patrick.net

Free Market “fails” because we fail it by installing moral hazards.

You might as well say that it fails because we live in the real world. I mean, has there ever been a free market in the sense that you mean it? It's a bit like saying "let's fight crime not by incarcerating criminals, but by allowing individual self-defense and waiting for everyone to become 'enlightened'"

by allowing individual self-defense

I don't know. Places with high crime rates tend to have a "special" interpretation of the 2nd Amendment.

O.k?

"Indiana Jones and the Temple of... Stuff"

"National Embarrassment"

"Indiana Jones and the Last MEW-sade"

?

DinOR, what did you eat for lunch? You are super funny today. :)

Well that may be changing depending on the holding in the DC v. Heller case.....

Hey my brother actually paid cash for his Fatboy Harley. He's a naer-do-well pauper by choice (career in print journalism) who got his part of my dad's estate and has been going around blowing it on toys. Since he's 60 years old and has no other financial reserves, I view this as the height of irresponsibility.

He told me he bought a new Fatboy off the dealer's floor since it was an "investment, that never goes down in value". Since when does Lawrence Yun work for HD?

So a Fatboy is the wheeled equivalent of pergraniteel?

Maybe DinOR is exhibiting an MSG reaction.

DennisN,

I would have had more respect for your brother had he taken out a car loan on his Harley.

sorry, I am having MSG reaction, motorcycle loan.

Well, DC v. Heller is going to be the one of the most interesting cases this year.

Actually at $20K+, a Fatboy requires a "car-sized" loan.

The oral arguments in Heller are scheduled for 10 AM on March 18th, and the USSC has announced they'll post the audio later in the day. See www.supremecourtus.gov/oral_arguments/availabilityoforalargumenttranscripts.pdf for how to access audio and transcripts.

I was surprised (but not shocked) that the NRA was against the suit initially.

Actually, shouldn't it be "Indiana Jones and the Raiders of the Lost ARM"? ;)

The NRA has always been scared of a direct USSC holding on the 2nd Amd., since it's possible that the USSC will get it wrong.

But Heller is the perfect case. No 14th Amd. "incorporation" issues to cloud it. Does anyone know what Mr. Heller's day job is? He's the perfect person to bring suit.

DennisN,

Actually I think Yun stole that from Harley! I'm really looking forward to those falling into to disrepair as the 70's Revisited marches on. Unfortunately this summer will probably be the zenith where MEW, debt and the ability to still ride, intersect.

I'm willing to bet Summer '09 is a lot quieter. On the lake too.

"Raiders of the Lost ARM" LOL!

Perfect.

How about this? Warren Buffett beat out Bill Gates!

www.msnbc.msn.com/id/23485427/

There is a house on my parents street with TWIN H2's. I hope they work locally. 10 mpg is killer.

And the home is all remodeled in and out - they used that fake stone siding (colored molded cement) that is glued to the stucco in little stacks which falls off after a few years because they use no mortar in the joints. I now hate this look after EVERY SINGLE strip mall remodeled with it during the horrifying bubble years. The skateboard kids can kick it off easily, not gonna last long in Los Angeles.

I think I prefer natural wood siding like classic tahoe 70's cabins. nice.

To be honest, none of them is as rich as Buffet if all of them try to unload their shares within a short period of time.

Buffet's portfolio is far more diversified, and therefore much more liquid. He can unload and cash in with so much more ease than those whose entire fortune is based on one single stock. What do you think MSFT stock price will be if news leaks out that Gates is going to sell 1/3 of his remaining stake? It doesn't even take Gates' 1/3 stake to rock the stock market, just try Ballmer selling half of his remaining stake.

In that sense, Buffet is by far the richest person on earth.

I've heard it said that being cheap is the new black.

I'm setting up an informal grocery buying co-op with my neighbors since there's still savings to be had. The local Cash and Carry store (same as Smart and Final in CA) had really nice medium size onions in the 50 lb sack for $3.95. I split one with my neighbors. They also had real sesame oil (not sesame-flavored oil) in a gallon jug for $14.19. I cleaned out some wine bottles and shared this out too. Generally tiny bottles of sesame oil go for around $5 in grocery stores.

How about this? Warren Buffett beat out Bill Gates!

Sure, I love Warren Buffett.

In that sense, Buffet is by far the richest person on earth.

Not necessarily. A few businessmen in Russia or Mid-east are potentially richer.

And they are probably extremely liquid.

We live in the age of A380 private jets and 500-foot yachts.

I much rather have $30 Billion worth of natural resources (e.g. oil) than $60 Billion worth of stocks.

Yeah, but these businessmen in Russia and Middle East may be taken out by their rivals any time before they reach 50.

I once saw an interview featuring the most powerful Russian businessmen at a party. One year later, half of the attendants got murdered. In the same interview, one of the top criteria for an uberrich Russian guy in selecting his new home in London (not Moscow, but London) is, it has to be out of the range from nearby snipers. He needs to access his home without being in the shooting range.

Warren Buffett is one of the most respectable person alive. I am even willing to take him at face value. I don't even take myself at face value.

In that sense, Buffet is by far the richest person on earth.

You forgot a few folks. Fidel Castro owns a whole island nation and everyone on it. Although some in the Middle East have ordered pimped up A380s, Castro has a fleet of MiGs, TV and radio stations, ships, etc. All are at his disposal for life. Kim Jong-il is another that owns more than Buffet.

Kim Jong-il is another that owns more than Buffet.

The Queen is even richer. She owns UK and all the inflated homes. :)

God save the Queen.

Are there any fantastic, unique Californian food that can blow visitors away without being too damaging on the wallet? Anything below $100 pp would be good.

Okay this is kind of late, but you really should take them to Chez Panisse in Berkeley. Quite a drive from South Bay, but well worth it and uniquely Californian.