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Today's topics:
* Math on the bailout doesn't add up... - 4 messages, 2 authors
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/3213ff522966e10e?hl=en
* Can a rental property be used as a Roth IRA investment? - 1 messages, 1
author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/3e9345a6d41c09d2?hl=en
* Earplugs - 2 messages, 2 authors
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/9867c3b9f1dfc4a0?hl=en
* CVS Pharmacist calls customer a "Fucking AIDS freak" - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/5f6c5d62367cf192?hl=en
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TOPIC: Math on the bailout doesn't add up...
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/3213ff522966e10e?hl=en
==============================================================================
== 1 of 4 ==
Date: Sun, Sep 28 2008 8:40 pm
From: Curly Surmudgeon
On Sun, 28 Sep 2008 21:23:05 -0500, wrote:
> Dave wrote:
>> "Jitney" <jtnospam@yahoo.com> wrote in message
>> news:1e130727-4846-4f76-93df-613dac07bccf@l64g2000hse.googlegroups.com...
>>> It is hard to find statistics on the mortgage crisis, so I'm making an
>>> estimate. There are about 100 million households in the USA, assuming
>>> 10% are in default or foreclosure, which I think is a high estimate,
>>> subtracting rentals from the 100 million (if you can refute me from a
>>> credible authority, I would love to be corrected). Ten million divided
>>> into 700 billion works out to $700,000 per distressed property, which
>>> should on the average buy out each property twice. What is happening to
>>> the rest?
>>
>> OK, what you are missing is this... banks don't just make money by
>> underwriting mortgages. Some bad mortgages were made, but some bad
>> INVESTMENTS were made, also. The distressed banks are in trouble due to
>> mis-management of corporate funds. PART of that mis-management (5%?,
>> maybe?) was in the form of certain mortgages that never should have been
>> under-written. This isn't a mortgage crisis, that is just one symptom.
>> It is a corporate crisis, where certain banks are in trouble, and some
>> of them happen to hold mortgage notes which may or may not ever get paid
>> off.
>>
>>> I think this is a massive raid on the US treasury, with a threat of a
>>> Great Depression if we don't pay up,
>>
>> The Great Depression will look like a cakewalk compared to the impending
>> financial collapse of the U.S.
>>
>>
>>> and that isn't even
>>> counting AIG, Countrywide, Fannie Mae, Freddie Mac, and Bear Stearns.
>>> Wall Street is stealing more than the Huns that raided the Roman
>>> Empire, with similar results. And this is not the end. Congress forked
>>> over 25 Billion to the automakers, the airlines are next, and who then?
>>> Ben and Jerries? We are looking at a new Dark Ages.
>>
>> Nawwwww... we'll just get sold to Iran for about $25,000. -Dave
>>
>>
> If they had the money to lend it would be a write off. They didn't have
> the money. They didn't even have a fraction to back the loans. The share
> holders should sue the stocking off them except they knew the game and
> thought they could make money where there was none. They are going to
> print or at least put some decimal points on the computers suggesting
> money. The value of everything we own will take a dump along with the
> dollar. A ten dollar hamburger will be a bargain. The people that made all
> this happen skate while we try to pay of a 10,000,000,000,000.00+ debt.
> This is government of by and for unregulated global business. Aren't they
> terrific economists? Are they this stupid? Is globalism not just about
> raiding our wealth?
> Is anyone building a new rope factory?
Dunno, I much prefer Madame Guillotine:
http://www.stewwebb.com/guillotine_symbol_of_tyranny.htm
--
Regards, Curly
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== 2 of 4 ==
Date: Sun, Sep 28 2008 8:44 pm
From: Curly Surmudgeon
On Sun, 28 Sep 2008 17:30:37 -0700, Jitney wrote:
> It is hard to find statistics on the mortgage crisis, so I'm making an
> estimate. There are about 100 million households in the USA, assuming 10%
> are in default or foreclosure, which I think is a high estimate,
> subtracting rentals from the 100 million (if you can refute me from a
> credible authority, I would love to be corrected). Ten million divided
> into 700 billion works out to $700,000 per distressed property, which
> should on the average buy out each property twice. What is happening to
> the rest? I think this is a massive raid on the US treasury, with a threat
> of a Great Depression if we don't pay up, and that isn't even counting
> AIG, Countrywide, Fannie Mae, Freddie Mac, and Bear Stearns. Wall Street
> is stealing more than the Huns that raided the Roman Empire, with similar
> results. And this is not the end. Congress forked over 25 Billion to the
> automakers, the airlines are next, and who then? Ben and Jerries? We are
> looking at a new Dark Ages.
7.0^11 / 1.0^8 == 7.0^3 or $7,000.00 not $700,000.00. Still, a lot of
money (and a crime to steal from the middle class) but not as large as you
may have thought.
