Miscellaneous Discussion Thread II
Quote: rxwine
It may be a concept car.
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It's a concept car. It even says it on the "license plate" in the last picture you posted.
Quote: MrVQuote: DRich
Oh, keep broadcasting the Rose Parade, but also give the Mummers more airplay than they receive.
It is broadcast locally but deserves a national audience: it is just so unique.
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I think the problem is it is in Philadelphia. There is a reason why Northeast cities don't have New Years Parade.
I've seen mummers in a few NYC parades, but it's usually a single squad, not a steady two-hour display.
Anyway, if you can get it on the ballot, I'm in favor of giving them a national broadcast.
Quote: MrVQuote: DRich
Oh, keep broadcasting the Rose Parade, but also give the Mummers more airplay than they receive.
It is broadcast locally but deserves a national audience: it is just so unique.
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I think the problem is it is in Philadelphia. There is a reason why Northeast cities don't have New Years Parade.
I've seen mummers in a few NYC parades, but it's usually a single squad, not a steady two-hour display.
Anyway, if you can get it on the ballot, I'm in favor of giving them a national broadcast.
Quote: DRich
The Rose parade is the only one that I seem to tune into. I just like the creativity of the floats.
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Do you lay on the couch with a pile of beef jerky while you watch?
Quote: EvenBobQuote: DRich
The Rose parade is the only one that I seem to tune into. I just like the creativity of the floats.
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Do you lay on the couch with a pile of beef jerky while you watch?
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Yes, jerky and cheese puffs. No the couch though. I probably have been on my couch less than 3 hours in the last year. I am always at my desk or most often just laying in bed watching TV. If I am not working, I am in bed.
Quote: DRichI read an article today saying that to be considered wealthy in the U.S. they have determined a net worth of $2.2 million qualifies Obviously it is subjective but that was just about the area that I would have placed it..
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Depends on your point of view. I read that the average African considers the average African-American to be wealthy no matter what their social standing. Even the poorest African Americans almost always have an air conditioner, a microwave, a refrigerator, a color TV, and quite often a car. The average African has none of those and would be considered wealthy if he did.
Quote: DRichI read an article today saying that to be considered wealthy in the U.S. they have determined a net worth of $2.2 million qualifies Obviously it is subjective but that was just about the area that I would have placed it..
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I'd think two million is too little, but it depends on where you live. In Tucson, that is serious money. On the Coasts, not so much.
Quote: billryanQuote: DRichI read an article today saying that to be considered wealthy in the U.S. they have determined a net worth of $2.2 million qualifies Obviously it is subjective but that was just about the area that I would have placed it..
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I'd think two million is too little, but it depends on where you live. In Tucson, that is serious money. On the Coasts, not so much.
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I don't think location is relevant. Obviously if you had a net worth of $2.2 million in New York you could move somewhere else. Obviously this is just an average of what they think is wealthy. I think $2.2 is a pretty good number. This was based on a Charles Schwab study.
Quote: DRichI read an article today saying that to be considered wealthy in the U.S. they have determined a net worth of $2.2 million qualifies Obviously it is subjective but that was just about the area that I would have placed it..
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That would be a number where you could live in comfort for life. You could draw a bit over $10000 per month. That is "well" but does not mean you can live like a hog in the fat house forever. You are not going to feel you are living well in our most expensive cities. You will feel just better than average in SF or NYC. You can have nice vacations but not going to live on the cruise ship.
I can see lots of people on that level feeding hundreds of bucks a day to the slots.
a Russian man flew from Copenhagen to LAX in the U.S. with no passport, visa or boarding pass
the passenger seemed confused and doesn't know how he did it - got thru Copenhagen security and on to the plane
U.S. Customs is confused too
they don't know how he did it either
the man wasn't in the CBP system at all - something one of their officers said they had never before encountered
https://ktla.com/news/local-news/lax-passenger-arrives-on-international-flight-without-passport-visa-ticket-report-says/
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Quote: lilredrooster.
a Russian man flew from Copenhagen to LAX in the U.S. with no passport, visa or boarding pass
the passenger seemed confused and doesn't know how he did it - got thru Copenhagen security and on to the plane
U.S. Customs is confused too
they don't know how he did it either
the man wasn't in the CBP system at all - something one of their officers said they had never before encountered
https://ktla.com/news/local-news/lax-passenger-arrives-on-international-flight-without-passport-visa-ticket-report-says/
.
