From NorthJersey.com:
Is North Jersey’s rental market finally cooling down? How hot the market is so far in 2025
There’s no doubt about it: Finding an apartment, especially an affordable one, in North Jersey is a difficult feat. But believe it or not, it’s a feat that has eased up — if only slightly — during 2025.
In RentCafe’s recent Hottest Rental Markets report, it ranked the top 20 U.S. rental markets based on how competitive they were during the first quarter of 2025.
North Jersey, which has consistently been named among the nation’s top markets, didn’t rank in the report’s top five. In fact, for the first time in at least two years, it didn’t even make the report’s top 10.
Instead, North Jersey — with Bergen, Passaic, Morris, Essex, Sussex, Hudson and Union counties included in the report — was named as the nation’s 11th-most-competitive rental market during this time. That is compared with this time last year, when our region ranked third overall.
“Interestingly, North Jersey’s rental market has softened, as shown by a sharp year-over-year drop in its RCI score,” the report says.
Friskies
What drives rental demand? People growing up and moving out relative to people leaving rental for home ownership. I guess when home ownership is tougher, more people stay in the rental pool. Should have something to do with how many people are getting into early stage jobs versus mid-career jobs, how many people are deciding to have kids.
I only rented in NJ for a year or two when my wife and I first moved to the state. Short Hills in 98/99.
Lots of new rentals coming on line in Bergen Co. They just started another 20 unit development on Kinderkamack Rd.
From my feed on LinkedIn… post by Srini Pagidyala
Subprime AI crisis
“Since OpenAI unleashed ChatGPT on the world two and a half years ago, the company has operated at a substantial financial loss.
Despite raising at least $60.9 billion in private funding since ChatGPT’s public launch, OpenAI is leaking billions of dollars every year. In 2024, for example, the tech startup lost some $5 billion, per MSNBC. That doesn’t seem to bother OpenAI insiders, though, who hope to be bringing in $125 billion in annual revenue by 2029.
The gulf between OpenAI’s ambitions and its actual financial health reflect what tech critic Ed Zitron calls the “subprime AI crisis.”
Playing off the subprime mortgage crisis of 2007 — also known as the Great Recession — Zitron notes that AI companies like OpenAI and Anthropic operate at a “massive loss,” and that the chickens are eventually going to come home to roost. Similar to 2007, when banks lent way more credit than they could ever hope to make back, Wall Street has bet billions hoping that OpenAI will miraculously continue to skyrocket in value.
Per Zitron, that idea isn’t exactly built on sound financial analysis as much as a frenzy of “magical thinking.”
“I hypothesize a kind of subprime AI crisis is brewing,” Zitron wrote, “where almost the entire tech industry has bought in on a technology sold at a vastly-discounted rate, heavily-centralized and subsidized by big tech. What happens when the entire tech industry relies on the success of a kind of software that only loses money, and doesn’t create much value to begin with?”
The answer to that rhetorical question, as it turns out, is widespread layoffs, price hikes, and the enshittification of software that relies on companies like OpenAI and Anthropic for their own infrastructure.
For example, the company Anysphere, which runs Cursor — an “AI code generator” based on Anthropic’s large language model (LLM) infrastructure — recently imposed a massive rate hike on its users, despite raising nearly $1 billion in funding back in June.
That’s got the company’s dedicated user base of software engineers and coders chuffed, to say the least. Following the hikes, they’ve flocked to social media to vent their frustration, flooding Reddit with posts titled “Cursor: pay more, get less, and don’t ask how it works” and “Cursor’s New Pricing Model Is Absolute Garbage.”
Per Zitron, “Anysphere is, despite getting $900 million in funding, running out of money, or at least believes that continuing to operate its business in a way it did less than a month ago would cause it to do so.”
Following the money upstream reveals the true source of the rate limits: pressure put on Anysphere by Anthropic’s own recent price hikes, the first of their kind, and a dark omen for things to come.
Zitron sums it up neatly: “There is no way this situation leads to the kind of growth that will make Anthropic and OpenAI profitable, sustainable businesses, and [this] will have the opposite effect on their revenues long-term.”
Probably due to more supply.
Some posters are always complaining about all the new apartments being built, but more supply leads to lower prices.
Some posters are always complaining about all the new apartments being built, but more supply leads to lower prices.
Yes. It’s madness. There are pods sprouting up like weeds everywhere. Investors and builders had this idea that as soon as it’s built, the ‘no vacancy’ sign would appear. Stop building so many boxes.
Re: “ more supply leads to lower prices”
The luxury crap boxes built by Toll Brothers near my home are selling for a cool million bucks These are townhomes that have cheap siding not even faux brick facades.
The forced it through via threats from the Fair Share Housing Center which helps developers blackmail towns with the threat of mount laurel lawsuits. Oh look they added “affordable”rental units..
Lower prices…ha!
So, how does a town decide a building is “affordable housing”? Is it the density of units or something else?
VIX sub 16. Whoa!
