INITIALISMS: W E A L T H

Friday, August 14, 2009

http://www.getrichslowly.org/blog/2009/08/12/4b-one-key-to-wealth/

How a Haircut Led to a Handy Acronym
Wednesday, 12th August 2009 (by J.D.)

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I came up with a set of questions that I felt would help me really think through purchases – beyond the want or need aspect.

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… but finally I came up with an easy to remember acronym…WEALTH.

* Want or need?

* Ego?

* Add-ons?

* Lifestyle?

* Time?

* Happiness?

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Great contribution!

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FUN: Don’t underestimate Mother Nature!

Friday, August 14, 2009

http://www.impactlab.com/2009/08/13/dogs-in-moscow-master-the-subway-system/

August 13th, 2009 at 4:49 pm
Dogs In Moscow Master The Subway System
in: Alternative Transportation, Animals, Crazy Stuff, Humor

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Biology professor Andrew Poyarkov thinks that stray dogs in Moscow have learned to use the subway to get around the city.

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Amazing!?!

Nothing would surprise me. We have an innate ability to ignore the obvious and the conceit to think we know it all.

I know I don’t. You?

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MONEY: An interesting facet; most will miss it

Friday, August 14, 2009

http://www.lewrockwell.com/north/north742.html

Pink Slip Nation
by Gary North

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The re-sets will not be re-set. The lenders will face walkaways. Not that many home owners have enough savvy to keep paying on the mortgages, on the assumption that the lenders will not foreclose.

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There’s a pearl of wisdom in here.

In an ARM (adjustable rate mortgage), there are times when the interest rate “resets”. Goes higher from the “teaser rate”.

Here’s the gem.

Just ignore the reset.

The bank can’t afford to foreclose. It can’t afford to renegotiate. It’s “hung”.

Payers should just keep paying based on their old schedule. There may be idle threats from the bank. (The smaller your bank the better.)

When does the chicken come home to roost?

I’m not so sure. When this trouble works itself out, interest rates may be lower and the ARM resets back down? When the bank eventually gets shut down and acquired by a bigger bank? When the Ponzi scheme runs out?

When it does go to foreclosure, the homeowner will have a valid argument: precedent. The bank kept cashing my checks, didn’t foreclose, so it — remember my law degree is from the Judge Judy school of law — has accepted a modification!

Very cute! No?

Just ignore the big bad wolf cause he can’t blow very hard!

This may be wrong, but I’m not so sure. I think it’s a very very savvy move. And, costs the homeowner nothing to try.

Comments?

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