Reagan-Thatcher Quotes

I just love people that say it like it is. Here are a couple of their quotes.

Thatcher: The problem with socialism is that you eventually run out of other people's money

Reagan: Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.

Thatcher: If you set out to be liked, you would be prepared to compromise on anything at any time, and you would achieve nothing.

Reagan: Government does not solve problems; it subsidizes them.

Thatcher:Nothing is more obstinate than a fashionable consensus.

Reagan: No government ever voluntarily reduces itself in size. Government programs
, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this earth!

Thatcher:There can be no liberty unless there is economic liberty.

Reagan: Recession is when a neighbor loses his job. Depression is when you lose yours.

Rant of the Year? Or a Wake-Up Call!

Rick Santelli

Someone has finally stood up and said the "Emperor is Naked!".

Rick Santelli is a CNBC Business News on-air editor and reports from the Chicago Board of Trade.

He is a veteran trader and financial executive.

I think he surprised quite a few people when he called (live) some people on the proposed bailouts of people that have made bad financial decisions.

This is well worth watching since he gives very good perspective to a very troubling problem.

Click to view the YouTube video: http://www.youtube.com/watch?v=bEZB4taSEoA

Lighten Up a Bit ;>

Here is one of 8 cartoons I just uploaded to the website.

Click to see the others.

Whoa! Good Guy / Bad Guy - Who Wins?

This is rather amazing!

Using debt to get out of debt? What is wrong with this picture?

OK, let's say I have a bad debt load to begin with. My house is mortgaged to the hilt and I have $20,000 in credit card debt.

My job is at least shaky if not being lost. So to fix this problem I'm going to borrow more money. Sure, that makes sense!

So I borrow $20,000 more to pay my monthly bills so I don't go into bankruptcy. If I use $1,000 to supplement each month to maintain my life style and make no cuts in my outgoing money then in 20 months I am in the same predicament. No not really! Now my monthly debt payment to the $20,000 is added to the already too heavy burden that I had when I started. Uh oh!

We have two faces. A happy face and a sad face. If the sad face isn't here yet, it's on it's way. And the happy face is coming as the real estate investors begin to gobble up the foreclosed homes.

Be patriotic and buy distressed property! Rent a place to those who are losing their home. C'mon, let's all help them have a place to live.

Oh yeah, use EPMoney to fund the deal!

Whine, whine, whine - Get Over It!

New government report reveals some interesting data. At first blush things look pretty bad.

I realize it is hard to read the map, so concentrate on the colors instead.

• States in RED have had a drop in home values -10% to -21%.
• States in MUSTARD had a drop in home values 0% to -10%
• States in LIGHT BLUE had 0% to 5% increase in value.
  

This indicates some pretty bad news. But remember that we are dealing with statistics.

Well you may remember the quote, "There are lies, damn lies - and statistics!"

So where are the lies in this map of the USA? Perhaps we won't acutally find lies, but we will find something that is very misleading.

This map comes from the "Center for Economic and Policy Research". The previous page in the report has some wonderful data. It shows numbers for Utah.

• ........29 = Our National Ranking
• -1/64% = 1-Yr Appreciation
• -1.93% = Qtr's Appreciation
• ...47.7% = 5-Yr Apprciation
• 280.1% = Appreciation Since 1980
  

Now the map isn't so intimidating!

Let's look at what this really means to you and I:

• $189,147 Average price of home in Salt Lake Valley in November 2003
• $277,685 Average price of home in Salt Lake Valley in November 2008.
  

So when you hear people whine, whine, whine.... oh we lost 1.64% in the last 12 months! Then introduce them to a great classic hit from the Eagles.

Have them listen to the song at:

http://www.youtube.com/watch?v=6R85RjD5hnw



God Bless America!

Hard Money - And Jack Takes His Lumps!

A post on Yahoo! Finance brought some swift harsh words.

Jack M. Guttenberg, The Mortgage Professor got raked over the coals for writing an article about Hard Money.

He didn't do that badly for someone not totally familiar with Hard Money. But he go skewered for his efforts. You can read the article at: http://finance.yahoo.com/expert/article/mortgage/120821.

But the real fun comes from reading the comments that it pulled from cyberspace. It is like a group of angry men venting their frustrations.

I don't think they agreed with Jack!

Here are some excerpts from some that should have kept their mouth shut.

"Great Job in writing an article that you have no knowledge about and did NOT even bother doing any research on! Don't you have an editor??"

"Yahoo sensor's all his comments. This a horrible article that serves no purpose."

"Goes to show you what Jack knows...the pendulum has swung from one extreme to the other. There aren't any hard money lenders anymore!"

"Oh, now I know this guy is crazy!!!!! I have been in the Mortgage biz for over 20 years and have been unemployed for 16 months. I am a good hard money loan underwriter. There are no jobs, this guy is a FRAUD!!!! There is NO business !!! No one is lending to ANYONE right now. This old stinking LIAR needs to go back to the retirement home he crawled out of and take a long nap, that is ALL he is good for. For heaven's sake get rid of this guy already, he doesn't even know what time it is!!!!!!!!!"

"Hard money lenders, ha. The MOB must be having a field day right now, they are the true hard money lenders. Maybe I should change occupations, and become a collector for the "hard money lenders". I love to hears the sound of snapping bones in the morning."

"I am going to become a Tahoo expert as I am able to write about things I know nothing about and have no experience with and ask my readers to comment. What a useless POS article."

""I don't have any experience with this market, however, and readers who have taken loans from hard-money lenders are invited to let me know how they did." Dear Jack If this statement is true, why did you write an article about it? Please answer me, if possible. "

OUCH!

Many comments were complimentary though.

Jack admitted not knowing much about this topic. He probably should have left it alone, but he did get some things right.

It's a niche. It works for some on not others. Investors make decisions to use Hard Money because they can show that that will allow them to make money. Investors look at things clearly and say "If the cost of money is $10,000 and I'm going to walk away with $40,000 profit, then I'm in." And therein lies the reason why Hard Money is helpful.

I like the investor's answer, they others don't count.

Can you belive it!

Whoa.

Socialism or capitalism, that seems to be the question.

I listen to talk radio. OK so they are a little radical. But some comments resonate with me. We're all entreprenuers and get only what we work for. So here's a couple of comments from them.

"when we reach a point where the majority of people are getting some kind of government assistance, its over."

"should we really let those on welfare vote? Won't they vote themselves a raise?"

I love capitalism! But that might be because I love to work. It is so invigorating. It is so empowering. It is so self perpetuating. I just love it!

But, some people cannot work and help themselves. I say let's help them. Of course the problem now is who is going to be the 'can they provide for themselves police'.

Let's give them physicals, let's give them psycology workups, let's give them attitude adjustments, let's help with their self esteem, let's lift them to higher ground. Then let's monitor, evaluate, encourage, hold their hand, on and on and on. But let's help them to stand on their own. And lets give them appropriate WORK to do.

The vast majority of people, even those that need help can do something. Let's give them their self esteem back by allowing and requiring that they do some sort of meaningful work and/or service. If we extend a helping hand we are 'paying it forward' and all will benefit.

I believe it is fair to get right in the middle of someone's life and ask tough questions when they will be spending my money. Let's find ways to do it empathetically.

God bless America and the capitalist system!

We are the most ingenious, generous and productive people in the world. Why don't we just go ahead and celebrate this fact!

Have a great day. >;