I’m getting a second shed built in the back yard. A 12×8 wood based. Just started on the foundation with a few inches above ground. The guy – who has done other handyman jobs for me is open to both a kit or getting all the materials a-la-carte.
The problem with kits from Home Depot or Lowes is that they are not readily available and take time for delivery. Self pickup is a problem with loading and unloading. Pre-built is not an option as I have a fence that I don’t want to rip apart for the project.
Looking at sites that offer plans with full materials needed.
“enshittification”
Hmmm.
Yes. It’s madness. There are pods sprouting up like weeds everywhere. Investors and builders had this idea that as soon as it’s built, the ‘no vacancy’ sign would appear. Stop building so many boxes.
My feeling is that developers who are spending their own money (and their investors money) on new housing units are probably more knowledgeable about what the market needs than politicians (or random guys on the internet).
When we did our deck, we just gave the materials list that I typed up based on the plans to the guys over at Maresca Lumber in Pequannock and they pulled and delivered everything for us. Was basically the same price as HD, but significantly higher quality.
Great read on the health care cuts.
https://yourlocalepidemiologist.substack.com/p/medicaid-cuts-the-how-and-why
I purchased a galvanized steel shed on TEMU for $75. Put in an exhaust fan and a weatherproof lamp (also from Temu) for $50 more. It’s a smoker shed about 4 x 8. Screwed it down to the deck so no cement pad needed. If it gets too weathered, I’ll spend another $75.
Dang. Hell. Do Si Do. Rope ’em cowboys. We live, breathe, and eat football down here.
Y’all look out. We be huntin’ animals and Illegals. Ain’t got no stinkin’ time or money for this:
An internal report prepared by officials in the county hit worst by the Fourth of July Texas floods predicted such an event would occur this year, DailyMail can exclusively reveal.
The report also said the number one priority for saving lives in heavy floods was to ‘improve the delivery and effectiveness of warning messages’.
Most of those deaths were in Kerr County, which was home to Camp Mystic, the all-girls Christian summer camp, where 27 deaths have been confirmed.
But the report, published just nine months ago in October 2024, shows officials knew of the dangers but dragged their feet when it came to doing anything about them.
Not only did the Kerr County Hazard Mitigation Action Plan explicitly note that a flood event was ‘likely’ in 2025 and ‘probable’ by 2027, it also accurately forecast the places most likely to be hit.
Grim, where did you get the plan from? Any specific source?
Is this real?
https://ia801203.us.archive.org/26/items/gov.uscourts.cacd.646485/gov.uscourts.cacd.646485.1.0.pdf
Oc1: I am not complaining, in fact I don t care. If they want to build them, they build them. I just think it is a step backwards. And, they do contribute to traffic and congestion too. And, they are ugly.
Oc1: Don’t be so sure that the random guys on the internet don t know more than some builder.
Juice: Who is paying (rhetorical) 1,000,000.00 for these crap boxes. When the poop hits the fan at some point are we going to have to bail them out with ultra low rates and modifications to their loans, because of the dream and all?
Buying VIX below $15 is something that’s worked for quite some time now.
Don’t be so sure that the random guys on the internet don t know more than some builder.
Builder’s putting his money where his mouth is!
As the saying goes- money talks, BS walks.
Just resurrect Obama. No one knows better to solve the problems of jingle mail, bank bail outs, and corrupt credit rating agencies.
Glass-Steagall repeal caused the first problem.
Dodd-Frank will initiate the second.
It’s coming, except with more potential energy behind it.
3b says:
July 9, 2025 at 1:47 pm
Juice: Who is paying (rhetorical) 1,000,000.00 for these crap boxes. When the poop hits the fan at some point are we going to have to bail them out with ultra low rates and modifications to their loans, because of the dream and all?
$100,000,000 don’t buy what it used to in 2016.
Unless it’s government favor you are purchasing.
I don’t understand why some long time homeowners are looking at the current market for high density housing in their area with contempt. (Mostly 3B and Fast Eddy.)
It really smacks of entitled boomer mentality. Why not just be grateful you bought at a good time and are able to come out way ahead? Instead, in typical boomer fashion, you’d gladly pull the ladder up behind you if there were a way to do so. Heaven forbid someone make you wait a few extra seconds at an intersection.
Honey! Hide your jewelry!! I think that family over there…they might be….oh god!!!! RENTERS!!! And I think I heard one speaking a foreign language!!!
And even if they bought the unit, you insinuate that doing so makes them financially irresponsible for doing so. They can’t win.
What would you do if you were just staring out with a young family and had the need to reside in the area due to family or a job?
The Fair Share Housing Act reads as if it was written by the villains of Atlas Shrugged. Like many pieces of NJ legislation and NJ Supreme Court decisions.
release e pstein list
Heaven forbid someone make you wait a few extra seconds at an intersection.
I have a German car, it’s my right and privilege to go first.
Trump threatens to take over NYC if Mamdani wins.
Exactly the stimulus Mamdani needs to win!
Honey! Hide your jewelry!! I think that family over there…they might be….oh god!!!! RENTERS!!! And I think I heard one speaking a foreign language!!!
