Archive for December 2010
Health Saving Accounts. Trust me I know that these work. I found out the hard way last Easter. but as far as I can tell I don’t really believe reform is wanted. I just think it’s hot air coming out of Washington.
I have coverage from Walmart that covered my heart attack and had only $5000 in out of pocket. My supplemental policy paid the $5000. Insurance cost me about $17 a week and Walmart chips in $20 bucks a month to the saving portion and I chip in $100. If i don’t use the money by age 65 i get to spend it any way I want.
The only thing they didn’t cover was a couple of thousand (out of $15000) for my Medivac bill. I now have a supplemental policy for Patti and I for $59 a year to cover that.
This plan would work for everybody if the clowns in Washington were serious but don’t hold your breath!
Got to hand it to the ChiComs. They do the capitalist thing right. As some commie once said, “the capitalist will haggle over the price of the rope to hang themselves.”
They have enough money to buy control of our oil companies. Wouldn’t that piss off a few patriots! Hey, if you want to build a hybrid electric car you have to buy the rare earth metals essential for battery construction from China. Want to run budget deficits? Better ask the Commies for the money? Been to Walmart lately?
Chinese trinkets rule, baby!
How long before we have to “consult” with these guys to take a shit, hmm? But of course, as soon as Oba mama comes back from his next vacation he’ll look in to it!
BEIJING—Foreign companies have been teaming up with Chinese ones for years to gain access to the giant Chinese market. Now some of the world’s biggest companies are taking a risky but potentially rewarding second step—folding pieces of their world-wide operations into partnerships with Chinese companies to do business around the globe.
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Lin Zuoming, left, president of Aviation Industry Corp. of China, with GE CEO Jeffrey Immelt, announcing plans last year for an avionics joint venture.
General Electric Co. is finalizing plans for a 50-50 joint venture with a Chinese military-jet maker to produce avionics, the electronic brains of aircraft. The deal with Aviation Industry Corp. of China would give GE access to a Chinese government project aimed at challenging Boeing Co. and Airbus in the civilian-aircraft market.
General Motors Co. established a joint venture this year with SAIC Motor Corp., its longtime partner in China, to produce and sell their no-frills Wuling-brand microvans in India, and eventually in Southeast Asia and other emerging markets as well.
A whole lot of politicians bite the dust. Especially Oba mama. Maybe that’s the plan.
I’m predicting a worse outcome over the next two years, which takes us to 2012 with higher gasoline prices, uncertainty as to the future of hydrocarbons, more regulation on the hydrocarbon industry based upon who the administration is today…
And what I fear the most is that by 2012 prices are so high that we have a backlash from the electorate and we go into reverse and we go back to a hydrocarbon only type of a future, maybe with some nuclear, instead of moving on in the 21st century.
I’m predicting, based upon the moratorium in the Gulf of Mexico, up to a million barrels a day of US production gone because of the politics of freezing drilling in the Gulf.
The headline is the moratorium is lifted, the reality is you can’t get a permit… I’m expecting no new drilling for two more years at least.
If we stay on our current course, within a decade, within ten years, we’re into energy shortages in this country big time. Black outs, brown outs, gas lines, rationing – that’s my projection based upon the current inability to make decisions.
When the American consumers are short, or when prices are so high – $5 a gallon for gasoline by 2012 – I believe that’s going to happen – that’s going to set a new tone, it’s going to be panic time on the part of the politicians, they’re going to suddenly get some kind of a sense we better do something.
The scary thing is that Mr. Hofmeister is basing his $5 per gallon gasoline prediction on supply/demand issues
Paying off your house is low on your priorities. With a million or so in interest be hard to beat the tax savings. But for just about everyone you’ll ever meet in your life it’s the only way to go. It never ceases to amaze me that “financial gurus” advocate not dumping the mortgage and invest the money in the stock market, gold, baseball cards, pyramid schemes or even a bank. What’s with that?
Oh yeah, these guys sell this shit!
If you consider that most of us don’t have a pot to piss in because we spend our whole lives paying on a house, let alone paying rent, you have to really like gambling to keep this up. Especially when you consider that a house cost more than it’s worth and you always need a sucker to pay more than you did just to get rid of it.
Of course, the sooner the better you do the better you’ll feel.
Being part of the “trailer trash” set means that I can scrape up a couple of hundred bucks a month to be snug as a bug in my mobile and could probably have enough dough buy your place. But why would I put my self in that position. I would move into an RV first and visit my kids in Florida.
Since Patti and I will have a couple of grand a month in Social Security money we will be able to do damn near what we please while most working stiffs slave away for the bank paying all those mortgages, credit cards, student loans and don’t forget car payments out the Ying Yang.
Or they go completely bust and end up under a bridge.
I’ll still chip in a few bucks to the salvation Army to keep the soup kitchen working.
