The internet screwed up this morning and sent me an email from 5 years in the future:
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Rob Dawg,
Hi, Robert. This is your sister Kaycee. Some guys from the New Bank of America asked me some questions yesterday. They say you are applying for a home loan and since the amount is nearly 50% LTV they need some background information to verify creditworthiness. They wanted to know about your earnings history. I couldn't remember, was your paper route 1969-1972 mon-Sat or 7 days a week? What should I tell them? They showed me some real scary penalties if I lie but I just can't remember.
Kaycee
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If you don't think Casey's nonsense will result in "locking the barn door after the horse has got out" I refer you to the margin requirements to purchase stocks in 1929; 10%.
22 comments:
Amen Brother.
It will be the late 80's early 90's all over again. IMHO, it needs to happen, too.
-jbjbj
one of 2 things could happen:
1) wage inflation to reflect housing price inflation -- "new plateau". Wage inflation leads to increase in prices ("That 70's show")
2)housing drops to meet wages. Wages decline due to housing lead depression, and prices drop further. ("that 30's show")
We have reached "end game". Hyperinflation or deflation. Hank and Ben have to make a choice soon. I suspect #1 (which is easier politically).
Either way, lots of starvation, angry, and hostility. Happy, happy, joy, joy.
http://www.usatoday.com/money/economy/housing/2007-02-19-close-sacramento_x.htm
Probably already posted but I told you guys everyone is doing short sales in CA.
CS
king,
There will most certainly be huge wage inflation along with even more dollar devaluation. In the olden days that would be enough to bail out people with mortgages they cannot afford. -IF- thay have fixed rate mortgages this would work again. The problem is that it is not enough for some or many but near all would need to have fixed rates for this to work. And in this scenario would would be funding these?
Bah - You guys are downers! There are a lot of sweet deals coming, trust me! It's all good....
I posted this on Casey's blog, but I doubt he'll let it through:
""Yes, I did rape her your honor, but I now tell people is wrong to do it, so let off the hook."
See how stupid that sounds?
Frankly, I want you to go to jail because as a 24 year old immigrant that own his own house, your complete lack of resposability for you and idiots like you makes THAT much harder for the silent majority of us who do things the right way to be succesful.
Thank you, asshole."
On another tangent, I really loved Casey's suggestion to Robert that they might strike a deal:
I might consider doing link exchange, etc. Man, we can even do some joint venture stuff, why not? If we can put together a win-win deal I’m open to anything.
Trump would be so proud of him.
And then it's followed by a threat:
I’m actually getting ready to do a massive search-n-replace on his URL in my WordPress DB so that there will be no more Google juice for him.
I'm sure you're worried, Robert. After all, it's not like Casey has anything more important to do.
I especially like this passage:
t’s too bad some of the fun “hater” characters are still boycotting this blog. I miss some of those guys. That’s OK, that will make room for new ones to come.
By the way… as you can see my traffic was not affected much. However, it’s hard to tell really with all the inbound links and media exposure that happen from time to time. It seem though, that the “hater” crowd is small (but very vocal). Many of those characters is really one person posting under different names. I guess if I cared more I would check the IP and figure out how many total “haters” there are.
How noble he is. I for one am not breaking my boycott. I see many of you have; but I don't want to give him the pleasure.
haters have been replaced by law enforcement, lenders...
There is also:
"I actually don’t have the time to look for this stuff and I rarely visit the hater sites."
LOL - Casey lie #237,453 - I am quite sure that Casey obessively logs into this blog frequently, to keep track of his precious reputation.
Sauron will treat you well, my little hobbit...
Re: Dollar devaluation
Any ideas on how to open a foreign bank account and make regular (e.g., monthly) transfers into it, without incurring a ton of currency exchange fees?
"How noble he is. I for one am not breaking my boycott. I see many of you have; but I don't want to give him the pleasure."
I'm not boycotting any more. That would mean that I'm refraining from posting in order to make a point or to exert pressure. That might have been the case at one point, but these days I don't post because I just don't have anything to say to Casey.