Note to the neighborhood watch committee: Keep an eye on these immigrant muppets.
Tried getting a shed kit from Lowes for what seemed to be a decent deal for $1900. All the stores were showing inventory of just 1!
So, I walk in there and after being sent from one store guy to another they figured that these items are only in the parking lot fully assembled. I asked for delivery time and they sent me to the “pro” team. They would not give a delivery time until you filled in all the details… and at the last screen says it is $5000 something, with installation. I said I didnt want installation, so it took them another 15 minutes before they said that they these items only come with installation. And even so, you have to pay before they give you a delivery time.
I printed a detailed shed plan from Etsy after getting back home and will have the handyman buy the material tomorrow.
The foundation is almost done. If the materials don’t give me any problem, it should be done in a week. It’s a T&M project and the guy expects materials to cost about $700 to $1000, we will see.
Fixed it – “reads as if it was written by the author of Atlas Shrugged. ”
Long winded and meandering with endless meaningless monologues. In the end the whole premise while a cute concept is unsustainable and unworkable in real life.
When Atlas Shrugged comes up in here I always ask the question;
Who shovels $hit in the Gulch?
I got ChatGPT to sum this up for me. It does convey the same point in a more elegant manner.
Atlas Shrugged by Ayn Rand, though written decades ago, presents a strikingly relevant message when applied to the current debate surrounding immigration and the labor force in America. In the novel, Rand imagines a dystopian world where the “men of the mind” — those who innovate and drive industries — eventually withdraw from a society that punishes their success and rewards mediocrity. As the great minds of industry disappear, the world around them collapses into chaos. In this sense, the novel can be seen as a critique of collectivist policies, but it also reveals an important truth that is being ignored by those currently in power: a society cannot function without a basic labor force.
Today, we are seeing the consequences of policies that disregard the importance of immigrants in maintaining the backbone of American industries. The ongoing immigration crackdown under the current administration has led to a shortage of workers in critical sectors such as agriculture and meatpacking. As a result, crops are left rotting in the fields, and packing plants are operating at reduced capacity. While the government continues its pursuit of deportations, it fails to address the reality that these industries rely heavily on both legal and illegal immigrant labor to function. The question remains: who is supposed to perform these necessary yet often dehumanizing tasks? If we follow the logic of Atlas Shrugged, the so-called “Galt’s Gulch” — the idealized sanctuary of the innovative and successful — would be devoid of those who actually sustain the material world.
Rand’s novel romanticizes the idea of a society where the best and the brightest are free to pursue their self-interest, but it overlooks a key point: the economy, and society at large, needs a functioning labor force to survive. The question of who will do the “meaningless jobs” that hold society together is glaringly absent from Rand’s narrative. In the book, the workers who are expected to perform these tasks are not the ones invited into the utopian “Gulch.” They are often discarded, left to fend for themselves in a system that ultimately collapses because it fails to recognize the interdependence of all roles within a functioning society.
Moreover, one of the most striking criticisms of Atlas Shrugged is its endless, meandering monologues. While Rand’s prose might be admired by some, the long, repetitive speeches — often filled with self-righteous tirades about individualism and objectivism — detract from the novel’s overall impact. These endless lectures on philosophy, though intended to champion the ideals of self-reliance and capitalism, often feel disconnected from the very practical realities that make a society work. It’s as though Rand’s characters, lost in their ideological purity, fail to recognize that the world is not just about idealized visions of greatness; it’s about the collective, often mundane, work that keeps everything running.
In conclusion, while Atlas Shrugged may offer valuable insights into the dangers of collectivism and the importance of personal liberty, it fails to address the very human need for a labor force that sustains a functioning society. In the real world, where crops rot and industries falter because there are not enough hands to do the work, the lessons of Rand’s novel seem at odds with the reality on the ground. A society built solely on the ideals of individualism, without recognizing the essential roles played by all members — especially those at the bottom of the economic ladder — is one that is doomed to fall apart, much like the world Rand describes in her book.
Hopefully one of Musk’s minions has it on a thumb drive.
VSG says:
July 9, 2025 at 3:34 pm
release e pstein list
Atlas Shrugged is garbage just like the bible.
RL
What kind of plan do you need for a tiny shed?
A framer could do that without thinking.
I built one from scratch without a drawing.
The only thing, if it’s just a box, that really affects the price is the floor and the siding.
I built the floor strong, as I had a small backhoe to park in it.
It’s still standing.
“There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.”
If people vote, their vote should count. Them’s the rules.
This type of talk is extremely disturbing.
RentL0rd says:
July 9, 2025 at 3:45 pm
Trump threatens to take over NYC if Mamdani wins.
4:35, If I was doing it all myself I probably would chalk a plan and buy some material as I go and start off. But with this handyman, if I’m not clear with the instructions, he’s going to do it his way. He’s experienced and I trust him, but I wanted a plan more as a communication tool. Nothing more exciting than building something yourself.. which I don’t have the luxury of right now!