Do you really think things are going to improve that much when we boomers retire? You going to buy all those houses? If you’re still working you will have your hands full buying food and shelter. Taxes through the roof. What’s it going to be like supporting 80 million or so geezers who don’t have a dime? Remember all their wealth is in the “equity” in their houses. And try taking their Social Security away. Hell a bunch of them are half nut ‘Nam vets.
I know, Oba mama will save you. Or Sarah maybe. Hillary? The ChiComs? Good luck with that!
The monthly return from paying down the mortgage, on the other hand, is a sure thing. So the fair comparison is not with stocks but with other close-to-sure things, like Treasury bonds or CDs. That makes the mortgage payoff look a little less dumb. I know of only a handful of CDs paying 3% before taxes. Treasury bonds don’t even come close.
The one exception would be when the saving alternative is a 401(k). There the company match, which might typically be 50% if your company offers one, can make the return on a conservative stable-value fund competitive with the payoff you get from wiping out your mortgage. Where else are you going to get an immediate 50% return, guaranteed? Of course, if you’re already contributing as much to your 401(k) as the company will match (and you are, aren’t you?) that option isn’t available.
You expect inflation. A fixed-rate mortgage is a good hedge against inflation. You pay the lender a fixed number of dollars, even as inflation makes each dollar less valuable and puts more dollars in your paycheck. If you expect hyper-inflation the last thing you’d want to do is pay off your mortgage–as long as you were sure you’d keep your job.
You expect housing to rebound. If housing prices bounce back, having a mortgage boosts your equity even faster than the market lifts the price of your house. Say you have a $500,000 house with a $400,000 mortgage. Over the next five years, assume the price rises to $600,000. Your home has appreciated by 20%, but your equity has doubled, from $100,000 to $200,000. It’s the magic formula that minted millionaires by the bushel during the real estate bubble.
The problem is, while inflation and a housing rebound may seem likely sooner or later, they’re no sure thing. Deflation has ruled the Japanese economy for two decades and real estate is still drastically below its peak in 1990. It’s a long shot to happen here, but would you bet the house on it, if you had the choice?
Exactly my point that the working stiff has been sold out by “free trade” fools and gangsters. The only “American” winners are the banks and politicians in bed with the Chinese Communist. Pat Buchanan and Ross Perot warned anyone who would listen but no one gave a shit.
At least I’m not guilty as I voted for Buchanan in the ’91 primary as a protest against Bush and Clinton, both sellouts to the big money gang that owns our government. And no, there’s nothing we can do about it except remember how good it was to be the richest and most powerful country ever on Earth.
There was a sequence of events that I observed over the last 25 years culminating in the destruction of one private business. This was a small corporation owned by an American family who had started off using local talent to make a quality product and took great pride in the “Made in USA” label.
* Early to Mid 1980s: Company is born, grows, and does well. Moves from a mom and pop shop to hiring non-family members. A lot of hard work and growth during this time pays off. To help facilitate growth, investment, etc., company takes on partners with expertise in specialized areas.
* Late 1980s: Company continues to do well, but growth plateaus. Original owner does not want to do a public offering of the business. Internal triangulation and disagreements on how to proceed leads to moves by newer partners to break-up/sell the business. Original owner/family takes out loan to buy their company back from the newer partners. This takes a significant amount of money out of reinvestment in the business and improving health/retirement plans for all workers (including the owners).
* Early 1990s: Owners continue to use American parts and labor as other companies begin to outsource some production of parts to Mexico. The company survives the regional recession of the early 90s and the owners are able to make their payments to the bank for the buyout and are also able to do a large expansion.
Whether real or contrived, Oba mama needs to be reelected and his gang controls the numbers. Right now housing is still a disaster as the bulk of shaky mortgages come due in 2011 and most of the people paying can’t afford or simply don’t qualify to refinance. Add to the mix rising oil prices, which help destroy Carter back in the 70’s, unemployment that won’t quit and you get a president who needs a lot of help.
Hell, he needs a new ‘911. Stay tuned.
The store had good traffic but we’ve missed sales projections for the month and so our hours will stay cut. We don’t want to get used to losing a hundred bucks a week but at least it’s steady.
Oh yeah, Xmas is still a pain in the ass and I’m still agnostic that it’s good for people to go nuts and buy a bunch of Chinese trinkets and pass them around to make themselves feel better.
But it pays the bills!
It was great to see Oba mama get rolled by the Repubs. Now they knows what the right has been feeling since Reagan.
You vote for them and they stick it in your ass. LOL. I fell for it by Reagan in the 80’s then Newt back in the 90’s and didn’t figure it out until Bush went nuts and invaded Iraq and stayed there. What the fuck was he thinking?
You kill the bastard replace him and leave, for Christ’s sake. And you don’t give gangster bankers money for destroying the economy! You jail them!
Obviously, he was doing what he was told.
The store sales are still down 4 % and our hours are cut by 5 a week. Don’t expect much improvement in January. Good thing we don’t live paychrck to paycheck like most people I know.