Tag: Ridgewood Moms and dads

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“Municide” not so sure its out of the question
July 14,2012
James Foytlin

Ridgewood NJ, On Tuesday San Bernardino became the third California city in less than a month to seek bankruptcy protection, with officials saying the financial situation had become so dire that it could not cover payroll through the summer and the city is facing a $46-million deficit.

So this begs the question with residential real estate at decade low valuations and commercial real estate still falling it seems only a matter of time before the dominoes begin to fall.

Ridgewood itself is experiencing a massive amount of tax appeals which some question whether the Village is underestimating our liability.

While vested interests and Muni Market promoters attacked Meredith Whitney for most of 2011 because of her ill timed call as to what some have called “Municide”, where she dared to predict that catastrophic muni default rates were in the cards.

Many argue that the size ,depth and variety of the muni bond market as well as the lack of institutional players coupled with insurance and the states infinite ability to tax makes a massive muni default or “Municide ” highly unlikely ,even sighting the lack of defaults during the Great Depression as proof.

The current low interest rate environment has done much to prop up muni prices. but with the print your way out of trouble attitude coming from Washington logic suggests it only a matter of time before price inflation begins to spiral and the breaks will have to be applied by ratcheting up interest rates.

Low valuations of residential property are pressuring property tax revenues ,with massive unemployment the states ability to continue to raise taxes seems to be challenged by a the law of diminishing returns . Add to that a fleeing population to lower tax destinations leaving an ever larger tax burden for those left behind .

Now add to this scenario the new willingness of towns, cities and county’s to seek bankruptcy protection and I am not so sure a “Municide” is out of the question ?

Americans Will Work More than 6 Months to Pay Cost of Gov’t in 2012
By Sabrina Gladstone
July 12, 2012

(CNSNews.com) – This year, Americans have to work until July 15 to pay for the burden of government, more than six months.

In a new report, Americans for Tax Reform (ATR) has calculated that Americans will spend a total of 197 days toiling to pay for the cost of government.

“Cost of Government Day is the date of the calendar year on which the average American worker has earned enough gross income to pay off his or her share of the spending and regulatory burden imposed by government at the federal, state and local levels,” reads the report.

The report, Cost of Government Day, shows that Americans will work 88 days to pay for federal spending; 40 days for state and local spending; and 69 days for total regulatory costs.

“From a different perspective, the cost of government makes up 54.0 percent of annual gross domestic product (GDP),” reads the report. “What’s more, the largest tax hike in the nation’s history is scheduled to take place at the end of 2012 unless Congress acts to protect taxpayers. If this tax increase is allowed to hit, COGD [Cost of Government Day] could permanently be pushed back into August and beyond.”

https://cnsnews.com/news/article/americans-will-work-more-6-months-pay-cost-govt-2012

“Late Show with David Letterman” has made 327,832 fat jokes about Chris Christie

Chris Christie “by the numbers”

The New Jersey governor’s office somehow managed to determine that the “Late Show with David Letterman” has made 327,832 fat jokes about Chris Christie. As for the number of questions he’s received about running for either president or vice president? His aides could only summarize, “Too many to count.”

A press release titled “Chris Christie by the numbers” went up on the governor’s website Wednesday, taking “a look back at everything across three balanced budgets.” Ranging everywhere from Twitter followers (125,820) to bills vetoed (39) to Politifact.com ratings of “Pants on Fire” (four), the list boils down to the apparent point of the list: “Tax increases: 0.”  (Boerma, CBS News)

https://www.cbsnews.com/8301-503544_162-57470585-503544/chris-christie-by-the-numbers/

Proposed changes of leaf collection on Ridgewood Village Council agenda tonight
June 11,2012
the staff of the Ridgewood blog

Ridgewood NJ, tonight’s Village Council work session will look to address some nagging issues in the Village like leaf collection and some new ideas put forward by New Jersey Transit (NJT) for advertising and cleaning up the pedestrian underpass at the train station.

New Jersey Transit (NJT) will make a presentation at the Village Council work session tonight on proposed advertising program for the pedestrian underpass at Ridgewood’s train station.

The Village Council will also discuss the proposed changes to Ridgewood’s leaf and debris collection policy. After years of public criticism and much debate Village Public works officials last month began a push to end the old way of collecting loose leaves at curb side and require residents to bag leaves for pickup.

In a blow to the development of North Walnut Street and Franklin Avenue property ,known as the “Town Garage ” the Ridgewood News is reporting that environmental officials have said that several large fuel tanks located beneath the parking lot at North Walnut Street and Franklin Avenue must be removed. The site remediation is expected to be a long and costly process with sources estimating anywhere from $600,000 to $800,000.

