[ltokuda]

Regarding “american jobs”, I wouldn’t say that the bottom line is that IT DOESN’T WORK. The problem is that our economic policy creates an environment where it will not work.

For example, here’s a great way to reduce military cost. Why don’t we just send all our technology to China and have our weapons manufactured there? They can obviously produce stuff a lot cheaper than we can so “american jobs” don’t work in this case either? Well at the end of the day, we make it work. We enforce an economic policy for military equipement that isn’t very “free market” at all. I guess someone decided that, despite the cost benefits, its not in our best interest to export our technology. This is what keeps us ahead of the competition.

But in the business world, exporting our technology is considered a good thing. We give it away to America’s competitors in search of higher profit margins. We invest in infrastructure in foreign lands so that we can move our jobs to where the pay is cheaper. We’ve all been told that this is the way it has to be … but then again, these same guys thought that investment banks were self-regulating.

My view is that greed rules. The reason why investment banks are NOT self-regulating is because they are comprised of individuals. A single fund manager would gladly see his firm go bankrupt if he could pocket a billion dollars in the process. An employee acting in his own self interest doesn’t mean he’s doing what’s best for the company. A company needs to make sure that the incentives of the employees are in line with its own well being.

Likewise, a business will gladly undermine America’s economy if the incentives were large enough. That’s just the way it is. So it is up to America to create an economic policy which aligns business interests with America’s interests. Unfortunately, these days, it seems like America is corporate owned so I’m not too hopeful that things will change for the better.

Lee

[ltokuda]

Regarding “american jobs”, I wouldn’t say that the bottom line is that IT DOESN’T WORK. The problem is that our economic policy creates an environment where it will not work.

For example, here’s a great way to reduce military cost. Why don’t we just send all our technology to China and have our weapons manufactured there? They can obviously produce stuff a lot cheaper than we can so “american jobs” don’t work in this case either? Well at the end of the day, we make it work. We enforce an economic policy for military equipement that isn’t very “free market” at all. I guess someone decided that, despite the cost benefits, its not in our best interest to export our technology. This is what keeps us ahead of the competition.

But in the business world, exporting our technology is considered a good thing. We give it away to America’s competitors in search of higher profit margins. We invest in infrastructure in foreign lands so that we can move our jobs to where the pay is cheaper. We’ve all been told that this is the way it has to be … but then again, these same guys thought that investment banks were self-regulating.

My view is that greed rules. The reason why investment banks are NOT self-regulating is because they are comprised of individuals. A single fund manager would gladly see his firm go bankrupt if he could pocket a billion dollars in the process. An employee acting in his own self interest doesn’t mean he’s doing what’s best for the company. A company needs to make sure that the incentives of the employees are in line with its own well being.

Likewise, a business will gladly undermine America’s economy if the incentives were large enough. That’s just the way it is. So it is up to America to create an economic policy which aligns business interests with America’s interests. Unfortunately, these days, it seems like America is corporate owned so I’m not too hopeful that things will change for the better.

Lee

[ltokuda]

If you like Pinot Noir’s, I recently found some really good deals from New Zeland. It seems like New Zeland’s wine industry is pretty young and they generally don’t have the big names that can command premium prices. I recently bought a case of “Yealands 2008 Pinot Noir, Marlborough” for only $12/bottle. I think that’s a great deal because its been pretty hard finding a pinot I like for under $20. The other one I really enjoyed was the “Palliser 2007 Pinot Noir” for $23/bottle.

Melville Winery (in Santa Barbara) had 2 pinot’s that I liked: “2008 Verna’s Pinot Noir” and the “2008 Estate Pinot Noir”, priced at $20 and $25 respectively. They sell some higher end pinot’s too but I didn’t get to taste those.

BTW, I got all of the wines above at “The Wine Exchange”, http://www.winex.com, located in Orange County. For those who live in the area, I highly recommend it. Great selection at very good prices.

