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VoZangre.
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October 20, 2007 at 12:56 PM #90341October 20, 2007 at 2:47 PM #90338
drunkle
Participant‘you never stop learning’ is a nice way of saying you never stop making mistakes…
the non californian ideas about california and it’s people are funny… every californian owns a gun is not one i’ve ever heard before… liberal california, sure, but then you go into an area like el cajon or the inland empire and it’s like you’re back in arkansas.
what other gems of canadian wisdom about california are there?
and yeah, getting burned on a car is huge when you’re making jack squat. you’re investing in your future, you’re investing future income because a car = employment. if your car breaks down, you have no car. if your home breaks down, you can still live in it.
October 20, 2007 at 2:47 PM #90347Participant‘you never stop learning’ is a nice way of saying you never stop making mistakes…
the non californian ideas about california and it’s people are funny… every californian owns a gun is not one i’ve ever heard before… liberal california, sure, but then you go into an area like el cajon or the inland empire and it’s like you’re back in arkansas.
what other gems of canadian wisdom about california are there?
and yeah, getting burned on a car is huge when you’re making jack squat. you’re investing in your future, you’re investing future income because a car = employment. if your car breaks down, you have no car. if your home breaks down, you can still live in it.
October 20, 2007 at 8:02 PM #90352JWM in SD
ParticipantRustico,
Don’t misunderstand what I’m saying. I don’t necessarily blame the FBs per se. However, I’m torn on this issue and I’ll explain why. I fully believe that most people do not understand the Time Value of Money principles. I’m fortunated that I was formally trained on it due to my backgrounding in accounting and finance. However, you don’t have to understand TMV thoroughly, to realize that if you are only paying for the interest on a loan or that your loan is equivalent to 10x your annual income, that you might have a problem handling the payments. The only reason that people were taking those risks was speculation…whether they realized it or not. Speculation that the home prices would continue to increase indefinitely. It’s difficult for me to have a sympathy for the typical FB who’s making probably half the HHI that my wife and I do, but runs out and gets an escalade or MB with his Heloc money because he fully expects that I’m going to buy his house at price sufficient to cover those expenditures.
Sorry…not going to do it. I am the CEO of my family and will not do that nor will I have regret or sorrow over that position. Empathy for those who truly duped, sure. Sympathy in the form of my tax dollars? No F*cking Way. There was no sympathy for me when I was in my late twenties and watched what I had built in my 401K get wiped out in the tech bubble…no bail out for me in that case.
I will not fund the retirement of some Californian who has been here longer than me and thinks they are entitled to it. Not going to do it.
October 20, 2007 at 8:02 PM #90361ParticipantRustico,
Don’t misunderstand what I’m saying. I don’t necessarily blame the FBs per se. However, I’m torn on this issue and I’ll explain why. I fully believe that most people do not understand the Time Value of Money principles. I’m fortunated that I was formally trained on it due to my backgrounding in accounting and finance. However, you don’t have to understand TMV thoroughly, to realize that if you are only paying for the interest on a loan or that your loan is equivalent to 10x your annual income, that you might have a problem handling the payments. The only reason that people were taking those risks was speculation…whether they realized it or not. Speculation that the home prices would continue to increase indefinitely. It’s difficult for me to have a sympathy for the typical FB who’s making probably half the HHI that my wife and I do, but runs out and gets an escalade or MB with his Heloc money because he fully expects that I’m going to buy his house at price sufficient to cover those expenditures.
Sorry…not going to do it. I am the CEO of my family and will not do that nor will I have regret or sorrow over that position. Empathy for those who truly duped, sure. Sympathy in the form of my tax dollars? No F*cking Way. There was no sympathy for me when I was in my late twenties and watched what I had built in my 401K get wiped out in the tech bubble…no bail out for me in that case.
I will not fund the retirement of some Californian who has been here longer than me and thinks they are entitled to it. Not going to do it.
October 20, 2007 at 9:01 PM #90356NotCranky
Participant“Sorry…not going to do it. I am the CEO of my family and will not do that nor will I have regret or sorrow over that position. Empathy for those who truly duped, sure. Sympathy in the form of my tax dollars? No F*cking Way. There was no sympathy for me when I was in my late twenties and watched what I had built in my 401K get wiped out in the tech bubble…no bail out for me in that case.”
This, a bail out, is just a completely different argument and we have always been in full agreement although, I don’t talk about it much.