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Cameras in the terminals would reveal the mystery if they wanted to know. I think the only place would be at the plane door where there wouldn't be a camera pointed at it.
Triple or quadruple security checks, if manned by people always are somewhat insecure. People are unable to maintain concentration for all those hours no matter if you overpaid them x 10.
Don't get me wrong. That money is great and enough to live a nice upper-middle-class lifestyle, but you aren't rich and certainly not wealthy. To me, wealth is generational.
Don't get me wrong. That money is great and enough to live a nice upper-middle-class lifestyle, but you aren't rich and certainly not wealthy. To me, wealth is generational.
Quote: billryanIf you got a ten percent return on 2.2 million, you'd get two hundred and twenty thousand before taxes. There are many places in USofA where an annual income of two hundred thousand plus Social Security doesn't make you wealthy.
To me that analogy is terrible. That is like saying that even though I have a $60 million net worth I am not wealthy because I couldn't even buy one Gulfstream Jet (G750). How about just buy a Schwinn and you will still be wealthy.
I do agree that making $220,000 doesn't make one wealthy but I think $2.2 million in the bank does. Obviously it all comes down to interpretation. I think if your net worth is more than 98% of the population I would consider that wealthy.
Quote: DRichQuote: billryanIf you got a ten percent return on 2.2 million, you'd get two hundred and twenty thousand before taxes. There are many places in USofA where an annual income of two hundred thousand plus Social Security doesn't make you wealthy.
To me that analogy is terrible. That is like saying that even though I have a $60 million net worth I am not wealthy because I couldn't even buy one Gulfstream Jet (G750). How about just buy a Schwinn and you will still be wealthy.
I do agree that making $220,000 doesn't make one wealthy but I think $2.2 million in the bank does. Obviously it all comes down to interpretation. I think if your net worth is more than 98% of the population I would consider that wealthy.
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Move to NYC. Buy an apartment in a trendy part of Manhattan and a summer house in the Hamptons. Your two million will be gone and you'll have two mortgages. You'll be like every shrub on Wall Street.
My numbers are slightly different than yours, with 9.65% of US households having two million of more in net worth. Would you say ten percent of Americans are wealthy? I wouldn't. My unscientific estimate would be wealthy families are less than one in a hundred.
Wealth isn't about owning a G-5. Wealth is being about to rent one on a whim.
Quote: billryanIf you got a ten percent return on 2.2 million, you'd get two hundred and twenty thousand before taxes. There are many places in USofA where an annual income of two hundred thousand plus Social Security doesn't make you wealthy. Well off, but no place near wealthy. I knew plenty of broke people making two hundred grand in NYC. That kind of money won't even get you an interview in many co-ops, or an elite Manhattan school
Don't get me wrong. That money is great and enough to live a nice upper-middle-class lifestyle, but you aren't rich and certainly not wealthy. To me, wealth is generational.
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Avoiding co-ops is a good thing. No, a great thing. Worst way to buy real estate I can think of other than maybe timeshares.
Quote: billryan
Move to NYC. Buy an apartment in a trendy part of Manhattan and a summer house in the Hamptons. Your two million will be gone and you'll have two mortgages. You'll be like every shrub on Wall Street.
My numbers are slightly different than yours, with 9.65% of US households having two million of more in net worth. Would you say ten percent of Americans are wealthy? I wouldn't. My unscientific estimate would be wealthy families are less than one in a hundred.
Wealth isn't about owning a G-5. Wealth is being about to rent one on a whim.
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Again, your comment is terrible. If that person buys a modest house in the middle of Kentucky they will still have $2.1 million and be wealthy. Just because people are stupid doesn't mean they aren't wealthy.
