How did this survive?

Posted on April 29, 2022 by grim

From NJ1015:

This Historic New Jersey Beach Mansion Has the Best View on the East Coast

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149 Responses to How did this survive?

grim says:

April 29, 2022 at 7:08 am

Couldn’t help myself posting some shore house porn as the weather gets nicer.
Fast Eddie says:

April 29, 2022 at 7:28 am

My much younger ‘cousin’ moved from Poland a few years back. He apprenticed electrical. Got a van, worked under someone else for a while, got his. He’s doing really well. Just bought a house in NJ if that means anything.

“Who needs a house out in Hackensack
Is that what you get for your money?”
leftwing says:

April 29, 2022 at 7:59 am

Fabs, I have no problem with restructuring higher education to make it more affordable and accessible. Trust me, I say that from the heart being able to produce receipts for double digit numbers of years of college recently (currently) at full fare for my own. Issue is that this debt forgiveness does nothing of the like as aside from exacerbating the problem it changes rules literally midstream for only a select few unfairly distributed.

Someone wants to take the educational hierarchy, shake it hard, and restructure it to make it work well financially for all? I’m in. Frankly, it is an opportunity screaming for the help of some retired, accomplished billionaire…wish someone like a Gates would focus on this rather than jetting all over the world.

“24 days Pumpkin-free”
BRT says:

April 29, 2022 at 8:24 am

The college’s love this scam. If you look at Rutgers, they’ve added a new gigantic building to each campus every single year. They are bleeding money left and right and it all goes to an army of administrators, consultants, and construction workers. When Corzine was governor, tuition was affordable and he cut $150 million from their funding and it was Armageddon to their budget.
Fast Eddie says:

April 29, 2022 at 8:28 am

“Nasdaq Set For Worst Month Since Nov 2008”

Thank you, Joe.
leftwing says:

April 29, 2022 at 8:30 am

Cawthorn dude needs to go. Of course not because of the sexual preference but because he appears to be the most arrogant, stupid, douche possible at age 26. Could you imagine the shitshow he would be if he were in his 40s with two decades of tenure in Congress? Or worse, Senate?

Re: the Stamford White house….breaks my heart but so typical…looks to be a wonderful time capsule of history on a once unique parcel….now, the house to right looks like a poor subdivision of the original estate, there is the beach club parking lot directly abutting it to the left, and it sits on a busy state road.

I do regret never making it this far north on the Jersey Shore, looks nice…may be worth a trip before pulling up stakes. We have someone from that town, no? Juice IIRC?
NJCoast says:

April 29, 2022 at 8:45 am

The house in Monmouth Beach has been for sale for years. It’s in the wrong town for the big spenders in the area. Elberon, Deal, Allenhurst is where the big money is going. A house in Allenhurst on the beach listed at $10,000,000 just sold for $11,500,000. A friend who bought a house in the late ‘70’s for $170,000 is in contract to sell at $14,500,000. Houses in Deal that were torn down and rebuilt in the ‘90’s are being torn down and rebuilt again. We’re all scratching our heads at where the money’s coming from. The Chera’s now own several beachfront properties. They must be pulling funds from their company, while leveraged with the banks. Properties are all in LLC’s and leveraged to the hilt, leaving the risk to the bank. They learned from their good friend Donald. I sold on the beach block in the last run up for 7x our ‘82 purchase price. Bought a property one mile inland and just sold for a tad over 2x purchase price. Crazy times here at the shore.
leftwing says:

April 29, 2022 at 9:12 am

Nice. I like the 70s friend. I want to be him….but yeah, my point exactly. The physical house with its history is worth so much more yet the micro-location totally screws it. Hurts.

Spend a fair amount of time in the ADKs…when the green movement in the 60s/70s and really took foot up there they insisted on ‘forever wild’. Went around tearing down absolutely beautiful and historical structures built entirely of indigenous materials discretely located on hundreds, if not thousands, of acres.

Thankfully, many were saved.

Shame when historical structures are muted or destroyed.
Libturd says:

April 29, 2022 at 9:35 am

“My much younger ‘cousin’ moved from Poland a few years back. He apprenticed electrical. Got a van, worked under someone else for a while, got his. He’s doing really well. Just bought a house in NJ if that means anything.”

The monthly nut might not match ours Grim, but after taxes, they make up much of the difference. I’ve paid three different van owners in cash this week. Saved me nearly $1,000. I can only imagine what it saved them.

For the past 16 years, I’ve been pushing my older kid into trades. He has no interest in it. Not because he thinks it’s below him, but he just isn’t mechanically inclined. He’s an academic for sure. His brother’s brain tumor and consequential brain damage/autism has given him a keen interest in how the brain works and he has the same psychology bug I had at the same age. Mine was more genocide focused as I’ve shared here before, as I’ve always been an eternal optimist and don’t blame individuals for their stupidity and ignorance, mainly because of lack of intent. We are not that far disconnected from the apes. Well, my son has a gift with autistic kids. The funny thing is, as a camp counselor, I did too. I was always able to make that awkward kid fit in with the popular kids, though my strategies were a bit different than my son’s. I would always make the kid aware of his awkward tics and tendencies and would often give the kid a nickname (which wouldn’t float today) related to it and then would teach the others to talk about it, ask questions and to embrace it. One kid was deathly afraid of thunder storms (this was like a 12-year old). I dubbed him, “Flash.” It was the time of the Duke’s of Hazard fame, so everyone would do their best Roscoe Peco Train Flash impressions when talking to him. All of a sudden, that kid went from ignored, to extremely popular, even if the kids were jibing him a little. His mother gave me the largest tip I ever received (more than the camp paid me) and cried to me when thanking me for getting Flash to fit in. Crazy. My son should do well being a male in a field dominated by women. I could easily see him a occupational therapist or the like. Of course, half the kids who enter college with a decided major end up working in another field. But my kid has that same eye and ear for skepticism that I do in marketing. It’s so cool when you see your genetics mix with your partners in the way your children act. Gator could barely turn a screw, but she’ll destroy me at Jeopardy and is much better with logic than I am.
James Soften says:

April 29, 2022 at 9:45 am

Imagine a basketball court next to that view <3
Phoenix says:

April 29, 2022 at 10:04 am

I’ve paid three different van owners in cash this week.

Tax evaders.

Isn’t that criminal behavior?
Libturd says:

April 29, 2022 at 10:42 am

Good one Phoenix. All I know is that I received a discount for cash. I never mentioned taxes.
The Great Pumpkin says:

April 29, 2022 at 10:47 am

LoL…gotta love the market. Going against the herd pays every single time. If you went against the market psychology in 2021 and sold…win. If go against the market this year and start buying growth…win.

“Early 2021 –

Growth stocks can’t go down… “digital transformation”

Spring 2022 –

Growths stocks are finished, they’ll never recover.”
grim says:

April 29, 2022 at 10:48 am

A friend who bought a house in the late ‘70’s for $170,000 is in contract to sell at $14,500,000.

FML
3b says:

April 29, 2022 at 10:52 am

Phoenix: It is there responsibly to pay the taxes, not the person paying for their services concern.
Libturd says:

April 29, 2022 at 10:55 am

Exactamundo.
3b says:

April 29, 2022 at 10:57 am

Jay Bloom ( never heard of him) a billionaire real estate developer, says housing market is getting hit by a perfect storm. Rising interest rates, foreclosure moratorium lifting, supply chain issues. Supply shortage of houses is artificial. Pricing unsustainable, in short going to be ugly.
leftwing says:

April 29, 2022 at 11:01 am

what about that 1099? lol.

I’m too nice….previously mentioned a significant loan to a ‘friend’ I was screwed out of….spoke to my accountant, I was deducting it in any case and apparently I could have 1099ed them on the forgiven proceeds creating not insignificant taxable income for them…decided to not add to their woes…..

ahhhh, hindsight…..
Phoenix says:

April 29, 2022 at 11:02 am

” I can only imagine what it saved them.”

Well, maybe they paid taxes on it. Or maybe not.

Lets just say maybe they didn’t. Isn’t that criminal behavior?

What is the difference if you skip 2k in taxes, or someone steals 2k from Home Depot?

You don’t pay your taxes, someone else pays more, you are stealing from them, your fellow Americans, are you not?

Of course, one could say that the way taxes are levied on individuals isn’t fair, but it is the law.

Do we pick and choose the laws we choose to follow? And how does this differ from a common criminal who does the same thing?

They arrested a ten year old child and put him in handcuffs for stealing a bag of potato chips. How is this so different?
Phoenix says:

April 29, 2022 at 11:04 am

Lib it was directed at them, not you.

You paid. It was never you that didn’t pay the taxes in my comment.
BRT says:

April 29, 2022 at 11:07 am

Student loan cancellation.

