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Davos is my new hero for using the phrase “weapon of mass dumbification.” Oh, yes.
thx, I stole it from a commenter on one of my articles 0hedge ran 🙂
The Deflation Argument—there is none!
I like to beat dead horses, what I’m driving at here is 54% employment these kids are going to get smart fast and not take on debt. Living in dad’s basement with debt is worse than living in mom’s basement without debt.
How much difficulty are borrowers having paying back their debts? Of the 37 million borrowers who have outstanding student loan balances as of third-quarter 2011, 14.4 percent, or about 5.4 million borrowers, have at least one past due student loan account.~Source
Where are we on the housing map of prices?
I boast about making 6 figures on RE in 90 days—what I neglect to mention is the 12 months of mentoring I got from one of the area’s most successful CREI’s. What I learned is that you make your money buying when you sell. In other words, if you don’t steal it on the buy don’t bother.
With FC’s and short sales you can buy right. But I’m seeing that chart in the 50s until hyperinflation kicks in, and who knows if that’ll be next week or 2 years from now?
Another thing: Inventory. We have 12% of homes vacant. 30% of FY2-6 buyers were subprime—they’re gone.
Also, you mention renting to school kids. You might read up some on college being the next bubble.Fully 55% of those aged 18-24 (and 4% of 25-34 year olds) say young adults are having the toughest time in today’s economy.
A quarter of adults aged 18 to 34 (24%) say that, due to economic conditions, they have moved back in with their parents in recent years after living on their own.
Also you have the entire Linda Green thing and who knows how foreclosures are going to wind up later on down the road. In other words: Are you going to retain title?
Hope that helps.Doug wrote:
Davos mentioned Richard Branson as one who did not complete HS. I saw an interview with him in which the interviewer asked him about not finishing HS. He appeared to ponder the question for a few seconds and said (paraphrasing) I don’t believe I know a successful entrepreneur who graduated high school.
I’ve thought about that a lot since first hearing it.
Before I go off—again—let me just underscore what Steve said, if you write like I do you’ll be called a moron.
And, RNcarl states that school doesn’t teach you it gives you the ability to learn. I agree it doesn’t teach you. That said, when I was trying to wrap my mind around OOP I broke down and “dropped in” (audited) a class at the community college. The first 2 I walked out on—after telling the professors they were very good at coding and smart but my dog could teach better. The third was the proverbial charm. A guy who was older than dirt and learned how to program on punch cards. He knew computers so well—-and he could teach. Frankly if every teacher was like him I’d have stayed in school in the 80s. School could teach you how to think—if they hired good teachers and not momos. That guy could impart how to solve a thinking problem (an algorythm).
Also, flight school was cr#p in the classroom. Bernoulli’s law is what I was taught and later taught others makes lift. It isn’t. I paid about $40K and did it the “vocational” way, some kids I later flew with got out of fine schools like UND or Perdue, Dowlling, and one in New Hampshire that went bust, many were carying $90K in student debt—-all taught the same bee-s.
Funny, I just put down the Jobs book and picked up the Branson book. The first was better. I relate well to Jobs’s binary thinking where everything is 0 or 1, there are no decimals in between. “People are either gods or $hi#heads.” “Products are either great or cr#p”. I think what Branson was saying is the structure of school is a weapon of mass dumbification. It kills common sense and takes creativity along with it.
There are some incredibly smart people (gods) with education that have maintained common sense. CM, Dr. Al, Jim P, Jim Quinn… And then there are some $h#%*#@^ds:
The “Leadership” 5%
The “Financial Media, Experts and Professors” 5%
Well, assuming gold goes to $10,000 an ounce and silver catches up on its ratio (now an insane 50:1) and goes to say, 7:1, that $1,200 will be $50,000. Great for fixed debt if you are racking it up to be there.
Of course, the creep is going to snap into hyperinflation (if you ask me). Bernanke is calling it 2%, and since 2009 oil has gone from $47.10 a barrel to $106.70 (up 127%),— Gold from $922 an ounce to $1707 (up 85%), —Silver is up 155% since March 9, 2009— Overall food prices are up 35% since March 9, 2009 —Beef prices are up 72% since March 9, 2009— Gasoline prices are up 132% since March 9, 2009 —Corn prices are up 70% since March 9, 2009.
