Bad With Money 2018: When I die, bury me in the blockchain.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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Splicer: Oct 16, 2006; from hell's heart I cast at thee
🧙🐀🧹🌙🪄🐸

quote:

Hi my mother spent every day of my life breaking and rebreaking my arms and legs, leaving me with crippled noodley stumps that barely count as limbs. She has recently acquired a new hammer, what should I do?

quote:

Have you considered just standing up and taking it off her?

Splicer fucked around with this message at 16:21 on Jul 11, 2018

# ? Jul 11, 2018 16:19

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# ? May 29, 2024 22:25

Dwight Eisenhower: Jan 24, 2006; Indeed, I think that people want peace so much that one of these days governments had better get out of the way and let them have it.

yeah everyone who's telling the dude to "just say no" and keep living with crazy mom has never lived with a narcissist and should go trawling through /r/raisedbynarcissists some time

basically you can either be forceful enough to get kicked out because you're no longer of any use to the narcissist or you can get worn down and eventually be cosigning your mom's mortgage that she can't afford or duped into co-signing for it fraudulently and good job proving that in court

# ? Jul 11, 2018 16:19

Splicer: Oct 16, 2006; from hell's heart I cast at thee
🧙🐀🧹🌙🪄🐸

Oh and for the new page:

Splicer posted:

He's said no. He's asking for advice on how to accelerate his escape plans by 6 months. Also you're both idiot robots.

# ? Jul 11, 2018 16:22

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

I'm pretty sure John Smith killed his own parents when their utility to him decreased beyond a certain point. And having raised such a monster, his parents took their fate stoically.

Seriously, the ignore button is there for a reason.

# ? Jul 11, 2018 16:23

Motronic: Nov 6, 2009

BEHOLD: MY CAPE posted:

Ignore John Smith etc etc

Quoting JS should get an instant probation. Hope that helps.

(stop doing it)

# ? Jul 11, 2018 16:28

potatoducks: Jan 26, 2006

True weakness is letting things on the internet upset you so much that you have to go out of your way to avoid them.

# ? Jul 11, 2018 16:34

Hoodwinker: Nov 7, 2005

potatoducks posted:

True weakness is letting things on the internet upset you so much that you have to go out of your way to avoid them.

John Smith alt account spotted.

# ? Jul 11, 2018 16:54

Inept: Jul 8, 2003

potatoducks posted:

True weakness is letting things on the internet upset you so much that you have to go out of your way to avoid them.

This is a dumb take. Sometimes things aren't upsetting, they're just deeply, annoyingly stupid. Like Zaurg! That's why people get probated or banned and threads get gassed. There's always 4chan if you want full, unbridled garbage.

# ? Jul 11, 2018 17:01

Rotten Red Rod: Mar 5, 2002

Ixian posted:

I don't know how old you are but I grew up there and people have been asking that since the 70's. Only the zeros after the numbers change.

Haven't lived there in years but work for a Silicon Valley company so get to go back every month or so (Santa Clara, technically). Super-crowded, run-down in several parts, the traffic is eternally lovely, the vaunted California weather actually isn't all that great, I mean, what's not to like?

The vaunted California weather is actually secretly referring only to southern California. Well, just San Diego, really, because in LA you have to deal with the smog and traffic. I have problems with living in San Diego but I cannot complain about the weather (and beaches).

Not that I'm saying you should move here. It's still too drat expensive unless you're already loaded or already own a home.

moana posted:

Yeah we're in the mountains outside San Jose and I'm always flummoxed when I have to drive a car during rush hour. It's just incredible how far people will drive for a job in Silicon Valley, and it keeps getting worse and worse. Or better and better, I guess, for people who already own. Maybe things will change during the next tech bubble burst, or maybe every job except for programming will be eliminated in the future robocalypse and the entire world will want to move to San Jose, who knows!!!

edit: want to see what $625k will buy you in California? Spoiler: it's less than 500 square feet! https://www.zillow.com/homes/for_sale/Santa-Cruz-CA/house_type/16112305_zpid/

Or all the tech companies will move to Vegas when they can no longer attract people who can afford to live in the bay area, all the tech workers will follow, and the janitors, security guards and cooks will be left to rot in the corpse of San Jose.

