From the Star Ledger:
Jersey City slams $1,600 school tax hike, but education group says sides ‘need to figure how to make that work’
The Fulop administration slammed the Jersey City Board of Education for its $1,600-per-average-homeowner tax hike in next year’s budget, but an education advocacy group says the city and the school board need to “figure out how to make that work.”
The BOE struggled to pass in a 5-4 vote its nearly $1 billion budget as it trimmed the school tax in the 2022-23 budget from $2,400 to $1,600 a year in additional school taxes. The increase comes one year after the district — gashed by steep cuts in state aid — raised taxes by $993 to the average homeowner last year.
City spokeswoman Kimberly Wallace-Scalcione said Interim Superintendent Norma Fernandez and the school board are “wrong” for raising school taxes once again.
Education Law Center Research Director Danielle Fairre said even with the tax increase, the school district is still $100 million below its “local fair share,” the amount the state believes local taxpayers should kick in for their school district’s budget. She said the Jersey City district should not look to the state for help.
“The pace at which Jersey City is now expected to make up for the years of underfunding their local obligation may be unfair or unrealistic,” Fairre said. “We would support other creative solutions between the city and the BOE, but the fact is that the students in JCPS deserve adequate funding and resources.
‘The city and the district need to figure out how to make that work.”
Wallace-Scalcione said the district has “bloated salaries in their central office and have not looked at any common-sense changes that have been recommended to them for years.”
“The big question for Jersey City residents is over the last few years, where Jersey City residents have put thousands more into the schools by the Board of Education raising taxes, have the schools in Jersey City showed any meaningful progress or reform for that money?” Wallace-Scalcione said. “Sadly, the answer is no.”
About time they paid their “fair share”.
Fairre added that the “difficult truth” is Jersey City has among the lowest tax rates in the state. She said Jersey City has ranked between 50th and 90th lowest equalized total tax rates for the past five years, out of 566 municipalities.
Fairre said in 2021, the city’s school total tax rate (1.402) was just 60% of the statewide average (2.283).
“The big question for Jersey City residents is over the last few years, where Jersey City residents have put thousands more into the schools by the Board of Education raising taxes, have the schools in Jersey City showed any meaningful progress or reform for that money?” Wallace-Scalcione said. “Sadly, the answer is no.”
3rd grade teachers should not be pulling down 6-digit salaries… nor get their equally bloated pensions sent to them when they move to South Carolina. It’s for the children, until it’s not. 2/3 of your property taxes are pilfered by school boards while private and Catholic schools do a better job educating at a fraction of the price.
My words may not be as debonair as some here but you’ll be hard-pressed to see a lot of typos. Why? Catholic school education. I feel for those in the public school system eager to learn or studious in their ways only to be surrounded by germ-riddled criminals in the making.
Just when you thought we’d have permanent daylight savings, it’s dead now.
NJ governments and public school boards operate something like Brewsters Millions.
https://www.youtube.com/watch?v=c35RsjYzAhY
America, what a country!
And do you notice that hardly no one is paying attention to the Jumanji Brown Jackson confirmation hearings? It’s because the media hasn’t turned it into a public flaying displayed on every live media network using super bowl coverage-type resources and fake criers accusing a guy of gang r.ape.
I listened to her speech, I thought she came across as pretty down-to-earth and genuine. Undoubtedly qualified. Seems very even keeled compared to others. She comes from a family of public school teachers and police officers, and her brother did two tours in the Middle East, which should all be pretty comforting to the right. Strong sense of traditional family. Prototypically American. Hardly seems like an activist jurist. Hell, she’s related to Paul Ryan. Republicans should be very happy with this pick, it could have been far worse, which is also why there isn’t much controversy around this one.
From CNBC:
Mortgage rates are surging faster than expected, prompting economists to lower their home sales forecasts
The average rate on the popular 30-year fixed mortgage hit 4.72% on Tuesday, moving 26 basis points higher since just Friday, according to Mortgage News Daily.
As a result of the recent spike in rates, economists are now lowering their home sales forecasts for this year.
Most estimates at the end of last year had the average 30-year mortgage rate hitting 4.5% by the close of 2022, but the war in Ukraine, rising oil prices and inflation have all lit a fire under interest rates. At this time in 2021, rates were about 3.45%
A shift in the policy outlook from the Federal Reserve, suggesting far more rate increases than expected, is pushing bond yields higher. The 30-year fixed mortgage loosely follows the yield on the 10-year U.S. Treasury, which is now at the highest level since May 2019.
“Rates have a small chance to top out before hitting 5% and a good chance of topping out before hitting 6%,” said Matthew Graham, chief operating officer at Mortgage News Daily. “It is a rapidly moving target in this environment, where we legitimately and unexpectedly find ourselves needing to be concerned with inflation for the first time since the 1980s.”
Hardly seems like an activist jurist.
And O’Biden seems to be a president.
Hell, she’s related to Paul Ryan.
I might be distantly related to Nancy Pelosi and we’re like oil and water… or maybe gasoline and matches. See my point?
So Biden is going to the emergency NATO meeting the a G7 meeting and then onto Poland on Friday. New sanctions against Russia to be announced. What is left to ban besides oil and gas?
