Old Habits Posted August 16, 2003 Report Share Posted August 16, 2003 Sinclair says buy calls on gold and puts on treasuries. Leave the shorts alone until Kenny confirms the top. (whoever the hell Kenny is) Kenny is the unlucky one and dies a different way each episode. He is poor and lives in a run-down shack with his violent and drunken family. He is muffled when he speaks, and it's a good thing considering what he says is usually pretty filthy. Link to comment Share on other sites More sharing options...
Guest Icky Twerp Posted August 16, 2003 Report Share Posted August 16, 2003 I'm an Austrian Economist, in a simple minded way: I still believe in economic gravity (what goes up must come down) I still believe in economic arithmetic (1 + 1 = 2, not 5) I do get sick of people saying one more up thrust, then down hard! but since I believe we are going down sometime I can't blame them for being wrong when they believe that we are going down, too. Now that Piles has bailed on that proposition, all I have is my own conviction. Now that The End has gone silent, all I have is my own still, small voice... We WILL be going down... Link to comment Share on other sites More sharing options...
GregFokker Posted August 16, 2003 Report Share Posted August 16, 2003 I'm an Austrian Economist, in a simple minded way: I still believe in economic gravity (what goes up must come down) I still believe in economic arithmetic (1 + 1 = 2, not 5) I do get sick of people saying one more up thrust, then down hard! but since I believe we are going down sometime I can't blame them for being wrong when they believe that we are going down, too. Now that Piles has bailed on that proposition, all I have is my own conviction. Now that The End has gone silent, all I have is my own still, small voice... We WILL be going down... Thank you, Icky. I believe so too, but am afraid of losing money if I'm wrong again. Link to comment Share on other sites More sharing options...
Guest Posted August 16, 2003 Report Share Posted August 16, 2003 Mortgage lender closes, leaving borrowers in limbo. Mid-sized lender Capitol Commerce Mortgage abruptly closed Friday, stranding hundreds of prospective borrowers who had been counting on the firm to finance home purchases and refinancings at low rates that are no longer available. http://www.sfgate.com/cgi-bin/article.cgi?...1900EDT0304.DTL Link to comment Share on other sites More sharing options...
machinehead Posted August 16, 2003 Report Share Posted August 16, 2003 The day I moved into my house in California, my next door neighbor came over and told me he was paying $600 a year in property taxes. I was paying $6000. What's more, the property taxes go up 2% a year ($120 for me, $12 for him). There's no way that's going to change. There are too many old people (my neighbor's 85) who would be kicked out on the street (with their $900,000 going away present) if they changed the rules. That's the logic used to support rent control in New York City (and San Francisco, and Santa Monica, and other Peoples' Republics). For every old person not kicked out on the street by rules which reward the immobile, there's a young or newly arrived person who is kicked out on the street. Arbitrarily protecting some, means arbitrarily punishing others. Not only do unequal property taxes violate the Constitution, they are viciously misanthropic. Limiting property taxes was a worthy cause, but the implementation via Prop. 13 was deeply flawed. Unfortunately in legitimizing the system to provide that all equally-assessed properties pay equal tax, the overall tax burden will (unnecessarily) be increased. The ratchet effect lives. And a principled cause is polluted by impure motives. Some admire Warren Buffett for being a rich businessman. But nota bene: chieftains of big business share common interests with politicians, and shouldn't be trusted. Warren Buffett is an egregious tax-and-spender who opposes eliminating the ugly estate tax that rapes small businesses and picks the pockets of the deceased. Caveat elector! Link to comment Share on other sites More sharing options...
wndysrf Posted August 16, 2003 Author Report Share Posted August 16, 2003 Mid-sized lender Capitol Commerce Mortgage abruptly closed Friday, stranding hundreds of prospective borrowers who had been counting on the firm to finance home purchases and refinancings at low rates that are no longer available. The company boasted of its reliability on its Web site, noting that "the market may change, but our commitment won't. Year after year, Capitol Commerce Mortgage is there for you, in good markets and bad." I tried going to the company's website, and it was BLANK. Link to comment Share on other sites More sharing options...
Guest Icky Twerp Posted August 16, 2003 Report Share Posted August 16, 2003 Thank you, Icky. I believe so too, but am afraid of losing money if I'm wrong again. Ah, yes, Fokker, you are light in the fog, and a comfort, always. "plan for the worst, and hope for the best" what does that mean for a bear? the opposite it does for a sheeple. If everything doesn't go to hell in a handbasket, I'll still have a job and life will go on... If everything does go to hell, anything short of a full-blown Hypertiger scenario, then I've been hedged to "benefit". If we stay in the "trading range" forever, due to manipulation by ... whomever... it will be as if I'd stayed in cash all along...my entry and exit points suck so bad... so bad... Link to comment Share on other sites More sharing options...
depends Posted August 16, 2003 Report Share Posted August 16, 2003 You will not like this chart - I know I don't. I hate it, but I respect it. Link to comment Share on other sites More sharing options...
