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Author Topic: I've got a bad feeling about this...
The Famous Druid

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Icon 1 posted July 22, 2010 23:48      Profile for The Famous Druid     Send New Private Message       Edit/Delete Post   Reply With Quote 
GM to buy AmeriCredit Corp

quote:
From TFA:
General Motors Co. will buy AmeriCredit Corp. for $US3.5 billion ($A3.93 billion), a deal that allows the automaker to expand loans to customers with poor credit and offer more leases, key areas where GM must grow to accelerate its car sales



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If you watch 'The History Of NASA' backwards, it's about a space agency that has no manned spaceflight capability, then does low-orbit flights, then lands on the Moon.

Posts: 10680 | From: Melbourne, Australia | Registered: Oct 2002  |  IP: Logged
Ashitaka

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Icon 1 posted July 23, 2010 00:00      Profile for Ashitaka     Send New Private Message       Edit/Delete Post   Reply With Quote 
I though GM was bankrupt, oh wait, that was before we gave them billions of dollars.

Good to see that they are putting that money to good use.


disclaimer: I didn't RTFA.

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"If they're not gonna make a distinction between Muslims and violent extremists, then why should I take the time to distinguish between decent, fearful white people and racists?"

-Assif Mandvi

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TheMoMan
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Icon 1 posted July 23, 2010 03:46      Profile for TheMoMan         Edit/Delete Post   Reply With Quote 
____ The whole deal has that bad fish or out house smell.


____ This worries me more.

http://online.wsj.com/article/SB10001424052748704258604575361182317501188.html

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Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.


Benjamin Franklin,

Posts: 5848 | From: Just South of the Huron National Forest, in the water shed of the Rifle River | Registered: Sep 2002  |  IP: Logged
Ashitaka

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Icon 1 posted July 23, 2010 04:29      Profile for Ashitaka     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by TheMoMan:
____ The whole deal has that bad fish or out house smell.


____ This worries me more.

http://online.wsj.com/article/SB10001424052748704258604575361182317501188.html

I am confused .
This is not how I thought futures Contracts worked.

i was under the opinion that a futures contract is a contract to buy a commodity on a set date at a set price. i.e. 3$/ bushel onthe 15th of Oct. If the price goes up the farmer loses out on some profit and the broker makes a few bucks. IF the price drops then the farmer doesn't go bankrupt becuase he couldn't sell his crop at a high enough price.

It seems they are trying to do trh same thing with a much more complicated process that I don't understand. perhaps they should end this way of doing business. Why is it beter than what i have desribed?

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"If they're not gonna make a distinction between Muslims and violent extremists, then why should I take the time to distinguish between decent, fearful white people and racists?"

-Assif Mandvi

Posts: 3089 | From: Switzerland | Registered: Feb 2006  |  IP: Logged
TheMoMan
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Icon 1 posted July 23, 2010 09:01      Profile for TheMoMan         Edit/Delete Post   Reply With Quote 
____ May be because it is a derivative of a future. I always had trouble with Calculus.

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Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.


Benjamin Franklin,

Posts: 5848 | From: Just South of the Huron National Forest, in the water shed of the Rifle River | Registered: Sep 2002  |  IP: Logged
TheMoMan
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Icon 1 posted July 23, 2010 09:22      Profile for TheMoMan         Edit/Delete Post   Reply With Quote 
____ Now even Wal-Mart is spying on us. If you have an enhanced drivers licenses they will know who and where you live.


http://online.wsj.com/article/SB10001424052748704421304575383213061198090.html?mod=googlenews_wsj

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Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.


Benjamin Franklin,

Posts: 5848 | From: Just South of the Huron National Forest, in the water shed of the Rifle River | Registered: Sep 2002  |  IP: Logged
The Famous Druid

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Icon 1 posted July 23, 2010 16:15      Profile for The Famous Druid     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by Ashitaka:
i was under the opinion that a futures contract is a contract to buy a commodity on a set date at a set price. i.e. 3$/ bushel onthe 15th of Oct. If the price goes up the farmer loses out on some profit and the broker makes a few bucks. IF the price drops then the farmer doesn't go bankrupt becuase he couldn't sell his crop at a high enough price.

It seems they are trying to do the same thing with a much more complicated process that I don't understand. perhaps they should end this way of doing business. Why is it beter than what i have desribed?

I think the difference is that most of the people trading on the futures market have no interest in buying/selling the actual commodity when the contract falls due, they're just using the futures market as a casino.

When most of the people selling corn futures don't have any corn to sell, and most of the people buying corn futures don't want to buy corn, things get complicated, and risky.

It'll probably work well enough most years, but if there's a huge swing in the market (which is what the people in the story are hedging against) then you might find many of the people in the market unable/unwilling to meet their commitments. So if the price of diesel quadruples, the guy who's sold 100,000 gallons of diesel futures might just run up the white flag of bankruptcy, which leaves the truck driver up shit creek.

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If you watch 'The History Of NASA' backwards, it's about a space agency that has no manned spaceflight capability, then does low-orbit flights, then lands on the Moon.

