Let the borrowing begin!

From the Star Ledger:

N.J. credit rating gets two more upgrades from Wall Street as state coffers overflow 

New Jersey’s credit rating has won two more upgrades from Wall Street’s major rating agencies, bringing the number of upgrades to three in just the past week and six since March 2022.

Moody’s Investor Service lifted the state’s rating one notch on April 6, and that was followed by upgrades from Fitch on Tuesday and S&P Global a day later. In statements announcing the upgrades, the three agencies cited full pension payments over the past two years, as well as record surpluses and efforts to pay down debt and avoid new borrowing.

All three announcements closely followed Gov. Phil Murphy’s $53.1 billion state budget proposal for the fiscal year that begins July 1, which he unveiled on February 28 to kick off four months of budget hearings and negotiations in the state Legislature.

From Patch:

NJ Gets 3 More Credit Rating Upgrades From Fitch, Moody’s, S&P

New Jersey has received three credit rating upgrades in the past week, as ratings services note the state’s “resilient” fiscal position following years of downgrades which hampered the state’s borrowing power. 

The most recent upgrade was from S&P Global Ratings, who upgraded its rating on New Jersey’s general obligation bonds from “A-” to “A” on Wednesday. 

Fitch Ratings upgraded NJ’s Issuer Default Rating (IDR) to “A+” on Monday, and Moody’s Investor Services upgraded the state’s rating from “A2” to “A1” last week. These ratings measure the health of a state’s economy, as well as a state’s ability to pay its debts.

“The upgrades reflect better pension funding levels and improved structural balance, largely the result of an anticipated third consecutive year of full actuarial pension contributions in fiscal 2024,” said S&P Global Ratings credit analyst David Hitchcock in a news release.

The upgrades come as the state is preparing to issue more than $1 billion in bonds for school facilities construction projects, which Fitch assigned an “A” rating to. Also, this week, New Jersey state legislators began their review of Gov. Phil Murphy’s proposed $53.1 billion budget for the next fiscal year — which starts this July.

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73 Responses to Let the borrowing begin!

  1. dentss dunnian says:


  2. 1987 condo says:

    Many states have AAA ratings. NJ ranks 49 th in credit rating.

  3. grim says:

    They need that video more than I thought.

  4. Fast Eddie says:

    There was a time when SNL was awesome. So were the late night shows before the hosts grew a pussy and switched from the comedy to angry politics.

  5. grim says:

    Played around with Apple’s new savings account.

    Two clicks, it’s up. Transferred over my whopping $101.54 in “Apple Cash”. (This feature is curiously absent, it required transferring out to another bank and back in. Probably don’t want all that gift card money (Ala Greendot) getting funneled to the bank vs. spent).

    Curious at what point Apple becomes a monopoly. Sure they could argue it’s really just Goldman Sachs and Greendot Bank, with a fancy Apple veneer.

    In other news, Samsung wants to use Microsoft Bing instead of Google as a default? That’s a sucker punch if ever.

  6. Juice Box says:

    So now they are going to borrow at high rates….

    12.4 Billion a year in pension payments and growing.

    Non-Bonded debt liability is over 159 Billion per the 2021 report.

    Net Pension Liability 91 Billion (wonder what magic calculation that is).
    Other post-employment benefits 65 Billion (again magic math)

    Pension fund holds 89 Billion per the end of year report here.


    It will be kick the can. We are 2.5 years until the next Governor’s election. So far Steven Fulop mayor of Jersey city says he is running to replace Gov Murphy.

  7. Very Stable Genius says:

    We’ve finally found the true ‘welfare queen.’ It’s Clarence Thomas.
    A report that the Supreme Court justice’s mother has lived in a home bought by a rich white man contradicts what he has said about “paternalistic” white people.

    April 17, 2023, 8:54 AM EDT
    By Ja’han Jones

  8. Very Stable Genius says:

    Deposited $200k in less than a minute

    grim says:
    April 18, 2023 at 7:10 am
    Played around with Apple’s new savings account.

