Will we recover the other half?
From ROI-NJ:
N.J. has recovered half of jobs lost to pandemic
New Jersey employment grew slightly in February, but it was enough for the state to now have recovered more than half of the jobs that were lost by the pandemic.
Preliminary estimates released by the U.S. Bureau of Labor Statistics on Thursday indicate that total nonfarm wage and salary employment in New Jersey increased in February by 10,700, to reach a seasonally adjusted level of nearly 3.88 million. The gains were concentrated in the private sector (12,100) of the state’s economy.
With the totals, New Jersey has now recovered 364,000 jobs, or about 51% of the number lost in March and April 2020 due to the coronavirus pandemic and measures taken in response to it.
Friskies.
Have the jobs recovered come back at the same level or is this like 2008 where the jobs replaced were McJobs, less pay and no benefits so people need a second or third job to stay afloat?
Updated Vaccination by Age Range for NJ:
Morning of 4/3 vs. Afternoon of 4/5 – Pretty solid jump for Easter weekend.
At Least 1 Dose
Total Pop: 8.9m
Total 1st Doses: 3.0m (34% of total pop)
18-29 – 1.4m population – 271k dosed – 19% 1 Dose (Up from 17%)
30-49 – 2.3m population – 753k dosed – 33% 1 Dose (Up from 30%)
50-64 – 1.9m population – 874k dosed – 46% 1 Dose (Up from 43%)
65-79 – 1.1m population – 844k dosed – 77% 1 Dose (Up from 76%)
80+ – 400k population – 301k dosed – 75% 1 Dose (Up from 73%)
Fingers crossed we get to 50% of population w/ first dose by the end of the month. Like I’ve said previously, that appears to be the tipping point for countries like UK and Israel.
Texas only reported 839 new cases today.
16.1% have been fully vaccinated
https://apps.texastribune.org/features/2020/texas-coronavirus-cases-map/
It’s the first time since June we had under 1,000 new cases statewide.
Positivity rate is down to 2%
https://www.wfaa.com/article/news/local/texas-hitting-record-low-numbers-covid-19-cases-hospitalizations-deaths-positivity-rate-statistics-april-2021/287-4723aa91-4172-4361-b90f-958f881dcb0c
Texas only reported 839 new cases today.
And yet they’re not forced to wear their obedience masks like in Michigan, which is going off the rails in new case numbers.
Got my second shot yesterday. There were people of every age group getting the shot.
Fast
Most people are still wearing masks in stores and most restaurants that i’ve been to are are still doing limited seating or takeout only.
I really think about half of Texas has had covid already. 16% are fully vaccinated and over 35% have had at least one dose. I bet over 65-70% of Texas has either had covid or received at least 1 dose of vaccine which is why are numbers are plummeting.
Got my second shot yesterday. There were people of every age group getting the shot.
I’m getting my first tomorrow. No ID required, right?
Fast: Got mine at Holy Name, drivers license required for ID.
3b,
Driver’s license for ID required? Hmmm… rather rac1st and discriminatory. I can vote without ID, not sure why they require ID for the shot.
Went to Six Flags yesterday. Tons of people.
Banking sector is a f-in hot mess in this country. So, we can only hire in India and have 20 open roles there, just in my area. We have numerous candidates declining due low offers by my IB. New strategy? India career day! All employees wanting to transfer depts. now get interviewed all at once on same day. Email comes asking me to be ready this Saturday starting at 7AM to interview all day. My response – go f* yourself. In Swiss and Poland, they are not allowed by law to pull this sh*t so it falls on US to run whole interview panel. USA..USA!
No ID at CVS, but they did ask for the insurance card.
Anyone notice the Traitor Party bullying of corporate America. It begets the question, the whole point of the Traitor party was that it was the main sell out agent for the Corporate State.
Their actions now vis a vis the voters disenfranchisement laws means they are trying to be just like the Chinese Communist Party with Jack Ma or the Turkish dictator Recep or Putin with their attitudes within their countries industries.
In short the Traitor Party has become the official State Corporatism Party vs their previous status as Corporate State sell out.
I think this is the financial death knell for them. The only thing keeping them going was corporate monies. Corporate monies likes to tell people what to do, they are not going to give money away to be “told” what to do.
Only money the Traitor Party will fundraiser is from those trick websites where they keep monthly billing the old angry confused boomers geezers.
Hopefully, Covid will mostly be in the rear mirror in about two months. Especially once the germ spreading 12 -16 year old cohort gets vaccinated.
In our 3rd really large kick in the balls in the last 5 years, we just lost our judgement for the D due to shitty lawyering. Though we proved the school was doing nothing for D’s education and the school we placed him in was working wonders, we essentially lost on a technicality. Our lawyer urged us not to help GR once we let them know we were seeking outside placement and placed D unilaterally. The judge ignored the context of the case and instead focused almost entirely on the defense’s claim that we were not helpful which really wasn’t the case. For the entire first year D spent in the school system, we were outrageously helpful. Our lawyer made it clear that we were not obligated to help the program we were claiming was deficient. It completely back-fired. Nothing like throwing money in the trash after having been told our case was a 99 percenter. One extremely valuable lesson learned. The moment you think your lawyer sucks, you are better off starting over than throwing more bad money after bad money.
We’ll be okay and not looking for sympathy at all. Just stunned.
Quite frankly, once Gator and I convinced my company to cover the D’s learning center as out-of-network medical, the cost of his school has become surmountable and we should have just dropped the case. Just wish we didn’t pay the lawyer and her expert a year’s worth of tuition for absolutely nothing.
Our upcoming IEP meeting is going to be a real party.
Juice: HN required on line registration with insurance information and picture of insurance card. Then on site the license was required.
No ID needed in Essex County.
You just had to promise to vote blue. And we weren’t even blackmailed with bottled water.
Senate majority leader Chuck Schumer claims to be a progressive Democrat and champion of the working class, but he’s pulling every string he can right now to ensure that a tax cut for rich liberals makes it into President Biden’s infrastructure legislation.
Specifically, Schumer is working to include a repeal of the limits the GOP’s 2017 tax-reform package placed on the State and Local Tax Deduction (SALT).
The SALT deduction gives many wealthy people in blue states a discount on their federal taxes. Schumer wants to remove the limit the GOP placed on the deduction in 2017, so that SALT beneficiaries can write off more and save more on their federal taxes.
It’s no coincidence that Schumer represents New York. Local business leaders and wealthy residents of the Empire State are lobbying the senator to restore their favorite tax subsidy in its entirety, and he’s certainly doing his best. Along with his fellow New York senator, Kirsten Gillibrand, he has introduced legislation to repeal the cap on the SALT deduction altogether. And his latest efforts to see repeal included in infrastructure legislation are just the culmination of his protracted campaign to restore the loophole.
According to the Committee for a Responsible Federal Budget, nearly half of the benefits of repealing the SALT cap would go to households earning more than $1 million annually. Just 0.5 percent of the tax relief would go to households making less than $100,000. The liberal-leaning Brookings Institution estimates that eliminating the SALT cap would give members of the top 0.1 percent an average tax cut of nearly $145,000. Meanwhile, members of the middle class would, on average, see a $27 tax cut. Ironically, Brookings also notes that “Lifting the [SALT] cap would in fact give almost three times as much, as a share of the cut, to the top one percent as the [GOP tax] cuts did as a whole.”
Of course, there’s no such thing as a free lunch. Giving wealthy blue-state households a big tax cut means that either other federal taxpayers have to pick up the slack, or we all have to suffer the now-even-graver long-term economic consequences of mounting government debt.
Schumer can continue to push repealing the SALT cap. But he can’t convincingly claim that it’s progressive, fair, or anything but a naked handout for his wealthy constituents.
Oh noooooooes!!! Wut would Twump do….?!??
Eddie,
They are all the same. The only reason SALT was even messed with was because Trump was hellbent on punishing the blue states. Though it helps the rich (who already don’t pay 25% of the taxes they legally owe), it does catch a lot of middle class people as well.
Honestly, Trump’s tax plan was a huge failure. Even before Covid, it fell woefully short of it’s promised revenues over time.
As long as we can both agree that our government sucks. I welcome paying less in taxes than those richer than me and not the other way around.
In Porterville, California, a five-year-old girl who set up a lemonade stand to raise money to buy herself a new bike has been told four months later that she needed a business license to do it.
Her mother received the warning in a citation from city hall which asked her to send back $59, the local fee for applying for a new license plus a fine.
https://tinyurl.com/9na97mzy
https://tinyurl.com/pcw7j28s
Oh the outrage!!!!
And nothing about Trump bilking millions from his supporters using
Recurring donations ….
President Joe Biden’s proposed $2 trillion spending bill could lead to House Speaker Nancy Pelosi, D-Calif., receiving a sizable financial benefit due to her husband’s investments in Tesla.
Pelosi’s husband, Paul Pelosi, invested anywhere from $500,000 to $1 million in Tesla last December, according to financial disclosures. The electric car maker stands to benefit greatly from Biden’s infrastructure plan. Pelosi’s deputy chief of staff, Drew Hammill, told Fox that the speaker had no “prior knowledge” of the investment.
“If you read the disclosure here, you will see that under the ‘Owner’ column each is marked SP for spouse,” Hammill said. “The speaker has no involvement or prior knowledge of these transactions.”
According to the transaction report, Paul Pelosi purchased 25 call options, essentially a nonbinding agreement to purchase a stock at a set price by a certain date, of Tesla stock for somewhere between $500,000 and $1 million on December 22. The report also notes that Pelosi bought 100 call options each of Apple stock and Walt Disney stock along with 20,000 shares of Alliance Bernstein stock.
Looks like some of us took the day off from work.
Yes the BAD ORANGE MAN made RICH people pay more in federal taxes.
There was an offset for the SALT deductions. They decreased the top federal rate and the capital gains tax rate when they limited the SALT deduction to 10,000 (now $12,5000) back in the changes made in the 2017 law.
Before the 2017 law change the top rate was 39.6% for those filing Jointly over 470,000 income was lowered to 37% over $500,000. That was $26,000 gift in 2017 for those earning a million dollars a year.
I don’t see Schumer trying to undo that, a total give away these days, lower federal tax rates and put back in the SALT deductions? How the F can they do that. That is the biggest tax cut the rich have ever seen.
But but but….. hUntEr bIdEn’s lAptOp
cAncEl bEisBalllllll!!!!
nO mOrE cOca-cOlA eVer !!!!
Georgia’s Cobb County will reportedly lose more than $100 million in tourism revenue due to Major League Baseball’s decision to move the All-Star Game out of Atlanta over the state’s recent election law changes.
Jobs Creators Network CEO Alfredo Ortiz criticized the move by baseball officials, saying the economic benefit of the game was an opportunity for small businesses in the area, especially those owned by minorities, to generate much-needed revenue for an already strained city economy.
“[Georgia] is barely making it out of this pandemic,” Ortiz said. “And now they’re faced, under the Biden administration, with potentially higher taxes, a higher minimum wage, more red tape and regulations, and now this.”
President Joe Biden’s $1.9 trillion stimulus package will boost the US economy and drive faster global growth this year, the International Monetary Fund said Tuesday, though it warned that many countries continue to suffer from the pandemic and are at risk of being left behind.
