patrick.net

JH says

curious2 says

I really don't understand what you are trying to say with that comment?

From the article but not quoted in OP

Thanks, I appreciate the clarification, and I was already aware of those problems. What I didn't understand was the other part of your comment, which seemed a distraction.

Heraclitusstudent says

Sue them for breach of contract.

LOL - in California, the exchange website requires you to waive your right to sue. You can arbitrate, but the industry hires the arbitrator. And, have you actually read those insurance contracts? They run more than 100 pages, mostly loopholes for the insurer. Good luck with your suit.

Call it Crazy says

Why Are You Charging On Credit Cards Again?

If managed carefully, the rewards are great. Why pay cash when I can get 50k bonus miles for spending money I was already going to spend, cancel the card, and get a new one in 18 months. Cycle through the different cards (get the bonus, then cancel), and every penny I ever spend is earning me bonus rewards (i.e., beyond the standard 1% rewards).

curious2 says

What I didn't understand was the other part of your comment, which seemed a distraction.

hahaha, well, i'm sick of certain health care issues being blamed suddenly on aca, when in reality the problems are much deeper. I am for 100% socialist or 100% free market health care. We are in a slimy middle ground, and the aca only secured that position.

My second comment...well...it was a distraction...but not the first patnet distraction you've ever read i'm sure...yes, meaningless to an intelligent discussion of course...just frustration stemming from the first part of my comment.

JH says

i'm sick of certain health care issues being blamed suddenly

I feel your pain, but from the opposite direction: I'm sick of holier than thou Democrats saying "the real reason you disapprove of Obamneycare is because you're racist and Obama's black." Actually, most of the lobbyists who wrote it are white, and it was based on Romneycare, and Romney is also white, and touted relentlessly by Jonathan Gruber (also white) who took undisclosed payments from the White House in connection with his supposed expert testimony, and btw Obama's mother was also white, but somehow certain people insist it's all about there being a black President, as if Clintoncare didn't get the same reaction in 1994. Clinton was actually impeached in his first term, though for other reasons; nothing like that happened to Obama.

JH says

I am for 100% socialist or 100% free market health care. We are in a slimy middle ground, and the aca only secured that position.

Yes, what we have is called lemon socialism, privatizing gains while socializing losses, but anybody who dares say out loud the word "socialism" sets off an inflammatory reaction among partisan boosters of the legislation. To quote Yogi Berra (out of context), "When you come to a fork in the road, take it." We could have either a free market or a socialized system, but instead we have schizophrenic lemon socialism, because that maximizes power (including revenue) for the authors of the legislation.

Lots of people and corporations lease land but they are not abused by the Feds because even lessors have property rights.

Interesting in the recent past people who stole cattle were hanged. Today the Feds think they can steal cattle because they're from the government.

The photo montage above it great.

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

Say hey! This was in the Wall Street Journal on March 30, 1999. Note "... how much it will buy."

Holy cow/interesting/compelling ...!

And where is it up to date??? Right here ... see the first chart shown in this thread.
Recent Dow day is Monday, April 21, 2014 __ Level is 104.0

WOW! It is hideous that this is hidden! Is there any such "Homes, Inflation Adjusted"? Yes! This was in the New York Times on August 27, 2006:

And up to date (by me) is here:
http://patrick.net/?p=1219038&c=999083#comment-999083

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

And "ThePublic Be Suckered"
http://patrick.net/?p=1230886

JH says

You are welcome to purchase insurance with minimal or no deductibles. But you'll have to pay for it. It's called risk management.

Let 'em eat risk management cake.
"We have the functional products that you desperately need……you just can't afford it, sucker."

JH says

i'm sick of certain health care issues being blamed suddenly on aca

ACA was the chance to fix some of these "issues", the only one that has come along in my lifetime. There is a kind of nauseating disappointment at the simulacrum of reform that was fobbed off on us.
ACA is to Health Care Reform as TPP is to Free Trade. Codifying and enshrining corporate control and cartel profits.

JH says

thunderlips11 says

That's private insurance for you.

Gotta love those $5000 deductibles. They're laughing all the way to the bank, a big subsidy for minimal service.

You are welcome to purchase insurance with minimal or no deductibles. But you'll have to pay for it. It's called risk management.