One more recommendation is the “Frescobaldi 2006 Chianti Nipozzano Riserva”. I think I’ve seen it at Costco for about $18. I tried it last year and wasn’t too sure about it. But I drank 2 more bottles recently and it seems like its been getting better and better.

[ltokuda]

If you like Pinot Noir’s, I recently found some really good deals from New Zeland. It seems like New Zeland’s wine industry is pretty young and they generally don’t have the big names that can command premium prices. I recently bought a case of “Yealands 2008 Pinot Noir, Marlborough” for only $12/bottle. I think that’s a great deal because its been pretty hard finding a pinot I like for under $20. The other one I really enjoyed was the “Palliser 2007 Pinot Noir” for $23/bottle.

Melville Winery (in Santa Barbara) had 2 pinot’s that I liked: “2008 Verna’s Pinot Noir” and the “2008 Estate Pinot Noir”, priced at $20 and $25 respectively. They sell some higher end pinot’s too but I didn’t get to taste those.

BTW, I got all of the wines above at “The Wine Exchange”, http://www.winex.com, located in Orange County. For those who live in the area, I highly recommend it. Great selection at very good prices.

One more recommendation is the “Frescobaldi 2006 Chianti Nipozzano Riserva”. I think I’ve seen it at Costco for about $18. I tried it last year and wasn’t too sure about it. But I drank 2 more bottles recently and it seems like its been getting better and better.

[ltokuda]

If you like Pinot Noir’s, I recently found some really good deals from New Zeland. It seems like New Zeland’s wine industry is pretty young and they generally don’t have the big names that can command premium prices. I recently bought a case of “Yealands 2008 Pinot Noir, Marlborough” for only $12/bottle. I think that’s a great deal because its been pretty hard finding a pinot I like for under $20. The other one I really enjoyed was the “Palliser 2007 Pinot Noir” for $23/bottle.

Melville Winery (in Santa Barbara) had 2 pinot’s that I liked: “2008 Verna’s Pinot Noir” and the “2008 Estate Pinot Noir”, priced at $20 and $25 respectively. They sell some higher end pinot’s too but I didn’t get to taste those.

BTW, I got all of the wines above at “The Wine Exchange”, http://www.winex.com, located in Orange County. For those who live in the area, I highly recommend it. Great selection at very good prices.

One more recommendation is the “Frescobaldi 2006 Chianti Nipozzano Riserva”. I think I’ve seen it at Costco for about $18. I tried it last year and wasn’t too sure about it. But I drank 2 more bottles recently and it seems like its been getting better and better.

[ltokuda]

If you like Pinot Noir’s, I recently found some really good deals from New Zeland. It seems like New Zeland’s wine industry is pretty young and they generally don’t have the big names that can command premium prices. I recently bought a case of “Yealands 2008 Pinot Noir, Marlborough” for only $12/bottle. I think that’s a great deal because its been pretty hard finding a pinot I like for under $20. The other one I really enjoyed was the “Palliser 2007 Pinot Noir” for $23/bottle.

Melville Winery (in Santa Barbara) had 2 pinot’s that I liked: “2008 Verna’s Pinot Noir” and the “2008 Estate Pinot Noir”, priced at $20 and $25 respectively. They sell some higher end pinot’s too but I didn’t get to taste those.

BTW, I got all of the wines above at “The Wine Exchange”, http://www.winex.com, located in Orange County. For those who live in the area, I highly recommend it. Great selection at very good prices.

One more recommendation is the “Frescobaldi 2006 Chianti Nipozzano Riserva”. I think I’ve seen it at Costco for about $18. I tried it last year and wasn’t too sure about it. But I drank 2 more bottles recently and it seems like its been getting better and better.

[ltokuda]

If you like Pinot Noir’s, I recently found some really good deals from New Zeland. It seems like New Zeland’s wine industry is pretty young and they generally don’t have the big names that can command premium prices. I recently bought a case of “Yealands 2008 Pinot Noir, Marlborough” for only $12/bottle. I think that’s a great deal because its been pretty hard finding a pinot I like for under $20. The other one I really enjoyed was the “Palliser 2007 Pinot Noir” for $23/bottle.