The US economy will surpass its pre-pandemic size as growth reaches 6.4% this year, the IMF said, up 1.3 percentage points from the group’s forecast in January. The rebound will help the global economy expand 6% in 2021, an upgrade of 0.5 percentage points from the IMF’s previous outlook. The estimates are broadly in line with Wall Street’s expectations.
10:51 play stupid games….win stupid prizes. Or not.
The number of illegal immigrants apprehended crossing into the United States at the southern border skyrocketed in March to more than 171,000, the highest levels in at least 15 years, according to preliminary data, The Washington Post reported Tuesday.
The official U.S. Customs and Border Protection (CBP) figures contradict President Joe Biden’s claims that his administration is facing an influx no different from previous years, with border arrests and detentions more than doubling since January.
While Biden insisted last week that such a rise in those crossing the border happens every year, the March enforcement statistics contradict that claim, according to the Post.
The increase in crossings during the first two months of Biden’s administration is much more than any comparable period over the past two decades. The biggest two-month increase during the last big surge in 2019 was about 45,000 in raw numbers, while between this January and March it was more than 90,000.
Border agents have been contending with the overwhelming number of unaccompanied children in their care in recent weeks, with many held in cramped detention conditions for much longer than legal limits while they wait for bed space to open at emergency shelters administered by the Department of Health and Human Services.
Another problem facing CBP officials is their attempt to apprehend more-determined male entrants, with the number of “got aways” — those who are detected but not caught — having gone up to nearly 1,000 per day, the highest in recent memory.
The situation has become so dire, according to The Washington Free Beacon, that administration officials have requested that unrelated agency employees apply for 1-to-4-month volunteer stints at the border.
Gary, do you have Air Quotes around that ID.
https://youtu.be/PcllE7fx8-I
Funny how I was required to provide Insurance info for a vaccine that is supposedly free.
Wouldn’t it be smarter to hire more judges to process these immigrants and turn them into hard-working law-abiding taxpayers than to build walls and pay huge amounts of money to keep sending them back to Mexico only to wrangle the same people a few months later?
Ed,
Good to see capitalism at work. MLB producers not being dictated to by GA parasites. Ayn would be proud.
171,000?
They can take all of the job openings that the Covid dead opened.
GA is going to backfire tremendously. Just like the general.
Lib,
Sorry to hear. The system is stacked against the parents. Your lawyer was partially right. You do not have to help them, but you cannot be seen to be any way obstructive.
Montclair won their last one on a 15 day technical breach. That lawyer should have spotted that straight away and told the parents to pull the plug.
Appeal is very difficult, but can be done. The system is set up to stop cases getting further than OAL. I was able to file as I could show a very clear mistake by the judge. I filed Pro Se not really to win, but to keep the pressure on the district. The bar they have to clear is higher in Superior and Federal. I was quite happy to trade a few days vacation putting their witnesses back on the stand and running the clock on their lawyer.
Lib,
On that point, I am thinking the mortuary sciences might be for next step for me. Thinking the McFuneral business.
How % of “rich” liberal cities got f-ed on stimulus checks? $150k limit in this area?$112k on head of household? No high cost area reprieve? Somehow we have a system that checks zip code to offer higher borrowing limits, but can’t use same when it comes to stimulus? Rest of the country got it all.
Maybe its due to keeping costs down, but I thought the 150k limit was fair. If your AGI is over 150k after maxing out tax advantaged accounts and you still kept a job, things could be worse.
“Wouldn’t it be smarter to hire more judges to process these immigrants and turn them into hard-working law-abiding taxpayers than to build walls and pay huge amounts of money to keep sending them back to Mexico only to wrangle the same people a few months later?”
Uhmmmm…that already exists? It’s called [legal] immigration? Well established processes and procedures people seeking residency and citizenship are supposed to follow?
For the illegal immigrants, TX should arm its property holders contiguous with the Rio Grande with free weapons and ammo. The second a boat pulls of the Mexican side start shooting. Dry land? Perches like deer stands, open fire 20 yards out.
Bystander: But whose fault is it that the area is so expensive?
Looks like the Biden administration’s idea to solve the immigration issue is to build a wall.
https://twitter.com/Breaking911/status/1379452782827212804?s=20
@Breaking911
BREAKING: Biden’s DHS may restart construction on the U.S.-Mexico border wall to fill any “gaps” in the current barrier, says DHS Secretary Alejandro Mayorkas
3b,
Capitalism? Let’s not blame it squarely on govt. The insane pouring of money into 401k/finance management business over 40 years impacted NYC area the most. Real estate went nuts. Tons of sales people got paid tons and wages had to step up to compete for operations, support staff and back office workers. No doubt that the public debt elephant has grown too large and remains a problem as support jobs are exiting NY now. We agree on this point. Two wages to maintain any semblance of life in this area now.
@Breaking911
BREAKING: Biden’s DHS may restart construction on the U.S.-Mexico border wall to fill any “gaps” in the current barrier, says DHS Secretary Alejandro Mayorkas
LOL!!
Ed,
Tell me you realize that a border existed and was being maintained, prior to Dumpy’s reign..geez
Lib, the “wall” is a fence. Lets stop playing politics and allow the people who run the border patrol to give input on what is appropriate. Stopping people is only the half of it,we also need to stop contraband.
On the legal system, any legal case involving the government seems to be set up in a inherently unfair manner. The municipality in your case had an obligation and they failed, they should have been held accountable but they almost never are.
Bystander and 3b on the NYC economy, the government is the goose that killed the golden egg. Bystander in the case of your employer, they are a failed enterprise that should have gone under that only exists due to the grace of the Swiss government, they no longer want to engage in the US IB business and are just trying to tread water until they can unload the unit. They need to shrink costs to fatten the pig so to speak before they sell it. The mandate is clear cook the books to show maximum profitability by reducing costs as much as possible with no concern for long term consequences, that will be the next guys problem. On the issue of cost of living in and around NYC, the government definitely takes center stage, how much of your living expense is impacted by taxes, fees, and government interference. We all pay for the bloated bureaucracy, the welfare to burned out cities, etc. The tax burden is significant, many companies are pushing to move US jobs to Texas, SLC, etc, the wage difference is not as pronounced as you’d think but the cost of doing business is significant. At one point NJ and CT were beneficiaries of this but now they are almost as bad as NY so companies are moving further afield.
He11 Yea!
https://www.reuters.com/article/us-usa-treasury-yellen-eu/eu-backs-u-s-call-for-global-minimum-corporate-tax-but-rate-to-be-decided-idUSKBN2BT1YG
Bystander there should not have been stimulus checks. Stimulus should have been directed at those who are struggling and frankly should have been positioned as an interest free loan repayable on your income taxes over the next decade. Why did we give money to a bunch of folks who weren’t impacted? And even worse why were folks who were impacted not included due to earning too much before the effects of the pandemic?
Public policy all too often is hamfisted, blunt and ineffective. I can’t wait to see the impact of Joe Biden’s 2T infrastructure spend is. Again infrastructure spending is great when it is targeted(i.e no bridges to nowhere, hi-speed rail where no one wants or needs it). The government should build infrastructure where it is truly needed and private industry is unable or unwilling to build it.
Fab, corporations don’t pay taxes…..you do, just remember that. A smart country would not agree to this minimum corporate tax it is an assault on a countries sovereignty and many countries have benefited from being tax havens. Corporate taxes make up less than 10% of tax receipts in the US, so realistically corporations haven’t been paying for years, even before TCJA corporate taxes were around 10% of total tax revenue. I’d make the argument that encourage business creation and relocation to the US is well worth the reduction in income taxes. Just like it was miraculous that the economy improved when capital gains taxes were reduced in the clinton administration!
Fab, corporations don’t pay taxes…..you do, just remember that.
Nor do they give a rat’s @ss about inclusion, diversity and equality. It’s all about symbols because symbols appease the nil-informed masses. Stoke the woke crowd because that keeps things peaceful and profit margins safe and sound.
JCer,
Mostly agree but the golden goose was killed 13 years ago with bailouts. Public debt has is performing necro***lia on goose corpse. Ever dependent on govt debt to fund jobs in banking, military and ancillary services that provide jobs. T and I has to be paid at some point. My IB is absolute catastrophe. I don’t think it is they don’t want to engage in US IB but they can no longer compete cost-wise. I heard they were charging $30 commission per trade up until a few years ago. Still at $8 now. It is absurd. I wish you could be a fly on the wall with these mgt. conversations. “Can we offer guy highest salary at lower band then screw him for 2 years? At least project will be over by then when he leaves” Seriously these are the discussion for perm resources.
Bystander, your management in Switzerland does not like the US IB business, they are uncomfortable with the balance sheet risk. They want to sell but have a bunch of money invested and don’t want to take a bath. The cost cutting is all about reducing cost vs. revenue to make the business look more appealing to the next sucker. The swiss are risk averse, that seriously handicaps their ability to make money in the US I Banking game. I remember when your firm was immensely profitable, the office was full of employees making real money and the management spent money. The Swiss didn’t bother the US because they made literally tons of money and there was growth which was sorely missing in the Swiss business. Then the bottom fell out they lost billions, they had egg on their face with the stupid power points where the I Bank was offering bonuses to brokers for unloading the stuff they didn’t want on the balance sheet to their retails clients. Now all you have is contraction, they are giving up in areas they do not have a foothold in, they want to reduce costs to enhance profitability. You see how this is being run, the Swiss are not like Americans they don’t just forget about long term consequences, either they want to sell or they have something else in mind. I worked with a lot of people who were so heavily invested in the company stock, they were pretty much wiped out when the stock went into free fall. It is probably the worst run firm on the street to this day.
Bystander, back when they were flush with cash it was a good place to work despite being entirely incompetent.
Damn, mic drop..
Dion Rabouin
To brace the U.S. economy and stave off another Great Depression, the Federal Reserve has taken control of it through unprecedented intervention — manipulating market prices, controlling rates and propping up companies on a previously unimaginable scale.
Why it matters: The U.S. is a market-run, capitalist economy. But the market is ostensibly now governed by an unelected and largely independent group of technocrats that directs it by creating ridiculous sums of money to buy assets.
Get market news worthy of your time with Axios Markets. Subscribe for free.
Even with this control, the Fed has by its own admission failed to fully reach its goals — stable prices and maximum employment.
How it works: The Fed steadied the economy by setting interest rates near 0%, and buying so many bonds in the open market that it now boasts a $7.7 trillion balance sheet.
The hope is that companies will hire more workers, but that’s no longer how the economy works, notes Columbia University professor and Nobel Prize-winning economist Joseph Stiglitz.
Rather than hiring, companies buy back their stock and invest in technology designed to replace workers.
“We’ve been through a period where low-interest rates have not stimulated the economy very much and where disproportionately [companies’ increased profits] go into automation, killing jobs, not creating jobs,” Stiglitz tells Axios.
“At a zero interest rate the cost you focus on is the cost of labor, because that’s your only cost. Whereas if the cost of capital goes up relative to the cost of labor you get a more balanced kind of innovation and investment.”
Yes, but: Many argue the Fed was forced into this position and the extraordinary economic intervention is its attempt to make up for a new world of slowing growth, growing debt, an aging population and a dysfunctional Congress.
