“According to story I read by AA Gill a while back, (who's no saint when it comes to trophy killing). the way these safaris work is a bunch of well-heeled white dudes get shuttled around in a rover from one exotic beast to another inside of a wildlife sanctuary or otherwise roped-off area designated for big game hunting. It's pretty stale; boredom relief for rich white brats who want to pretend their Hemingway. I love the line from the one son: "I am a hunter." No, you are a spoiled brat with no real grit who's never missed a meal in his life, who is compensating for all of that by taking on crocodiles and elephants.”
“I'm always mystified by this kind of sanguine and even apologist attitude. Everyone should stop complaining...because YOU have it alright?? Isn't that a little insular of you? Frankly, I think there is a surprising lack of complaint.
FWIW, I'm doing rather well, too -- but I wonder how much better I would be doing had the goal posts not been moved in favor of the emerging new gilded age. Just because I'm not on the side that's losing doesn't mean I can't complain that the big winners cheated like hell.
It's really not a market indicator for you if you are earning below a certain percentile. Davos has *nothing* to do with you and you will glean nothing from any of the coverage of that junket.
“They're essentially fighting against crony capitalism in Tunisia; the helped start the revolution in Cairo, wher they're fighting against an autocratic government supported (financially and militarily) by the USA.
“This is apples to oranges. You do realize you couldn't even rent a yurt in a field of the Interstate for 281 dollars a night?
26 years ago we weren't in the midst of a forestalled reversion to the mean/overcorrection following the mother of all asset bubbles.”
Candide33 on Jan 25, 2011 at 01:36:38
“And you couldn't buy my house for $281 a month now either, that was just the benefit of putting down roots.
When the tax adjuster says your house is worth $75,000 and the Real estate appraiser says it is worth $250,000 there is something very wrong there. Banks should not lend more than the tax adjuster says it is worth.”
“Rents are dictated much more so by what the local median earners can afford to pay each month. I travel a lot, and I can tell you there is an embarrassment of rentals on the market all over the place.
You can also do like I do and rent beneath your means for a few years to save up enough cash to either pay for a place in cash or take out a 15 year mortgage and pay it off early. There are lots of arguments for someone to want to own their own place, but at least for right now, with the the stalled correction in housing and no real evidence of organic price discovery in almost ANY of the major markets, buying is a fools gambit.”
LisSuzNCrittrz on Jan 25, 2011 at 12:10:06
“"Rents are dictated much more so by what the local median earners can afford to pay each month." NOT in CA!!!! No rent control, laws that support landlords MUCH moreso than tenants, etc etc. I've been paying $1350 for a 600 sq. ft loft; talk about "renting beneath my means"... I can't get much smaller!!!!!!!!! So, unfortunately, your statement simply isn't true for millions of Americans!”
“They should have been nationalized, a la, Sweden. Forget Tarp, we are set to funnel up to 14 trillion dollars worth of back-door and roundabout bailouts to the various financial behemoths that created this quagmire. It is bad policy, pure and simple.
“Yeah, just like millions of other Americans...he owns 7.6 million worth of stock in an American company over which he presided as VP -- a company, no less, that was a key player in the financial apocalypse. Yeah, and just like millions of other Americans, he's going to be the lieutenant to our Chief Executive Officer in the White House.
Non-story, indeed. The fact that you would even couple this guy with the average American shows how out-of-touch and brazenly blaze' you are about what's going on in your country. Next time you get bored, don't hop on the HUFFPO to exercise your sarcasm -- go Google the term 'regulatory capture' or 'conflict of interest.'”
LaughingMan on Jan 11, 2011 at 22:27:46
“First of all, it's supposed to be blasé and not "blaze".
You might want to Google "big" words like that and find out what they actually mean, before hopping onto the internet to give people advise about Googling things.
Secondly, "Conflict of interest"???
Are you kidding me with that?
Are you aware that he has to sell his stock in JP Morgan before he can take the job as White House Chief of Staff?
Do you know why he's obligated to do that?
Thirdly, JP Morgan just like a whole host of other firms that were involved in the Financial collapse are publicly traded companies. Which means their stock is owned by millions of Americans many of whom have nothing to do with whatever questionable decisions or practices they may have been involved in during the Financial crisis.
So are we supposed to summarily condemn them all because of that cursory relationship they have with those firms?
JF K's father, a key player in the Financial and banking crisis that led to the Great Depression was brought into the Govt. by F DR to help fix the mess created therein because of his great knowledge of the inner workings of that Industry back in the 1930's.
Newsflash :- That's how Govt. works.
That's how Govt. has always worked.
You have to bring in the people involved in the Industry and with a greater working knowledge of it, if you really want to fix the problems therein.
“Some time spent reading some of the arguments against your position might be a worthy investment. I can't believe there are still Americans out there as uninformed on the matter of free trade as you are. Those lower prices you enjoy are not a zero sum game. Indeed, that bulk sized beef jerky and the 48" flat screen you bought at the Wal-Mart, in a very real way, helps Wall St and corporations more than it helps Main St. Maybe you don't care, but if so, don't refer to yourself as a liberal. You're not.”
Turukano on Nov 17, 2010 at 20:59:27
“Wow. Can you be anymore conceded? You wonder why most Americans think the left wing is out to get them.”
“Notice how personal savings is framed as hoarding, stockpiling and holdings -- all decidedly more villainous-sounding.
