patrick.net

The problem with today's economic policies, for every person who loses his job and goes hungry, there's 10 reporters writing about how that person "wasn't going to eat that" anyway.

Nobody is going hungry they are "on a diet".

Nobody is walking as their mode of transportation, they are "saving the Earth".

Nobody is being priced out of buying a house, they are "intentionally renting" then getting evicted for not being able to meet rent increase demand.

Nobody has been unemployed for over a year, they "Dropped out of the job market".

Your negative impact by Obamacare implementation is marginalized by what Obamacare is purported to fix.

But if you must blame someone, then blame the 1%, says Warren Buffet.

...if he's NOT the 1%, then the 1% doesn't exist.

For at least the last 7,000 years or so society has the nasty propensity to envy success e.g. "Do not covet your neighbor's ox". Governments, by that I mean the collective "We the People", might vote for politicians who make us feel better by shifting blame to scapegoats. Governments never blame themselves. Currency crises create scapegoats. Currency crises during the past 2000 years of western civilization have resulted in some unfathomably tragic scapegoats in the form of innocents fed to lions, burned as witches, and sent to ovens.

Quigley says

The best I can do is continue to save my pennies

Have you thought about stock market? I chose that path instead of RE investment, all due to so much uncertainity of housing market in last few years and I have been rewarded heavily, gain is much, much more then the little bit of gains in RE we have seen in last year or two.

I just had a very good friend phone me this morning about his recent trip to Vegas for a class on real estate investment. This friend is in his early 30′s and has a new family, so a small mom and pop potential investor. He mentioned that they are preaching the use of OPM (Other People’s Money) and using 5/1 ARMS with minimal down payments to purchase several homes at a time for the potential appreciation.

We’re both in the same field of work and have known each other for years. I advised him to watch out for people peddling investment strategies to the public, and especially to avoid leveraging himself to purchase properties out of state on what is essentially a gamble. He’s a pretty smart guy, so i’m hoping he heeds my advice. It looks like the scum are back to their old tricks once again unfortunately. Meanwhile I have been stockpiling a nice cash position for when this house of cards all inevitable comes crashing down once again.