Guest Posted August 16, 2003 Report Share Posted August 16, 2003 wndysrf, they were big spenders though Waikiki Wow In the Spring of 2003 Guests of Capitol Commerce Mortgage were treated to a special evening cruising the calm waters just off Waikiki and spending some quality time with Whitney, Diana, Shania and Cher ... our fun loving impersonators ... Wow. http://www.thewrightcompany.com/CCM.html Link to comment Share on other sites More sharing options...
Guest Posted August 16, 2003 Report Share Posted August 16, 2003 Anyone think the additional property taxes in my POS state will lead to a little INFLATION? Inflation in the worlds 5th largest economy shouldn't be too bad for gold prices. Prop. 13 naysayers?...........Let me respectfully disagree. In the 70's, California had a property tax rate of 2.67% w/ no limits on either rate increases or appraised values. Some homeowners were getting 25%-75% PT increases in their mailboxes sometimes twice a year. The famous Cali PT abuse story of a blue-hair retired couple who made 1900 a year were given a PT bill raise to 1800 a year because a house down the street could be zoned for a new motel is not fiction.........or is the corner spec. house used for rental income and flipped by the owners every year causing yearly PT bill increases for their more stable neighbors. Bothered by the fact that neighbors are paying different tax rates and that isn't fair?..........I guess everyone on this thread pays the same % of income taxes based upon their income, yes? There should be more tax revolt limit on taxation and spending intiatives on the ballot every year. California's problems are from insane spending programs, the hand-out mentality of the states residents and environmentalists run amok from their educations at the nations most liberal universities. I wont even get into the illegal immigration/ open border issue and the costs of that nightmare. Warren Buffet's statement shows just how out of touch he is with Cali's real problems and why the middle of the road politics that will most likely win in October will just push out the impending cataclysmic financial disaster and tax rate increase on regular joe's this nation has ever seen. So........DROOY a good dong here? Link to comment Share on other sites More sharing options...
Guest Posted August 16, 2003 Report Share Posted August 16, 2003 I just found the perfect site for stoolie Captain's log http://www.wavhounds.com/featured/fart-trek/index.html Link to comment Share on other sites More sharing options...
Pee Brain Posted August 16, 2003 Report Share Posted August 16, 2003 rent control and prop 13 are two very different issues. you buy a property and CA gets to raise the assessment by 2% per year. the alternative is that my property value goes from $100,000 to $500,000 (on paper) and my taxes quintuple, while my income does not. i should note, however, that this is one issue with a strong case for the repeal of Prop 13. i dont care im leaving. the arguement about the "immobile" is nonsensical at best - the renter is highly mobile - who has a greater stake in the community? if property values decline strongly, then any assumed benefit Prop 13 will be mute - the issue has only come to fore, 'becuase property values have increased strongly. the real issue is: why does the state tax my home in the first place? rent control is just wealth transfer from the property owner to the renter. if the renter cannot afford to pay market rent, then they should move. the govt has no business dictating rents. i posted something before and deleted it - it was too political. CA problem is NOT Prop 13 and the repeal of Prop 13 will be a tax increase instrad of spending cuts... old habits: increasing the tax on anything does not lead to higher values or inflation. Link to comment Share on other sites More sharing options...
Old Habits Posted August 16, 2003 Report Share Posted August 16, 2003 Everything you said is spot on. DROOY looks good to me. Link to comment Share on other sites More sharing options...
Old Habits Posted August 16, 2003 Report Share Posted August 16, 2003 PB - I didn't mean to imply that inflation would hit housing, it will devastate housing prices. but I disagree that higher taxes are not somewhat inflationary. Worker's will need more to cover those taxes, employers will charge more for their services, that's my best guesstimate. Link to comment Share on other sites More sharing options...
Goldmember Posted August 16, 2003 Report Share Posted August 16, 2003 I just found the perfect site for stoolie Captain's log http://www.wavhounds.com/featured/fart-trek/index.html Sled, you know what you've done, of course? Prepare for all kinds of fun when most of the Stoolies who work in their cubicles during the day are experiencing strange noises emanating out from their computer's speakers when loading or refreshing pages here..... Top one on the right is my favourite.... Link to comment Share on other sites More sharing options...
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