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A pretty decent explanation of the mortgage crisis by merlin2008-03-19 09:06:40
  I finally had to register with NYT :-( by Peace_man2008-03-19 09:33:51
    Many other nations owe money to the US by voxwoman2008-03-19 09:35:39
      Yeah, I'm more worried about the huge debt by Peace_man2008-03-19 09:42:39
        No, there wouldn't be problems. by CynicalRyan2008-03-19 09:53:55
          Risk vs. reward's been skewed the last few years. by esbita2008-03-19 10:06:07
            Ah, sorry. by CynicalRyan2008-03-19 10:15:14
              Clarification: by CynicalRyan2008-03-19 10:21:30
                Uh huh. You just try telling a senior... by esbita2008-03-19 10:32:40
                  If a senior starts saving for retirement, by CynicalRyan2008-03-19 10:35:33
                    If they've got nothing saved... by esbita2008-03-19 10:50:06
                      Indeed. by CynicalRyan2008-03-19 10:57:00
                        And the core concept here is still... by esbita2008-03-19 11:01:35
                          I'm not debating that. by CynicalRyan2008-03-19 11:23:54
                            Yet, PM was focusing on *seniors.* by esbita 2008-03-19 13:09:17
The "revolution" comment is overblown, of course. But, you were advocating a strategy somewhat inappropriate for the population being discussed.

Let's re-cast this in terms of gambling. If you go to a casino, blackjack has "kinder" odds than poker, but naturally the potential payout on poker is a bit larger.

When me and Mom visit the casino (infrequently, I assure you), Mom hits the video poker while I hit the blackjack. Part of it is a matter of taste, part of it also has to do with the amount of money we're each able to budget for the trip. Mom can afford to gamble a bit more than I can. She can afford to take longer odds because her stake lasts longer- it's bigger. Since she can weather more losses than I can, she can "afford" to pursue the bigger wins.

My stake is smaller, so I content myself with the kinder odds and smaller payoffs. I also have a much better head for probabilities and strategy than my mom, eroding the House advantage a little further. Even though I'm the "better gambler," Mom comes out with more money usually- because she can afford to stay in the game longer, and therefore take the longer odds.

Senior citizens are stuck at the blackjack game, unless they have serious money, then they can afford the higher risks on the poker game.

Playing poker might win you more money, but if you don't have much of a bankroll to play with, you'll be "out of the game" a lot quicker.

The name of the game is taking *only* the risk appropriate to your situation. I've got lots of nice calculators and shiny posters on portfolio theory in my office- the advice/commentary can't merely be "correct," but "correct for the situation." You're right, but not regarding the population discussed.
[ Reply ]
                              He wasn't merely focusing on them, but by CynicalRyan2008-03-19 13:30:25

 

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