What happened: To battle the coronavirus pandemic, the Fed announced on March 23, 2020, that it would buy an unlimited amount of U.S. government bonds and mortgage-backed securities; purchase corporate bonds, including debt with a “junk” credit rating; and even provide financing directly to individual companies.
Take it to the street: “Why does the Fed have outsized influence on financial prices? Because it’s shown itself willing to act,” Vincent Reinhart, who spent 20 years as an economist at the Fed, tells Axios. “If something really bad happens, [Fed chair Jerome] Powell is stepping in.”
“The lunchtime bully doesn’t enforce order on the school playground by beating everybody up, they just have to beat one or two kids up,” Reinhart, now chief economist at Mellon, adds.
The intrigue: Knowing that asset prices can fall only so far before the Fed will act encourages market participants to buy at any level.
It also has essentially destroyed the ability of the market to determine companies’ value, Scott Minerd, CIO of Guggenheim Partners and an adviser to the New York Fed, told me in the midst of the crisis.
“The definition of market prices is whatever the Fed says it will be.”
The results
The combination of low-interest rates and inflated asset prices discourages saving and encourages risk-taking, empowering a wave of speculative investments.
The effects can be seen in the rise of Bitcoin (hailed as a savings asset that the Fed can’t manipulate), the frenzy in “meme stocks” like GameStop, and the rise of the stock market to record highs even as the economy had its largest contraction since 1946.
The Fed’s policies also allowed big companies to issue record amounts of debt at record low levels, keeping many of them in business and able to run essential functions.
But that privilege also has extended to unprofitable “zombie” companies — those without enough revenue to pay off their current monthly debt obligations — and kept new and vibrant firms from disrupting inefficient ones.
Where it stands: The benefits of this extreme action are supposed to reach everyday Americans but are largely resulting in a bonanza for the wealthy (just under 90% of stocks are held by the top 10% of U.S. households and homeownership rates skew significantly toward older, wealthier white Americans) and large corporations.
More than a year after the Fed launched its market onslaught there are still 8.4 million fewer Americans employed than before the pandemic, food insecurity has increased and poverty rates remain elevated.
America’s billionaires, on the other hand, have seen their fortunes grow by nearly $1.5 trillion.
Jcer: I am surprised the Europeans have not unloaded what they have left of the IB business here. Not that there are that many left.
Fab,
That is our strategy. My brother, the crazy successful ambulance chaser in South Jersey is looking into options. Our lawyer screwed up. But the judge was still supposed to rule on whether or not the D’s education was appropriate. She forgot to do that. Yes we will file an appeal as a bargaining chip for D’s post IEP placement. I will keep D in his expensive learning center for one more year either way. They are too fanstastic and no one else can do the work they are.
Bystander,
I wrote about that years ago. The central planner Fed implemented the ultimate “trickle down economics” policies, punishing savers with ultra low rates while propping up asset prices. This goes way back to the Obama Fed, but arguably has been the case since 1999.
Weird how people will criticize this but almost nobody is willing to abolish the central planning Fed and move to the gold standard and free banking. Existing banks have already invested a lot in the status quo.
My theory is that Swiss Banks were only actually good at one thing – keeping their customers’ identities secret. They weren’t actually very good consultants, investment bankers, brokers, or asset managers. But eventually Switzerland signed the banking info treaties and lost the secrecy angle, so tried to expand into more competitive segments in which they didn’t have much if any competitive advantage. And they have subsequently been much worse businesses and investments after they lost their secrecy advantage.
JCer,
That seems to be case. Only 2.5 years here and it has been a falling knife ever since. My boss has been here nearly 20. Nicest guy who just eats exec level sh^t over and over while they pay him crap. He amazes me in terms of being able to take it. Chaos, turnover, cost reductions with an@l probe. Swiss are the worst on earth when things go wrong. They will micro manage until you comply..or go crazy. Still, without Euro IBs, NYC banking sector is toast. There is too much slack in labor market now, forcing wages lower. I have absolutely zero movt on job front except contract roles in Augusta ME where I would have to be willing to move in two weeks time..seriously, that was verbatim. This is where country finds itself. I can’t imagine sh^t jobs being created like Fab mentioned in first post.
We are devolving into Mexico. Maybe Mexico SHOULD pay for the wall after all? In a few more years, they may need it to keep US out.
I renewed the car registration in person today. From time I parked the car until I was back in it after renewing registration was 9 minutes. Renewing my drivers license was less than 30 minutes in person. A tad quicker than nj dmv
“Corporate taxes make up less than 10% of tax receipts in the US”
And that is the core problem. We need that number to get back to the 20-30% level. Payroll and Income Tax revenues have steadily grown while Corporate Tax revenue has been flat. That needs to change.
Donnies offshore earnings repatriation did nothing for taxpayers. This is a good first step to address that problem for good.
Look what an extra 2 trillion can do. Fastest economic growth since 1984. 6.4% growth predicted this year . And when the 2 trillion infrastructure packages goes through , we will all be loaded like libturd
Good thing we don’t have to payback all that money we borrowed, right?
https://www.dailymail.co.uk/news/article-9440875/IMF-upgrades-forecast-2021-global-growth-record-6.html
It’s coming. The greatest economic expansion ever. Soon to be followed by the great depression two. Make sure you take some off the table during the party.
Whew! For a minute I thought pensions might be in trouble! /s
Female lawyer and judge? Sounds like my nightmare.
Phoenix
Sounds like a JJ story
Bystander . . .
Your job sounds bad. Your management sounds terrible.
Given that this has been true for a long time, I am surprised you are still seemingly frustrated by it. At what point do you shrug your shoulders, cash your paycheck, and just let the work nonsense roll off your back? Obviously, either this company or your division is not going to exist in ten years, so what are the consequences if you just check out and do the bare minimum? I can understand getting frustrated when you imagine your long-term trajectory will be tied to the company, but that is obviously not the case for you – this is a temporary stopover on the journey of your career.
“Bystander in the case of your employer, they are a failed enterprise that should have gone under that only exists due to the grace of the Swiss government, they no longer want to engage in the US IB business and are just trying to tread water until they can unload the unit.”
Any banker willing to be sold to a third party isn’t worth having……
Bystander, which one? The one with the dining room in the underground gold vault on the bahnhofstrasse or the one that just took a 5B bath?
“We’ve been through a period where low-interest rates have not stimulated the economy very much and where disproportionately [companies’ increased profits] go into automation, killing jobs, not creating jobs,” Stiglitz tells Axios.
Stiglitz 13 years ago: We need to keep interest rates at zero for an extended period to allow the economy to recover
Stiglitz today: It didn’t work. We just wrecked the country in the process
The 70s are back.
https://nypost.com/2021/04/06/quality-of-life-plummets-taxes-rocket-and-new-york-city-faces-doom-goodwin/
I need to find my bell bottom pants and lava lamp and listen to sonny and Cher
Man, what an absolutely stunning sunrise this morning.
Yup. Woke me the f up at 6:20. Mega orange.
crushed,
Yep, I vent here. Lots of different experiences and backgrounds on this blog. I’ve been working in IT project management for 20 years. This last 2.5 years between job search and time at this IB have been beyond frustrating, often humiliating. Pay cut, no raises, 6% bonuses and 60+ hour weeks will do that. I am always out in the NYC job market and it is beyond ridiculous. Lack of options is biggest frustration. I don’t want to mail it in. I am a doer given the ability but life gets sucked out of you dealing with onslaught of extra ask and cost cutting micro mgt by IB with nothing in return. I guess I feel like I am the only one missing something here. I have experience, masters, certifications yet nada..zilch except embarrassing hourly contract rates. JCer understands specifically what is going on. I get it. I get the world wage arbitrage, the decimation in IT salaries but yet somehow it is wrong..wrong for me, wrong for this country. As Carlin said “nobody seems to notice, nobody seems to care”.
Bystander,
Why not parlay your PM experience outside of the financial IT sector? Plenty of local PM jobs at Amazon, Google and Facebook (e.g. for data center builds and upgrades). Do you have PMP certification?
Regarding your specific job . . . ok, it sounds like it takes 60 hour weeks to keep your paycheck coming, and that you are concerned that if they fired you, you would not be able to find your current salary or better out in the market. I understand. You know your specific job situation better than anyone, but I wonder if it is possible to say “that deadline is not possible” which might reduce how much “input (work)” you are trading for your fixed or declining “output (pay)”. I struggle with being assertive at work (and thus can get crushed between a lot of responsibilties at work for low pay), so maybe I’m projecting that unduly. Just my two cents.
Regarding macro issues facing our country . . . I don’t have a great answer. I don’t see an easy answer for something that is lucrative and simple. The closest thing to it from what I’ve seen is white collar six figure job, with frugal consumption, with luck wrt health and divorce issues, with boglehead investment (low cost, broad market index funds). This combination has worked, to date, for the last few decades.
On the bright side, there are seemingly pockets of big opportunity still in this country. I have friends of friends with equity in a few companeis that have filed S-1’s. Despite some recent IPO market turbulence, it seem that this IPO market might hold up for the rest of 2021, so they might have public and sell-able shares before this bull market ends. Anybody long on broad index fund public equities is sitting at all-time highs right now.
Bystander & Crushed,
Chill, we are in Boomer Time. Just got to wait it out.
Boomer time will end when nasty multi front war starts and we get our behind checked with several aircraft carriers upside down, empty stores and warehouses Walmart, Walgreen, Apple and Amazon. Along with a barely working internet, phone service, ATMS, and offshored customer services.
It’s the flush the toilet moment when realization of how bad all the globalization has been for us. At the moment survival takes over and either we fall into different countries or we straighten ourselves out and check Wall Street and corporate America.
When Boomer time ends you won’t hear a word from the likes of Eddie.
left,
I used to work at one that took 5B hit. That was about a decade ago. Different times, different experience. I had great job lined up when axe fell. It was best career move of my life. A year of health coverage free on old IB and my contract rate for several years was $115 / hour. Today, you would be lucky to find $80/hr in NYC.
When Boomer time ends you won’t hear a word from the likes of Eddie.
I’ll be too busy picking off the vagaga hat wearing, flavored-crayon-eating woke addlepates.
Fast: Boomers ruined this country, and I am a tail end boomer, but it’s true. They sold out the American worker with globalization, endless wars in the Middle East, repeal of Glass Stegall, end of pensions in the private sector, bailed out the banks, quantitative easing, low rates that are destroying the company, and on it goes. So we really should not be surprised when Sanders and AOC, appeal to a lot of young people.
Thanks crushed. I am by far the most assertive on my team. I will challenge business when they send us sh%tty half-thought requirements. Culturally IT picks up their slack when things go bad. That is Indian thing as our head solution architect said to me “we are here to serve business” I said it is a partnership with business that works. We send our analysts out to be product owners, business proxies and IT SMEs when business fail to organize. It is overwhelming ask of single person and our standards for BA is super high to point where we can’t hire (pay) anyone, given CV requirements. I also have background in regulatory IT where there is no concept of ‘move the deadline’. FINRA, DTCC, FINMA, FCA ask and we jump..unfortunately L&C line has noboby watching timelines and constantly get changes in reg changes at last minute. This is IT org in chaos, plain and simple.