Will there be a secret photo OP at the border with Zelenskyy? That would be ballsy move to be in range of the Russian cruise missiles, that hypersonic one could be there very quickly.
Pretty sure they didn’t want him anywhere near Poland.
But he looks like a coward when the EEU prime ministers headed straight into f*cking Kyiv. Sending #2 the other week was clearly a mistake.
6 percent mortgage rates? That’s going to hurt?
Harris rambling on yesterday about the passage of time, no idea what she was talking about, not that she did either.
How much money can the federal government save if we just get rid of the vice-president position entirely? Looking at the position from a process improvement perspective, it seems mostly redundant.
Grim: Get rid of VP spot and one 6 year term for President.
Woman:
noun, plural wom·en [wim-in].
an adult female person.Compare man (def. 1), girl (def. 1).
That person being questioned yesterday to fill the seat on the Supreme Court didn’t know the definition of a woman. Translation: Here’s a rubber stamp; press it on this paper when we tell you.
The mortgage rates are going to do nothing to make houses affordable. All it will do is slow down the economy as people refuse to sell and buy at much higher rates. You will not be finding any cheap homes, unless you have connections to get the very limited deals available before the other vultures. All you are going to see is sales go down.
At the end of the day, it seems affordable housing was an anomaly in the 20th century. Boomers and their parents were in a unique era. Throughout history, the wealthy owned the land, and it seems like it’s returning to the mean not for just the U.S., but for the entire world. Prime real estate will never become affordable again unless there is some crazy revolution that disrupts the current economic system and restarts it.
No one is going to take that job if you don’t eventually make 6 figures. At the end of the day, there is no way we can implement a Catholic School based pay system for the entire student population in this state. There are not enough people that will work for that cheap. For god’s sake, they had to raise the pay of substitutes to $250 dollars or more per day to get substitutes right now. Wake up.
Fast Eddie says:
March 23, 2022 at 6:40 am
“The big question for Jersey City residents is over the last few years, where Jersey City residents have put thousands more into the schools by the Board of Education raising taxes, have the schools in Jersey City showed any meaningful progress or reform for that money?” Wallace-Scalcione said. “Sadly, the answer is no.”
3rd grade teachers should not be pulling down 6-digit salaries… nor get their equally bloated pensions sent to them when they move to South Carolina. It’s for the children, until it’s not. 2/3 of your property taxes are pilfered by school boards while private and Catholic schools do a better job educating at a fraction of the price.
That’s right, substitutes make more than catholic school teachers. Catholic schools live off people that want to give back to the Catholic community… simple as that.
Blumpy is right on Catholic schools btu wrong on market. Can you not connect the insane free liquidity has led to big corps buying millions of homes thus competing against traditional buyers. Stop that and there is plenty of housing to go around. The govt willl have to step in with legislation that level field against these corps. It has to stop as rates blow up.
Bystander,
That’s my thesis though, land ownership is returning to the historical mean….going to the wealthy. The investor class is the wealthy class. Affordable housing is dead…
The poor and lower middle class can’t compete with investors who want to collect rent.
On an 800K 3loan, a 4% to 6% increase in the interest rate is an extra 1K per month.
How much do you think a 2% increase will hurt housing right now? Now imagine a 6 to 8% increase. 2K more per month to the bank (not principle) is ludicrous. Would stop single family housing price growth around here in it’s tracks.
You gave it all away in 2020 bailout to save the wealthy. Now they will have to save the poor by taking it away via legislation or taxation. No other way. Increasing the pie sold by Rs is pure BS philosophy that has failed this country for 40 years. It is pure debt accumulation.
3B – Taking about 6% mortgage rates.
The government and banks don’t just have printing presses, they have furnaces too, and right now it’s time to shut down the printing presses and fire up the furnaces.
But anyway let’s cut to the bottom line. Banks lend reserves and really the idea here is is a multiplier of 10x for every dollar in reserve. Banks are awash with huge excess reserves, 3.8 Trillion. So effectively they can lend into existence 38 trillion into the markets today.
https://fred.stlouisfed.org/series/TOTRESNS
This “excess” supply of money and the loans created with it is what raises the demand for goods and the prices of goods, it part of creating the inflation that we are seeing TODAY that 14 years of Fed Policy has finally finally created.
Only way to for the Fed to actually drain the excess liquidity to tame the inflation they created from the system is to drain the excess reserves, but how do BANKS raising the cost of borrowing drain these reserves? It doesn’t all it does in lower the demand for for bank loans for new and used homes and increase the interest paid on mortgage bonds so that more investors will buy them.
How is decreasing mortgages going to slow inflation in food and other essentials? I don’t see it happening soon even if you factor in a big decrease in oil prices.
Problem is, the Dems support the rich now too. Whoever is willing to pay their campaign bills and vacation costs gets the rules written in their favor. I just read yesterday about Pelosi cashing in of a tremendous amount of Tesla options. They are all immoral.
Increasing the pie sold by Rs is pure BS philosophy that has failed this country for 40 years.
And yet, we’re told by the bleeding hearts that the market performs better when a democrat is in office. It must be anomalies.
Juice,
Inflation hurts the poor much more than the rich. I think inflation wins. If and when the market collapses due to interest rate increases (and the slowing economy from significantly less spending), Powell will immediately stop raising interest rates and will probably turn back to cutting them.