If you went last, there would be no one behind you in a 25 year old Japanese car to pick you up when that German crap breaks down on you.
White Trash Eddie says:
July 9, 2025 at 3:44 pm
Heaven forbid someone make you wait a few extra seconds at an intersection.
I have a German car, it’s my right and privilege to go first.
Hughes and Lib – thanks for your note about insurance for the windshield. I have a safelite guy coming on Friday. It won’t be OEM, but with a $50 deductible, beats going to a dealer or pay out of pocket.
Ohhhhhh
Juday, Juuuday, Judaaay. Does the lord and the bible sayteth that God wants you to do this? Did God preach this from up on high and tell all of his disciples to kill gay people.
I watched a video where a couple of religious individuals were screaming at a tornato summoning it to vanish like a spell from Harry Potter.
Mabye there was something in that Covid shot after all.
A Florida councilwoman has been suspended over allegations she shared a slew of hateful social media posts, including racist remarks against Barack Obama and a method to kill gay people.
Judith Fike, a Groveland council member since October 2024, has been temporarily removed as the city investigates vile social media remarks she allegedly posted.
RentL0rd says:
Still have the Paslode I built it with. Don’t use it much anymore.
Just remember, Crown up, Crown out.
July 9, 2025 at 4:45 pm
4:35, If I was doing it all myself I probably would chalk a plan and buy some material as I go and start off. But with this handyman, if I’m not clear with the instructions, he’s going to do it his way. He’s experienced and I trust him, but I wanted a plan more as a communication tool. Nothing more exciting than building something yourself.. which I don’t have the luxury of right now!
Tornado.
Oopsy.
Juuuuday.
That isn’t nice.
‘From using the n-word to bashing the LQBTQ+ community and trivializing tragedies like Pulse [nightclub shooting],’ Gaines said, in reference to the 2016 mass shooting at a gay club in Orlando which killed 49 people.
‘It would have been easier to take the people from the Pulse nightclub, it would have been easier to push them off the roof,’ Gaines read aloud, allegedly quoting Fike.
Gaines also stood up to show community members screenshots of a post allegedly depicting Ronald Reagan ‘babysitting’ Obama.
‘Except, [Obama] is a monkey,’ Gaines told the small audience referencing the image allegedly shared by Fike.
In Galt’s Gulch, everyone works, and there is no class division in the traditional sense. The inhabitants are individuals who are highly skilled and productive in their respective fields (inventors, artists, businessmen, etc.) who have “gone on strike” from the collectivist society.
While the specific details of who does every “menial job” aren’t exhaustively detailed, the underlying philosophy of Galt’s Gulch is that individuals are responsible for their own lives and contribute based on their abilities and desires. When Dagny Taggart arrives, she volunteers to be a maid to John Galt to earn her keep, demonstrating that even those who were once high-ranking executives are willing to perform any necessary labor to maintain their freedom and self-sufficiency. The idea is that work, regardless of its nature, is valued when it is a conscious, productive choice.
the underlying philosophy of Galt’s Gulch is that individuals are responsible for their own lives and contribute based on their abilities and desires.
Then why do people form groups and lobby politicians?
Where is the individuality in that?
If one truly believed in individualism, they wouldn’t approve of lobbyists.
That would be Janus faced.
Galt’s gulch seems to have several flaws. It assumes everyone is productive, at all times.
Your first 20 – 25 years of your life you exist because of others’ support. And similarly the last 25 if you live to a 100. And in between you have incidents that make humans unique in their own way – make ups, break ups, kids, health, wealth..
To simplify and retreat to a mountain with the most productive members is grossly selfish and impractical for any society.
Ancient hinduism offers something similar – a caste system. A system where everyone does what they are good at and not cross the lines. And we know how repressive such a culture can be in modern day.
Bob:I don’t look at high density housing with contempt, in fact and as I have said, I think it’s a step backwards for people. High density housing is being built all over north Jersey, on the side of highways, in shopping mall parking lots, on busy streets, backing up to warehouses, in flood zones and the list goes on. Perhaps, you think it’s progress like OC1 does, maybe it is, and that’s just the way it is now.
Bob: A family just starting out and buying a 1,000,000.00 apartment? And, I do have a problem with those people that do make reckless financial decisions, as we all pay for them, like we did after the financial crisis/ housing bust in 2007/08.
Gary I was one of those that read it at around 14 I thought it was complete garbage.
Again here is the power of AI. You put your thoughts in a well formed prompt and your main job is curate the output.
It’s worth diving deeper into some of the philosophical contradictions that come up when applying Rand’s vision of an ideal society to practical realities.
First, if Dagny Taggart is successful in the outside world, running the best railroad in the world, why would she need to become a maid in Galt’s Gulch to “earn her keep”? The answer seems to imply that in Galt’s Gulch, even the most highly skilled individuals must perform menial tasks as a form of self-sufficiency, but this raises several questions. If Dagny is an expert in railroads and heavy industry — industries that don’t exist in Galt’s Gulch — what role does she play? Her skills, while impressive and valuable in the outside world, seem largely irrelevant in a society that doesn’t seem to require such work. This suggests that Galt’s Gulch isn’t about creating a society where all contributions are equally valued, but rather a place where people with specialized, high-level skills gather together in an environment that doesn’t demand their specific talents.
