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.... $2000 to be exact.

I don't know what the interest is but I pay 15 dollars a month in interest.

Don't tell Dave Ramsey or Suze Orman.
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I figure that is 3 rides on the expesive commuter train w a train pass. Monthly that goes for over 200 a month actually.

It is 10 bucks each way without it.

But I take the bus to work now -- 3 of them actually -- and that comes out to 3 dollars a ride with my unlimited metro card.

So 15 a month interest does not amount to a hill of beans!

Such narrow minded thinking will never get you rich
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So 15 a month interest does not amount to a hill of beans!

Such narrow minded thinking will never get you rich


That's $180 a year. That'll get you a better looking hooker.

PSU
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Yea true but... hookers should come out of my fun money. And being that I'm trying to drink/party less I should have pleny of money for those anyway.
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* uncreative not "narrow-minded"
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<<.... $2000 to be exact.
>>c


My condolences. There are reasonable reasons for going into debt, I hope you chose wisely.

Outside of the twelve years it took me to pay off the mortgage on my house, and the ten years it took to pay off a rental house (to say nothing of a second rental house I paid cash for) I doubt I've paid $15 in interest charges in my life (at age 66).



Seattle Pioneer
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The point I was making is that my credit card debt interest and the fact that you paid never paid interest -- doesn't really amount to hill of beans in the grand scheme of things. All that matters is how much you make.
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The point I was making is that my credit card debt interest and the fact that you paid never paid interest -- doesn't really amount to hill of beans in the grand scheme of things. All that matters is how much you make.

I think what matters is how much you keep, not how much you make.

PSU
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So 15 a month interest does not amount to a hill of beans!

Such narrow minded thinking will never get you rich



I like the cut of your jib.
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.... $2000 to be exact.
I don't know what the interest is but I pay 15 dollars a month in interest.


If you are paying no principal, which a few cards allow, and assuming you are 40 years old, then you will pay $9000 in interest on this $2000 debt before you die.

If you are paying $15 a month principal along with the $15 interest, you will have paid over $3000 for the privilege of owing $2000 before you have paid it off.

Personally I'd rather have a bigger TV, a motorscooter, or a vacation to Prince Edward Island rather than monthly reminders from the credit card company that they want more money, but maybe that's just me.
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" I doubt I've paid $15 in interest charges in my life (at age 66)."

A bit younger than you, but with regards to credit cards, both my wife and I too have paid zero $ in credit card interest in our entire lives.
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If you are paying no principal, which a few cards allow, and assuming you are 40 years old, then you will pay $9000 in interest on this $2000 debt before you die.



W
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I think what matters is how much you keep, not how much you make.

PSU

</>

This is baloney. It's going to be a whole lot easier to save if you make 100k and up than if you make 30k. Heck I used to save every penny when I was making 30k right out of college and managed to save the same amount now without even trying in 1/6 the time.
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This is baloney. It's going to be a whole lot easier to save if you make 100k and up than if you make 30k. Heck I used to save every penny when I was making 30k right out of college and managed to save the same amount now without even trying in 1/6 the time.

This is a reasonably valid point......if you're willing to gift money to unknown entities with no feedback from them by way of a thank you etc.

I've made far more than *100k and up* for a few decades (and not even counting my husband's contribution) It still sticks in my craw to gift away even as much as $10/month to an unknown entity who's done nothing to earn it.

Even my library fines of 75c or so I consider a tax on my STOOPID

You're good value for teaching material, Slick
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This is baloney. It's going to be a whole lot easier to save if you make 100k and up than if you make 30k. Heck I used to save every penny when I was making 30k right out of college and managed to save the same amount now without even trying in 1/6 the time.

It is easier to save when you make $100k than if you make $30. But you'll still save more at $100k if you keep more instead of having unnecessary expenses. Paying interest is an unnecessary expense unless your investment returns are higher than your interest costs. But hey, it's your money. If you want to flush it down the toilet, go ahead.

PSU
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This is baloney. It's going to be a whole lot easier to save if you make 100k and up than if you make 30k. Heck I used to save every penny when I was making 30k right out of college and managed to save the same amount now without even trying in 1/6 the time.

Higher taxes and higher expectations can make it very easy to increase spending do match higher income.
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You all are assuming I'm buying flat screen tv's and granite countertops with the money. I bought silver bullion with it and home insurance for my condo. Im taking a page out of the govt book by buying commodities with expensive dollars in debt and paying it back cheaper inflated dollars. Heck if you can't beat them join them and if they refuse to go on monetary system that isn't backed by anything then you might as well go on your own personal gold standard. "Saving " I suppose is important but no if you're fretting library fines you're playing in the shallow end of the pool... No beer make homer something something
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You all are assuming I'm buying flat screen tv's and granite countertops with the money. I bought silver bullion with it and home insurance for my condo. Im taking a page out of the govt book by buying commodities with expensive dollars in debt and paying it back cheaper inflated dollars. Heck if you can't beat them join them and if they refuse to go on monetary system that isn't backed by anything then you might as well go on your own personal gold standard. "Saving " I suppose is important but no if you're fretting library fines you're playing in the shallow end of the pool... No beer make homer something something

I make no assumptions at all. Your plans assume silver prices will increase in the future and you can sell your silver at a profit. While paying back your purchase with cheaper inflated dollars, you may also exchanging it (selling) for cheaper future dollars.