Whoever is willing to pay their campaign bills and vacation costs gets the rules written in their favor.
And whoever supplies underage girls for Senator Menendez.
In other news. Pfizer made $37,000,000,000 off of it’s Covid vaccine in 2021. Nothing to see there.
That too Gary.
Faster Eddie says:
March 23, 2022 at 7:59 am
“And O’Biden seems to be a president.”
If you think SlowJoe has been a disaster so far — and he has — wait until we get the details on the new Iran deal. The Revolutionary Guard, free from sanctions and terrorist designation, and funded with the mullah’s new oil riches, are going to have a hard time figuring out where to cause trouble first. Oy vey!
https://www.bloombergquint.com/gadfly/the-u-s-risks-paying-too-high-a-price-for-a-nuclear-deal-with-iran
Disagree. The confirmation is a given. The court is 6-2 conservative. The R are going to wipe the floor in Nov. No reason to contest. All downside.
grim says:
March 23, 2022 at 7:14 am
Republicans should be very happy with this pick, it could have been far worse, which is also why there isn’t much controversy around this one
Bystander: I remember years ago, in the late 80s so called real estate experts were saying a whole generation of young people will never be home owners, and prices will never go down. Of course they were wrong and wrong again. Massive pumping of money into the economy inflated housing and the stock market. There will be plenty of houses for sale going forward, still a lot of senior citizens sitting in houses that will eventually become available for sale. This ridiculous belief that the Fed is going to engineer a soft landing is nonsense. Jerome says it was done in 1965, 1984, and 1994. I can’t believe he would compare now to those times , and the debt/ leverage levels of then vs now. The party is over.
Enjoy your politics Eddie. I know secretly you’d like to be taking orange Julius in the be-hind.
Confirmation hearings are a joke and should not even take place. Just count the senate and move on. At this point, both parties would appoint Maury Povich, as long as he registered with the party with the advantage in the Senate.
Lib: Powell will turn back to cutting them I agree, after there is significant unavoidable damage to the economy. However, the process will have started and the downturn will continue until the excess is wrung our of the economy. The lower rates will be forward looking for once the economy starts to recover. There will be no soft landing.
9:11 Cath-o-lick schools are great Iffn you want you child inducted into sexual shenanigans with elderly priests. They need live too apparently.
It’s for G-d of course …
3b says:
March 23, 2022 at 9:47 am
“This ridiculous belief that the Fed is going to engineer a soft landing is nonsense.”
Outstanding article which introduces the author’s informal ‘misery’ index — highlights the state we’re in where investment assets are flat-lining/declining while commodities are skyrocketing. And his point as to the silliness of thinking that the Fed is going to curb inflation running at ~8% by slowly raising rates to maybe 3% is spot on.
https://www.bloomberg.com/opinion/articles/2022-03-23/personal-finance-consumer-despair-is-probably-worse-than-we-realize
Bystander: I agree on the public vs Catholic school pay gap etc That being said I think people should have school choice and not be locked in by a public school monopoly.
Ex: Priests and nuns are pretty much gone from Catholic schools and parents have a lot for say and influence in how Catholic schools are run today.
As for sexual abuse, it was absolutely horrific what went on and for so long. However, they have been multiple instances of sexual abuse in NJ public schools over the last two years, many of them are female teachers now which is unusual, but different world now.
Adding to my previous post…
I think retirement is also returning to the mean in human history. Last century was an anomaly where everyone got to retire. Now, half of the population will never get to retire. Only the well off middle class and upper class will get to retire. 1950s to 2000 was a special time to be alive.
How do you pay for school choice? What happens when everyone wants to go to the same school? Esp when it comes to transportation…costs will be significant. I’m a firm believer in going to your local school in the name off efficiency. It’s too expensive to go down the school choice road.
3b says:
March 23, 2022 at 9:52 am
Bystander: I agree on the public vs Catholic school pay gap etc That being said I think people should have school choice and not be locked in by a public school monopoly.
Small: The Bloomberg article is spot on.
Pumps: The people that want to pay for Catholic or any other religious or private school will pay for it. If that’s the route they choose they should not have to pay the school portion of their property taxes. I believe in school choice if that’s what people want.
3b,
Can’t have them both. You either have community based public schooling or you don’t.
If we go down the path you propose, you will end up exactly with what you are against. Good private schools that rich go to, and underperforming public schools filled with the poor.
I think Judge Jackson is a great pick and will be good for the court, well that is until social media goes crazy because she votes or writes an opinion that well is contradictory to the far left beliefs but still aligned with current law.
Interesting job btw, lifetime appointment and summers off. 12 days a month of official responsibilities and well the rest of the time reading 130 court petitions every week.
Pumps if you have been paying attention there is a court case that may break up “underperforming public schools”. It will be years however the wheels move slowly…..
https://gothamist.com/news/court-weighs-potentially-landmark-nj-school-segregation-case
Juice,
It’s truly a waste of time. The schools are not the problem, it’s the student population that drags down the scores because they simply do not take their education as seriously as other cultures. If this was not the case, how are the Indian kids at my school going to IVY league schools and becoming doctors? How? I thought it’s a failing school, yet somehow these kids are excelling when it comes to learning.