I would rather loose 1/2 or even all of the equity in my house than have a bailout. Realistically, though I don’t think we can stop some bail out type regulation/activity. Where the price to be paid for that shows up I am not sure yet. We will pay for it as a tax payer, consumer or both.October 20, 2007 at 9:01 PM #90365Participant“Sorry…not going to do it. I am the CEO of my family and will not do that nor will I have regret or sorrow over that position. Empathy for those who truly duped, sure. Sympathy in the form of my tax dollars? No F*cking Way. There was no sympathy for me when I was in my late twenties and watched what I had built in my 401K get wiped out in the tech bubble…no bail out for me in that case.”
This, a bail out, is just a completely different argument and we have always been in full agreement although, I don’t talk about it much.
I would rather loose 1/2 or even all of the equity in my house than have a bailout. Realistically, though I don’t think we can stop some bail out type regulation/activity. Where the price to be paid for that shows up I am not sure yet. We will pay for it as a tax payer, consumer or both.October 21, 2007 at 4:10 PM #90408mixxalot
ParticipantNeeds versus Wants and American sheeple
As so eloquently mentioned:
“The USA is 100% about consumerism. My observation is that if you do not have restraint, you will never succeed whether the issue is buying houses, cars, flat screens… whatever. Our society is and will always be about people pushing other people to buy and overspend. It is enforced and encouraged by our government, by many professions, and is embedded in our fabric. Lots of blame to go around everywhere…”
Indeed, I would like a big screen plasma TV and new car and while I can afford it, its not a need for me right now and I have more important things to save for in the future. Americans tend to be the worst savers on the planet. Everything is bought on credit and most Americans are in debt up to their eyeballs.
October 21, 2007 at 4:10 PM #90417ParticipantNeeds versus Wants and American sheeple
As so eloquently mentioned:
“The USA is 100% about consumerism. My observation is that if you do not have restraint, you will never succeed whether the issue is buying houses, cars, flat screens… whatever. Our society is and will always be about people pushing other people to buy and overspend. It is enforced and encouraged by our government, by many professions, and is embedded in our fabric. Lots of blame to go around everywhere…”
Indeed, I would like a big screen plasma TV and new car and while I can afford it, its not a need for me right now and I have more important things to save for in the future. Americans tend to be the worst savers on the planet. Everything is bought on credit and most Americans are in debt up to their eyeballs.
October 21, 2007 at 7:34 PM #90422Raybyrnes
Participant“Americans tend to be the worst savers on the planet.”
This is an overused phrase. Amercian’s are also the most entrepreneurial of people and this doesn’t begin with capital but rather with debt. It’s takes money to make money. Whether you like the game of finance or not you are penalized for saving.
October 21, 2007 at 7:34 PM #90431Participant“Americans tend to be the worst savers on the planet.”
This is an overused phrase. Amercian’s are also the most entrepreneurial of people and this doesn’t begin with capital but rather with debt. It’s takes money to make money. Whether you like the game of finance or not you are penalized for saving.
October 21, 2007 at 9:48 PM #90442ParticipantOh, you mean like Mike Railey the motorized surf board, buy a $1.4M condo entrepreneur? Yeah, Okay.
October 21, 2007 at 9:48 PM #90451ParticipantOh, you mean like Mike Railey the motorized surf board, buy a $1.4M condo entrepreneur? Yeah, Okay.
October 21, 2007 at 11:48 PM #90482ParticipantMeg Whitman left a pretty prominent job in Boston to work for an unknown company called ebay. It was started by a technology guy as a hobby to sell used stuff.
There are going to be a lot of failures out there but innnovation is never going to occur witout risk takers.
Here is a pretty stupid idea let’s compete with the US postal Service (Fed Ex)
Let’s charge for programming. Cable TV.
Let’s charge for music. XFM and Satelite Radio.
Let’s do something differnt than ski. Snowboarding.
MIke Railey might not make it but our system has supported others whose ideas were questioned and they turned out to be successes.
October 21, 2007 at 11:48 PM #90491ParticipantMeg Whitman left a pretty prominent job in Boston to work for an unknown company called ebay. It was started by a technology guy as a hobby to sell used stuff.
There are going to be a lot of failures out there but innnovation is never going to occur witout risk takers.
Here is a pretty stupid idea let’s compete with the US postal Service (Fed Ex)
Let’s charge for programming. Cable TV.
Let’s charge for music. XFM and Satelite Radio.
Let’s do something differnt than ski. Snowboarding.
MIke Railey might not make it but our system has supported others whose ideas were questioned and they turned out to be successes.
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