Show Comments That Contain...
  • On 19 Oct 2014 in The implications of being right about stocks, yup1 said:

    Massive government intervention, including massive Federal Reserve intervention. All of the intervention helped your absolutely horrible call to buy housing in 2009 lead to you making a killing. /golfclap

    You got totally lucky and are so full of yourself that you rule out anything but your awesomeness. Iwog you are not that awesome. You made a shit call. You got totally lucky. Face the facts. You won but not due to your brilliance, more like blind luck.

  • On 19 Oct 2014 in The implications of being right about stocks, yup1 said:

    iwog says

    I was in the mortgage market prior to any QE or other drastic policy and I sat in a front row seat.

    Oh REALLY

    http://projects.propublica.org/bailout/main/timeline

    Summary
    2008
    March
    Mar 14Fed Backs Sale of Bear Stearns
    The Federal Reserve announces that it will provide $30 billion in financing to support JPMorgan Chase’s acquisition of Bear Stearns.

    July
    Jul 30Treasury Gets Authority to Rescue Fannie and Freddie
    President Bush signs the Housing and Economic Recovery Act of 2008, which authorizes funds for a government rescue of Fannie Mae and Freddie Mac.

    September
    Sep 7Government Rescues Fannie and Freddie
    Fannie and Freddie are placed under the conservatorship of the Federal Housing Finance Agency. For each company, the current CEOs and board of directors are dismissed, and Treasury receives warrants for each representing 79.9 percent of the common stock. Under the terms of the rescue, the Treasury commits to invest up to $100 billion in each company to compensate for their losses.
    Sep 15Lehman Goes Under
    Lehman Brothers declares bankruptcy, accelerating the deterioration of the credit markets.
    Sep 15Bank of America Gobbles Up Merrill
    Bank of America announces it will buy Merrill Lynch.
    Sep 16First AIG Bailout
    With AIG collapsing, the Fed bails it out with access to an $85 billion credit line.
    Sep 20Paulson Pitches TARP
    Treasury Secretary Hank Paulson releases a three-page, $700 billion proposal to purchase troubled mortgage-related assets, called the Troubled Asset Relief Program.
    Sep 25WaMu Collapses
    Washington Mutual collapses and is acquired by JPMorgan Chase.
    Sep 29The House Rejects TARP
    The House votes down the administration's bailout proposal, which had been prepared in concert with congressional leaders.

    October
    8 bailouts: $115B
    Oct 1The Senate Passes TARP
    The Senate passes a revised version of the bill, stuffed with tax breaks.
    Oct 3The House Passes TARP
    The House passes the bill, and the president signs the $700 billion Emergency Economic Stabilization Act into law.
    Oct 8Second AIG Bailout
    The government restructures its bailout of AIG. The insurer gets access to $37.8 billion more in loans.
    Oct 14Paulson Rolls Out Bank Investments
    The Treasury Department announces that it will invest up to $250 billion in the nation's banks via the Capital Purchase Program, a subcomponent of the TARP, and billed as investments in "healthy banks." Paulson announced nine major banks signed on for a total of $125 billion in investments. (More about the program here.)
    Oct 3Wells Fargo Buys Wachovia
    Wachovia, rejecting a previous proposal with Citigroup, agreed to merge with Wells Fargo for $15.4 billion

    November
    46 bailouts: $90.3B
    Nov 10Third AIG Bailout
    The government restructures its bailout of AIG for the second time. Treasury invests $40 billion in AIG as part of the government’s now-$150 billion effort to keep AIG from collapsing.
    Nov 12Paulson Scraps Original Bailout Plan
    Paulson announces that he's scrapping the plan to purchase troubled assets. The capital investments in the banks proved to be a "more powerful" means of boosting the financial system, he said.
    Nov 14Freddie Mac Asks for $13.8 Billion
    Freddie Mac reports a net loss of $25.3 billion for the third quarter of 2008. To fill the hole of its losses, the Federal Housing Finance Agency requests $13.8 billion from the Treasury.
    Nov 23Citigroup Bailed Out
    The Treasury announces that it will invest $20 billion more in Citigroup; this is in addition to a $25 billion investment in October through the Capital Purchase Program. The government also agrees to use up to $5 billion to help Citi absorb losses from a $301 billion pool of assets.
    Nov 25Fed and Treasury Roll Out Program to Spur Lending (TALF)
    The Treasury and Fed announce the Term Asset-Backed Securities Loan Facility (TALF), a Fed program that will lend up to $200 billion to owners of highly rated asset-backed securities in order to spur consumer lending. Treasury puts up $20 billion to support the effort.