Politics is a bitch. It’s political suicide to blame the culture and parents of said failing students. It’s much easier to blame the school and teachers. Don’t for the political bs.
Yes, the reason urban students are doing worse in comparison to their suburban counterparts is because of the school and teachers in the urban schools. LMFAO.
Right, it has nothing to do with the work ethic and level of respect for education of the failing student population. Comedy hour. Just blame the teachers. Those evil teachers made those kids failures. Tar and feather them! Hang them!
Pumps – re: “It’s political suicide to blame ”
The penalty for blasphemy is stoning.. Leviticus 24:13–16
When habitat for humanity builds brand new houses and gives it away to the urban poor. Those houses are destroyed within 3 years. Should we blame habitat for humanity for this? It’s the same idea when you blame the school and teachers. It’s the community, and they should own it instead of blaming and pointing the finger.
Why are urban streets littered with garbage? Why do we have to hire DPW workers to clean up urban parks every morning? Is that the teacher’s fault too? Damn teachers, can’t even teach their students how to clean up after themselves and respect their community. Those teachers should be fired.
Enjoy your politics Eddie. I know secretly you’d like to be taking orange Julius in the be-hind.
Cath-o-lick schools are great Iffn you want you child inducted into sexual shenanigans with elderly priests. They need live too apparently.
It’s for G-d of course …
When your team is getting trashed, no wit to dispense, no ideas to introduce, nothing tangible to display, the only thing left is to blither, jangle and yak like a chuckleheaded goat.
Re: my quote that your media believes there are five US Senators who are a Russian sleeper cell…
“I think you mean the 8 senators that went over in 2018 are getting referred to as a “Fifth Column”…So when Podestas Emails were hacked I said in here the GOP were hacked as well…So how many of those senators Chief of Staffs said to their boss…go to Moscow…Vlad called them and stood them up to show whose their Daddy!”
I thought your rantings were mostly reinvestor101 type satire, for amusement.
I see instead you are actually a true believer.
Yeah, we’re done here. Please do punch in sometime though and let us know what color the sky is in your world….amazing an adult human propagates this crap.
I just bet a close friend of mind that the R’s will be in full control in 2024. I will be in full PURA VIDA! This country is going back to the dark ages. If I was black, I would see if Africa needs any slaves.
The Great Pumpkin says:
March 23, 2022 at 9:58 am
I think retirement is also returning to the mean in human history. Last century was an anomaly where everyone got to retire. Now, half of the population will never get to retire.
I actually agree with pumpkin on this, go to your local Shop Rite or Quick Check and you will see seniors in their 70’s at the registers, I have a neighbor 85 who is still working everyday, in our housing complex are teachers who have been retired since they turned 55. It is disgusting to see the public workers living the life of Reilly while others are indentured slaves. Yet our politicians want to give free education and reparations to our BLM.
On another note, having difficulty walking , went to orthopedic doctor (who sent me for MRI’s). Turns out I have four herniated discs and need knee replaced… hip is also in question. Maybe I can lean on Phoenix for help. I may be forced into retirement.
10:41 riiiight. Short Bus refugee
10:27 shhhhhh it’s the quiet part. The smart kids at your school are being rewarded for simply surviving. It’s tough in the ghetto.
Back to the war.
I mentioned this previously. The Ukrainians have some recently developed laser guided Artillery, “Kvitnyk” 152 mm very accurate. Here it is in action.
https://twitter.com/chiquivelasquez/status/1506641778593583106
More on the home grown design.
https://www.youtube.com/watch?v=FL8hmnW0jwE
Lib,
Still going to buy in Las Vegas? If so, when? Can you stay in PR without traveling back to the staes for 2-3 years at a time? Precitions on who is potus in ’24?
Jim,
That’s rough, hope they are able to relieve the pain.
Nomad. Trump all the way baby. Just look at the clown crew here. You know. The election was stolen.
Costa Rica has extremely ExPat friendly rules. Especially if you are contributing to the caja. It’s an easy google.
Lib: If Trump wins, it’s all over. We really will have a civil war. The Dems have only themselves to blame picking Biden/ Harris. After 4 years of Trump madness that’s all they could offer to the American people.
Blumpy,
3b and I have said this many times..it is the two income trap that has eroded the educational system. Bloated school programs supporting early drop off and post-school care. Nannies raising kids all so bloviating house rich idiots can afford their $1m home,25k tax bill. Parenting is a full time job for at least first 13 years. Many can’t pull off good parenting with both working. Kids are not stupid. They see the cracks in distracted parenting and exploit it. They also get ingrained sense that parents don’t care and lose themselves in TV, internet or video games. Off to school now with nanny. Daddy needs new M3 and Mommy wants a 200K redo into French farmhouse kitchen that she never uses.
3B,
I don’t think it comes to violence. Honestly. But forget the leftwing media. Trump will have to snail mail the country to share his actions with everyone. He may not want to slow the post office down any further. :P
Much like the Left is moving too extremely. So will the Right overshoot. Especially with no checks or balances in place. The wealthy are salivating as I type this. The freshwater fish, not so much.
Bystander,
Surely you realize that kids living in $1m homes aren’t the key demographic problem for the educational system?
I bet Pumpkin would love to have some spoiled brats that can read, write, and do math for a change, rather than the crack babies he’s dealing with.
