In addition to the massive unfunded liabilities New Jerseyans face for their lavish government employee retirement programs New Jerseyans are now faced with the prospect of a bankrupt Atlantic City.
A testament to the evil incompetence that Crony Capitalism leads to. All of America should pay heed to the results of this government run economic development effort.
As a business financial planner For the past 30 years I have watched the rise of crony capitalism as government increasingly controlled economic development efforts; the results are the decline and decay we see and feel all around us today.
To the degree possible we need to get government out of the markets. America works best when Governments role is regulating the 'field' the markets, evenly. Not manipulating the markets and picking the winners and losers behind closed doors. That is a tenant of fascism.
We need to reach the young minds, todays teens and 20 somethings, where their interests are, technology and games. Help me reach out and spread the truth of Christian history and the battles and perils of fighting fascism throughout the ages. After all at the core, it was fascists that ruled Rome and murdered Jesus. (the term fascism actually comes from ancient Roman times, the Fasces, the Roman symbol of collectivism and power. )
Join me on
VideoOnix.com http://www.VideoOnix.com
It is fun tech, Spacey even, and lots of info on the new business financing laws too. If you think the bankers are a big part of the problem, the new series of laws will help put them in their place.
That is if Americans rally around freedom, otherwise we are toast.
By the way, the new investment laws called the JOBS ACT of 2012 create a lot of new opportunities for small investors too, opportunities to invest in startups. Very big changes that everyone should know about.
One last thought, you might like this old adage I like to use
'Doing something, does something.'
Press On!
Showing posts with label new jersey pensions. Show all posts
Showing posts with label new jersey pensions. Show all posts
Friday, February 05, 2016
Wednesday, December 03, 2014
New Jersey; More Bad News
More bad news for New Jersey surfaced last week as part of the disclosure paperwork released by the state as it prepares for a $535 million dollar general obligation bond issue. In the filings with the SEC it was reveled that the state's pension plans, now subject to new GASB accounting standards, are in much worse shape than previously thought. According to Reuters the funding level is nearly 20 percentage points lower than previously estimated. It is reported at just 44% funding for fiscal 2014.
This new level is even in dispute as an article from John Bury, a state pension expert that created the BuryPensions Blog, claims the funding level is just 32.6 percent of what is promised to government employees.
New Jersey is considered to be among the worst prepared and among the least well funded public pension systems of all states.
It does not take a crystal ball to know that when the stock market experiences a sharp decline or, as many financial pundits expect, the mega crash hits, this low level of funding will likely be catastrophic.
In advance of the pending calamity I think it is reasonable to ask how much this pension system and it's inequities to the private sector is behind the dismal economy and dire loss of opportunity that the people of New Jersey face?
America's Poster Child of Decline; Bankrupted Morals and Bankrupted Finances
RESOURCES
Pension & Investments
http://www.pionline.com/article/20141126/ONLINE/141129877/new-gasb-rules-result-in-new-jerseys-funded-status-plummeting-to-44
Reuters
http://www.reuters.com/article/2014/11/26/usa-new-jersey-pensions-idUSL2N0TF23620141126
BuryPensions Blog
https://burypensions.wordpress.com/2014/11/26/32-6-funded-ratio/
This new level is even in dispute as an article from John Bury, a state pension expert that created the BuryPensions Blog, claims the funding level is just 32.6 percent of what is promised to government employees.
New Jersey is considered to be among the worst prepared and among the least well funded public pension systems of all states.
It does not take a crystal ball to know that when the stock market experiences a sharp decline or, as many financial pundits expect, the mega crash hits, this low level of funding will likely be catastrophic.
In advance of the pending calamity I think it is reasonable to ask how much this pension system and it's inequities to the private sector is behind the dismal economy and dire loss of opportunity that the people of New Jersey face?
