No housing crisis yet…

From MarketWatch:

Existing-home sales rebound 1.9% in October as low mortgage rates continue to provide a lift

Sales of previously-owned homes rose 1.9% in October — the latest housing statistic to demonstrate the upward lift low mortgage rates have provided to the U.S. real-estate market.

Existing-home sales occurred at a 5.46 million seasonally-adjusted annual pace in October, up from a 5.38 million rate in September, the National Association of Realtors said Thursday. On a year-over-year basis, overall sales were up 4.6%.

Economists polled by MarketWatch had expected the average annual rate of existing-home sales to increase slightly more to 5.47 million.

The median sales price ticked up 6.2% over the past year to $270,900, as prices increased across all parts of the country. Unsold inventory was at a 3.9-month supply, down from 4.1 months in September and 4.3 months a year ago. Nearly half (46%) of homes sold in October were on the market for less than a month.

Sales volume varied from region to region, the National Association of Realtors reported. Sales rose in the Midwest and the South, but fell in the more expensive regions of the Northeast and the West.

This entry was posted in Demographics, Economics, Housing Recovery, National Real Estate. Bookmark the permalink.

77 Responses to No housing crisis yet…

  1. dentss dunnigan says:

    First ….

  2. grim says:

    Nj economic crisis, another matter though.

    GDP Report: New Jersey’s Economy in a word – Dismal

    he Commerce Department’s Bureau of Economic Analysis (BEA) today announced that New Jersey’s Gross Domestic Product (GDP)—a measure of the aggregate output of all goods and services produced within the state—grew at a meager 0.7% annual rate in the second quarter of 2019. New Jersey’s growth ranked a dismal 48th across the 50 states; only Maine and Hawaii were lower. In the region, New Jersey trailed New York (1.7%), Pennsylvania (1.7%) and Delaware (1.8%) whose economies grew at more than double the rate of New Jersey’s. The only nearby state with second quarter growth in the vicinity of ours was Connecticut, which grew at a 1.0% annual rate.

    The second quarter performance sustains a weak trend. Over the last 4 quarters, the state’s economy, by this measure, grew only 1.3%, ranking us 37th (if DC was included in the ranks of states, we would drop by one place, putting us 49th for the second quarter growth rate and 38th over the four quarters). In this instance, though, some other states close to us were also low—we edged out Delaware and Maryland, and New York, at 1.7%, was only modestly higher (the Mideast regional average was also 1.7%. To round out the area, DC was up 1.9% and Pennsylvania grew 2.1%).

    State GDP is computed by aggregating estimates of the output of the major industrial sectors. Looking at the second quarter, New Jersey was deficient in almost all of them. For one, mining and oil and gas production, it’s not at all surprising that we badly trailed the nation—Pennsylvania has recently strengthened with the rebound in that sector, but it’s not something that would benefit us or other states in the region. We did trail in sectors that would normally be seen as our strengths, notably wholesale trade and, to a more modest extent, transportation and warehousing. We also lagged in information and finance– skill- and education- intensive areas, which might also be seen as our strengths. On the plus side, though, we did better than the nation in a number of areas normally associated with New Jersey; Professional services, corporate management, and administrative support.

  3. Yo! says:

    What New Jersey needs is a state bank, ideally run by Vincent Prieto.

  4. grim says:

    I always make the same argument here.

    States like NJ, NY, CT, CA, etc – these are states that already have a very high GDP on a per capita basis.

    If you look at the top 10 – it’s the high-income states mixed with low-population states that have heavy natural resource impacts (oil) – like Alaska, Wyoming, and North Dakota.

    On a dollar basis – NJ’s overall GDP increased by $20 billion dollars between Q2 2018 and Q2 2019.

    Wyoming’s amazing 4.2% YOY increase – translated to dollars, is about $1 billion dollars over the same period.

    So NJ beat it on a per dollar basis by 20x, yet you’d never realize the magnitude of the impact. The high income states are starting from a staggeringly high basis compared.

    Pennsylvania did $29 billion YOY. NY did $59 billion.

    Our Tri-State Area – up $108 billion year over year.

    This is basically the equivalent of growing the ENTIRE F*CKING ECONOMY OF MISSISSIPPI … IN ONE YEAR.

