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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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Paula-----
----I certainly cannot speak with any authority for those folks worldwide-----I only know about my immediate area (the USA). But I do know that
ANYBODY in America can put enough money aside to participate in the American Dream----it just takes care, determination, and a "stick-to-it"
phylosophy, and the rest just comes along, in this country.
My wife and I have put aside 30% of our earnings and invested it in the Market for the last 32 years, and now it has payed off big time. The most we
EVER grossed was 40K at retirement 11 years ago, and we earned considerably less before that. Now the "investments" (all stocks & Mutual Funds)
are rewarding us, and we have nothing to worry about for the rest of our lives, (and our kids lives) unless the whole nation collaspes, and then we
will all be in the same boat and just do the best we can.
ANYBODY can do this----they just have to make the commitment, a little sacrifice, and it ain't that hard. We certainly have never felt deprived, but
we did not have a lot of stuff either, but we sure had fun, and still are.
The American Dream is alive and well-----it just takes some long term thinking, and "sticking to it".
Listen to Susi Orman--------she tells you how to do it.
Viva Baja, and Viva the American Dream!!!!! and I want very little from my "government" other than to support our way of life, and to defend it.
Life is VERY good. 
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David K
Honored Nomad
Posts: 64858
Registered: 8-30-2002
Location: San Diego County
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Mood: Have Baja Fever
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Good for you Barry!
I only wish I could have done that... Is there still enough time, I'm 49 with 2 more years before Sarah turns 18, never had extra to save raising two
kids alone??? Hey, at least they know how to camp... we did a lot of that!
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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good fortune is earned and planed for some live for today some live for tomorrow some never expect to get thier heads above the water and get exactly
what they expect i agree berry anyone can if they put there mind to it
jerry and judi
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Barry A.
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Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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Thanks, Jerry-------I really believe it is true.
David-----Of course you can do it-------at 49 you have a lot of time. I too went thru a divorce after 24 years, remarried 6 years later, and between
me and my (now) wife have 4 kids-----we got all thru college, and they are all doing well now. Of course the kids all worked, and help to put
themselves thru college----we never could have done it without their help.
It is not easy, but not that hard either. It is just a mind-set, I think. And I suppose there is some luck to it, also. I don't like to think so,
but we have had some lucky breaks----picked some good stocks and Funds-------had kids with "drive" to succeed------and no disasters to contend
with------but still we did stick to that 30% of income committed to the Market, and with luck and good planning your investments will double in value
about every 6-7 years (that is "free" money) and you will probably make it. It sure beats just "spending" the money with NO return at all once the
"stuff" you bought wears out and is gone.
As you can tell (I think), I really believe in this-----it kills me that more don't put it into practice. We have so much opportunity in this
country----------so much!!!
Barry
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David K
Honored Nomad
Posts: 64858
Registered: 8-30-2002
Location: San Diego County
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Mood: Have Baja Fever
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Thanks Barry... I appreciate your insight into this. Sounds like we traveled similar paths in the past!
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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your kids are a product of thier parents and you can pat your self on your back for themyou done good as a teacher
i made a plan when i was very young that i wasnt going to work all my life i bought my first house when i was 21 and i still own it and have never
lived in it leveraged it and bought 2 more in the next 2 yrs got a divorce and all i had was 3 mortages not a dime or even a bed but the rent was
making the payments with my saleryand i was working for a while then self employed it was tuff but i made it throu then bought another house and 2
and a half acers in the country and on and on well i just sold the 2 and a half acers that the city grew around for 28 years thier building 30 condos
on it i still own my first house and several others best first investment is to buy your own home and uncle sam will help you make your payments with
tax deductions
jerry and judi
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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Exactly Jerry------------
----------that is exactly what I am talking about. And it really feels good, doesn't it (looking back)
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Tomas Tierra
Super Nomad
Posts: 1281
Registered: 3-23-2005
Location: oxnard, ca
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Mood: Tengo Flojera
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ok,
back to the stinking, green river that comes out in trumpijauna...is it fixable?? how big will the trumping station have to be? Maybe he could just
dam the river...Log-o-Trump
Is there a surf spot at that river mouth???