America's Poster Child of Decline; Bankrupted Morals and Bankrupted Finances
RESOURCES
Pension & Investments
http://www.pionline.com/article/20141126/ONLINE/141129877/new-gasb-rules-result-in-new-jerseys-funded-status-plummeting-to-44
Reuters
http://www.reuters.com/article/2014/11/26/usa-new-jersey-pensions-idUSL2N0TF23620141126
BuryPensions Blog
https://burypensions.wordpress.com/2014/11/26/32-6-funded-ratio/
Labels:
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economy,
New Jersey economy,
new jersey pensions,
Pensions,
world economy
Thursday, November 06, 2014
New Jersey; It's You People, Stupid. New Jersey is a poster Child for Liberal Failure.
UPDATE
APRIL 12, 2016:
BAD NEWS CONTINUES
American Legislative Exchange Council's 9th Addition of Rich States Poor States shows New Jersey continues to help hold down the bottom of the list this year declining to 48th worst state. A pitiful performance from what once was a great state. Destroyed by decades of leftwing lies and liberal ignorance.
LINK - American Legislative Exchange Council's 9th Addition
------
PREVIOUS: This article published first in 2014 but it still applies - New Jersey people, you should be embarrassed.
More bad news for New Jersey, again ranked as one of the highest taxed and worst performing economies in the nation according to the Tax Foundation study released last month. Add to that the mounting evidence outward migration is increasing. Continuing decline is in your tarot cards.
My most recent U-Haul rate study indicates it is 3.86 times more expensive to leave New Jersey for Austin Texas than it is to go to New Jersey from Austin Texas. Nearly 4 time more expensive getting out than getting in. What's that tell you?
That is a 53% increase in the U-Haul costs from this same time last year.
Granted, it is not a scientific study, all the same, people are leaving New Jersey at a staggering rate. I have run this study 2 times a year for the past 4 years. It has never been this bad. In fact it has been fairly stable at a 2.5 times ratio for the past two years right up through June 2014 when I ran the study last. Since then we see this jump, a spike in getting the hell out.
Is it just the high taxes and regulatory climate? No, I don't think so, New Jersey has lots going against it in addition to high taxes. For one thing there is a crooked croniness in NJ, an embedded corruption that permeates the society. Northern New Jersey where I went to High School has developed a culture of "Me, Me, Me". A selfish, ignorant callousness of much of the population combined with an intellectual laziness. That narcissistic culture is particularly annoying, people just didn't care about anything outside their self-centered personal worlds.
It is ironic that the generation of peace and love that grew out of the 60s and 70s has become the generation of "I don't care...it's all about Me, Me, Me".
It is this self absorption on steroids that undermines the sense of community that is now it is coming home to roust.
Why do I dwell on this issue, New Jersey the poster child of liberal failure?
There is an old adage; you can not fix a problem unless you identify the problem. In decades of civic involvement in Chambers of Commerce and in other 'quasi' government organizations I've seen and experienced repeated patterns. The same situation plays out over and over again. Critical social problems are obfuscated and faux efforts at solutions deployed. It's an organized, intentional form of social insanity. If you continue to do the same thing over and over again and expect different results - we all have heard it, that is insanity.
Back to the old adage, you can not fix a problem unless you identify the problem. The problem is the intentional efforts of the progressive leadership. The culture that grows from progressive liberalism which I think many of us believe is the center of New Jersey's and much of America's problems. That is why I dwell on it. The problem is the type of people that lead areas like New Jersey and Northern California and Urban Illinois. It's the people, Stupid.
When you create a society that is blinded to itself it is easy to control that society and that is what progressives have done to the people of New Jersey and much of liberal America. Progressives have transferred the responsibility of awareness from the people and replaced it with a sense of entitlement. With the entitlement there is little reason to think beyond ones self interest hence the perspective of "whats in it for me?" Progressive liberals campaign on that premise and the self absorberd buy it. . .
If you want to fix this problem you have to call it out, you have to point the finger of blame, you have to put the cause on notice. It's the people, stupid.
Simple answer: If you don't want their fate, don't do what they do.
That is why I dwell on it. I want the people causing the problem to be spotlighted for what they are.
It's the liberals, Stupid.