    So saying MS’s 2.3 beat out NJ’s 1.3 – that’s a little bit silly.

  5. Bystander says:

    It is more likely to be run by Frank Vincent.

  6. grim says:

    NJ democrats need a better place to stash their wealthy allies.

    Appointments at plebeian divisions like housing, education and transportation are beneath them, they need to be placed into no show positions with prestigious finance and banking titles.

    Goldman Sachs billionaires aren’t going to be happy with chairing the board of public utilities… I mean, c’mon, get real now.

    Also create tremendous opportunities for high-paying nepotism positions, I mean, a $150,000 no-show salary is HARD to defend these days, but make them a SVP at the minority owned small business lending division, and that’s good for $200-300k – who would be so idiotic as to attack minority small business lending?

  7. Nomad says:

    If you want to get into the weeds a bit, this link breaks it down on state level by % and $ changes. Texas quickly becoming the 500 lb Gorilla. Wonder what the trends and $ looks like when economy starts to cool.

  8. grim says:

    Oil & Gas, and Utilities, makes up 50% of Texas GDP growth.

    Don’t get me wrong, that’s great, I’d rather see it growing in the US at the expense of the Middle East declining.

    But what’s sustainable there? I’m not trying to channel Greta here, but the shift of electric and sustainable energy is going to impact Texas.

    Start drilling in the NJ shallows, there is something like 3 billion barrels there.

  9. chicagofinance says:

    There are very few new posters here over time. Figure it out…..

    3b says:
    November 22, 2019 at 9:25 pm
    Where did all these new people come from all of a sudden?

  10. chicagofinance says:

    OK Boomer, Who’s Going to Buy Your 21 Million Homes?
    Baby boomers are getting ready to sell one quarter of America’s homes over the next two decades. The problem is many of these properties are in places where younger people no longer want to live.
    By Laura Kusisto
    Nov. 23, 2019 12:00 am ET

  11. 3b says:

    Chgo just seems to be a good few new ones over the last month or so. I don’t post that much any more so I might be mistaken. But could be one or two regular posters in disguise. Anyhow it got really ugly in here the last few days.

  12. 3b says:

    Seeing quite a few recent college grads going into civil
    Service positions lately. They are talking about good pensions and health plans and some with 403 plans. As well as generous time off and work from home plans. Just an observation.

  13. Fast Eddie says:

    Anyhow it got really ugly in here the last few days.

    That’s because liberals can’t understand why some choose logic and resilience over kool aid and crayons.

  14. Nomad says:


    Seems like they can’t build office space fast enough in Dallas. Toyota moving there big win. Plenty of land, lower housing costs & salaries seems to be the appeal.

    Transition to electric cars; what will create most of the electricity for those cars: Solar, NG electric plants?

    Aging electric grid – cost to upgrade and harden against acts of terror? What about Bloom Energy fuel cells (one per home) replacing grid. Gas lines underground, much easier to keep safe / harden. Less complex to maintain, no? If true, NG industry can continue to drive Dallas. Another thought, fuel cell cars – issue is how to fuel up at home – residential NG is low pressure since high pressure too dangerous in residential area but HP needed to fill up NG car. If push to do electricity via fuel cells, won’t NG auto industry try to piggy back off that infrastructure some how?

  15. Saturday WackdaBoomers says:


    I believe your logic and resilience that you represent just posted right after you. I mean he could not even get his name out right – Williamferia.

    Is Williamferia one of Guliani’s partners in his post prostate surgery adventures in how to influence people and things?

    He is definitely a boomer in late stage raging lunatic disease. Ready to be a guaranteed success in Trump’s cabinet.

  16. Fast Eddie says:

    I mean he could not even get his name out right

    Can you repeat this statement in English?

  17. Saturday WackdaBoomers says:

    I do one better. I’ll re-write it in Trump English in parentheses, you’ll understand.

    I (The Trumps) mean (me) he (myself) could (& I)not (are)even(big) get(fat) his(shameless) name (boomer) out (horse) right (turds).

  18. The Great Pumpkin says:

    Amen!! Someone gets it.

    “This is basically the equivalent of growing the ENTIRE F*CKING ECONOMY OF MISSISSIPPI … IN ONE YEAR.