    December
    166 bailouts: $65.4B
    Dec 19Auto Bailout Announced
    The Treasury announces that it will make loans to General Motors and Chrysler to prevent bankruptcy.

    2009
    January
    150 bailouts: $43.3B
    Jan 15Senate Votes to Release Second Half of Bailout Funds
    Under the Emergency Economic Stabilization Act, Congress had the power to block the release of the second half of the $700 billion funding authorized by the bill. But after promises by the incoming administration about how it would spend the money, the Senate voted to allow access to the remaining $350 billion.
    Jan 16Bank of America Bailed Out
    The Treasury announces a deal with Bank of America similar to the Citi deal. It will invest $20 billion more in Bank of America; this is in addition to a $25 billion investment in October through the Capital Purchase Program. The government also agrees to help Bank of America absorb losses from a $118 billion pool of assets. That agreement, however, is never finalized.
    Jan 20Barack Obama Takes Office
    Obama is inaugurated as the 44th president.
    Jan 26Geithner Takes Office
    Timothy Geithner is sworn in as Secretary of the Treasury.

    February

    109 bailouts: $31.3B
    Feb 10Geithner Pitches New Bailout Plan
    Geithner rolls out the Financial Stability Plan. Geithner promises to perform "stress tests" on the nation's biggest banks to determine their health and the necessity of more government investments, announces that the government will form some sort of public-private partnership to buy troubled assets from the banks, says he'll commit an additional $100 billion to boost the TALF and promises the administration will soon introduce its foreclosure prevention plan.
    Feb 17Stimulus Bill Passes, Limiting Exec Bonuses
    President Obama signs the American Recovery and Reinvestment Act of 2009, which includes a section limiting the bonuses of the highest earning executives at firms that received bailout money.
    Feb 18Rollout of Mortgage Rescue
    The administration announces its broad plan to prevent foreclosures and promote mortgage loan modifications. (More about the program here.)
    Feb 18Treasury Ups Limit for Fannie and Freddie to $200 Billion
    Geithner announces that the Treasury is increasing its funding commitment to both Fannie and Freddie from $100 billion to $200 billion.
    Feb 25Stress Tests Begin
    Bank regulators begin their stress tests of the nation’s 19 largest banks and promise that they'll be finished by the end of April at the latest. Treasury officials explain that the tests will be used to determine how much more money the banks need to survive a steep economic downturn.
    Feb 26Obama Administration Makes Room for $750 Billion More
    The administration's budget blueprint suggests that the Treasury Department might need as much as $750 billion more to stabilize the financial sector.
    Feb 26Fannie Mae Asks for $15.2 Billion
    Fannie Mae reports a $25.2 billion loss for the fourth quarter of 2008 and losses for all of 2008 totaling $58.7 billion. To fill the holes of its losses, the Federal Housing Finance Agency requests $15.2 billion from the Treasury.

    March
    68 bailouts: $77.8B
    Mar 2Fourth AIG Bailout
    The government restructures its bailout of AIG for the third time. Treasury says it might invest up to $30 billion more. Together, the Fed's and Treasury's commitments add up to $180 billion.
    Mar 3Fed Launches TALF
    The Fed and Treasury announce the launch of the TALF.
    Mar 4Administration Launches Homeowner Bailout
    The Treasury launches its plan to promote mortgage loan modifications and pledges to spend $75 billion on the effort.
    Mar 11Freddie Mac Asks for $30.8 Billion More
    Freddie Mac reports a $23.9 billion net loss for the fourth quarter of 2008 and net losses for 2008 totaling $50.1 billion. To fill the hole of its losses, the Federal Housing Finance Agency requests $30.8 billion from the Treasury, bringing the total bailout to $44.6 billion.
    Mar 15AIG Pays Out Bonuses to Execs
    AIG pays out $165 million in retention bonuses to executives who work in the business unit that was primarily responsible for sinking the company.
    Mar 16Treasury Announces Small Biz Program
    The Treasury announces a program to spur credit markets for small businesses by purchasing up to $15 billion in securities backed by Small Business Administration loans. The program never gets off the ground.
    Mar 19Treasury Announces Auto Parts Program
    The Treasury announces the Auto Supplier Support Program, a plan to provide up to $5 billion in financing to auto parts suppliers. (More about the program here.)
    Mar 23Treasury Announces Toxic Asset Program
    Treasury Secretary Geithner rolls out the administration's plan to use government capital and financing to team with private investors to buy up toxic assets. Between $75 billion to $100 billion will be dedicated to the effort. (More about the program here.)