--
Regards, Curly
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Don't Be Frightened, Bush Lied
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== 3 of 4 ==
Date: Sun, Sep 28 2008 8:46 pm
From: Curly Surmudgeon
On Sun, 28 Sep 2008 18:03:33 -0700, Al Bundy wrote:
>
>
> Jitney wrote:
>> It is hard to find statistics on the mortgage crisis, so I'm making an
>> estimate. There are about 100 million households in the USA, assuming
>> 10% are in default or foreclosure, which I think is a high estimate,
>> subtracting rentals from the 100 million (if you can refute me from a
>> credible authority, I would love to be corrected). Ten million divided
>> into 700 billion works out to $700,000 per distressed property, which
>> should on the average buy out each property twice. What is happening to
>> the rest? I think this is a massive raid on the US treasury, with a
>> threat of a Great Depression if we don't pay up, and that isn't even
>> counting AIG, Countrywide, Fannie Mae, Freddie Mac, and Bear Stearns.
>> Wall Street is stealing more than the Huns that raided the Roman Empire,
>> with similar results. And this is not the end. Congress forked over 25
>> Billion to the automakers, the airlines are next, and who then? Ben and
>> Jerries? We are looking at a new Dark Ages.
>
> Nope, your math is indeed faulty. $700B/10M is $70,000. If you have 10
> million properties in default, it doesn't matter whether they are rentals
> or not. Somebody owns them and may have a mortgage.
> Also, how about commercial properties that can be valued in the millions?
> I think this is way beyond your comprehension. Just bend over and enjoy.
Your figure is wrong too.
Why mischaracterize his opinion, it does your argument no benefit...
--
Regards, Curly
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Don't Be Frightened, Bush Lied
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== 4 of 4 ==
Date: Sun, Sep 28 2008 10:29 pm
From: "nospam"
Not a single word from Bush or anyone in his administration, apologizing
for this economic catastrophe, or even admitting it's a direct result of their
relentless pursuit of deregulation.
These people literally have no conscience. Amoral beasts.
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TOPIC: Can a rental property be used as a Roth IRA investment?
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/3e9345a6d41c09d2?hl=en
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== 1 of 1 ==
Date: Sun, Sep 28 2008 9:01 pm
From: OhioGuy
About a year ago, I found out I could invest my Roth IRA in more than
just mutual funds. Previously, I always thought that mutual funds were
pretty much it for IRA investments. Now I've got the $ in a couple of
safe, dividend paying stocks.
Recently, I saw a bank owned rental property for sale at about 80% of
what I have in the IRA. It got me wondering - could a person possibly
use the money in an IRA to buy a rental property, then use the rental
income to fund their IRA?
I'm not sure how such a thing would work, or if it is even possible.
Of course, last year I thought you couldn't invest an IRA directly
into favorite stocks, and I was wrong there. I know I could easily take
the $ and invest in a REIT stock, which would be similar to what I'm
talking about. However, it would also likely be much less profitable,
and I would have little or no control over anything that goes on with
the investment.
My understanding is that there is a huge fine for early withdrawal of
IRA funds. Not really sure how I could avoid that, since I'd need to
withdraw the funds in there to buy the place.
Anyone have any ideas on this? Thanks for your input.
==============================================================================
TOPIC: Earplugs
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/9867c3b9f1dfc4a0?hl=en
==============================================================================
== 1 of 2 ==
Date: Sun, Sep 28 2008 9:31 pm
From: don@manx.misty.com (Don Klipstein)
NoSpamForMe@LousyISP.gov wrote in
news:e7qtd4t7vq5b4g3faesou06s5r4tta4ncm@4ax.com:
> Anyone wear earplugs?
> One has to live with what one has and since I'm not likely to be able
> to have all live music banned, I guess I have to take measures to
> modify myself to eliminate the horrors. The logical thing seems to be
> earplugs, which if the promotional blah blah is correct apparently
> only cut out the loud noises. You should then be able to eliminate the
> music and actually hear the guy next to you. Is that correct? I'd
> settle for just eliminating the noise including the guy next to you.
> However the big thing in my view doesn't seem to be addressed
> anywhere: When I was just a little 'un my mommie told me never ever to
> put anything in my ear! If I did,
> (in short ruin your ears and maybe die and go to hell)
I have used them. I have seen them mandated in noisy areas in
workplaces in order to comply with OSHA requirements, even at a military
facility.
Live music can get loud enough to need them. I have seen 102 dB
averaged throughout a set at the outer edge of the dance floor in a rock
club once!
They are also used at drag race events sanctioned by NHRA and IHRA. I
found foam earplugs hardly adequate (maybe a little inadequate) at front
row seats near the starting line when "Top Fuel" dragsters and
same-fuel-same-engine ("Top Fuel" or "Nitro") funny cars take off!
There are also headphone-like hearing protection devices, and I got one
from Harbor Freight. I find those adequate for loud live music and loud
nightclubs.
Those need to be combined with earplugs in even louder locations,
possibly such as front row seating near starting line at drag races, and
definitely for those who work the starting line at drag races, those who
work near running jet engines, and possibly jackhammer operators and those
who use power saws on 1/16 inch thick aluminum.
=======================================
Hearing protection is also necessary for training and target
practice/competition use of many, possibly most firearms. However, if you
encounter a weapon-wielding burglar/rapist/robber, worry about causing
your ears a bit of damage should not deter you from giving the felon
trying to victimize you a fatal case of acute lead poisoning!