    So saying MS’s 2.3 beat out NJ’s 1.3 – that’s a little bit silly.”

  19. The Great Pumpkin says:

    Bingo… they act like their economy is better than the rest of a nation and not reliant on energy sector. Slap them in the face and tell them to wake up, you are a product of the energy boom in the last 10 years. When that ends, good luck in Texas.

    grim says:
    November 23, 2019 at 9:53 am
    Oil & Gas, and Utilities, makes up 50% of Texas GDP growth.

  20. The Great Pumpkin says:

    Paying truck drivers 150k is not sustainable and has a lot to do with current economy in Texas. If anyone can’t see this, you are blind.

  21. PatrioticHillbilly says:

    Wow, nj fake news wrote a story based on actual reality. Shocking. With trump on the ticket, van drew and Kim are gone.

    What a conundrum for the dnc. Continue the impeachment hoax with almost no likelihood of success, which is strengthening trump in swing districts, or let the chips fall where they may and face a potential trump re election and loss of house seats.

  22. The Great Pumpkin says:


    Democrats are getting what they deserve. Price to pay for abandoning your morals and principles you once believed in and stood for.

    Democrats have come along way from, “Ask not what your country can do for you, but what you can do for you country.” This is how America great again. Get the people to believe in themselves so they can take the risks and develop the skills needed to make America great again.

    Right now, the message is…you are weak, so we will help you. Just destroying their own people with this message masked in blind compassion.

  23. Ok snowflake says:


    You think paying teachers 100k a year regardless of their performance is sustainable?

  24. Sunday RatesBeGone says:

    When you add this,

    Plus this,

    It means that if any pension fund or insurance company wants returns they will have to go old school, really old school and do things like before the bond market got developed.

    I expect a lot more of Met Life – StuyTown like developments in the future. A lot of Real Estate is about to be built over the next 10 yrs because of this.

  25. Sunday RatesBeGone says:

    I forgot to say,

    Add the destruction of the government and corporate bond market (to save their cokehead wall street buddies) to the great accomplishment of the boomer locust generation.

  26. Libturd, the Master Beta says:

    “which is strengthening trump in swing districts,”

    Another fabricated story that Trump continues to repeat over and over that only a Trumpster would buy. This here is the fake news!

    I am even more sure Trump is going to get crushed regardless of the polls. Best of all, I would presume Bloomberg will take enough votes from Biden to vault Warren/Sanders to the forefront.

    In the end, Trump will be responsible for taking the entire country far left because people will do everything in there power to make sure the moron doesn’t get another term. Where is Trump getting his new voters from? I know tons of people who were unenthralled with HRC and didn’t vote. That’s not gonna happen this time.

    Prepare for a progressive president people!

    Soc1alism – Brought to you by Trump

  27. PatrioticHillbilly says:

    Not me saying it TDS turd, it’s democrat pollsters. After three years of endless hoaxes, and complete abandonment of legislating, people are sick of it.

  28. Flyover says:

    Getting really hard to take libturds TDS flareups guys. This is the same guy that for 12-18 months after the 2016 said the dems didn’t learn anything from their humliating general election loss and were going to get destroyed in 2020 if they kept up with their extreme left wing views and doubled down on stupid. Well they’ve been worse than anyone could have expected and yet now he’s changed and said trump will lose.
    Its sad guys, i bet turd isnt even getting along with relatives anymore.the tds is like mad cow disease, rots the brain.

  29. Libturd says:

    Think what you may. I made my earlier prediction based on having no clue what an assh0le the POTUS is. Likewise, Warren and Bernie are more about the economy and rarely if ever harp on the identity sh1t. It is why they are doing so well. They are also not PAC accepting. So continue to make up sh1t and call me names. I’m cool with it because I know you are full of sh1t and just following the techniques your master has taught you.

    Remember when college and healthcare are free. Trump caused this!

  30. Libturd says:

    That article was a complete waste of time. I give it a triple no duh rating. And pointing out that just flipped house candidates in traditionally Republican districts were R greatest risk of losing? Now that’s a brilliant observation. In other news, both the DNC and the GOP have secret donor PACs. More mind blowing reporting. I think I’m right about tii no one who didn’t vote last time due to the terrible campaign that HRC ran will all be running out to vote like never before. I also feel that there are many sensible Republicans that are fed up with Trump’s name calling and other playground antics. And I love that you are calling me out on my flip/flop. It only servers to show that you are bothered by the reality that I am presenting.