[Edited on 12-12-2006 by Tomas Tierra]
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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berry and it feels good looking a head too
jerry and judi
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Paula
Super Nomad
Posts: 2219
Registered: 1-5-2006
Location: Loreto
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Barry, Jerry and David,
You all did well and I applaud your hard work and success. We are doing just fine also.
Barry, I agree with you that anyone can do it. But that doesn't mean that everyone can, as there just isn't room at the top for us all. While those
of us who make it can rightly credit our own hard work,for many of those who don't the blame doesn't fall so easily. And while the opportunities are
great in th USA, globally many people are destined to a life of complete poverty, and there is no opportunity for them.
I don't think others are entitled to a piece of my pie necessarily, but I'm willing to contribute to the general well-being. It's not my place to
tell you that you should think a I do.
So... please excuse the interruption, let's get back to the issue at hand. Sewage, isn't it?
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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i met a man from che-ca-go said theres a lotta money in gaaa-bage
jerry and judi
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
Member Is Offline
Mood: optimistic
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Think about-----
----the amount of sewage from 1 million people???????
That is a problem that is not easily solved.
(I personally cannot get my mind around the problems of 3 billion people-------just too much. I pay more than my share of taxes, and pray that those
handing out that money are wiser than me------I see no other choice)
(and I contribute to those "causes" that I understand, and have accountability)
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MrBillM
Platinum Nomad
Posts: 21656
Registered: 8-20-2003
Location: Out and About
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Mood: It's a Zip-a-Dee-Doo-Dah Day
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Donald the Magnificent
Those who place any great faith in Trump's Business Acumen must ignore the numerous Business Projects which have failed and ended in Bankruptcy. His
record is not one of successes only.
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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Bill------I question your assertion of "numerous" failures????
---yes he has had failures, and has even gone into bankruptsy, but he has had many more "successes" than failures----------as I said before, anybody
that takes the risks that he takes is bound to have some failures. I don't think that this takes away much from his business (real estate) acumen
(sp?).
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elgatoloco
Ultra Nomad
Posts: 4332
Registered: 11-19-2002
Location: Yes
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Trump added his name on this project after a listless kickoff.
Bottom line is that the Mexican Government needs to stiffen and enforce better infrastructure regs-IMHO.
We shall see. 
MAGA
Making Attorneys Get Attorneys
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MrBillM
Platinum Nomad
Posts: 21656
Registered: 8-20-2003
Location: Out and About
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Mood: It's a Zip-a-Dee-Doo-Dah Day
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The Trump Card
.............."by 1990, the effects of recession left him unable to meet loan payments. Although he shored up his businesses with additional loans and
postponed interest payments, increasing debt brought Trump to business bankruptcy and the brink of personal bankruptcy. Banks and bond holders had
lost hundreds of millions of dollars, but opted to restructure his debt to avoid risking losing lots more money in a really big court fight. Things
were so bleak for Trump at this time that in the August 21, 1990 edition of the Jersey Record, columnist Mike Kelly wrote "If we still had debtors'
prisons, Trump would be in the dungeon." Kelly added that "Donald Trump is a Third World Nation." Also in 1990, he co-produced the game show Trump
Card in syndication".
By 1994, Trump had eliminated a large portion of his $900 million personal debt and reduced significantly his nearly $3.5 billion in business debt.
While he was forced to relinquish the Trump Shuttle (which he had bought in 1989), he managed to retain Trump Tower in New York City and control of
his three casinos in Atlantic City. Chase Manhattan Bank, (which lent Trump the money he needed to buy the West Side yards, his biggest Manhattan
parcel) forced a sale of the parcel to Asian developers. According to former members of the Trump Organization, Trump did not retain any ownership of
the site's real estate - the owners merely promised to give him about 30 percent of the profits once the site was completely developed or sold. Until
that time, the owners wanted to keep Trump on to do what he did best: building things. They gave him a modest construction fee and a management fee to
oversee the development. The people also allowed him to put his own name on the buildings that eventually rose on the yards because his well-known
moniker allowed them to charge a premium for their condos.
