Tanta Vive, page 2

edit: missed

Outsider wrote:

Gonna go destress in front of the grammys now.

enjoy the wake

skk wrote:

I never did sell the TransAm - couldn't bear to

That's good, skk.

No man should be asked to give up his motorcycle and his TransAm within the same 12-month period....

Even the twatterverse gets it:

“@maxkeiser: Goldman Sachs can take a victory lap. They managed to sack Athens and make billions doing it.” And the € goes WILD! Yay banks!

lawyerliz wrote:

Totally agree.

Yes--this was Varoufakis's argument; the Germans are bailing the Euro banks and their own--or buying time for them--by bailing out Greece. Or perhaps buying time, if you wish to put it that way. And the Greeks are can kicking.

Crying over spilt milk: My CNN.com piece on Greek sovereignty and the unholy alliance between German and Greek leaders « Yanis Varoufakis

Kauai_Kahuna wrote:

Sounds oh so tempting, but getting back into the work force after wards would be very difficult if not impossible. It would throw up so many red flag's

I did it after 4 years ! I know some of the tricks.

Tip #1 - Keep in touch with your contacts.

Tip #2 - Keep up with...

If you like people that shouldn't even be a chore - just business living as usual.

O yeah being in an esoteric LOB helps I guess - or a ubiquitous one.. wait.. did I do a economist impression there - OTOH this, OTOH that... I shall now go out and flagellate myself - its coming up to that time of year anyway isn't it. I said:

FLAGELLATE... pavel knows all about that..

Wow, stay classy Fox nation

Daily Kos: Oh, for Fox sake! Wingnuts disgrace Whitney Houston's grave with massive N-bombing

, you middle-aged CRowd.

yuan wrote:

Its only a matter of time before people who have nothing to lose switch from passive suicide to active suicide.

even more interesting, a ton of those are highly educated here in US. i'd short the status quo going forward if i could. big changes ahead imho.

lawyerliz wrote:

Couldn't they have paid themselves without the Greeks' humiliation?

does the word 'schadenfreude' ring a bell ?

Finance_Fan wrote:

how much on gas do you guys spend commuting each month?

About $200-$250 on my end.

Pearl wrote:

Besides--you go by the season of JFK's assassination--not the actual date.

That "season" I was in graduate school.

sportsfan wrote:

fried wrote:
Berlin is insisting that most of the money does not actually go to Greece but is held in a separate account and is used purely to service the country's debt.
They are amazing in their arrogance.

so learning that there's no willingness to pay back is called arrogance now? interesting!

Marijuana: prescription for an ailing economy? | SmartPlanet

YouTube - Country Joe - Rock And Soul Music - Woodstock 1969

Yeah baby.........

Finance_Fan - how much on gas do you guys spend commuting each month?

Now I suffer through a short 15 minute commute one way.
Before it was any were between 40 minutes to two hours. Took a pay cut in changing jobs, but there are some benefits like I don't manage anyone now.

It appears the Greeks have taken to burning banks. Well played.

Juvenal Delinquent wrote:

"Are you pre or post JFK?"

before or after he took Mimi Beardsley's virginity?

lawyerliz wrote:

They aren't loaning Greece anything. They are paying themselves.

Paying their banks to avoid a bank bailout that wouldn't make Germany and France's political class look good. Stick a fork in Greece, she's done. The debt will only go higher.

lawyerliz wrote:

They aren't loaning Greece anything. They are paying themselves.

and imposing an austerity regime on the Greeks for the privilege. It's almost enough to make you want to riot.

Kauai_Kahuna wrote:

I have the consideration of a clearance.

I had the same situation and took 6 months off with no problem- even came back to the same job.

BTW - this was in 1966

Flight flu 'just sniffles' | Stuff.co.nz

Passengers are downplaying a health scare that sparked a major response from officials at Auckland International Airport today.

A group of Japanese schoolchildren were believed to be at the centre of the scare, but they have since emerged through Customs, saying they are fine.

Passengers began coming through Customs at midday, and an Air New Zealand email at 12.39pm said all of the 274 passengers had been released, though health officials refused to comment.

Stuart Cundy, head of the homestay organisation hosting the Japanese students, said it was an overreaction.

**A few of the students had sniffles and maybe small colds because it was winter in Japan but none had flu-like symptoms, he said. **

Non flu-like symptoms, which apparently includes vomiting? I was going to provide a quote from the article which mentioned at least two passengers vomiting, but all references to vomiting have since been removed from the article.

Most passengers have now been released. I now anticipate a spike in H3N2 here in New Zealand in the near future.

