm
Spot on analysis leftwing. Was it on Monday that he advised me to switch jobs at 48 after working 21 years at current employer with a cancer kid in tow?
Lefty,
Theranos and Enron. Two totally different industries and despite all the regulation, still got away with it. Best one, how bout the legend himself. Madoff… great example of how the private and public sector are one in the same. This guy was on a mission to become head regulator for the sec so he could hide his own tracks. Human nature is a b!tch.
How much money did you lose on theranos dipshit?
This is why people should be teaching their kids to obsess over doing the right thing. That’s the greatest answer to corruption, teach your kids right from wrong and why they should do the right thing. Instead you have people being taught some negative…
Obsess over money as opposed to being a good individual. A rich individual is placed on a higher pedestal than the good individual, and you wonder why our society is so corrupt. You dream that the private sector can fix this. Enjoy your fantasy..
Blue Ribbon Teacher says:
July 11, 2019 at 2:04 pm
How much money did you lose on theranos dipshit?
Healthcare now is like the mob in NYC 70 years ago. At that time it was the Gambino, Genovese, Luchesse,etc. Now is Cigna, Aetna, United , Amthem, Humana,etc. So either we go back pre-1984 changes that only non-profit and mutual could do health insurance or Medicare For All (M4A)
Everybody realizes that if the New Orleans circuit overrules the ACA and the
Supremes agree, than it becomes a binary choice only. Meaning no more half way attempts at some government subsidize private profit guarantee market. It means nothing or M4A.
Also, you can expect massive closing of for-profit hospitals in NJ. There are now a bunch. St.Mary’s in Passaic, Hudson Regional (formerly Meadowlands), the CarePoint Hospitals in Jersey City, Bayonne, Hoboken. Of course expect tax increases as the State of NJ would have to rebuild the uninsured trust fund, Christie transferred that money away when ACA became law.
All of this, makes me believe it will be horrible for Republicans, as they won the battle, but lose the war. Notice I said Republicans, not Trump. Trump is going to see and act on his salvation in M4A. The Democratic machine is sold out to big health, pharma so apart from Sanders and Warren, they really don’t one M4A. However, the dems are going to shame Trump/Republicans on the take down of ACA. Trump will call their bluff and move hard and fast with liberal democrats and any one that joins him on a M4A.
Oh yeah….tell that to the whistleblower that nobody in the company wanted to believe because it was run by a young woman
Horizon is a job profit and they are evil
*non*
I bet Pumps prefers the Bigroom Extended mix
https://www.youtube.com/watch?v=3rhaGfukmiI
Of course Essex prefers the DJ Selecta Tanzfläcken Rework
https://www.youtube.com/watch?v=ufFzUrmrbK0
Speaking of SMD, SMMFD -Free Slurpees today!
https://www.foxbusiness.com/retail/7-eleven-free-slurpee-day-how-to-get-a-free-slurpee
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She is destroying the Democratic Party.
Have to laugh at democrats getting a taste of their own medicine. How many times have you used the race card on Republicans? Now it’s happening to you..
“Rep. Alexandria Ocasio-Cortez (D., N.Y.) told the Washington Post that she felt Mrs. Pelosi was persis-tently singling out “newly elected women of color” and the speaker’s comments were disrespectful. The remarks drew fire on Thursday from fellow members of color in the caucus.
“What a weak argument,” Rep. William Lacy Clay (D., Mo.), who is African-American, said of Ms. Ocasio-Cortez invoking race. “Because you can’t get your way, and because you are getting pushback, you resort to using the race card. Unbelievable.””
5:00 Always stay with the classics:
https://youtu.be/cYqSgWFgGxM
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Free speech was great while we had it. You couldn’t even do this sketch today. (Polyester, flood in Holland, etc.)
https://www.youtube.com/watch?v=Joosc4GVmHk
5:00 Always stay with the classics:
https://youtu.be/cYqSgWFgGxM
God help anyone trying to commute on route 80 today
If work in city and live in NJ best way is Hudson County. Close by + lots of modes into city (bus, train, ferry).