Bystander: Very true. I would say perhaps not the first 13 years , but at least until the children are in the first grade. I feel for the young parents who are starting out who would like the opportunity to stay home at least for the first few years, but can’t as they paid 500k for a crap box with a 12k a year property tax bill.
Then there are the others who want the lifestyle and have to keep up with the Jones, and so the kitchen revamp to store take our menus, and the 7000.00 outdoor furniture set.
Lib: You May be right on the violence part but I am skeptical.
No one,
I get it. I think the poor, single mother struggling households have existed for generations. Throw all Abbott money you want but without household/formation stabilization then it will continue. The $1m (or middle class 500k with two working; does not matter) was just explanation of new attitude where kids of privilege are also troubled, not engaging and schools are under pressure to ‘sweep them through’ or ‘support more’ bc mommy and daddy are working and not available physically or emotionally able to deal.
Throw all Abbott money you want but without household/formation stabilization then it will continue.
Amen.
This practice of at home nanny is becoming much more commonplace. In just the past 3 years, we’ve had 2 families move in, both parents working full time (at home mind you). They hire a foreigner to look after their kids. It’s not just the house, it’s also the $250k loans they take out for their bachelors and masters. These people are swimming in debt up to their eyeballs.
“Throw all Abbott money you want but without household/formation stabilization then it will continue.
Amen.”
..and the solution is to ensure that black people can double dip system, create no-show jobs and hire entire families via nepotism and generally pilfer the system that white families have enjoyed for generations.
You all see that Pelosi Tesla option exercise yesterday? All major indexes are down. Tesla is up 4.2%. Forget Cramer. When does Pelosi start her own finance show. She’s like Midas!
BRT: I have seen it too with the in home Nannies; I just shake my head. One paycheck goes and it’s all over, and the older they get, the more vulnerable they become to layoffs. I don’t know how they sleep at night. Then too there is the lawn service, for a postage stamp size piece of property. Throw in the F150 and the Audi SUV and it’s debt and more debt. I wonder how many are maximizing their 401k contributions? I saw something from Fidelity yesterday where they said the majority of people who switched jobs last year cashed out their 401ks.
3B,
I see it all of the time too. I constantly try to convince Gator that we are probably more well off than most of our neighbors, but she just sees the fancy kitchens and cars. Lord knows, they are all leveraged up to the moon with debt. I’m almost done paying off two mortgages and carry no other debt. I could easily buy three of those homes cash.
Had a few repairs (finally) on our two Mazdas, both at 120K. The CX-9 needed new tierods and ends. The 6 needed a new fuel pump as the seals began leaking. All this damn road salt. Not bad, for the first two mechanical issues on either car.
Been eyeing the KIA Telluride with the Captain seats. Come on supply chain. Ease up already.
The Telluride is nice, that was our #2 pick after the Subaru Ascent. We ended up walking out of the dealer because they were so god damned frustrating. Felt like I needed to take a shower after that place.
We’re loving the Ascent though – and love the captains seats in the second row. There are actually very few SUVs that have them, and most have them as an upcharge option (that’s never available on the lot – Honda Pilot for example).
11:49 old M3….but I feel ya. Kids are going to emerge from their last few years either ready and willing or completely paralyzed. The “achievement gap” is profound.
If you managed to parent a decent kid through all off this insanity: congratulations.
The second row captains chairs remind me of the old Chevy conversion vans that always had em.
Dealers really should offer airbrushing as an option. Would have went with the flames, pegasus, chick with the sword.
FWIW – Subaru over engineer their stuff.
Expect my Outback to run 4 ever and for any terrain the car is perfect!
Lib: I am sure Gator knows that as well. As for the kitchens I don’t get it, I would say many of these people don’t cook on any kind of regular basis, and certainly not to the extent that warrants those kinds of kitchens. And in 5 years they are considered dated by those who determine such things and many Americans blindly follow the latest trend. I was looking at the Telluride as well , really liked it, but won’t pay what they are asking now. I ended up buying our leased vehicle, which I leased 3 years ago as I needed a car quick and did not have time to research. My 21 year old Lexus finally died, the steering is shot, not worth repairing. We just got a 15 year old Subaru Outback from a family member who can no longer drive. The car looks brand new, especially on the inside. It only has 50k on it, so that’s my new car. Will look at the Telluride again when the madness subsides for my wife.
Those TESLA calls were long dated bought in Dec 2020, when TESLA was trading around $660, option strike price was $500 there was no intrinsic value at the time.
The stock rose again heck 33% since last week, since the German Plant was finally approved and the cars started rolling off.
I don’t think anything Paul Pelosi does is based on any kind of insider info, these cannot be anything but long risk talking. There would be no legislation even in the pipeline at the time of the purchase that would affect Tesla long term from 2020 as a new congress would be started after the election in 2021 with new legislation.
He is good for sure, he made a ton on Google options as well. Man knows his stuff I doubt anything he does is based on his wife’s knowledge of tech and automobiles. Perhapsjust mirror his trades? Seems the law was updated from once a year to within 45 days of purchase or sale.
Perhaps just mirror his trades?
Ha,
KIA dealers are pure ghetto. Gotta go with the Captain Cheapo option. Offer them $500 profit and tell them what you are going to pay. Then listen to their bullshit, “that’s impossible,” schpiel. Then go to leave, then work with the sales manager, then get the car at the exact price you quoted. Though, this won’t work during a shortage.