Anon,
Yes but I have not paid PMI dues for years. I did month long training in Agile as well. PMP is absolutely useless exam in practical sense as anyone can take it. You don’t need a college degree and it dirties the water with many of us who have real world experience delivering IT change work. My bro in law has not worked a stable job in 20 years yet got his PMP a year ago. He got 50/hr contract job then got canned in February bc projects are not done according to PMBOK. You have to have space knowledge, backbone, communication and soft skills to motivate people as well as tell right story to execs. PMP does none of that.
Bystander.
Times, they are a changin. You are far from alone. The values in our country have changed significantly and imo, not for the better. Though we like to make fun of the boomers for pilfering all of the societal gains they achieved, in many ways, I think they earned it. Richest class aside, that generation had to put 20% down to buy a home. They lived within their means as kids shared bedrooms and squeezed into the back of station wagons. Heck, I remember when the average sedan sat six comfortably. People acted differently too. Lord knows, had this pandemic occurred in the 50s-70s, no one would have said boo about getting vaccinated or locking down. It would have been a sacrifice made for the country, like the draft, which they also participated in. Even immigrants were vastly different. The goal of all non-english speaking immigrants seemed to be education and learning the language to acquire a piece of the huge American pie. Even Blacks looked at being an American completely differently. They too valued education and were drawn to improving their lot rather than relying on government handouts. And I can’t emphasize this enough. Work ethic was significantly higher. Perhaps not the length of the work week, but the focus placed on quality. And people seemed to be rewarded for it. Today, everyone is treated the same, breeding laziness over merit.
Is it me, or have expectations of quality and service gone to complete sh1t. I work in a company whose culture is to never ever make a mistake. They do occasionally happen, but it’s far and in between and nearly never to a high value client since that is naturally where we place the greatest focus. Lately, it’s become clearer that we have to get by with less labor to compete. To this end, quality would typically suffer, but increases in automation have reduced the human touches so significantly that error rates are lower than ever. Everywhere I turn, workflows are being scripted. Not to reduce labor, but to improve efficiency and quality. I think this speaks to the lack of productivity gains for the common worker in the last twenty years. Though, where I differ with Yang and other supporters of the Universal Basic Income, is that I don’t think further gains in AI and automation will yield enough productivity gains to be able to pay a UBI at amounts equal to former labor driven productivity gains.
You have all heard me rant and rave about how rare it is that service errors don’t occur at retail establishments. We were gifted tickets and went to the Devils game last night and witnessed their loss to the lowly Buffalo. We were happy to find a free parking spot virtually across the street from the arena where they were still charging either $20 or $30 to park for the game. Sadly, we were among perhaps the 3% who were smart enough to not get butt-r@ped for the privilege of parking at the venue. As we headed in, we were told that Gator’s bag was not allowed in. Only a 4″ x 7″ non-strapped clutch is now acceptable. I asked about the recent policy change and no one there could explain where it came from. I asked, “Was there another 911 that I missed?” Because the new no bag policy was not announced nor was there any note of it on our tickets. They happily pointed us to the fancy new lockers available to store your bag for $10. Obviously, this is not about security and much more about a new revenue stream. We sent our older son to run back to the car with the bag and took her purse inside, which was still too wide to legally go in, but since it fit in Gator’s pocket, it must have passed the security test. Being that there were maybe 2K people in attendance at the game, the stupidity of the comments fans were making at their weak attempt to heckle players was only outmatched by the stupidity required to pay $200 per person for admission to this complete dumpster fire of an event. Professional sports without a crowd are just lame. Even with free tickets. I suppose, we were keeping people employed. And there were a lot of them. Perhaps, there were even more employees there than fans. It’s certainly looked like it. This seems to be the modus operandi of today. Everywhere you look, massive dollars are being wasted. Why? PPP. Everyone knows those loans are going to be forgiven. Why not take them?
In other sad news, an investing newsletter (CWS) I’ve been reading for like 15 years has gone to a subscription model. $20 a month. You are lucky to get two articles out of the author (Eddy Elfenbein) each month, but they are good ones. I emailed the author and told him he is crazy to charge that much, but I think he considers himself the next Warren Buffet now that he has become a portfolio manager. Shame.
Pura Vida can’t come soon enough.
Bystander,
I get what you are saying about credentials “dirtying the water” but for many PM jobs the PMP credential is needed to land an HR screening interview. Highlighting the other skills and experience you noted is how you convince the hiring manager you are better than the other candidates. I don’t use 90% of the skills that my company screened for in my first interview but they wanted to know if I could talk the talk.
I think you need to understand what fields are in demand and not get in the habit of lamenting on what used to exist or what you want to exist. Do that for too long and you start to get crusty.
Lib: Fair points on the Boomers, but I note and it’s true, the average Boomer, vs the moneyed class, and it is a big difference. We had to put down 20
Percent, and getting a mortgage was like getting probed. One 30 day late payment, and you could be declined or pay a higher rate. I do agree too , that the Gen X and Millennials to some extent do like the fancy kitchens and bathrooms, and require lots of space, even though it’s one or two kids, vs Boomers with 4 or more. My neighbors are older Boomers , in the same house for 50 years, raised 4 kids in a 3 bedroom 1.5 bath house. The whole starter house thing started in the late 80 s. Yes. More quality and loyalty back then, but also more security and better benefits. The Boomer captains of industry destroyed all of that, and perhaps that’s why we are where we are today, where so many just don’t care.
Labor market index
https://graphics.reuters.com/USA-ECONOMY/LABORINDEX/nmopaoxozpa/chart.png
“Got a job out of college, no student debt
Retirement funded, a hundred percent”
Woop de do 20 percent down.
“Every finished home was equipped with televisions and modern kitchens. Homes cost around $8,000 at the end of the 1940s, and the G.I. Bill reduced this cost to only $400, or about $4,500 today. The median price of a Levitt home in today’s market is $400,000.
According to the inflation calculator, that house should cost 94k. You can’t buy the land for that.
Plus there was job stability and pension plans, all the things Reagan did away with. There was a time you got a gold watch and a pension working almost anywhere.
And you think any feminist of today would approve of this? If you tried this crap with a “modern” woman your divorce would cost more than the house, plus you would never see your kids. You think housing prices have gone up- you bought any puzzzy lately?
“They lived within their means as kids shared bedrooms and squeezed into the back of station wagons. Heck, I remember when the average sedan sat six comfortably.”
https://untappedcities.com/2020/07/31/the-controversial-history-of-levittown-americas-first-suburb/
“but yet somehow it is wrong..wrong for me, wrong for this country. As Carlin said “nobody seems to notice, nobody seems to care”.”
Bystander, chi and I have each advised you…..it may be outside of your comf0rt z0ne but you need to exit your area…not something rad1cal, but something adjacent….your vert1cal is in secular decline. check that. your vert1cal is in a death sp1ral. And you are entirely correct no one gives a fcuk. Nor will they.
It is virtually impossible to do (to be) well when the macr0 environment is an ava1anche against you. Trust me on that one….If you want to be happy jump off the rock into the dark p00l and take the chance….or accept the fact you are going to continue to try to push water uph1ll and the flowing spring will turn into a river before you retire. Those are the two choices. Anything else is just trying to change your socks as the water rushes over you.
“Regarding macro issues facing our country . . . I don’t have a great answer.”
Check out Dimon’s letter to shareholders published this morning. Very interesting.
Link won’t make it through filters.
Left: I read it earlier, perhaps it’s the start of something, perhaps it’s fear/warning to what could happen going forward it things don’t change.
lw,
Bitly
Dimon’s letter.
https://bit.ly/31VVF7j
“You think housing prices have gone up- you bought any puzzzy lately?”
LOL. Renting is far cheaper than buying, and not just for housing.
Add up all your SAH spouse’s ‘value added’.
Shopping.
Cooking.
Child Care.
Tutoring.
Cleaning/Laundry.
Puzzy.
Then put a monthly charge against purchasing each of these a la carte.
Cheaper than what she cost me. And that’s before the property settlement, alimony, and child support.
And I’m sure each category would have been done MUCH better by a paid professional ;)
3b,
It’s not going to change. The letter has some good ideas, few of which will ever be implemented.
The only hope would be if the script for the show Designated Survivor were to somehow become reality.
TY on the letter link and bitly
LW,
Haahaahaa. Haven’t laughed in months.
But that’s funny.
I see we are all up early lamenting society’s ills.
Completely agree with what is said and might add
that we probably won’t really gauge the fallout for
the kids and their mental health from the year in lockdown.
So much anxiety and depression floating around out there.
It’s a tough call 3B. I look at my stepfather, born in 34 and his graduating class in high school (Lafayette in Brooklyn). I’m not sure what was in the water, but a lot of real GOATS went to school with him or graduated a few years later. Sandy Koufax, Fred Wilpon, Jeff Epstein (yeah), Larry King, Rhea Perlman, Peter Max, 13 pro MLB players. It’s kind of insane. None the less, my father was close with Sandy and Wilpon and I always looked up to them as a kid as they were both really well off and genuinely nice people. He also knew Phil Esposito and few other sports celebrities as my dad claims to have been All-American in baseball over Sandy Koufax, who was not aware he was a pitcher in high school and instead was an all star basketball player. I’ve never seen proof of this, but the story has become legend. In my mind, I always meld my step-father’s upbringing as larger than life. He was able to get a Masters in Engineering from Columbia on scholarship alone, although he never played a game for them (it’s a long story). This man worked his buns off. Left the house at 5:15 am and often did not get home until 6pm. Of course, he instilled this work ethic in me. But I always associated his work ethic with everyone in his generation. I swear, outside of the hippies, all of my childhood friend’s parents worked incredibly hard. Sure, they wrecked the pension concept, even the union concept, Glass-Steagall, and a whole bunch of other rules that kept the differences between the haves and have nots a lot closer. But I’m not sure that’s to blame on the generation, so much the wealthiest members of THAT generation. Quite honestly, I’ve heard a lot of boomers on Wall Street talk about the need to balance the income playing field. They just don’t do it.
Dimon, who I really can’t stand, echoes what I’ve been saying for well over a decade. The AOC youth will eventually fix this for us. Hopefully. Sadly.
Essex,
I live societies ills every day when I am at work. Got home at 5am after working all day and night.
I’ve seen the craziest things happen to people, and my job is to help try to fix them.
I’m not the least surprised how some can be depressed.
Imagine a guy jumping 5 stories and surviving, looking at this twisted mess of a body, and knowing that when he wakes up and realizes how messed up his life was before now thanks to modern medicine he is still alive-realizing that he has the original problem, now one that is worse, and is in massive physical pain on top of the mental, and realizing even after having the courage to jump couldn’t even get that right.
NJ Transit is having a suicide special lately. 2 this month at least I believe.
Well, if that’s your choice I’d suggest you get it right. We are getting better and better from snatching you from the Grim Reaper.
Of course you might walk a little funny afterwards, if at all.
Then you have the 30 year old women diagnosed with terminal CA who just had children.
Time for breakfast now.
Koufax had the nastiest curve all. Im perplexed at how good he was.