GDD9000 wrote:

I seriously doubt it's preventing anyone from invading.

2nd that. their reckless government is the best tool to keep invaders at bay.

More perp walks at the Sun. Rupert Murdoch Flies to London to Stave Off Crisis at The Sun, After Five More Arrested -- Daily Intel

If it can't be our banksters or MFGlobal doing the cat walk, we can shine in the reflected refulgant glory of the Brits.

Duke of Con Dao wrote:

"Are you pre or post JFK?"

I'm definitely PRE- but I definitely went..

Kennedy WHO ?

well I was on the school bus in Pune India and in the competition to be aware of things Western - well my Forte was the UK and crikkit..

Who'd have thunk 30 odd years later, I'm in LA and when people at work are all agog about OJ and I'm going..

OJ who ?

Wonder if that event will become a defining one like the JFK one ? for Gen Y.

Comrade Kristina wrote:

It's robbery and it's shameful

Well, shameful perhaps, in how the process is being pushed. But as for robbery, it is money that is owed.

Finance_Fan wrote:

so learning that there's no willingness to pay back is called arrogance now?

No, that's called education. Keeping all the cookies in one's own jar to feed one's own banks was arrogant.

Greece Austerity has Passed

YouTube - Santana - Soul Sacrifice (Woodstock 1969)

Yeah baby..........

Kauai_Kahuna wrote:

lawyerliz - Couldn't they have paid themselves without the Greeks' humiliation?
Got to have a fall guy to blame it on.

it's also a great lesson for the rest. fudge numbers with total cockiness and humiliation will eventually come along.

Kauai_Kahuna wrote:

I have the consideration of a clearance.

Ahh well if you must work for the military-industrial-complex then on yer head be it.

No no no that comes out wrong. We all need to earn our daily crust in some fashion. After all I'm with FIRE ( but not the thank god - a man has his limits - or they their selection procedures ) . But somehow

FIRE < MIC ?

Hmm I dunno if that inequality holds.. whatever space I transform it into.

Kauai_Kahuna wrote:

Finance_Fan - how much on gas do you guys spend commuting each month?
Now I suffer through a short 15 minute commute one way.
Before it was any were between 40 minutes to two hours. Took a pay cut in changing jobs, but there are some benefits like I don't manage anyone now.

congrats! i'd have done the same. in my experience commuting is a waste of time, even trying hard to make the most of it i wasn't able to not consider it a waste, and also stressful. even your health will improve.

"Vandalism and destruction have no place in a democracy and will not be tolerated," Papademos told Parliament just before the vote.

Read more: Greece passes new austerity deal amid rioting - seattlepi.com

Comrade Kristina wrote:

It's robbery and it's shameful and I for one hope they burn every bank in the country to ashes.

include in the burning every Porsche Cayenne and undeclared boat. a clean start is needed.

skk, I have no problem working in MIC, in uniform or as a contractor. Not for everyone and some people think we are all baby eaters. That's their feelings and I don't really give a ....

lawyerliz wrote:

I don't understand Mary.

Lets take them one at a time - why not heh ? its a valid analysis technique.

What's with the Malcolm X post that you don't get ?

I get it - just like that. yeah yeah I would

Re: "Vandalism and destruction have no place in a democracy and will not be tolerated," Papademos told Parliament. "I call on the public to show calm. At these crucial times, we do not have the luxury of this type of protest. I think everyone is aware of how serious the situation is."

==> How come the bankers got away with their destruction and bullshit -- why was that shit tolerated?

LL - I find the police remarkable restrained.

Amazingly restrained would be an underestimation. I'm sure they get lot's of practice and good training but I don't think I would react as well if someone was throwing fire bombs at me.

josap wrote:

Finance_Fan wrote:
does it mean that if measures signed don't get implemented the Germans don't transfer that $, hence Greeks defaults automatically?
Possibly, but the money is needed by the German and French banks, EBC and IMF, So I think it gets paid out.

sure, it'll be paid out eventually. but in reality as i see it, Germany wants Greece out. there's no mechanism for this, so they ask them to sign an agreement they know the Greeks don't want to implement so that the triggers happen.

nothing so far tells me Germany wouldn't be happy seing Greece out of the EU. imagine the relief from fiscal headaches going forward. with the Greek style of fiscal management, future headaches are a guarantee.

That one I understood.

Finance_Fan wrote:

the old fashion wars were always about money and land. why do you think UK had the biggest navy? to send them to your port if you failed to pay. let's face it, not much is new. debt = slavery, if you want to be free just say NO.

