patrick.net

When they can't sell those trash mortgages, which is starting to happen. Of course, Freddie claimed they'll by crap until September, but Bernanke is trying to imply that Fred and Fran will by nothing BUT crap in the future.

Oiy.

"506 sq ft 53-year old cottage for $999,000 with Los Altos schools (2665 MILLER AV, MTN VIEW). "

This has to be a joke, right? Even has a '60's Earl Sheib painted nerdmobile parked in the driveway.

Really pissed me off. When will this crap end?

When the last toxic loan peddler files for Chapter 11. Which should not be too long from now:

http://ml-implode.com/

Peter P Says:
There should be no price control on taxi services. Drivers should be able to charge whatever he feels like so long as the fee schedule is known before the trip.

Yeah, that's right, same for bus trips, too. The govt bus driver should be able to haggle with every passenger for every fare as they get on, then see if people change their minds and walk. Particularly with pensioners. That would be an efficient process at every bus stop...

The grey market London cab drivers do just that, in fact -- they offer you a fixed price to get to somewhere, which you can of course accept or decline. Of course, you're getting into an unknown, unlicensed guy's car who might sexually assault you if it's night time...

I agree with trader, salute to Patrick and Ben's moral courage.

As for seeing the bubble, as someone who witnessed the housing bubble unfold in Japan and Hong Kong, I called the top earlier than most people since I was being over-cautious. Although I was very sure that this bubble would end ugly, and it would have horrifying ramifications on social and financial fronts impacting us all, I didn't have the courage to say it publicly, or even among so-so friends. I don't want to be seen as a social outcast, so even when I hear about downright stupid housing investment decisions at a party or over a dinner exchange, I just smiled and said, well done.

Seeing the bubble and sticking to one's position is not hard, a lot of smart guys do that. But seeing the bubble and doing something about it, even though the action looked odd and goofy at that moment, such are the extraordinary quality that Patrick and Ben have that some of us lack.

Also, thanks to whoever that makes blog possible. If there were no blogs, the bubble could have gone on even further because ordinary people would have no venue for voicing their opinions loud and clear to audience far and near that care to listen.

Further, there should be no consumer protections or consumer certainty in society. That's just boring. People don't want certainty and predictability, or safe neighbourhoods, they prefer to live by their wits and try to avoid getting ripped off or robbed 100 times a day to add a frisson...

uglily?

ille_vir,

what you said about drivers in Japan is actually common throughout Asia, particularly in China. I think it is a cultural thing. I had a chauffeur in China when I was there on assignment. I always reminded my chauffeur to keep a distance from the pedestrians, but he laughed at my naivety. If I had my way, I would have never been able to drive across a crossing. He was right.

People don't watch traffic lights in China, so if you are polite and let the pedestrians cross, you will be stuck forever, literally. So my chauffeur's (and obviously all drivers') strategy was to appear very aggressive towards to pedestrians, threatening to run them over so that they would stop blocking the car. Of course sometimes you do run the risk of running someone over, so the driver has to be extremely skilled to be able to stop 2cm before actually hitting the person.

I strongly advise against any tourist trying to rent a car and drive around in China, Japan or Korea. First, you can't possibly negotiate the narrow streets, second, you will get stuck at crossings forever.

It's great to watch Robert Kiyosaki learn about finances and economics *after* he started publishing his get rich books, much as anyone else would by careful reading and thought... the retrospective voice of wisdom... John T. Reed points out that RK's probably only worth 2-3 million based almost solely on sales of his books since the 90s -- a completely fabricated "success" story...

OO,

That reminds me of driving in Sicilly. Everyone drives like a maniac in these tiny Fiats and if you make eye contact, the other guy will pull in front of you. Beep your horn and you can drive on the sidewalk. After a few months of Itilian style driving, we wold head back to England and be the jerks until we settled back into the most polite British road manners.

I strongly advise against any tourist trying to rent a car and drive around in China, Japan or Korea.

But Japan is not China. Japanese drivers do seem to be as courteous as me. I dare not cross any road in China.

Don't Chinese pedestrians just 'ignore' vehicles as a cultural habit and stagger onto the road expecting traffic to stop for them? Face-saving and all that, you know... One woman got run down recently because of it -- not even looking for traffic before crossing...

My sis when living in HK found that drivers just ignored road rules like roundabout right of way etc -- which then translates into terrible driving when they go to Western countries...

Luckily there aren't many roundabouts here.

Are roundabouts the same as totaries?

Peter P Says:
Luckily there aren’t many roundabouts here.

heh, yes, at least they've mastered going in a straight, uninterrupted line...

rotaries....

Are roundabouts the same as rotaries?

Yes. But of course, they "rotate" the other way over there. :)

I think they can be used to replace semi-busy multi-lane 4-way stops though.

Are roundabouts the same as rotaries?

Probably...