When a lot of people on this board studied, tuition rates where cheap and since then, we have seen the costs skyrocket. Here is a fun exercise. Go back and reprice your degree. What did a credit cost you back then and what is it now at your Alma Mater?

Just because you didn’t get the break, the ones coming behind you shouldn’t get the break either! This is worse than the Clarence Thomas, kick the ladder off after you have used it. This is stop the ladder being built in the first place.

When I was accepted to Med school, one of the main reasons for opting not to attend was my running of the numbers. I saw clearly the amount of accrued debt that would occur over those 4 years and how it compounds on the deferments during residency. Fast forward to today, there are a bunch of MD’s on twitter begging for cancellation. I cleared my debts in under 2 years by taking second jobs. I also opted for grad school because of the setup of tuition waive stipend for a Phd program.

As a public school teacher, I feel zero obligation to help out medical doctors drowning in debt. The same goes for any person that is not employed in the field they studied. They made their own bed…and can work their way out of it with just a little sacrifice. Instead, it’s iphones, beamers, and vacays to the Caribbean every year.
3b says:

April 29, 2022 at 11:08 am

Phoenix: That shipped sailed , it’s pick and choose now which laws a person follows.
BidenIsTheGOAT says:

April 29, 2022 at 11:13 am

Trades are fine if you need to work with your hands but they take a beating in a bad economy. That looks to be in the horizon.

This student loan bailout will probably resemble the other bailouts. The benefits will go to the institutions. Worthless loans will be made whole and schools will continue to charge exorbitant prices for worthless degrees. The risk shifts from the debtor to the dollar.
Libturd says:

April 29, 2022 at 11:13 am

Let them arrest my service person. Call it my protest of the tax code.

For the past 6 years, I’ve paid anywhere from 25 to about 40% of my income in medical costs. Every single government program, from NJ Catastrophic medical fund, to individual charities and foundations to the all Federal stimulus is based on GROSS income. Our net income, when Lisa wasn’t working, put us near the poverty line. We still didn’t qualify for any aid. Call me Jesse James. I’m fine with it. In the Court of Law, I’m guilty. In the court of common sense, no jury would find me guilty. Instead, they would probably start a GoFundMe on my behalf.

Now HERE is the REAL kicker. If I lived in about 43 other states, the D’s medical bills would have been covered 100%. Since I live in NJ, I am out nearly half a million. And I have good medical insurance. But lock me up for my service people not charging me sales tax. At the end of the year, do you tell the NJ treasury about all of your online purchases? If you don’t. Then you are no different than me. Probably not a single person does. Yet they ask the question every tax year.
Phoenix says:

April 29, 2022 at 11:14 am

“When a lot of people on this board studied, tuition rates where cheap and since then, we have seen the costs skyrocket.”

So why did the costs skyrocket? Where did that extra money go? More was paid, was more received? Or was it just generational theft?
BidenIsTheGOAT says:

April 29, 2022 at 11:17 am

Incoherent Joe is stumbling is toward a nuclear crisis and no one wants to prove what a disaster he is so we’ll just pretend it’s not the case. It’s really sick. Latest TDS symptom
Phoenix says:

April 29, 2022 at 11:19 am

“In the Court of Law, I’m guilty. In the court of common sense, no jury would find me guilty.”

Great sentence. Cause that is how it works.

I agree Lib. There is a huge difference between the law, morality and common sense.

Legally you can easily commit crimes, when morally no such crime has ever existed. And morally you can do wrong with no legal penalty assessed.

I just watched a trial about Barisone. The jury got it right. They were ready to fry him.
At least he could afford a good defense. Must have cost millions.
Phoenix says:

April 29, 2022 at 11:22 am

“Phoenix: That shipped sailed , it’s pick and choose now which laws a person follows.”

Well, those that enforce the law do the same thing. Cameras have proved that beyond a reasonable doubt. If it’s good for the goose…
Libturd says:

April 29, 2022 at 11:24 am

Phoenix,

The costs rose when the government chose to back all college loans (you know, to protect all of those IBs from collapse, because we NEED them).

The Federal Government as Creditor
Outstanding consumer debt in the U.S. reached $4.4 trillion in November 2021. That figure represents an increase of nearly $1.9 trillion since 2010.3 The main culprit is student loans, which the federal government effectively monopolized in a little-known provision of the Affordable Care Act, signed into law in 2010.4

Prior to the Affordable Care Act, a majority of student loans originated with a private lender but were guaranteed by the government, meaning taxpayers foot the bill if student borrowers default. In 2010, the Congressional Budget Office (CBO) estimated only 55% of loans fell into this category, compared to about 93% today.51

Prior to the administration of Bill Clinton, the federal government owned zero student loans, although it had been in the business of guaranteeing loans since at least 1965. Between the first year of the Clinton presidency and the last year of George W. Bush’s administration, the government slowly accumulated about $670 billion in student debt.6

Those figures have exploded since 2009. The U.S. Department of the Treasury revealed in its 2020 annual report that student loans accounted for nearly 20% of all U.S. government assets.7

The cost of federal student loan programs is widely debated. The CBO provides different estimates based on low discount rates and “fair value” discount rates.8 Some fair value estimates suggest the government loses multi-billions per year, including administrative costs.9 But another recent report said that the CBO estimates that when 2021 results are finalized, student loan programs will have generated net receipts of $1.4 billion from loans and guarantees, while also incurring $3.2 billion in administrative costs, suggesting the total result is a small loss.10 Regardless of how the costs are calculated, the implications are the same: The government does not recoup the value of the loans, putting present and future taxpayers in the position of the guarantor.
Phoenix says:

April 29, 2022 at 11:26 am

BITG,
I agree.

I just wonder, if Russia were to launch a tactical nuke at Ukraine would America really be willing to nuke the whole planet just to prove how tough it is?

Hope the boomer lays off all of that testosterone gel he is lathering on should Putin lose the rest of marbles he has left.
Libturd says:

April 29, 2022 at 11:30 am

In layman’s terms, if most of the population did not have access to loans, tuition would drop to meet the discretionary dollars that were available to go towards higher education. So why do people take out massive loans if they know they will need to pay them back? Well education is supposed to provide a return on investment. Or is that generally marketing? You would think if this was the case, then the government would not have needed to make college loans non-dischargeable in bankruptcy. Hmmmmmm. Wall Street getting richer, as always. I rub your back, you’ll rub mine. Eventually, it always returns to our government being bought by our oligarchs on Wall Street.
Phoenix says:

April 29, 2022 at 11:30 am

Lib,
I understand where the money came from, but where did it go, and what generation benefitted from this “free” money?

Is it the same generation complaining that someone else is getting a boost?

Geez NJ is still 200 Billion dollars in debt to it’s retirees. Doesn’t seem like Boomer is in any rush to pay that back.
Libturd says:

April 29, 2022 at 11:36 am

The only people who benefit from loans are those collecting the interest on it or those who use it for leverage. The rest of us need to learn to save more and not spend all of their money on fancy German cars and $1,000 stainless steel dishwashers.
Juice Box says:

April 29, 2022 at 11:39 am

NJCoast – re ” We’re all scratching our heads at where the money’s coming from”

You are correct Donald Trump is not the only player in New York real estate who has creative accountants. Wall St Money is behind their great wealth as well.

Here is how it works. Retail Rents in all the major cities worldwide. Jeff Sutton who is among the wealthiest in Deal owns of the bunch owns a bunch of the very expensive retail rents on 5th Ave for example. Many of the homes in Deal that are oceanfront are owned by New York Real Estate families. Joseph Sitt, Steve Chera etc etc etc they own most of Deal outright these days the whole damm town.

The mortgages for the commercial space have made them very rich they have been securitized and the terms and the rents can only be modified only by investor consensus. People complained about why the commercial rents in NYC for example are still so high and even with the pandemic and online ordering. People offered landlords $10,000 per month for a retail space but the landlord would rather wait to rent it and keep it empty for years because they think a $20,000-per-month tenant may appear in a year or three. It keeps the property value artificially high, and the mortgages secure. For now anyway they continue to make a ton of money thanks to Wall St securitization magic.

I am surprised we did not yet hear of a bail out of these mortgages from the Fed, the pandemic is over now but have all the rents actually returned?
3b says:

April 29, 2022 at 11:45 am

Phoenix: I don’t think this is a question of boomer vs non boomer. It’s a question of is it fair that many paid, they followed the rules , and for what vs Some will get some portion of their debt cancelled or all of it, because it’s a burden for them, although they knew a head of time the costs.

I blame a lot of parents in the suburbs for encouraging their kids to go the pricey route, for bragging rights, and how some private university in Conn, for example is almost like an Ivy League.

God forbid the kid went to Rutgers, after all the campus is ugly, or went to a local college and commuted. What will the neighbors think.

Of course some kids wanted the more expensive options as the dorms are really cool.