Driving to work in NJ sux.
Today?
This week has been terrible, plenty of back-road driving though Morris county this week.
Anyone here have a recomendeation or experience for a cloud based fax solution that is hippa compliant? Trying to get a pure fax line with Verizon these days was quoted $2k .
I agree with you. Huge mistake on AOC’s part. I was trying to be patient and understand whether I just disagreed with her, or whether she was a petulant rookie millennial with a big mouth, and big sense of entitlement. Now we know.
The Great Pumpkin says:
July 11, 2019 at 11:37 pm
She is destroying the Democratic Party.
Have to laugh at democrats getting a taste of their own medicine. How many times have you used the race card on Republicans? Now it’s happening to you..
“Rep. Alexandria Ocasio-Cortez (D., N.Y.) told the Washington Post that she felt Mrs. Pelosi was persis-tently singling out “newly elected women of color” and the speaker’s comments were disrespectful. The remarks drew fire on Thursday from fellow members of color in the caucus.
“What a weak argument,” Rep. William Lacy Clay (D., Mo.), who is African-American, said of Ms. Ocasio-Cortez invoking race. “Because you can’t get your way, and because you are getting pushback, you resort to using the race card. Unbelievable.””
Thank you NYP
https://nypost.com/cover/covers-for-friday-july-12-2019/
Yeah. Technology is great and all but can’t an iPhone tell you when the road you take for your daily commute has been closed? I just got a alert about 20 mins ago. Very timely.
I still prefer my car to mass transit. I’ll take the occasional gridlock over sitting next to some sweatball on a 90deg day.
Need to park some cash. 1 yr brokered maybe 2%, Marcus 2.5%. Other ideas?
Apparently in the city, big tech companies adding several million square ft. of office space including Amazon. So are they doing now what they planned to do before sans all the incentives or is that not true?
Healthcare has always been a whorefest. Me thinks Mr. Bezos has some big plans, especially in the Pharma space. He has hired dozens of experienced people from the industry and spent a lot of money to buy PillPak. He will be able to deliver meds directly to your home, or in a secure fashion to your local Whole Foods where he can have a remote located pharmacists talk to you about your meds. Or for that matter, a remote located physician, nurse practitioner or a dietician and even an exercise physiologist.
I thought some in this board said AOC would succumb to the K street schmooze. Not yet apparently.
5G – are not the days of physical cable numbered? How long until the big players have 5G networks covering most of the country well, end of 2021? VZW should have big bundling power along with T. How will Comcast, Google, Cablevision et al respond.
Enjoy your weekends.
Google is on track to become a 5G carrier.
“With Ms. Omar and Ms. Ocasio-Cortez especially, it’s all identity politics and the accusing finger—you’re criticizing me because you’re greedy, misogynist, classist. And they always claim victimhood—they receive death threats and are called bigoted things, people are mean to them.
People are mean to everybody.”
OPINION
DECLARATIONS
I Come to Bury Biden, Not to Praise Him
Ocasio-Cortez emerges as a one-woman Committee to Re-Elect the President.
By Peggy Noonan
Three small points we labor mightily to connect:
Joe Biden has me thinking about . . . Julius Caesar. The political class of Rome wanted Caesar gone and successfully dispatched him with 23 wounds. But the conspirators themselves came to unhappy ends—Caesar’s base hated them and chased them out of town! Nobody loves an assassin. The only political survivors were Caesar’s designated heir and the leaders who didn’t join the conspiracy.
That is the predicament of the 23 contenders for the Democratic presidential nomination who are not named Joe Biden. They want the front-runner gone. But they don’t really want to be the one who does him in. Pete Buttigieg doesn’t want you saying he has a lean and hungry look! Amy Klobuchar doesn’t want it said she really is mean. The safe course for them is to let someone else do it, then mourn, with poignant words, the end of an epic 20th-century career.
