[Rhodes22-list] Political - big Al delete - Brads economicquestion - However Big Al have considered that you opinionsmight be necessary to keep the young'uns in reality?

Fri May 2 21:57:51 EDT 2008

I am 65+, and have mostly GE and EXXON and no debt.
Like any good communist, I wanted to own the means 
of production, at least what's left of it.  That's 
my investment strategy.  It seems to work.

/Robert
---------------------------------------------------
Steven Alm wrote:
> 
> OK all you financial experts, how about a little advice?  What are you
> investing in?
> 
> Since I'm self-employed I can buy anything I want rather than the
> limitations placed upon most employees' 401k plans.  I've been funding my
> SEP (self-employed) IRA for about twenty years and I started a ROTH about 15
> years ago.  I have about 80% in mutual funds from Vanguard and about 20% in
> money markets from Oakmark.  I also have a little in an ING annuity that's
> turned out to be a real dog--I'm very sorry I got talked into that one.  I
> like products that I can have for a long run so I don't have to fiddle with
> frequent rollovers.  I'm no day-trader.
> 
> I think I'm doing OK but every April 15th I dump as much as I can into these
> accounts leaving myself with a frighteningly low pad.  Basically I spend all
> my savings on that illustrious day.  Then the next couple months are sort of
> nail biters while I rebuild.   In case of emergency I have plenty of credit
> including home equity but of course that costs interest.  I have no debt
> except my mortgage.  I'm 51.
> 
> So what are y'all buying these days?
> 
> Slim
> 
> On Fri, May 2, 2008 at 9:27 AM, Herb Parsons <hparsons at parsonsys.com> wrote:
> 
> > Most people have very little understanding of economics even at a basic
> > level.
> > At my office, the owner of the company matches contributions to a 401k
> > program up to 3% of an employees earnings. A grand total of 2 people are
> > taking him up on it. That $20 into $40 that Brad was talking about....
> > right there. If your you're "long term", you'll need the money later. If
> > you're "short term", you can just take it all back when you quit, pay
> > your 15% penalty for early withdrawal, and you're still way ahead.
> >
> > When I worked for him at his previous company, he had the same program,
> > but we had better participation. I'll never forget one day when the
> > market went WAY down. Two or three of the folks were complaining about
> > how much money the "lost" because of it. I pretended to take them
> > literally and said "you mean you SOLD when the market went down? You're
> > not supposed to sell low, you're supposed to BUY low". Then I'd explain
> > to them (this time without the sarcasm) that when the market dips like
> > that, it means that the money you're putting into your 401k is buying
> > more stock. You haven't "lost" anything, unless you sell while it's
> > down, but that long term, you are coming out ahead, unless the
> > investments you chose disappear completely. A well rounded 401k doesn't
> > get hurt by short term market fluctuations.
> >
> > Rik Sandberg wrote:
> > > Brad,
> > >
> > > Yeah, we used to try to help some of our employees understand where they
> > > were going wrong with their personal finances. Start talking about
> > > compound interest and watch their eyes glaze over. As concepts go,
> > > supply and demand is an even tougher one to get across. They'll bitch
> > > about the price of gas, but if they sell their house for twice what they
> > > paid for it, they have no problem with that. It's just amazing.
> > >
> > > Rik
> > >
> > > "There's a reason why bankers drive Cadillacs and the rest of us drive
> > Chevies. Bankers collect interest,... The rest of us pay it" .... Rik
> > Sandberg
> > >
> > >
> > >
> > > Brad Haslett wrote:
> > >
> > >> Hank & Rik,
> > >>
> > >> Every time I go to work I have a good laugh driving by the hub workers
> > >> parking lot on the way to the pilot's lot.  The hub workersry lot is
> > filled
> > >> with brand new iron.  The pilot lot looks like a salvage yard and you
> > wonder
> > >> how some of those beasts made the journey. My youngest son just left
> > for a
> > >> five month cruise on his USCG cutter and we had a long talk about what
> > a
> > >> wonderful opportunity this was for him to save money.  Yeah Right!  I
> > may as
> > >> well have been explaining the time value of money to the remaining
> > squirrels
> > >> in my backyard.
> > >>
> > >> Brad
> > >>
> > >> On Fri, May 2, 2008 at 8:56 AM, Rik Sandberg <sanderico1 at gmail.com>
> > wrote:
> > >>
> > >>
> > >>
> > >>> Ahhh .... to be young and bulletproof again, eh.
> > >>>
> > >>> But hey, they're having fun, that's the important thing .... right?
> > >>> Somebody'll take care of 'em if they fall on their face. Someone
> > always
> > >>> has, why would they stop now?