  • On 19 Oct 2014 in The implications of being right about stocks, yup1 said:

    iwog says

    What the fuck does the fed have to do with that calculation?

    What does the Fed have to do with the super low rates that you financed for? What does the Fed have to do with reopening the credit markets? What the fuck does the Fed have to do with your real estate portfolio going up massively in value. They made credit available which would not have been available otherwise.

    We would have gone into massive deflation and your holdings would have fucking eaten you alive. Your carrying costs would have stayed at $1100 and your rents would have crashed. Deflation crushes asset prices, wages, rents. Go read about the great depression. I cannot believe that you are so ignorant. I think that you think you are the smartest fuck around but you believe this garbage. Iwog, You got bailed out by the fed, you did not make some fucking brilliant move. The fed fucking made you rich. Get over yourself.

    It appears that you are just a lucky SOB.

  • On 19 Oct 2014 in Desalinization: A permanent solution to CA water problem, yup1 said:

    Pipeline pumping project to transfer water from the Columbia river in Washington to Lake Shasta in California. Shasta dam could be raised the 200 feet that it was designed for and hold upwards of 14 million acre feet. Columbia river discharges an average of 192 Million acre feet of fresh water to the ocean every year. Problem solved!

  • On 19 Oct 2014 in The implications of being right about stocks, yup1 said:

    iwog says

    yup1 says

    If the Fed announces QE4 you will be wrong, if they do not you will be correct.

    What the fed does is totally irrelevant.

    Totally? You cannot truely believe that? If you do than you are just a lucky SOB who got rich off the fed. Buying housing in 2009 would have been financial suicide without "The Fed" and massive government intervention. Period. End of story.

  • On 17 Oct 2014 in The implications of being right about stocks, yup1 said:

    http://research.stlouisfed.org/fred2/graph/?g=NZZ

  • On 17 Oct 2014 in The implications of being right about stocks, yup1 said:

    If the Fed announces QE4 you will be wrong, if they do not you will be correct.

  • On 20 Sep 2014 in The big right-wing housing bubble lie - OC Housing News, yup1 said:

    Bigsby says

    Seriously, who taught you English?

    I was thinking the same thing, WTF...

  • On 19 Sep 2014 in Scotland, fuck yeah!, yup1 said:

    Now we know whats not under the kilt......ballz!

  • On 18 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    bubblesitter says

    Math gets murky day by day.

    129332 (way to come up with 10k more income)
    -17500 401k
    -5500 IRA
    -9129 FICA (FICA is based off of gross income)
    -600 SDI
    -8270 FIT
    -2910 SIT
    -48000 PITI
    -15000 529
    -12000 Food/ENT
    -4800 Utilities/cable/internet/insurance

    +5623

    Using your numbers but adjusting for your totally light FICA your disposable income gets smaller and smaller.

    Oh damn I forgot you only spend $500/month on a family of 4 for food/ent ROFL

    yup1 says

    Our $12K is more like $6K for Food/ent;

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    My point is that his home is still way too expensive for him. He is living like a poor guy in a million dollar home. He is house poor and has no clue that he is house poor. His neighbors they know he is house poor. His kids they know. His wife oh yeah she knows.

    Keep on bragging about your paper gains and how you buying a house was a great investment. I will keep laughing at you saying your food and entertainment budget for a family of 4 is $500/month and with a straight face claiming you are not house poor........

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    All with a salary between me and my wife of $120K/yr.