Posts: 10680 | From: Melbourne, Australia | Registered: Oct 2002  |  IP: Logged
The Famous Druid

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Icon 1 posted July 23, 2010 16:30      Profile for The Famous Druid     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by TheMoMan:
____ Now even Wal-Mart is spying on us. If you have an enhanced drivers licenses they will know who and where you live.

If they ever introduce RFID licenses here, I'm getting a tinfoil wallet.

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If you watch 'The History Of NASA' backwards, it's about a space agency that has no manned spaceflight capability, then does low-orbit flights, then lands on the Moon.

Posts: 10680 | From: Melbourne, Australia | Registered: Oct 2002  |  IP: Logged
TheMoMan
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Icon 1 posted July 23, 2010 17:51      Profile for TheMoMan         Edit/Delete Post   Reply With Quote 
____ Derivative, or Future, Chicago Board of Trade, they all seem to be places to bet OPM (other peoples money) while you cook the books to show a profit.

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Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.


Benjamin Franklin,

Posts: 5848 | From: Just South of the Huron National Forest, in the water shed of the Rifle River | Registered: Sep 2002  |  IP: Logged
dragonman97

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Icon 1 posted July 23, 2010 21:46      Profile for dragonman97   Author's Homepage     Send New Private Message       Edit/Delete Post   Reply With Quote 
Re: Derivatives and farming: WTF?!?!
(It is an article in the Journal after all, so I might take the angle with a grain of salt...but the overall concept is mindblowing.)

Re: RFID in Walmart products - well...I'm quite safe as I never set foot in them. [Razz] Personally, I'm a bit tossed about the tech - I happen to think it's actually very clever with great potential...except it's also chockful of bad potential. :/

However, I don't think it's a completely insurmountable problem.

Since the tags are disposable, I can't help but think they could be destroyed by cracking them in half. Another simple solution would be to take them back for a teeny store credit (a la bottle deposits) - make them worth a penny or so, and tout it as 'recycling.' Alternatively, perhaps accept them like boxtops for charity - if you have big bins in schools & churches, they will become completely anonymous, and cancel each other by interference.

TFD: You might want to check these guys out:
http://www.difrwear.com/

(I'm not quite the tinfoil type...but I have it on good authority that the aforementioned products work.)

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There are three things you can be sure of in life: Death, taxes, and reading about fake illnesses online...

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TheMoMan
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Icon 1 posted July 24, 2010 04:22      Profile for TheMoMan         Edit/Delete Post   Reply With Quote 
____ Please look at a spectrum chart.

www.ntia.doc.gov/osmhome/allochrt.pdf

____ There are a lot of treaties that allocate these freqs to use by the military, Commercial interests, medical, public safety, and amateur use. Just so much more RF Noise to contend with. Plus could a LEO happen to erase half the store by using his walkie talky inside?

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Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.


Benjamin Franklin,

Posts: 5848 | From: Just South of the Huron National Forest, in the water shed of the Rifle River | Registered: Sep 2002  |  IP: Logged
The Famous Druid

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Icon 1 posted July 24, 2010 16:59      Profile for The Famous Druid     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by dragonman97:
I have it on good authority that the aforementioned products work.

That's what THEY want you to think.

--------------------
If you watch 'The History Of NASA' backwards, it's about a space agency that has no manned spaceflight capability, then does low-orbit flights, then lands on the Moon.

Posts: 10680 | From: Melbourne, Australia | Registered: Oct 2002  |  IP: Logged
David Rogers
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Icon 1 posted July 26, 2010 09:00      Profile for David Rogers     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by Ashitaka:
quote:
Originally posted by TheMoMan:
____ The whole deal has that bad fish or out house smell.


____ This worries me more.

http://online.wsj.com/article/SB10001424052748704258604575361182317501188.html

I am confused .
This is not how I thought futures Contracts worked.

i was under the opinion that a futures contract is a contract to buy a commodity on a set date at a set price. i.e. 3$/ bushel onthe 15th of Oct. If the price goes up the farmer loses out on some profit and the broker makes a few bucks. IF the price drops then the farmer doesn't go bankrupt becuase he couldn't sell his crop at a high enough price.

It seems they are trying to do trh same thing with a much more complicated process that I don't understand. perhaps they should end this way of doing business. Why is it beter than what i have desribed?

Futures contracts are the original derivative. They were first traded either in Chicago or New York, I don't recall which right now, around the end of the Civil War. Other types of derivatives followed. It looks like the article mentions this.

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David Rogers

Posts: 66 | From: Champaign IL USA | Registered: May 2002  |  IP: Logged
Ugh, MightyClub
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Icon 1 posted July 27, 2010 05:40      Profile for Ugh, MightyClub     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by The Famous Druid:
quote:
Originally posted by TheMoMan:
____ Now even Wal-Mart is spying on us. If you have an enhanced drivers licenses they will know who and where you live.

If they ever introduce RFID licenses here, I'm getting a tinfoil wallet.
The New York State enhanced drivers licenses come with an RF-resistent envelope. They recommend you always store your license in its little tinfoil hat.

Wait! What does it mean when the big evil government starts recommending use of the very protection they used to scoff at? OMG, they figured out a way to spy on my brain through my helmet! We're DOOOOOOMED!

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Ugh!

Posts: 1742 | From: Ithaca, NY | Registered: Dec 2004  |  IP: Logged


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