According to the Washington Post "Only about 3.5 percent of all U.S. households are in the million-dollar net worth league."
Quote: DRichQuote: billryan
Move to NYC. Buy an apartment in a trendy part of Manhattan and a summer house in the Hamptons. Your two million will be gone and you'll have two mortgages. You'll be like every shrub on Wall Street.
My numbers are slightly different than yours, with 9.65% of US households having two million of more in net worth. Would you say ten percent of Americans are wealthy? I wouldn't. My unscientific estimate would be wealthy families are less than one in a hundred.
Wealth isn't about owning a G-5. Wealth is being about to rent one on a whim.
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Again, your comment is terrible. If that person buys a modest house in the middle of Kentucky they will still have $2.1 million and be wealthy. Just because people are stupid doesn't mean they aren't wealthy.
According to the Washington Post "Only about 3.5 percent of all U.S. households are in the million-dollar net worth league."
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You keep comparing apples and oranges. Eight percent of houses sold in the last three years are a million dollar plus.
Wealth is self-sustaining.
Quote: billryanQuote: DRichQuote: billryan
Move to NYC. Buy an apartment in a trendy part of Manhattan and a summer house in the Hamptons. Your two million will be gone and you'll have two mortgages. You'll be like every shrub on Wall Street.
My numbers are slightly different than yours, with 9.65% of US households having two million of more in net worth. Would you say ten percent of Americans are wealthy? I wouldn't. My unscientific estimate would be wealthy families are less than one in a hundred.
Wealth isn't about owning a G-5. Wealth is being about to rent one on a whim.
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Again, your comment is terrible. If that person buys a modest house in the middle of Kentucky they will still have $2.1 million and be wealthy. Just because people are stupid doesn't mean they aren't wealthy.
According to the Washington Post "Only about 3.5 percent of all U.S. households are in the million-dollar net worth league."
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You keep comparing apples and oranges. Eight percent of houses sold in the last three years are a million dollar plus.
Wealth is self-sustaining.
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Yes, and probably over 90% of those have mortgages. Just people borrowing and spending money foolishly. Even if you spend $500k on a house and a car you still have$1.7 liquid and a net worth still of $2.2 You are wealthy by American standards.
In the 80s I'd be upset. Today it is a big who cares. But kind of amazing how over the generations what was once the first billion dollar company sold for less in inflation adjusted terms than it was worth in 1900.
The seeds for its collapse were planted in 1959. Business schools should case study what happened.
Quote: rxwineWalked in a store selling LP's today. Reprints of bestsellers from 60's, 70's, 80;s. $27 was minimum price. I can't remember what I paid for the last "Direct to Disc" master I bought several years ago, but I'm pretty sure it wasn't that much.
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Adjusted for inflation, new LPs are about as expensive now as they were in the late '70s. (Actually they're a tiny bit cheaper.)
Quote: billryan
You keep comparing apples and oranges. Eight percent of houses sold in the last three years are a million dollar plus.
Wealth is self-sustaining.
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$2.2 million is easily self-sustaining in an LCOL to MCOL area. If someone handed you $2.2mm at the age of 18, you would never have to work another day in your life.
Quote: TigerWuQuote: rxwineWalked in a store selling LP's today. Reprints of bestsellers from 60's, 70's, 80;s. $27 was minimum price. I can't remember what I paid for the last "Direct to Disc" master I bought several years ago, but I'm pretty sure it wasn't that much.
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Adjusted for inflation, new LPs are about as expensive now as they were in the late '70s. (Actually they're a tiny bit cheaper.)
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I remember them being 13 for $.01
Quote: TigerWuQuote: billryan
You keep comparing apples and oranges. Eight percent of houses sold in the last three years are a million dollar plus.
Wealth is self-sustaining.
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$2.2 million is easily self-sustaining in an LCOL to MCOL area. If someone handed you $2.2mm at the age of 18, you would never have to work another day in your life.
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In my case, at the age of 18, that would have been true. The hookers and cocaine would have killed me before I went broke.
