UNITED AIR LINES TO LAY OFF 950 PILOTS

Mxsmanic wrote in
:

gatt writes:

Four years ago, everybody was saying "Buy a home NOW. The population
is only growing and real estate is becoming more scare. Prices CAN'T
fall.
Here, have a loan you can't afford on a $300,000 1,200-square-foot
house. You can't lose..." Eight years ago, "BUY TECH STOCK.
INTERNET, MAN! Everybody's hooking up..."

As I've said, playing the financial markets is nothing more than
gambling.


Not that that is a worry for you, of course. I dont think you can beg
stocks.



Bertie

Mxsmanic wrote in
:

gatt writes:

Depends on what you paid for it versus what you can sell it for.

The principle of the "greater fool": Finding someone who is even more
stupid who will pay even more money for something with little or no
intrinsic value.

Somebody's paying a mortgage on three quarters of a million dollars
worth of a $200,000 house. It's been on the market for over a year
now.

Apparently no greater fool exists for that owner.


If only you had the money, eh?


Bertie

Mxsmanic wrote:
gatt writes:

Depends on what you paid for it versus what you can sell it for.

The principle of the "greater fool": Finding someone who is even more stupid
who will pay even more money for something with little or no intrinsic value.

A house has little or no intrinsic value?

Have you the slightest clue why houses are called "real property"?

God you are an idiot.


--
Jim Pennino

Remove .spam.sux to reply.

Nomen Nescio wrote:

2) The US dollar is going in the ****ter.

So, since October of 2007 when light sweet was $83 a barrel, the economy
has gone in the ****ter and the third world has developed THAT fast such
that it's at $143 a barrel now. Uh-huh.

Markets have inertia.

If the market can damage the US economic foundation that substantially,
then we have a real problem. The MBAs are either with us or against us.


Blaming the government is a cop-out.

I strongly disagree!

Independent voters like myself have been warning people about the
government since the "sucking sound" debate of 1992, but we were
ridiculed and called all sorts of things. One I remember is "foolish
Generation X crackpot."

But blaming the government is a cop-out. It didn't fly for the S&L
scam, it didn't fly for the Dot Com bust, or the Enron scandal, or
MCI/Worldcomm, it doesn't fly for the housing/mortgage crisis. There's
a common theme to these collapses, and only a fool thinks that, say,
Pelosi, Clinton or the Bushes are behind it.


And the gummint is now assigning the responsibility for the
financial woes of Americans to the "wealthy" and anyone else who
is smart, an hard working,

Oh, I don't know. I'm reasonably smart and I've worked my ass off in
the telecom industry since college, and let me tell you that the telecom
industry is going to fail again because of the "let's merge and make
money" mentality. I had to sign an NDE that says I won't name the three
national networks that are careening straight into the iceberg. They're
throwing all of the upper management types--who helped the companies
thrive straight through the 2001 collapse--overboard who tell them that
the promises they're making customers and investors don't make sense.

I nearly lost my job for suggesting that we shut down customers who
hosted pedophelia, identity theft and jihadist websites. They provide
the sales and marketing people too much money.

I would be rather surprised to EVER see oil below $100/barrel, again.
But it's a dynamic world! That opinion could change tomorrow.

That's what real estate types said about the homes in our neighborhood.
Hell, you'll never see the bottom half of a $150,000 for a two-bedroom
home again.

Wow!!
So I guess they'll hold a few more hearings and come up with a bi-partisan
resolution that says "Somebody should do something".

No, I think the American people ought to do something.

Four years ago, everybody was saying "Buy a home NOW. The population is
only growing and real estate is becoming more scare. Prices CAN'T fall.


Hell, even a year ago I was hearing "There is no housing bubble".

Yep. And in 2000 I was told to buy telecom company stock at $26/share
because we were going to destroy the market. By 2001, it was delisted
from NASDAQ and liquidated at $.27. But, I'm sure the money counters
and business people knew EXACTLY what they were talking about before
they either left their employees to drown or went right down with 'em.