Lolol.

Please explain to me how you have the nerve to refer to what some confuse as "private" "health" "insurance", as risk management.

Call it Crazy says

Something similar, if we have to make a large purchase, we'll cycle it through zero percent offers and use "other people's money" for the year while gaining the card points and bonus points...

The points are nice, it's been a while since I've actually had to pay for an airline ticket...

This is exactly the kind of mentality that allowed the housing bubble, and allows credit card companies to skim billions from the economy.

Call it Crazy says

Credit/debit cards will NEVER go away...

I'm not saying they will go away. I'm saying there is not enough competition to really bring down the cost to what it actually costs to manage plastic cards transactions.

Maybe if you can pay with your phone tomorrow we will see progress.

Do PCPs even "Coordinate Care" or make hospital Visits anymore? It sure seems the newly minted ones don't.

Get your ass in and out in less than 12 minutes, "You got a cough? Here's some antibiotics. Uh huh, yeah, right. Blood? Well, make another appointment if it continues. Uh-huh, Get the fuck out."

zzyzzx says

errc says

Why do you assume they are morons?

Because they are voluntarily paying extra on every purchase they make with their cards.

Not if they are taking the borrowed money, and investing it at greater returns.

errc says

zzyzzx says

errc says

Why do you assume they are morons?

Because they are voluntarily paying extra on every purchase they make with their cards.

Not if they are taking the borrowed money, and investing it at greater returns.

Lol, credit cards annual interest rates on average are double the stock market performance. That strategy is a sure path to eventual bankruptcy.

carrieon says

The American Healthcare system is a joke and sinking. If you have any regard for your health or finances, just avoid insurance and spend your hard-earned money on education about self-healthcare.

That only works if you can afford six or seven figures worth of care for a major injury or illness.

Obligatory Bundy family picture:

Here's a true scenario:
Joe has $5,000. He puts it in Bank.
Bank offers Joe a Bank credit card with a $5,000 credit limit.
Joe uses the Bank credit card, and gets charged 21% interest to use the money he put into Bank.
What Joe does from here determines if he is an idiot or not.

Tim,

Nice find. Since Feb 2009 till June 2013, I have helped my family, some siblings and pkennedy (a Patnet user that I connected with on this site) gaining over $3.5M in equity and cashflow. Wife and I tallied up this number a couple of nights ago so it's fresh off the mill.

Pkennedy has gained just shy of $400k in equity and cashflow since we teamed up in late 2011. We're currently controlling over $2M worth of real estate now with over $1M in equity. Patrick himself and several Patnet members have met and know my partner Pkennedy. They also exchanged emails off-line with my partner so they can confirm this without an issue. Unlike some bullshitters and trolls on here who do nothing but a disservice to the Patnet community.

If you post something positive, they say you're bragging. I guess they only like negative news around here. Well, Pkennedy and I are planning on cashing out in 2016. That should be some nice chunk of change. Bulls make money; bears make money; perma-bears don't make shit.

Quigley says

Here's a true scenario:

Joe has $5,000. He puts it in Bank.

Bank offers Joe a Bank credit card with a $5,000 credit limit.

Joe uses the Bank credit card, and gets charged 21% interest to use the money he put into Bank.

What Joe does from here determines if he is an idiot or not.

If Joe put his $5,000 in a 5 year CD we already know he is an idiot, unless he pays off the balance every month from his paycheck.

Call it Crazy says

dublin hillz says

errc says

zzyzzx says

errc says

Why do you assume they are morons?

Because they are voluntarily paying extra on every purchase they make with their cards.

Not if they are taking the borrowed money, and investing it at greater returns.

Lol, credit cards annual interest rates on average are double the stock market performance. That strategy is a sure path to eventual bankruptcy.

Even worse than double..

All those paying off their balances each month and enjoying the rewards must remember the rewards are really being paid by those paying high interest rates on their balances. No wonder banks have to charge such high interest rates.

curious2 says

I feel your pain, but from the opposite direction: I'm sick of

There is a lot of racism among Republicans. I have lived in more racist states than I do now and it is nauseating how much it permeates thinking among all socioeconomic classes. It sounds like you have other reasons to be against aca, as do I, so I respect that.

curious2 says

schizophrenic lemon socialism, because that maximizes power (including revenue) for the authors of the legislation

...sadly...

errc says

Please explain to me how you have the nerve to refer to what some confuse as "private" "health" "insurance", as risk management.