It’s a matter of fairness in my view simplistic as it sounds but it’s true. In the end they are going to do whatever they do with the stud loan debt. It is what it is . I think I will take a page out of Libs book from yesterday.
Juice Box says:

April 29, 2022 at 11:55 am

That whole area of Monmouth county is really a sight to see. If you really want to know what is going on take a nice long ride down to Parkway exit 117 to Rt 36 south all the way Ocean Blvd all the way to Asbury. Amazing how many massive homes and and even glass walled condos in Long Branch are being built.

Years ago a friend of mine rented a house two homes from the boardwalk in Long Branch with Frat Brothers from Monmouth U and we used to hang out down there in the summer. We would Jet Ski at 7 Presidents Park (before it was banned) and jump the surf breaking waves by day and party by night at the Old Icabods (Woody’s Ocean Grille) and other spots like Donovan’s reef or see bands at the Tradewinds night club. Tradewinds had some great bands over the years. Bruce and Bon Jovi were regulars there but it was always a stop for many rock bands. I saw the Romones, Beastie Boys, Spin Doctors, Stray Cats, and King’s X all in one summer there.
leftwing says:

April 29, 2022 at 11:58 am

“The costs rose when the government chose to back all college loans (you know, to protect all of those IBs from collapse, because we NEED them)…Wall Street getting richer, as always. I rub your back, you’ll rub mine…The only people who benefit from loans are those collecting the interest on it or those who use it for leverage.”

Wow. The above from three separate posts on the topic.

So you’ve donned the full size left wing strap-on today huh Lib….

Actually the costs and guarantees rose when the Left wanted to expand loan access to…….drum roll…….the ‘disadvantaged’, of course…..

Prior to that outside of the de minimis amount offered by a local institution that would be guaranteed any further amounts were based on creditworthiness. As that common sense, economical approach encompassed too many “-ists” the barn door was opened.

The enticement for institutions to make loans to otherwise uncreditworthy borrowers and endeavors was to have them guaranteed by the government and non-dischargeable. Otherwise no institution in its right mind would fund them, and the population so favored by the “-ists” crowd would not have access….

So, yes, you are analytically correct but directionally wrong….

Any huge transfer of wealth on student loans – be it guarantees or forgiveness for non-dischargeable loans – originates from trying to benefit the LEFT’s favored popluation, not those mean, nasty bankers….
leftwing says:

April 29, 2022 at 12:03 pm

And, as an aside, having spent the better part of three decades in the business I can assure you investment bankers would much prefer less government involvement than more….

IBs make money on completed transactions….whether it takes two weeks work or two years work the fee is fixed.

So all the incentive in the world is to pump out volume, quickly. In other words get any complexity and impediments (ie, government involvement) out of the way….

Other professional service providers – accountants, lawyers, consultants – who get paid by the hour rather than a fixed fee on closure? Less so incentivized….
Juice Box says:

April 29, 2022 at 12:05 pm

3b – “almost like an Ivy League”

Never mind IVY LEAGE….The Idea that that some kid borrowed $$$ for a Gender Studies degree from Stanford University is criminal.
3b says:

April 29, 2022 at 12:10 pm

Juice: Agreed, I was just using an example I heard when one of my kids was going to college
3b says:

April 29, 2022 at 12:14 pm

The real estate industry which has the most impact on Americans far more than Wall Street, has little to no regulation.
Libturd says:

April 29, 2022 at 12:26 pm

Yes Lefty. Sometimes my mind gets creative. Didn’t mean for it to be a left vs. right post either. Though, there is definitely a pattern of the Left enriching themselves, but making sure those not well off continue pulling the lever for them. Likewise, the right still attracts and placates the rich boomer set. Few things make boomer happier than thinking we won’t help the underprivileged. After all, Boomer thinks he made it without government help. Ignoring Medicare, Social Security, Senior Tax Freezes, etc. It’s nearly as silly as Trump making believe he was religious.
Juice Box says:

April 29, 2022 at 12:31 pm

This whole 2 Trillion dollar Tuition Bubble is the creation over the last 43 years by our Congress. It really is a unique American phenomenon simply because they don’t have the tuition bubble and massive borrowing in Europe and well that means it was not created by Wall St otherwise we would see it worldwide.

Here is what our Congress did….

1980 Law allowed parents to borrow
1992 Law eliminated income limits on who can borrow, lifted the ceiling on how much undergrads can borrow, and eliminated the limit on how much parents can borrow.
2006 Law eliminated the limit on how much grad students can borrow.

And here we are today people are clamoring for a debt forgiveness, so instead of reforming the problem with a new law that LIMITS BORROWING Biden with the swipe of a pen is going to try and undo all those LAWS HE VOTED FOR AS SENATOR because there is a mid term election coming……

God may strike me dead but I am hoping all the old boomers catch the next new strain of Covid and croak, their social and economic engineering is going to be the death of us all.
3b says:

April 29, 2022 at 12:46 pm

Juice: Don’t blame all the boomers, us tail end boomers had nothing to do with it.
Ex says:

April 29, 2022 at 12:55 pm

Just remember:

Wherever you may wander,
Wherever you may roam,
keep your eye on the donut
and not on the hole!!
leftwing says:

April 29, 2022 at 1:02 pm

Juice/Lib….agree, and zooming out the lens it makes my head spin that anyone earning a legitimate paycheck votes for fools espousing these policies….Let’s review….

Housing. It was determined that ‘access to housing’ by the ‘underprivileged’ was an issue. So the coffers are opened to encompass these people who, by definition, were not competent or responsible enough to handle the obligation. Ownership numbers exploded.

Education. It was determined that ‘access to higher education’ by the ‘underprivileged’ was an issue. So the coffers are opened to encompass these people who, by definition, were not competent or responsible enough to handle the obligation. Enrollment numbers exploded.

Not surprisingly, the results were less than optimal. These people cannot pay their obligations. But that is not the story.

The story – the horribly, insidious subplot – is that YOU are paying for them twice through the turnstile.

If you bought a house during that period or send/sent your child to university you paid more than you should have for that house/college education…supply and demand folks, don’t think we need a lesson how free and easy money raises the price of goods and services.

So, after coughing up more than you should to buy the house and pay the kids’ tuition because of this social engineering YOU now have the privilege of paying YET AGAIN, bailing out those same fools who should have never had the money to spend in the first place and who drove the costs up for YOU.

What the fuck is wrong with you people that keep voting for the party and politicians that espouse these ideas and social engineering that directly impact lifetime changing events for your family – their housing and their education?

Modern liberalism is a disease, and SJW the most virulent and deadly strain to you.
The Great Pumpkin says:

April 29, 2022 at 1:07 pm

Maybe the loan issue has to do with the govt putting loan payments on hold for 2 years. Good luck getting people to pay after giving them 2 years off. That’s probably what this is about. Govt knows they won’t be able to get them to pay it back, and now are just taking advantage of the situation to save face. Oh, we will cancel the loans that you were never going to pay back in the first place. Look like the good guy and get some votes while you are at it.
The Great Pumpkin says:

April 29, 2022 at 1:13 pm

Boom!

Put it this way, Habitat for Humanity gives away free housing. They get this brand new house, and within 3 years it’s destroyed. Why? They don’t have the work ethic or responsibility to own a home and take care of it.

As for the education discussion we had yesterday on this blog, it’s the same thing. You give these people school choice to go to Wayne instead of Paterson and guess what they will do? They will destroy the education system in Wayne and now you will be left with no good schools. Why the hell would you advocate for this?

“Housing. It was determined that ‘access to housing’ by the ‘underprivileged’ was an issue. So the coffers are opened to encompass these people who, by definition, were not competent or responsible enough to handle the obligation. Ownership numbers exploded.

Education. It was determined that ‘access to higher education’ by the ‘underprivileged’ was an issue. So the coffers are opened to encompass these people who, by definition, were not competent or responsible enough to handle the obligation. Enrollment numbers exploded.”
Bystander says:

April 29, 2022 at 1:15 pm

“Left wanted to expand loan access”

The issue is not that loan access for disadvantaged. The problem is that ‘for profit’ college and bogus on-line programs have run amok for 20 years and access federal loans. They require no education, not even SAT score. Laissez faire capitalism at its finest and both sides were handsomely rewarded.
The Great Pumpkin says:

April 29, 2022 at 1:17 pm

The same thing with affordable housing argument. Why do you want to ruin towns and neighborhoods that work hard to make it a nice place to live? Giving poor people who do not give a f/k a free ride to live in the rich town will end badly every single time. They will destroy and terrorize the neighborhood and slowly turn it into the place they came from.
chicagofinance says:

April 29, 2022 at 1:19 pm

Dedicated to leftwing:
https://www.youtube.com/watch?v=wt6YgXPBSrU
The Great Pumpkin says:

April 29, 2022 at 1:20 pm

Insanity.