This leads to the next point: Who defines “productive”? If Dagny volunteers to be a maid, we have to ask, is she actually productive at it? Is someone who is not particularly good at a job still considered valuable in this society? If Dagny’s maid skills aren’t up to par, how does Galt, or anyone else in the Gulch, define whether she’s truly “earned her keep”? This opens the door to some uncomfortable implications: what happens when someone’s abilities don’t align with what society needs? Can someone be genuinely self-sufficient if they can’t contribute in a meaningful, practical way?
The concept of “earning your keep” in Galt’s Gulch is also worth questioning. In the novel, it seems to be synonymous with self-sufficiency, but if Galt — who is portrayed as the ultimate self-made man — needs a maid, then why does he require help? Doesn’t hiring someone to perform a menial task go against the idea of total self-reliance? It almost mirrors the very collectivism Rand so vehemently criticizes, as it suggests a mutual dependence that doesn’t align with the philosophy of radical individualism. Galt, in essence, is acting as though he is not fully self-sufficient, but rather someone who depends on the labor of others to maintain his lifestyle, a contradiction to the very ideals of personal autonomy and independence that Rand advocates for.
Finally, what happens to those in Galt’s Gulch who are unable to “earn their keep”? If someone is unable to perform any kind of meaningful labor, whether due to lack of skill, ability or sickness, are they cast aside? Are they banished from the community? If everyone is supposed to be self-sufficient and responsible for their own lives, does that mean there’s no place for anyone who cannot contribute? This introduces an uncomfortable question: if we value self-sufficiency and personal responsibility, how does one reconcile the inherent human need for cooperation, compassion, and sometimes, collective support? What happens when personal capacity is limited, and how does Galt’s Gulch handle that?
In conclusion, while Atlas Shrugged espouses the idea of radical individualism, self-reliance, and personal responsibility, it doesn’t fully account for the complexities of real-world systems or the nuances of human interdependence. When you dig deeper into the mechanics of Galt’s Gulch, it becomes clear that even in a utopian world of highly skilled, self-sufficient individuals, contradictions emerge that complicate the ideal of self-sufficiency. Ultimately, Rand’s vision of a perfectly independent society seems increasingly difficult to reconcile with the realities of human nature and the necessities of cooperation.
Why is Orange man in Brazil’s business? We went from supporting democratic values in the rest of the world to promoting dictatorships.
Elections can’t come sooner!
I never read Galt’s Gulch, but I’ve been to Glitter Gulch. I learned a lot there.
…but if Galt — who is portrayed as the ultimate self-made man — needs a maid, then why does he require help?
Why does he even need oxygen? Isn’t he magically super human? Why didn’t Rand write a 5,000 page novel outlining the water and sewer system mechanics? Was there electric? If not, who chopped the wood? Did they have Pepto Bismol? Come on, Rand! Was there a typo on page 237? Maybe we should scour it closely? Maybe we need to read a book on communal utopia and admire how every morsel of detail is painstakingly explained. Maybe the Rayhan Mandumi administration will illustrate it beautifully before our very eyes. Maybe Mandami will rename New York to Metropolis and unite the workers and evil elites as one!
Enough with the kool aid. It stinks.
And there goes separation of church and state…
https://apnews.com/article/irs-religious-leaders-political-endorsements-trump-6e4f0edc51fff936cd6a0e174dc43dcc
How do we recover from this enshitification of Amerika?
So Epstein was an access agent? Fits the bill (no pun)
https://www.reddit.com/r/news_of_world/s/bhw7uMzTaT
Guess #1 – your autobiography
Guess #2 – summary description the sum of your NJ RE Report posts to date.
Fabius Maximus says:
July 9, 2025 at 4:27 pm
Long winded and meandering with endless meaningless monologues. In the end the whole premise while a cute concept is unsustainable and unworkable in real life.
Gary
No one expects Rand to detail every minor logistical aspect of Galt’s Gulch. It’s fully that you are running to that argument this early. It’s not about debating the lack of oxygen, or whether there’s a hidden Pepto Bismol stash in the Gulch. However, when discussing Rand’s philosophy of self-sufficiency and individualism in the context of real-world politics and societal structure, we are talking about more than just a fictional world. The book, and its underlying political ideas, reflect a very specific worldview that has real-life political implications, both historically and currently. When someone adopts Rand’s ideals or tries to apply them to the real world — as we’ve seen with various political movements or policies — the lack of a coherent system to address basic human interdependence is what matters. The critique isn’t about nitpicking fictional details, but about examining the broader, often unexamined, flaws of the political philosophy Rand espouses.