At this point, I'm more interested in the related issues that come up than in Casey per se. When I do have something to say about him, I'd rather say it in front of his back than to his face.
everbank.com
Even if you don't use thewm, their web site gives a good primer.
Wage inflation. What would drive this? Prospective employees holding out for bigger salaries? I don't think many businesses will just come up with increased pay packages because their employees made bad financial decisions. Can someone please clarify that for me? If I had to pick one of the two scenarios I think I'd bet on housing prices pushing wages lower.
The boycott worked. Ogg is right, there's very little work commenting upon. Barely anything worth reading until something happens. There's lots I'd like to know like Res-Com and appraisal insider bits but we aren't going to get those answers on his blog. I'm adding a link on the sidebar later today not in any exchange agreement but just to make the issue go away. I am honestly unwilling to be associated. The deep pockets lawyers are unbelieveable in their pursuit of any hint of liability for even the most tangential coincidence.
As far as I am concerned, read and/orpost if you get pleasure from it but there's also pleasure in watching a weed wilt in the spotlight without any nourishment.
Wage inflation. What would drive this?
Pesodollars. Think 1975.
That’s OK, that will make room for new ones to come.
Well, he was right: comments on his last two posts have been overwhelmingly negative from haters old and new.
I think he's cycling back down from sweet deal fantasyland through pouty defiance on his way to woe-is-me depression. And here's what might drive it:
CashCall… oh they’re definitely after me now. Phone calls and emails almost daily. [...] I’m thinking I will try talking to them and see if we can use a little reason.
Yes, that'll work; CashCall have a reputation for being reasonable with deadbeats.
"Oh, look, yeah, I'm gonna pay you guys back. I just can't do it right now. But I have some S W E E T deals coming and I'm going to pay you back every dirty penny; integrity is very important to me."
Casey's real punishment may well come from Cashcall. They will make his life miserable until he declares bankruptcy or pays them back. Given the default rate on a CC loan, bankruptcy is his only way out. If he thinks his army of dedicated "haters" is stalking his family now, wait until CC sinks their hooks in.
He's dealing with some real predators here. I wouldn't wish them on anyone.
Can't take credit for this ... someone else posted it over at IAFF. But after reading it, NOW I can see how the little cretin could actually end up doing JAIL time:
http://www.irs.gov/compliance/enforcement/article/0,,id=162992,00.html
NO SOUP for YOU, Casey!
I just have to tell Cashcall that I will pay back every dirty cent! Yeah, that's the ticket! Maybe I can let them know about some sweet deals. That would be awesome if they wanted a stake in my new corporation.
re : segfault
Foreign banks - If you mean truly a foreign bank ( as in making sure the government doesn't get their mitts on it in extremis) then I can't help you - I kept mine from the UK when I moved so never researched how to do it..
If you just want to protect against a dollar dump then:
1. Everbank does foreign currency accounts - various currencies available.. usual site www.everbank.com I have a Euro CD there.
2. You can buy foreign currency ETFs from your brokerage account. I own FXE which is Euros. no interest of course - so its like a current account that cost you 20 bucks or so for a round trip ( 10 to buy 10 to sell out when you do sell out). Other currency etfs exist for UKpound,Swiss Franc, Swedish Kroner(krona?).
3. I read that Etrade will let you buy stock on foreign stock exchanges shortly..
-K
The "Viking" basket at Everbank looks mighty tempting. 2.13% yield, made up of; Swedish krona 30%, Danish krone 30% and Norwegian krone 40%. Noticeably absent is the Icelandic krona with a current 13.38% rate. $20k minimum but ahhh the potential for exchange returns.
Everbank: http://tinyurl.com/7nn3z
Iceland background: http://tinyurl.com/3a7yzy
SEK: http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=SEK&submit=Convert
DKK: http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=DKK&submit=Convert
NOK: http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=NOK&submit=Convert
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