    You keep changing the facts!

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    BTW, my wife decided to work part time to raise our kids. She is now going back full time and switching jobs. That should at least double her income since her pre kid salary was 3.5X the current. Still want to say Im overspending?

    So you have had this discussion and only now you are going to divulge that yes in fact you have more income, which was my whole fucking point. ASS!

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    http://www.fns.usda.gov/sites/default/files/pd/18SNAPavg$PP.pdf

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    yup1 says

    You will also notice that I only allocated $1000/month for food/ent/household goods/pet care/pet food/kids clothes/your clothes/haircuts/makeup/gas/maintenance/repairs/travel/and your trips to the Wendy's value menu..........

    Waitingtobuy says

    Our $12K is more like $6K for Food/ent;

    $500/month for a family of 4? That is $1.38 per meal per person. You are a fucking liar. SNAP (FOODSTAMPS) pays $604/month for a family of 4 in California. You are living off 80% of what a broke dick homeless, living in the car single mother of 3 lives off of, but you are in a million dollar home.

    SO JUST IN CASE YOU STILL DON'T GET IT YOU SAID YOU ARE GOOD AT MATH, YOUR MATH DOES NOT ADD UP, THAT MEANS YOU ARE LYING BECAUSE NUMBERS DON'T LIE!

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Must be nice to have free health insurance......

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    129332 (way to come up with 10k more income)
    -17500 401k
    -5500 IRA (which I don't think is legal with a 401k)
    -4590 FICA
    -600 SDI
    -5500 FIT
    -2000 SIT
    -48000 PITI
    -15000 529
    -12000 Food/ENT
    -4800 Utilities/cable/internet/insurance

    +13842

    -15000 profit sharing that I will assume comes from your company and not out of your 129k salary although I will point out that you made it seem as though it came out of salary.

    You will also notice that I only allocated $1000/month for food/ent/household goods/pet care/pet food/kids clothes/your clothes/haircuts/makeup/gas/maintenance/repairs/travel/and your trips to the Wendy's value menu..........

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    Enlighten us on your situation. Do you own or rent? How much? Any money in the bank for emergency fund, college, retirement? Im curious. Or do you just enjoy taking pot shots? Pony up or shut up, Suze Orman.

    I make more than you, my house payment is less than half of yours and is a 15 year loan, I have a 1 year emergency fund, I have retirement savings and am on track to have way more income than I need at age 62, I am planning on paying off my house in the next 5 years.

    I know you are full of shit because I have layed out cash light outlays for some of your expenses and I have burned up ALL OF YOUR INCOME! Pony up where are you getting the 5-10 K to live off of you cheap million dollar home "owner".

    Waitingtobuy says

    Yes, I was making $240K before the downturn when the money was good. (ESPN was a client) Now, it's about half. Was able to save a lot then.

    You PERMANENTLY lost half your income 5 years ago and bought a house that you can barely afford. I stand by my statement, you are an idiot!

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    You claim that you make 120k and live in a house you bought for 800k that is now worth 1M.

    A. You wouldnt qualify for the loan
    B. Your claims of all your savings for retirement and kids college would leave you with no money.
    C. You are admitting that you live like a poor person in a million dollar home. I would hate to be your neighbor.
    D. You spend way too much money on housing for your income. You are a super saver but drop 4k a month on rent or mortgage, that would be ok if you made 200k but not at 120k. You do realize you make 10k/month BEFORE taxes and you are saying spending 40% of your pretax income on a house is OK. Really.....
    E. When did you save this 100k? You rented for $3800 from 07 through 11 and now you live paycheck to paycheck which means you lived paycheck to paycheck from 07-14.

    You are a housing snob. You got completely lucky on your timing of buying and selling houses. Now you are on here with a stupid thread about how your house is not a terrible investment when you are house poor. In my opinion it makes you look like an idiot. You under estimate the cost of everything in your million dollar home. If you own it for even 10 more years all the shit you said you would just fix will have to be replaced. Kitchen, bathrooms, HVAC, you are talking about full replacements which in a million dollar home you are going to get raped by every contractor. Wake up. Sell your overpriced home that you cannot afford and buy a home you can afford. Think of it this way you bet on housing 2 times and nailed it through blind luck. If the market crashes like 2008 you will be looking at your new neighbors paying 2k a month for the same home that they bought for half the price and you will be kicking yourself for not bailing.

