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So you like to ponder the economy....

 
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greyfaced
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Joined: 06 Jun 2008
Posts: 509
Location: Pleroma, Oregon

PostPosted: Fri Jan 16, 2009 4:09 am    Post subject: So you like to ponder the economy.... Reply with quote

http://www.thisamericanlife.org/Radio_Episode.aspx?episode=355
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Cyndre
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Joined: 22 Jul 2008
Posts: 189
Location: La Badlandsa - So Nice!

PostPosted: Fri Jan 16, 2009 10:14 pm    Post subject: Reply with quote

I didn't listen to it but I figure it's pretty well analyzed what caused everything by now.

I talked w/ some guys that were working in finance at the time. These guys are like 35ish and they are retiring because 1) they can and 2) "it's not worth it anymore".

By "it's not worth it anymore" they mean they aren't getting high six and mid seven figure bonuses for a year's work anymore.

I don't know what the hell I did wrong; I get happy when I get a $7k bonus for the year. $7,000 is 0.07% of a million dollars - good career choices Steve.
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Chickens, page 425 of Wayfarers, is missing a key rule. If you roll a natural 6, you roll again and keep a cumulative total until you do not roll a 6. Rolled a 13 to hit, 19 damage, etc. Helps the trash talk.
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Gregory Vrill
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Joined: 06 Jun 2008
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PostPosted: Sat Jan 17, 2009 12:41 am    Post subject: Reply with quote

I'm about $25,000 in debt. That's my net worth. No house, no equity, I don't even know what 'equity' means.

Fortunately, the thing about chicks? They take derivatives. Girls are more interested in promise and up-and-comers than high rollers at their peak about to go down. You just gotta be movin on all the time, even if you're piss poor like all us sorry sods.
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Cyndre
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Joined: 22 Jul 2008
Posts: 189
Location: La Badlandsa - So Nice!

PostPosted: Sat Jan 17, 2009 1:05 am    Post subject: Reply with quote

I wouldn't worry about 25k in debt, assuming it's educational debt and not consumer debt. I have much more than that; sometimes I get depressed, but that's because of a lot of things and not so much the money specifically.

What ever happend to Vandy?? Seemed like an amazing opportunity.
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Chickens, page 425 of Wayfarers, is missing a key rule. If you roll a natural 6, you roll again and keep a cumulative total until you do not roll a 6. Rolled a 13 to hit, 19 damage, etc. Helps the trash talk.
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greyfaced
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Joined: 06 Jun 2008
Posts: 509
Location: Pleroma, Oregon

PostPosted: Sat Jan 17, 2009 2:01 am    Post subject: Reply with quote

Does that mean I should be happy with my edukational levels, and enjoy tearing down walls in my house....?

Am I making the classic mistake and getting a degree.....

I'm not actually serious, but the thought has crossed my mind.

And yeah Cyndre, for the people who exploited the crap out of the market and got out cleanish they can retire.....
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Harold Riley
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Joined: 06 Jun 2008
Posts: 179

PostPosted: Thu Jan 22, 2009 1:21 pm    Post subject: Money matters. Reply with quote

The Dow is at 8k again.

Not the 5800 I predicted two months ago, but not 9k it was a couple of weeks ago either. I think some harsh realities are setting in. -That being the banks can never make good on the money they supposedly could access. That special money that never existed, but people used to invest, which even lead to more investments. The CDS market was 'valued' at anywhere from 60-90 trillion. What a load that is.

IMO a majority of those finance folk were overpaid and overrated. It's a great place to be if you are one, but IMO they didn't do much to make the world a better place. It might sound quaint, but I'm honestly much more interested in folk who make the world better. After you can comfortably take care of the necessities and take a nice holiday every now and then, money is money.

Rolex cracks me up. Some dude sells a very simple old technology with a markup that enables people to fit in with the shallow rich. They even sit you down and consult with you when you buy it, like it is a very heavy matter. -Talk about roleplaying.

Not saying those finance guys aren't fortunate. I just hope they are doing something cool with that cash. It can be a powerful tool and I hope they aren't wasting it on fancy watches.

Random thoughts. Smile EDIT: Oops, sorry Harold.
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greyfaced
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Joined: 06 Jun 2008
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Location: Pleroma, Oregon

PostPosted: Fri Jan 23, 2009 4:39 am    Post subject: Reply with quote

They are buying fancy watches. As I have said before; it's all a confidence scam. I'd be interested to see a comparison between the global pool of money and global GDP. If that was also further compared to stock price movements you might get some interested economic information. Maybe not, but I would like to look at it.
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greyfaced
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Joined: 06 Jun 2008
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Location: Pleroma, Oregon

PostPosted: Tue Feb 24, 2009 8:48 am    Post subject: Reply with quote

found this little side note while reading about Bank of America.

A.P. Giannini (founder of B of A) gave away millions, but died with an estate of only $500,000. He turned down a $1.7 million dollar bonus that the bank wanted to give him, saying they should use it to help their customers instead.

Gianniani became a legend right after the 1906 San Francisco earthquake. After his bank burned down, he set up a wooden plank on two barrels along the street and made loans. All it took was a handshake and he later said every loan was repaid.

What happened to bankers like that?

I haven't read much lately about micro lending in the U.S. but maybe I should revisit that subject. Some good stuff was going on there a while a go.
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greyfaced
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Joined: 06 Jun 2008
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Location: Pleroma, Oregon

PostPosted: Fri Aug 14, 2009 8:32 am    Post subject: Reply with quote

http://www.ted.com/talks/dan_ariely_on_our_buggy_moral_code.html
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Cyndre
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Joined: 22 Jul 2008
Posts: 189
Location: La Badlandsa - So Nice!

PostPosted: Wed Aug 26, 2009 11:50 pm    Post subject: Reply with quote

greyfaced wrote:
found this little side note while reading about Bank of America.

A.P. Giannini (founder of B of A) gave away millions, but died with an estate of only $500,000. He turned down a $1.7 million dollar bonus that the bank wanted to give him, saying they should use it to help their customers instead.

Gianniani became a legend right after the 1906 San Francisco earthquake. After his bank burned down, he set up a wooden plank on two barrels along the street and made loans. All it took was a handshake and he later said every loan was repaid.

What happened to bankers like that?

I haven't read much lately about micro lending in the U.S. but maybe I should revisit that subject. Some good stuff was going on there a while a go.


Fidudiary duty and internal controls and EPS happened Sad
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Chickens, page 425 of Wayfarers, is missing a key rule. If you roll a natural 6, you roll again and keep a cumulative total until you do not roll a 6. Rolled a 13 to hit, 19 damage, etc. Helps the trash talk.
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JimmySwill
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Joined: 02 Jan 2008
Posts: 1390
Location: Torsche

PostPosted: Tue Jan 26, 2010 8:49 am    Post subject: Reply with quote

Awesome economics lesson:

"Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem
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