Sad part, it’s being done in the name of equality. Where is the equality in effort put forth?

“So, after coughing up more than you should to buy the house and pay the kids’ tuition because of this social engineering YOU now have the privilege of paying YET AGAIN, bailing out those same fools who should have never had the money to spend in the first place and who drove the costs up for YOU.”
leftwing says:

April 29, 2022 at 1:23 pm

“The issue is not that loan access for disadvantaged. The problem is that ‘for profit’ college and bogus on-line programs have run amok for 20 years…”

Who do you think avails themselves of these situations?

The children of the posters on here?

Or the people not competent and responsible enough to get there in the first place?

Your example proves my argument….you can’t just hand money to people that have no idea what they are doing.

Let alone that you, I, and everyone else here on this blog suffer higher costs as a result and then has to bail them out.

Pure insanity.
Bystander says:

April 29, 2022 at 1:30 pm

..and Mexico will pay for the big beautiful wall..in fact the cult believes they did.

“Right. So the legislature did it starting next June because there’s going to be additional legislative action. We’ve contemplated that,” DeSantis said. “We know what we’re going to do. And so stay tuned. That will all be apparent. The bonds will be paid by Disney,
Fast Eddie says:

April 29, 2022 at 1:30 pm

What the fuck is wrong with you people that keep voting for the party and politicians that espouse these ideas and social engineering that directly impact lifetime changing events for your family – their housing and their education?

Modern liberalism is a disease, and SJW the most virulent and deadly strain to you.

Any questions?
Bystander says:

April 29, 2022 at 1:32 pm

“Or the people not competent and responsible enough to get there in the first place?”

That was a good laugh, left…except our entire consumer debt market hinges on this principal. Estates were built on gullible kids getting these loans. Corps and politicians could not run through door fast enough.
Ex says:

April 29, 2022 at 1:34 pm

There are plenty of “diseases” to go around.
Extremism in any form is bad. Modern liberalism
Gave us livable wages and healthcare for most.
Conservatism is all about protecting the status quo.
SmallGovConservative says:

April 29, 2022 at 1:40 pm

Bystander says:
April 28, 2022 at 6:53 pm
“Thank you President Biden – what a list of accomplishments…”

You forgot Joe’s most recent accomplishment — his wrapping up of this year’s Norm Crosby Malapropism award with yesterday’s disturbingly pathetic performance. Or are we in fact going to ‘accommodate the klip-klap-kleptocrat’s ill-begotten gains’? If this was just someone’s grandfather, I’d be sad. Shame on you and the other stooges for making this guy the leader of the free world — or at least what used to be the free world before he created his Ministry of Disinformation.

https://nypost.com/2022/04/29/joe-bidens-kleptocracy-gaffe-breaks-twitter/
Bystander says:

April 29, 2022 at 1:47 pm

Ex,

Extreme patriotism is also a disease. One of the features of R party, people in sh&tty jobs with no education who just don’t want to see what is really happened in this country due to corp greed. Keeping them in $7-8 an hour until recently. People who willfully cheer on their own demise because brainwashed that socialism is coming if they get a red cent via a mandate.
3b says:

April 29, 2022 at 1:53 pm

Bystander this loan forgiveness is not just going to the disadvantaged, it’s going to middle income people as well, and many who can afford to pay it off, but are simply looking to have it forgiven. Again as I said yesterday, why not eliminate the interest and pay the loans back? And on top of it, the amount forgiven won’t be subject to taxes. Service?

No wonder why people are pissed and are realizing playing by the rules are for fools.
Bystander says:

April 29, 2022 at 1:54 pm

Wow, that is the worst thing I have ever seen, Small..I mean truly top level real news. Clearly the only worse thing would be if prez said he could shoot people in streets without retribution..but only a dope would vote for someone like that.
The Great Pumpkin says:

April 29, 2022 at 1:55 pm

Boom! Finally they get it! Time to clamp down on individuals who think they can do whatever the f they want.

https://dailyvoice.com/new-jersey/hackensack/news/nj-police-can-now-pursue-stolen-vehicles-ag-says/831317/#:~:text=Police%20in%20New%20Jersey%20can,bail%20reform%20must%20be%20next.
The Great Pumpkin says:

April 29, 2022 at 1:57 pm

Just made my day….thank you for coming back to reality.
Bystander says:

April 29, 2022 at 1:58 pm

3b,

Trump printed trillions for corps who never had a loss and individuals who never lost their job. You guys have funny definitions of moral hazard. I just don’t care. It is over..we can cry and whine but our country has devolved into this system…it is corp interests. Always will be.
Mike S says:

April 29, 2022 at 2:04 pm

And yet above all – these clowns remain in office on both sides…
leftwing says:

April 29, 2022 at 2:05 pm

“Estates were built on gullible kids getting these loans. Corps and politicians could not run through door fast enough.”

So points of agreement….of course politicians, and especially those acting under the guise of ‘for the disenfranchised’ are dirt.

Corps? Let’s focus on those from your prior post, the for profit diploma mills…do you think it is just coincidence they sprang up like mushrooms immediately following the easy money provided to the ‘underprivileged’ for education?
3b says:

April 29, 2022 at 2:08 pm

Bystander: I don’t understand why you always have to view a topic through Trump, or what the Repubs do. The Dems are just as bad in handouts to big business. Biden 50 years doing it, Trump 4, so what is your point?

The topic is stud loan debt forgiveness, and why people who borrowed the money believe they should not have to pay it back, vs those who did it pay it back. What do they get? An atta boy?

Again, I don’t view this as a Repub Dem thing, I am not blinded by the politics.

The only difference between you and I is you believe the Dems are morally better when they are just as bad as the Repubs. They both blow.
Bystander says:

April 29, 2022 at 2:18 pm

Left,

I don’t see a distinction too much. Corps like Corinthian ran dozens of diploma mills colleges.
Bystander says:

April 29, 2022 at 2:21 pm

3b,

Answer the question – what is difference between printing billions and giving to people who don’t need it and “forgiving” billlions who you claim don’t need it. It is funny outrage. That is my point. The multi-millionaires and billionaires got nearly all of it yet little outrage
BRT says:

April 29, 2022 at 2:28 pm

lol

“Dr. Martin Gale was very proud of $arkk doubling down on $tdoc today…”
3b says:

April 29, 2022 at 2:29 pm

Bystander: One has nothing to do with the other. We all know the oligarchs control the government, including the Democrats.

My question remains why do some get their loans forgiven and others who paid get nothing but an atta boy? Don’t talk about trillions for corporations that own the government, bring it down people to people.

And make no mistake it won’t stop at 10k if Biden goes that route, the progressives as they call themselves will be back for more, and will probably get more. While the people who paid get nothing. That’s my point, no deflections, just that.
BidenIsTheGOAT says:

April 29, 2022 at 2:30 pm

All TDS all the time for some. Joe is playing nuclear chicken, in a country he helped to corrupt, and all some people want to talk about trump. What’s this old POS going to so if vlad decides to launch a tactical nuke. Start mumbling some gibberish about collusion is my guess. He’s now incapacitated.
BidenIsTheGOAT says:

April 29, 2022 at 2:34 pm

What about maintaining peace? There was a time pre tds when the left gave a shlt about that. Now they rather see a nuclear Holocaust than any they were wrong. Trump was better.
BRT says:

April 29, 2022 at 2:34 pm

It’s not misplaced outrage though. It hits home. I’ve listened to siblings and cousins nonstop complain about their students loans. They all live larger homes, drive nicer cars, and take more vacations than me and people that operate similarly. Same goes for friends/acquaintances. Now we are supposed to watch them get a free $50k, $100k? It’s a direct spit in the face of anyone responsible. I went to college. I keenly observed everyone else that did as well. I even taught at Rutgers. A large percentage of these kids took out those loans to go to a four year dorm vacation of drinking and doing drugs. This idea that they need to be bailed out is a joke. Eliminate the law and allow future loans to be discharged in bankruptcy again. Problem solved.

Moreover, it’s stupid, because it’s clear, go for broke, be irresponsible, you will be rewarded.
Bystander says:

April 29, 2022 at 2:42 pm

3b,

You need to stop taking my posts about Trump personally. They are directed at dopes here who claims Biden was buying votes or Ds spending other peoples money again. They all do..we are on same page. You still are not seeing what I think is answer. Student loans are personal bc we had them, kids have them, family has them..everyone has them at varying level. Hearing the word “forgiveness” bothers people. That is only difference. Taking our tax dollars and giving it to faceless billionaires is less bothersome. That is the system..embrace it.
SmallGovConservative says:

April 29, 2022 at 2:45 pm

Bystander says:
April 29, 2022 at 1:47 pm
“…don’t want to see what is really happened in this country due to corp greed…”

You probably believe Nancy Lugosi and the other incompetent Dems when they tell you that our runway Bidenflation is actually due to the evil oil companies and meat packers. Why don’t you just move to Venezuela since Chavez and Maduro have done such an effective job of ending corp greed there? What a dope!
3b says:

April 29, 2022 at 2:49 pm

BRT : Thank you, that is exactly the point I have been trying to make. It has nothing to with anything else period. You laid it out succinctly, and with the passionate anger it deserves.
JCer says:

April 29, 2022 at 3:01 pm

Yes BRT, I think that is the point, I had a friend who had 235k in student debt. Paid for undergrad and grad engineering degree entirely with loans at a private school. But the guy was living like a poor person while earning 200k a year for 5 years so he could pay it all off. Now some joker with a gender studies degree who wasn’t thinking is getting bailed out?

