Termyn8or
Posts: 18681
Joined: 11/12/2005
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Gris, you and I are going to have to have a talk sometime. If you are indeed top 5%, you are millionaire more than once over. And that is something else, you mean in the US ? if so it doesn't mean shit. There are at least hundreds, possibly thousands of people in the world who can buy and sell US billionaires.
Some of your posts are so astute that I think possibly you do actually realize that you do not own that money. Nobody can really own that much money, you are holding it. Like a trustee. That being said you would like to use it wisely of course, or more aptly put apply it to the best purpose possible.
But then we all do have the same questions, how and what ? I have money, but I keep things in perspective. I could write a check for webhosting, register a couple domain namesm and start a couple of websites. But then if the thing doesn't at least pay for itself I might sink. I am a realist.
You could write a check for that and wipe your ass with it. It would be like when you are going to the bathroom and then drop a dime in the toilet, fuck it, just flush it. Well there is one way if you really want to know. You flush it but you have a stick, remember sticks ? Just keep the dime trapped while it flushes. Afterward, retrieve the sacred dime and wash your hands. And the dime as well.
If you want to do something let me know. The top 5%, you could write a check that would pay for hosting of at least two websites, and pay for at least a half dozen domain name registrations. You would never pay me a dime, unless otherwise agreed. I could come up with some content, and I think your point would be a good starting place.
I think, literally part of the problem is that they no longer teach math in the schools. They call it that but it is not even similar. It was explained to me how a loan works, just fresh out of my teens. Literally twenty years old. The olman brought out a calculator and showed how to figure it out. And he could've done it without the calculator.
These skills are lost today. I can still do long division, and if I take my time to remember it, I can still do longhand square roots. Now who the hell can still do that ? Speak up.
I can come up with content. Oh boy. You want the front page to be a warning about these lending practices for people ? I can totally describe how loans and equity work for the layman. I have a program I stole, I'll pay for it don't worry, that is an instant loan calculator. It does not generate amortization tables, but it's inclusion would probably be a good thing.
We were way ahead of Carlton Sheets. Buy a house and get a loan on it for twice what you paid for it. Did it. But we knew, we knew how a loan works. The commoners must be made to understand, when you buy a house you can't move for a long time. Don't do it unless you are ready. But then they think they're ready when they are not. (I did not say there were any commoners here nor did I intend it to be derogatory in any way)
That goes back to their [defunct] education. I learned about it when I was about 20, and I wish it was earlier. People do not understand that when you get fifty percent through the term of the loan, that you still owe like eighty percent of the money. I can demonstrate why mathematically and have done so more than once. I even wrote a program in BASIC to do just that years ago. Yep, on the old COCO. Stored it on one of them there casssssette tapes, which I will never find. (even if I could it would be useless now)
If the schools aren't going to do it, and the Parents can't do it because the schools did not do it back then either, just who the fuck is going to do it ?
When someone reads that they can borrow $150,000 for $550 a month, it has to dawn on them that it does not addup. That might even wind up resulting in a negative equity. And there are plenty of eople who don't realize, go pay the taxes on such a property, heat it, and of course insure it. The 550 is well been doubled right there.
But they get approved. And THAT IS the fault of the lender.
But just because they will do it and give you anything you want, that doesn't mean you should take it. Just because the spedometer in my car goes to 190 MPH doesn't mean I should drive that fast.
And THAT IS the fault of the borrower.
And apartment dwellers have no way to know. There is grass mowing, snow shoveling and tree part removal. Anything that goes wrong, if it is ten grand, come up with it. You have noone to turn to. You cannot lay it on the landlord because you are the landlord, and moving would be very expensive.
You might have to write a check just to get out if you don't sell it for enough, it could be thousands and could wipe out alot of people's savings. Or you could borrow it, but then you have no collateral. Think you'll get it at 2.9% ? I doubt it. So then you are making a payment for a house you no longer have. How's them apples ?
Doom and gloom, everybody runs away. But there will come a day when there is no longer anywhere to run. And it is sooner than most think. A website to teach people these principles would be a good thing, because I doubt anyone else is going to do it.
If you would like to do anything positive to these ends, and that means everyone, it is not that hard to get ahold of me.And I actually check my "C"mail before my regular mail. Ask me if that means snail mail or regular email and I will tell you, truthfully, BOTH.
I would love to start anything that helps people. We sit here on our asses and hem and haw about the world's problems, but sometimes a way presents itself that could allow us to sit on our asses and really do something good.
Are we there ?
I hereby yield the floor.
T
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RE: What's going on here ? (Economy) - 
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