patrick.net

I thought you said you had no idea what those cases were.

Freaky said:

"the economy" = "the stock market" + "the housing market", the "economy" would probably tank if the QE stopped. Our economy is "asset based," or so they say. It's not based on the creation of actual goods and services"

Then a bunch of humanity majors buying stuff made in China is a Ponzi Scheme?

AverageBear says

The quote you took from me, was refuting the absurd notion that WMT is going down the shitter. It obviously isn't. Sooooo, to compare WMT's 'value' to Costco's value does what exactly?

Right, I neglected to mention why I compared COSTO to WMT, and not Target or other big box stores. It's because COSTCO pays well above the minimum wage and provides excellent benefits relative to the industry, making it generally one of the best employers for unskilled workers.

Thanks for the dividend comparison article. Pretty good points about the catch up problem. Since I'm a stock price guy, my focus was that WMT, adjusted for inflation, really hasn't moved in more than a decade, even using CPI which I consider to be overweight electronics and underweight (or absent) the main middle class expenses of medical and education. Of course, this fails to take into account a longer history of dividends at a higher rate.

Old Peter Lynch mentioned that he often chose companies based on the observations of his wife and her friends. One major reason I am bearish on WMT is because many people I meet loathe the messy chaos that is Walmart, and prefer Target and other shops, even if it means driving more or spending a few bucks more. I really do think WMT is the retailer of last resort for many folks, and given competition WMT will suffer unless they change their ways.

Brief aside, a store I never understood floundering was Sears Essentials. I found their stores bright, clean, with name-brand products like Kenmore and Craftsman Tools, and their prices were good (not spectacular) and the staff helpful and plentiful (try tracking down a Walmart Associate). Yet always empty, go figure. They didn't seem to market much beyond a weekly flier in the newspaper, though.

I wonder if employee turnover and squeezing is a decent Long Term strategy. Walton himself had no problem paying and keeping employees over the long haul, it was the "Professional Management" that took over after his death that began the labor squeezing. If memory serves, I remember that many long-term employees were fired in the mid 90s as a cost-cutting measure and replaced with people making half as much. I also recall the Home Depot CEO trying to win customers back after a round of severe employee squeezing that left stores with a skeleton crew that was overwhelmed by demand. And of course, Circuit City, which was managed by Moron Bean Counters:

"Hey Boss, let's fire all the best performing sales people to save a few bucks this quarter and pay ourselves bigger bonuses."
"Herpa Derp, sounds like a thinking outside the box strategy! They're only HS graduates and College dropouts, easily replaced."
"Hey, all our best salespeople are now at Best Buy and Tiger Direct while our sales are plummeting! And, why can't we find any great salespeople?!"

FortWayne says

That watch is correct at least twice a day.

IT's got you beat.

egads101 says

Call it Crazy says

You still forgot to call him an idiot and a nitwit!!

It's ok, I have you to satisfy that basic need...

I'm gonna be honest here, Roberta:

That was funny.

DON'T SHOP AT WALLY WORLD!

egads101 says

with wage inflation too

Hahaha! Good one.

Entitlemented says

Then a bunch of humanity majors buying stuff made in China is a Ponzi Scheme?

I don't understand what you mean.

Bigsby says

so it matters not what you think.

except to you who continually cares what i think liar

Bigsby says

I thought you said you had no idea what those cases were.

Why would I, and why would I care?

The debt settlements are all the same, if that's what these lawsuits are for.

Maybe Bob can tell us.

David Losh says

Bigsby says

I thought you said you had no idea what those cases were.

Why would I, and why would I care?

The debt settlements are all the same, if that's what these lawsuits are for.

Maybe Bob can tell us.

Why would you know what cases were brought against you? Why would you care? Really?

Iwag says

Bigsby says

so it matters not what you think.

except to you who continually cares what i think liar

As you are so honest, how old were you when you 'bought' the Victorian?

Bigsby says

Why would you know what cases were brought against you? Why would you care? Really?

Yes, really, why would I care?

What's so hard to figure out?

One of the great things about the United States, I've heard you're not from here, is the rule of bankruptcy.

While many, many of my counter parts bankrupted LLCs we chose to pay our debts, even to the banksters.

Everybody is getting paid, but in Bob's mind we maybe should have had those LLCs, bankrupted them, and moved on.

So what's the problem here? We pay, and we're wrong, people who don't pay are smarter than me. Hmmm...

thomaswong.1986 says

kashif313 says

If I buy a house in SoCal: $500,000 with 20% down, 30 year mortgage,

why pay $500K if you can buy cheaper $250-300K and bank the savings.

Why pay $250k if you could pay $100k? Maybe you can get the seller to give you money in addition to the house.

David Losh says

Bigsby says

Why would you know what cases were brought against you? Why would you care? Really?

Yes, really, why would I care?

What's so hard to figure out?