That house kind of a bad example, as it's in Santa Cruz, which is basically an entire small town of prime beachfront property. So that's to be expected. Housing in the lovely suburban parts of San Jose/Santa Clara county approaching 1mil? That's crazy.

Colin Mockery posted:

Didn�t Apple just finish a new Cupertino campus? The big one shaped like a donut? Oh yeah, I looked it up and it finished end of last year.

Yeah but I'll guess what is driving this is actually Apple's acquisition of a bunch of buildings near downtown San Jose, and Google buying an expansive building there too. Apple already ruined Cupertino - ~20+ years ago it was a middle-low income community and now the shittiest home there is worth millions (and no one lucky enough to own one is selling).

Rotten Red Rod fucked around with this message at 17:24 on Jul 11, 2018

# ? Jul 11, 2018 17:19

Trustworthy: Dec 28, 2004; with catte-like thread
upon our prey we steal

John Smith posted:

Being thoroughly unpleasant is a life skill

Reported for self-posting

# ? Jul 11, 2018 17:27

bob dobbs is dead: Oct 8, 2017; I love peeps; Nap Ghost

i unironically want the tech majors to steamroll the dipshit city councils and zone the entire bay area for 50 story concrete buildings

gently caress em on everything else but we need more soulless 50 story concrete apartments in the bay

instead of khrushchyovkas we'll have zuckerbergovkas

# ? Jul 11, 2018 17:35

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

Can't we just build floating apartment buildings in the bay?

Not RIGHT in the bay. I saw that Rock* movie. Maybe further out and then have express ferry lanes.

*either one of the Rock movies about San Francisco applies in this scenario.

# ? Jul 11, 2018 17:42

wilderthanmild: Jun 21, 2010; Posting shit; Grimey Drawer

There's month long cruises cheaper than Rent in the bay area. Just park some of those suckers in the bay.

# ? Jul 11, 2018 17:44

mandatory lesbian: Dec 18, 2012

Hoodwinker posted:

John Smith alt account spotted.

tbh i find it pretty easy to just pass over bad posters without needing ignore, i see where that guys coming from

# ? Jul 11, 2018 17:48

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Ignore button is pointless when you inconsolable babies spend the next 25 posts talking about How Darn Awful that bad man is

# ? Jul 11, 2018 17:53

Hoodwinker: Nov 7, 2005

mandatory lesbian posted:

tbh i find it pretty easy to just pass over bad posters without needing ignore, i see where that guys coming from

The constant reminders to ignore John Smith are less about protecting my own frail sensibilities and more about trying to prevent the excessive derails that follow him.

# ? Jul 11, 2018 17:53

Doc Hawkins: Jun 15, 2010; Dashing? But I'm not even moving!

bob dobbs is dead posted:

i unironically want the tech majors to steamroll the dipshit city councils and zone the entire bay area for 50 story concrete buildings

gently caress em on everything else but we need more soulless 50 story concrete apartments in the bay

instead of khrushchyovkas we'll have zuckerbergovkas

We wouldn't even have this problem if you had just let them pave the bay like they wanted to!

# ? Jul 11, 2018 17:54

Rotten Red Rod: Mar 5, 2002

bob dobbs is dead posted:

i unironically want the tech majors to steamroll the dipshit city councils and zone the entire bay area for 50 story concrete buildings

gently caress em on everything else but we need more soulless 50 story concrete apartments in the bay

instead of khrushchyovkas we'll have zuckerbergovkas

See if that happened they'd either be sold as luxury apartments, or be company-only compounds like Palantir has created out of Palo Alto.