    At the end of the day, I’d still have a drink with any of you. It’s healthful debate and I’m not sure why some like Leftwing are so troubled by it. It’s all good fun. Except for the infantile name calling, which I tend to stay away from.

  31. ExEssex says:

    Jan-Pieter Jansen, a 77-year-old retiree from the Netherlands, had high hopes for a worry-free retirement after having saved diligently into a pension during his working life.

    But Jansen, a former manager in the metal industry, has been forced to reappraise his plans after receiving notice from his retirement scheme, one of the Netherlands’ biggest industry-sector funds, of plans to cut his pension by up to 10%. Understandably, the news has hit like a sledgehammer.

    “This is causing me a lot of stress,” says Jansen, who retired 17 years ago and hoped to use his pension pot to treat his grandchildren and afford good hotels on holidays. “The cuts to my pension will mean thousands of euros less that I can spend on the family and the holidays we like. I’m very angry that this is happening after I saved for so long.”

    Jansen is not alone in experiencing pension pain. Tens of millions more pensioners and savers around the world are facing the same retirement insecurity, as plunging interest rates since the financial crisis wreak havoc on the funding of schemes. As average life expectancy increases, pensions have become a defining political issue in countries as diverse as Russia, Japan and Brazil.

    General Electric, the industrial conglomerate, recently announced that it is joining a growing list of companies that are ending guaranteed “final salary”-style pension schemes, affecting about 20,000 of its employees. In the U.K., tens of thousands of university academics are preparing to take strike action over steep rises in their pension contributions.

    A common factor in this global pension upheaval has been suppressed bond yields.

    Bonds have historically provided a simple match for the cash flows needed to be paid out to the members of retirement schemes. But decades of declining bond yields have made it far harder for pension funds to buy an income for their members, pushing them more into equities and other riskier, untraded investments, such as real estate and private equity.

  32. Mondays RateBeGone says:


    What it means is a lot less bond market trading and doing actual creative work finding long term return. This is what old school means, click on pictures of properties

  33. Blue Ribbon Teacher says:

    Maybe Jan’s grandkids can pay for the vacation since they have such a massive social safety net. I’d be so friggin happy if all I got was a 10% cut in the pension I’m due. I’m planning ahead…my best estimate is…I get 50% of what’s promised. I’m not even sure on that one.

    Meanwhile, most people in the public sector are just praying the inevitable doesn’t happen.

  34. Mondays RateBeGone says:

    Blue Ribbon, you got to have high hopes.

    Nature, the universe, whatever has a way of working out. The following is a light thought/game theory process.

    -Sanders/Warren win, the plutocrats get their comeuppance and a new social contract/safety net is written into history.

    -A corporate democrat wins. Is Obama 2.o for 4 years, than we get a smarter, more discipline, meaner, Trump clone (the real danger), but on the good side, Medicare, Medicaid, and Social Security would be gone. With the missing social safety net – a massive boomer die off happens bringing total cost down. By 2028-2032 a new progressive Sanders/Warren like gets in and rebuilds social safety net (way less costly because of massive boomer die off)

  35. Blue Ribbon Teacher says:

    Bloomberg is probably just running so he doesn’t get taxed to death.

  36. PatrioticHillbilly says:

    Like it or not, the fake news sounding the alarm is significant. Fake news wapo said the same yesterday, the impeachment hoax is strengthening trump among independents.

  37. Blue Ribbon Teacher says:

    Outside of the people that wanted impeachment on day 1 of his term, I haven’t heard any noise from anyone on impeachment. It’s as if it’s not even happening right now. No one cares….no one even talks about it.

  38. Mondays RateBeGone says:

    Blue Ribbon, because the average person is tied down with surviving and prospering in their life. That is the edge of warren and Sanders.

    If you look at who is who of the impeachment, is the who is who of corporate democrats. They are trying to legally tar, feather and shame (Trump truly deserves it) a shameless, used car salesman that stole his elderly mom’s money.