Lib: I think you captured it the difference in mind set the regular boomers and then the corporate boomers and politicians who destroyed it all. I got my work ethic from my Dad, different from your story in that he was an immigrant, education stopped around what we would call 6th grade. He worked two jobs for over 20 years up at 5:00 am home at 9:30 during the week. Also many Saturdays and occasionally Sundays. Drafted for Korean War, 9 months after he got here. It was go or go home. Although not educated he was an incredible reader, and he loved all the science, nature, and history channels. The man could watch the weather channel for a couple of hours. He absolutely loved this country, the vastness of it, and how plentiful everything was. But he saw the changes coming years ago, and was concerned about what opportunities this country would be able to offer the young people going forward.
“Quite honestly, I’ve heard a lot of boomers on Wall Street talk about the need to balance the income playing field. They just don’t do it.”
Why is it incumbent on them to do it? Why don’t the ‘unbalanced’ simply take the (work) ethics of your stepfather?
It may be worth analyzing what was the dramatic change between your stepfather’s coming of age (c 1956) and the following generation.
(cough) Great (cough, cough) Society…….
Sitting on your arse complaining that things aren’t ‘equal’ and waiting for someone else to make them so is the antithesis of how you just described your stepfather and upbringing…….
Tough job Phoenix. I got to experience much of that when the D was in CHOP, only it all happened to children, most of them around toddler age. Just horrible.
BTW, there’s a charity I advise everyone I know give to when they are in the giving mood. It’s run by an absolutely amazing mom who lost a child to cancer. She keeps next to nothing for herself (I’ve been to her tiny apartment) and it all goes to real families in real need directly. It’s all volunteer and targeted really well. It’s called Kisses for Kyle. Next time you are making charitable donations. Throw a few sheckles her way. You can rest assure, every penny is going to a family that can really use a break.
Well apart from the sad and depressing topics being discussed, I must say the last two days have been thoughtful and pleasant on the blog. Just saying.
Left: Agreed. But I don’t think the same opportunities are available today , as there was in the past, and certainly not the same security.
Some humor to lighten the load.
https://www.youtube.com/watch?v=-4EDhdAHrOg
3b @ 10:59a
Yesterday:
That’s how things are done. Participate, and have the chance to thrive. Don’t, and you likely won’t. Your choice, your outcome.
Today:
Your screed is insensitive and racist. It violates my most basic right to not even attempt to contribute, and where have you hidden my cheese? Why do I not have exactly what others do? I want it, NOW.
Less politics and much less Pumps is always a recipe for blog improvement.
Lib,
For me it’s everyday. My tip for the day, wear your sunscreen or that dizziness, headache and vertigo just might be a tumor from that little mole on your leg.
Amazing how much it loves brain tissue. Read about it.
And in order to protect our friends in the law enforcement community, I, and all of you, are not allowed to tint our windows of our cars without jumping through expensive and difficult hoops. I already know whose life has been deemed more important there. Look into those laws as well. Unless you have a PBA shield, then you are GTG.
I implore you to look very carefully at your neck on the left side if you drive as much as I do. You might notice a color change from the sun exposure through that non tinted window. Watch for changes.
Enjoy the beach. Carefully. And keep sunscreen in your car.
https://www.aimatmelanoma.org/stages-of-melanoma/brain-metastases/
Agree. On that, no more political posts from me today.
Anyone know anything about these guys? Local company, out of Berkeley Heights.
https://www.hayward-pool.com/shop/en/pools
So much of what we learn, value, and pursue in life has to do with how we were brought up. I think (genX) which is my group were disillusioned by mass layoffs (AT&T and others) that became the norm. We understood free-agency and the fact that corporate life wasn’t a cradle to grave existence that it was for most Boomers. With that backdrop and the rise of globalism we saw our futures diminished. Except for the those who simply put their head down, worked their asses off, and had the good fortune or foresight to choose strong, growing industries.
Left: I agree. People are still working hard and making their way and doing quite well , and have the work ethic. I just think in the past it was a more level playing field with more opportunities. But if course some would rather scream about how difficult things are and do nothing, and others think up of new things to be outraged about like Pepe Le Phew. Talk about privilege? It’s a privilege someone can waste time on such nonsense, while millions all over the world struggle to survive.
Phoenix, ouch on the melanoma post but TY. Skin cancer runs in my family, I’m pretty judicious on exposure and religious on screening.
Funny, to your car comment and the memories of others above…did a big family trip in grammar school….drive to FL with an aunt. She took her four kids plus five cousins, we were all crammed into one of those massive Ford fake woody station wagons with bench seats and a 428…not enough seats for everyone, a few of us were always in the back. Totally illegal these days, probably get locked up for child abuse lol.
Anyway, when we broke into the South and had a full day of driving she had the worst and most bizarre sunburn I’ve ever seen. Angled across her lower face, on her shoulder, and left arm only (drove with the window down and arm on the sill all day long). Still remember it all these decades later. White as a ghost otherwise, bright red and blistered on that crazy pattern.
Personally, I think certain of my ancestors were seriously fcuking around south of the Alps…notwithstanding my Northern European roots I seem to retain a bit of olive coloring even through the winter and tan up quite quickly without burning…that, or maybe just my liver is shot…..
My last rant.
Anon,
I have PMP checked on application box. I know that. It is like saying you have a college degree now. It does not get you any farther. I am not relying on my crusty old profile. I do 4-6 interviews for my team as well as skills analysis. Young Indian with Agile, AI and Cloud are where its at. It is nearly 0 sum game for US IT worker. You can take same courses as them but India is still 40% cheaper and they have a 1.4 billion people to pull from, producing nearly all IT grads. They are not looking for middle age who just took LinkedIn course to say they are AWS “certified”. It really goes into quality as Lib described. We threw away quality for cheap. Risk tolerance has grown tremendously over last decade. Management is willing to take bets that govt won’t rattle their capital requirements or regulatory requirements. IT has been getting crumbs in investment, outside a few areas. Banks can focus on biggest cost, which is labor. Stiglitz nailed it.
Left,
Believe me – I applying horizontally across many industries but you are left with healthcare, military or small manufacturing in CT. Insurance is 90m away in Hartford so out for me. Yale NH owns nearly the entire health system in CT and not highest paying. I have no military clearance for Electric Boat or Sikorsky etc. I have dual citizenship (EU-Ireland) which I think is issue. Trying..I do get it.
The LA County Sheriff’s Office is expected to announce Wednesday that Tiger Woods was driving at 83 mph in a 45 mph zone at the time of his horrific crash — but that he will not face any charges or citations, according to a report.
Good luck, bystander. Seriously.
I have little but some knowledge of IT and hardware/software which makes me probably more dangerous than helpful but….
Do you have enough working years left where a more major move can make sense longer term? Amazon/Google are basically handing out job offers if you walk in front of one of their buildings.
Is it an option to lateral in at a lower title and tangential job (with from what I surmise from your situation may not even include a pay reduction) to be in an organization/vertical that is actually growing and getting dollars spent on it?
Bystander,
A little something to lighten your day.
https://www.youtube.com/watch?v=1_glHa8F7fA
Dimon mentions arteriosclerosis in his letter.
“bureaucratic plaque and institutional sclerosis”
He was minutes from death a little more than a year ago when his aorta tore while reading the morning papers. Luckily he was only a cab ride away from NewYork-Presbyterian Hospital, and his doctor answered the phone at 4AM. You can bet that is not in the company provided medical insurance.
Interesting he is not retiring, after that to take better care of himself. These Boomers with their Billions don’t even know when to retire and give a younger person a chance.
re: Amazon and Google.
Amazon is a tough nut in general, you will be a nobody there since their workforce is huge. Google is losing somewhere around 5-6 billion a year now trying to make their technology the dominant player in the cloud for rent space, so lots and lots of turnover.
You can bet you will get hired and perhaps quit within the same year. Many friends of mine have been through there, they are no better than and IB Technology Dept when it comes to what you have been describing. That might be to your advantage since you are already used to the bulls*hi*T. If you do apply stay away from any sales support roles unless you want to be a road warrior. Google is re-opening their offices this month and you will be assimilated, no work from home.
Microsoft or IBM need competent people and are hiring in droves too, same gig however it’s sales support. Most engineering roles and management can be on their massive campuses in India. Microsoft employees somewhere around 15,000 there and IBM has about 100,000 employees there.
Bystander,
Not to be repetitive but I think you are still looking through the lens of your current field and projecting that elsewhere.
Look at the Program Manager, Compliance job on Google’s career site and figure out how to position yourself. Maybe that isn’t the best fit but you get the point. Otherwise you are kind of barking at the moon.
JB,
We stent so many of those now, depending on location. 2 game changers during my tenure, robots and endovascular procedures.
Endovascular is a game changer as so many that could not survive survive open surgery get a new lease on life.
God installed the aorta like Chevy installed the water pump on the Equinox.
https://www.youtube.com/watch?v=249Dp5tQA50
Phoenix,
Hah..I had not seen that. Freaking hilarious. Reminds me of a conversation with Irish co-worker years back. I was relaying changes with EU immigration/Celtic Tiger really seemed to impact Ireland’s culture. He said “yes but let’s face it – we really needed some mix to the gene pool”. The truth..
Anon,
I probably applied for that job. I do about 6 a week. Blindly submitting a resume into a portal is something we all do, but 99% of time you will never hear back. I had job that were 100% fit to a T, even recruiter was excited yet never another call. That is way it goes today. Keep plugging
“The Chinese see an America that is losing ground in technology, infrastructure and education – a nation torn and crippled by politics, as well as racial and income inequality – and a country unable to coordinate government policies (fiscal, monetary, industrial, regulatory) in any coherent way to accomplish national goals. Unfortunately, recently, there is a lot of truth to this,” Dimon wrote.
It’s interesting that the main topic today on this forum has been the loss of jobs, wages, outsourcing, etc. and Jamie Dimon outlines what needs to be done to correct inequality, education, infrastructure among other items.
https://finance.yahoo.com/news/jamie-dimon-on-inequality-in-the-us-125413252.html
He also talks about an economic boom through 2023:
https://www.zerohedge.com/markets/jp-morgans-dimon-says-economic-boom-could-justify-lofty-stock-valuations-lasting-through
These Boomers with their Billions don’t even know when to retire and give a younger person a chance.
Give them a chance? Go and take it!! Waiting around for someone to hold the door for you? Never happen.
Eddie,
I am positioned for that rally. And though we don’t agree politically on lots of stuff, I do see value in the parochial/private school model and nothing but decline in the union-ruining public school area. If only the union dues went to either those paying them or back into the schools. It would probably make a huge difference.
Interesting day for us coming up tomorrow as we have to talk our sh1t lawyer into representing us in an appeal to force the hand of the school system to do what is right for the D.
I do see value in the parochial/private school model and nothing but decline in the union-ruining public school area.
So private school, if you can afford it, is better than public school for everyone.
Just more division.
Dimon is just another “can’t we all get along” elitist.
Lib,
I’ve given up on IEP. My son is only 4 but academically smart and verbal. They want to shove him into KG though he lost 6 mos of social learning due to Covid closure. He is not ready. They know this yet removed concerns right before PPT. Lawyering up would cost more than paying for a year of private pre-k. They know that too. Sorry Lib. I cant imagine your battle.
sh1t lawyer
Didn’t know that was a type. Thought they all are.
Ticks and other parasites could learn a thing or two from them.