# ? Jul 11, 2018 17:58

bob dobbs is dead: Oct 8, 2017; I love peeps; Nap Ghost

Rotten Red Rod posted:

See if that happened they'd either be sold as luxury apartments, or be company-only compounds like Palantir has created out of Palo Alto.

you see, that's why you make em soulless and concrete, so you could never mistake them for luxury apartments, and 50 stories, for the same reason

i thought this through

# ? Jul 11, 2018 18:17

Rotten Red Rod: Mar 5, 2002

bob dobbs is dead posted:

you see, that's why you make em soulless and concrete, so you could never mistake them for luxury apartments, and 50 stories, for the same reason

i thought this through

Oh, you mean like the luxury apartments (aka the ONLY new construction) recently built in San Jose?

... Yeah I know I'm being facetious, but the construction companies will bend over backwards to build nothing but "luxury" apartments. Many of them are only luxury on the surface, but were built cheaply and have horrible issues once people move in.

Rotten Red Rod fucked around with this message at 18:31 on Jul 11, 2018

# ? Jul 11, 2018 18:26

bob dobbs is dead: Oct 8, 2017; I love peeps; Nap Ghost

they do currently because zoning is insane here and land costs are also insane here because the zoning is insane here

# ? Jul 11, 2018 18:35

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

Could we build high rises that are just beautiful bespoked wooden frameworks with pretty glass wind chimes and poo poo for the first 5 floors so it doesn't disturb the views for existing houses? Then the next 10 floors can be brutalist motherfuckers.

# ? Jul 11, 2018 18:40

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

High-rises gotta be the opposite - concrete on the bottom and wood on top

Also high-rises are gorgeous, what's wrong with everybody?!

# ? Jul 11, 2018 18:41

BEHOLD: MY CAPE: Jan 11, 2004

Rotten Red Rod posted:

Oh, you mean like the luxury apartments (aka the ONLY new construction) recently built in San Jose?

... Yeah I know I'm being facetious, but the construction companies will bend over backwards to build nothing but "luxury" apartments. Many of them are only luxury on the surface, but were built cheaply and have horrible issues once people move in.

they build luxury apartments because it is cost unfeasible to build anything else with the onerous zoning, setback, green space, parking space, etc etc requirements that you have to meet after being battled for years in hearings by the next door NIMBYs

# ? Jul 11, 2018 18:45

Guinness: Sep 15, 2004

BEHOLD: MY CAPE posted:

they build luxury apartments because it is cost unfeasible to build anything else with the onerous zoning, setback, green space, parking space, etc etc requirements that you have to meet after being battled for years in hearings by the next door NIMBYs

Also, new "luxury" housing relieves pressure on older housing assuming that the net units available increases.

Asking for new construction to be "cheap" is like asking Toyota to sell used 2002 Corollas as new cars. Just doesn't work that way. In ten or so years it will no longer be "new" and "luxury", it'll just be plain old housing.

# ? Jul 11, 2018 18:57

The Macaroni: Dec 20, 2002; ...it does nothing.

BEHOLD: MY CAPE posted:

they build luxury apartments because it is cost unfeasible to build anything else with the onerous zoning, setback, green space, parking space, etc etc requirements that you have to meet after being battled for years in hearings by the next door NIMBYs

Yup. In Evanston, Illinois, there was a proposal for a really nice high-rise mixed-income development that would have a big park at its base. Then the NIMBY folks struck, and the developer compromised by:

1) turning the high-rise into stumpy townhouse units
2) eliminating most of the mixed-income units because now there were fewer overall units
3) eliminating the park, since the footprint of the development was now much wider

# ? Jul 11, 2018 18:57

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

It's up for debate whether new luxury supply actually increases all housing prices (why can't Midtown Flats raise their rent 10% when the brand new Luxury Towers costs 50% more)

or whether new luxury supply just happens to follow hot markets

But seemingly you can't Build your way out of rising rents.