Yes, utopia sounds great on paper — a world where everyone is highly productive, self-sufficient, and free from the constraints of collectivism. But as history has shown time and again, these idealistic societies tend to fall apart when faced with real-world complexities. Utopias often fail due to basic planning missteps, which is where Rand’s philosophy can seem dangerously disconnected from reality.
For example, consider the Soviet Union, which started as a revolution in pursuit of a utopian society where everyone was equal, and resources would be distributed according to need. Theoretically, this sounds great, but it faltered for many reasons, such as the failure to account for human nature and the complexity of managing an entire economy. Centralized planning led to inefficiencies, stagnation, and eventual collapse. The lack of market forces to regulate production meant that the system couldn’t adapt to changing conditions, leading to shortages, widespread poverty, and a lack of innovation. The very people who were supposed to benefit the most from collectivism — the workers — ended up suffering under the weight of bureaucracy and totalitarian control.
A more recent example would be the challenges faced by collectivist systems like Venezuela, which, though not explicitly a “utopia,” did attempt to create a society that prioritized equality and wealth distribution over individual incentives. This from a county with such deep Oil Reserves. In practice, it has resulted in economic collapse, widespread food shortages, and hyperinflation. The government’s failure to address basic market mechanics or incentivize individual productivity led to an economy in freefall, where the idealistic goals of fairness and equality resulted in the very opposite: scarcity, deprivation, and dependency on a failing state.
Chi, thats funny,
first from you towards me in a long time.
fully = funny
…did attempt to create a society that prioritized equality and wealth distribution over individual incentives.
“I’ll take the ‘democrat platform’ for $1,000, Alex.”
Is there a lesson to be learned here Phoenix?
School board member was arrested. Facebook rumors are he was headed over to his “his wife’s lover’s house” with a gun, a 380 Ruger and brass knuckles. PoPo was called and his car was stopped. Gun was not legal and is now facing several criminal charges.
https://nj1015.com/joseph-fitzgerald-gun-arrest/
Ten 435
I just want to point out that with all the histrionics about the US debt, the most relevant barometer of sentiment is captured in a number that has literally not moved in 2025. I understand that the real discussion right now is the long-term implications and not just what’s going on this year, but it’s so funny. It just underlines the necessity of not listening to what people say but watching what they do, in this case where they put their money.
Juice Box says:
July 10, 2025 at 8:16 am
Is there a lesson to be learned here Phoenix?
Sure, and a movie title that fits If that is your thing.
Run Silent, Run Deep.
Great movie.
Chi – Government Debt works until it doesn’t and then big brother steps in and fires up the printing presses. We still have a debt hangover from the housing aka finacial crisis and Covid.
Powell won’t wind down the balance sheet on his watch. He will be gone early next year into retirement and the debt will remain. The buyer of last resort will have no choice to print even more money when the next crisis comes.
What we are learing here is these large deficits will not be allowed to jeopardize
our standard of living today. We will just contine to paper over the mistakes and kick the can down the road.
Everyone gets a pony, but nobody ever says that pony lives for 30 years and is generational debt….your grandkids will pay for it….
https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
Well, this isn’t where I would put my money.
The legal system in America is interesting. You put money in, expect it back, and it gives it away to someone else for you- all happens with no one going to prison.
Designed for white collar theft perfectly.
A retirement community on Long Island has filed for bankruptcy, wiping out millions of its elderly residents’ savings.
Its elderly residents each paid a substantial entrance fee – between $425,000 and $1.7 million depending on the package – as well as thousands of dollars in monthly fees.
Entrance fees can be refunded to family members on a resident’s death or returned to the retiree if they choose to leave the facility.
Arlene Kohen, an 89-year-old resident at Harborside paid the standard $945,000 entrance fee by selling her Great Neck home for $838,000, according to The Wall Street Journal.
Following the bankruptcy her family now expects to receive less than a third of the $710,000 refund the facility promised her.
However, when a facility such as Harborside enters bankruptcy the process ensures that secured creditors are paid before residents.
This can mean that once debtors are paid the money due to families has been decimated.
Juice Box says:
July 10, 2025 at 9:47 am
Chi – Government Debt works until it doesn’t and then big brother steps in and fires up the printing presses. We still have a debt hangover from the housing aka finacial crisis and Covid.
Obama let them all walk.
Proof Democrats are crooks.
NICE 169.44 -> 166.64 (Can’t win them all) = -2%
MP 24.47 -> 46.59 Now that’s a spicy meatball = 90%
Crytpo 97,871 -> 111,173 = 14%
“Libturd says:
February 4, 2025 at 5:23 pm
And since the Cult is about to get their asses reamed financially, I have two stock picks. NICE and MP. Wait for a pullback in the latter. Forget gold and meme coins (wtf is a meme coin?) and crypto and invest in great American companies that profit right here in America.”
This former janitor would have been a fucking star on Wall Street.
And SOFI is up to 21. Walking? Is that one you bought?
Boomer didn’t wanna pay. Children die. It’s the adults fault.
Kerr County struggled to fund flood warnings. Under Trump, it’s getting even harder
Lib, did you predict MP before US Dept of Defense announced the deal?