I was at AT&T HQ cafeteria Basking Ridge in 1999. Mouthing off at lunch table with Treasurer and maybe 4 or 5 recent MBA’s. We were loud and aggressive. We were discussing that with 7 RBOCs, AT&T, WorldCom and Sprint, maybe only two of these 10 companies survive. The betting money was on NY Bell and Southwestern Bell. That turned out to be the case. NY Bell became, NYNex, then Verizon. Southwestern Bell became SBC, and SBC bought the remnants of AT&T. So today the two companies are Verizon and a different AT&T. The service all 10 of these companies offered barely exists anymore…… POTS (plain old telephone service).
Sitting at the next table was an old guy looking at us who was the “AT&T Historian” (the last) and the “AT&T (in-house) Economist” (the last). They were looking at us with darts in their eyes and steam coming out of there ears.
leftwing says:
April 7, 2021 at 10:26 am
Bystander, chi and I have each advised you…..it may be outside of your comf0rt z0ne but you need to exit your area…not something rad1cal, but something adjacent….your vert1cal is in secular decline. check that. your vert1cal is in a death sp1ral. And you are entirely correct no one gives a fcuk. Nor will they.
It is virtually impossible to do (to be) well when the macr0 environment is an ava1anche against you. Trust me on that one….If you want to be happy jump off the rock into the dark p00l and take the chance….or accept the fact you are going to continue to try to push water uph1ll and the flowing spring will turn into a river before you retire. Those are the two choices. Anything else is just trying to change your socks as the water rushes over you.
Sh!t is not an adjective…… it is a noun…. it is the subject matter of a sector of the law.
Phoenix says:
April 7, 2021 at 1:05 pm
sh1t lawyer
Didn’t know that was a type. Thought they all are.
Ticks and other parasites could learn a thing or two from them.
What is amazing is how people in America put up with it’s lousy court systems and purposely convoluted laws.
Then they complain about rioting in the streets, violence, hate, and injustice.
It’s not an accident. The system is working just like it was designed. You know that by the fact it never gets better- cause that is the way it is intended to work.
The court system is designed to provide a good income to judges, lawyers, and sundry hanger-ons.
chi,
In that context it could be both. I’ll go with both.
As Gomer Pyle would say: “Surprise, surprise, surprise.”
“An internal affairs investigation has been launched at the Hudson County Prosecutor’s Office after cash recovered in several different cases went missing, authorities announced Tuesday.
All of the missing cash had been recovered from scenes and was being temporarily held for safekeeping, Hudson County Prosecutor Esther Suarez said.
The money was kept in temporary storage in locked safes at the Prosecutor’s Office with limited access by investigative staff.
F* that sh&theel Dimon. They act like they have nothing to do with it. Like Dalio talking about inequality on 60m just before plunging into sea in his personal submarine. He earned it but Dalio outsourced entire MO to BNY and Northern Trust years back then outsourced his HR, finance and recruiting to Indian firm Genpact. Hundreds CT jobs lost. CEOs cover sh*t up by saying it allows us to focus on our “core services”.
I might have been right about Texas, though I already admitted I was wrong. They posted their highest number of cases (without an anomaly in the data) since March 5th two days ago. Number yesterday was relatively high too. We’ll see if this rally has legs. :P
US workers can finds lots of great data here. See what vermin CEO hypocrites are up to.
https://www.myvisajobs.com/
The American Justice system is on trial right now.
Is Chauvin going to walk? Or get a light sentence?
Amazing how they are trying to gaslight what everyone saw with their own eyes and heard with their own ears.
Wonder what Dimon has to say about this.
87 in a 45. Man….when I turned 26, I toned it down to 50 in a 45. Doesn’t he get old?
based on what I’ve seen, the only thing I would imagine Chauvin could actually get found guilty of is some sort of negligence in not checking the guy’s vitals. Although, one of the other officers checked for a pulse almost immediately after he stopped responding from the raw officer cam video.
The chances of an overdose of fentanyl are greater than with other opioids, and an overdose can also happen more quickly because of the potency of this drug, and there are many situations where misusing fentanyl turns out to be fatal.
The guy was on fentanyl. All these opiod ODs are a simple you stop breathing because your diaphragm is too relaxed. I know of an EMT who deals with them regularly. He gives them oxygen and the magically come back to life. If they start mouthing off, he takes the oxygen off and puts them back to sleep for a few seconds. This goes on for 10 minutes while he waits for Narcan.
Floyd’s arrest the previous year showed the exact same behavior as an act to try to avoid getting busted for possession. He downs everything he has on him and acts hysterical. This time, he took too much, and the act pretty much just made the officers ignore him after 15 minutes of putting up with his crap. I don’t think the facts even matter in the case for a verdict. It’s just who’s on the jury. I
Regardless of the verdict, I have a bad feeling for Minneapolis. f he is found guilty, the cops are probably going to stop policing and if he is found not guilty, they are going to try to burn the city to the ground again.
Chi – 1999? I was there Gandalf 3000 years ago….Allot happened by then already, was fun times.
Bell Atlantic and NYNEX merger was 1996, two months after Bill Clinton signed the
Telecommunications Act (I know this because we all were told to become political and join the PAC to lobby for it.) Name change to Verizon was 2000.
SBC Communications and Pacific Telephone was 1997
Worldcom & MCI was 1997
Bell Atlantic & GTE merger was 1998
Later on Cingular came about in 2001
T-Mobile in 2002
Cingular and ATT Wireless 2004
Sprint and Nextel was 2005 ( I loved the old Nextel)
AT&T and Bell South was 2006
Today I have two expensive phone bills instead of one. If the Department of Justice feels like stepping in and imposing competition before we end up with one phone company again let me know.
Phoenix – re: “Wonder what Dimon has to say about this.” He did, he called it Murder in his Shareholder newsletter today.
BRT – I have a feeling that many cities not just Minneapolis are going to burn again anyway regardless of the verdict. Demonstrate peacefully or Take the Streets was debated over the Summer and peaceful lost out. There were nearly a 1000 “marches” that turned into violent riots last year alone. You can bet there will be more this year even with the Democrats running both houses of Congress and the White House. The mob is fickle, Chauvin will be forgotten in a month and there is will be a new reason(s) for mob violence in this up and coming summer’s marching season.
As a single income household (by choice now with special needs kid), I think major change from boomers is that I will probably never own a dog. Too much financial risk that could seriously dent my kid’s education savings. My brother makes very good living and has two dogs. In past year, he had one seriously ill where needed surgery and post care, easily 8k. Other had cracked tooth extraction, not sure 2k? Same dog having issue with hind legs and may need surgery so probably 5k. This is in one year. Dogs are 8 years old and I can’t fathom total cost of procedures, kenneling, food, fencing. I grew up with dogs but pet industry will cripple you now.
To buy a pet today, you have to commit yourself to a limit of what you are willing to pay for care. I justify this by thinking about the replacement cost versus the repair cost. Though we care about our ill pets a ton. Anyone who has had a pet die knows the pain goes away with the purchase of a new dog. So why spend 5 times the cost of a replacement pet, to potentially (and I use this word because too often the repair is only temporary) repair the injured or sick one.
When we purchased our last dog, I had a sliding rate repair limit which I shared with the family and made them agree to before getting him. Basically, the cost of a new dog was $1,000. Every year, I would be willing to spend $100 less than the $1,000 purchase price. So at year 6, $400 tops. At age 10 or over, forget about it. Just buy a new dog. The family also promised to help me take care of the dog. This did not happen.
There’s an awful lot of money to be made on the care of dogs and cats. You can save a ton by using the traveling vets of Vetco for shots and tests. They will even perform a mini physical. Though if you keep your dog healthy through exercise and not overfeeding or feeding table food, you really will never need a vet. Our dog made it 3 years past his expectancy and the only thing we used our vet for was to put him out of his misery. Don’t get suckered in. All dogs are trainable and will love you unconditionally if you are fare to them. Same with cats, besides the training thing.
One major change is that people now want to feel connected to and “safe” in the workplace. Prior to 9/11 I am not sure that the feeling of safety was a major consideration in one’s choices for employment. “safety” and belonging seem to rank high in the minds of younger employees.
Lib, $1000 a dog we just gave away a bunch of toy dogs for $600. But kids were more concerned about good homes vs $$. Ughhh. Plus I never joined facebook and I’m told I could have made much more that way.
As for replacement costs. I’m totally in agreement. We had an 18 year old terrier. Where on her annual check up the doc wanted to check her thyroid and put her on a special diet as she had gained weight. I told the doc, this dog has made it 18 years living off 4 plates of kids chicken nuggets and whatever else fell off their plates. Why start trying to figure this out now? The nurse was ready to report me on dog abuse
Post 10 years all bets are off. Sorry Spot. My bro’s dogs had problems at 4-5 years old but repairable issues. I think one dog was biting others legs and had to get fixed. Still thousands. I would rather not get one then have to be possinly grim reaper only a few years later. Looking into kids’s eyes..you would have to be pretty hardcore. Debt is basically expected as soothing outcome for all. They have great payment plans now ;>)
Fast: I understand everyone’s financial situation is different, and some people have had financial setbacks that prevent them from retiring. But away from that staying on in a full time position after 65/66, then you are taking a full time spot from someone with young kids/ family who needs the job. I also understand the need to be useful and stimulated, but there are lots of part time opportunities for retired people, as well as volunteering and mentoring. Look at all these old geezer politicians we have, Biden, Mc Connell, Schumer, Pelosi and more, it’s time to move on for the younger generations.
I think too that “cost” has a hell of a lot of impact on retirement. (duh)…I could go back to flyover country and spend pennies on the dollar of what it would cost for me to live in one of these high cost coastal towns…..think about it. I know. I know. Depressing.
BRT
From what I have seen its more the negligence, all of his colleagues called him out on the stand. Even after the EMT’s showed up he didn’t move, they had to pull him off of him.
Trick, I agree, but they still have to prove that he didn’t die of an OD, which based on toxicology, you just can’t.
I’m thinking the other way. The Def would have to prove he did die from an OD, not sure that is happening with his lawyer
“Sitting at the next table was an old guy looking at us who was the “AT&T Historian” (the last) and the “AT&T (in-house) Economist” (the last). They were looking at us with darts in their eyes and steam coming out of there ears.”
They should have been fired. The whiny idiot children of these fools are the ones today who believe everything is ‘due’ them simply because the have a sheepskin and draw air.
“Bell Atlantic and NYNEX merger was 1996…
SBC Communications and Pacific Telephone was 1997
Bell Atlantic & GTE merger was 1998”
Bought and sold more than one of the baby bells’ yellow pages businesses. Payphone networks, too. Good as gold in the bank in the early 90s, monopoly and total annuity. What could go wrong……..LOLOLOL.
Life is fcuked up…..in a perfect world you age backwards. Born with all the knowledge of a lifetime and gradually lose it…why not, most of us are going to get some level of dementia anyway. At least we could afford the midlife crisis car before starting to bald or grey.
I’m so thankful for the experiences I had, wish I could crack my head open and dump them into my kids’ brains…..
“When we purchased our last dog, I had a sliding rate repair limit which I shared with the family and made them agree to before getting him. Basically, the cost of a new dog was $1,000. Every year, I would be willing to spend $100 less than the $1,000 purchase price.”
Again, you top yourself….said in awe and entirely as a compliment…
You are batsh1t crazy!