    The issue is that the corporate/clinton sell out democrats are not in any better position morally or intellectually. Is like the Boy Scouts making a fuss about the Catholic Church’s sex abuse issues.

  39. Juice Box says:

    Lots of upset Dems on talk radio this morning upset about Bloomberg’s 30 million dollar Ad buy ( 1 week only) in Iowa and other states. Kamala can’t afford it (for her own ads), Sanders is disgusted. They state the Republican nomination is for sale not the Democratic nomination Bla Bla Bla.

    Short memories. For those keeping score, Hillary spent 700 million in 2016 and Trump spent 400 million. It’s going to be a 2 Billion dollar+ election this time when all is said and done.

  40. Fast Eddie says:

    Can anyone point me to a link that outlines Bloomberg’s campaign points? I truly want to know his agenda and political beliefs. If he backs corporate tax breaks, less regulations and is investment friendly, I wouldn’t mind if he gets elected.

  41. Mike S says:

    I am planning for 0% social security.
    I would also vote for trump if its against sanders or warren. That is one time to do a lesser of two evils vote… I normally vote libertarian

  42. No One says:

    Bloomberg will be for a moderate more technocratic version of the Democratic platform. Not tax breaks or less regulation. At best, some might hope that he can make the welfare state modestly less dysfunctional – the liberal dream of making the US more like Denmark. He was willing to upset some people to allegedly make NYC govt schools a little better. He’s now apologizing for allowing the police to prevent crime more effectively than DiBlasio does. But he also likes to ban or tax things he doesn’t like, such as soda, environmental stuff, etc.
    I’d be surprised if he can win in the primaries – male, pale and stale isn’t what the dem activists crave.

  43. Bystander says:

    Schiano should be put on a wall with top NJ gansters. Seriously..this guy demanded 102m stadium expansion, left and program is back in dark ages. Someone woke up at Butgers , which is suprising.

    “The list of demands included a $4 million-a-year salary over eight years, a $25.2 million guarantee on Day 1 of his contract and unlimited use of a private jet. In the end, one source said, it was too high a price to pay for Greg Schiano”

    Who will pay for this? Oh right..ths students via fees and tuition

    “The Ledger analysis shows that Rutgers spent more on sports last year than most of the 120 college programs in the Football Bowl Subdivision, but the school could not keep pace when it came to generating revenue. As a result, 42 cents of every dollar Rutgers spent on athletics last year came from student fees, tuition dollars and other nonathletic revenue, among the highest ratios in the nation, the analysis reveals.

    The athletic department spent $26.8 million more than it generated in revenue last year, a figure that ranks it among the 10 highest operating losses in major programs in the country, the analysis reveals. The loss was covered by $8.44 million in student fees and $18.4 million from the school’s general fund.”

  44. Juice Box says:

    When the Bloomberg came into office in NYC he put in a program to break down all of the silos in NYC using what he knew best data analytics. Everything they did like closing down Times Square traffic and banning smoking in the restaurants was all based on analytics. Even the soda ban via a limit on soft drink size which failed was all based the the analytics around the consumption and calories. He apologizes now for Stop and Frisk, but it saved lives problem was it took 1/2 a million stop and frisks to find 700 illegal guns considered a low success rate for sure and the cops did not frisk enough white people.

    I think Bloomberg may find presidential politics a bit to much to handle, because he is generally calm and soft spoken. I don’t think it will go over well with the left today as they seem to want a firebrand radical.

  45. Fast Eddie says:

    The Chinese government issued new guidance Sunday increasing penalties for intellectual property rights (IPR) violations, in a move that signaled a willingness to cooperate with one of the key demands of U.S. trade negotiators.

    Trump wins again… democrats continue to do nothing for the country.

  46. Libturd, the Master Beta says:

    “democrats continue to do nothing for the country.”

    ACA was certainly helpful.

    But continue the narrative.

    And I’ll believe the Chinese Government crackdown on IPR when I can’t buy fake sports jerseys on Ali Baba.

  47. Libturd, the Master Beta says:

    Trump wins again…

    Why are rates going up much quicker than our salaries?

    Because Trump removed the mandate that required everyone to have insurance. Heck of a solution from such a brilliant mind.