I assume you are being sarcastic? It's all about risk management. The insurance company takes on risk by covering you, and you take on risk by purchasing their insurance. If you choose low-cost, high-deductible coverage, you are taking on a greater risk. High-deductible insurance is not new. It's a choice you have.

Strategist says

All those paying off their balances each month and enjoying the rewards must remember the rewards are really being paid by those paying high interest rates on their balances. No wonder banks have to charge such high interest rates.

Hahahahaha, those who pay off their balances each month are takers. That's a new one. You don't think every penny of those retarded interest rates is going into the executives' pockets?

Heraclitusstudent says

Call it Crazy says

Something similar, if we have to make a large purchase, we'll cycle it through zero percent offers and use "other people's money" for the year while gaining the card points and bonus points...

The points are nice, it's been a while since I've actually had to pay for an airline ticket...

This is exactly the kind of mentality that allowed the housing bubble, and allows credit card companies to skim billions from the economy.

Hahahahaha, another funny statement. How is shuffling a balance (much less one's annual income) at 0% APR even close to comparable to taking out an adjustable rate loan (10 times one's annual income) at 3-5% APR?

Call it Crazy says

sbh says

They charge this much because they are so over regulated. They charge this much because they are under-regulated. She's my daughter. She's my sister.

Huh??? What???? Looks like you started drinking early today....

The conservatives never get the references to classics.

http://www.youtube.com/embed/HuAZGFYW6DE

JH says

Strategist says

All those paying off their balances each month and enjoying the rewards must remember the rewards are really being paid by those paying high interest rates on their balances. No wonder banks have to charge such high interest rates.

Hahahahaha, those who pay off their balances each month are takers. That's a new one. You don't think every penny of those retarded interest rates is going into the executives' pockets?

Not at all.
I have a $300 American Express rebate, and roughly $400 in a MasterCard.
I have never paid annual fees, and I always pay off my balances in full.
I'm constantly being hounded by the credit card companies to borrow.
How does the credit card bank make money from me? They must really hate people like me.

Strategist says

Not at all.

I have a $300 American Express rebate, and roughly $400 in a MasterCard.

I have never paid annual fees, and I always pay off my balances in full.

I'm constantly being hounded by the credit card companies to borrow.

How does the credit card bank make money from me? They must really hate people like me.

They get money from merchants that you buy goods/service from. The credit cards charge merchants a credit processing fee. The fee is usually between 1% to 5% of your charge amount. So the creditcard company is not losing money when giving you a rebate.

Quigley says

Here's a true scenario:

Joe has $5,000. He puts it in Bank.

Bank offers Joe a Bank credit card with a $5,000 credit limit.

Joe uses the Bank credit card, and gets charged 21% interest to use the money he put into Bank.

What Joe does from here determines if he is an idiot or not.

If Joe pays off the credit card bill before the end of the grace period during each billing, he is all right.

Reality says

The fee is usually between 1% to 5% of your charge amount. So the creditcard company is not losing money when giving you a rebate.

Base salaries and other overhead.

Call it Crazy says

The average credit card interest rate for people with fair credit has hit a shocking 21 percen

Executive bonuses!

CaptainShuddup says

I get them all the time.

I'll use one pay it off in 18 months, but by then another company sends me another 0percent offer, so I've never ever, had to actually use one after the 0% introductory teaser rate expires.

Doesn't that hurt your credit score changing credit cards all the time?

JH says

This is exactly the kind of mentality that allowed the housing bubble, and allows credit card companies to skim billions from the economy.

Hahahahaha, another funny statement. How is shuffling a balance (much less one's annual income) at 0% APR even close to comparable to taking out an adjustable rate loan (10 times one's annual income) at 3-5% APR?

Both encourage you to live on credit. At the individual level everyone thinks they're ok. The guy with adjustable rate mortgage thinks he will refinance when needed.
And maybe they are ok - most of the time.

At the aggregate level, this has disastrous effects on the stability of the economy, as the country borrows from the future.