I actually find myself getting infinitely wiser as I age. Sure, I occasional use the wrong homophone, but my wisdom is growing rapidly in middle age. I often try to impart some of it on my family and they want nothing of it. What do they no?
Leftwing,
It’s the god’s honest truth. Feel free to question Gator on it the next time you see her. She’ll repeat it verbatim.
Yup. Batsh1t crazy is what everyone says about my Pura Vida plan. I’ll be laughing when they’re kids are selling spearmint flavored Chicklets.
Thanks for the kind words.
I have no doubt it’s the truth, that’s what it makes it so great!
BRT- I listened to Morries Hall’s lawyer yesterday. She made an argument for 5th amendment to the court was that Hall could be brought up on 3rd Degree Murder charges if he testifies that he gave or sold the fatal dose of fentanyl to Floyd.
Pravda barely covers it, and says it “could incriminate her client” says nothing about what his Lawyer argued and CNN does not COVER IT AT ALL.
Hall’s lawyer actually said her client could be charged with the 3rd degree murder of George Floyd, the guy was not murdered twice.
https://www.nytimes.com/2021/04/06/us/morries-hall-testimony-george-floyd.html
Sorry white Grandma, you are too expensive.
By the time you reach 65 years old, average healthcare costs are $11.3K per person, per year in the United States. This is nearly triple the annual average cost of when you’re in your 20s and 30s. During your adult lifetime, average spending for women is nearly twice as high as for men. Healthcare spending for minority groups like Black and Hispanic Americans is approximately 30% less than on White Americans.
During one’s lifetime, over $400K will be spent on the average American’s healthcare in today’s dollars. And that is if medical costs rise as the same rate as inflation. If medical costs rise at 3% more than inflation, your healthcare will cost over $2MM, the vast majority of which will take place after the age of 45.
Feminists never talk about this benefit that men don’t get- that they are high maintenance for many reasons:
“During your adult lifetime, average spending for women is nearly twice as high as for men.”
https://www.registerednursing.org/articles/healthcare-costs-by-age/
Essex: I agree, but at some point it’s time to retire. Lots of Boomers have pensions, plus they can sell their house into this market and profit handsomely; although some have used it an ATM over the years and will walk out with little to nothing.
Bystander,
Windows down, cruising back roads, Me and Bobby McGhee on XM, the grateful dead version. What a beautiful day.
Awesome Ed…enjoy. Which year? Skull and Roses? Great version. I like many versions from Euro ’72 tour. Splitting hairs though as most 70s were good.
Two movie recommendations – Leave No Trace and Nomadland. Somewhat similar stories about people living off the grid but really powerful films about finding your place in this insane world. Note: I will watch Frances McDormand in pretty much any movie.
Ego Booster.
https://www.nj.com/opinion/2021/04/thank-an-nj-teacher-for-your-homes-high-resale-value-letters.html
Thanks Phoenix, when I read that article, I thought at the end the author’s name would be Phil Murphy. Turns out it is a kid who graduated form college last year. Clever comeback by the kid, I thought.
The district I taught in never saw a home price decline, even during 2008. Yes, the school district is a primary selling point. But they’ve undergone 100% turnover and have an awful administration. Still performing at the highest. Genes, IQ, and parenting account for 80% of the performance. The teachers do the other 20%. Plenty of a good teachers in the district. Plenty of god awful ones as well. The worst teacher I ever taught with used to brag about how 75% of his kids passed the AP exam. Looks great from a national or even statewide standpoint. In every other subject in school, it was mid 90s. So it was woefully bad.
Bystander,
Skull and Roses, 1971
Low income housing coming to Saddle River. Is there even a bus stop in that town?
https://nypost.com/2021/04/07/rosie-odonnells-nj-home-to-be-turned-into-affordable-housing/
Bystander,
Dick Proenneke went to a remote part of Alaska to see if he could make it on his own for one year. Ended up staying 40. Lots of his videos available. Axe & saw to cut trees and build cabin. Dug gravel out of river for foundation.
https://www.youtube.com/watch?v=_3NRdZ8J24Q
Saddle River Housing: I’m sure the bleeding heart liberals with those colorful lawn signs will aid, assist and welcome the income-challenged folks with open arms.
I spent two summers there landscaping homes in that area to pay for college. This home is just off East Allendale road just past Saddle River Road a few houses down from the grammar school.
Nearest grocery store is quite far, there is however a Bus Stop on Rt 17.
https://www.google.com/maps/@41.030102,-74.092143,562m/data=!3m1!1e3?hl=en-US
I am surprised they are segregating the low income units from the rest of the development. And residents are outraged of course. It’s the easiest way to unmask a hypocrite Liberal, just say low income housing and they will panic. Then they will give you a tortured explanation as to how they believe in low income housing, just that it won’t work in their town.
As for not near anything in SR, low income people have cars they can drive. The nearest place by me to buy a quart of milk is a 7 11 it’s almost a half mile away, nearest supermarket about the same.
Just give them a Tesla along with the keys to their new place. Problem solved.
What defines low income in Saddle River? 250k a year?
I am surprised it did not sell even with the pandemic panic of escaping NYC. Perhaps the neighborhood jumped the shark when Rosie moved in 2013. 30 year care to comment?
Not a bad deal for the developer, use the courts to force compliance with COAH. They got approval for what 52 units Million + dollar condos and 8 low/medium income rentals stashed out back.
Looking over the settlement there are more developments coming, just up the street on Allendale Ave. 14 algonquin trail another 60 units and then another 80 units on Chocktaw trail rd.
They may need to raise taxes and build more schools.
https://www.saddleriver.org/vertical/sites/%7B2E7E07BD-0A79-4A05-9B79-960D47AACDC0%7D/uploads/2020-02-10-FSHC-Saddle-River-SRI-Settlement-FINAL-signed.pdf
Now that I think of it. Wayne is out of compliance with COAH. Since the Ping Pong palace was turned down by the Zoning board, as it does not “fit the character of the neighborhood”, I could see the owner of that 10 acre empty lot at 225 Colfax Road in Wayne suing to put up a 100 low income housing units and name it something like “Paddle Hills Housing Complex”
https://www.northjersey.com/story/news/passaic/wayne/2019/08/09/wayne-nj-pingpong-facility-application-has-been-withdrawn/1969288001/
It is just a matter of time….
New Jersey family of four below $68k income is low income.
Juice: I agree. They will be sorry they turned down the ping pong place.
This is even better. Pumps cannot vote in Clifton and they are going to whack him for another what grand a year in taxes?
There was Billions provided for this in the Biden bailout bill to the states for upgraded HVAC due to Covid, there should be no need for this additional borrowing now but Clifton wants to go through with the borrow the money anyway.
“CLIFTON — With two weeks to go before a referendum on $168 million in school spending, officials made their pitch at City Hall in hopes of winning over council members and voters.
The school district’s central argument revolves around the fact that a successful referendum means the state of New Jersey will finance roughly a third of the cost, or about $55 million dollars.
Go it alone and the cost is entirely on the local property tax payer, and projects could take decades to complete, Superintendent of Schools Danny Robertozzi said.
In a district whose schools are “historic to the point of being outdated … these are projects that need to be done,” Robertozzi said.
The bulk of the money, roughly $79 million, would go to upgrade the HVAC in 18 of 19 schools where the systems are at least 60 years old, Robertozzi said.
School officials have said outdated air circulation systems are a major reason many districts, including Clifton, have resorted to virtual learning during the pandemic.
Other needs that would be covered under the proposal include:
Improving security at all the district’s schools and upgrading cameras.
Renovating bathrooms and making them ADA-compliant throughout the district.
Installing a new community turf field and field house at Woodrow Wilson Middle School.
Installing an elevator at Christopher Columbus Middle School.
Upgrading the weight room and facilities at Clifton Stadium.
Renovating auditoriums at both middle schools.
The cost, said school board finance chairman James Daley, assuming current borrowing rates, would be about $6 million a year.
For each $100,000 of a home’s assessed value, that comes out to about $110 per year in additional taxes.”
Speaking of ping pong balls. Did I ever tell you guys about the time I was at Frank’s Chicken House down in Manville…
“Installing a new community turf field and field house at Woodrow Wilson Middle School.”
I guess there is even pork in local bills too.
And residents are outraged of course. It’s the easiest way to unmask a hypocrite Liberal, just say low income housing and they will panic.
They do it in Princeton all the time. March along Nassau St. for equal rights, but fight any such projects due to “environmental impact”.
3b
I hear people will pay up to live across the street from faux greco roman columns.
BRT:I am sure they do. It’s fun watching them squirm and give tortured explanations as to why it should not be in their town. Of course if it
Was being built in a blue collar town and residents there opposed it they would say they were racists. You can’t say you support low income housing if you are against it in your town.
I wonder if the value of his Tiger Wood rails have dropped with the recent news?
Hold: No need to go to Rome or Athens!
Saddle River Market has been weak for years. The Great Recession crushed values. Rosie bought at a high point post 2008. SALT deduction going away crushed this market. There has been some covid related recovery but well short of the general market.
Tiger is an example of a life with perhaps too much privilege. Best example I can think of is how he would saunter into Perkins restaurant for breakfast and then proceed to bang the waitress in the parking lot after eating his egg white and broccoli sandwich. This went on for more than a year apparently, while he was married of course!
Friend of mine who is down in Florida recently ran into Tiger at his local country club. Tiger was sitting in the club with his hat on backwards. If it were anyone else perhaps even another pro or otherwise they would have been asked to fix the direction of hat. But hey he is Tiger…..
I am glad he survived his latest escape. Hopefully there will be more to come from him, another recovery and rise and fall.
I got the 1st Pfizer shot yesterday – definitely feeling some lethargy and effects today. A friend mentioned that if you had Covid in the past and then received the vaccine, you might feel stronger side effects. Don’t know if anyone heard/read the same. I truly think I had Covid in December of 2019.
Juice,
Let’s not poke the idiot dragon. It has been pleasant here last few days other than my b*tching.
Did “it” get the Ban Hammer?
Boonton is a really good example of a town that built affordable housing. They have that little ‘project’ tower in the alley behind Main St. Now it seems like much of downtown Boonton is in fact ‘affordable’…..see how that works?
I went to walmart this morning for the first time this year. It was awesome. Saw lots of employees not wearing their masks properly. Saw a guy not wearing a mask who was so fat he was sitting in one of those self propelled carts and he was wider than the basket.
Walmart has also removed more than half of the regular registers and built a huge rectangle of 24 scan and go registers in two rows. The rows were at least 25 feet from each other. Each register and storage area for groceries was a j shape with a footprint about the size of a queen sized bed. Everyone will easily be at least 8 feet away from the person next to them. I actually liked it. I wonder if it is a response to possible higher federal minimum wages, or prepping for the next pandemic.
In the referendum it also includes renaming the schools.
The Middle Schools become “Indigenous Peoples Middle School” and “Princeton First Middle School”.
Juice Box says:
April 8, 2021 at 9:00 am
This is even better. Pumps cannot vote in Clifton and they are going to whack him for another what grand a year in taxes?
There was Billions provided for this in the Biden bailout bill to the states for upgraded HVAC due to Covid, there should be no need for this additional borrowing now but Clifton wants to go through with the borrow the money anyway.