Good luck. I think the flat screen TV would be more fun.

PSU
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@ PSU

So then let's pretend it was a flat screen tv. Same argument

The point is 15$ a month interest is nothing

Yes unneeded expenses will hold you back from retiring but, do you you really need much of anything that you buy month in and out?

Where do you draw the line?
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Where do you draw the line?

=======================

When the percent interest I'm paying is more than the percent interest I'm earning.
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"Paying interest is an unnecessary expense unless your investment returns are higher than your interest costs."

Spot on.
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Spot on.

======================

Not a spot...it's a line. ;-)
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"higher expectations"

Higher expectations raised by whom?
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@ Inconclusive

Expectations raised by you. Is your next car going to be that pinto you drove in high school?
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"Expectations raised by you. Is your next car going to be that pinto you drove in high school?"


Did you see my recent post on a different board about the new cars I've purchased since my first full time job out of college, way back in the day? Here are the details as previously posted:

1982 Toyota Tercel - $6.2K
1988 Toyota Corolla - $10.8K
1994 GEO Prizm - $14.8
2001 Honda CR-V - $19.1K
2011 Honda CR-V - $23.6K

Total cost $74.5K; average cost $14.9K

So I would say my vehicle expectations, inexpensive and dependable, not changed at all in thw last 30+ years. Have yours?
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Go ask what's her name then -- she wrote it. I could care less.
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I could care less.

How much less could you care?

PSU
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Have to give it to Slick.......dude's got stamina (I see *dude* as a word that's gender neutral BTW.....)

"Saving " I suppose is important but no if you're fretting library fines you're playing in the shallow end of the pool...

Reasonable take......up to a point. My take is that, if you're dycking around with a debt that you could easily pay off......especially if it hasn't been generated by a big screen TV etc. etc.......you may well be the person who's playing at the shallow end of the pool (which I have, BTW......all 30K gallons of it)

Full confession......I've had credit card debt. So much so that I managed to max out our credit card with a $5K limit. Mid 1980s......new immigrants, me very homesick, 5 trips back to the UK between April and Christmas. It gives me a heck of a lot of butt hurt to think about it now.....and I give my husband periodic earache for indulging me. His response, it kept you sane.

I call it my education in finance and a return to frugal living.......and a tax on STOOPID. It was also outrageous fun spending and not something I've ever try to gussy up as a worthwhile investment strategy.

Some things are just plain silly.......but like I always say, sometimes there's a better learning experience for regular folk to be had by reading what those who're DOIN' IT 'RONG are up to rather than rational explanations or the ultra focus that a handful of contributors to this board can hack
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My take is that, if you're dycking around with a debt that you could easily pay off


I paid it off yesterday. Only because I didn't feel like wasting time keeping up with the payments etc. It doesn't really matter much though.
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And how come known of you all have your CAPS pages filled out?
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And how come known of you all have your CAPS pages filled out?

I couldn't care less about CAPS.

PSU
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And how come known of you all have your CAPS pages filled out?

I couldn't care less about CAPS.


I don't understand the question...
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I don't understand the question...

http://caps.fool.com/?source=ifltnvsnv0000001
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Does that mean you're not stock pickers or can't be bothered filling it out and competing?
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And how come known of you all have your CAPS pages filled out?


It looks like I typed that that phonetically. It should have read: how come none of you all have your CAPS pages filled out?
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Does that mean you're not stock pickers or can't be bothered filling it out and competing?

I own individual stocks. I have no need to compete on TMF.

PSU
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@PSY

You know you're wrong grammatically on that "couldn't care less..."
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You know you're wrong grammatically on that "couldn't care less..."

No I'm not unless you do care a little.

PSU
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Does that mean you're not stock pickers or can't be bothered filling it out and competing?

I don't feel any need to spend time "competing"
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I don't feel any need to spend time "competing"


1. it's not that hard or time consuming to fill out the CAPS page. It should take about 30 seconds.
2. it's not really competing. It serves as a good proxy for yourself insofar as your stocks are concerned. I like checking it to see where I am in my investments. I.e. where a stock was when I first bought it compared with now.
3. You never answered the question if you actually own stocks.
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It also serves as a good BS detector if someone is bragging about their stocks when they got nothing to showing on the CAPS page. Not to mention a good BS-detector for know-it-alls in general. I mean you may sound like you know what you're talking about -- but how do I really know?
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It serves as a good proxy for yourself insofar as your stocks are concerned. I like checking it to see where I am in my investments. I.e. where a stock was when I first bought it compared with now.

I do that at my discount broker.

PSU
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It also serves as a good BS detector if someone is bragging about their stocks when they got nothing to showing on the CAPS page. Not to mention a good BS-detector for know-it-alls in general. I mean you may sound like you know what you're talking about -- but how do I really know?