  48. Fast Eddie says:

    ACA was certainly helpful.


    Nobody wanted it. Co-pays have risen, out of network providers are the norm, out of pocket expenses are rampant and deductibles have become mortgages. ACA destroyed the last gasp of health insurance and did exactly as designed. The left and their agenda is nothing but a gaggle of demented, unbalanced, enraged, unhinged and insane lunatics.

  49. ExEssex says:

    12:03 the right seems selfish and ill-informed.

    Stay tuned! For more fun.

  50. Fast Eddie says:

    Because Trump removed the mandate that required everyone to have insurance.

    If the mandate was still in place, the cost would be worse!

  51. ExEssex says:

    A second recently published study provides an answer: There are different strains of authoritarian thinking. And support for Trump is associated with what is arguably the most toxic type: authoritarian aggression.
    The study suggests the bulk of his supporters, at least in the Republican primaries, were not old-fashioned conservatives who preach obedience and respect for authority. Rather, they were people who take a belligerent, combative approach toward people they find threatening.
    The notion that there are different types of authoritarians was proposed in the 1980s by University of Manitoba psychologist Robert Altemeyer, and refined in 2010 by a research team led by John Duckitt of the University of Auckland. In the journal Political Psychology, that team defined right-wing authoritarianism as “a set of three related ideological attitude dimensions.”
    They are:
    “Conventionalism,” a.k.a. “traditionalism,” which is defined as “favoring traditional, old-fashioned social norms, values, and morality.”
    Authoritarian submission,” defined as “favoring uncritical, respectful, obedient, submissive support for existing authorities and institutions.”
    “Authoritarian aggression,” defined as “favoring the use of strict, tough, harsh, punitive, coercive social control.”

  52. Libturd, the Master Beta says:

    “If the mandate was still in place, the cost would be worse!”

    How so?

  53. Blue Ribbon Teacher says:

    Rather, they were people who take a belligerent, combative approach toward people they find threatening.

    Almost everyone who voted for him has had to do so in secret.

  54. joyce says:

    You can’t possibly support “stop and frisk” either the concept or how it was/is applied.

    No One says:
    November 25, 2019 at 10:36 am

    He’s now apologizing for allowing the police to prevent crime more effectively than DiBlasio does.

  55. chicagofinance says:

    Mandatory knödelmatzo soup and borscht for any willing goyim in a swing state.

    Fast Eddie says:
    November 25, 2019 at 10:09 am
    Can anyone point me to a link that outlines Bloomberg’s campaign points? I truly want to know his agenda and political beliefs. If he backs corporate tax breaks, less regulations and is investment friendly, I wouldn’t mind if he gets elected.

  56. chicagofinance says:

    Ask the parents of the 15 year old boy in Chicago shot in the stomach and arm during a piano lesson.

    Snarky entitled troll.

    joyce says:
    November 25, 2019 at 12:30 pm
    You can’t possibly support “stop and frisk” either the concept or how it was/is applied.

    No One says:
    November 25, 2019 at 10:36 am

    He’s now apologizing for allowing the police to prevent crime more effectively than DiBlasio does.

  57. joyce says:

    On Wednesday, First Deputy Supt. Anthony Riccio said the teen, who was a student intern at the music store, was most likely shot by the Des Plaines police officer as he was “neutralizing the offender.”

  58. D-FENS says:

    MORE: Trump warns media “Conan is trained to attack if you open your mouth” warning the press to be careful.

  59. Fast Eddie says:

    “If the mandate was still in place, the cost would be worse!”

    How so?

    Because tax credits are paid directly to insurers but are applied to an individual’s premiums. You have to guess how much money you’re going to make in a given year. Surprise!! You actually may have to refund tax credits to the IRS. Slick! And what about the bare bones notion that if I want to opt out, I can WITHOUT being extorted for thousands $$$ because I make a certain income? And then there’s the gun to the head of an employer who must provide coverage or face more extortion. Solution? Hire fewer people that results in less tax revenue on the federal, state and local level.