I remember at the Mazda dealer when I was buying my 6. The salesman says,”You won’t walk away over $99.” I said, you won’t give up an easy $500 profit over $99.” We then walked. He ran out to our car while we were driving away and caved. When he sent us to the finance guy, he told him not to even bother trying to sell us anything. The guy did anyway. I promptly asked him to remove the etching fee. He then stopped. Mazdas and Hyundais tend to share locations. So you get stuck with the same ghetto sales mentality. I can only imagine how many people they doop.
Juice,
I still don’t like politicians trading individual names. It’s just too easy.
..and the solution is to ensure that black people can double dip system, create no-show jobs and hire entire families via nepotism and generally pilfer the system that white families have enjoyed for generations.
We’re going to have equality even if we have to force the horse’s head under water and hold it there!!
You got it Ed..but realize that horse has drowned already. Once realization happens, we still have to drag carcass out and sell parts to glue factory.
I just found out that this school has been operating near my new hometown in Florida. The founder gave a speech to my local Republican club, and a couple of moms happened to sit at my table, talking about how much they love this school. Now they are trying to raise money to build a big new school campus, rather than squeezing into some old church buildings.
I wish I’d been able to go to a school like this, at least till high school.
https://tcasarasota.com/uncategorized/teaching-the-timeline/
If you drive ’em till they die, the Subaru Outback is supposedly among the best. The other’s not so much. It’s crazy how individual cars within the same brand have such different ratings. Mazda’s been top three for a while now, but the Mazda 3 is supposedly lousy. I wonder how accurate the reliability ratings really are. Buick is number 5 this year, but the Enclave is rated crappy.
1:44 we got the flat 6 and it’s so wonderful in terms of low end torque
I have my 4th Subaru on order…
Lib, when I bought my Mercedes at prestige in Paramus the sales rep stated he couldn’t negotiate on the car since he had another couple coming in an hour to look at it as well. I said fine let’s just move on to the white one. I really don’t care about the color. He stopped there. Onto price we went back and forth until the manager came over and said you are going to walk away from a Mercedes over $250. I said yes and reminded him it was Dec 28th and with the holidays around I may not be back or have time to run to the bank for a cashier’s check
That said when I bought my Honda, I told the rep I don’t have time I need a car this is what I ll pay. He was like ok I’m going to go back and forth to my manager and you’ll get the car sit tight. I probably could have shaved a few$ but I had other things pressing at the time
Our pathfinder needs a new transmission. Got quotes today $6,800 for a new one or $5,500 to rebuild it.
The way it is it’s worth hardly anything as trade in. Thinking of getting it rebuilt and then trading it in a year or 2 once the supply chain issues are resolved. Would get to use it and probably be able to trade it in for at least cost of transmission repair. Would like to get a hybrid sorento or Santa Fe, but they are impossible to get now and I don’t want to get a car we’re not crazy about. And getting a used car now is too pricey and would risk getting a lemon. At least I know the service history of ours.
“In other news. Pfizer made $37,000,000,000 off of it’s Covid vaccine in 2021. Nothing to see there.”
Jab, baby jab. Otherwise you’re a grandma killer.
Oh, and MRNA is going for EUA for 6mos-6yr olds….line ’em up here, roll up those shirtsleeves…..need to get going, those oligarch yachts aren’t going to be on fire sale forever.
What?! No vax for you?!
You’re killing grandma!!!!!
But, seriously, I’m so glad Grandpa Joe, Uncle Fauci, and the dynamic duo of Cuomo and Murphy had our backs….how else would I still be alive…..
2:10 Nissan trans have been crappy since the 90s.
Subaru has the CVT trans which they had to increase
warranty on that single item to 100k miles. A stand-alone
Item with its own warrantee.
Yeah there is a big Ascent trans recall coming. I believe they are expecting to replace a shitload of transmissions.
My Honda had the trans warranty extended as well.
Thinking that nobody has learned how to make a reliable CVT yet.
Ex
The original transmission went at 29k miles. This one started acting up right after the warranty ended. Will not get another car with a cvt transmission . And won’t get another Nissan. Will stick to Hyundai or get a Kia.
I loved my old ’04 Pathfinder, until it died at 60mph on the highway (that was fun). When my brother in law couldn’t figure out why it was randomly cutting out (we replaced a ton of shit, even the computer, and it wasn’t the computer), it was time for it to go. Other than that, the truck was incredibly reliable, and I went out of my way to beat the piss out of it, putting more than 50k miles a year on it. I would have kept it if not for the gremlin, I have zero patience for reliability issues that leave me stranded on the road. That’s the truck I traded in for the X3, which while beautiful, was a piece of shit – no, not shit, but so idiotically engineered it was hard to look past. Oil leaks, transmission and transfer case issues, AC issues, head gasket issues, water pump issues, etc etc etc. And the headlights that cost $1000 to change the bulbs on.
Subaru really the only brand that I’ve been constantly happy with. WRX, Legacy GT, Ascent.
“I see it all of the time too. I constantly try to convince Gator that we are probably more well off than most of our neighbors, but she just sees the fancy kitchens and cars.”