Saving is not just the responsible thing to do, it represents independence. To thwart that by gigging rates is one thing, but to actually try to manipulate perception of savings as a negative and unhealthy byproduct of of the economy is ... so bizarre.”
joe kim on Oct 17, 2010 at 10:26:20
“If you are a saver, and there are so few left that I guess that is why there is no uproar about any of this, you are also getting hit by the lower dollar. Did you know the dollar took a 7% hit against a basket of major currencies in the last month and a half? If you go back to may its closer to 13%. So every few months we lose 7% of our buying power? You may earn 1% if that in a savings accout.
Bernanke is doing his best to destroy what little we have left.
This is complete madness. And while he does this Obama cheers from the sidelines, because he gets to spend more on who knows what.
This government is out of control, and is doing its best to give what we have to the banks that are loaded up on assets like houses, stocks, and bonds.”
“What a very funny post you threw together, Joe. I can almost hear the tee-hee-hee as you clicked POST.
In the highly twisted and very unlikely event that you're not trying to simply stir up some poop, then please feel free to quantify what you mean by best and brightest. The best liars with the brightest money clips, perhaps? Otherwise, put your thumb back in it.”
“Nonsense. ALL of the banks have not paid back the TARP funds...you are clearly omitting the juicy back door bailouts to banks in your equation.”
Peter007 on Sep 25, 2010 at 07:49:22
“You are technically correct. However, 90% of the TARP bank funds have been repaid. The monies that WILL not be repaid come from GM, and FNMA and possible AIG. The TARP wasn't meant as a bailout of any bank. It was an infusion of cash into the entire banking system.
The Feds let Lehman Bros. and Bear Sterns and other banks disappear.
Only when the entire banking system was at risk did the FEDs step in.”
“The problem is corporate lobbyists. The framework behind such behemoths as Wal-Mart and Target and IKEA was designed to concentrate wealth out of the pockets of local merchants and manufacturers and into the pockets of Wall St bankers and shareholders -- the same goon squad that bankrolls your politicians. Vote with your feet. Every time someone shops at Wal-Mart, is a small but sure move ever more toward that wealth transfer. Skeezy ads or not, the stuff was loomed and made in America.”
biodieselvw on Aug 18, 2010 at 09:42:46
“Oh come on, without Wal-mart, target, and ikea, the poor in this country wouldn't be able to consume. You expect a family of four to shop at AA when they have a tight budget? Get over yourself. It's called economies of scale. Big companies can sell products for less. It helps the consumer.
AA went under because the consumers didn't buy. If having American made clothing was so important to people then they would buy it, obviously it was not.”
“Ha! I love how suddenly everyone fancies themselves doyens of fashion. Meanwhile, in all my travels, what I see most Americans wearing are the puffy white booties or flip flops, distressed jeans or jorts, shaved heads and the occasional sun visor -- preferably at night. Maybe a big calf tattoo to really jazz things up and to let the world know you're serious. Don't forgot the Axe body spray and the I-Phone. I'll take eww-boring-old-plain t-shirts, thank you. I have some from seven years ago and they have kept their shape and color almost like new.
That said, I always disliked anything I heard about the CEO and never liked their skeezy ads, though the child porn comparisons are more creepy in the sense that there seems to be far too many people on here who have a reference to go by...”
“Er, yeah -- that's actually not the "laid backness" you're witnessing so much as a local awareness of the take-no-prisoners Austin, TX highway patrol.”
Godweiser on Jul 17, 2010 at 06:13:27
“Good to know that I'll have to slow it down when I get down there. I'm used to the 'take no prisoners' attitude of Marylanders on the Beltway, where you get some guy in a BMW flipping out to the guy he's talking to on the cell phone if you aren't going 80 in a 55 zone.”
Boobuzuela on Jul 17, 2010 at 05:10:40
“Having lived there awhile, I'm gonna agree w ya.”
“Sorry, I don't think a bachelor's degree ever elevated anyone beyond the pitfalls that ensnare the less educated (and less indebted) working slob. I give you the sub-prime debacle as an example. Plenty of college grads were buying up houses they couldn't afford with exotic mortgages they didn't understand, unfettered by all that good education for which they overpaid.
Besides, to your original post -- there was a study done in '08 that revealed student's overwhelming bias toward more expensive colleges, as they conflated expense with prestige. One University cited in the study raised their tuition 30% in one year and saw their enrollment treble.”
“This is not an argument for living within your means or abiding by a written contract. Again, if the contract has a put option, there is nothing wrong with defaulting. It is written into the terms of the contract. Corporations do it all the time. As for living within your means -- I agree, but our socio-economic system IS in fact rigged so that money movement is more important than savings.
How does one control his own destiny when your are effectively disenfranchised? The banking oligarchy is gigging the system in this country (including the GSEs) in order to gird their profit making schemes. Yes, J6P shares some blame for his greed and stupidity, but guess whose more culpable -- the addict or the dealer? Think about it, the banks fomented this asset bubble in order to have more cruddy mortgages to securitize while the Fed turned the other cheek, lowering interest rates to help the process along. It generated billions upon billions for Wall St. and when it all came crashing down, policy was quickly ushered into place to bail them out with taxpayer dollars in order to make them whole again and get them right back to their blackjack tables while the taxpayer... eh.
“Nonsense. It's business. If there is a put option written into the contract, then there is no Damocles Sword dangling over you to honor it. Simple as that. Squatting is reprehensible, but backing out of a contract? You take your lumps and move on.”
“Yes, interest rates would go up and prices would come down in tandem. A good thing. Why is affordable housing considered a bad thing? Maybe if you plan to tap your house for a HELOC it's a bad thing. Higher rates are a good thing! Among other things, you can afford more house with the same money, your property taxes are lower, and as rates go down in the future, your home value will increase. Rates have nowhere to go but up from here...so buy now, and guess what?
As for values going down...I think you mean, values correcting, which is inevitable anyway.”