In 1995, he combined his casino holdings into the publicly held Trump Hotels & Casino Resorts. Wall Street drove its stock above $35 in 1996, but
by 1998 it had fallen into single digits as the company remained profitless and struggled to pay just the interest on its nearly $2 billion in debt.
Under such financial pressure, the properties were unable to make the improvements necessary for keeping up with their flashier competitors.
In 1999, Donald's father Fred Trump, a multi-billion dollar real estate mogul, died. Fred Trump, the same man who cosigned Donald's first business
loans, also happened to be the man who enabled Donald to escape from the massive financial morass he had created over the decades. Creditors who got
stuck with the past losses were not as fortunate. Whereas Donald walked away from his empire unscathed, others were forced to take catastrophic
writeoffs and losses even up to 2004, when Trump refused to continue to back his casino. Although Trump boasted he would build a bigger empire than
his father, in the end, his father built an empire so large it could even accommodate Donald's most lavish personal losses.
Problems loomed for Trump's casino resorts. In a May 28, 2004 Wall Street Journal article, Trump said the spectre of bankruptcy bothered him "from a
psychological standpoint," but added, "it really wouldn't matter that much." A number of his bondholders disagreed. In the same article, "Meyer
Marvald, a Florida retiree who says he owns about $44,000 of the bonds," said Trump "has the Sword of Damocles hanging over our heads." On October 21,
2004, Trump Hotels & Casino Resorts announced a restructuring of its debt. The plan called for Trump's individual ownership to be reduced from 56
percent to 27 percent, with bondholders receiving stock in exchange for surrendering part of the debt. Since then, Trump Hotels has been forced to
seek voluntary bankruptcy protection to stay afloat. As a result of his company filing for Chapter 11 Protection, in May of 2005 Trump relinquished
his CEO position.
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
Member Is Offline
Mood: optimistic
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Bill------
----and Trumps financial situation now is-------???????
(you seem to have left that part out)
I find it interesting that this "report"?, "article"? doesn't mention any of the Trump sucesses, only his troubles----a distinctly "Media" take on
things-------sorta like the Media's reporting on Iraq.
I don't know----maybe he is a disaster, but that is not my impression-------but what do I know.
Stickers never got back to us on the mentioned "Colorado River project" disaster----------wonder what that was all about?
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MrBillM
Platinum Nomad
Posts: 21656
Registered: 8-20-2003
Location: Out and About
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Mood: It's a Zip-a-Dee-Doo-Dah Day
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DUH ??
Well, Pilgrim, It looks like we have a failure to communicate, here.
My original statement was to the effect that, before assuming that Trump's involvement guarantees success, it should be noted that he has had numerous
failures in the past, including Bankruptcies which make him a little less than infallible.
WHY, TELL ME, WHY in response to your retort would I go into a statistical analysis of EVERY investment he's ever made ? I did not originally make
the case that he hasn't seen success so it wasn't something I needed to address. I was simply detailing those failures in response to your minimizing
them. THAT'S ALL, FOLKS.
His "Current" Financial situation means absolutely ZIP in terms of whether or not the venture will be a success. That same financial situation was
pretty darn good BEFORE he got into trouble.
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
Member Is Offline
Mood: optimistic
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Bill-----
I never assumed that YOU wrote the "piece", so of course I did not expect you PERSONALLY to go into detail-----I just wondered why the author didn't.
Also, I never even inferred that Trump was infallible-----in fact quite the opposite----I was only trying to state that just because Trump was
involved was not necessarily bad, but in fact could be good.
Anyway, your point is well taken, and as usual we agree much more than we disagree. And I appreciate that you showed us that "piece"------it does
lessen my enthusiastic support for Trump------truth is always good, and I did not previously realize the extent of Trump's problems.
Barry
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MrBillM
Platinum Nomad
Posts: 21656
Registered: 8-20-2003
Location: Out and About
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Mood: It's a Zip-a-Dee-Doo-Dah Day
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Triumphs and Failures
The article I quoted from DID detail both the successes and failures separately. I simply "pasted" the problems since that was what I was referring
to. I was only trying to say that he has made imprudent investments in the past along with some truly impressive successes.
Basically, we are in agreement.
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