Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: James Hutton who wrote (161093)	10/29/2008 8:44:40 PM
From: Wowzer	Respond to of 306849

You are a fool...and so am I because I did the same. I am getting my checkbook out as we speak because my neighbor is whining about his 3 bmw leases. I also need to help the banks out on the losses from the leases too correct? How much should I give him Uncle Sam? I am beyond pissed

To: James Hutton who wrote (161093)	10/29/2008 9:41:22 PM
From: Tommaso	Read Replies (7) \| Respond to of 306849

No, let's be patient and study the situation. Anything this crazy must provide opportunities, Of course, I agree that it's outrageous. But at least so far no one is saying, "Anyone who has no debt is un-American and must be shot." OK, here's what I in fact have already done. Transfer as many assets as possible to Canada. The banks are sound (so far); they run a budget surplus; and they run a trade surplus. Their currency is terribly undervalued. If I were younger and more active, I would buy a house in Canada right now and establish some sort of residency, if not citizenship. Just today, the Canadian dollar appreciated over 5% against the $USD. Put a lot of assets into gold in a safe deposit box in Canada, if not Swizerland. Buy Canadian gold and uranium mining stocks. Buy Canadian Oil Sands Trust. I already did this with the bear market funds that I liquidated. I already have a 30% gain, but I am not about to sell.

To: James Hutton who wrote (161093)	10/29/2008 9:46:30 PM
From: TH	Respond to of 306849

JH, I just gave you a people mark, so you won today <g> But you are correct, and nice guys finish last. Which is why I'm working so hard against my natural character to become an irresponsible prick. GT TH

To: James Hutton who wrote (161093)	10/29/2008 10:50:34 PM
From: Jim McMannis	Respond to of 306849

I've seen great posts like yours for years. Nothing changes. People just keep bending over. In 6 months these will look like the good old days.

To: James Hutton who wrote (161093)	10/30/2008 2:04:39 AM
From: kikogrey	Read Replies (1) \| Respond to of 306849

I'm even stupider than you. Besides having absolutely no debts, I even make my own coffee in the morning and brown bag it to work. Who even knew that I could have had breakfast at Starbucks, lunch at the local chow house AND get my mortgage taken care of!!

To: James Hutton who wrote (161093)	10/30/2008 6:58:08 AM
From: Dan3	Respond to of 306849

Re: And now I'm paying for all these geniuses who have bigger houses, bigger newer cars, loads of debt, lots of margin, no savings, and only believe in privatizing profits and socializing losses. The corporate boards and hedge funds have trashed the economy by running pretty much everything into the ground, embezzling 150% of all profits and loaning the rest to deadbeats. We need a stimulus activity to avoid chaos - starving mobs in the street burning down houses. So why not return the funds that were paid in as FICA taxes, then used for a huge tax cut for the top 1% who then screwed it all up? A big, retroactive FICA tax holiday puts the "fix" in where it will do the most good. People who were careful still get rewarded. People who weren't totally insane get bailed out. The creditors of the greediest fools get a partial bailout so that they don't go down too. Sure it isn't perfect, but it could be done quickly, would actually fix the problem, and is somewhat fair.