My most recent U-Haul rate study indicates it is 3.86 times more expensive to leave New Jersey for Austin Texas than it is to go to New Jersey from Austin Texas. Nearly 4 time more expensive getting out than getting in. What's that tell you?
That is a 53% increase in the U-Haul costs from this same time last year.
Granted, it is not a scientific study, all the same, people are leaving New Jersey at a staggering rate. I have run this study 2 times a year for the past 4 years. It has never been this bad. In fact it has been fairly stable at a 2.5 times ratio for the past two years right up through June 2014 when I ran the study last. Since then we see this jump, a spike in getting the hell out.
The study though not scientific is a fair indication of the effects of supply and demand. It focuses on the U-Haul rates to and from Austin Texas and several key areas, Northern California, Chicago, Illinois and Wayne, New Jersey. Three areas ranked as having excessive regulatory and anti business climates.
Is it just the high taxes and regulatory climate? No, I don't think so, New Jersey has lots going against it in addition to high taxes. For one thing there is a crooked croniness in NJ, an embedded corruption that permeates the society. Northern New Jersey where I went to High School has developed a culture of "Me, Me, Me". A selfish, ignorant callousness of much of the population combined with an intellectual laziness. That narcissistic culture is particularly annoying, people just didn't care about anything outside their self-centered personal worlds.
It is ironic that the generation of peace and love that grew out of the 60s and 70s has become the generation of "I don't care...it's all about Me, Me, Me".
It is this self absorption on steroids that undermines the sense of community that is now it is coming home to roust.
Why do I dwell on this issue, New Jersey the poster child of liberal failure?
There is an old adage; you can not fix a problem unless you identify the problem. In decades of civic involvement in Chambers of Commerce and in other 'quasi' government organizations I've seen and experienced repeated patterns. The same situation plays out over and over again. Critical social problems are obfuscated and faux efforts at solutions deployed. It's an organized, intentional form of social insanity. If you continue to do the same thing over and over again and expect different results - we all have heard it, that is insanity.
Back to the old adage, you can not fix a problem unless you identify the problem. The problem is the intentional efforts of the progressive leadership. The culture that grows from progressive liberalism which I think many of us believe is the center of New Jersey's and much of America's problems. That is why I dwell on it. The problem is the type of people that lead areas like New Jersey and Northern California and Urban Illinois. It's the people, Stupid.
When you create a society that is blinded to itself it is easy to control that society and that is what progressives have done to the people of New Jersey and much of liberal America. Progressives have transferred the responsibility of awareness from the people and replaced it with a sense of entitlement. With the entitlement there is little reason to think beyond ones self interest hence the perspective of "whats in it for me?" Progressive liberals campaign on that premise and the self absorberd buy it. . .
If you want to fix this problem you have to call it out, you have to point the finger of blame, you have to put the cause on notice. It's the people, stupid.
Simple answer: If you don't want their fate, don't do what they do.
That is why I dwell on it. I want the people causing the problem to be spotlighted for what they are.
It's the liberals, Stupid.
Labels:
Democrat,
economy,
New Jersey,
New Jersey economy,
new jersey pensions,
New York,
NJ,
Pensions,
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public employee pensions,
public employee unions
Tuesday, October 07, 2014
A 4 year old dies; America's first death from the 'Mystery Disease' occurs in New Jersey; Locals couldn't care less.
A four year old preschooler died in New Jersey and no one seems to care much. Sure there was the basic "I feel so bad for the parents" type of response but not much depth. Shuffled off the digital page as fast as a day. IN the end the interest level and compassion was little more than drivel from the mass uninformed.
Ignorance is Bliss
The masses ignored the issues and circumstances of his death. The "mystery Disease; The only "mystery" about this disease is why the main stream news media and CDC keep calling it a mystery.
Since his death 3 more children have died and over a dozen are experiencing paralysis in the Denver area alone. The CDC and main stream media continue with the "Mystery Disease" talk. They lowered the coverage to - 'nothing new here, now move along, move along' and the New Jersey sheep do so in all their blissiness.
Devolution
New Jersey and much of the poorly educated young culture today had devolved into the most uncaring society. Yesterday's hippies, the generation that 'cared' has turned into the generation of unaware and 'don't bother me about it'.