You're just trained to think as a speculator.

lakermania says

Doesn't that hurt your credit score changing credit cards all the time?

Not if you have a really good credit score, and every card is courting you. When you don't have many options, that's when these card companies seem to screw people the most. People trying to build their finances, before they buy a house, and a more stable house. Are the very people who seem to be the most loyal to these banks. I don't know if it's really loyalty on those patrons part, who stick with them for year after years with higher interest rates, late fees, and dinging your credit score every time you break wind.

Or it's because the bank makes damn sure they don't have other options.

They really make it hard to ever get ahead in the first place. But it seems once you get past a certain credit threshold, all of those barriers seem to vanish. As long as you keep your credit current.

But then again, my wife likes to make charges on 0% interest cards, pay the very minimal for 16 to 17 months, then settle the whole balance before then. I guess the other card companies, and often the same bank with competing card offers, notice the pay off more than what's really going on with how we're using our card. So we'll get a hundred offers for 0% no fees and other perks.

I wouldn't even use credit cards, if there was a yearly fee, and we paid interest on cards, like it took to build credit to buy a house.

sbh says

We're all used to CIC having little to say besides rah, rah red team and HaHaHaHaHaHa. But it's truly disappointing when someone is unaware of Chinatown. Sigh.

He's not the same as you and me. He doesn't dig poetry. He's so unhip that when you say Dylan, he thinks you're talking about Dylan Thomas, whoever he was. The man ain't got no culture.

CaptainShuddup says

lakermania says

Doesn't that hurt your credit score changing credit cards all the time?

Not if you have a really good credit score, and every card is courting you. When you don't have many options,

Mine has only increased using the carousel of cards (for rewards, not to transfer balances, although only a large balance would negatively impact your score). I open 2-3 new cards per year for rewards. I close most but keep a few long term cards. Now my score is over 800. Of course, it helps that my only late payments ever were in college and are now long gone...

I charge everything-even fast food. But all my cards are mileage and I fly a bit for work too and charge expenses too. So my vacation flights are usually free!! I pay the balance off every month though.

Heraclitusstudent says

Both encourage you to live on credit.

I understand what you're saying. But if I have $20k cash for a car or $1k cash for a couch, and someone is offering me 0% APR for 2-5 years, then I'm going to take the 0% any day. However, a BMW is outside my price range, as is a $700k house. So I'm not going to massively go into debt to buy either that I don't belong in.

There is a systemic problem with credit in US, especially in cities like LA, sure. But if someone can learn to transfer balances and/or reap rewards without it costing a penny, then I see nothing wrong with that.

Call it Crazy says

don't have $1.50 cash in their pocket to pay for it.... They swipe it on plastic...

1.5 miles, baby!

JH says

Mine has only increased using the carousel of cards

That's what happened to me as well. I don't transfer balances from card to card, I just pay off one. Then take the 0% offer card when send it. We only have one or two cards with a balance at anytime. One from my cards, and one from hers.
My wife is a stay at home Mom, and actually built her credit up before I did. So she has her own cards she keeps a few dollars on, so they close them for no activity. She does that, because rules are weirder than when she first started getting her collection of cards. If she was to let them all Close due to inactivity, She would have a hell of time getting new cards.

In the last 4 or 5 years, all of the new card offers have been addressed to me. Last decade they were courting her. But that was when they recognized people who were good at paying their bills and keeping up with their finances, they didn't deny women credit for being a stay at home mom like they do now.

Call it Crazy says

Dan8267 says

He's not the same as you and me.

Thank god for that, otherwise I'd throw myself in front of a moving truck...

And he still thinks we're talking about Dylan Thomas. Yet another reference he missed.

CaptainShuddup says

So she has her own cards she keeps a few dollars on, so they close them for no activity.

Ah, yeah, I think that is starting to happen to us, also. Assholes! They are phishing for people who they can collect 21% on. We have tried to keep our oldest cards open for the longevity thing but I think some have been closed randomly over the past few years.

CaptainShuddup says

My wife is a stay at home Mom

Mine is PT mom, PT work, but I think we always apply by reporting our household income...is that possible? I think so. She is less excited about the carousel, though, so we fight about whose card gets the purchases any given month. (She does the shopping so I have to convince her to use my cards haha.)