I’m sure you’re familiar with this classic, hell probably could have authored it. just gave my old hardcover copy to my youngest who, to my surprise, actually read it…
https://en.wikipedia.org/wiki/The_Millionaire_Next_Door
“You got it Ed..but realize that horse has drowned already.”
Sigh….for a brief three minutes at 12:05 Eddie and By were in complete agreement…I was so busy clicking through media to see whether worldwide peace had also broken out I missed the caveats a bit later….Still, it happened….should get the back-to-back posts printed and framed!
Just replaced the rear wheel bearing on my sons 15 Legacy, originally thought it was the brakes until I jacked it up and the whole wheel was loose. Probable save myself $500 thanks to youtube, it was a b#tch getting it off.
Caravana offered me $400 for the car in current state and $2,800 if fixed.
Blue book claims it would be worth $5,500-$6,500 as a trade in if we fixed it.
“when I bought my Mercedes…it was Dec 28th and with the holidays around…”
Learned early on to buy month end at least, quarter end even better. Did EOY once, on one of the Jeeps…freaking dealership had a whiteboard with each saleguy’s YTD performance and a vertical line drawn top to bottom for target in the sales area…two second visual to see the dealership in total was behind and which salesguy I wanted…combined with a bunch of inventory and the model year flip a couple months back it couldn’t even be called a negotiation lol. I thought they were going to kiss me on the lips just for showing up.
Sigh….for a brief three minutes at 12:05 Eddie and By were in complete agreement…
Lol. :)
Left,
Nothing is better than model year turnover, especially with a major body change. New engine and options, people don’t seem to care about except for car wonks. But it’e nearly impossible for them to sell a model when there’s another one on the floor that looks complete different. Saved over 10K on our CX9 due to this. Possibly closer to 12K. Deal was so good, Gator told her relative about it. Bastard got two trim levels higher for like 2K more than me. I was so pissed. She reminds me of it every time I look at the backup camera in my 6.
On the MND book. I am kind of a different model. Though I did max out my 401K for the first 5 or so years I was with my company, I stopped putting so much away into the 401K so I would have more to invest in my taxable accounts where I had full control. I also started learning how to take advantage of all of the venture capital funded internet commerce sites that would pay stupid amounts of money to build email lists. I think I turned ten email addresses into $2,000 worth of Travelzoo stock. Credit card rewards, dining out discounts and supermarket couponing probably saved me close to 10K a year as well. There are still some diamonds to be mined out there, but they are much harder to find than they used to be.
An interesting aside, I waited until I was well into my 30s to get married. I always wanted to be financially secure before I had kids. I figured it would be so much easier if I didn’t have to live check to check to meet the costs of raising kids. And it certainly has been relatively stress free, even with the problems the D has had. But what I didn’t calculate was that as my salary creeped up over the years, when I should be saving massive amounts of money for retirement at my age, I’m still paying for my kids making it impossible. Praise Jesus I put so much in my 401K early. Though I’m not saving much now, the compounding in my retirement accounts are worth way more than any amount I could possibly be saving. If I had not loaded up early, my wait until being financially secure kid rearing strategy might have failed miserably (due to D’s sickness, mainly).
My theory is they buy the options, have some sort of slush fund pipeline mechanism, and have wall st. bid it up so they can flip it. It’s the new kickback.
You’d be crazy to trade a car in right now. After selling Grandma’s car in 5 minutes on Monday, and handing her 6 grand in 100s with absolutely zero effort on my part. The dealership was going to give her $3000, they thought she could easily get $5000. I easily got 6, and based on how fast my phone blew up, I could have probably got $500 more.
Found a place that will install a remanufactured transmission for $4,900 with a 12 month unlimited mile warranty. Will go that route if they can’t repair current transmission and then ditch it before the warranty expires.
I’m thinking we can drive the car for 9 months to a year and then trade it in for more than cost of the repair. I would not want to sell this car to an individual. Would be on its 3rd transmission with very high mileage.
Replacement automatic transmissions are rarely reliable. Not sure why that is, but it’s always been that way.
re: Pathfinder Transmission.
Yikes that is some price, however just watched a video on pulling the trans, what a bear that job is never mind the rebuild part.
Here is a quick time lapse video, recommend mute for this one.
https://www.youtube.com/watch?v=Ecf0V7mL9jQ
re: “Replacement automatic transmissions are rarely reliable.”
Lots and wear and tear in other places like the drive shaft, bushing, bearings, improper installation torqueing and alignments, any little wobble will just cause everything else to wear out even quicker the second time around.
Apparently the new 2022 Pathfinder has ditched the troublesome JATCO CVTs for a newer 9-speed automatic.
https://www.theautochannel.com/news/2021/11/18/1073111-2022-nissan-pathfinder-review-by-larry-nutson.html#:~:text=New%20on%20Pathfinder%20is%20a,%2C%20Eco%2C%20Snow%20and%20Tow.
Ed and I have common ground on some things – Hollywood hypocrisy, abusive property taxes, music, fat house tour guides. Other Orange clown turds here..not so much
Was just reading up on the latest NLAW and Javelin , and Stinger missile news. Apparently our Javelin was a favorite in Afghanistan, not for taking out tanks (as there weren’t many) but for taking out Taliban. It can actually target and be fired at people too that are out of sniper range at the cost of $200,000 a shot. That is some COD video game shit.
re: “and handing her 6 grand in 100s with absolutely zero effort”
Did Granny give you a taste?