How a people can say that it is compassionate and caring when most of you can't even take the time to know what is going on... about anything. A miserable generation of self absorbed destined to be a failure. America as I see it needs a good dose of kick in the ass.
Champion the doers and the makers
Champion the doers, attack the plutocrats and the welfare ding bats. both ends need a haircut. Start with kickin' some banker butt ... click for video and some Zeppelin too.
http://youtu.be/MoMHtw6y7oA?list=UUoBaq0m2vVhi8YASWO3jSUA
Ignorance is Bliss
![]() |
| New Jersey a center of American Decay |
Since his death 3 more children have died and over a dozen are experiencing paralysis in the Denver area alone. The CDC and main stream media continue with the "Mystery Disease" talk. They lowered the coverage to - 'nothing new here, now move along, move along' and the New Jersey sheep do so in all their blissiness.
Devolution
New Jersey and much of the poorly educated young culture today had devolved into the most uncaring society. Yesterday's hippies, the generation that 'cared' has turned into the generation of unaware and 'don't bother me about it'.
How a people can say that it is compassionate and caring when most of you can't even take the time to know what is going on... about anything. A miserable generation of self absorbed destined to be a failure. America as I see it needs a good dose of kick in the ass.
Champion the doers and the makers
Champion the doers, attack the plutocrats and the welfare ding bats. both ends need a haircut. Start with kickin' some banker butt ... click for video and some Zeppelin too.
http://youtu.be/MoMHtw6y7oA?list=UUoBaq0m2vVhi8YASWO3jSUA
Labels:
Atlantic City,
casinos,
New Jersey,
new jersey pensions,
New York
Tuesday, August 19, 2014
Atlantic City Casino Calamity; New Jersey's Destructive Focus
The "ultra liberal" Star Ledger news paper in New Jersey ignores some of the most important news that faces the citizens of NJ.
As a leading source of print news for decades The Star Ledger is in large part responsible for the massive ignorance in New Jersey. A society of self indulged ignorance similar to those that precipitated the destruction of previous societies such as Rome and Ancient Greece.
What will help New Jersey turn around?
At the roots of the decline, the government employee pension system. Lies, deceit and crony capitalism from the progressives in government killed the goose.
As a leading source of print news for decades The Star Ledger is in large part responsible for the massive ignorance in New Jersey. A society of self indulged ignorance similar to those that precipitated the destruction of previous societies such as Rome and Ancient Greece.
What will help New Jersey turn around?
At the roots of the decline, the government employee pension system. Lies, deceit and crony capitalism from the progressives in government killed the goose.
Already ranked as the 48th least effective at job creation, earlier this month the newest and now bankrupt Casino sent a notice to it's employees that they be shutting down in September leaving another 3000 people unemployed. They apparently are seeking a white knight to bail them out, but who would buy? Atlantic City is under siege and has little to offer people to break through the barriers. Since then two more Atlantic City casinos announced closings too.
The reason why NJ casinos are failing is obvious just look at this map.
It's looks like a military strategy map.
The line line of casinos on Jersey's boarder is the economic equivalent of France's Maginot Line, but Pennsylvania's objective was achieved. The goal was to keep the natives in and also feed off Jersey's Princeton area too.
It was a stated goal of Pennsylvania back in 2003.
It was a stated goal of Pennsylvania back in 2003.
Was New Jersey listening? Apparently not.
NJ is where it is because of the people of NJ. Period. Ignorance is bliss but then it wears off.
Americas former great state is now one of the icons of America's collapse.
Nothing to be proud of New Jersey.
America is watching as liberalism destroys what had once been great. Will New Jersey help the rest of the country wake up to the perils of liberalism?
NJ is where it is because of the people of NJ. Period. Ignorance is bliss but then it wears off.
Americas former great state is now one of the icons of America's collapse.
Nothing to be proud of New Jersey.
America is watching as liberalism destroys what had once been great. Will New Jersey help the rest of the country wake up to the perils of liberalism?
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