> > >>>
> > >>> Rik
> > >>>
> > >>> "There's a reason why bankers drive Cadillacs and the rest of us drive
> > >>> Chevies. Bankers collect interest,... The rest of us pay it" .... Rik
> > >>> Sandberg
> > >>>
> > >>>
> > >>>
> > >>> Hank wrote:
> > >>>
> > >>>
> > >>>> Rik,
> > >>>>
> > >>>> What gets me is the kids (20 somethings) working for me that are
> > driving
> > >>>>
> > >>>>
> > >>> 40K
> > >>>
> > >>>
> > >>>> beemers, lexus, etc.  They don't put a dime away, rent an apartment
> > and
> > >>>> waste all their money on fancy cars.  You can talk to them until you
> > are
> > >>>> blue in the face and you won't get anywhere.
> > >>>>
> > >>>> Hank
> > >>>>
> > >>>>
> > >>>> On 5/2/08, Rik Sandberg <sanderico1 at gmail.com> wrote:
> > >>>>
> > >>>>
> > >>>>
> > >>>>> Hank,
> > >>>>>
> > >>>>> Yeah I hear that.
> > >>>>>
> > >>>>> I am just flabbergasted these days talking to people about their
> > credit
> > >>>>> habits. How many do you know who would buy that pair of shoes on
> > their
> > >>>>> credit card, then, make the minimum monthly payment?
> > >>>>>
> > >>>>> Rik
> > >>>>>
> > >>>>> "There's a reason why bankers drive Cadillacs and the rest of us
> > drive
> > >>>>> Chevies. Bankers collect interest,... The rest of us pay it" ....
> > Rik
> > >>>>> Sandberg
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>> Hank wrote:
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>> RIk,
> > >>>>>>
> > >>>>>> I recently bought the most expensive pair of shoes I've ever
> > >>>>>>
> > >>>>>>
> > >>>>>>
> > >>>>> bought.  $130
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>> for a pair of Johnston and Murphy leather dress slip-ons.  I almost
> > >>>>>>
> > >>>>>>
> > >>> had
> > >>>
> > >>>
> > >>>>> a
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>> heart attack when they were rung up.
> > >>>>>>
> > >>>>>> Hank
> > >>>>>>
> > >>>>>>
> > >>>>>> On 5/2/08, Rik Sandberg <sanderico1 at gmail.com> wrote:
> > >>>>>>
> > >>>>>>
> > >>>>>>
> > >>>>>>
> > >>>>>>> Hank,
> > >>>>>>>
> > >>>>>>> Admittedly interest rates are a bit slim these days.
> > >>>>>>>
> > >>>>>>> But, the way most people seem to think these days, if they found
> > 20
> > >>>>>>>
> > >>>>>>>
> > >>> on
> > >>>
> > >>>
> > >>>>>>> the street, they would only have to borrow another 100 to buy that
> > >>>>>>>
> > >>>>>>>
> > >>> cool
> > >>>
> > >>>
> > >>>>>>> new pair of shoes.
> > >>>>>>>
> > >>>>>>> Rik
> > >>>>>>>
> > >>>>>>> "There's a reason why bankers drive Cadillacs and the rest of us
> > >>>>>>>
> > >>>>>>>
> > >>> drive
> > >>>
> > >>>
> > >>>>>>> Chevies. Bankers collect interest,... The rest of us pay it" ....
> > Rik
> > >>>>>>> Sandberg
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>> Hank wrote:
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>> Pretty soon it would be $40?  What bank do you use?  I want that
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>> interest
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>> rate!!!
> > >>>>>>>>
> > >>>>>>>> Hank
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>> On 5/2/08, Rik Sandberg <sanderico1 at gmail.com> wrote:
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>> Ed & Brad,
> > >>>>>>>>>
> > >>>>>>>>> Ha ha ..... yeah and if you found that twenty dollar bill and
> > said
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>> hmmm,
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>>> a windfall and put it in the bank, pretty soon it would be forty
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>> dollars.
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>>> This (saving) is apparently another foreign concept anymore.
> > >>>>>>>>>
> > >>>>>>>>> I wunder sumtimes if koledge isn't over-rated.
> > >>>>>>>>>
> > >>>>>>>>> Rik
> > >>>>>>>>>
> > >>>>>>>>> "There's a reason why bankers drive Cadillacs and the rest of us
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>> drive
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>>>> Chevies. Bankers collect interest,... The rest of us pay it"
> > ....
