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Wednesday, May 02, 2007

No, REALLY!

Bill Whittle is back. Seeing The Unseen Part II.

Carl is back. He makes some feeble claim of having been working and broods about Lincoln.

Casey Serin could have explained to Carl how foolish this "working" thing is. According to Casey, Carl is dooming himself to retire in poverty by the working/saving/investing thang. Of course Casey had to borrow money to pay the rent; fortunately he found a sucker to cough it up and has now retreated to Tahoe on a "business trip":
After getting overwhelmed with trying to put together an action plan for the next few months I decided to take a random trip to one of my favorite places: Lake Tahoe. I told my wife I need a change of scenery and some time to think and brainstorm. ...

Now before you get all riled up about my spending. It’s not that far of a drive and I’m staying cheap. The benefit of reaching a breakthrough and resulting burst of productivity for weeks to come will be well worth the small investment. So it’s a business trip.
In a prior post, Casey had mused on how to make a million dollars by being homeless and living in his car. Only his wife seemed to be the obstacle:
In one phrase it would be the ultimate mobile freedom!

But that’s all dreams.

My wife of 3 years would never go for something like that. Yes, I sometimes feel held back by marriage.
I bet occasionally rude words about getting a job are spoken, thus Casey's "held-backness". I post on this because it might prove a useful link for young women awed by feckless dreamers. Their failures will always be your fault! Do yourself a favor and marry a nice, studious, honorable dork or nerd. Then appreciate him. They're better in the sack, too.

Speaking of feckless dreamers, this NY Times article on commercial MBS is worthwhile. The ratings firms are cracking down a bit due to some minor technical details:
“Underwriting has gotten so frothy that we have to take a stand,” said Jim Duca, a group managing director at Moody’s Investors Service. “The industry was heading to Niagara Falls.
...
As was the case in the overheated residential mortgage market, many loans for commercial transactions are interest-only for the first 10 years, with huge balloon payments at the end of the term.
...
Space in Manhattan that was leased a while back for an annual rent of $40 a square foot may reasonably be said to be worth $70 a square foot in today’s market, said Mr. Duca at Moody’s Investors Service. But he said some lenders were now claiming that space that was recently leased for $70 a square foot was actually worth $90 a square foot.
Cash flow is to commercial lending what Debt-To-Income ratio is to consumer lending, and both have been ignored. I bet there will be a lot of good comments on this one up at Calculated Risk.


Comments:
I think you got a great blog!! Thank you for that. I'm definitely going to add u to my favorite :)
I hope you can visit my blog at http://www.mohloans.com/ - MOH Loans and Banking
 
I think you got a great blog!!--still. But I've no intention of either paying rent with a loan or spending 4/hrs per day writing posts. Yet when I scanned you and SC&A last week (when considering returning), I saw detailed and great writing. How does anyone with a job and an S.O. blog? And how does anyone do it as well as many -- such as you two -- do?
 
Oh, yeah, sure. See, you're stuck on that working/saving/investing responsible life thang, which is why you'll never achieve Casey's "ultimate mobile freedom" of living in your car. If I am understanding the "ultimate mobile freedom" right, then a miracle happens and you get a million dollars to write a book.

A lot of what I'm writing about is highly related to my job, so....

I'm really glad you're back, not that I genuinely think that blogging should come before responsibility. Just joking, there.
 
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