Kamala Harris got a boost from wielding her switchblade in the debates, but that’s a moment, not a sustainable primary lifestyle, and it left a mark, not a fatal wound.
So how are they thinking? If in time they feel they have to, they’ll do what Caesar’s foes did and all join together and take a stab. But again, that didn’t work out well. So for now they’ll make small feints on Mr. Biden’s statements and record, have their people be as poisonous as possible off the record, and wait for him to stab himself to death. Which in his previous presidential primary races he’s tended to do.
What they’re banking on is self-sabotage and deteriorating cognitive abilities, as Rep. Alexandria Ocasio-Cortez sweetly suggested in an interview with the New Yorker’s David Remnick: “I think there are some folks that are of a certain age where you can kind of question their capacity.”
Donald Trump, she said, is an example. And Joe Biden? “I think . . . his performance on the stage kind of raised some questions with respect to that. But I don’t want to say, just because someone is 79, they can’t or shouldn’t run for president.”
“Just because he’s 79.” Well done, missy.
And so to Speaker Nancy Pelosi’s public fight with Ms. Ocasio-Cortez and the three other members of “The Squad”—Reps. Ilhan Omar, Rashida Tlaib and Ayanna Pressley. I gather many on the left are lauding their cool defiance, but to me they look surprised, flummoxed and resentful.
Shortly after being elected, Ms. Ocasio-Cortez seemed to think she had Mrs. Pelosi under control—she’s the future, after all, and Nancy’s the past and surely knows it. She curled her hand around the speaker’s arm in the famous Rolling Stone cover, as you might with a grandma to whom you enjoy showing particular warmth and who happens to have a big estate and no designated heir. Someone has to inherit it!
What do I suspect The Squad may know now that they didn’t know then? That grandma has been observing them and sees what others see. She doesn’t mind that they’re hot, aggressive and ideological, but they don’t confine their fire to outside the tent. They attack moderates as sellouts, racists, child abusers.
And no one who disagrees with them ever operates in good faith. There is a disrespect there. They’re tough, they’re bringing it, not winging it; but they’re so immersed in ideology that they never give a thought to mercy. With Ms. Omar and Ms. Ocasio-Cortez especially, it’s all identity politics and the accusing finger—you’re criticizing me because you’re greedy, misogynist, classist. And they always claim victimhood—they receive death threats and are called bigoted things, people are mean to them.
People are mean to everybody.
AOC especially is not without skill and talent. She is energetic, determined, verbally fluid, has a gift for acting, for seeming ingenuous. She weeps when she hears tragic testimony at committee hearings. She feels for everyone. Well, for some people. Not for Mrs. Pelosi. “I think sometimes people think that . . . we have a relationship,” she said, slyly, to Mr. Remnick. “I was assigned to two of some of the busiest committees. . . . Sometimes I wonder if they’re trying to keep me busy.” Oh Einstein, they may be!
The more serious Democratic Party problem with Ms. Ocasio-Cortez and Ms. Omar is not that their great talent seems to be for political manipulation, or that they constantly set fires, portray the universe as consisting of angels and demons, and put people off with their arrogance while exciting them with their ferocity—though all these things are true.
It is that in doing these dramatic things, and amplifying them through their impressive social-media skills, or compulsions, they have fully broken through and made their mark. In their fame and celebrity they altered the face and feel of the party into something that appears more radical, more hissing and accusatory, more hard-left.
Ms. Ocasio-Cortez’s success last June scared fellow Democrats across the country into thinking she is the future, that they must get aboard and get with her program, which many of the party’s presidential nominees have. She has very effectively changed the ideological shape of the Democratic Party with her de facto open-borders policy and other extremisms.
Mature liberals and moderates know this will come back to bite them.