> > >>>>>>>>>
> > >>>>>>>>>
> > >>> Rik
> > >>>
> > >>>
> > >>>>>>>>> Sandberg
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>> Brad Haslett wrote:
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> Ed,
> > >>>>>>>>>>
> > >>>>>>>>>> Good article.  I've watched a number of smart accounting
> > students
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>> and
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>>>> MBA
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> candidates struggle with the concept of "sunk costs" because
> > they
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>> couldn't
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> remove emotions from the decision making process.  One
> > professor
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>> used
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>>>> the
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> example of finding a twenty-dollar bill on the sidewalk.  Is
> > its
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>> value
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>>>> zero
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> because it was free or is it worth $20?  If you paid $20 for a
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>> share
> > >>>
> > >>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>> of
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>>> a
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> company that failed and went out of business, is your share
> > worth
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>> $20
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>> or
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>>> is
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> it worthless?
> > >>>>>>>>>>
> > >>>>>>>>>> You'd think that the fear mongers of global warming would be
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>> ecstatic
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>>>> about
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> $4 a gallon gasoline. And yet, the same voices are crying for a
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>> solution
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>>> for
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> high gas prices.  No problem, let's start drilling!  No, we
> > can't
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>> do
> > >>>
> > >>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>> that
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> because of the "environment".  Fine, let gasoline go to five
> > bucks
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>> a
> > >>>
> > >>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>> gallon
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> and we'll slow global warming and "help" the environment. The
> > laws
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>> of
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>>>> supply
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>> and demand are pretty straight forward provided you keep
> > emotions
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>> and
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>>>>> "rights" out of the decision making process.
> > >>>>>>>>>>
> > >>>>>>>>>> Brad
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>> On Fri, May 2, 2008 at 7:06 AM, Tootle <ekroposki at charter.net>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>> wrote:
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>> Brad stated, "Here's a novel idea for the passenger airlines I
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>> learned
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>>> in
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>>> grad school - if it costs 4 cents to produce your product,
> > charge
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>> a
> > >>>
> > >>>
> > >>>>>>>>>>> nickel."
> > >>>>>>>>>>>
> > >>>>>>>>>>> Then he followed with a question, "Where do we find these
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>> people?"
> > >>>
> > >>>
> > >>>>>>>>>>> Brad, your question presupposes that the readers either
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>> understand
> > >>>
> > >>>
> > >>>>>>>>>>> business
> > >>>>>>>>>>> (aka economics) or give a damn.  Remember you are asking that
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>> question
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>>> to
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>>> supporters of Hillary and Obama and maybe even McCain.
> > >>>>>>>>>>>
> > >>>>>>>>>>> And Michael M has already said that we need to lay off the
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>> subject.
> > >>>
> > >>>
> > >>>>>>>>>>> Apparently the socialists among us have been discretely given
> > a
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>> green
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>>>>>>> light
> > >>>>>>>>>>> by Michael M.  One posts an obviously baiting citation of a
> > Maine
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>> advocacy
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>>> of national health care.
> > >>>>>>>>>>>
> > >>>>>>>>>>> I ask you how many understand the following short article?
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>
> > http://www.gmu.edu/departments/economics/wew/articles/07/economicthinking.htm
> > >>>
> > >>>
> > >>>>>>>>>>> Ed K
> > >>>>>>>>>>> Greenville, SC, USA
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>> --
> > >>>>>>>>>>> View this message in context:
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>
> > http://www.nabble.com/Political---big-Al-delete---Brads-economic-question---However-Big-Al-have-considered-that-you-opinions-might-be-necessary-to-keep-the-young%27uns-in-reality--tp17017185p17017185.html
> > >>>
> > >>>
> > >>>>>>>>>>> Sent from the Rhodes 22 mailing list archive at Nabble.com.
> > >>>>>>>>>>>
> > >>>>>>>>>>> __________________________________________________
> > >>>>>>>>>>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>>>
> > >>>>>>>>>> __________________________________________________
> > >>>>>>>>>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>>>
> > >>>>>>>>> __________________________________________________
> > >>>>>>>>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>>>
> > >>>>>>>> __________________________________________________
> > >>>>>>>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>>>
> > >>>>>>> __________________________________________________
> > >>>>>>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>>>
> > >>>>>> __________________________________________________
> > >>>>>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> > >>>>>>
> > >>>>>>
> > >>>>>>
> > >>>>>>
> > >>>>>>
> > >>>>> __________________________________________________
> > >>>>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>>>
> > >>>> __________________________________________________
> > >>>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> > >>>>
> > >>>>
> > >>>>
> > >>>>
> > >>> __________________________________________________
> > >>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> > >>>
> > >>>
> > >>>
> > >> __________________________________________________
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> > >>
> > >>
> > >>
> > > __________________________________________________
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> > >
> > >
> > >
> > >
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> >
> __________________________________________________
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-- 
Robert Skinner  "Squirrel Haven" 
Gorham, Maine         04038-1331
s/v "Little Dipper" & "Edith P."