Or to just steal it outright if you had a load of cash (silver) and a technologically inferior military. The Opium War is a good example. I understand the Chinese are still pissed about that one...

robj wrote:

Finance_Fan wrote:
per commuter? or entire household? it's pretty low!!!
My wife and I commute together using the HOV, so it's household. And avoid the stop/start, so better gas mileage.

nice!

JP wrote:

I gave up commuting in 2004. It has added many months of life back (from my 1/2 commute door-to-door).

i lost extra weight right away after being sitting down 45' each way during commute.

josap wrote:

Finance_Fan wrote:
i'm not defending creditors at all, they deserve to take a 70% loss, no doubt.
We could think of it as a short sale.

indeed. the Greek drama and the US housing bubble have many similarities. underpricing of credit risk is dangerous, not only to the lender.

Mr Slippery wrote:

Cuz napalm sticks to kids!

Whoah.. I posted a link to that pic just this am. Yeah lets post that again..
O yeah I should do a NSFW - after all its nudity and a female child's nudity at that.

http://en.wikipedia.org/wiki/File:TrangBang.jpg

Yeah, well, folks, my mom was 17 in 1963, so there.

GenX and bitter, baby.

Because you guys had all the fun, and left the mess for me.

Someday this war's gonna end...
Trial tagline: You tell Granma we ain't paying for her new knee- I ain't gonna get hit by her cane again!

Citizen AllenM wrote:

you guys had all the fun, and left the mess for me.

Fun was starting college just as Womens' Lib became a big deal. (But we always cleaned up our mess.)

Citizen AllenM - You tell Granma we ain't paying for her new knee- I ain't gonna get hit by her cane again!

Can't chase you down, but watch out for that throwing arm, I got real good at duck and dodging cast iron frying pans.

lawyerliz wrote:

They got the silver from the Americans in the first place. Potosi.

I went on a tour in the mines in Potosi, Bolivia. All work done by hand: drilling holes for blasting, carrying 80kg loads of high grade silver ore up shafts, pushing ore carts through adits - all at altitude. The entrances were all finished with Inca stoneworks. The estimates I have heard are that roughly 7 million Inca slaves died working in the mines.

lawyerliz wrote:

They got the silver from the Americans in the first place. Potosi.

spain looted big time too, true.

Stuff about the use of mercury. Horrible beyond words.

And you know what? It didn't do them any good.

Citizen AllenM wrote:

GenX

GenX here too. GenX'rs working in FIRE seem to be doing just fine. The rest, not so much.

Antipodes wrote:

GenX here too. GenX'rs working in FIRE seem to be doing just fine. The rest, not so much.

academia is good too. it was the best place during the Great Depression.

Now is the time to buy.

Finance_Fan wrote:

it was the best place during the Great Depression.

Great now, maybe not so much later... given that's one of the last great bubbles out there.

Finance_Fan wrote:

Antipodes wrote:
GenX here too. GenX'rs working in FIRE seem to be doing just fine. The rest, not so much.
academia is good too. it was the best place during the Great Depression.

i don't know many working in RE, i do in FI... each time i ask them how's work (as i used to do) they now answer

"why? what happen!? didn't see the news this morning!"

on a Sunday noon. that level of stress burns them out long-term.

TJ and The Bear wrote:

Finance_Fan wrote:
it was the best place during the Great Depression.
Great now, maybe not so much later... given that's one of the last great bubbles out there.

technology is the only one i think that's delivering higher quality together with deflation. what a join! is there other sector that's super-achieving to that degree?

Distaste for debt? Try outright hatred. I have a spreadsheet with mine, and watch the decline by the month.

Not buying much, so too bad for the old folks who are selling. Vacation house? Why?

Short term rental is much cheaper and more convenient.

Bought my last new vehicle in 2002- never again. Used.

Now if O'Bama will just get the mortgage fixed, I am golden.

The problem is I am 45 years old, and in the prime of my earning years, and have zero desire to buy anything beyond what I have. I further don't ever plan to buy real estate again. No upside in my time horizon.

So, welcome to the new new. Or, 1940s redux when things finally improved and nobody really believed it would be sustained.

Trust in the economy is low, and not moving up.

Someday this war's gonna end...

Finance_Fan wrote:

academia is good too.

Not sure about that. A friend of mine is in Kansas right now training for human terrain services before heading to Afghanistan. He believes it's the only way to pay off his US$200,000+ in student loans.

Finance_Fan wrote:

imho redefining the most appropriate American Dream has higher success rates if not many follow the same path.