One of the great things about the United States, I've heard you're not from here, is the rule of bankruptcy.

While many, many of my counter parts bankrupted LLCs we chose to pay our debts, even to the banksters.

Everybody is getting paid, but in Bob's mind we maybe should have had those LLCs, bankrupted them, and moved on.

So what's the problem here? We pay, and we're wrong, people who don't pay are smarter than me. Hmmm...

There is no problem, but you did say you didn't know what Rob was talking about, which would appear not to be the case.

>>>I think 5 years from now, a hell of a lot of people are going to have seen enough rent increase, that they are going to look back at the mortgages they could have locked in for life today, last year, the year before, and seriously wonder what the hell was wrong with their thinking, and why they ever listed to the permabear idiots on this site.

This is not true. My rents have not changed over the last 4 years. What makes you believe that they will over the next 5 years? Also if my rent is 30% cheaper than a comparable mortgage, why would I buy? In fact, my rent was cheaper than a comparable mortgage even when the market crashed. I save more by renting - why is that a problem with anyone.

If you choose to pursue a different strategy than me and make more money while doing so, good for you. My piece of mind lies in renting. I may buy when my price range is met based on my calculations. You may not agree with my criteria - that's fine. I dont agree with your analysis..you go your way I'll go mine...nothing wrong with that.

Bigsby says

There is no problem, but you did say you didn't know what Rob was talking about, which would appear not to be the case.

I don't know what he's talking about, or if it's true.

Why would I?

Just answer the question, why would I know or care about law suits filed against me?

Sorry, I've got to get back to work now, but this has certainly been entertaining.

David Losh says

Bigsby says

There is no problem, but you did say you didn't know what Rob was talking about, which would appear not to be the case.

I don't know what he's talking about, or if it's true.

Why would I?

Just answer the question, why would I know or care about law suits filed against me?

Sorry, I've got to get back to work now, but this has certainly been entertaining.

Why would you know or care about lawsuits filed against you? Errmm...

Iwag, an honest question. If you own a house in SF, and believe that house prices will crater, then why not sell and rebuy after the cratering? You could make a pile of dough.

There's several people on patrick.net predicting housing price crashes, yet they still own their overpriced piles of rotting wood and rusting nails. I don't get it, it's inconsistent.

I could imagine that these people think that it's too much trouble, and like their houses. But if so, this feeling will be common among many homeowners who might logically sell but practically won't; thereby limiting supply and preventing the cratering.

kashif313 says

1) He says interest rate increases do not matter to the price of a home

He said that they don't necessarily equate to lower prices. There are other factors such as wage inflation and price inflation that influence prices too.

kashif313 says

2) Higher prices equate to higher property taxes.

True.

kashif313 says

3)The economy in California is not fully recovered. If high wage earners are unemployed, who buys homes?

I don't think the majority of unemployed people are high income earners. People that earn a lot of money have specialized skills that are harder to find. Nonetheless, people with large inheritances can continue to buy homes, or people with parents that give them a large down payment.

If interest rates rise a couple more points (without any significant inflation), I could see prices stalling out or taking a step back. I wonder if that would spook owners into listing their properties to sell for fear the market is not going to continue up? That behavior happens in stocks all the time. Only time will tell.

SiO2 says

Iwag, an honest question. If you own a house in SF, and believe that house prices will crater, then why not sell and rebuy after the cratering? You could make a pile of dough.

where would i live?

kashif313 says

His predictions do not hold any validity both from an economical and mathematical sense.

he claims prices are going to go much higher next year yet people wont list their homes

what a dumb ass, this thread is going to be funny next year when i expose this realtor liar

this asshole also claims he's a guru but he is one of the most ignored people on this website along with tatupupu, his alt account, and every comment he post has a dislike

talk about being a liar

yeah a well liked guru! hahahaha

kashif313 says

Time will tell which way housing goes- yes it will and either way I will be here making my rent payments on time living debt free.

It sounds like you're doing nicely, and happiness is the key.

Owning a home IMO is more of an emotional investment for people (outside of flipping and renting homes for a living). You pay a premium to have the control to rip out a wall or change the floors, etc. Renting for the most part is always going to be cheaper in desirable areas.

As for inheritances, I couldn't quantify it of course. I definitely see it in my circle though. A lot of people from all walks of life get major help from their parents, either living or deceased.

egads101 says

Gurus and geniuses are always treated well when they share their knowledge. Copernicus and Galileo come quickly to mind, they too were loved for their ideas! The oracle accepts the downsides that come with the gift of knowledge.

look at this asshole he's still going

dont you have any shame Roberto? you know embarrassing you are as a person? i literally cringe when i see you posting as 'the oracle'

you literally had to change your entire pat net identity because of badly you got destroyed for being a liar

We only get spending under control by having taxes close to what we spend.

The people who have the most influence on how the government spends money are the same ones who would pay much more if we actually pay for what we spend.