  60. No One says:

    I don’t know the details of Bloomberg’s involvement in stop and frisk well enough to say. I don’t support unreasonable search and seizure. On the other hand, if there’s constant complaints about gun/drug crimes in a neighborhood and someone is hanging out on a streetcorner for hours, is that an unreasonable person to search? I read they were getting more than 10% arrests per search, that’s pretty high. Probably higher than the % of drivers getting caught in drunk driving dragnets and way higher than the % of people caught with weapons or explosives going through airports. Of course at airports they slow everyone down to pretend that they are equally worried about all passengers, so nobody complains they are being racist.

  61. ExEssex says:

    I like stop and frisk. There I said it.

  62. Ok snowflake says:


    You like getting frisked by men with handcuffs? Explains a lot about your back door fixation.

  63. D-FENS says:

    Bloomberg knows he can’t win. Now that he is a “candidate” he can spend his own money on ads that help all democratic candidates so that he can skirt campaign finance laws.

  64. JUice Box says:

    re: “I like stop and frisk. There I said it.”

    Accept many times it wasn’t Stop and Frisk, but worse. During Stop and Frisk the NYPD was using allot of unnecessary force includes pushing people to the ground, forcing them against the wall or on a car hood, sometimes pointing guns at them and using pepper spray and batons. This happened in as much as 25% of stops.

    A scanner like at the millimeter wave scanner at airport would be better. Put one at every Subway entrance.

    Like the movie Total Recall.

  65. joyce says:

    No one,
    Yes, everything I read said the same thing that almost 90% of all stops resulted in nothing. When phrased that way (the opposite of more than 10%), it sounds horrible… at least to me. I do not think comparing something to other ineffective, should be unconstitutional policies is the way to go here. I also read that half of the charges from the 10% of arrests were thrown out quickly, so that brings it down to 5%… and ultimately, only 1.14% of stops found weapons or contraband.

    if there’s constant complaints about gun/drug crimes in a neighborhood and someone is hanging out on a streetcorner for hours, is that an unreasonable person to search?

    I think so. If that’s all they have, someone’s mere presence in a high crime neighborhood should not subject them to being stopped. The least they can do is use (what they use more than half the time) the suspect made a ‘furtive movement’ line, which is so vague it can mean almost anything.

    Lastly, there seems to be a correlation to less stops being more effective. I hesitate to give them credit, but if/when they actually develop individualized, reasonable and articulable suspicion of criminal activity… it makes sense that they will improve their average.

    In 2011, 685,724 NYPD stops were recorded.
    605,328 were innocent (88 percent).

    In 2012, 532,911 NYPD stops were recorded.
    473,644 were innocent (89 percent).
    In the first half of 2019, 7,101 stops were recorded.
    4,795 were innocent (68 percent).

  66. Libturd, the Master Beta says:


    Appreciate the answer. I don’t necessarily agree. Nor do I see Trump (or any other R) offering any alternative. I thought a lot of savings would be obtained by getting people out of hospitals and in to doctors offices if they were not insured. Every hospital will help every person regardless of whether or not the patient has insurance. I suppose it’s cheaper for everyone to get a throat culture in the ER than at their physician’s office. Also, lots of people are against there being coverage for preexisting conditions until they get one. Much like being against abortion in the case of rape. I’m sure we’d all love to raise the unwanted offspring of a mentally deranged sex offender. Right?

  67. Libturd, the Master Beta says:

    The problem with Stop & Frisk is that dumb cops can’t be trusted not to profile.

    It’s as simple as that. Essex likes it because he’s a cracker! I worked full time in New York from Gulianni through most of Bloomberg. Never once was I stopped and frisked. Nearly every day, I saw cops frisking brothers (mostly in Times Square).

  68. njtownhomer says:

    Believing Trump is successful in wrestling with CCP is very misleading. While China is buying up ports in Greece, putting railroads across Asia minor, buying mines in Africa, USA should have been working with Europe and non-China Asia to avoid that. But what Trump is making USA more lonely then ever while running his own agenda.

  69. JCer says:

    I’m glad Bloomberg is in, he was a pretty good mayor, he’s intelligent, and frankly I don’t think he’ll destroy the economy. He has joined the race for the key reason that Trump has pretty much knocked Biden out of contention and the only other candidate that isn’t viewed as scary to the wealthy class is Booker who has no chance at this point. Bloomberg isn’t a ideologue, he is a technocrat which means he isn’t going to pursue policies based solely on ideology. Warren is disingenuous at best, her proclamation on taxing the wealthy are bigger lies than anything the orange doofus has come up with.