Well, the American Dream has been what all aspire to. So only if the majority choose the same dream will it become the national dream to aspire to.

Citizen AllenM wrote:

Vacation house? Why?

no kidding! what an inflexible money pit!!! doesn't make any sense to me to force yourself to go to the same place over and over again. also, it becomes a chore to maintain the house. why ruin your vacations like that?

well, bet vacation homes are highly regarded as desirable thanks to marketing from our very nice home builders.

Citizen AllenM wrote:

Bought my last new vehicle in 2002- never again. Used.

excellent! did you try Honda's certified used? or a similar used one with a back up for maintenance? or do you buy a regular used car?

Anyone else find it surreal to have the markets cheering while Athens burns?

"TJ and The Bear wrote on Sun, 2/12/2012 - 6:43 pm
reply
Anyone else find it surreal to have the markets cheering while Athens burns?"

No. The banks got bailed out again. Big positive for the banks.

Antipodes - He believes it's the only way to pay off his US$200,000+ in student loans.

Well, getting himself killed will solve that problem. Hopefully he's with a good company that can provide security.

TJ and The Bear wrote:

markets cheering

The Euro is up because everyone expects the ECB to print another trillion Euros!

lawyerliz wrote:

I never particularly liked Kennedy.

This is relevant to what, exactly?

I am pushing a 2004 Volvo XC70 with 111k on it. I drive 10k per year. Just am in the process of ditching private school for my progeny and sending him to the new Basis Charter School.

Downwardly mobile. I remember you mentioning you were renting in new york commenter waaaay back. I am still here, and did some comments waaaay back as AllenM aka Joliet Jake.

As for buying in New York, with the downsizing of FIRE still in progress, no way.

Downshift of lifestyle is the key. The biggest problem with buying more is curating your crap.

Hence my craigslist push. Cash is handy.

Someday this war's gonna end...

Kauai_Kahuna wrote:

Well, getting himself killed will solve that problem. Hopefully he's with a good company that can provide security.

His wife is already in Afghanistan, embedded with the Brits. She's got US$70,000+ in student loans of her own... This may not end well.

Do you care if he was assassinated in a coup d'etat?

poic wrote:

It's about bailing out German banks while having the GALL AND ARROGANCE to call it otherwise.

aren't the French banks more exposed to Greek loans? i do completely understand the Germans, cause I know of the tough work they did during the last 10 years integrating the east, including wage cuts, pension cuts that lasted years.

both nations have such different responsibility levels that they cannot understand each other. for a German, the Greeks are jokers, for Greeks, the Germans are impossibly serious.

Oh, noez, I pushed the yog's button.

lawyerliz wrote:

I missed that. No, don't tell me, I don't want to know.

Do NOT read this..

Dave Powers was sitting poolside while the President and I swam lazy circles around each other, splashing playfully. Dave had removed his jacket and loosened his tie in the warm air of the pool, but he was otherwise fully clothed. He was sitting on a towel, with his pants leg rolled up, and his bare feet dangling in the water.

The President swam over and whispered in my ear. "Mr. Powers looks a little tense," he said. "Would you take care of it?"

It was a dare, but I knew exactly what he meant. This was a challenge to give Dave Powers oral sex. I don't think the President thought I'd do it, but I'm ashamed to say that I did. It was a pathetic, sordid, scene, and is very hard for me to think about today. Dave was jolly and obedient as I stood in the shallow end of the pool and performed my duties. The President silently watched.

Err she was 19. ( a 1950s 19, not these wizened 19s we know now ) He had just turned 40. Sheesh.

Antipodes wrote:

Finance_Fan wrote:
academia is good too.
Not sure about that. A friend of mine is in Kansas right now training for human terrain services before heading to Afghanistan. He believes it's the only way to pay off his US$200,000+ in student loans.

sure. you are right, but those student loans are common among those that don't go to academia MORE than those staying in academia. reason is that doing a PhD is funded by the university with stipend, while pursuing a high paying profession usually requires expensive graduate degrees on expensive Ivy league locations. i follow the first version, but opted out of academia, so 0 student loans.

Study: Pot smokers twice as likely to have car accidents

No way man ... makes me more ... uh ... umm ... hey, you gonna eat that?

TJ and The Bear wrote:

Anyone else find it surreal to have the markets cheering while Athens burns?

not really. they seem to celebrate pain. check out how stocks rally when thousands of jobs get cut.

Pay cash with what? That is the essence of the problem, the ability to accumulate cash is nearly shot for most of the folks my age and younger, leaving what? More canadians to invest?

