Disqus - Latest Comments for redherkey

Re: The Silly Season Keeps Congress In Session

redherkey — Sat, 17 Nov 2007 11:02:02 -0000

If the Senate's open, then I expect our Senators to show up for work. Or at least, all of the Republicans with the token 1 or 2 Democrats. My understanding is that the Constitution provides that a simple majority of the Senate constitutes a quorum. Imagine the business we would get done with all but a handful of Democrats present.

And regardless of games, in the real world, when the business is open, you'd better have a good reason for skipping work. No wonder they don't have a freaking clue about what real work is like.

Re: Clinton Wins Support From Another Ethics-Challenged Administration

redherkey — Sat, 24 Nov 2007 11:08:36 -0000

InfoUSA is a truly depressing work environment. As a professional who works in Omaha, I have peers who've worked there and previously worked for a vendor to them. Many of their professionals describe the place as the "Gupta Shrine" or "Gupta Cult." Agreement with Vin is mandatory to your continued employment.

Imagine an outbound telemarketing shop culture, led by executives lacking formal education promoted not for their ability but rather their allegiance to Gupta. In this environment, you can appreciate why they engage in numerous unacceptable activities, such as producing significant volumes of spam for their various products (and enlisting those who request removal from spam lists in additional mailings).

Re: A Market Free Of Consequences Is Not Free

redherkey — Sun, 09 Dec 2007 09:44:40 -0000

As someone who took a 15-year fixed in 2003, we paid more in interest than these ARM people have. By fixing ARM rates, you're locking them permanently at the lower rate, destroying the incentive for fixed rates and impairing both lender and borrower risk management incentives. Increasingly, we're allowing special interests to destroy market processes, distorting rational economic behavior.

Doug Henderson comments that home prices are too high. As a household of two professionals, we too were troubled with west Omaha prices for a "moderate" home at $325,000 (yes, many in other cities are probably laughing). But instead of seeking political favor or other artificial means to lower the market price, we put a manufactured home on farm property far outside of the city. 50 acres and a 2500 square foot house for well less than the inflated Omaha home and 1/4 acre price. We solved the problem by adjusting our expectations, not pleading for government interference.

Furthermore, there are countless houses in the countryside seeking an owner, only requiring someone to put serious effort into fixing them up. Of course, you'll have a long commute or have to telework, and sacrifice having movie theaters, sports arenas and such nearby. Their neglected presence seems to suggest very few who want but lack homes seem to be capable of action without a government handout.

Re: A Market Free Of Consequences Is Not Free

redherkey — Sun, 09 Dec 2007 09:59:59 -0000

Bikerken writes: "I know at least a dozen people who are close friends who are or were working in the housing market as realtors, house flippers, titlers, appraisers, you name it."

Ever time the wife would watch one of those "flip that house" shows, I'd be bothered by nagging thoughts from college finance and economics about the longevity of super-normal profits. Every time, it seemed we'd have a guy buying a house for $200K, adding $50K of slapped-together improvements, and selling it for $650 for a one-month profit of $400K. Keep that up for a year and you've got a decent salary.

Incidentally, it'd be interesting to see what happens to farmland pricing, especially if the ethanol welfare for farmers is curtailed. Even given current grain prices, an acre of row crop land in western Iowa has a payback period of between 25 and 30 years (after seed, apportioned equipment costs, labor, chemicals, fuel). Not many investments would permit waiting nearly 30 years before they got their original money back, without any interest and compounding. This is a serious bubble that hasn't yet popped.

Re: Troopergate Report Under Wraps

redherkey — Fri, 10 Oct 2008 20:22:31 -0000

Jim, You lost 40% of your life's savings thanks to Obama, Chris Dodd, Barney Frank and their minder, George Soros. George needed a rube like Barry to agitate the banks, sue BofA and others to force them to issue loans to losers, and create a credit bubble from hell. George Soros punctured it just like he has against the Bank of England and other unsustainable credit bubbles. Besides giving him many more billions taken from rubes like you, it also keeps the rubes confused and blaming the wrong party.

The more you refuse to figure out who the real culprit is, the more they'll keep kicking you in the rear and taking your wallet. I have no sympathy for people who go through life stubborn, blind and dumb.

Re: Get Ready For More Advertising On Your Cell Phone

redherkey — Sun, 14 Oct 2007 16:16:30 -0000

Lovely... for the past three months, I've had non-stop messages at all hours of the day from a local individual which Verizon has been completely unable to stop. They claim they have no ability to block harassing text messages and can only assign me a new number (something I find extraordinarily unlikely given my experience with message control and compliance responsibilities).

Now Verizon is going to unleash paid-spam which they profit from, and allege they can actually control this once they let it loose? It's remarkable how much they fail to understand their customer.