n95 dust masks

[Dirtmechanic]

Don't get where you believe banks make 100% profit? If they charge 4% interest, they pay .5% in interest to people with money in bank. They pay upkeep on building, employees salaries and benefits. What am I missing?

I saw a list with the greater number of industries ranked by margin. I believe it has to do with the way they calculate interest, how you pay it up front on a note like a mortgage so that very little if any principal is paid down early. A mortgage of the 30 year variety of 80,000 will cost 50,000 in interest at 3.5% roughly. So if they sell the note and have some overheads they still come out fine. If they take a discount related to the time value of money they get a lot of that profit this year rather than waiting. I guess thats what those CDO and mortgage bonds that caused the great recession were all about.

 

[seedcorn]

Not disagreeing that banks make consistent, decent money or that the large corporations want to use the money to pay back banks mortgages.

The point was and is that most of us consider small businesses different than McDonalds. Plus it was too offset what they paid workers. Now large corporations got most of the money and want to use it for paying off capital expenditures. I saw a list of the worth of the corporations and the amount of money they got-all were worth $100M+and got $1M+. (Tried to find the list but it was taken off). Most of them sounded like foreign companies.

Per your point on interest vs principle, if you borrow $100K, 5% interest you owe, $5k in interest first year. Bank charges $791 on a 15 year. $416 per month is interest ($5k/12 months). So you only payed $4500 in principle. At end of year 1, you still owe $95.5k in principle. This is way over simplification.

 

[flowerbug]

the GR was about a lot of very poor quality loans being bundled together and resold as better grade investments than they actually were. they resold these things all over the world and a lot of people got suckered.

first news of potential exposure to family member. *crosses fingers and everything else*

 

[Dirtmechanic]

Not disagreeing that banks make consistent, decent money or that the large corporations want to use the money to pay back banks mortgages.

The point was and is that most of us consider small businesses different than McDonalds. Plus it was too offset what they paid workers. Now large corporations got most of the money and want to use it for paying off capital expenditures. I saw a list of the worth of the corporations and the amount of money they got-all were worth $100M+and got $1M+. (Tried to find the list but it was taken off). Most of them sounded like foreign companies.

Per your point on interest vs principle, if you borrow $100K, 5% interest you owe, $5k in interest first year. Bank charges $791 on a 15 year. $416 per month is interest ($5k/12 months). So you only payed $4500 in principle. At end of year 1, you still owe $95.5k in principle. This is way over simplification.

I saw the list. One key is simple paperwork. Public companies have developed robust financial reporting systems. Joe the plumber might get to the paperwork at some point this weekend if he doesnt have too much to do fixing his house, doing some things for his wife or helping with the kids. The "Rule of 78s" is used on loans. On 100k at 5% over 360 months using weekly compounding instead of the usual daily compounding the interest and principle is $193,431.60

 

[Ridgerunner]

Sorry to hear about that potential exposure. It really gets real when it's about you and yours.

Yesterday was our weekly shopping trip. The first hour is for old folks and people at risk. We actually got everything on out list, though not necessarily our preferred brands. Toilet paper was not on our list, I didn't even notice if they had any. Focused on other things.

At checkout a man in a volunteer fireman's uniform got in line behind me. He only had one item so I insisted he go in front of me. He was probably around 40 but as a first responder I'm not complaining about him being there in that old people's time.

I'm glad I insisted, he at first declined. He was not wearing a mask and paid no attention to the social distancing markers or some other behaviors. I would have been uncomfortable being in front of him.

 

[baymule]

I have been able to find most everything over the course of weeks, many trips in hopes of finding something and going to several different towns.

 

[majorcatfish]

would have to say people are getting extermly bored, the interstate has been just wonderful the last couple weeks almost like it was built for me and truck drivers...zoom zoom

but nooooo not today it was just like thanksgiving traffic and on top of that guess the last 3 weeks people have forgotten how to drive, 3 accidents between work and home....

will be happy when things open up again shortly....

 

[flowerbug]

Sorry to hear about that potential exposure. It really gets real when it's about you and yours.
...

it's been getting me from the start. i have way too many people in my circle who are vulnerable to this. all the people who are clamoring to open back up and jack the rate of spread back up again are voting by their actions for the deaths of a lot of people i know.

 

[seedcorn]

it's been getting me from the start. i have way too many people in my circle who are vulnerable to this. all the people who are clamoring to open back up and jack the rate of spread back up again are voting by their actions for the deaths of a lot of people i know.

Not true. Too tired to go back into explanations as it’s just a dog chasing it’s tail.

 

[Dirtmechanic]

would have to say people are getting extermly bored, the interstate has been just wonderful the last couple weeks almost like it was built for me and truck drivers...zoom zoom

but nooooo not today it was just like thanksgiving traffic and on top of that guess the last 3 weeks people have forgotten how to drive, 3 accidents between work and home....

will be happy when things open up again shortly....

I am gonna miss the open road as recovery begins. It was really nice having a full throated V8 engine opened up on the barren interstate. Thank you Dwight D Eisenhower.