She does this from a completely safe district. She can’t be primaried from the left. She feels a job security no Democratic moderate can feel. Nancy Pelosi said a glass of water could be elected in her district if it were a Democrat, and it’s true.
For all these reasons Ms. Ocasio-Cortez has been destructive to her party’s chances in 2020. She is a one woman Committee to Re-Elect the President.
The way I read it now, Ms. Ocasio-Cortez has been dunked on by a pro and schooled by Big Mama. If she were capable of observing, reflecting and absorbing, as opposed to aggressing, reacting and accusing, she could learn something.
She will not learn a thing. And, a prediction: AOC may look for richer fields back home in rising lefty New York, where mayoral candidates can’t possibly be too progressive and where the revolution will be won!
Here I quickly note what others often tell me: Nancy Pelosi is usually not very clear in public. You listen and walk away uncomprehending. When she takes questions from the press, she is almost never not confusing. Here is a favorite: “I don’t support it, but it’s not, you know—in other words, there is an emergency. There is a burning building. We have to put out the fire. I’m not having to have a conversation about the color of the buckets that the water is in.”
Observers tell me this is not inadequacy but strategy. Publicly she benefits from murk—it gives her a place to hide as she plans her next move. (Eisenhower was like this: He enjoyed vagueness; it maintained his freedom.)
But in private, Mrs. Pelosi couldn’t be clearer. To her caucus’s progressives at the closed-door meeting Wednesday morning: “Some of you are here to make a beautiful pâté, but we’re making sausage.” “You got a complaint? You come and talk to me about it. But do not tweet about our members and expect us to think that that is just OK.” On attacks on moderates: “Think twice. Actually, don’t think twice. Think once.”
Really, this is a clever woman.
“he can have a remote located pharmacists talk to you about your meds.”
Pill-oton?
can anyone offer technical help with CGC?
Libturd, seen crazy things done with ping pong balls. says:
July 12, 2019 at 11:52 am
“he can have a remote located pharmacists talk to you about your meds.”
Pill-oton?
Huge advances in pharma distribution in the last 41 years…..
https://youtu.be/YGv6uo89yMY?t=211
5G is allot of hype so far. What is needed for, what exactly? I have 1 Gbps fiber in my home already tested to 980MBs up and down with a CAT 6 cable and for WIFI 200 Mbps + (measured speed) in my home using 802.11ac. Much faster than I can really use. This can and will be upgraded as the fiber can be made much much faster.
Am I going to be using no cable/fiber at all to my home? 5G (at least Verizon) today runs on a mix of millimeter wave 24 GHz and above, the range is only a few hundred meters nowhere near the range of 4G. To make it work, to cord cut completely (at least in the burbs) you would need a tower every 1/5 th of a mile for coverage. Those towers would still use the same fiber running to my home.
Where is the value here? Streaming movies while I drive?
As a someone with a background in DSP, Computer and Electrical engineering the advances you are seeing in 5G will trickle to coax based connections. Physical wires/fibre will always be more reliable than wireless no matter how much it improves. You will not see further investment in wires and fibre for last mile ever again as wireless tech becomes sufficiently reliable and able to provide bandwidth in excess of the needs of places where no existing infrastructure exists.
Expect more competition and for a lot of price pressure in the space as a result. Comcast is really going to be hurt by this. My family members who live in places not covered by FIOS pay way more for way less regardless of the carrier chosen as competition between the providers forces them to be more aggressive with discounting. I pay half for my FIOS service what my sister pays Comcast for the same level of service.
Comcast, Spectrum, et al who own the last mile to many homes in America are about to get a taste of margin compression, especially if T-Mobile-Sprint merger goes through as they are very aggressive and will deliver service at almost no profit if it means winning customers from a competitor. Capitalism is a b*tch, I think VZ continues to do well as they have a wide variety of assets(fibre, spectrum, wire) that gives them position as a big backbone. The increase in available last mile backbone makes the fibre even more valuable as it has tremendous data carrying capacity with unmatched reliability.