I thought of MP in early February based on the tariff madness.
MP was a good call. DoD saved the day again. Chamath and you must be happy. I owned it years back and sold it when it had a previous high.
What do you see in SOFI in the future? Also wanted to get your take on ZETA, HOOD and NU?
these retirement homes are a scam and a half.
New tax break coming:
Currently, an investor who bought stock for $1,000 in 1980 and sold it for $10,000 today would owe capital gains taxes on the increase in value of $9,000. But under the proposal pitched by Norquist and others, the calculation would start by adjusting up the value of the original purchase to account for inflation — which would reduce the amount of gain that’s taxable after selling the stock.
Although a 1992 Justice Department opinion found that such a change would require an act of Congress, Norquist and other conservatives want the Treasury Department to execute such a policy unilaterally if necessary, providing a major windfall for people selling stocks, art, businesses, homes and other assets.
BlackRock shunning US Treasuries and buying EU bonds instead.
What do they know?
Lib: Not really a fan of a lot of financial stocks, but I bought SOFI based solely on your recommendation, which is something I never do.
BRT: A fair number of these retirement homws sell tax exempt bonds to finance the construction of these things. They issue the bonds through conduit borrowers that can be state or local entities . in order to receive the tax exemption. These conduit issuers are not on the hook for payment of interest and principal if the facility goes bankrupt. Arizona Industrial Development Authority and Wisconsin HFA are the two largest conduit issuers in the market today. The Wisconsin entity was the conduit issuers for the American Dream facility which is in bankruptcy. Some of these bond offerings can only be bought by accredited investors, while others can be bought by mom and pop retail.
BRT – But It’s “The Harborside”….Location, location, location, otherwise you are stuffed into a care home on the side of Long Island Expressway in gasp QUEENS….
https://www.google.com/maps/place/The+Harborside/@40.8287921,-73.6791439,5380m/data=!3m1!1e3!4m6!3m5!1s0x89c288b2aaa100fb:0x88543e47defd4b16!8m2!3d40.827343!4d-73.664499!16s%2Fg%2F1th5_qw9?entry=ttu&g_ep=EgoyMDI1MDcwNy4wIKXMDSoASAFQAw%3D%3D
First the government devalues our money via inflation, then the government taxes the illusory “gains” to investment that inflation creates. Then Dark Cuckoo complains that someone might get relieved of that unfair tax burden, after whacking off to a Chinese tik-tok propaganda video.
Juice: Or your family might stuff you in a crappy nursing home, and move into your house, and have you pay for the nursing home and the property taxes and maintenance all with your money. Forget about elderly people being scammed by strangers, far more are probably scammed by family.
As for Harbor side if there was a bond offering probably one of two firms that underwrote it. It is a nice market, but has the highest default rate in the municipal bond market.
3B – It’s the “silver tsunami” of the boomers. They are going to take out everything with them.
What is even crazier is the population of those 65 and older is expected to double in the next 30 years or so.. I will be one of them… I am headed for the hills…no nursing home on a golf course or on the side of a highway for me..
News says Harborside went bankrupt three times in the last decade. Hundreds of millions in debt. It only has 329-units so to me it seems the model is to bilk the seniors out of all their money and then go bankrupt.
Juice: I hear ya! It’s sad though, but I see some really wonderful seniors who are being financially abused my their children,not just one child either.In one case its 3 out of the 4 adult children who are financially abusing their Mother. I don t know how they sleep at night.
No. There are good ones. You need to do due diligence. No different than buying into a condo community. The professionals in elder care knew what going on over there -trust me- . The people that got scammed couldn’t have done anything but the most cursory checking around. To be honest, it must have been evident in the daily care that residents received……. these things don’t happen overnight.
BRT says:
July 10, 2025 at 11:20 am
these retirement homes are a scam and a half.
3b,
You make it sound like every parent is nice. Plenty are like the mother in Two & Half Men and they deserve to be taken to the cleaners because many of the assets they were able to build was at the cost to their kids, like not paying child support prior to the sheriff kicking down your door to enforce payments, etc. It is well known that wealth changes how people view relationships from love based to business transactions.
The Netflix series “The Crown” got that very right. But at the same time marriage was always number one a business transactions, it became romantic love in the 20th century. Hell Dark Phoenix would be happier if he had known that his marriage was going to be a business transaction with well known expectations vs. a love based hall of mirrors.
The strategy if you have money is not to hoard it, but to give it away in stages to the kids, grand kids to create a comfortable start of life that would allowed then to explore, get their footing and accept their failures but not end up in a catastrophic bind. While transfer of the estate slowly happens – aka the Trump Family way and have less at the end that can trigger bad behavior from the inheritors to be.
One of the points of the New York Times series of articles about the Trump family finances was their asset transfer structure. From birth, that kids was a recipient of earnings in many forms from multiple family businesses and had tax deferred compensation plans to go with it. All of course tax deductible business operations.