Quote: TigerWuQuote: billryan
You keep comparing apples and oranges. Eight percent of houses sold in the last three years are a million dollar plus.
Wealth is self-sustaining.
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$2.2 million is easily self-sustaining in an LCOL to MCOL area. If someone handed you $2.2mm at the age of 18, you would never have to work another day in your life.
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This is a very personal decision. I’m not a super high flyer, but no way I live off of just $2.2 million without another source of income unless I totally change my lifestyle. Safe ncome from that (now!) is around $100k, taxable! Heck, a good family health insurance plan is over $20k a year if you don’t qualify for the government subsidizing it.
Quote: TigerWu
Adjusted for inflation, new LPs are about as expensive now as they were in the late '70s. (Actually they're a tiny bit cheaper.)
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1975 was about the last year I bought an LP. Going through my collection there's none that date any later than that. I haven't played them in 40 years haven't had anything to play them on in 30 years or more.
Quote: DRich
In my case, at the age of 18, that would have been true. The hookers and cocaine would have killed me before I went broke.
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In my lifetime I've known three people that inherited half a million dollars at age 18. One was a friend of mine when we were both 18 and the other two were much much later. In all three cases by the time they were 19 all the money was gone and they were in debt. They spent the money like they inherited 50 million dollars and there was no end to it. It was really amazing to watch, two males and a female unrelated to each other, and they all went out of their minds berserk on a spending spree when they got the money. To this day all three of them blame the adults around them for letting them do it, but believe me, they did try and stop them and it was like trying to stop a runaway train. Impossible to do.
Quote: EvenBobQuote: DRich
In my case, at the age of 18, that would have been true. The hookers and cocaine would have killed me before I went broke.
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In my lifetime I've known three people that inherited half a million dollars at age 18. One was a friend of mine when we were both 18 and the other two were much much later. In all three cases by the time they were 19 all the money was gone and they were in debt. They spent the money like they inherited 50 million dollars and there was no end to it. It was really amazing to watch, two males and a female unrelated to each other, and they all went out of their minds berserk on a spending spree when they got the money. To this day all three of them blame the adults around them for letting them do it, but believe me, they did try and stop them and it was like trying to stop a runaway train. Impossible to do.
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I remember a radio call to Dave Ramsey or some show. Woman had a kid about 15 was going to inherit over a million at 18 and then more at 21 or something. She was scared to death for him knowing that kind of behavior would happen. She wanted to stop it but was told how he would be an adult and that was that. But was told to teach him to manage things.
Quote: EvenBobQuote: DRich
In my case, at the age of 18, that would have been true. The hookers and cocaine would have killed me before I went broke.
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In my lifetime I've known three people that inherited half a million dollars at age 18. One was a friend of mine when we were both 18 and the other two were much much later. In all three cases by the time they were 19 all the money was gone and they were in debt. They spent the money like they inherited 50 million dollars and there was no end to it. It was really amazing to watch, two males and a female unrelated to each other, and they all went out of their minds berserk on a spending spree when they got the money. To this day all three of them blame the adults around them for letting them do it, but believe me, they did try and stop them and it was like trying to stop a runaway train. Impossible to do.
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Most people don't know that when Elon Musk was 49 years old, 3 years ago, he was only worth $24 billion dollars. And three years later, today, he's worth $254 billion dollars. In 3 years time he went from being just another billionaire to being the richest person in the world. He has said that the vast majority of people in the world could not manage that much money effectively. I suspect he's correct..
Quote: EvenBob. He has said that the vast majority of people in the world could not manage that much money effectively. I suspect he's correct..
Many would say that his $50 billion investment in twitter proves he can't manage it well either.
Quote: DRich.
Many would say that his $50 billion investment in twitter proves he can't manage it well either.
