bills_fan

Chef, its not exactly "my plan" and I admit it has a lot of holes. Also, I don't necessarily think its a good idea. You raise a good point that I raise in my original post, regarding lack of liquidity later on. But as far as solutions to the current problem, this one is as good as any I've heard recently. It brings with it many other problems, but it does address the root cause of the current problem...falling housing prices.

I really could not say anything better than this guy did... http://www.minyanville.com/articles/Bernan...n/index/a/19357

Again, depends on your horizon. For my 401(k), and my son's 529, we're just buying stocks on sale. But the horizon is 15+ years. If you planned to buy a home and live in it for 10+ years, yeah, go for it. Otherwise, it may not be worth it. Personally, I'd do it, if I could get close to my purchase price on my current place. This would be to accomodate my expanding family (and have room for Mom). Live there 15 or so years until I could swing the Bud Foxian place in the city I always wanted.

The problem is this solution may be far worse down the line. If the problem is falling home prices, leading to the mortgage securities falling in value (and being unattractive to the $3 trillion in private equity on the sidelines) then we need to either prop up prices or allow this deleveraging/price discovery process continue. The only way I can see housing prices propping up is if Americans are permitted to invest a percentage (25%, 50%, 100%?) of their 401(k)s, tax-free, into their homes. You could tap those assets for use in down payments, tax-free which would stabilize the housing market and get private equity off the sidelines. The banks would start lending again and away we go. I can also see this picking up a populist twist..."Why give Wall Street all you retirement money to put in stockjs and bonds when you could put it into your home." Now, I'm not advocating for this plan, I think it brings inflation, a second housing/credit bubble and long term liquidity problems for individuals asthey try to tap the resources in their homes for retirement. But it could work...at least short term.

Usually the PPT is a bit more subtle than pulling that kind of rabbit from its hat.

Step 1 to recovery... http://www.cnbc.com/id/27044623

I agree with many of your points. Every team has a clunker and runs into a red hot QB. That said, some of the dfense calls were baffling. And the O-line must play better. Trent needs to get healthy...fast. Finally, I'm loving SD....they host the Pats*, in a game they will be sky high for. Then they have to come to the rough Buff, in what can only be described as a trap game for SD. We have a two weeks to rest and prepare. I expect our best effort of the season against SD, who will be coming off the emotional high of smoking the Pats*. 5-1, before we hit the division meatgrinder...say we come out of that with 2/3...7-2 and head toward the AFC East title!! My optimism is still sky high!

Hey Jay... Can you post a review of it when you actually receive it? I've been thinking about a current player throwback myself and would love to know your reaction to this one. If you really like it, I may seek out that seller as well. Thanks.

I don't think Obama has to do a damn thing. McCain was gifted an opportunity with the economy and he fumbled. Game, set, match. Now, imagine what the election would be like if McCain had chose Mike Bloomberg as his VP. McCain could roll out Bloomberg on any economic issue, sit back and watch Bloomberg tear all of them a new ****. Missed opportunities....

Do you define creating a regulatory structure for the CDS market as extraordinary intervention?

Definately by 12 for a 1 pm game.

McFaddens is more fun, but get there early if you want to get in. Calicos is more relaxed, far easier to get a table, but still a good time.

True, prices rise. But you also make improvements. I have done new bathrooms/kitchens/floors/paint in every place I have owned. I figured out how to do it myself, working from one of those books you buy at home depot on the weekends. I never put expensive stuff in, but was able to put new stuff that was nice in the places. That helped the re-sale value a lot.

And once I am in a place that I plan to stay in for a while, that would be a great idea. As is, I just follow the Jeffersons motto...movin' on up!

Berkshire Hathaway's holdings are made public every year/quarter via filings with the SEC. The filings are easily searchable on the EDGAR database. Also, Buffet's moves are usually reported in the news.

I don't necessarily agree about buying property. I used my first year-end bonus ($7,500), plus what I had saved (not including 401K savings) as a down payment on a tiny little studio apartment in Hoboken NJ. It was about 300 square feet. I was able to get tax deductions and build equity. I sold it just over three years later and made enough to put a down payment on a small one bedroom on the UES. I just kept trading up from there. I'm on my 5th place right now. I think buying something modest and trading up is a very good way to go.

I once knew a guy who played the market. All he did was whatever Warren did. Didn't know squat. Went out drinking every night, played hoops at lunch and left at 6. But he followed St. Warren. The rest of us worked our tails off trying to figure it all out. He beat us at the end of the year. Bigger bonus, made more cash for his clients. Never told them he was following St. Warren...but they loved him.

and cnbc...some really good stuff here. Warren Buffet Interview I love him...even in the darkest days...still an optimist!!

Anyone suprising in the 25 or Hillary/Schumer?

Senate votes in 15 minutes, House likely on Friday.

A savings account...no. But a really safe bond..yes. TIPS

She certainly does not sound "rich" to me. She sounds like her and her husband are doing what they can to get by...just like many of the rest of us. http://news.yahoo.com/s/ap/20081001/ap_on_...palins_finances

I knew I liked you!

See, now in NYC, $215k with 5 kids....thats definately middle class. But according to Obama, she's about 35k away from being "rich" and should be taxed accordingly, when in NYC she would be hard-pressed to own a home big enough for those kids. And Biden says she should be patriotic and pay. No friggin clue.

Easiest district in the country to steal for the GOP...something like "He voted against your job, will you vote for his?"