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#12
posted to rec.boats.cruising
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Go Lehman GO!
"Jere Lull" wrote in message
news:2008092719152975249-jerelull@maccom... On 2008-09-27 17:13:36 -0400, "Capt. JG" said: "Jere Lull" wrote in message news:2008092716442316807-jerelull@maccom... Should the entire economy tank and we go into a depression, my investments and house will have the same value relative to the price of bread, about the only true measure. Well, that might not be true... if you have money in stocks, say a mutual fund, and we have a depression where the companies go out of business, the stock will become worthless. That portion of the mutual fund would become worthless, but a broadly-based mutual fund will track what its based upon. I'm tending towards index funds that "blindly" invest in every company in, for instance, the Fortune 500. THAT could become worthless only if ALL those companies went out of business. If that happens, we will have worse things to worry about. It wouldn't actually take all of the companies in a broad-based index fund to go under for the portfolio to be worthless. It might not be worthless initially, but I bet that if 30% went under, the rest would probably follow. Essential industries would remain, backed by the gov't, but that's about it. While it's true that your house will always retain some value, this also depends on who actually owns the house. Ours has been free and clear since '85, courtesy of my parents who married in '35. Well, then at least you won't get booted out, although if there are enough foreclosures, I doubt the banks would make such a move. -- "j" ganz @@ www.sailnow.com |
#13
posted to rec.boats.cruising
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Go Lehman GO!
Jere Lull wrote in news:2008092716442316807-
jerelull@maccom: Should the entire economy tank and we go into a depression, my investments and house will have the same value relative to the price of bread, about the only true measure. I'm currently deciding where to invest my severance. It won't be under the mattress. Actually, those that had cash in 1929 did quite well for themselves, according to my grandparents who were dairy farmers. Apples sold for 5c at retail. If you had a dollar's worth, you couldn't carry it alone. Those that had money stored with the bankers, of course, were the starving one with those that had nothing all along. For that reason, drilled into me by my grandparents, I've never kept much of the pittance I possess in the banker's purse, where it can get lost in a heartbeat, vanishing into thin air. Until I got married, for 17 years, I had no debt to the bankers, which is the root of all evil anywhere. Until you owe, you're not a slave. Once the wife found something she liked better, I shed the debt she left ASAP and have dealt in cash ever since. I also refuse to play the insurance scams as much as possible, saving me thousands of dollars each year. Not being in debt for a car, for instance, I do not buy comprehensive and collision insurance. Take that part of car insurance and multiply it times 32 years and see how much money wasted that is. If the windscreen breaks, I simply have it replaced out of the pot of money I DIDN'T give to the billionaire insurance scammers. When I was married, she forced me to buy Blue Cross/Blue Shield medical insurance on the 3 of us at $385/month. The only time I've ever been a science project was for laser lithotripsy up the plumbing to burn out a stuck kidney stone. When I was about to be released BC/BS of SC called me to say they wouldn't pay 80% of my medical bills unless I removed my wife from the policy because they got nervous over her thyroid condition, which had no effect on her and resulted in zero claims so they could keep it all, the reason they give you a policy in the first place. I refused and they threatened to cancel my policy. "What happens to all those thousands of dollars I've paid you all these years you had no intention of covering my family", I asked quite pointedly. They told me they would return my premiums...without interest, of course, having effectively borrowed money from me for nearly 14 years at no interest. "Send me a check by tomorrow.", was my reply. He did, after my lawyer contacted him, of course. I paid my exhorbitant little room bill, the doctor scammers and various "other charges" they refused to reveal a reason for. The rest of the money I simply put into the Federal Credit Union in a separate savings account that paid about 6% interest at that time in the 1980's. I paid into that account the same exact amount, to the penny, every month even if it hurt, to prove a point to my slave wife. Soon, the credit union called to remind me we had reached the $100,000 limit the FCUA would insure and did I want to open another account to keep it covered. I did, they did. We continued for years to pay into the accounts and filled that, too. Each year, we paid ourselves a "Medical Dividend" with the overage interest on them and just blew the money on whatever hit our fancy. $200K can buy as much medicine as I care to pay for. Any more you might as well be dead, anyways. Without insurance, you'd be amazed at how FAST medicine can get you in...fixed...and out because there is no insurance tit to suck from, extending your stay nearly indefinately if they can arrange it. We split the accounts when we divorced. She squandered hers. Mine went into a mutual fund which got very interesting before the tech bubble burst. They just kept replacing my shares in EMC with twice as many new shares a lot of times! I got out at the top of the bubble and put the money back in the credit union at the pittance interest they were paying just to store it and let it replace the taxes stolen from me at the point of a gun by the goon squads at the IRS. I don't do medical insurance or HMO scams, either. To enter a hospital of MY CHOICE, I use one of my VISA cards. If I don't survive or become a vegetable, the greedy bankers will recover their money in a chargeback because I will be unable to pay those bills.....ensuring I get WELL, not addicted. Doctors have never refused VISA, but I haven't tested it since the 80's. What a crash will mean to me is everything I'm forced to purchase will become dirt cheap, literally overnight, as supply will simply overrun the nearly zero demand. They'll be begging me to buy a new everything for a pittance....instead of my having to kiss someone's ass for everything I buy, now. I don't buy much. Sitting here shoulder deep in my "stuff", my collection of toys I accumulate by hook and crook used, I'm quite happy, now. If I want something else, I simply buy it. If I cannot afford it, I open a new envelope in the cookie jar and start working hard to fill the envelope until I can pay CASH. CASH IS YOUR FRIEND! EUROS, NOT DOLLARS! I forgot to mention that. I apologize. When it took $1.10 to buy a Euro, many years ago, I decided to turn my cash into Euros because I think united Europe is more stable than the New World Order bankers, here. I was right! $1 is only worth Euros 0.68 this week. Stupid Americans are still craving useless Federal Reserve Private Corporation banknotes in some blind stupidity they are backed by Uncle Sam. They're not. Euros are higher, so far, and it's getting WORSE! Euro cash makes more "interest" than American dollars at 4% interest.....and my rich Uncle DOESN'T have his hands out for taxes on interest with Euros. I don't get interest...It's not my fault they're worth more, it's HIS! I also suspect, after the crash, Euros will be more valuable in a foreign country than US dollars if I'm forced to flee. |
#14
posted to rec.boats.cruising
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Go Lehman GO!