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Why, because it did not immediately start to make money? Ever heard of a long-term investment? Look at it again in 5 years and tell me it was a bad investment. Look at Tesla. In 2018 it was going so badly Elon Musk tried to sell it and look at it today. It's the most valuable car company in the world and one of the world's most valuable companies. And it was all done on word of mouth, Tesla does not advertise. Imagine what it's going to do when they do start advertising. So don't worry about Twitter, it also will be one of the most valuable companies in the world.
Quote: SOOPOOQuote: TigerWuQuote: billryan
You keep comparing apples and oranges. Eight percent of houses sold in the last three years are a million dollar plus.
Wealth is self-sustaining.
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$2.2 million is easily self-sustaining in an LCOL to MCOL area. If someone handed you $2.2mm at the age of 18, you would never have to work another day in your life.
link to original post
This is a very personal decision. I’m not a super high flyer, but no way I live off of just $2.2 million without another source of income unless I totally change my lifestyle. Safe ncome from that (now!) is around $100k, taxable! Heck, a good family health insurance plan is over $20k a year if you don’t qualify for the government subsidizing it.
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I'd say $2.2 million is a dicey amount to retire on for a young person with, say, 5 decades to live. The rule of thumb is to take 4% per year the first year if you have decades to live. You can do the math and see such a person would have to live simply [obviously possible, and obviously live better than many do]. In later years you can take an increasing percentage, but this just keeps up with inflation in a conservative view.
It's certainly plenty for a 65 y.o. with no need for more than $100,000 a year to live on. Medicare and SS will be assisting. Note that $1 million is not so certain, though. Multi-millions is the place to be for up and coming retirees IMO
Quote: EvenBobQuote: DRich.
Many would say that his $50 billion investment in twitter proves he can't manage it well either.
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Why, because it did not immediately start to make money? Ever heard of a long-term investment? Look at it again in 5 years and tell me it was a bad investment. Look at Tesla. In 2018 it was going so badly Elon Musk tried to sell it and look at it today. It's the most valuable car company in the world and one of the world's most valuable companies. And it was all done on word of mouth, Tesla does not advertise. Imagine what it's going to do when they do start advertising. So don't worry about Twitter, it also will be one of the most valuable companies in the world.
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The Tesla customer base borders on a cult. I said about 2-3 years ago that we will soon see if people want EVs or want Teslas. It has been the later for the most part. The stock valuation makes no sense. But the believers seem to keep thinking it does.
Quote: EvenBobWhy, because it did not immediately start to make money? Ever heard of a long-term investment? Look at it again in 5 years and tell me it was a bad investment. Look at Tesla. In 2018 it was going so badly Elon Musk tried to sell it and look at it today. It's the most valuable car company in the world and one of the world's most valuable companies. And it was all done on word of mouth, Tesla does not advertise. Imagine what it's going to do when they do start advertising. So don't worry about Twitter, it also will be one of the most valuable companies in the world.
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If you can't effectively manage $100,000, or $1,000,000, or even $10,000,000, you'll go broke pretty quickly. But if you have $250,000,000,000, you can screw up A LOT, over and over and over again, and no one will know the difference. Elon is a walking trainwreck, but because he has effectively infinite money, he still appears successful.
Quote: TigerWuQuote: EvenBobWhy, because it did not immediately start to make money? Ever heard of a long-term investment? Look at it again in 5 years and tell me it was a bad investment. Look at Tesla. In 2018 it was going so badly Elon Musk tried to sell it and look at it today. It's the most valuable car company in the world and one of the world's most valuable companies. And it was all done on word of mouth, Tesla does not advertise. Imagine what it's going to do when they do start advertising. So don't worry about Twitter, it also will be one of the most valuable companies in the world.
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If you can't effectively manage $100,000, or $1,000,000, or even $10,000,000, you'll go broke pretty quickly. But if you have $250,000,000,000, you can screw up A LOT, over and over and over again, and no one will know the difference. Elon is a walking trainwreck, but because he has effectively infinite money, he still appears successful.
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Yes, he is lucky someone keeps handing him all that money.
I keep reading about how he has lost all this money on twitter. Someone will have to explain that as the stock is pretty much right where he bought it.