So are it’s days numbered, no those with an investment in that bandwidth will continue to develop and leverage. Is the effective monopoly going to be broken….yes.
Juice, Verizon is not laying anymore fiber. So for people without fiber it gives them another option over cable.
It’s needed for precision planting in farmland.
Trick – Verizon has been at the fiber to the curb since my days working there in the 1990s. They still only have internet coverage in 6 million homes? Google is still in the fiber business too. The cable monopoly getting broken up by 5G? I still see towers every few hundred yards to make that happen.
Musk’s Starlink satellites might be a better option.
I’m all for more options, currently streaming Playstion vue but will have to switch to fubo or directv now once hockey season starts.
D-FENS – A large scale investment for rural fiber? Fiber is the backbone for 5G without it there will be no rural 5G. Buying or hiring expensive cable blowing machines and their operators for use on a small scale to run fiber in the countryside is simply beyond budget for anyone farmer or telco except perhaps the US government.
Satellite or bust. Musk needs about seventy falcon launches to get his first phase of 4400 satellite internet up and running over the next 6 years. Each launch costs $100 million plus, so perhaps 7 billion or so assuming all launches go well. Time for another capital raise?
AOC is the typical thin skinned millennial. Becomes almost hysterical about any criticism. Ultimately when she has nothing substantive to respond with she resorts to an identity defense. You are attacking me because I’m a______. It has nothing to do with her being an ignorant fool.
But this is the DNC chickens coming home to roost. They have been cultivating this garbage for decades. Complete loser only qualified to pour drinks and it’s because America is racist.
Does it make sense to break up monopolies like Google when the Chinese are going the opposite direction. Just saying.
Misc Rambling,
Nothing beats Vanguard’s Brokerage Account. Their sweep is the Vanguard Fed Money Market Fund @2.0% wit a checkbook $250 minimum. Once you have it, you can buy their Prime Money Market @ 0.11% higher yield.
About Big Pharma, the issue is not distributing and getting a web doctor/pharmacist to write or fill script. The issue is the price Big Pharma demands for their product, and how they manipulate production to affect prices – example older cancer/heart, more recently insulin and epi-pen.
Live AOC alone. She is no different than Richard Armey. AOC and a large chunk of the liberals will vote for Trump again, if the choice is another corporate Clinton machine baby boomer octogenarian candidate. The tea party pushed the republicans way to the right by primaring candidates that did not fit an ideological test. The dems, are doing the same now, as they need to clean house of the debris left by the Boomers and the Clinton sell out machine.
Frankly if you look at all our problems. 80% were created by Clinton. Ignoring Bin Laden. Giving away the store to the Chinese Communist Party. Losing Russia. Sold out to Wall Street. And overall bringing down the bar so low, that a Trump like moral character got the job of POTUS.
re: 3b- the Chinese are going the opposite direction? More like we are heading towards China’s already authoritarian internet. Google is actually banned there.
Their latest cybersecurity law forces internet providers to identify internet users by their real names so their internet police can go after anyone who posts negative comments about their leadership etc. That person is sometimes sent to a forced labor re-education camp some times just for a tweet.
The only model of the top of my head that I think Amazon could pull off is the Columbia House and BMG Record Club.You Gen Xr’s, might remember. You got 3 records free for 1 cent each, and had to buy a dozen more over a year, usually once a month.
This worked because BMG and Columbia licensed the music/writing and ability to manufacture and sell the records only to their members. If you look at any of the store bought records/cds vs the one from BMG or Columbia, they were different.
So the only way, I see it is. Amazon licenses the Intellectual Property and right to manufacture the drugs. They make it and distribute it to their “members”, be it Prime, or through the Chase/Bershire Hathaway/Amazon partnership entity.