# ? Jul 11, 2018 19:05

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

GoGoGadgetChris posted:

It's up for debate whether new luxury supply actually increases all housing prices (why can't Midtown Flats raise their rent 10% when the brand new Luxury Towers costs 50% more)

or whether new luxury supply just happens to follow hot markets

But seemingly you can't Build your way out of rising rents.

Right now you can't because there's so much pent up demand you can build 100k new luxury apartments and they'll be pre-sold before you even break ground and old dwellings won't go down in price.

That doesn't mean you shouldn't though, because eventually the market is going to crash and all those extra apartments previously owned by now unemployed techbros will push down rents.

# ? Jul 11, 2018 19:34

wilderthanmild: Jun 21, 2010; Posting shit; Grimey Drawer

I assume new apartment construction follows the same pattern as new house construction. A plot of land costs the same no matter what you're building on it. A plot of land with a monster house sells/rents for more than a plot of land with a modest house. So, the vast majority of developments build a bunch of giant McMansions rather than modest homes. Luxury apartments rent for more, so without incentive to do otherwise, developers will just build luxury apartments.

wilderthanmild fucked around with this message at 19:58 on Jul 11, 2018

# ? Jul 11, 2018 19:55

Phanatic: Mar 13, 2007; Please don't forget that I am an extremely racist idiot who also has terrible opinions about the Culture series.

GoGoGadgetChris posted:

It's up for debate whether new luxury supply actually increases all housing prices (why can't Midtown Flats raise their rent 10% when the brand new Luxury Towers costs 50% more)

or whether new luxury supply just happens to follow hot markets

But seemingly you can't Build your way out of rising rents.

Lots of cities have managed to build enough units that their housing costs have stayed pretty flat despite rising population.

# ? Jul 11, 2018 20:00

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Phanatic posted:

Lots of cities have managed to build enough units that their housing costs have stayed pretty flat despite rising population.

Source?

# ? Jul 11, 2018 20:05

Splicer: Oct 16, 2006; from hell's heart I cast at thee
🧙🐀🧹🌙🪄🐸

wilderthanmild posted:

I assume new apartment construction follows the same pattern as new house construction. A plot of land costs the same no matter what you're building on it. A plot of land with a monster house sells/rents for more than a plot of land with a modest house. So, the vast majority of developments build a bunch of giant McMansions rather than modest homes. Luxury apartments rent for more, so without incentive to do otherwise, developers will just build luxury apartments.

In my experience a monster house costs a bit less than a regular house as long as you finish the questline first.

# ? Jul 11, 2018 20:10

Motronic: Nov 6, 2009

Need advice on what to do with my loan.
https://www.reddit.com/r/personalfinance/comments/8y2gwm/need_advice_on_what_to_do_with_my_loan/

quote:

Hello everyone,

Currently, I have two loans - $70,000 in overdraft loan at 18% which has to be paid on a daily basis (~$270) and another $200,000 in personal loan at an average 30% paid monthly.

The personal loan is from friends and family and, isn't time bound. Meaning, the interest has to be paid indefinitely until I can pay the principal. The overdraft loan is for a year and can be refinanced.

I'm also a sole proprietor in my business and have invested the loan amount to the business. It is my only source of income and I use the revenue to pay my loans. The nature of my business is such that if I reinvest all my sales throughout the month, I can pay off the monthly loan amount, and will have receivables to be realized for the next month. Then again, one bad month can turn everything upside down. Also, the daily payment to the OD kills off a part of my profit, and since I invest almost everything I earn daily, I'm always low on cash.

I'm in the process of getting a $20,000 personal loan from bank at 13% (5 years tenure) to replace the high interest loans and hopefully improve my cash flow, but don't know how I should go about it and am not sure if it would make any difference at all.

Here are three possible options I've thought of:

Invest in the business, earn more and reinvest all to increase my profit so that in the long run, the cash flow will improve.

Pay off part of my OD decreasing my daily payments so that I have more cash in hand daily and can reinvest more.

Pay off part of my personal loan so that the highest interest loan is being paid off and the monthly payment will be less than before.