The property already has a rather checker past and has been stuck in a zoning no mans land since 2009 .

The Village Council work session begins at 7:30 p.m. in the Sydney V. Stoldt Courtroom.

“Dr. Doom” Nouriel Roubini: My ‘Perfect Storm’ Scenario Is Unfolding Now
Published: Monday, 9 Jul 2012
By: Ansuya Harjani
Assistant Producer, CNBC Asia

“Dr. Doom” Nouriel Roubini says the “perfect storm” scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China.

In May, Roubini predicted four elements – stalling growth in the U.S., debt troubles in Europe, a slowdown in emerging markets, particularly China, and military conflict in Iran – would come together to create a storm for the global economy in 2013.

“(The) 2013 perfect storm scenario I wrote on months ago is unfolding,” Roubini said on Twitter on Monday.

Chinese inflation data released on Monday, suggested that the economy is cooling faster than expected, while employment data out of the U.S. on Friday indicated that jobs growth was tepid for a fourth straight month in June.

Roubini said that unlike in 2008 when central banks had “policy bullets” to stimulate the global economy, this time around policymakers are “running out of rabbits to pull out of the hat.”

https://www.cnbc.com/id/48116835

Anti-bullying law runs out of cash

The deal was announced in the governor’s office in early March, a bipartisan agreement to save New Jersey’s anti-bullying law with an infusion of cash and a promise to take a harder look at ways the state can support school districts.

Four months later, the cash for last year has been spent, none is appropriated for the next, and the task force created to examine the law and its impact is still to meet.

Such has been the checkered history of the new law, considered one of the toughest in the country for its strict rules to investigate and closely track accusations of bullying.  (Mooney, NJ Spotlight)

https://www.njspotlight.com/stories/12/0705/2114/

Anxiety Mounts as US Economy Limps Into 2nd Half
Published: Thursday, 5 Jul 2012 | 5:41 PM ET Text Size
By: Reuters

A slew of weak U.S. economic data is casting doubts over expectations of a pick-up in growth in the second half of the year.

From manufacturing to job growth to consumer spending, the numbers have been grim, and economists are wondering whether they need to dial down forecasts for the remainder of the year.

“Our sense was that of a gradual improvement. Now the sense is of muddling along at a low level of activity,” said Adolfo Laurenti, deputy chief economist at Mesirow Financial in Chicago. “We went from seeing progress, though gradual and very uneven, to not seeing progress at all.”

The economy grew at a 1.9 percent annual pace in the first quarter and estimates for the April-June period are increasingly coming in around 1.5 percent.

https://www.cnbc.com/id/48086345

American Red Cross Concentrated Lifeguard Training Course
Wed, July 11, 2012 – Fri, July 20, 2012
Time: 12:00 AM
YWCA Bergen County, 112 Oak Street
Cost: $370 per person

The YWCA Bergen County is offering an American Red Cross Concentrated Lifeguard Training course beginning July 11th, 2012. Participants must be age 15 or older and take and pass a swim test on Saturday, July 7th at 1:30pm. A $10 test fee is due at registration.

This five-day concentrated course prepares students with the CPR, First Aid and lifeguard techniques necessary for employment as a professional lifeguard. Classes will be held July 11th, 13th, 14th, 18th and 20th from 9am to 5pm at 112 Oak Street, Ridgewood. The course fee is $370. Call the YWCA Aquatics Department at (201) 444-5600, x3270 or visit www.ywcabergencounty.org for details.

The YWCA Bergen County is dedicated to eliminating racism, empowering women and promoting peace, justice, freedom and dignity for all. We are the area’s largest provider of child care services, a recognized leader in health and fitness programs, and operator of the county’s only Rape Crisis Center. Celebrating nearly a century of commitment to our community, today we improve the lives of thousands of women, girls and their families.

8,733,461: Workers on Federal ‘Disability’ Exceed Population of New York City
By Terence P. Jeffrey
July 2, 2012

(CNSNews.com) – A record of 8,733,461 workers took federal disability insurance payments in June 2012, according to the Social Security Administration. That was up from 8,707,185 in May.

It also exceeds the entire population of New York City, which according to the Census Bureau’s latest estimate hit 8,244,910 in July 2011.

There has been a dramatic shrinkage in the United States over the past 20 years in the number of workers actually employed and earning paychecks per worker who is not employed and is taking federal disability insurance payments.

https://cnsnews.com/news/article/8733461-workers-federal-disability-exceed-population-new-york-city