Anyone who spent time at university recently realizes that tuition inflation is a direct result of the excess money. University presidents are all focused on building buildings or replacing buildings when their is no need to do so. Add in what some of these academics are getting paid and it is madness. If the market was actually controlling the money rather than just allowing people to borrow when the tuition goes up, university administrators would need to make tough choices. In my experience the average university system runs with all of the efficiency of a communist country, lots of idle workers collecting a check in these systems. People lined up to pay as well.

Europe is a different animal all together because the universities are effectively part of the government. They do not have the same gleaming buildings, etc. Much more focused on the task at hand and much less willing to hand out large salaries to professors who don’t warrant it.
leftwing says:

April 29, 2022 at 3:03 pm

“I don’t see a distinction too much. Corps like Corinthian ran dozens of diploma mills colleges.”

And whose kids are going there….mine, yours, Lib’s, grim’s?

LOL.
Bystander says:

April 29, 2022 at 3:15 pm

Small with first funny one, Nancy Lugosi. I like it. You are generally a sad confused little troll. Trump-flation exists…yes. He had a small little mushroom sized economy and had to show big his printing hands were. Here we are today.

Left,

I really don’t get your point.
Boomer Remover says:

April 29, 2022 at 3:32 pm

1:47 re: extreme patriotism

It is absolutely a disease and everything you wrote is spot on. I was lost in South Amboy while on a detour last year, trying to get around yet another absurd toll. I’m driving with my wife and there are all these decrepit, soot stained hovels backed up right to some truck road, side by side with only driveways separating them. We counted multiple Trump riding victorious on a tank flags. Imagine having this little, and believing that you are so well off with one of your own representing you in the white house. Tribalism, polarization and vitriol at an all time high.

Then again, I suppose it is all relative. Yesterday, I felt like a BSD for closing out my SPY short five cents off the LOD yesterday. Today, not so much.

The caveat of past affordability applies, but I am willing to bet most if not everyone here paid their sht on time. My wife holds a $5K graduate loan balance hoping to get a spot at the trough, but I think it’s a long shot and symbolic at this point anyway.
No One says:

April 29, 2022 at 3:43 pm

Schools teaching hairdressing have a lot more diversity and inclusion than the ivy leagues.
How can you complain about a school not requiring an SAT test? Several Ivies now don’t require an SAT test because it’s allegedly racist with “disparate outcomes”.
If they forgive student debt next year, what do they tell people who paid off their debt recently? How often do they plan to forgive student debt in the future? If they forgive the debt of student who graduated last year, but not the student who graduates a year from know, what do you tell that person?
If people think that future student debt might get forgiven, does that incentivize people today to take on more debt and make minimum payments, hoping for a repeat in the future?
There’s a word that leftists love to use without ever defining it – “equity”. How does that apply to rewarding people who don’t work to repay debt, and not those that do?

Instead of randomly forgiving debt to a semi-random group of former students, wouldn’t it be a better idea to make a bigger effort at improving the structure of future affordability and effectiveness of college education? Otherwise it’s still a faulty system with a few people from the past being paid off to shut up complaining about it, and nothing really being done to stop future excess debt buildup.
BidenIsTheGOAT says:

April 29, 2022 at 3:45 pm

40-50 years ago those working class people voted Democratic and listened to Bruce Springsteen.

They voted for trump because they thought he represented them, and the elitist Springsteen crowd calls them “tribal.” That’s where we are.
Libturd says:

April 29, 2022 at 3:47 pm

“And whose kids are going there”

Funny, the only people I know who have attended these online universities all work in the public sector. Go look at the Masters the vast majority of the administration and teachers in your kid’s schools obtained. They all took these online courses to get the union guaranteed step up in salary. So it really didn’t matter what university name was on it. I honestly don’t know of a single person in the private sector who has attended one of these online programs. Many go to class at night or take classes on weekends. But not a single one does it online. Go look at your local fire or police department. Or the managerial staff at NJ Transit. All have advanced degrees from online only colleges. It’s all one big corrupt Kabul.
JCer says:

April 29, 2022 at 3:52 pm

The misguided Covid relief was a bipartisan boondoggle. When all the politicians agree you can be sure it is a “bad idea”. The issue at hand is the democrats looked at the result and decided to double down by pouring gasoline on a fire. Our policy makers on both sides refuse to do the right thing, the democrats are drunk with power after living in Trump land for 4 years and before that being deadlocked for 4 years so they are hellbent on passing legislation regardless of the misery it may cause or the potential consequences to America’s standing as a superpower.
Ex says:

April 29, 2022 at 3:53 pm

Sadly you are correct Lib. Many of these scholars will also bitch about the fact that they learned “nothing from their Masters “ which further devalues the experience.
Boomer Remover says:

April 29, 2022 at 3:54 pm

Lib — Peloton is now renting bikes for $27 per month. First, they cratered their purchase prices, a big fu to all the folks who purchased new. And now, they revealed a subscription/rental plan for software/hardware which effectively prices the bike at $27 monthly. It’s like a bunch of chimps throwing darts in HQ.

I had to do the bearings on our bike twice now, at my own cost ($40X2) and will soon need a new belt.
leftwing says:

April 29, 2022 at 3:55 pm

Hopped in some DIS on options…..pretty beaten up.
Ex says:

April 29, 2022 at 3:55 pm

One friend I had in the district “attended” an online masters for counseling and was shocked when the district dismissed the degree and didn’t give the teacher a counseling job. Turns out the online program in that discipline wasn’t accredited.
No One says:

April 29, 2022 at 3:58 pm

Speaking of college, my kid applied to and just decided to transfer to Vanderbilt now that her sophomore year is over at Wake Forest. WF blocked her from pursuing the major she wanted (business), so she decided to jump up the school rankings by a lot, and pursue that course of study at Vandy, which she tells me is a “southern Ivy”
But now I think it might take her 5 years total to graduate, going through a new set of prerequisite classes that might turn her next year into a repeat sophomore year.
Fortunately she has parents willing and able to send her for five years at full tuition without racking up debt.
Now I’ve got some WF apparel I don’t know what to do with.
FYI I have heard that if your kid does well academically in college initially, it’s actually easier to get into higher-ranked schools via the transfer process than initial application out of high school. I don’t think there are public stats on this though.
Libturd says:

April 29, 2022 at 4:03 pm

How’d AARK do today?
JCer says:

April 29, 2022 at 4:05 pm

No one yes that is the case, transferring from college to a top school is easier than gaining entry from high school. Given the disparity across different high schools it is difficult for a university to assess high school students, ideally they want to take kids who will be successful. A kid who can get good grades in a recognized university will with almost absolute certainty do well at a top school so if they have an opening for the student they will take them and there isn’t the same number of transfer students applying so the odds of getting in are high. In the case of your kid it’s a good move, she’ll get a degree in something where there are jobs(business) and from a top school.
Libturd says:

April 29, 2022 at 4:06 pm

Ex,

I always speak the truth. It’s never personal. I really love my enemies. Listen, I don’t blame the public workers for doing what they do. I would be doing it to. It’s our corrupt government that is the real problem and it trickles down through all of the services it provides.
3b says:

April 29, 2022 at 4:11 pm

No One I worked with a guy years ago at GS. He told us one late Friday afternoon in the summer when the desk was quiet, how his dream since he was 8 was to go to Yale.

The other GS guys/ women were all overwhelming from wealthy backgrounds, and all Ivy League grads. We all laughed at him, and said what kind of freak at 8 years old dreams of a college.

Fast forward, he applies to Yale and only Yale, does not get in of course, went into deep depression, skipped Prom, and hung out in his room most of the summer. Finally, his patents said get a job or go to community college. He goes to Nassau Community for 2 years straight A s, and transfers to and graduates Yale. It’s only Freshman admissions as I understand it that are hard for acceptance.
Libturd says:

April 29, 2022 at 4:12 pm

JCer,

Correct. Colleges are more of a maturation process than educational. All of the students can succeed if they want to. But many fade away without their parent’s tutelage. This is why the SAT is not as great of a predictor of college success as the transcript and student resume. It’s easier for an admissions officer to detect future successful academic independence from extra curriculars and course selection than it is from an SAT score that they can tell by looking at the financials, was inflated by paid test prep.
leftwing says:

April 29, 2022 at 4:27 pm

No One, good for your daughter. Nice move. Excellent school, great location, fantastic outlook for grads.
Libturd says:

April 29, 2022 at 4:30 pm

One last thing.