It'd be great if I could get any sort of advice to get on the right path. Thanks.

# ? Jul 11, 2018 20:24

The Macaroni: Dec 20, 2002; ...it does nothing.

$200k personal loan? At 30%? Just the interest is more than my take-home pay. :stare:

# ? Jul 11, 2018 20:46

Mocking Bird: Aug 17, 2011

Motronic posted:

Need advice on what to do with my loan.
https://www.reddit.com/r/personalfinance/comments/8y2gwm/need_advice_on_what_to_do_with_my_loan/

My eyes are refusing to process this

Just burn it down and start fresh in Mexico I guess

# ? Jul 11, 2018 20:49

wilderthanmild: Jun 21, 2010; Posting shit; Grimey Drawer

For what it's worth, that guy is in Nepal so I don't know if those are USD. He also mentions in the thread that he thinks there is no lending regulation there, so this guy probably is as hosed as possible and trapped.

Edit: I missed that these ridiculous loans and rates are from his family. Is his family a bunch of loansharks?

wilderthanmild fucked around with this message at 20:51 on Jul 11, 2018

# ? Jul 11, 2018 20:49

Barry: Aug 1, 2003; Hardened Criminal

wilderthanmild posted:

For what it's worth, that guy is in Nepal so I don't know if those are USD. He also mentions in the thread that he thinks there is no lending regulation there, so this guy probably is as hosed as possible and trapped.

Edit: I missed that these ridiculous loans and rates are from his family. Is his family a bunch of loansharks?

200,000 Nepalese Rupees are ~$1800 so I have to assume those numbers are in USD. That's insane.

# ? Jul 11, 2018 20:54

wilderthanmild: Jun 21, 2010; Posting shit; Grimey Drawer

That's way more than a couple lifetimes of income for most people in Nepal so I feel like it has to be Rupees. I won't touch the poop to ask but I hope some redditor does because if he he's 200k USD in the hole in Nepal, lol.

# ? Jul 11, 2018 20:59

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

With friends and family like that, who needs enemies?

# ? Jul 11, 2018 21:27

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# ? May 29, 2024 22:25

wilderthanmild: Jun 21, 2010; Posting shit; Grimey Drawer

Oh boy it's USD. Also over a year ago he had a thread about his parents owing poo poo tons of money and not making a profit off their business.

quote:

Hello everyone.

Just the other day, I calculated the amount of debt my parents have from their business. The numbers are staggering (atleast where I live, Nepal). So, the total debt we owe is about 63,500,000 (excluding 3 short term loans) at an average 27%. About 48,500,000 are personal loans from friends and family and the rest is bank loans.

Personal loans are not time defined, that means until and unless you pay all the principal amount, you have to pay the interest indefinitely.

On the other hand, one of the bank loans is 7,000,000 at 22% and is due 1 year from now. The other is a house mortgage, 8,000,000 at 13% and is due 5 years from now.

Apart from this, we still have 3 short term loans (these are excluding the 65 mill). 2 of them are 7 months due from now and require 1,925,000 each total payable (including principal + interest), while 1 of them is 11 months due from now and require 3,025,000 total payable.

So, in total (if all calculations are correct), the debt is 13,095,000 (personal - only interest) + 8,540,000 (due-1 bank loan) + 2,640,000 (mortgage) + 6,875,000 (short term). So, in the next year we have to pay around 31,150,000.

Now, for the business, my parents have two businesses which accounts for a total of 60,000,000 in sales per annum with a profit of around 35%, i.e. 20,000,000 (after home expenses, it's a family business so the profit is used for home expenses as well).

The amount is clearly not enough to pay the interests, let alone the principal amount. I've been thinking day and night on how to fix this, but am not able to figure it out.

It'd be a great help if anybody would point where to look at next.

P.S. Bankruptcy isn't an option where I live. And these numbers aren't in USD, divide by 100 for USD

# ? Jul 11, 2018 21:34

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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