    Two clicks, it’s up. Transferred over my whopping $101.54 in “Apple Cash”. (This feature is curiously absent, it required transferring out to another bank and back in. Probably don’t want all that gift card money (Ala Greendot) getting funneled to the bank vs. spent).

    Curious at what point Apple becomes a monopoly. Sure they could argue it’s really just Goldman Sachs and Greendot Bank, with a fancy Apple veneer.

    In other news, Samsung wants to use Microsoft Bing instead of Google as a default? That’s a sucker punch if ever.

  9. grim says:

    Ok baller, just increased to $100,101.54.

    Got prompted with a bunch more questions – likely AML related on the large deposit, but still only a few clicks.

    Wondering why kind of outflows other banks are seeing.

  10. Juice Box says:

    CEO of GS trying to save his ass as Marcus was a disaster. As I mention previously even with the higher APY the name Marcus means nothing to the common Joe who is used to dealing with a bank branch, etc to get his to switch to online deposits? Need to team up with Apple which they have at a very high cost.

    Marcus APY was 3.90%. So to move it to Apple it’s now 4.15% APY and it is literally the same bank.

    Cash back up to 3% on the Apple credit card goes to the savings account directly and if you don’t like that it can be sent to your Apple Wallet.

    GS Bank is the 8th largest with really no branches too. 439 Billion in USA assets. They have plenty of room to grow massively online banking only. I was reading the smaller savings banks are seeing outflows to the higher paying savings banks, will be interesting too see what happens in the next 12 months. How much will Apple promote this anyway?

    Banks by branches and assets

    Chase Branches 4,791 Assets 2,4 T
    BOA Branches 3,819 Assets 2,2 T
    Citibank Branches 661 Assets 1 T
    Wells Fargo Branches 4,670 Assets 1.6 T
    US Bank Branches 2,236 Assets 585 B
    PNC Bank Branches 2,617 Assets 517 B
    TRUIST BK Branches 2,213 Assets 546 B
    GS BAnk – Branches 2!!! 2,213 Assets 486 B

  11. grim says:

    Talked to a HNW BSD the other day and he says waiting period to open an acct at Goldman is longer than a month right now.

  12. grim says:

    By the way, got to fly on a brand new Gulfstream G600 with said BSD. Damn she’s pretty. I could get used to that.

  13. Very Stable Genius says:

    Citizens took over Investors and today they are offering 5% with $50k minimum.

    grim says:
    April 18, 2023 at 7:38 am
    Ok baller, just increased to $100,101.54.

    Got prompted with a bunch more questions – likely AML related on the large deposit, but still only a few clicks.

    Wondering why kind of outflows other banks are seeing.

  14. grim says:

    Feel like the current high rates on savings products are going to get pulled back very, very quickly. Bait with the rate, than ratchet down and start layering in fees galore.

  15. Juice Box says:

    re: “Deposited $200k in less than a minute”

    Anyway as mentioned lets see the next report, they are filed quarterly with FED and FDIC although they have the data real time. It will probably leak too.

    If Apple really wants to question banking reality today they will need to offer allot more services to really digitally-transform the banking industry from traditional brick and mortar branches etc. It will require checking and direct deposit perhaps with early access to funds, ACH, wires, and in-network payment for bills etc besides various loan products.

    Goldman seems to want to give away the farm here. The terms from what I have read in the press for the Apple card alone don’t leave much to be in the middle.

  16. Hold my beer says:


    Yes. Kpop concerts are fun. Very different vibe than classic rock concerts.

    Are you going to see Twice this summer with your kid? That’s a 3+ hour show.

  17. Grim says:

    From what I can tell in the wallet app / this thing is seriously no-frills.

  18. Libturd says:

    I would feel a bit pervy being at a Kpop concert. Too many years watching Asian porn.

    Seriously, I’ve flown in private jets like 5 times. The real advantage is the convenience and the comfort comes second. I might have shared this ages ago, but I once commuted to a paper mill in the Upper Peninsula of Michigan in about 90 minutes house to plant. This was in the mid 90s. I drove to Teterboro, where you would drive right to the plane and someone would valet your car. Climbed the stairs into the plane and we were in the sky in under three minutes. Mead financed the trip.