Otherwise is the pure force of government created by a Medicare For All (M4A) and a likely non-profit government chartered entity that would force mandatory prices and take in the manufacture of needed medications, like Sandia Labs does for Nuclear Research, that will break the back of big pharma.
Juice, I think you are viewing 5G through the lens of traditional telco. mmWave isn’t the only part of it and much smaller lower power mmWave cells will be used in any area with sufficient population density, most likely on existing power and telephone poles. I agree it is not even close to a solution for rural america, it almost explicitly is designed for densely populated places, that is the problem it solves. Existing LTE(Upwards of 600 mb) provides so much bandwidth it doesn’t become a problem until you get a lot of users using their devices.
For rural areas mmWave is not at all viable. You also don’t need to run fibre all over rural america as there aren’t enough users to need a fibre backbone. The only way they are getting very high speed internet in Rural America is if the government aggressively pursues it similar to the electrification efforts in the early 20th century. Simply too much effort to cover the distance for too few customer dollars. As for precision farming and even a lot of other applications existing 3G and 4G technology provide plenty of bandwidth to cover.
Likely the re-purposing of 3G and 4G equipment from more highly populated places will be the biggest benefit to rural america from the 5G roll out. Satellite is another high cost for limited customers play, which makes it relatively unlikely unless again the government gets behind it. You have to figure almost any option they try is likely to cost between 8-20 Billion in infrastructure up front, much more if they want to bring fiber far out into the hinterlands plus the on-going cost to run, it is simply not a risk private entities will take on.
American Chesnut Tree revival via GMOs
https://psmag.com/ideas/most-controversial-tree-in-the-world-gmo-genetic-engineering?utm_source=pocket-newtab
“Me thinks Mr. Bezos has some big plans, especially in the Pharma space. He has hired dozens of experienced people from the industry and spent a lot of money to buy PillPak.”
“So the only way, I see it is. Amazon licenses the Intellectual Property and right to manufacture the drugs. They make it and distribute it to their “members”, be it Prime, or through the Chase/Bershire Hathaway/Amazon partnership entity.”
Sounds like the generic Px manufacturer with best of breed production, sh1tty distribution, and most limited current portfolio is in play…..
Don’t profess to be a technician, use certain signposts to try to enter/exit at more rather than less opportune times…Anyway CGC, pretty ugly chart….
Med and short term price is below and failing at EMA20. Fell out of bed the last two days , 50 is going to cross the 200 (death cross) never good. It is in wildly oversold territory (RSI) but I put less faith in that measure as stocks can move back into normal ranges without rising and I’ve found RSI to work as an indicator (direct or counter) highly specific to certain stocks, not generally. Having said that, an eyeball glance seems to indicate on the daily that there is a bounce (4/4?) off a 30 RSI, currently 26. IDK Chi, I rarely if ever try to grab a falling knife on the first few heavy red bars. What’s making you at pot stocks anyway?
Juice I meant that China actually encourages huge state/corporate business enterprises how do we compete if we want to break up monopolies like Amazon, Google, etc? You
I remember Columbia House. The frat houses used to sign up for it and then all they wouldn’t be able to pin the membership to the kids after he moved out.
Once these companies become big enough, they become so inefficient that they would be better off with small companies. Right now, everything google buys out, they seem to find a way to make it shittier. I’ve completely abandoned their search engine for Duck Duck Go.
Idiot! Everyone knows the cops hang out on the median at mile post 116 on the GSP.
https://nypost.com/2019/07/12/dwight-gooden-arrested-for-cocaine-possession-in-new-jersey/
I have to be able to support a client’s expectations if they ask. I view that one as the best potential for a legitimate investable business. STZ already shot the Co-CEO right in his dubage, so it is only a matter of time until they completely take over the Board. Still, it is a trading vehicle right now, hence, looking at technicals only.
leftwing says:
July 12, 2019 at 3:59 pm
What’s making you at pot stocks anyway?