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    This year I saved $38K in retirement. I also am contributing $12-$15K for my kids' 529s.

    You make 120k - (38k + 12k + 48k(PITI)) = 98k

    Waitingtobuy says

    Your estimates for taxes are way off (SSI was way less last year based on me receiving partner payments as half my income).

    ok 9k SSI + 98k = 107k+
    lahossain says

    $2,400 Electricity/Gas/Utilities

    $1,200 Cable TV/Internet

    $1,200 Insurance

    $12,000 Food/Entertainment (family of 4)

    No taxes 107k + 16.8k = 123,800 HOLY F*** exactly what I said here
    lahossain says

    $123,800

    No federal or state taxes yeah right....
    Broke dick million dollar beach home owner!

  • On 10 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    My current place is almost 14 years old. By the 15 year average I detailed, I should be replacing the HVAC (may do so, but likely wont; figure $3K of repairs), renovate the baths (I have nice baths so no; just painting the cabinets for $1500 and a new shower door of $1K), reno the kitchen (no again; new appliances over 15 years should run me $4K, and painting the cabinets to cost me $1500). I painted the outside for $4K, will again in another 10 years). Maybe roof repair of $4K, but doubt I will need another entire roof. One more carpeting run in 7 years of $2500. Total with the $20K I dumped in at the start and last three years is $41.5K. Figure another $4K in misc and unseen expenses. Average of about $3K/yr over 15 years.

    Your million dollar home is starting to look like some dude making 120k/year owned it. You will have a dump in 15 years with your idiotic amounts that you think you need to spend.

  • On 10 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    You're pretty accurate with the 401k, although I have a PSP and I401K, not 401K. I own a business and can deduct a lot to minimize my YE taxes.

    As for college, no one saves more for college than retirement. $56K is more like $12K-$15K/year these days. I've been saving since 2001. You can always borrow for college, but not for retirement. Below is proof. Notice the name of the 529 plan is included in the image.

    $17,500 retirement
    $15,000 College
    $18,000 SSI/Medicare
    $48,000 Mortgage PITI
    $6,500 Federal income taxes
    $2,000 State taxes (assuming CA)
    $2,400 Electricity/Gas/Utilities
    $1,200 Cable TV/Internet
    $1,200 Insurance
    $12,000 Food/Entertainment (family of 4)

    $123,800

    I went completely light on all your expenses in your million dollar home. You are completely house poor. You have zero money at the end of the month and if your car breaks down you will have to do a heloc to buy a new one. /golfclap

    The funny shit is that you think you have made good choices.

  • On 8 Sep 2014 in The Best New or Current Band in America, yup1 said:

    APOCALYPSEFUCKisShostikovitch says

    BLUE OYSTER CULT!

    Fear the Umlaut!

    I thought for you it would be Rage Against the Machine.

  • On 8 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    I've been accused of a lot of things. Being bad with math is not one. I'm what you call a supersaver for retirement, plan to retire at 55, and have nearly both kids college expenses paid for in their 529 plans, and the first won't graduate high school for 7 yrs. All with a salary between me and my wife of $120K/yr. The only debt I have is my mortgage, and I will likely downsize to live overseas in my wife's home country.

    Sucks that you are good at math because so am I. You say you make 120k/year between you and your wife and you are a SUPERSAVER for retirement. Lets do some math.

    $17500 saved for both you and your wife in 401k accounts = $35000/year

    $14000 per child for both you and your wife into 529 plan = $56000/year

    $3077/month mortgage = $37000/year

    GRAND TOTAL BEFORE LIVING EXPENSES AND TAXES $128000

    So unless your salary is 120k for BOTH you and your wife, not between you and your wife I would say you are full of shit!

  • On 8 Sep 2014 in I demand a formal apology from TurtleDove, yup1 said:

    You demand a formal apology on Patnet....really? Go back to your hookers.

Home   Tips and Tricks   Questions or suggestions? Mail p@patrick.net   Thank you for your kind donations

Page took 116 milliseconds to create.