  19. Phoenix says:


    Yeah. It’s what my kid is currently into. She earned it, tickets not cheap nor easy to get.

    Quiet night at work, had a 30 minute conversation with the 20 somethings about kpop, something I would have never known about it had it not for my child. They were impressed by my limited knowledge and the fact that I would learn all of that for my kid. Made for a nice day connecting with the younger ones where I work.

  20. Juice Box says:

    For those with short memories Walmart wanted to be a bank once too and Congress went out of it’s way from both sides of the isle to prevent it back in 2007 with legislation that said at least 85 percent of its revenue from activities that are financial in nature. Walmart backed down. That bill’s sponsor Barney Frank later retired and went into banking himself with the now failed Signature Bank.

  21. Phoenix says:

    I would feel a bit pervy being at a Kpop concert. Too many years watching Asian porn.

    Kind of feel that way as well, except for the “porn” part.

    I could pawn off the kid to go with someone else, the daughter of my boss loves it.

    Somehow I don’t think my kid would ever forgive me. I’m just not into crowds when I can get enough of what I enjoy through online media. Don’t care to go to a football game when I can watch it from home either.

  22. Libturd says:


    I’m in Ally, Sofi, Novo and probably a couple others I don’t remember off of my head. Most if not all offer free paycheck advance with direct deposit. The truth is, I’m this close to closing out my CHASE account. My online accounts all earn between 4% and 5.02% interest, offer ACH transfers, some with no float time, and have huge limits. They all allow you to deposit physical checks online and all refund your ATM fees.

    Even Chase Private Client – Which I am a member of (don’t worry, there’s no fee for me since I have over 150K in there), yields .2% interest, has tiny limits on ACH transfers, chargers ATM fees but offers free wires.

    I haven’t wired money since I closed on my current home 12 years ago.

  23. Hold my beer says:


    We saw Twice last year and are going again this year. Concert was over 3 hours. The encore they come out in casual clothes and spin a wheel with the names of their songs and perform whatever comes up. and they did another 8 or so songs just singing and wandering around the stage waving to the crowd. They must have been wiped out. They dance for around 2 1/2 hours with a few breaks for costume changes. They also take a mini break in the middle of the show. Since there’s 9 of them they broke down into 3 groups of 3 with each group coming out and doing a song. This year Two of them now have solos and the three japanese women have their own song. I’m guessing the other 4 will do a routine too.

    And the fans are really into it. Women will have their hair done up to match the hair of their favorite member from one of the music videos. There will also be people wearing sport jerseys with the first name of their bias/favorite member and the last 2 numbers of the member’s birth year. And thousands of people will have a light that is bluetooth and gets synced to the concert.

    There also werent hordes of drunks nor the stench of pot and bo like you get at a rock concert.

  24. Hold my beer says:


    If she likes blackpink they are going to be in Jersey this August. You have to join the official blackpink fanclub to get a code to buy tickets with at the presale event. If she wants to go you have to get the membership by this Sunday to be eligible to get the presale code. Otherwise it will be sold out and you will have to pay scalper prices.

  25. Phoenix says:

    Sounds interesting. The music is clean so I do approve. The young ones I work with said it would be fun.

    Kid wants one of those lights, anyone have a schematic so I can make my own? Silly light isn’t cheap.

  26. Phoenix says:


    Have her this weekend, will ask. Thanks for the heads up. It’s nice when you connect with your child.

  27. Juice Box says:

    Elon ever the trouble maker.

    Musk revealed that he wants to start a new AI initiative called “TruthGPT” because he fears that existing AI businesses are training their systems to be “politically correct.”

  28. Libturd says:

    I wonder if this is what my friend’s dad felt like when he escorted his son and me to see Ozzy, Crue.

  29. Boomer Remover says:

    On the topic of internet banking and instant transfers: I’m surprised at how nonchalantly I open and move six figure amounts around.