Eight years ago, "BUY TECH STOCK.
INTERNET, MAN! Everybody's hooking up..."


EIGHT years ago it was already starting to unwind.

Yep. And then they blamed it on Clinton, or Bush. (IE, blaming the
government.)

"Know the difference between what you're seeing, and what people are
telling you you're seeing".

That's damned good advice. I'm seeing gas prices rocket to unrealistic
prices because, for example, two boats were shot at in the Persian Gulf:
http://news.moneycentral.msn.com/pro...5&id=4160 093

"NEW YORK (AP) - Oil prices rose sharply Friday on news that a ship
under contract to the U.S. Defense Department fired warning shots at two
boats in the Persian Gulf. Retail gas prices as expected rose further
into record territory, nearing $3.60 a gallon."

"Meanwhile Tehran has denied there had been any confrontation between
its forces and the US, Iranian media reported."

If the market is that unstable and the speculators that capable of
manipulating a GIANT worldwide economy, it's time for Uncle Sam to
declare war on speculators, not insurgents in Baghdad.

-c

Mxsmanic wrote:
gatt writes:

Depends on what you paid for it versus what you can sell it for.

The principle of the "greater fool": Finding someone who is even more stupid
who will pay even more money for something with little or no intrinsic value.


Somebody's paying a mortgage on three quarters of a million dollars
worth of a $200,000 house. It's been on the market for over a year now.

Apparently no greater fool exists for that owner.

Ironically it's owned by a bunch of Russian immigrants. (Actually, it's
owned by their bank.)

-c

Mxsmanic wrote:

you can increase revenue indefinitely.

Explain how, in the current economic climate, American airlines can
increase revenue indefinitely.

In article ,
says...
gatt writes:

Four years ago, everybody was saying "Buy a home NOW. The population is
only growing and real estate is becoming more scare. Prices CAN'T fall.
Here, have a loan you can't afford on a $300,000 1,200-square-foot
house. You can't lose..." Eight years ago, "BUY TECH STOCK.
INTERNET, MAN! Everybody's hooking up..."

As I've said, playing the financial markets is nothing more than gambling.

There ya go - yer wrong - you *are* arrogant.

You'd be right if the investor was ignorant. But most won't be -
they'll have a diverse range of investments that in most cases provide a
secure return well above bank interest rates.

Sure there's risk, but to call it gambling is absolutely fallicious.

--
Duncan

gatt writes:

If the market can damage the US economic foundation that substantially,
then we have a real problem. The MBAs are either with us or against us.

They are neither. They are simply for themselves.

I nearly lost my job for suggesting that we shut down customers who
hosted pedophelia, identity theft and jihadist websites. They provide
the sales and marketing people too much money.

It's not the job of a telecommunications common carrier to censor the Net.

No, I think the American people ought to do something.

They can vote, but they don't do that very often, and if the truth be told,
their voting rights are quite limited, especially when it comes to a choice of
candidates. In many Presidential elections, for example, the only choice is
"keep the current President" or "change to someone else."

If the market is that unstable and the speculators that capable of
manipulating a GIANT worldwide economy, it's time for Uncle Sam to
declare war on speculators, not insurgents in Baghdad.

Speculators have destabilized societies for centuries. But they are rarely
checked, as most people are greedy enough to want a piece of the pie for
themselves, and who cares what happens to the rest of society?

Dave Doe writes:

There ya go - yer wrong - you *are* arrogant.

Expressing an opinion is not arrogance, even if the opinion conflicts with
your own.

You'd be right if the investor was ignorant. But most won't be -
they'll have a diverse range of investments that in most cases provide a
secure return well above bank interest rates.

Most investors are woefully ignorant, and trust others to manage their
investments. Often that trust is misplaced.

Sure there's risk, but to call it gambling is absolutely fallicious.

Or at least it seems that way until your luck runs out.

writes:

A house has little or no intrinsic value?

The title to the house may have very little intrinsic value in comparison to
its apparent value on paper.