(Or from causing you to use a noisy weapon to deter a felon to retreat
so quickly as to maybe rely on greater unfairness and greater illegality
of shooting the perp in the back for "self-defense"/"home defense"; AND I
think there is 24/7/365 "open season" on offending criminals that take
longer than about half a second to flee with complete and clear and
obvious abandmondment of further felony progress when the intended victim
presents defensive force of any kind that has any chance of being upheld
as legal by a jury!
Better to shoot victimizers quickly enough to not need to explain why
you shot them in the back!)
========================================================
A few favorite signs of mine:
1. Trespassers beware of flying objects - they will be bullets!
2. Trespassers will be shot. Survivors will be shot again.
3. Shoplifters will be beaten, kicked, stabbed and shot. Surviving ones
will be prosecuted.
4. In God we trust. All others pay cash.
5. We accept personal checks up to $50.00 if you are at least 65 years
old, have at least 6 pieces of government-issued photo ID including
passports from at least 3 UN member countries, and both your parents, all
4 of your grandparents and all 8 of your great-grandparents personally
vouch for your identity and residential address, AND you submit a $100
cash deposit until the check clears! (Or something like that, definitely
just a little milder.)
6. Never mind the dog - beware of owner! (Along with close-up frontal
view of a handgun.)
- Don Klipstein (don@misty.com)
== 2 of 2 ==
Date: Sun, Sep 28 2008 11:03 pm
From: "Forrest"
"Don Klipstein" <don@manx.misty.com> wrote in message
news:slrnge0mhn.7on.don@manx.misty.com...
> NoSpamForMe@LousyISP.gov wrote in
> news:e7qtd4t7vq5b4g3faesou06s5r4tta4ncm@4ax.com:
>
>> Anyone wear earplugs?
>
>> One has to live with what one has and since I'm not likely to be able
>> to have all live music banned, I guess I have to take measures to
>> modify myself to eliminate the horrors. The logical thing seems to be
>> earplugs, which if the promotional blah blah is correct apparently
>> only cut out the loud noises. You should then be able to eliminate the
>> music and actually hear the guy next to you. Is that correct? I'd
>> settle for just eliminating the noise including the guy next to you.
>
>> However the big thing in my view doesn't seem to be addressed
>> anywhere: When I was just a little 'un my mommie told me never ever to
>> put anything in my ear! If I did,
>> (in short ruin your ears and maybe die and go to hell)
>
> I have used them. I have seen them mandated in noisy areas in
> workplaces in order to comply with OSHA requirements, even at a military
> facility.
>
> Live music can get loud enough to need them. I have seen 102 dB
> averaged throughout a set at the outer edge of the dance floor in a rock
> club once!
>
> They are also used at drag race events sanctioned by NHRA and IHRA. I
> found foam earplugs hardly adequate (maybe a little inadequate) at front
> row seats near the starting line when "Top Fuel" dragsters and
> same-fuel-same-engine ("Top Fuel" or "Nitro") funny cars take off!
>
> There are also headphone-like hearing protection devices, and I got one
> from Harbor Freight. I find those adequate for loud live music and loud
> nightclubs.
> Those need to be combined with earplugs in even louder locations,
> possibly such as front row seating near starting line at drag races, and
> definitely for those who work the starting line at drag races, those who
> work near running jet engines, and possibly jackhammer operators and those
> who use power saws on 1/16 inch thick aluminum.
>
> =======================================
>
> Hearing protection is also necessary for training and target
> practice/competition use of many, possibly most firearms. However, if you
> encounter a weapon-wielding burglar/rapist/robber, worry about causing
> your ears a bit of damage should not deter you from giving the felon
> trying to victimize you a fatal case of acute lead poisoning!
> (Or from causing you to use a noisy weapon to deter a felon to retreat
> so quickly as to maybe rely on greater unfairness and greater illegality
> of shooting the perp in the back for "self-defense"/"home defense"; AND I
> think there is 24/7/365 "open season" on offending criminals that take
> longer than about half a second to flee with complete and clear and
> obvious abandmondment of further felony progress when the intended victim
> presents defensive force of any kind that has any chance of being upheld
> as legal by a jury!
> Better to shoot victimizers quickly enough to not need to explain why
> you shot them in the back!)
>
> ========================================================
Well, I too am a second amendment supporter, so I guess, this being a frugal
living group, you should have pointed out that you are such a good shot that
you would have only had to use one, maybe two rounds to do the job.
==============================================================================
TOPIC: CVS Pharmacist calls customer a "Fucking AIDS freak"
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/5f6c5d62367cf192?hl=en
==============================================================================
== 1 of 1 ==
Date: Sun, Sep 28 2008 10:43 pm
From: ezekielk@qwickconnect.net (Chief Thracian)
On Sat, 27 Sep 2008 19:41:02 -0500, Dick Cheney
<wool-pulling@peoples.eye> wrote:
>Hey! I resemble that remark!
Silly boy.
>The President and Cummander In Cheef (get it? heh-heh-heh)
I haven't a clue. :(
--
Final Testament (Gay Quran)
http://www.gay-bible.org
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