Here in Phoenix, due to the old folks influx on the way, yes, you are right, but nationwide this is the beginning of stagnant decades in housing.

No real gain anymore, because there is plenty.

Someday this war's gonna end...

"aren't the French banks more exposed to Greek loans? i do completely understand the Germans, cause I know of the tough work they did during the last 10 years integrating the east, including wage cuts, pension cuts that lasted years."

So change it to German and French banks.

Doesn't change my main point that it's a dishonest discourse. If you're going to lend 130B to a country that immediately goes back to your own banks, it's arrogant and dishonest to call it anything else than a bailout of your own financial system.

1 currency now -yogi wrote:

Do you care if he was assassinated in a coup d'etat?

We are talking about his abuse of women. and as in personal behavior so in public action. and I guess who knows.. maybe the mafia boss got pissed with him for sleeping with his lady. If you keep that sort of company.. then, while I do not wish it on someone - you get the actions of the people you hang out with.

Maybe. I have no definite idea.

Finance_Fan wrote:

why not having the freedom to define it for ourselves?

I agree.
However it isn't the definition of a national American Dream. Or any other national identity.

Finance_Fan wrote:

i have a much more pacific version of it. living abroad for 10 years solves it, even while working for PeaceCorps. it's the other side of the coin I guess.

How does that solve it?

Antipodes - How does that solve it?

Loan forgiveness for public service?

Citizen AllenM wrote:

The problem is I am 45 years old, and in the prime of my earning years, and have zero desire to buy anything beyond what I have. I further don't ever plan to buy real estate again. No upside in my time horizon.

So, welcome to the new new. Or, 1940s redux when things finally improved and nobody really believed it would be sustained.

The hatred of incurring debt on a depreciating asset is a very rational hatred.
On the other hand, in retrospect, one of the better financial decisions we made was to buy this house when we moved from Cali to Houston and not to move up; it helped enormously that the S&L bust had made Houston real estate affordable. Some areas like Florida, maybe Nevada, even California, are now at the point where it makes sense to at least run the numbers. In 7 years we are rent-free, so the prospect of retiring with no housing cost other than taxes makes retirement at least doable. Buying 10 years earlier when Houston real estate hit the peak or moving in 5 years would have made buying a dire mistake, so I'm not suggesting everyone go contact Tom Stone--just ownership as a retirement strategy, basically, particularly if housing in one's area is relatively cheap.

skk wrote:

. and as in personal behavior so in public action.

Well, no. Not at all.

lawyerliz wrote:

Oh, noez, I pushed the yog's button.

No worries - Udi Baba उडी बाबा to the rescue.

YouTube - Om Shanti Om funny scenes 2

yeah yeah.. thats supposed to reassure you ?

On a more positive note I finally mapped my old pain bike ride called Mission Peak.

All off-road, 1800 feet of climbing in 3 miles. A little over an hour to get up and descend.

Turns out it's a Cat1 ride.

I'll be sleeping like a baby tonight

The American dream is still the same. It has been used to manipulate the masses.

None of you people met my grandmother. Oh, my, the cheapness.

1 currency now -yogi wrote:

Yeah let's go back to the gossip pages.

so abuse of women is fit only for the gossip pages ? Okkk..

I differ. well with a mom, a grandma, ( BOTH RIP) sis', wife, nieces and now grand-nieces I guess I would.

Well, she works doesn't she?

What does she think of the decision?

robj wrote:

--just ownership as a retirement strategy, basically, particularly if housing in one's area is relatively cheap.

Exactly my plan. Bought a smaller place, easy to live in now and retire later. Cheap REO, half paid for now, hope to be F&C in 5 years. Doing a few energy upgrades as we go along. Last car bought, not yet paid for. Keeping our fingers crossed too.

Your story above-- even if "true" and not embellished to sell a book-- hardly qualifies, by itself as "abuse". The President forced himself on her? Was she underage? None of these women wanted to be with the President because of his looks and power?

I don't think Nova was referring to cheap spenders.

Since she has primary responsibility for the mortgage, she is mighty pissed at times.

Told her we would most likely lose at least 20% in the crash, which was our down payment, she replied I don't move much, so I can wait.

50% has been extreme, but the mod to the interest rate has helped. To make a long story short, she went back to the private sector for employment, and the last 8 months has been rough. Last month was good though, as she finally gets going.

As for my Tucson mess, I imagine they will finally foreclose this year. I settled the 2nd last year for 9 cents on the dollar.