They would be more cautious about spending, especially on frivolous wars and corporate welfare, if we actually paid for close to what we spend.

The biggest myth is that spending beyond our means is the fault of liberals. Actually it's the fault of right wingers who are anything but conservative. They insist on not paying for what we spend. IF they (the elite) had to pay for what the government spends, they would figure out a way to spend less. That's the only way they ever will, because the deficit spending benefits them.

But, in the case of actual investments in things like infrastructure, education and productive jobs, deficit spending makes sense. Unfortunately, so much of our deficit spending goes towards the military industrial complex and wars and post war spending such as veteran death and disabilty benefits. (this is only the financial cost - we can't measure the actual value of lost lives).

How do we get a good return on investment for military spending ? It used be by "deterrence." Things have changed though. Justifying a military that large changed somewhere along the line. Eisenhower, a real conservative who believed in paying (and taxing) for what you spend, warned us about this.

Tim Aurora says

One thing bears do not understand is that in the long term the price of the house will never go below the cost of building a similar house.

And one thing that bulls do not understand is that the "cost of building a similar house" can also decrease.

Bigsby says

And I own a home in Monterey, not Monterrey.

mentioning a fake home multiple times, a sure sign that a liar is trying too hard to defend his lie

egads101 says

which is an utter lie, from a bitter little loser. the oracle cannot help you, but it seems karma is already paying you quite well for your deeds!

are you trying to lie again roberto that you switched your pat net name to this new 'oracle' character youre trying to lie to everyone with?

how do you explain callitcrazy exposing you for having the same ip? liar

Tim Aurora says

One thing bears do not understand is that in the long term the price of the house will never go below the cost of building a similar house.

Other assets have sold for under the cost of replacement for decades. Think of silver: 25 years.

Helium is another example.

kashif313 says

>>>I think 5 years from now, a hell of a lot of people are going to have seen enough rent increase, that they are going to look back at the mortgages they could have locked in for life today, last year, the year before, and seriously wonder what the hell was wrong with their thinking, and why they ever listed to the permabear idiots on this site.

I think you are right. Rental nation is gonna get squeezed.

Why don't the bulls and bears just "put their money where their mouths are" instead of personally attacking each other? Place your bets. Only time will tell who is right.

Iwag says

Bigsby says

And I own a home in Monterey, not Monterrey.

mentioning a fake home multiple times, a sure sign that a liar is trying too hard to defend his lie

Coming from the man who invented his Victorian SF purchase...

egads101 says

I think it is fairly obvious on here, that the bulls did put the money where their mouhs are, 2 to 3 years ago, and they've kicked the hell out of the bears's butts to date. Thus, the animosity (and tons of wishful thinking for the crash to restart) on the bear side.

lets see

roberto lives with room mates to pay his mortgage, minus 20 points
roberto has to keep a day job to pay for the debt on all of his shacks, minus 50 points
roberto has a shitty haircut, minus 5 points

yup, looks like roberto is down 75 points against the bears

Quigley says

What is causing our debt crisis?

There is no "debt crises".

It’s not even a picture of a crisis. The new CBO long-term budget projections are out, and while they’re not good, they don’t show crisis levels of debt even looking out a quarter-century.

The point is not that we should completely ignore issues of fiscal responsibility. It is that we are nowhere near fiscal crisis; we aren’t even looking at anything like a fiscal crisis 15 or 20 years from now. So budget deficits, entitlement reform, and all that simply don’t deserve to be policy priorities, let alone dominate the national discussion the way they did for the past few years.

Bigsby says

Coming from the man who invented his Victorian SF purchase...

unlike you i don't care if you attack my purchase, i'm sitting in my house right now laughing at your fake Monterey house, liar

anyone who has to lie about living in that area is obviously a loser

freak80 says

Why don't the bulls and bears just "put their money where their mouths are" instead of personally attacking each other? Place your bets. Only time will tell who is right.

i put my money by not buying over priced shacks in the desert

i bought in a prime area like s.f which has appreciated over 7 times my initial purchase price since 1991

Iwag says

Bigsby says

Coming from the man who invented his Victorian SF purchase...

unlike you i don't care if you attack my purchase, i'm sitting in my house right now laughing at your fake Monterey house, liar

anyone who has to lie about living in that area is obviously a loser

Except I'm not lying. I leave that entirely to you.

Iwag says

i bought in a prime area like s.f which has appreciated over 7 times my initial purchase price since 1991

That's great. So why the bitter and angry tone? Why do you care about other peoples' investments?

Iwag says

i bought in a prime area like s.f which has appreciated over 7 times my initial purchase price since 1991

You bought when you were 21. How'd you pull that off? Help from your parents? Inheritance?

For someone who started out so promising, it is sad to see you reduced to this forum and this thread. Why not be more like the person you mock and give us the address of your wonderful home? We can easily find out if you are telling the truth. You are telling the truth, right?