“CLIFTON — With two weeks to go before a referendum on $168 million in school spending, officials made their pitch at City Hall in hopes of winning over council members and voters.
The school district’s central argument revolves around the fact that a successful referendum means the state of New Jersey will finance roughly a third of the cost, or about $55 million dollars.
Go it alone and the cost is entirely on the local property tax payer, and projects could take decades to complete, Superintendent of Schools Danny Robertozzi said.
In a district whose schools are “historic to the point of being outdated … these are projects that need to be done,” Robertozzi said.
The bulk of the money, roughly $79 million, would go to upgrade the HVAC in 18 of 19 schools where the systems are at least 60 years old, Robertozzi said.
School officials have said outdated air circulation systems are a major reason many districts, including Clifton, have resorted to virtual learning during the pandemic.
Other needs that would be covered under the proposal include:
Improving security at all the district’s schools and upgrading cameras.
Renovating bathrooms and making them ADA-compliant throughout the district.
Installing a new community turf field and field house at Woodrow Wilson Middle School.
Installing an elevator at Christopher Columbus Middle School.
Upgrading the weight room and facilities at Clifton Stadium.
Renovating auditoriums at both middle schools.
The cost, said school board finance chairman James Daley, assuming current borrowing rates, would be about $6 million a year.
Essex: One cannot have it both ways, if that’s the price that’s paid then that’s the way it goes. But liberals can’t go around screaming racism, and then be outraged if low income housing is built in their town.
https://www.nj.com/news/2021/04/crews-work-to-control-inferno-at-nj-apartment-complex.html
Another AvalonBay apartment property burns. NJ’s #1 pyromaniac must of lost money on the stock.
A light read for your morning.
https://www.dni.gov/files/ODNI/documents/assessments/GlobalTrends_2040.pdf
Chgo: I don’t know if it has changed, but at one time that state funding to build/ improve schools was not guaranteed. When I used to care about crap like that, I challenged the school board in my town at a summer meeting, with only me and one other resident there, along with BOE members and representatives from state government. Basically, the state says they will pay x amount, and each year they set aside x amount of money to pay for it. However, if the environment changes they can elect not to make the payment to the town that year. Come the following year, the same thing could happen, or they could make the payment for that year; the amount from the prior year would not be paid. I challenged the school board members on this, as I read the OS for a school bond offering issued by another town around the same time. The BOE insisted I was wrong, the representatives from the state including an attorney said nothing, until I challenged them to respond; they acknowledged I
Was in fact correct.
Coca-Cola has released a statement condemning Georgia’s new voting legislation, but the company requires valid ID to be admitted to its annual meeting of shareholders.
“At the entrance to the meeting, we will verify your registration and request to see your admission ticket and a valid form of photo identification, such as a driver’s license or passport,” the company wrote in reference to its 2020 annual meeting of shareholders, held before the coronavirus pandemic.
If you’re too sup1d or lazy to provide proof that you exist, then you’re not worthy in having a say who gets elected to office. I had to show two forms of ID for a covid shot; a driver’s license and insurance card. How are the lesser informed masses getting vaccinations without ID?
“But liberals can’t go around screaming racism, and then be outraged if low income housing is built in their town.”
LOL. Of course they can. Cut a liberal and they bleed hypocrisy. It’s what they do.
With knowledge and without remorse.
Left: Agreed. But they do.
3b,
Hard to argue that point but hypocrisy is not R or D trait specifically. When our money is on the line then we are all hyprocrites, except the very few..like Dan Price..he is dreamy.
3B,
It wasn’t guaranteed when Montclair was supposed to build their new school (Bullock) with funding from the state scholastic construction fund which went belly up. The school which was supposed to cost the taxpayer 15K cost us 39K after bonding.
Bystander: It is when you claim like so many Liberals do, that they are not racist, and they support low income housing, and they put up their BLM signs, and accuse others of racism. Republic either come right out and say they don’t want it as it and I quote destroy property values, and the quality of their schools. That’s the profound difference on this topic when it comes to the two. Liberals simply can’t scream racism and then engage in racist behavior at the same time. I have had Liberals tell me it should be built in towns that are already struggling, that jobs are too far away from their town, and it will create hardship for the residents any kind of BS explanation why it should not be built in their town, but absolutely build it in some other town.
Lib: It’s all in the fine print, if one wants to read the OS. The referendum in my town passed at the time. I never followed up on what happened over the years. I simply lost I interest. I will say, that having residents as Mayors and Council members and BOE members is scary. So many are worse than clueless!
Couldn’t agree more.
I support regionalization of schools by county (if not nearly all government services). If that occurred then it wouldn’t be the end of the world to have a few poor families in every town. Your kids will already be going to school with them and forming friendships with them since white kids always gravitate to the cool troublemakers. Might as well have them as neighbors too, you know. To shorten the drive over. Plus, your kid’s high school ranking will go up a few points.
3B,
What happened to “party of jesus”? “helping your fellow man”, “easier for camel to pass through needle than rich going to heaven”..c’mon now. The hyprocrisy is all over.
Bystander: You are taking it down a different path. Of course their is hypocrisy all around. But on the topic of racism and low income housing it’s clear to me the Liberals take the hypocrisy prize on that. As for religion, history shows that people have been killing other people in the name of their God for centuries.
Lib: I agree. Bergen Co has 70 odd towns with almost all separate school systems and police and DPW and all the rest. The state government should force regionalization.
Disband the school unions. Better yet, dismember the school unions.
3b,
To me it is the same point. Liberals treat classism/racism as their pariah. There is hypocrisy as you mentioned. Rs never shut up about the bible and their Christian values yet support everything that blocks helping a fellow man if it means their wealth is impacted.
Fast: School choice as well, for those who want it. Set a minimum amount of school tax for those who chose not to utilize the public schools. This amount will go towards upkeep maintenance of the school facilities.
Bystander: Agree to disagree, but the difference is clear in my mind on the topic of racism and low income housing. Liberals support it, but not in their towns, and if other towns like a blue collar town opposes it, those Liberals scream that those people are racist.
Republicans for the most part don’t want low income housing for the reasons I previously stated. They don’t try and hide it. It’s an uncomfortable topic for Liberals and they don’t want to talk about it, but I have seen and heard it multiple times over the years. I have good friends of mine who are proud Liberals, but no low income housing in their towns. Perhaps they should just say nothing on the topic.
Does it take a lot of effort to be a caricature? The number of teachers overall wouldn’t change much, if at all, with regionalizing school districts.
Fast Eddie says:
April 8, 2021 at 1:47 pm
Disband the school unions. Better yet, dismember the school unions.
Joyce: It would eliminate the multiple school principals and vice principals and superintendents.
3B – re: “The state government should force regionalization”
Funny you mention that it started and died with the Corzine administration. There was a push to start shared services between towns, as a way to cut expenses. Big announcements and political fanfare studies were done and money was spent. Someone I know was appointed the Director for it in haughty Bergen County.
They tried but it just did not work, they could not ever get the DPW to share snow shovels in the Summer, or lawn tractors in the winter.
There is no political will to force it. Gov Murphy is running on a re-election platform of everyone gets a pony and pension this year.
I will happily eat my words if the school administrators are in the teacher’s unions.
3b says:
April 8, 2021 at 2:07 pm
Joyce: It would eliminate the multiple school principals and vice principals and superintendents.
Should we start a Go Fund Me?
Bill Hwang Had $20 Billion, Then Lost It All in Two Days
“Before he lost it all—all $20 billion—Bill Hwang was the greatest trader you’d never heard of.
Starting in 2013, he parlayed more than $200 million left over from his shuttered hedge fund into a mind-boggling fortune by betting on stocks. Had he folded his hand in early March and cashed in, Hwang, 57, would have stood out among the world’s billionaires. There are richer men and women, of course, but their money is mostly tied up in businesses, real estate, complex investments, sports teams, and artwork. Hwang’s $20 billion net worth was almost as liquid as a government stimulus check. And then, in two short days, it was gone.”
https://www.bloomberg.com/news/features/2021-04-08/how-bill-hwang-of-archegos-capital-lost-20-billion-in-two-days
Joyce: I was not talking about unions, but cost savings.
We need vaccines screamed the teacher’s unions!! They got vaccines. We need $200 billion in stimmy money!! Check. No, it needs to be fast-tracked now!! Check. We need more money for ‘rona testing!! Okay, here’s $12 billion. Change that distance back to six feet or we’ll not teach!! Okay.
Meanwhile, private and parochial school kids have been in the classroom the whole time. Public school muppets are now two years behind (even more, nominally speaking as public schools are… well… public) as fat Karen and fat Ken gorge on their tax-enriched “teacher” salaries.
And the answer is: Buggy whip companies… newspapers… teacher’s unions…
The one positive of Covid is that it exposed teacher’s unions for what they are; vulture capitalists seeking to extort one last payday from the tax-paying carcass.
Understood and I agree. I was responding to Gary, who is now apparently ranting about a lot of stuff. Silly me, I thought he was talking about what seemed like the current topic of regionalization.
3b says:
April 8, 2021 at 2:22 pm
Joyce: I was not talking about unions, but cost savings.
Someone from the local school board was just outed as a s3x offender. Now that the state is sanctioning s3xual grooming of young children I think we’re going to see more of that. All the school periphery is going to be attracting predators.
Gary,
Most of the schools around here have closed for Covid. Bosco lead the the last shutdown.
Just like the public schools, the kids want to party.
Lots of Welfare Queen vibes in here around Low Income Housing.
The income limits are $68K for COAH. I have a friend who is in COAH housing in one of those North Bergan TONY towns. Had a nice job at one of the accountancy recruitment firms. Not great money, but with the wife at home with the small kids, they were making it work. There were are lot of the six figure Spreadsheet Jockeys that were his best friend. When they got canned from the firm when the Finance Department was outsourced to India, he could hook them up with some nice contract work while they were looking for the next FT gig.
I would love to see a lot more COAH housing all over this area.
Public school bashing is passé.
Fab: I don’t recall seeing any welfare queen vibes on the blog today. In speaking for myself I have no problem with low/moderate affordable housing. I just think it should not be confined to the non wealthy towns. And the fact remains, there are many Liberals, and I know quite a few, and that’s how they identify, who don’t want that type of housing in their towns.
Wow I dropped 3 different lines with all kinds of different baits into the water today and no bites.
1) Paddle Hills a Wayne Community
2) Clifton Fleecing him for additional taxes
3) Bill Hwang (Cathy Woods) article from Bloomberg
No bites today, perhaps he is out on vacation or god forbid sedated and intubated.
3b
The bus stop argument is a big WQ vibe.
The All Liberals don’t want it in their back yard is fallacious. The reality is that Saddle River council which is solidly R (the town went to Donnie 60:40) went to court to fight it. That does not mean all R’s are against it. I know a lot of R’s who are quite happy to have COAH in their towns I know a lot that are against it as well.
Fab: No the bus stop comment is not a WQ vibe. That comment bus, train, commute various ways it’s been said, has been said to me by a lot of friends of mine who proudly identify as Liberals. As well I never said all, but I am sure there are many, and again I know quite a few of them. How many Liberals overall in the state or country who knows, but certainly a lot more than you would acknowledge. At the end of the day, there are Liberals who are racists, uncomfortable as that might be for you to acknowledge.