2011 Off topic thread(basketball,movies,etc whatever)

[trotterz]

Trotterz, you leave risk completely out of your equation. But it is worth noting. If in that 36 month window you lose income or your cash cushion (job loss, medical issue), you will get royally fucked in the behind on that 0% interest deal. Where there is risk, there must be adequate reward.

As to billionaires using CC, I don't know if that is the case or not. BUt if it is, they would have much less risk that you or I would (and definitely less than poopoo would). So the scenario is entirely different. That is like saying you should buy a private jet regardless of income or means... billionaires do it, so it must be a wise financial decision.

Scientist,
As I stated, it is only IF you have the money right now to pay for it. you can't buy somthing that you don't have the money for right now, assuming that in 1 month you should have the money, that is defenetely not safe.
I am taking the examples of expenses that you already have the money for it.
And cc doesn,t work for everybody, you have to take a look at your numbers pretty ofter to be sure that everything is going well, that you are respecting the deadlines for your monthly payment, blablabla. I would defenetrely give more examples or more ways to save some money if you know how to manage your money well, but my english is probably just not good enough to explain everything.

[trotterz]

I have a rate of 2.85% right now for my house. Rates are pretty low right now

[sbjj]

Trotterz, did you hear about all the people that were buying the $1 coins from the mint(free shipping) and then depositing the coins in their bank and paying off their cards. People were racking up major frequent flyer miles at 0 cost to themselves.

[sbjj]

I have a rate of 2.85% right now for my house. Rates are pretty low right now

What? Is that a 10yr.

[trotterz]

What? Is that a 10yr.

maximum you can get in Canada was 5 years a couple years ago.
I would love to be able to sign for 15 years but it is not an option over here.

As for your trick for points, I had never heard of it. There is a couples tricks here and there.
There is a gold card that you could get for airmiles points. getting 500 points when you were ordering it. the yearly cost are 75$ thought, but the first year was free.
I ordered one, received 500 points. cancelled the card a couple weeks later.
Ordered a new one, received 500 points again, cancelled it later.
I did that 3 times, without them noticing anything.
I also used to buy some expensive stuff ... around let's say 2000 3000$ with my credit card, at a store when I knew a guy. When I was receiving my montlhy cc statement they were giving me points for my expenses, after that I was returning the purchase to get my money back.
Nowadays, you can't do that anymore because they will take your points back also

[MMA_scientist]

I have a rate of 2.85% right now for my house. Rates are pretty low right now

In the U.S.? I have never heard of anything that low...

[sbjj]

Probably get a 10yr. that low.

[MMA_scientist]

I read about teh godl coins and miles thing, That was awesome... I love it when people find a way to stick it to the man.

[MMA_scientist]

Probably get a 10yr. that low.

I am against borrowing money because I can get a better rate of return elsewhere.... but at 2.85%, that would be tempting to just mortgage my equity and put it in the stock market or start betting more.

[sbjj]

I am against borrowing money because I can get a better rate of return elsewhere.... but at 2.85%, that would be tempting to just mortgage my equity and put it in the stock market or start betting more.

Totally agree.

[MMA_scientist]

maximum you can get in Canada was 5 years a couple years ago.
I would love to be able to sign for 15 years but it is not an option over here.

Wait, how much do houses cost in Canada? Are you saying the longest term they will give anyone is 10 years? Is there a balloon payment at the end and you are just sort of expected to re-finance every 5 or 10 years? Or do Canadians just save a lot more than Americans...

[trotterz]

Totally agree.

it is probably not ht ebest time right now for the stock market, but for the betting part, I totally agree. you have been doing extremely good. Really good return on your investment

[MMA_scientist]

The stock market is down, but a lot of people (self included) think it is undervalued as a whole, especially in Europe. I usually buy individual companies, but I am making an exeception, and I am getting ready to buy a Europe ETF. This article compares Europe's current situation to the U.S. in 2008.

http://www.fool.com/investing/international/2011/09/12/why-you-should-look-at-europes-big-value.aspx?source=isesitlnk0000001&mrr=0.33

[trotterz]

Wait, how much do houses cost in Canada? Are you saying the longest term they will give anyone is 10 years? Is there a balloon payment at the end and you are just sort of expected to re-finance every 5 or 10 years? Or do Canadians just save a lot more than Americans...

Well in fact, re-financing is not something that happens a lot in canada.
That is something that happens A LOT in the USA, nad that is one of the primary reason for the depression that your are in right now. Your economic situation is pretty much based on all the re-financing that people were doing on their house to get more money to pay their debts.

And the maximum you can get in canada was 5 years to sign for a mortgage, so you have to sign back every 5 years. Because of it, the competition between the banks is higher, which means lower rates for us.

By they way, by saying that re-financing is the reason of your depression in the states, I am not talking about renew your actual mortgage. I am talking about getting more money. Let's say you buy your house for 300 000$ in 2009. in 2011, the value of your house went up to 330 000 and you are re-financing the house for a new mortgage at 330 000$, getting 30 000$ cash in your pocket to pay for your bills of debts. I don't know the exact name for that procedure in english but I tought it was re-financing.
That was something that americans has been doing a lot in the past years. Cause #1 for the depression

let me know if it's hard to understand what I am trying to explain.

[Ludo]

BOLZZZZZZZZZZZZZZZZZZZZZZZZZ!!!!!!! How did no one else catch on to this?


Clay Guida:

I think nobody got it because Guida was actually in an insurance commercial but I didn't remember which insurance company it was for.