"Capt. JG" wrote in
easolutions: He told me that they make about $20, which was a fortune at the time. Anyone in NYC with $20 cash was a millionaire in 1930. |
#15
posted to rec.boats.cruising
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Go Lehman GO!
Gogarty wrote in news:20080927-211553.616.0
@Gogarty.news.bway.net: I told her to sell everything at the peak of the dot com boom and buy a Super Maramu. But no... Hmm...let's all take a little look and relax..... http://www.amel.fr/videos-amel-54/ha...it/Amel-54.wmv Ahhh....don't you feel much better? She'll be half price after the Crash of '09! The guy Geoffrey bought the Sharki 41 from had a dismasted Maramu to replace it with. He had new masts on order. The inside of his looked exactly like this movie. The interior of the Sharki is just a miniature of it without the washer dryer and U shaped settee and lounge seats. There's a little piece of Amel mahogany sitting by my computer where we installed the new 120VAC power panel by the chart table. It's a little souvenir of my work on her....(c; |
#16
posted to rec.boats.cruising
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Go Lehman GO!
Jere Lull wrote in news:2008092719152975249-
jerelull@maccom: That portion of the mutual fund would become worthless, but a broadly-based mutual fund will track what its based upon. I'm tending towards index funds that "blindly" invest in every company in, for instance, the Fortune 500. THAT could become worthless only if ALL those companies went out of business. If that happens, we will have worse things to worry about. I don't think that's true. When you hand over CASH to a MONEY CHANGER, that money changer can simply make that money vanish at the stroke of the pen just like old Scrooge did for Charlie Dickens. Noone will be at the empty office with the empty safe to cash out those paper forms sold to you as an "investment". The government won't be there to bail you out like the billionaire bankers, either. Even if it's in an FDIC bank account, money will simply vanish. FDIC has $50B to hand out in the crash. They'll need $50T, not $50B, so once they hand out the available cash to the politicians' friends, you'll be simply left out and told tough luch. NEVER trust anyone else to hold your CASH....That's the scam. Of course, we've been shrinking the value of the CASH since 1913 when the government handed over their responsibilities to the American People to the banking *******s like Morgan, Chase, Rockefellers, Rothchilds, etc. They depend on your cash asset SHRINKING if you refuse to let them "invest" it for you, sucking off your wealth for themselves. What happened in the last few weeks is UNCONTROLLABLE REVALUATION....The ever increasing price of gold DROPPED, the money in your fruit jars GREW in value by nearly 25%! Prices even on oil started to DROP as the REVALUATION they couldn't seem to stop continued. STOCK prices dropped because the market MUST maintain par value during inflation and deflation. This HAD to become a crises because the dollars they were loaning out at 5% interest INCREASED in value MORE than the interest you were paying on it! Bankers were aghast! This hadn't happend on this scale for decades! Eisenhower was president! Bread at A&P sold for 24c/16 oz loaf! So, we dreamed up this bailout scam to protect those that caused it.....screwing those who would benefit most from gross deflation...the American taxpayers. Don't forget deflation HURTS GOVERNMENT BUREAUCRATS, TOO! If the dollar gets more valuable, prices all drop, 8% sales tax drops with it, wages must fall causing TAX REVENUES TO FALL dropping the tax burden on GDP that's killing us. Why....how awful! We may have to cancel some pork or....(gasp).....NASA! Well, I'm waiting for the crash. I might even buy one of those new $1695 Volkswagen Beetles, again. That's what I paid for the last one in the 60's.....(c; |
#17
posted to rec.boats.cruising
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Go Lehman GO!