When Trump and Biden were doling out all of this newly minted cash in the name of pandemic stimulus, I was screaming about how it was going to cost us ten times more than anyone received in inflation. Besides my immediate family, who could vouch for me, noone else wanted to hear it. I would ask, “Who is suffering from this pandemic?” Everyone I knew besides a few people in the restaurant business (not the owners or cooks who were making a fortune on takeout and not paying servers or hostesses) were doing better than ever. I couldn’t find a single person in my large sphere of peers who lost their jobs. Sure, at the start, there was a month or two that people shortened their work week by a day or two, or were asked to take a week off, but unemployment covered it. What has everyone lost in their 401Ks? Pensions now going to go boom. All due to our politicians trying to buy votes. No wonder it was a bi-partisan effort.

And the amount of fraud being reported on the backside is astronomical. Much of the PPP was rife with fraud. Most of which will never be paid back. All to buy votes. Who ever heard of giving out tens of thousands of dollars to individuals without any proof of hardship? Who thought this was a good idea? The other day, I linked a chart which compared the UK stock index to ours. Of course their government did not print and send money to everyone, so they are not suffering due to inflation like we are. Our government likes to blame it on supply chain, but this an excuse and mainly false. In the UK, employers had to prove their employees were suffering from hardship to get PPP, and the employer was responsible for it’s distribution. And get ready for this.
It had to be paid back!!! Who would’ve ever thought of such a brilliant plan? Certainly not Trump or Biden.
No One says:

April 29, 2022 at 4:43 pm

How does an 8 yo start dreaming about Yale? A college visit?
I took a walk through Yale once, but not a college tour. It was a bit underwhelming. Looked kind of like Princeton but even older.

If this guy only applied to Yale and had no target or safety schools that he applied to, I don’t think I’d want him dealing with risk management.
That’s Bill Hwang or Cathie Woods levels of “conviction” in his school applications.
Good for him that it worked out for him eventually.
Libturd says:

April 29, 2022 at 4:45 pm

Gotta be parental influence.
No One says:

April 29, 2022 at 4:47 pm

I wonder when Cathie is going to start hosting community events about innovation in St. Pete, FL.
Maybe I’ll drive up and heckle her.
Reading this article, she seems skilled at pulling numbers out of her ass.
https://www.wfla.com/news/pinellas-county/investor-and-innovator-cathie-wood-moves-headquarters-from-new-york-to-st-pete/
Fabius Maximus says:

April 29, 2022 at 4:53 pm

“bring it down people to people”

How many of those PPP loans have been repaid?
No One says:

April 29, 2022 at 4:54 pm

Speaking of parental influence and cultural values, go visit the Princeton campus on weekends and you’ll see dozens of asian parents showing their kids aged 5 to 16 trying to convince them to get into Ivy league schools like this. Basically trying to inspire and push them on education. Basically plan family vacation trips around which schools they can go look at.
Possibly outnumbering the white families visiting. Asians represent a lower % of the US population than some other minorities. I must say that I haven’t ever seen a lot of those other minority families pushing their kids that way.
Fabius Maximus says:

April 29, 2022 at 5:01 pm

“Cawthorn dude needs to go.”

Thats your Rubicon? I think at this point it would be easier to make a list of who in the GOP should stay.

Start with this walking advertisement for Columbian Marching Powder.
https://twitter.com/therecount/status/1519336105136566274

Go reclaim your party.
3b says:

April 29, 2022 at 5:05 pm

Fab: Don’t be contrary all the time, you know exactly what I mean.
Ex says:

April 29, 2022 at 5:36 pm

ChiFi’s white paper on education is worth a read.
It’s not the school but the students’ ability to engage
with that institution which creates successful graduates.
Fabius Maximus says:

April 29, 2022 at 5:42 pm

“And whose kids are going there”

“Laissez faire” thats where the issue started. Ronnie selling the Monorail of the Service Based Economy. Now we get to clean the mess up. With manufacturing gone, low level labor had nowhere to go. The Diploma mills were and are the only way forward for a lot of people. No job without qualifications. Entry level mechanic, you need a qualification. Basic phlebotomist, diploma and certification.
You are looking at $5K for an entry level certs to get you one level above, “you want fries with that!”
Fabius Maximus says:

April 29, 2022 at 5:54 pm

“wouldn’t it be a better idea to make a bigger effort at improving the structure of future affordability and effectiveness of college education? ”

Yes it would help, but do you see the flaw? What does that do for those that already paid their way through the higher cost system. Its the exact same argument, you are just moving the line.
Fabius Maximus says:

April 29, 2022 at 6:03 pm

“I honestly don’t know of a single person in the private sector who has attended one of these online programs.”

I’ve see a lot of University of Phoenix on CVs over the years. I have friends that went through diploma schools only to find there is no accreditation behind it.
The Great Pumpkin says:

April 29, 2022 at 7:14 pm

Amen!! Timing is everything. And it’s all cycles…I’m just hoping the market stays down long enough so that I can get a lot of buys in.

“All bull markets end in crashes, and all crashes end in bull markets. Getting rich in stocks is a waiting game. What makes someone a great investor? Its patience.”
The Great Pumpkin says:

April 29, 2022 at 7:18 pm

Worst month for the naz in 16 years. That’s how long it sometimes takes to get a fire sale. Don’t let the gloom consume you. Buy ark funds now. Buy teledoc now. Buy your favorite biotech stock. They are all way oversold. Easy money. If the business is growing and not going out of business, buy it up.
The Great Pumpkin says:

April 29, 2022 at 7:46 pm

Like i have said…ark/high growth were the canary in the coal mine. Everyone running victory laps with cathie wood will regret it. Their time to get burned is coming…

“Stock market crash began in February 2021. It has worked in this order:

1.) $ARKK & SPAC’s got hit
2.) Unprofitable growth
3.) Growth stocks
4.) Large cap tech & growth
5.) NASDAQ
6.) Mega cap tech

Next:
7.) S&P 500
8.) Value stocks
9.) Dow Jones
10.) Commodities

*Bottom*”
Ex says:

April 29, 2022 at 7:51 pm

“I was screaming about how it was going to cost us ten times more than anyone received in inflation.”

We’re F’ed. Is it me or is the feeling of doom the complete and total Zeitgeist of the Age.
The Great Pumpkin says:

April 29, 2022 at 8:05 pm

And just being honest…if I didn’t invest in ark, I would have never had the intuition to take the scary leap to take the 401k out of the market. So it helped me make lots of money. Money saved is money made.

It never fails. When stocks become cheap, nobody wants to buy. When they become expensive, they all want it. Not rocket science, yet they fail to learn this lesson over and over.
Ex says:

April 29, 2022 at 8:05 pm

On a separate note. I done good today.

It’s insane spending the entire day with teens. I mean from the time I get there through lunch I have kids with me. There is one period every other day that I am “alone” and that’s kind of nice. But otherwise, I won’t lie. I love it. But it takes a toll. Insane. But what I have done in a room is put my foot down, moved some kids. And watched the productivity sky rocket. I knew it would. I also made a misfit kid very happy by moving him to the popular kid/age group table. Holy sh#t what passed for cool these days. “Supreme” is still a thing. LOL

Moving students away from bad dynamics and into awesome ones is truly magical to watch.

The shit we do as teachers is so freaking kickass sometimes.
BRT says:

April 29, 2022 at 8:09 pm

So, my super-immunity finally waned. I had some sort of illness from Monday to Thursday. Tested negative twice. Daughter and wife are both sick, and tested positive. I’m all better, now I tested positive. Who the heck knows… My son and his diet of 1 bottle of mustard a week is apparently enough tumeric to fight off covid. Also kinda baffled that we demonstrated superior immunity during Omicron Phase 1. I guess the 5 months is enough for it to wear off.
Ex says:

April 29, 2022 at 8:10 pm

I got my Master in 1992 in Education from the “30th best school of Ed in the Country”…..Libtawwwd pls sir. Show some respect for the one and only Sunbelt Shining Star of Public Education….the Uni. of Souf Fl.

Mine was a 60 Hour program 1/2 Fine Art and 1/2 Educ. I don’t like math but I enjoyed the stats class. World class professors. Nutty Art Ed people, and a pretty admirable Fine Arts Dept. We worked on Amigas then. I lived with my old man in Clearwater and drove a cherry 914 from the ol’ VW Karmen Coach rust0matic.