I still have zero desire, because I can see all of the boomer assets being sold to my generation for less than replacement in a lot of areas.

Unless we import 20 million Chinese with a lot of money?

Someday this war's gonna end...

Kauai_Kahuna wrote:

Savings right now is doing nothing for me except a warm fuzzy that it might be there in 5 years, but I don't see the possible gains in investing worth what I see as increasing risks.

some european companies are at a nice discount, i'm looking into those with international revenues. the EU will keep on going regardless of what happens to Greece imho.

Dear Bankers you! Love, Greece.

Citizen AllenM wrote:

Pay cash with what? That is the essence of the problem, the ability to accumulate cash is nearly shot for most of the folks my age and younger, leaving what? More canadians to invest?

we are saving around 20%, but thanks to not having a car in part, helps to keep fixed costs down.

Citizen AllenM wrote:

I can see all of the boomer assets being sold to my generation for less than replacement in a lot of areas.

And many boomers eventually needing their "equity." Discovery.

No, they're literally burning banks to the ground in Greece.

Some of my investment decisions are based on what I think is in our government's interest.
There is no way they can cut spending enough so the way out is inflation. I think that's one
of the reasons we've stayed in th ME. We got to have influence in the reason while we devalue
the dollar.

poic wrote:

Doesn't change my main point that it's a dishonest discourse. If you're going to lend 130B to a country that immediately goes back to your own banks, it's arrogant and dishonest to call it anything else than a bailout of your own financial system.

it's debt own by Greece that the Greeks spent. but i agree with you about the fact that this bailout is not "help". imho Greece would have done better defaulting 2 years ago instead of letting their economy shrink so much during the kick the can.

i also buy the thesis that defaulting in 2002 instead of joining the EU was better longer term. Greece was struggling with its debt before joining hte EU too. the Olympiads was a big mistake too.

Exactly, nova. All those plans generally hinge upon a basic adherence to rule of law. That doesn't seem to be guaranteed or even probable at this point.

Was that really called for?

MunichRe or Allianz, if there is karma.

lawyerliz wrote:

It is always hard to save, even in the best of times.

yep. we can do it cause we kept on studying for longer, so we were used to being on a budget. as income increased, we increased savings, keeping fixed costs flat.

"the loan goes into default, after 10 years of failure of collection, the debt is forgiven. bankruptcy is not the only way to discharge a loan. i passed the tip to a couple of friends with $250k each on loans that wanted to live for at least 5 years doing non-profit work in Africa. they are pleased and willing to extend the stay 5 years longer."

Weren't you just talking with skk a few nights ago about how much we need to support the 5% of Greeks that pay their taxes?

robj wrote:

Some areas like Florida, maybe Nevada, even California, are now at the point where it makes sense to at least run the numbers. In 7 years we are rent-free, so the prospect of retiring with no housing cost other than taxes makes retirement at least doable.

sure! i talk as if NYC's prices were the norm and shouldn't.

Athens: More than 140 Injuries, 23 Detentions | Keep Talking Greece

"Austerity has Passed"

......Riiiight......Just like the Houston/Brown girl-child will now live a trouble free life. A whole nation here in the control of their mind altering substance of choice and we worry about austerity elsewhere...........what a bunch of brain dead losers we've become......

How's everyone's Sunday evening, huh?....

sporkfed wrote:

provided your time horizon is long enough.

that's the issue. i doubt many our age have control on that time horizon. several friends bought thinking they did, but they had been relocated. now they have to rent their places at a loss cause either they cannot sell or don't want to accept a big loss (talking about $150k to $200k loss counting transaction costs). so it's death by a 1,000 cuts till prices increase.

I also rent and don't own a car. I prefer it when people think I'm "poor."

Antipodes wrote:

nova wrote:
Bunch of cheap people on here.
It's only cheap if you have money and choose not to spend it. If you don't have the money to begin with, there's not much choice.

hey, i consider my investment purchases as spending. the fact that are not for public display doesn't mean i don't spend $.

Sounds like Mississippi.

Where will people in the US go? Hell, how many even have passports? Let alone speak another language or are willing to learn?

nova wrote:

What I was trying to say, in what I thought was semi-humorous fashion, was that life is short. Enjoy it -- in what ever way works for you -- because odds are there will be enough hard times to go around soon enough.

I definitely agree with you, nova. I hear so many of my parents generation saving for a retirement and hobbies/travel, only to have their health fail soon after they retire. It is very sad.

Greece does have a top notch black market system that undermines the tax structure....So at least they can build on that.