    Click click, CIT bank? Is this even a real bank before I move money there? Click, click, find FDIC certificate, check digital signature, okay a real bank. Click, click, open, click, click, link account, move money….”aaaaaaaaand it’s gone”

    Don’t need to put pants on or check yourself out in the mirror before going to a bank. What was once incredibly sticky is anything but right now. For example, from the CiT website: “Transferring funds to an account at another bank or financial institution for better rates or a special offer? Before you hit transfer, please call us at 855-462-2652 to see what accounts and offers are available for you to earn and save more.”

    I was one of the earlier Marcus customers. Marcus was always a laggard rate wise, and the last to make rate changes after Fed updates.

    I would really have to think for a second to get the names and amounts of all the accounts open right now. It’s not like I wrote it down on a pad anywhere. My wife is even worse, she just keychains everything with machine generated secure passes.

    My cash management plan comprises CiT, Primis, and bill ladders.

  30. Hold my beerq says:


    Twice show is a lot of fun. Blackpink has better music but Twice puts on a more entertaining show. And Twice show is twice as long as blackpink. Blackpink was only around 1 1/2 hours.

    If you really want to impress her be able to identify a few of the Twice members and listen to AESPA and Le SSerafirm or watch them on youtube and mention the names of their big songs to her. I think those two will be huge like Twice and blackpink and touring the US when they have released enough songs.

  31. Libturd says:


    I make a paper folder in a file cabinet for every account I open and I also immediately add it to Mint. I also use Google Passwords to suggest and store passwords.

  32. Very Stable Genius says:

    Man Charged With Murder in Shooting of Woman Who Went Up Wrong Driveway
    Kevin Monahan shot Kaylin Gillis, 20, when she and several friends wound up outside his house in a rural part of upstate New York, the authorities said.

    “A man in upstate New York was charged with murder on Monday in the killing of a woman who was in a car that mistakenly drove into his driveway, officials said.

    The woman and the three friends she was with never got out of the car on Saturday night, Jeffrey J. Murphy, the Washington County sheriff, said at a news conference. They were turning around after realizing their error when the man, Kevin Monahan, 65, stepped out of his house, in Hebron, N.Y., and fired at least two shots at the car, the sheriff said.

    One of the bullets struck the woman, Kaylin Gillis, 20, and the group drove about six miles to a nearby town before they got through to 911, Sheriff Murphy said. Emergency services workers responded and performed lifesaving measures on Ms. Gillis, but she was pronounced dead, the sheriff said.“

  33. Libturd says:

    Oh Boomer,

    I got a $77,250.00 HELOC through FIGURE in 14 hours without getting up from my desk. I filled out the application at 10pm online and the notary was done online and the loan closed the following morning at noon.

  34. Libturd says:

    Lots of amazing registered gun crimes lately.

    All involving hunting and collecting (of human cadavers).

  35. Boomer Remover says:

    It wasn’t a flex. I was suggesting, perhaps implicitly, that this behavior is probably very widespread at the moment, all the way down to folks with $10-50K.

    I commuted to Midtown east yesterday. Grand Central, uptown A and the busses to NJ were all not as packed at 5:15PM as I remember them.

  36. Phoenix says:


    For me they are hard to tell apart. Sorry but it’s true. One did stand out so since I was asked to have a “bias” I now have one.

    I was asked who my bias was when the twenty something periop were having our conversation. I gave her the name. Her response ” you have good taste, my father chose the same one.”

  37. Juice Box says:

    re: “Lots of amazing registered gun crimes lately.”

    Sensationalism sells. Most gun crimes never make it to the MSM and Social Media. Biden called the 16 year old teenager Ralph Yarl yesterday. Per the latest updates he is physically fine and has been home since Sunday. Biden invited him to the White House.

    If this fund raising keeps up he can fly private there in his own G600.


    By the way about 16 year old was murdered in Kansas City this week. No call from the President.

  38. Juice Box says:

    What ever happened to that Cop in NJ who opened fire at teenagers who knocked on his door? It was back a few years now. Trooper Kissinger Barreau seems the Grand Jury refused to put charges on him.


  39. Phoenix says:

    It’s all about marketing.

    Some of the young ones I work with, I can’t for the life of me understand why they would choose the same career I am in.

    With a TikTok account and a few dance moves they could easily make more than the lousy salary they get where I work. I warn them if they stay to long to look at those of us who have- do you want to look, feel, and act like we do? If not, GTFO while you still have the goods.