Roundabouts are often used on busy-ish single lane roads also, where right of way issues or hegemony of certain routes can be reduced, i.e. everyone gets a turn. Multi-lane roundabouts become a bit of a nightmare sometimes due to driver misunderstandings of which lane they should occupy to go left or right, when they can cut over, etc...

Score is over-rated. Again, why do Asian parents want to ensure that their kids become the perfect employees?

Multi-lane roundabouts become a bit of a nightmare sometimes due to driver misunderstandings of which lane they should occupy to go left or right, when they can cut over, etc…

I am under the impression that a single-lane roundabout has as much throughput as a two-lane 4-way stop.

Peter P said :
Score is over-rated. Again, why do Asian parents want to ensure that their kids become the perfect employees?

Because they don't believe SS is going to be around and need a different financial net?

Dont forget ARMs have yet to rest.

LOL!

PAR Says:
So let me get this straight. The government can create a licensing service that will guarantee that licensed drivers won’t assault you?

No, of course not. There are a few more checks on licensed drivers in advance, they should have an ID on display, and it might be easier to catch them after the fact by investigating records. Now of course they are fitting tiny cams in cabs and even huge wrap around perspex screens to protect the driver (and possibly the passengers)... A cab driver was found guilty of a similar murder here recently also, but they are all licensed...

Because they don’t believe SS is going to be around and need a different financial net?

Especially because of that their kids need to do something drastically different from their peers. Getting into the right schools will no longer guarantee a good life.

There is no financial net whatsoever any more.

I am under the impression that a single-lane roundabout has as much throughput as a two-lane 4-way stop.

yes, it's probably much more efficient, as less waiting and more 'pipelining' of cars... and reduced likelihood of accidents and misunderstandings... but doesn't the american system of uncontrolled intersections have a 'first arrived, first to enter' rule? here, you have to always give way to the right at a 4-way stop...

I don't pretend to actually understand the advantages of a roundabout/rotary. We have a good number of them in Boston near where I grew up. There was always a lot of traffic backed up at the busy ones during rush hour, though not noticeably more than normal traffic lighted intersections.

It was a lot of fun to go in full speed, swerve a little, then hit the gas and shoot out the other side, when traffic's light, of course. It's even more fun to do that with out-of-towners sitting next to you.

I don’t pretend to actually understand the advantages of a roundabout/rotary.

You know, I do like to pretend. ;)

Even the mention of a small change from the current system in San Francisco where wealthy “medallion owners” pay off the politicians to keep the number of cabs and medallions low and profits high get’s (Comrade) Different Sean to say:

> Further, there should be no consumer protections
> or consumer certainty in society.

It scares me that people like Different Sean think things would be better with more government regulation. Since the politicians are getting so much from the medallion holders I’m surprised that they don’t pass a law making all the cab companies drive Fords so they can extort money from Ford…

Leaving aside the fact that there are people going round and round for ever in certain busy roundabouts not knowing how to get out, you are correct.

See, it gives you the option to go around indefinitely while you decide which restaurant to go to. :)

Especially because of that their kids need to do something drastically different from their peers. Getting into the right schools will no longer guarantee a good life.

But not getting into the right school might spell certain doom.

This is a situation where the negatives risks are enormous. Remember: in the future in America, there will only be Director-level and above employees, and Big Box Store employees to service them.

It is easy, the inner circle gets right-of-way. There are quite a few roundabouts at UC Davis for bikes. And with bikes, everything is multi-lane.

But not getting into the right school might spell certain doom.

I think getting a degree might spell certain doom.

The percentage of degree-holders among the richest people is not too encouraging for college students.

PAR, have you tried this one for Bay Area listings?

I get all my listings from www.burbed.com :)

Remember: in the future in America, there will only be Director-level and above employees, and Big Box Store employees to service them.

Exactly! Either you drop out and start a multi-billion company or you get a job at a big box store. Neither job requires a degree.

If you have a degree, you will be pigeon-holed into the middle class, the "surplus" class.

Leaving aside the fact that there are people going round and round for ever in certain busy roundabouts not knowing how to get out, you are correct.

See, it gives you the option to go around indefinitely while you decide which restaurant to go to.

I've done a couple of 360s while getting my bearings over time... altho it gives you an option to do a U-turn as well, which an ordinary intersection normally won't do...

sounds like the old Warner Bros cartoon with the guy stuck indefinitely on the freeways...

I’ve done a couple of 360s while getting my bearings over time… altho it gives you an option to do a U-turn as well, which an ordinary intersection normally won’t do…

We do U-turns in america all the time. :)

I have also made U-turns using freeway cloverleafs.

NV,

Those are some butt ugly numbers my friend! Love the Zip Code breakdown. Betcha' Marshall Prentice and John Karavol never thought they'd be pumping out those kind of stats! :)

506 sq ft 53-year old cottage for $999,000 with Los Altos schools (2665 MILLER AV, MTN VIEW).

Sale History
03/15/2006: $885,000
05/07/1999: $475,000

Now that's chutzpah.

You can also be stuck in a set of freeway cloverleafs indefinitely.