You know those cookies…. Kołaczci or something.
Some stock stuff…..Added to my ARKK short with put spreads at 65/55 strikes. Mostly a general portfolio hedge for the gains of last week.
Got stopped out of my Z longs, did not think that would happen, given the ridiculous GTC I had thrown on when I opened the position. Had a smaller put debit spread as a hedge, that stayed on.
Adjusted PYPL. Took off some put writes for a 1% gain for the portfolio, re-upped more at a lower level, so still have about 3% portfolio exposure there in the 80s. Did put a near term (May) hedge on to capture earnings.
Took off nearly all VIX, was 6-7% of portfolio, less gains there than I wanted but too much of a move with way too many potential left field events. Plus the easy money had already been made.
The DNA trade of a few days ago is printing, not banking anything there and will hold through the ER call, in at 2.94 if she clears 4.00 surely 4.50 I’ll exit most as that will be 33-50% gains…
Generally, I am probably as close to purely neutral as I’ve been in a while…due to some of the longs rolling off and more hedges. My sweet spot party zone is probably a 10-15% or so decline, making my hedges print without affecting my longs. We’ll see.
I did spend nearly all yesterday afternoon pulling apart P/Es, price action, and rates over the last forty years and four recessions…(yeah, no joke). I’m still not seeing any reasonably probable way we get out of where we are without earnings getting hit. P/Es are already too high and for static earnings share prices ought to come in…with declining earnings expectations…..
Left- re: “seeing any reasonably probable way we get out of where we are”
Yeah like last time, we will print. There is no other way my friend…..
Look reality is the banks are awash with YOUR cash. Only thing left to do is drain it via inflation.
Juice: Can’t have an economy with massive inflation.
Something’s got to give. I’m just not sure it gives until we are well into a recession. Right now, people are hiring and paying like crazy.
Re hiring like crazy- I just got a call from a friend asking me if I’d be interested in going back to work part-time (been retired for a couple of years now).
The entire company (small- maybe 40-50 people) gave up their office space and plans to be 100% work from home from now on.
Oc1: You are going to get in a lot of trouble now with that comment.
Ha ha!
3B – who said they won’t all that is going to happen is cost of borrowing will go up. More cost push inflation, prices of everything goes up. There is no shortage of money, banks have it in reserves and will be happy to lend when it’s higher than the overnight rate.
Chart says it all rates go up and up..hope you get a raise…question is how high will it go this time?
https://fred.stlouisfed.org/series/FEDFUNDS
Juice: Cost of borrowing will go up more than raises will, eventually it will just collapse. As for my raise , biggest one this year since before the financial crisis , but not enough to offset the inflation rate.
Leftwing.
“Yeah, we’re done here. Please do punch in sometime though and let us know what color the sky is in your world”
Mmkay, guess ” 52 separate shrill, easily demonstrably false, left wing talking point accusations” were not so easily demonstrably false, and you are trying to maintain some dignity as you try to hit the exit ramp on the discussion.
ATEOTH as expected All Hat, No Cattle!
Ha, as if you’ve ever responded when pressed for an on topic response.
Republican Rep. Mo Brooks of Alabama said on Wednesday that former President Donald Trump pressed him to illegally remove President Joe Biden from office and hold a new presidential election, moves that are both unconstitutional.
“President Trump asked me to rescind the 2020 elections, immediately remove Joe Biden from the White House, immediately put President Trump back in the White House, and hold a new special election for the presidency,” Brooks said in a statement responding to Trump’s withdrawal of his endorsement of Brooks’ US Senate campaign.
Ex,
Fake news.
150k on my Mazda 3 2.5 liter grand touring. Mechanically excellent. Dashboard has cracked and the amplifier broke months ago so I have no sound.
How’s the 30-yr. mortgage rates looking? Somewhere around 4.6% and climbing? It’s more than 100 basis points higher than a year ago. Buy now or be priced out forever… Suzanne researched it.
Fabs…
Your ‘media’ is a solo inveterate blogger with a suspect 27 year gap in his resume. His website endeavor prior to this substack shuttered but in his own words “Then Trump won, and we have repurposed the site for use by the Resistance.” [his upper case ‘R’].
As a reminder below are a couple of gem quotes from the article you linked.
You have enlisted with the left wing equivalent of the Hillary pizzeria-owning-child-trafficking crowd. The nutcases.
I don’t debate crazy people.
Poke me all you want, I’m not taking your bait. Have a nice day.
From your post:
“The Fourth of July Traitors, as I call them, are the eight Republicans who went to Moscow on Independence Day 2018, and came back as what, in a piece written in December 2019, I identified as a “sleeper cell.” I might have said “fifth column.”
“The KGB cultivated Donald John Trump beginning in the early 80s…Also in the mid-80s, he began to launder money for the Russian mob—his life’s work and his financial bread and butter.”
Lib/Ex,
More like Fake president, real dictator but hey Mo Brooks gets thrown off cult train but the circus keeps rolling. Those highly educated Bammy folks were really entertained by The Apprentice. Not sure why Jeff Probst does not throw his hat in ring.