  40. Phoenix says:


    Old white people are triggered. Go on broadcastify and listen to the local cops. Had it on one day, some lady called the police because two men walking by waved at her. WTF? Another called because a car was parked on her street. One called because she thought the lock on her shed was moved a bit.

    Triggered. Great word for it. And if you want to get rid of someone that “annoys” you, just lie and say you “think’ that they “might have” a gun. Then you get increased entertainment potential with absolutely no downside as no one is going to prosecute you- plenty of videos like this circulating online. Plus, from a more personal angle, I listened to my own ex wife lying to the dispatcher claiming I was “holding something over her head” in the “female victim” cry of the distressed damsel tone- when I was 100 feet away in the middle of the yard on the phone with a different dispatcher.

    People lie to get what they want, and they will lie to try and get you killed with the help of itchy triggered police. And no, they won’t look at your evidence, listen to it, or prosecute.

    Lazy bas turds in that profession that is called law.

  41. Hold my beer says:



    Here’s a cheat sheet. Since they constantly dye or change their hair styles you can’t go by hair. And 8 of them are within a few inches in height.

    Nayeon is the main singer. She has rabbit teeth. Note she is very proud of them and its considered cute in Asia She had the solo song Pop last summer.

    Jihyo is the second singer. She is voluptuous so she stands out. she had a solo come out recently

    Tzuyu pronounced chewie is the tallest (like 5′ 9″ or 10″) and is the visual of the group. She is considered the prettiest woman in kpop. All kpop groups have a visual, someone who is considered extremely pretty/handsome and is in the center of a lot of the photos.

    Sana is one of the thinnest and looks a bit like Tzuyu and is the most facially expressive in the group

    Momo is the best dancer and considered one of the best dancers in kpop. Watch a few of their videos and she stands out.

    Mina has a pointed jawline chin. She is 2nd best dancer and is very graceful.

    Dahyun is main rapper. She has a huge smile when shes singing her lines

    Chaeyoung is the other rapper and is the edgy one in the group

    Jeonyoung has a herniated disc in her neck. She is on meds for it that have caused her to gain weight so she is the largest in the group but a fan favorite.

  42. Phoenix says:

    Don’t know, but my guess:

    A waterfront home in Florida, a nice untaxed pension, lifetime health benefits, a 30ft Grady White with twin Yamahas, and a Dodge Ram Cummins Turbo Diesel dually to haul it.

    And a side gig as a security consultant for pocket change.

  43. Phoenix says:

    I guess her father and I both prefer “voluptuous .”

    Oh well. And all along I just thought she danced the best.

    At least I know what pronoun I am now. Thank you.

  44. Libturd says:


    We are a crazy gun-centric society. Why? We are not being scalped anymore? Well, besides by Kpop ticket sellers.

  45. No One says:

    Twice –
    Only slightly more feminine than BTS though.

  46. Hold my beer says:


    Interesting. I’ve heard she is considered the top one for Indian standard of beauty.

    Don’t forget to listen to AESPA and Le SSerafim or watch their videos before the weekend. Your kid will be impressed youve heard of them.

  47. Phoenix says:

    I’ll buy you a drink for that cheat sheet. Unfortunately it will still be work for me- should buy a set of flash cards haha.

    My kid likes this song Cupid from Fifty Fifty. Hope I don’t have to memorize those faces as well.

    I think I will enjoy the show just being there with my kid. I agree it’s probably a nice crowd if you have to be in one.

  48. Libturd says:

    Firearms account for 20% of all child and teen deaths in the U.S., compared to an average of less than 2% of child and teen deaths in similarly large and wealthy nations.

    This is crazytown.

  49. Libturd says:

    Now I know why kids are shooting each other.


  50. Hold my beer says:


    They actually make postcards, photos and stickers with their names on them. But they swap hairstyles so much you gotta figure out other keys. LOL

  51. Libturd says:

    Phoenix, that was pretty funny.

  52. Hold my beer says:


    That guy is funny

  53. Fabius Maximus says:

    A KPop beef just showed up in my feed when someone went after Janet Jackson.