Melville Winery (in Santa Barbara) had 2 pinot’s that I liked: “2008 Verna’s Pinot Noir” and the “2008 Estate Pinot Noir”, priced at $20 and $25 respectively. They sell some higher end pinot’s too but I didn’t get to taste those.

BTW, I got all of the wines above at “The Wine Exchange”, http://www.winex.com, located in Orange County. For those who live in the area, I highly recommend it. Great selection at very good prices.

One more recommendation is the “Frescobaldi 2006 Chianti Nipozzano Riserva”. I think I’ve seen it at Costco for about $18. I tried it last year and wasn’t too sure about it. But I drank 2 more bottles recently and it seems like its been getting better and better.

[ltokuda]

If you’re going to Babcock, be sure to stop by Melville. They share the same driveway with Babcock so its super close. I actually like Melville better and the prices are better too.

[ltokuda]

If you’re going to Babcock, be sure to stop by Melville. They share the same driveway with Babcock so its super close. I actually like Melville better and the prices are better too.

[ltokuda]

If you’re going to Babcock, be sure to stop by Melville. They share the same driveway with Babcock so its super close. I actually like Melville better and the prices are better too.

[ltokuda]

If you’re going to Babcock, be sure to stop by Melville. They share the same driveway with Babcock so its super close. I actually like Melville better and the prices are better too.

[ltokuda]

If you’re going to Babcock, be sure to stop by Melville. They share the same driveway with Babcock so its super close. I actually like Melville better and the prices are better too.

[ltokuda]

[quote=sdrealtor]I did not miss that point, I made an assumption that a very large percetnage of those liars have already walked once they were severely underwater.
[/quote]

That’s what doesn’t make sense to me. 80% of option arms were low/no doc. 17% of option arms have already resulted in foreclosure. Even if all of that 17% was low/no doc, that still leaves 63% low/no doc loans still active. It seems to be a bit of a leap to assume that “liars” are mostly gone and the honest low/no doc borrowers are what’s left. Maybe its true, but I just haven’t seen any evidence to support it.

The interesting thing about option arms is that with a low teaser rate, it can actually be cheaper to “own” than to rent. However, if a recast happens and the monthly mortgage goes up by 40%, that equation can change pretty drastically. I’m wondering how many people are riding it out until the math no longer makes sense.

[ltokuda]

[quote=sdrealtor]I did not miss that point, I made an assumption that a very large percetnage of those liars have already walked once they were severely underwater.
[/quote]

That’s what doesn’t make sense to me. 80% of option arms were low/no doc. 17% of option arms have already resulted in foreclosure. Even if all of that 17% was low/no doc, that still leaves 63% low/no doc loans still active. It seems to be a bit of a leap to assume that “liars” are mostly gone and the honest low/no doc borrowers are what’s left. Maybe its true, but I just haven’t seen any evidence to support it.

The interesting thing about option arms is that with a low teaser rate, it can actually be cheaper to “own” than to rent. However, if a recast happens and the monthly mortgage goes up by 40%, that equation can change pretty drastically. I’m wondering how many people are riding it out until the math no longer makes sense.

[ltokuda]

[quote=sdrealtor]I did not miss that point, I made an assumption that a very large percetnage of those liars have already walked once they were severely underwater.
[/quote]

That’s what doesn’t make sense to me. 80% of option arms were low/no doc. 17% of option arms have already resulted in foreclosure. Even if all of that 17% was low/no doc, that still leaves 63% low/no doc loans still active. It seems to be a bit of a leap to assume that “liars” are mostly gone and the honest low/no doc borrowers are what’s left. Maybe its true, but I just haven’t seen any evidence to support it.

The interesting thing about option arms is that with a low teaser rate, it can actually be cheaper to “own” than to rent. However, if a recast happens and the monthly mortgage goes up by 40%, that equation can change pretty drastically. I’m wondering how many people are riding it out until the math no longer makes sense.

[Author]

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