Yeah, abuse of power is nasty and should be eliminated if possible. But political sex scandals are as old as the Bible. Some turn out to be true, as with Jefferson and his slave, and some just slander.

poic wrote:

The numbers easily pencil out in downtown SF right now. They also easily pencilled out roughly two years ago in the Sonoma area around Tom S.

wow, maybe for people with much higher incomes than us they do here too? somehow i stop at incomes of around $300k and homes of $1.5M or less (think median price is around $1.2M?). but cause the upmarket is totally out of reach for us, it feels like from another planet. we would also be 1st time homebuyers.

josap wrote:

robj wrote:
--just ownership as a retirement strategy, basically, particularly if housing in one's area is relatively cheap.
Exactly my plan. Bought a smaller place, easy to live in now and retire later. Cheap REO, half paid for now, hope to be F&C in 5 years. Doing a few energy upgrades as we go along.

nice!

Citizen AllenM wrote:

As for my Tucson mess, I imagine they will finally foreclose this year. I settled the 2nd last year for 9 cents on the dollar.

nice!

I still have zero desire, because I can see all of the boomer assets being sold to my generation for less than replacement in a lot of areas.

maybe a big chunk of that will not be sold but passed along to heirs? assets are very concentrated.

Mr Slippery wrote:

US/Mexico borders are probably as hazardous as Afghanistan.

Not if you're Mexican.

Citizen AllenM wrote:

I still have zero desire, because I can see all of the boomer assets being sold to my generation for less than replacement in a lot of areas.

RE, even in AZ, NV, FL, will not be sold for less than replacement cost forever. You're young enough to participate again, but having a long term outlook certainly helps the process.

Mr Slippery wrote:

I was justifying my rape comment earlier, it was not out of the blue.

OTOH, the US/Mexico borders are probably as hazardous as Afghanistan.

According to my friend - soon to be heading to Afghan - a single deployment of one year would pay enough to pay off his loans. I suspect the danger is also compressed - less time, but higher danger factor.

The downside, of course, is that any future hope of remaining in academia after working for human terrain services is nill. Only hope for future employment would most likely be M.I.C.

Comrade Kristina wrote:

Dear Bankers you! Love, Greece.

I was in Athens some time in the late 80's. At least I think it was the late 80's - oozo has taken its toll. The Greeks had just defeated the USSR in basketball and they nearly burnt the joint down. I was on my way to the airport to pick up my brother and was amazed at all of the cars that had been overturned and torched. And this was when they were happy.

1 currency now -yogi wrote:

Some turn out to be true, as with Jefferson and his slave, and some just slander.

Ahhh a variant of the nuts and sluts defence. well at least we are discussing whether its true or not.

Didn't whatshisface try that - gosh how quickly they fade from memory, thank god - I mean the 9 9 9 man - Herman Cain..

nova wrote:

You and I are nothing if half of what can possibly happen -- happens. A paid for house and money in the bank? Just a handful of straw to throw into the wind that's coming.

We need a new weather report. The storm track may yet change.

poic wrote:

"the loan goes into default, after 10 years of failure of collection, the debt is forgiven. bankruptcy is not the only way to discharge a loan. i passed the tip to a couple of friends with $250k each on loans that wanted to live for at least 5 years doing non-profit work in Africa. they are pleased and willing to extend the stay 5 years longer."
Weren't you just talking with skk a few nights ago about how much we need to support the 5% of Greeks that pay their taxes?

these 2 guys pay their taxes. if you pay attention you'd notice i think Greece would have been better defaulting in 2002, pre-joining EU. this is a default. not a lifestyle built on non-payment of taxes. when debt cannot be paid, the earlier you recognize it, the better for all. the travesty of the non-dischargeabilty of student loans will be fixed eventually, but it'll be too late for these 2.

check out Argentina, they delayed the inevitable default for an entire year too.

nova wrote:

What I was trying to say, in what I thought was semi-humorous fashion, was that life is short. Enjoy it -- in what ever way works for you -- because odds are there will be enough hard times to go around soon enough.

you are right. i'm the saver in our couple, so need to let go of some saving goals so that it's not so tough on hubby, the spender.

Right now I have zero desire, and am short of time.
Money has other uses, and speaking of housing, I will inherit one of those, too. Here in Phoenix, and paid for, but it will need work by the time my 'rents are done with it.

So, why bother?

Meanwhile, down it goes, more foreclosures coming with that deal being done, watch!

Housing. Har. How much is a house in Detroit worth these days?

Those long term trends are a killah.

Someday this war's gonna end...