Literally some of the best years of my life. Education was superb. The commute over the causeway every day. Goooorgeous. My G-d in heaven when I tell you I was happy. I WAS never happier. Never.
BRT says:

April 29, 2022 at 8:11 pm

Like i have said…ark/high growth were the canary in the coal mine. Everyone running victory laps with cathie wood will regret it. Their time to get burned is coming…

Do you realize how much ARK needs to rise in order to burn someone that was shorting it in the high 90s? Yeah, I’m sure many of her stocks have actually bottomed. But she’s done silly things like sell all of her twitter holdings right before Musk buys in. Bad management can prevent those gains from materializing.
The Great Pumpkin says:

April 29, 2022 at 8:12 pm

Thank you for this. Believe me, my blood boils just as much as yours when I see someone with a fake degree and doing a half ass job getting paid more than me. I have this african american teacher that blows my pay away, but guess who she always comes to for help? Makes me sick, but it is what it is. There’s way more good teachers than bad, will tell you that. And i hate the bad teachers more than you. They give my profession a bad name, and they are getting over on me….i have paid on avg 30k in property taxes over the last 10 years. So it’s personal for me. Do your f’ing job or leave.

Libturd says:
April 29, 2022 at 4:06 pm
Ex,

I always speak the truth. It’s never personal. I really love my enemies. Listen, I don’t blame the public workers for doing what they do. I would be doing it to. It’s our corrupt government that is the real problem and it trickles down through all of the services it provides.
The Great Pumpkin says:

April 29, 2022 at 8:18 pm

Musk loves her. Enough said. These people are smarter than us. Let’s not kick them when they are down. She is guiding a high growth etf that is concentrated in a small amount of companies through a massive bust/bear market. She’s not a hedge fund, she couldn’t switch to value stocks because the market changed. All she could do is ride the market down, teying to sell less convictions for higher convictions. She doubled down on teledoc, dude! After a huge hit. She has major balls and conviction. She knows what she knows and doesn’t back down. What does that tell you??? Instead of bashing her, f’ing buy teledoc because she is. Don’t think you are smarter than her for one second.

BRT says:
April 29, 2022 at 8:11 pm
Like i have said…ark/high growth were the canary in the coal mine. Everyone running victory laps with cathie wood will regret it. Their time to get burned is coming…

Do you realize how much ARK needs to rise in order to burn someone that was shorting it in the high 90s? Yeah, I’m sure many of her stocks have actually bottomed. But she’s done silly things like sell all of her twitter holdings right before Musk buys in. Bad management can prevent those gains from materializing
The Great Pumpkin says:

April 29, 2022 at 8:26 pm

Teachers are managers. I get laughed at for stating that on this blog, but look what you wrote. Managing people that can’t be fired or payed more as an incentive…hardest managing job on the planet.

Ex says:
April 29, 2022 at 8:05 pm
On a separate note. I done good today.

It’s insane spending the entire day with teens. I mean from the time I get there through lunch I have kids with me. There is one period every other day that I am “alone” and that’s kind of nice. But otherwise, I won’t lie. I love it. But it takes a toll. Insane. But what I have done in a room is put my foot down, moved some kids. And watched the productivity sky rocket. I knew it would. I also made a misfit kid very happy by moving him to the popular kid/age group table. Holy sh#t what passed for cool these days. “Supreme” is still a thing. LOL
The Great Pumpkin says:

April 29, 2022 at 8:30 pm

And for anyone busting wood’s balls…

Please explain to me what she should have done with her etf thesis to not lose money. Can’t go to cash. Can’t go to any other sector besides disruptive tech. So please tell me what she should have done. I’m sick of hearing her get bashed every where i look.
The Great Pumpkin says:

April 29, 2022 at 8:32 pm

And she has a good chance to hit 300% or more over the next 5 years at current levels. Like taking candy from a baby. Only a matter of time.
PumpkinFace says:

April 29, 2022 at 8:39 pm

And you have not invested one penny.
The Great Pumpkin says:

April 29, 2022 at 9:08 pm

Face,

I’m just trying to help people. Give it enough time, and i will be correct. Just get through the storm to sunny weather.
The Great Pumpkin says:

April 29, 2022 at 9:09 pm

Someone that gets it.

“What you do or don’t do in this bear market will determine how rich or broke you are in 2025.”

https://twitter.com/backpackerfi/status/1520166970150203392?s=21&t=6hvwrP0feKj3uHPDsagzPg
The Great Pumpkin says:

April 29, 2022 at 9:11 pm

Yup.

“Most people are not psychologically fit to be in the stock market, even if they think they’re long term investors. If you’re checking prices on a daily basis, and this starts to affect your decision making, you really should index.”
BRT says:

April 29, 2022 at 9:53 pm

I believe it was leftwing who pointed out, she’s a straight gunslinger with no risk management. Probably the best characterization ahead of the collapse. There’s no point in explaining to you what she could have done. You are part of a cult.
Libturd says:

April 29, 2022 at 10:25 pm

“Please explain to me what she should have done with her etf thesis to not lose money.”

She could have done what I told you to do.
Libturd says:

April 29, 2022 at 10:26 pm

We all pointed that out. She guessed right once. Now she’s done.
Libturd says:

April 30, 2022 at 7:46 am

Good morning New Jersey.
grim says:

April 30, 2022 at 7:49 am

The next material technological advancement will be powered by the widespread use of neural machine translation. Not blockchain, not metaverse, not web3, not apps, not devices. It’s translation.

1) The technology has now appeared to hit a kind of escape velocity. The level of investment in manpower and money is becoming material. The sheer number of breakthroughs happening is mind boggling, even industry veterans are saying they can’t keep up. There is a reason FB, Google, and others are sinking billions of dollars into this. There is a reason why they are not talking about it. The prize is huge.

2) If you consider decentralization a core tenet of web3, realize that machine translation is a necessary prerequisite for real decentralization. While you’ve abstracted specific physical infrastructure and geography, language remains as a tremendous barrier to usage, adoption, distribution. Language should not be a barrier to communicating in the metaverse.

3) When we talk about technology disruption and disintermediation, what better example than completely eradicating any communication barriers caused by language?

4) You are already seeing this technology make it’s way into every day life, it’s not pipe dream. Start looking for it, you’ll start seeing it bleeding in everywhere. There will be a time where your mobile phone earpiece is going to automatically translate every language you hear, your glasses will automatically translate text, and it is not that far away. This is technology that is determined to become ubiquitous.

This is the game changer. You know we’ve hit the top when translation causes lesser-used languages to die, as we have no need to teach anyone to speak them anymore (outside of where they might be used culturally), and we have ideological discussions about why we’re still even bothering to teach kids how to speak foreign languages anymore.

Tag this post, print it out, put it in the back of your sock drawer and pull it out in 15 or 20 years. Wood can bite my ass, this post is a more substantive prediction than she’s ever made. Why nobody is talking about this? It’s because it’s incredibly difficult to action on, and there is no sexy play that’s two months out. Plus, there are few major pure plays, it’s embedded within many tech companies today. Though, it’s easy to look at the world through the lens of where specific local companies are only leveraging language and market access to differentiate, these are the players that are in real trouble. Though you can look at this from the other direction, foreign competitors who can’t compete in the US without huge investments in attempting to localize (this is especially true for user generated content).
Phoenix says:

April 30, 2022 at 8:39 am

“No wonder why people are pissed and are realizing playing by the rules are for fools.”

Rules are for sheep. I learned in court. Never again.

Lib,
“Funny, the only people I know who have attended these online universities all work in the public sector.”
Nope, big in my sector as well. RN to BSN. New grads all start as BSN, but plenty of older nurses just had an RN. Hospitals demanded this even though their staff had been doing these jobs for over twenty years. They demanded certifications as well so they could hang banners out in front of the building.
I know of high level managers who went to online schools for these upgrades. The irony is that the more they wanted the nurses to increase their education (without paying of course) the more marketable they become. It has had the opposite affect-it’s not safer, and it’s more expensive for everyone.

For you Pumpy- you little justice chomper: Like a doggie chasing a lazer: You got your boy-16 years old-oooooohhhh- you convicted him—ooooohhhh- you are getting moist–he is going to jail for 15 years–oooh, your boys in blue are getting moist with you.
This is what your little “chase” over a traffic stop costs- I wonder if this guy feels the same way you do-how his child, should he survive, will never see his father again, and may never live a normal life. I wonder if you will feel the same way when the police chase someone into the side of a car of someone you love (should you be capable of it).

“Wannenburg was pronounced dead after being flown to an area hospital Friday evening, the Harris County sheriff’s office said. His 8-year-old son was also hospitalized with life-threatening injuries, Sheriff Ed Gonzalez said early Saturday.

