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Stirring The Pot

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  • #16
    Re: Stirring The Pot

    Originally posted by BHD View Post
    In all my life the main Investment advice I have ever heard, was to,
    Do not to invest any money you can not afford to lose,
    If you can not afford to lose it you save it, not invest it.
    I am a big fan of traditional values. But in this day and age, keeping your money in cash in a savings type account guarantees that you will take it on the chin in the long run. Interest rates, taxes and inflation make saving a loser, I am very sad to say.

    THis is not a coincidence. The financial world wants very much to force people into investments rather than savings. Why? It is real easy for them to steal your money. The average joe has about the same chance of doing well with investments that the Christians had about doing well against the lions.

    Remember, we don't have real money any more. Real money was backed by rare assets that have intrinsic value. Real paper money was redeemable for real gold or silver. What we have today is not money. It is currency.

    Look at the bills in your wallet. THey aren't redeemable for anything. THey are Federal Reserve notes - says so right on them. That is the very same Federal Reserve that is a private bank, headed up by Bernanke (who has not been right about anything so far). The same Federal Reserve that is not accountable to the US Government but is the ONLY agency that can print US money.

    Did you realize that? The US Treasury can't issue paper money. ONLY the Fed can. AND THEY ARE NOT PART OF THE GOVERNMENT!!!

    Your best bet is to put your wealth in assets that have intrinsic value, not phony Federal Reserve banknotes or other dollar-based assets. I do think that a good asset is real estate, but in this market only under very specific conditions that are nearly impossible to achieve right now.

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    • #17
      Re: Stirring The Pot

      Originally posted by NHMaster3015 View Post
      Oh they realize it just fine. Problem is they have based revenue and expenditure on those tax values. I think that now is a very bad time to invest in anything long term. Note the market has gone up and that's because investors are clambering to make profit as quick as they can before gas prices tank the whole damn thing.....again. Put your money into rice, guns and ammo
      Bought a Glock today.

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      • #18
        Re: Stirring The Pot

        Originally posted by Pipestone Kid View Post
        I think this post should be mandatory reading for the tax assessor--he doesn't seem to realize that housing values have dropped!
        At least where I live it doesn't matter. The only thing that matters is the assessed value of your house compared to the total assessed value in the taxing district. The value is even in some fictional dollars, my house is worth about $520K [I paid $620K four years ago], but the assessed value is $10K or so.

        Our town or school district budget will be whatever it is going to be, and our taxes for the year are just the budget multiplied by your assessed value divided by the total assessed value.

        The assessed values are also rarely changed unless you file a grievance or pull a building permit.

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        • #19
          Re: Stirring The Pot

          I have mixed feelings regarding the foreclosure disaster.

          First and foremost perhaps, is the question of where does anyone get the idea that it is their "right" to own a home? And if you believe that, then where does it state that one has the right to own a home that is bigger, better, more lavish than you could ever possibly afford?

          The banks fed into this for sure, and took advantage of our greed. But the banks aren't responsible. Nobody put a gun to anybody's head and forced them into change-rate mortgages or to borrow based on speculative values. No one in their right mine would ever buy something based on some idiotic idea that what they are about to pay is based on some future estimate of possible value. We generally don't buy cars based on what they will be worth in ten years. We buy cars to fit our needs, satisfy our yearnings, and fit our budgets. And, they loose money the very second the dealer hands us the keys!

          This so-called "under water" complaint that mortgage debtors have is garbage in my opinion. If you bought a home just as a speculative investment for profiteering, then you take the gamble... and in this case you lost and it's nobody's fault but your own. Nobody should have the right to walk away from a debt that they willing took on and signed responsibility for. A home is a responsibility and a privilege that costs us, and because it costs us, it has value and we need to take care of it. It provides shelter, entertainment, value and yes, "status" to our personal lives. If you can afford it, that's great; and if you can't, then you stick to a house and a neighborhood that you can afford!

          I just happen to live next to one of these idiots who bought a house that they couldn't possibly afford; and, under the circumstances that I've had to put up with, I don't feel the least bit sorry for them. My wife and I purchased an old home in a great neighborhood about five years ago. The price was higher than it might have been due to all the speculation in the housing market. But at that time, our purchase had "value" that was worth our expense, as it was near our son and grandchildren. I've probably put more into my house than I'll ever get out of it, but hey, it's where I live and I want it nice!