MaryAnn wrote:

nova wrote:
How much is that paid for house in Greece and pension looking right now to someone who thought they had it wired?
Those that can leave, will leave, so those that stay will be the poor, old and the most dependent on government needs. What a shame.

a-la mexico, those that leave, will send remittances back to help out.

Mish's Global Economic Trend Analysis: China Instructs Banks to Roll Over $1.7 Trillion in Debt to Avoid Mass Default

josap wrote:

Finance_Fan wrote:
the loan goes into default, after 10 years of failure of collection, the debt is forgiven
Ok, before the loans and laws changed.

i'm not advocating for this, just saying i passed the info along. that i actually found online by chance, looking for time limitations on IRS debt, which obviously are longer than for private loans. the trigger was a musician that didn't declare any income... typical of surfing the web, you never know where it'll lead you.

Boeing eyes stretched 787 plane with 320 passenger capacity
| Reuters

Who wants to be first aboard?

A show of hands?

have them research when the clock starts running and remind them about partial payments restarting the clock.

Antipodes wrote:

I did not believe student loans were dischargeable under bankruptcy.

"If you file for bankruptcy under Chapter 7, you should be aware that not all debts are eliminated (or "discharged") once the bankruptcy process is complete. Generally speaking, in a Chapter 7 proceeding, the following debts are not discharged:

Debts or creditors not listed on the schedules filed at the outset of the case.

Most student loans, unless repayment would cause the debtor and his or her dependents undue hardship (more on student loans below). " Debts that Remain After a Chapter 7 Discharge - FindLaw

11 USC section 523(a)(8). Probably difficult to show "undue hardship."

Butch Trucks is an ass.

Hidden Track » Dickey Betts No Shows as Allman Brothers Band Accepts Grammy Lifetime Achievement Award

Finance_Fan wrote:

it beats the hell out of "unpaid internship that may or may not lead to a paid position"

that's the only alternative to a job in academia?

Antipodes wrote:

Parents are happily spending their assets before they die.

Best form of estate planning there is.

Showed kids and wife the rooftop pic of Athens burning, found on ZH. Wife gets what's going on and doesn't see why the Greek parliament doesn't just default and go back to the Drachma. Kids just don't understand the scope of this.

Don't even know how to explain to them the political ramifications of what happened tonight. Greece is now essentially like something that's out of a bad horror novel; a living being kept barely alive solely to provide blood for the vampires.

Put out a couple of hiring reqs this evening. Just doing my part to keep the global economy ticking over...

Antipodes wrote:

Finance_Fan wrote:
maybe a big chunk of that will not be sold but passed along to heirs? assets are very concentrated.
Ha ha ha ha! No, not in my case. Parents are happily spending their assets before they die.

Allen draw the distinction well, those that might pass down assets are +$10M, the 1% i guess.

skk wrote:

the nuts and sluts defence.

So you believe every story you hear-- if it involves sex and politics? Was Julius Caesar really gay?

nova wrote:

Where will people in the US go? Hell, how many even have passports? Let alone speak another language or are willing to learn?

There's really no place to go for most that's actually better; there are better places, but most won't get in.

If things were actually to get that bad, maybe the best thing would be to stay in country but drop off the radar. It's a big country, plenty of spaces where you could start a mini-colony and no one would see or care; maybe they could find you if they wanted, but there has to be a "they" and they have to think you're worth the effort. In uncertain times with a shaky regime, you'd have to be pretty interesting.

Fire pretty:

Greece Riots Photos: Athens Burns Following Mass Protests

Citizen AllenM wrote:

Don't make me laugh, I am talking about just buying groceries.
Josap and I have someone in common, she is barely making it paying the rent.
Someday this war's gonna end...

was there too during the bubble. borrowed from friends and family to get current. sometimes people don't get that graduate students on a stipend are at poverty level, and many times, the universities are in the highest cost areas.

Finance_Fan wrote:

wouldn't replacement cost reset lower?

There are always variables in the equation and labor, materials and land costs will vary.

What is mostly affecting RE markets right now is the huge unwanted (distressed) supply. That will not exist forever.

Finance_Fan wrote:

how much on gas do you guys spend commuting each month?

About $500 in commute expenses - but my situation is a bit unusual, it includes weekly float plane and ferry trips.

spool:

just for you

787 Composites And Lightning Strikes — Tech Ops Forum | Airliners.net

have a nice flight

homedad43 wrote:

. . . a living being kept barely alive solely to provide blood for the vampires.

Terry Schiavo? Oh, wait, you're not in FL.

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