^^^Gooden…
Sad waste of talent to addiction. I remember walking out of PA in the late eighties when there was a 20+ story profile of him in full windup painted on the side of a building facing south on 8th Ave…..
Serious talent, all out the window and at least one life thrown in the bin….
Also, on that tech question, forgot to mention that if you blow your chart out to a two year daily there is zero support for this stock from the current 34 until 25. That’s a lot of black space begging to be filled….Short interest seems to have picked this month with about a third of volume each day….
Having said all that (generally bearish), don’t need to tell you this pig trades on emotion in a wildly volatile sector.
Re: STZ and CGC, I would view the investment last year not in a positive light for share price movement relative to a takeover.
STZ paid USD equivalent of about $37 per share, which itself was a 38% premium, for a 38% interest.
I’d argue that caps a takeover premium, not enhances it.
No other bidder for CGC exists now…who is going to co-invest another minority stake or attempt a full takeover with STZ in there at that level (no one). There is only one buyer in town now for CGC. Not a price enhancing situation.
I understand why they did a minority investment and left the public shares outstanding, it’s a high value public currency. But as it relates to buying in the balance of the shares – your client’s shares – there is only one bidder (STZ) and why would they? And at what price?
They’ve effected a takeover already, booting the CEO and CFO, and installing their own corporate guys. As grandma used to say, why buy the cow if you can get the milk for free.
From a share price perspective STZ effectively already established the takeover premium – 38% – and there shouldn’t be any control premium since de facto they already have control. Until and unless CGC operations advance appreciably beyond where they were at the investment – and they’ve deteriorated – I would view the $38 purchase price for their investment as resistance, not support. I would view $25, where the stock was pre-investnment, as the floor.
Wish I paid more attention to this one, seems the market was looking over the last year for some support at that level. I may peek at it harder and see if it’s worth a short now that it’s busted through again, with emphasis.
Remember, you are more credentialed than I in these matters and I’m just some hockey fan on an anonymous forum.
Good luck.
Libturd,
Did I miss the article when Murphy reinstated the fee?
Christie announces end of online fees for N.J. driver’s licenses
https://www.nj.com/politics/2016/08/christie_announces_the_end_of_online_fees_for_driv.html
I was thinking exactly the same thing…… mid 20’s….. it held 39-42 for a VERY long time…. make sense given your comment….
Did you see this?
https://www.cnbc.com/video/2019/07/12/illegal-cannabis-dispensaries-marijuana-weed-investigation.html
“The ideology of the gold standard was laissez-faire; that of the Ph.D. standard (let’s call it) is statism. Gold-standard central bankers bought few, if any, government securities. Today’s central bankers stuff their balance sheets with them.
In the gold-standard era, the stockholders of a commercial bank were responsible for the solvency of the institution in which they held a fractional interest. The Ph.D. standard brought the age of the government bailout and too big to fail.
While gold-standard central bankers set short-term interest rates, they did not seek to control longer-term rates, much less drive them to zero. In today’s monetary regime, some $13 trillion of debt securities world-wide are priced to deliver a yield of less than zero. There’s been nothing like it in 4,000 years of recorded interest-rate history.
And if gold could once be brushed aside as an anachronistic form of money, that time is no more, with private companies competing to bring digital gold to the blockchain.
In 1989, Ms. Shelton published “The Coming Soviet Crash,” a brilliant and courageous analysis of the weakness of an overrated collectivist economy. She could be just the woman to remind the Fed’s doctors of economics how monetary capitalism works.”
https://www.wsj.com/articles/the-fed-could-use-a-golden-rule-11562885485
Atlanta..
“At the high end, it looks like one of the most successful American cities, like a San Francisco or a New York or a Washington,” Alan Berube, senior fellow and director of the Brookings Institution’s Metropolitan Policy Program, told Bloomberg. “But at its low end, one of America’s poor cities.”
https://apple.news/AWBuHEdprTvK3WDtC9Ss68g