    If that wealth tax were to become a reality we would be in trouble, the reality is successful private business would effectively be nationalized. She is clueless at best and dishonest at people who build up a 50m or 100m business have a lot of paper wealth that Warren wants to tax, a 1 or 2 million eats into operating capital in a way that is not easily absorbed when operating income is variable and dependent on the economy. How pray tell would the billionaires raise enough to pay their 3% tax bill without crashing their stock price? Warren is a non-starter because she is dishonest, first she was a native american, her relationship to finance huckster Suze Orman is pretty telling and her shakedown of the WS banks with the CFPB(which by the way poor Americans are paying for in banking fees). She is a nightmare, her policies make no sense and commrade Bernie isn’t far behind.

    Hopefully Bloomberg get the nomination, if not and warren or sanders is the candidate I hope he runs as a third party spoiler. He is a good candidate to displace Trump the others I fear will cause a market panic which would be followed by recession. I hate to say it but the oligarchs will punish the electorate for electing Warren or Sanders, make no mistake we got Hillary the first time because she had the Oligarch stamp of approval.

  70. joyce says:

    Also, lots of people are against there being coverage for preexisting conditions until they get one.

    This is because of how private/government interests have corrupted the insurance market for healthcare. You cannot insure against something that has already happened. The cost of healthcare needs to decrease significantly (and countless other laws were changed)… single-payer, ACA and other similar policies do not do a single thing to lower the cost.

  71. Juice Box says:

    re: Wealth tax.

    So lets give it a whirl — So current market value mark to market all those assets above $50m every year and then selling 2% off to pay the tax $4 million year one and so on and so on. Just not possible, the valuation process itself will generate countless lawsuits, and unless you are taking out some kind of loans few are sitting on that much cash. Then try repeating that process every year after year, sounds like a recipe to create a self reinforcing depression. We all get to be poor together!!

  72. JCer says:

    NJtownhomer, I agree Trump has not worked with other nations. I think the tariff and economic withdrawal is smart(that comes from guys like Navarro and Gordon Chang), and it is hurting them. The way to make it work even better would have been a united front the EU, UK, US, Japan, Korea vs. China. Without access to the markets the Chinese economy would be suffering and the EU needs to protect their domestic production as they already have serious problems keeping their populous employed.

    Trump will likely win some concessions(IP protection, opening some markets) take the gains as political capital and within a year or 2 China will be up to their old tricks again.

    Make no mistake China is our enemy and we haven’t faced a country like them since the USSR or the third reich. They have camps for the Uigurs, zero respect for individual rights, etc. Chang is right there cannot be a China as it stands and a US as it stands, they are fundamentally incompatible.

  73. Monday RealityCheck says:

    JCer & Juice Box,

    Both of you are so brainwashed by the boomer bs of the last 30 yrs you are not thinking right.

    First, you are not and will never be a millionaire (outside of house value), let alone a billionaire.
    Second, you are and will likely need Medicare and possibly Medicaid.
    Third, if you are still self identifying with Bloomberg, Gates, Buffet, Kochs, etc, you are certifiable.

    Yes, will all are poorer and will be poorer if you keep identifying with Billionaires, their tax shelter games, finalization of the economy. After all, they will be able to afford a SpaceX trip a future “Elysium” gold plated off world space station. You on the other hand wont.

    Put down the pipes people. At this point you are no different that a prisoner in “The Gulag Archipelago” that was always a good commie, but does not know why he there and think the system is not at fault, as he is there by mistake.

  74. Libturd, the Master Beta says:

    Single-payer, ACA and other similar policies do not do a single thing to lower the cost. Agree. Nor does electing any candidate left or right that takes PAC money for they are not going to bite the hand the feeds them.

    Our government is owned by the ultra-rich! Why do we keep electing them? Oh right, we also go gaga over the Kardashians.

  75. ExEssex says:

    Sadly I Doubt the government could do any type of redistribution that would have any effect upon the vast chasm of income inequality. It’s as if we want to return to feudalism.

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