The 16-year-old driver of the car that struck Wannenburg’s vehicle and two others has been charged with felony murder, reckless aggravated assault-serious bodily injury, and three counts of aggravated assault-bodily injury, Gonzalez said on Twitter. The teenager’s name was not released.

The driver fled after police tried to conduct a traffic stop, Gonzalez said.”
Phoenix says:

April 30, 2022 at 8:47 am

Pumpy, this is what you call “justice” in a courtroom: Do you agree?

What the judge says:

“Courts have held that a plaintiff does not have a constitutional right to have police investigate on their behalf, let alone do so to their satisfaction,” Sceusi said.

________________________________

A judge in Morris County has dismissed a lawsuit filed by former Olympian Michael Barisone, who accused nearly a dozen Washington Township police officers of ignoring fears he had of a violent tenant whom police say he later shot twice.

Barisone argued civil rights violations after he said officers unlawfully falsified police reports following three visits to his farm as well as an in-person visit to the police station, where Barisone — who said he was suffering a psychological breakdown — said Kanarek and Goodwin had guns and had made deadly threats. Officers, he said, refused to assist him, merely laughed off the claims and did not further investigate.

______________________________

What the judge says:

But Superior Court Judge Louis Sceusi felt otherwise.

“Even in taking [Barisone’s] assertions to be true, there is no support for any civil rights violations under either the United States or the New Jersey Constitution,” Sceusi wrote in an order dismissing Barisone’s complaint on Nov. 17.

While Sceusi said it is unclear whether the police reports contained falsehoods, he cited case law that the filing of a false report is not itself a constitutional violation. He also noted that Barisone’s claims that police failed to investigate his complaints were invalid.
Phoenix says:

April 30, 2022 at 8:49 am

Pumpy,
Is this where you want to go looking for help when you need it?

Judge rules:

Sceusi cited two New Jersey statutes that protect public entities or employees from liability for failing to provide sufficient police protection services. State statute also bars municipalities from civil legal liability for failing to make an arrest or for keeping an arrested party in custody.

https://www.yahoo.com/video/ex-olympians-lawsuit-claiming-police-090023294.html
Phoenix says:

April 30, 2022 at 8:51 am

Last one, Pumpy:

While in the Washington Township police station on Aug. 5, 2019, Barisone said officers refused to help him, despite pleas that he and his family were in fear for their lives.

In a proposed amended lawsuit, Barisone’s attorney amplified that his client has a valid civil rights injury since he was mistreated as a victim of crime. Barisone, he said, also faced discrimination by officers.

“The defendants intentionally discriminated against Barisone as a mentally fragile man in his 50s, in favor of a criminal female in her 30s,” the proposed amended complaint states.
leftwing says:

April 30, 2022 at 8:52 am

Interesting grim…I recall seeing a number of years ago a report on ‘dying’ languages and what was being done to preserve them in an analogue world…might have included some super isolated Polynesian communities as well as Native Americans. On the latter didn’t we during WW2 actually use a group of NA to communicate military instructions, using a dead/dying obscure language as a form of encryption?

It’s fascinated me as I have a horribly hard time learning a different language, which was actually an issue at one point in my career where it was expected and needed…left brain/right brain kind of thing I think, no matter how hard I studied (private tutors in my adulthood) or how immersed I was (living in a land with the native tongue) I just couldn’t get it.

Funny story on the back of it, I was flying during COVID and on a flight some kid gets seated across from me. Absolutely paralyzed with fright. Speaks a language I couldn’t even identify. Attendants couldn’t deal with him, they had their hands full otherwise, but explain he was walked to the gate by an English speaker and needs to transfer at ORD for a connection to his destination where there’s someone on the other end and he doesn’t speak a lick of English. We get up in the air, I figure I’ll try to help this teenager and try to find some common linguistic ground with my broken Spanish or German. Doesn’t work. Kid has an ‘a-ha’ look on his face and pulls out his phone. Long story short he has some app that translates his language to English and vice-versa. Work with it and a terminal map to help him out. Truly amazing, the app worked well have no idea what it was. Probably the equivalent of the wheel or fire to what you are describing but to someone like me that has struggled through a dozen different EMEA languages for too long a time was pretty impressive.

“25 days Pumpkin-free”

3b, is that count correct? Lost track (blissfully).
The Great Pumpkin says:

April 30, 2022 at 9:08 am

That a boy…good post.

Now take it two steps further. What happens when language barrier is removed and remote work environment is the norm? A giant deflationary bomb as language is no longer a roadblock to exploiting low cost labor. American worker doesn’t have a chance.

“2) If you consider decentralization a core tenet of web3, realize that machine translation is a necessary prerequisite for real decentralization. While you’ve abstracted specific physical infrastructure and geography, language remains as a tremendous barrier to usage, adoption, distribution. Language should not be a barrier to communicating in the metaverse.”
The Great Pumpkin says:

April 30, 2022 at 9:11 am

I think the biggest innovation will take place in biotech over the next decade. Manufacturing of synthetic biology. And god knows we might come close to eliminating all genetic diseases. Going to change our world. Remember, we are in the beginning stages of this new sector. Think internet 1990.
The Great Pumpkin says:

April 30, 2022 at 9:14 am

Phoenix,

You have to do something with these car thieves. It’s out of control.

And justice is bs in a corrupt world. We learn this lesson over and over through the headlines.
Phoenix says:

April 30, 2022 at 9:33 am

Grim’s device

https://www.youtube.com/watch?v=ezVib_giTFo
leftwing says:

April 30, 2022 at 9:34 am

My only contribution to the qualification inflation discussion would be to ask chicken/egg or causation/correlation…

If you’ve spent any time in the private sector at a large organization that takes in new grads in numbers even at a junior level you’ve been in the back of the sausage factory…you very quickly realize that, no matter the standard, there are more qualified applicants than there are openings…the process rapidly becomes not ‘which candidates best fit the role’ but instead ‘which candidates can we eliminate [among this highly qualified group any one of whom would perform the role well].’

In that context the ‘education inflation’ becomes a differentiating factor…does society need a PT who has six years of college? Of course not, the standard forever was four…but as some starting showing up with six year degrees – and getting hired over those graduates with four – it quickly becomes the standard. The fact that such circumstance also benefits the entities conferring the degree is only icing on the cake for them (but not for you, your kid, or I would argue society at large).

So yeah, overly and uselessly qualified medical professions, plumbers and car mechanics with undergraduate (vs. trade) degrees, professional service providers with meaningless certifications, etc are all unnecessary in the narrow context of what it specifically takes to get the actual job done…but, truth be told, are you going to be (or let your kid be) the one to go against that grain in life? Probably not.
leftwing says:

April 30, 2022 at 9:37 am

Or, even better, in furtherance of eliminating the education inflation trend if you are a hiring manager will you take as your next hire the kid without the additional years all else being equal among job candidates?
Phoenix says:

April 30, 2022 at 9:44 am

LW
As usual, on point.
3b says:

April 30, 2022 at 10:46 am

Left: By mount count today makes 24 days, so almost at the 1 month point. Much easier than I imagined. The blog and myself are both better for it!
BRT says:

April 30, 2022 at 11:03 am

Update on the Wuhan Wheeze. Daughter kicked covid in under 24 hours. Wife seems to have kicked it in 2 days. Son still testing negative.
Juice Box says:

April 30, 2022 at 11:33 am

Ohhh emerging technologies my favorite subject.

Soul Machines aka Digital Humans

Check out the demo and Speak with Viola….

https://ask.soulmachines.cloud/session
Libturd says:

April 30, 2022 at 5:05 pm

I read about the translation thing recently Grim too. Like three days ago, though I forgot where. It will be a game changer like the light bulb. Language is a funny thing. When I was in college and travelled to countries where English was not the native tongue, it always made me feel like a stranger in a strange land. Learning enough Spanish to get by really makes a huge difference in feeling at home in a foreign place. Or perhaps, just the confidence to try it. At the end of the day, it’s just communication. My mother and father don’t know a lick of French. But when my sister’s French in-laws are in town, you should see the sign language and codes the have devised. It’s hilarious. Nonetheless, the Babelfish machine. which on the surface doesn’t even seem that difficult of a device to create, will really break down barriers.
The Great Pumpkin says:

April 30, 2022 at 5:31 pm

Lifestyles of the rich and famous…detroit style

https://twitter.com/desi_fla/status/1520135142244818944?s=21&t=Xqg1GPXEj-6OHLiKnL6ufA
The Great Pumpkin says:

April 30, 2022 at 7:14 pm

Get Back to Work!
Corporate America WANTS YOU to abandon WFH and return to the office. Goldman Sachs CEO David Solomon, for one, is pushing his employees to show up five days (or more) per week. But not everyone agrees. Does Goldman risk losing the next generation of Wall Street talent by clinging to its culture?

https://apple.news/AeuU3cmzHTnGULGe8tjKYug

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