  54. BRT says:

    Firearms account for 20% of all child and teen deaths in the U.S., compared to an average of less than 2% of child and teen deaths in similarly large and wealthy nations.

    This is crazytown.

    A tale of two cities, err maybe cities and suburbs. Because in the cities, kids murder each other daily with guns. In the suburbs, especially the wealthy ones, the probability of your kid dying from gun violence is essentially zero.

  55. A Home Buyer says:


    Out of curiosity, is that one of the statistics that categorizes 19 years old as a “child”?

  56. Fabius Maximus says:

    “A man in upstate New York was charged with murder on Monday in the killing of a woman who was in a car that mistakenly drove into his driveway, officials said.

    I drove into a driveway up near Woodstock, but luckily I ran into an old Hippie. Mrs Fab and I were looking to buy some land. This was pre GPS, so we were trying to find a plot using the tax map. We drove up a driveway past a No Trespassing sign. When we saw the buildings we realized it was the wrong place, we started to turn around.

    Old guy shows up beside the car and he wearing a pair of flip flops and nothing else. I wind down the window and I explain the situation. He looks at the map and points out that the entrance we were looking for was a few hundred yards up the road. We had a chat about the area for a few minutes and he sent us on our way with a “Hope we can be neighbors!”

    Struck that town off the search list.

  57. Libturd says:

    It’s just as bad in the burbs per capita. It’s a myth that’s it’s only in the cities and especially the blue ones.

    Statistically, you don’t need to bend the data to know that guns are a huge problem in our country and nearly nowhere else.

    A poor economy causes more crime. It always does. I’m not looking forward to the upcoming recession where the numbers of guns have absolutely exploded. I am a gun supporter too. But what’s happening in this country lately is insane.

  58. chicagofinance says:

    On the FabMax family outing, one of them posed for a scenic photo……

  59. BRT says:

    Lib, I disagree. I live in Mercer County. You aren’t going to find gun incidents with kids occurring in Princeton, Hopewell, Pennington, South Brunswick. You can probably go back 5 decades and find zero incidents. Trenton, you’ll get one a week, and that’s only what’s reported.

  60. Libturd says:


    Forget the wedge issue for a moment.

    WTF do we need so many guns for?

  61. Juice Box says:

    All gun violence is well local. Here in NY Metro most of the illegal firearms are trafficked up I-95 from other states, those guns account for most of the gun crimes as much as 90% per Bloomberg stats and others. Illegal straw purchases and stolen weapons etc trafficked up the Iron Pipeline.

  62. BRT says:

    I’m not going to use an article that talks about Alabama to apply it to the North East. The North East has almost non-existent gun violence in all of it’s suburbs. Even when you get any in the suburbs, it occurs at the city borders. That’s why it’s always “news” when someone gets killed outside of a city with gun violence.

  63. BRT says:

    What is the gun violence like in Montclaire?

  64. Libturd says:

    There are homicides. Even in Glen Ridge too.

  65. BRT says:

    Sure but the town of Trenton will post more homicides than the states of Maine, Vermont, and New Hampshire combined. There’s clearly a difference in city vs. burb. At one point, my three previous visits to Trenton resulted in me being within a block at the time of a murder.

  66. The Great Pumpkin says:

    Let’s go Rangers!!!

  67. Old realtor says:

    Pay close attention to the location and the sound barrier in the photos. The bedroom in the unfinished basement is also a lovely touch. The ask is $499,900 for this 1283 GLA beauty. Still on the market after 50 days.

  68. Fast Eddie says:

    Old Realtor,

    I have 15 things right off the bat the sellers need to do in order to sell that house but I know you already know it. I’m sure their agent dropped a few subtle hints.

  69. BRT says:

    FDA authorizes another round of bivalent boosters without any trial data on effectiveness. What is this, #6 or #7 for people, I lost track. Get your outdated sequence shot asap.

  70. D-FENS says:


    Libturd says:
    April 18, 2023 at 2:48 pm

    Forget the wedge issue for a moment.

    WTF do we need so many guns for?

Comments are closed.