Quote: billryanQuote: TigerWuQuote: EvenBobWhy, because it did not immediately start to make money? Ever heard of a long-term investment? Look at it again in 5 years and tell me it was a bad investment. Look at Tesla. In 2018 it was going so badly Elon Musk tried to sell it and look at it today. It's the most valuable car company in the world and one of the world's most valuable companies. And it was all done on word of mouth, Tesla does not advertise. Imagine what it's going to do when they do start advertising. So don't worry about Twitter, it also will be one of the most valuable companies in the world.
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If you can't effectively manage $100,000, or $1,000,000, or even $10,000,000, you'll go broke pretty quickly. But if you have $250,000,000,000, you can screw up A LOT, over and over and over again, and no one will know the difference. Elon is a walking trainwreck, but because he has effectively infinite money, he still appears successful.
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Yes, he is lucky someone keeps handing him all that money.
I keep reading about how he has lost all this money on twitter. Someone will have to explain that as the stock is pretty much right where he bought it.
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How do you know the price of Twitter stock? Elon took it private and as far as I know, no one is making a market in it.
Quote: TigerWuElon is a walking trainwreck, but because he has effectively infinite money, he still appears successful.
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One of the most ridiculous statements I've ever seen. You act like he's had 250 billion dollars for 30 years, when 3 years ago he was worth 24 billion. Reliable estimates put SpaceX value by 2030 at 500 billion. They put the Boring Company at 1 trillion dollars in value by 2030. Conservative estimates put Tesla's stock at $1,000 a share by 2030. Some say $1,500 to $2,000. And nobody knows yet about Twitter but given Eon's track record he never gives up, so it also will be worth God knows how much. So much for the train wreck... LOL
Quote: AZDuffman
The Tesla customer base borders on a cult.
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Ever own a motorcycle, remember how you felt about it? That's how people feel about their Tesla's. Driving them is the same kind of feeling you get having a motorcycle. It's the speed thing, the new cybertruck will do 0 to 60 in 2 seconds. I only know one Tesla owner and he wants to be buried in it. Like a good motorcycle it's fun to drive every single time. Somehow musk knew this and that was his goal from the start. Speed. Joe Rogan talks about owning a Tesla like it's a religious experience.
Quote: EvenBobQuote: AZDuffman
The Tesla customer base borders on a cult.
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Ever own a motorcycle, remember how you felt about it? That's how people feel about their Tesla's. Driving them is the same kind of feeling you get having a motorcycle. It's the speed thing, the new cybertruck will do 0 to 60 in 2 seconds. I only know one Tesla owner and he wants to be buried in it. Like a good motorcycle it's fun to drive every single time. Somehow musk knew this and that was his goal from the start. Speed. Joe Rogan talks about owning a Tesla like it's a religious experience.
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Tesla's market share fell to 50% from the 62% it had in the first quarter of 2023
Tesla is facing new and tougher competition
there are reports that some would be buyers are turned off by Musk and his antics on Twitter
https://www.cnbc.com/2023/10/12/us-electric-vehicle-sales-hit-record-high-tesla-loses-market-share-report.html
https://www.businessinsider.com/elon-musk-twitter-antics-causing-tesla-owners-ditch-car-brand-2023-1#:~:text=Tesla%20owners%20say%20Musk's%20antics,to%20run%20rampant%20on%20Twitter.
.
Quote: EvenBobQuote: TigerWuElon is a walking trainwreck, but because he has effectively infinite money, he still appears successful.
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One of the most ridiculous statements I've ever seen. You act like he's had 250 billion dollars for 30 years, when 3 years ago he was worth 24 billion. Reliable estimates put SpaceX value by 2030 at 500 billion. They put the Boring Company at 1 trillion dollars in value by 2030. Conservative estimates put Tesla's stock at $1,000 a share by 2030. Some say $1,500 to $2,000. And nobody knows yet about Twitter but given Eon's track record he never gives up, so it also will be worth God knows how much. So much for the train wreck... LOL
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Thanks for agreeing with me that he has effectively infinite money. He is still a POS human being.