          The guy next door bought his house the year before. He paid less for his home than I did for mine, but it seems that he did it on speculation, letting me know almost immediately that his home was worth more than mine and that he was going to make a fortune when he sold it.

          The guy and his wife don't work and they have three children, two of which are in their late teens. His previous job was as a baggage handler at one of the airports in NYC. At the age he bought the home, he had to either be living off his early retirement bonus (if he had one) or else on disability. Seeing him strutting around the back yard, I would question the latter, but then again he doesn't do anything around the house either.

          At the time they bought the house the woman's father lived with them and as I've been told by a relative, his social security went toward the mortgage payments. Unfortunately, the poor old fellow passed away about a year after we bought our home, which would be just about two years or so into their mortgage.

          Within a year or so after the FIL passes, I begin to see that they are looking like they're in financial trouble. They go from two vans, down to one, and that one is like on it's last legs, so to speak. Next I see them just stop doing things around the house, like they don't shovel the walks and the garbage just begins to stack up without anyone taking it to the curb (we have pick-up twice a week, but you have to buy the official "city" bags which cost about a $1.50 a piece). These people are stacking up their garbage in plain old black bags which the city won't take.

          While it is apparent that they don't want or don't have the money for city garbage bags, they do seem to have money for a variety of what I call trailer park junk, with plastic flowers, croaking electric frogs, and several sets of wind chimes all over the back yard.

          By spring, of 2009, I see their name published on the City's "Water Shut-Off" list, because their bill was over $800! About that time we start having some real problems with them, between the noise of blaring radios, and a whole he!! of a lot of belligerence and foul language. I'm also getting an increased amount of garbage and debris from their place, that is blowing into my yard.

          In late May, 2009 the bank foreclosed on their house and the county records go from thier name to being owned by the bank. I just figured it would be a short amount of time before this headache would be gone and out of my life. But here we are almost twenty months later and they are still there. In this time, I've had my house damaged twice, and we face constant yelling and screaming in the most foul language you will ever hear. We've also been threatened several times. It has reached the point where we've had to call the police three times now and I've had to add an alarm and surveillance monitoring system to my property.

          The bank has tried to turn the property over to a realtor for a market appraisal, but that person also met with their belligerence and won't go back there until the bank evicts them. Meanwhile the house is rapidly deteriorating with debris, peeling paint, broken windows and steps, etc. Their hedges have now grown up to the second floor as I don't think they've been "topped" since they bought the place.

          Sadly the bank seems to have their hands tied and all I get from them is that "the property is occupied" and no one seems to have a clue as to what to do or when they are going to do it. They supposedly had a court hearing back in early November and it was transferred to the bank's "eviction coordinator", but to date it doesn't look like these people have any intention of moving.

          In the meantime, these pigs don't pay a dime for their occupancy. The bank is paying for the taxes and these poor, sad, put-upon folks are living it up. A year ago they dumped the old van and bought a 2006 Dodge Caravan and this past summer they bought a fairly new Hundai sedan... and in November they got rid of the Caravan and came home in a brand new Chrysler Town & County! I'm not sure if that was a lease or a purchase, but what difference does it make, these people are having a great time. And, almost every day the woman is in and out a half dozen times, most always coming home with bags and bags of stuff she buys. (I know, because every time she pulls into the driveway she lays on the horn and blasts her radio while she casually unloads all the crap she bought.)

          Even without a mortgage payment or taxes, my wife and I are wondering how life could turn around so quickly for them in the last year and a half... but with three kids, and no job they're probably making a good penny off of either welfare or disability.

          So I watch, listen, and read about all the poor folks who have lost their homes to the big, bad banks and who are now living in cramped apartments or worse, their cars! While that might well be true in many areas of the country, I see these pigs next door to me, who are milking the system for all it's worth; and nobody seems to be able to do anything about it... not the city, not the cops, and certainly not the bank who is throwing away money every month, while these squatters live free.

          CWS
          Last edited by CWSmith; 01-15-2011, 02:00 PM. Reason: typo

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          • #20
            Re: Stirring The Pot

            ....
            Last edited by tailgunner; 01-17-2011, 03:51 PM. Reason: Bad idea to begin with.

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