None of this has gone up, the doller (or dawler as my favorite Canadian reporter calls it) has gone down. So that $50k will probably buy you a few textbooks in your last year. But hey, I’m an optomist.
My wife just graduated. No debt. Her base courses were super. The school couldn’t teach computer programing to save its collective (ehem). I b#tched. At $1,500 a class—school of hard knocks me—should NOT have been teaching her how to code in C# and VB dot Net.
Personally I used to regret not having an education. After seeing that bee-s I have no regrets. I wrote the president and told him his school was $hit and his information systems professors $&^#d.
If I were in your shoes and if debt was involved I’d be off like a prom dress—after I told the college president & momo econ professors just how $hitty the classes were in comparison to the Crash Course. (And I’m assuming here that they are as cr#ppy as the rest of the universities economics curriculums?) These morons need to hear the truth.
If you’re there debt free and it isn’t breaking your families bank—enjoy. I’d sure as h#ll change my major and get into something like permaculture or alternate energy. A degree in Keynesian Economics will be as valuable as used toilet paper.
One more thing: While I’m uber-proud of my wife the graduation ceremony was like a court jester joke. Master Degrees in Homeland Security? School should be like it was in the old days, if you wanted to be an engineer or doctor or something like that you went, otherwise you went to work.
“You know why Warren Buffett doesn’t like gold, doesn’t understand gold, because gold has out performed his stock in the last ten years by three and a half times.”~Sourceewilkerson wrote:
I grew up with one as a father. He was, also, a narcissist . I believe the two run hand in hand a lot of times. Everything is all about them and what they want no matter what it takes to get it. No laws apply to them, and they feel they can treat others any way they want.
Dr. Chris P. , Machinehead, 2 Beers Steve, and I had dinner with Student of Jefferson but he sounds busy now.safewrite wrote:
God yes, that’s how it seems to work. Thank you for validating a theory I;ve held close to my vest for most of my life, that many upper-management types are certifiably nuts. So a large proportion of them are missing something, eh? Thought so.
Example story from real life:
My brother works for a software company, directly for the CFO as a “Solutions Architect.” When he is not crafting solutions to their clients’ problems, one of his duties is to keep an eye on the sales people to see that they do not “give away the farm” and charge less than the company needed to make a profit. There was one psychopathic salesman, let’s call him “Norman Bates” who was so pushy with making deals that woudl hurt the company that my brother literally could not let him get out of his sight for over two years.
“Norman Bates” could care less if the company went bankrupt: as long as he got his commission, he was happy and if the company failed he’d just jump to another one. My brother was unable to take a vacation for two-and-a-half years because the minute he turned his back, “Bates” would try to screw the company over for his own personal profit. The guy had NO conscience. None. And the company put up with the salesman’s outlandish behavior up to and including paying off someone he assaulted because the dude was raking in a lot of money. He eventually did some things that were so antisocial he as asked to leave. “Bates” was a psychopath, pure and simple, with amazing communication skills and innovations but absolutely no empathy and a frightening degree of narcissism. And the company allowed him a position of a influence for far too long because he was manipulating upper management while bringing in money. That’s why I wonder if anyone will stop their rise to the top: psychopaths can bring in money. When will we learn that they eventually cost far more than they seem to bring in?
Hi SafeWrite: I still have to PM you back. I talked to my wife about your expertise and what you explained. The research has been time consuming.
I posted this on my blog, but here is a direct link to his site. Your brother can submit the Bates story to the corporate psychopathy researchers. People can rate their bosses personalities and their coworkers. Since I released the podcast he’s gotten quite a bit of traffic, so all this should help us all.
A few observations I made from the notes I posted on that podcast with Dr. Jones that have a direct bearing on your interesting story of what your brother had to deal with:
2:50 Psychopathy is measured by the psychopathy checklist which breaks into four different aspects.
14:00 Just scratching the surface. Everything before has been leadership and fostering cooperative work environments.
14:19 We’re only now beginning to realize how these clinical and personality research can really form kind of derailing type of behaviors that we see in corporations. Now never has it been more critical at this juncture. Forty-three percent of all corporations report some major fraud at some point in the past few years.
14:50 There research reports estimating anywhere between $160,000,000,000.00 to $600,000,000,000.00 annually are pumped out of our economy as the result of corporate fraud. People are loosing their livelihood essentially because of these individuals.
15:09 It’s amazing and baffling to me that we are almost starting now to ask these questions.