100% endorsed by me
CleanTheWealthyGeezersOut TheyAreNotThatInnocent says:
July 10, 2025 at 12:45 pm
The strategy if you have money is not to hoard it, but to give it away in stages to the kids, grand kids to create a comfortable start of life that would allowed then to explore, get their footing and accept their failures but not end up in a catastrophic bind. While transfer of the estate slowly happens –
3B,
For the record, I am going to sell half of my SOFI position today. There are still regulatory risks with their heavy loan structure. I think the reason it’s flying now is due o all of the college loan refinancing now that people have to pay them again. Nonetheless, you chose wisely. SOFI is the best performer of my recent round of picks. Keep in mind, everything I suggest is very low risk. Compared with all of the speculative craziness that is driving markets today.
I’ll report back on those others later today, but Hood is nothing more than gambling. I wouldn’t touch that stock with a ten foot poll. They are the brokerage of the stupid. Of course, there is a whole lotta stupid out there.
No One
Where was the complaint? I posted a statement you dolt.
MY 401K!! MY 401K!!
Oh… never-mind.
Homer,
“What do you see in SOFI in the future? Also wanted to get your take on ZETA, HOOD and NU?”
SOFI will be the largest of the Online Only Financial Services Company for two reasons. They already are and it’s simply a great product. One day, Chase will be gone and SOFI will be sponsoring the US Open. For now, they are overvalued and have a history of pulling back hard at every earnings announcement, even though they ALWAYS blow through expectations. I think the reason the Street gives them such little credit is because the street is brick & mortar and they simply have issues parting with the old ways, especially in the financial sector. I currently think they are worth between 15 and 20. You’ll be able to buy back in at 15 on earnings day, most likely, when everyone, once again, says they are overvalued,
ZETA is Agile. Small moat there especially with the growth of AI. Revenues are slowing and EPS is disappearing. One-trick pony that doesn’t manage their business well. Get out.
NU makes financial services available to the lower income earners across Latin America. It’s a good business model and long-term, the only real pick of your three. Negatives, currently overvalued, erratic performance and slowing growth. Positives, great idea and decent execution so far.
Mark my words. One day, crypto is going to halve in the not so distant future.
“MY 401K!! MY 401K!!”
Let’s see what it looks like after we actually start collecting increased tariffs.
On the bright side, I get to roll mine over into an IRA. Booyah. Full control.
Chifi – I currently have many millions in Schwab. Any reason to be in multiple brokerages? SIPC covers 500K. Do I really need to split my accounts into multiple brokerages? I see even joint accounts are 500K limited. Tax time is going to suck otherwise, though, there are great bonuses when you join new brokerages with large amounts.
What say you?
And market still performed much better under Oblammy and Sleepy Joe.
BREAKING:
It was another big day on Wall Street. The S&P 500 (^GSPC) closed at a fresh record
Orange man now making up stuff against Powell so he can fire for cause.
https://www.cnbc.com/2025/07/10/trump-fed-powell-omb.html
But as long as the 401K of peasants are doing fine, nobody complains.
Post 100.
Clean the wealthy geezers out: I am not talking about bad parents, however one defines that. I am talking about good honest parents that did much for their children, in fact I would argue perhaps too much.
And even for the bad ones , however that’s defined one does not get to rationalize abusing their parents financially and otherwise because they were supposedly bad. You don’t get to decide that because they were bad in your mind, it’s ok that they be abused. With that attitude a lot of crimes can be rationalized. As for bad parenting, it seems to be in many cases an American cry baby thing.
Chgo: There are also some bad ones out there. And many retail investors don’t do their due diligence, and neither do some of the sales people. There are retail buyers and salespeople out there who believe because they are municipal bonds they are backed by the issuer, what is in fact the conduit issuer.
The Orange purge is spreading. A few more folks I worked with in the past got the axe.
Companies making a killing on the payroll savings, but only a matter of time before the unemployed cut back and bring down company revenues. Not sure when these soft signals will become hard numbers. A quarter perhaps?
How about the tariffs on Brazil where we have a trade surplus?
Hmmmm.
Burgers and coffee are headed up in price among other things. Unless.
TACO.
No warrant, no abduction.
This is how citizens need to band together against illegal kidnappings
https://apnews.com/article/ice-arrest-california-surgery-center-c827038f1a40227dc05ab1c28b048035
Lib: thanks for your detailed comments, greatly appreciated.
“Mark my words. One day, crypto is going to halve in the not so distant future.”
I completely agree, there is a great bubble on crypto and stablecoins. Artificial value and volume and size can shake the market now.
Today I listened to a priest who was very wise and surprising. Never knew theology and value investing can be mixed so nicely. https://www.youtube.com/watch?v=zae8MEh1P0k
ExLAX:
https://m.youtube.com/watch?v=Vt69FeFz-ko&pp=0gcJCdgJAYcqIYzv
Ominous sign from CWS?
“ Things may change soon. Q2 Earnings season starts next week. It will be nice to have something in the headlines that’s not about tariffs. In this week’s issue, I’ll talk about how Wall Street analysts have been slashing their forecasts ahead of earnings season even more than usual”