Posted on 05/30/2006 3:15:27 PM PDT by OB1kNOb
I'm in your mind, you're incredibly funny.
I really crack me up sometimes.
Showing poor David that debt went up about $3.5 trillion while assets went up by nearly $13.9 trillion makes you a cheerleader. He's funny!
Maybe the home will get his meds straightened out and he'll start making sense again? Assuming he ever did.
Silly complaint. Frankly, I'd rather have a successful business man or woman in that position than some middle class Joe Schmoe, who has not made something out of himself. No offense, but what would Mr. Schmoe know about the financial world?
I don't think it would matter a hill of beans. He won't be in a policy making position on that issue.
I see you're still struggling with your daddy issues, Todd.
I suspect you're on meds and have been since the first grade, since you can barely speak without lashing out.
I've already got you figured, Todd. You're a terrible underachiever in a lousy job, but you can come to a message board to feel like someone. You're a technocrat with no authority.
Your highest and best use is as a message board gadfly. How's that workin' out for you?
You're a terrible underachiever in a lousy job, but you can come to a message board to feel like someone. You're a technocrat with no authority...Your highest and best use is as a message board gadfly. How's that workin' out for you?
quit talking about me!
Shhh! That's my "John Edwards (the psychic)" approach.
"I'm getting the letter T, is there a T out there?"
Toddster,
Inflated assets always produce high equities. The calculator doesn't know whether the numbers are sound, and neither do you.
Your debt is real. Your values for your assets aren't. Keep kidding yourself.
Thank you! Wise words from an observer who knows what he's seeing.
I rue the day these so-called business round table discussions were begun on Cavuto, Buttner, and others. It's all a bunch of loud, obnoxious, in-your-face advocates who each worship at some economic principle. I cannot imagine anyone who is a businessman taking any of those shows seriously.
Most truly successful businessmen in America live by some simple rules. Stay away from floating interest rate debt. Don't buy what you don't need. Keep your cash position strong. Use nonrecourse financing for real estate if you can. Get partial release provisions on dirt.
Simple rules like that.
Most of the successful business people I know would rather win in business than in debates.
Some of the posters on FR economic threads remind me of guys I knew in the 80s. Currency and commodity traders who would descend into cocaine. You could always tell when they had a drug problem because the "markets" would suddenly be "wrong" or act "irrationally." My answer was always the same, "no, the markets aren't wrong or irrational, your judgement is off. It's not about what you want them to do or what they should do. It's about what they are doing."
As for the talking heads. They're being paid to mouth off. I say "good for them." But I wouldn't take their advice seriously.
You remember them, too.
Did you ever see the character Sean Penn played on Saturday Night Live following the October 1987 crash? He played one of those guys.
The 80s were littered with them. They were whirling dervishes of rat-tat-tat talk, spinning wildly, believing all the while that things could only get better.
Bears make money, and bulls make money, but hogs get eaten alive.
If the cost of imports increase, then domestic prices will follow them up.
Economics 101.
BUMP
I remember them vividly. Though I don't remember the Sean Penn thing.
Unfortunately, the 1980s look strangely innocent compared to today's markets.
I had the good fortune of getting some guidance from older businessmen with whom I worked. In the 1970s, when I had ideas but no capital, I figured that I needed money partners, so that's what I went looking for. I found them, and in the process, they taught me how money partners think.
Back in the 1970s I had the good fortune of meeting the last of the gentlemen wall street guys. they weren't saints, not by any standard, but they had their own sense of morality/ethics. Today, not even that exists.
I had the good fortune of getting fatherly advice from a Texas businessman in the oil field supply business. He was a real prince. In the late 1970s, at the top of the market, he sold his company to a big board concern, and got permanently fat, for himself and his heirs.
He taught me how a man should graciously pick up the check, treat all waitpersons well, acknowledge everyone who works for you with their name and eye contact, avoid personal liability on deals where possible, and how to take time off and forget about it.
183 debt went up about $3.5 trillion while assets went up by nearly $13.9 trillion
190 Your debt is real. Your values for your assets aren't
Maybe this is where our discussion diverges. When most of us want to know how much money is real, we add up things like bank balances that all can look at and make the same conclusions.
Dave, either you can show us hard numbers or you have some kind of proprietary reality system that you aren't sharing with the rest of us.
Since you two guys have so much fun stroking each other, I'll get back to talking to others, and you can continue your lovefest.
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