On 2008-09-28 01:02:12 -0400, Larry said:
Jere Lull wrote in news:2008092716442316807- jerelull@maccom: Should the entire economy tank and we go into a depression, my investments and house will have the same value relative to the price of bread, about the only true measure. I'm currently deciding where to invest my severance. It won't be under the mattress. Actually, those that had cash in 1929 did quite well for themselves, according to my grandparents who were dairy farmers. Apples sold for 5c at retail. If you had a dollar's worth, you couldn't carry it alone. Those that had money stored with the bankers, of course, were the starving one with those that had nothing all along. For that reason, drilled into me by my grandparents, I've never kept much of the pittance I possess in the banker's purse, where it can get lost in a heartbeat, vanishing into thin air. I agree with this and the stuff I snipped, particularly the insurance, having been in the biz as a programmer. Biggest insurance scam, of course, is "social security", the most regressive tax we have. As I think I said somewhere, diversification is the key. Some cash, some fixed, some large caps, some small, some European and emerging markets, and so forth. I trust the broad markets more than the banks and governments. -- Jere Lull Xan-à-Deux -- Tanzer 28 #4 out of Tolchester, MD Xan's pages: http://web.mac.com/jerelull/iWeb/Xan/ Our BVI trips & tips: http://homepage.mac.com/jerelull/BVI/ |
#18
posted to rec.boats.cruising
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Go Lehman GO!
Gogarty wrote in
: No. At the time, the dollar price of a new Maramu was $500,000. Then the dollar went into decline. I suspect the Maramu would have held its value better than the stock market has. Sort of like the woman mentioned in the NY Times the other day who opined she would have been better off buying Hermes scarves than Sirius stock. You're just talking about new price, right? NO BOAT holds its price more than 50 milliseconds after you lift the pen at the end of your signature....at which point it becomes a used boat worth about half.... .....or worse. Open Google Earth and go to: La Rochelle Z.I , rue Joseph Cugnot, BP 15 17182 Périgny cedex put in La Rochelle, France. Look for the massive OTHER boatyards, which are across the street from the tiny Amel plant, about. Look close and you'll see a couple of maramus in the test tank behind the building last time I looked. I think the massive lot full of boats across the street is Beneteau. |
#19
posted to rec.boats.cruising
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Go Lehman GO!
"Larry" wrote in message ... I did it AGAIN! Love the ride. Friday, just as she started a little pop off 10c/share on the pink sheets, I held my breath and punched [RETURN], dumping the $1800 balance in my Ameritrade account into Lehman Brothers at 11c/share. It got to 40c/share but has slacked off to about 30c today, tripling my money before the tax bureaucrats show up for their half....(c; It worked this way with Enron. It also worked with Worldcom! Now some Asians are gonna buy up some assets they like. Might make 50c/share on MONDAY after the idiots in DC bail out the billionaire bankers. This is more fun than a roller coaster!....(c; "Those shares are useless! SELL them to me cheap!" What a country!.....(c; Las Vegas is nowhere near as much fun as the Pink Sheets.... ================================================== === Larry, I've been reading your postings about the crash of 29, etc. "Brother, Can You Spare a Dime," lyrics by Yip Harburg, music by Jay Gorney (1931) They used to tell me I was building a dream, and so I followed the mob, When there was earth to plow, or guns to bear, I was always there right on the job. They used to tell me I was building a dream, with peace and glory ahead, Why should I be standing in line, just waiting for bread? Once I built a railroad, I made it run, made it race against time. Once I built a railroad; now it's done. Brother, can you spare a dime? Once I built a tower, up to the sun, brick, and rivet, and lime; Once I built a tower, now it's done. Brother, can you spare a dime? Once in khaki suits, gee we looked swell, Full of that Yankee Doodly Dum, Half a million boots went slogging through Hell, And I was the kid with the drum! Say, don't you remember, they called me Al; it was Al all the time. Why don't you remember, I'm your pal? Buddy, can you spare a dime? Once in khaki suits, gee we looked swell, Full of that Yankee Doodly Dum, Half a million boots went slogging through Hell, And I was the kid with the drum! Say, don't you remember, they called me Al; it was Al all the time. Say, don't you remember, I'm your pal? Buddy, can you spare a dime? ===== Makes ya wonder.. the suckers who work, pay the taxes, send their kids off to war, they are us, we will end up paying for this madness. |
#20
posted to rec.boats.cruising
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Go Lehman GO!
"Thomas, Spring Point Light" wrote in
: Makes ya wonder.. the suckers who work, pay the taxes, send their kids off to war, they are us, we will end up paying for this madness. Every time I see someone carrying a baby around, I wonder: How will he travel, without oil? How will he keep from freezing to death? What will he eat, when there's no food? Will he be killed in the think tank's planned genocide to preserve what's left for the moneyed elite? Will he be left on Earth to choke to death as the overlords move off- planet at his expense? Will he find out where Soilent Green comes from? Will he be the first generation to have the red light in his palm signalling his time for euthanasia to save the elite from the rest of us? I believe these are all possible things....for your grandchildren to tackle. George Orwell had the date wrong....not the concept of constant wars to control population and keep the elite in absolute power. Build the gallows on Wall Street. I have quite a que ready to take their turns pulling the handles.....me first....for humanity and that little baby. Money Changers. Hitler identified the problem but got carried away with the solution. The Money Changers don't think the goyum will do it again, or they would have changed their attitudes. Nothing has changed for centuries..... |
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