Why do you think everyone on CAPS has the stocks they own as part of their CAPS portfolio? CAPS is like play money in an online poker game. Big risks for big rewards which may lead big failures. I am more cautious at a Las Vegas poker table than I am with my neighbors playing quarter poker. For me, CAPS and my real money portfolio would have different purposes.

PSU
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2. it's not really competing. It serves as a good proxy for yourself insofar as your stocks are concerned. I like checking it to see where I am in my investments. I.e. where a stock was when I first bought it compared with now.

All that information is in my brokerage accounts and Quicken. I have no need of a third location.

3. You never answered the question if you actually own stocks.

I own a set of diversified assets: individual stocks, mutual funds, muni bonds, corp bonds and CDs.
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CAPS is like play money in an online poker game


True but still better than nothing. While I find it strange that people have 170+ stocks in the caps page -- and obviously have little to no money in them -- I find it equally odd how some engage in a discussion about all the money they made in stocks, but don't have the page filled out.
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I find it equally odd how some engage in a discussion about all the money they made in stocks, but don't have the page filled out.

Then why isn't it equally odd that you don't list the stocks you own in your profile?

PSU
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Then why isn't it equally odd that you don't list the stocks you own in your profile?


I don't even know what you're talking about. But I have my caps page filled out. Those are stocks I own/have my money invested it.
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I don't even know what you're talking about. But I have my caps page filled out. Those are stocks I own/have my money invested it.

In your profile, there is a section in Investing Basics where you can list "Stocks I own". If I wanted to know what stocks someone owns, I go to see if they list it in their profile, not their CAPS page. Most people I know do not treat CAPS as a place to list the stocks they own.

Since TMF employees are required to list the stocks they own, I'll use one as an example. Below is a link to TMFRaleigh's profile where he has a huge list of stocks he owns.
http://my.fool.com/profile/TMFRaleigh/info.aspx

Here is his CAPS page where he lists 9 stocks.
http://caps.fool.com/player/tmfraleigh.aspx

If I wanted to list the stocks I owned, my first choice is my profile, not my CAPS page.

PSU
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If I wanted to list the stocks I owned, my first choice is my profile, not my CAPS page.


Well I did not know that. But the caps page is better anyway since it is more like a report card. With the profile who knows what price you bought it at?
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With the profile who knows what price you bought it at?

I know, and I don't see any value to me for you knowing.
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What value do you get from the advice you give here (rather dogmatically I might add)?

I know thing or two about this game and my CAPS page says so.
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Well I did not know that. But the caps page is better anyway since it is more like a report card. With the profile who knows what price you bought it at?<?I>

Sure, if I limited CAPS to only my stocks and I was concerned about beating someone else's return in a message board debate. But I am not concerned with those things. My only concern is "do I have enough to retire". Nobody else here is part of that decision.

PSU
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Dp you need a ruler ?
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I know thing or two about this game and my CAPS page says so.

Your posting history also says a lot about your financial acumen. Did you ever buy that Porsche you couldn't afford?
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How do you know I can't afford it?
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Thanks for that. Who are you again?
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How do you know I can't afford it?

Here's the thread where you asked: http://boards.fool.com/should-i-get-a-car-payment-31910291.a...

The title of your initial post was "Should I get a car payment?"

AJ
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So, I post nothing on CAPS. It would take too long to list the S&P 500, all the funds in an international indexs or the small cap indexes. There are some individual stock holdings, but its not worth updating them as they change.

I've made (and lost) a lot of money picking stocks,particularly small cap pharmaceuticals. My only advice to you is consider using stop loss orders.

I'm on track to meet my retirement goals, my wife is happy, and my kids future is secure. My penis of of roughly average length, my house and car are boring.
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That was 2 years ago. Not to mention there is a lot to that story. Further I don't think not buying a car with cash automatically precludes you can not afford it.
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If you need to know the absolute all time best stock purchase ever, you can find repeated reference to a certain Zycad purchase all over this website. I'd venture that knowing that info has not helped a single person who had to come across it.
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Then what is the point of being a fool and being on this forum then?

It says "Investors Helping Investors Beat the Market" right across the top in bold, yellow font.

There are plenty of other boards like money moustache or whatever that advocate index investing and spending little money to retire.
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Not that I want to send any traffic to money moustache doosh.
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You all are assuming I'm buying flat screen tv's and granite countertops with the money. I bought silver bullion with it and home insurance for my condo. Im taking a page out of the govt book by buying commodities with expensive dollars in debt and paying it back cheaper inflated dollars. Heck if you can't beat them join them and if they refuse to go on monetary system that isn't backed by anything then you might as well go on your own personal gold standard. "Saving " I suppose is important but no if you're fretting library fines you're playing in the shallow end of the pool... No beer make homer something something


I wasn't assuming that. But in fairness, I also didn't think you were buying up metal with the money either.

We live on a gigantic metallic rock, you're aware of that, right? So, you can pretty much get all the rock and metal you want anytime you want.

But hey, courses for horses, right? Enjoy that shiny stuff
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I don't know what that means but, if I had to guess... is this more of that precious metals aren't worth anything nonsense?
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I don't know what that means but, if I had to guess... is this more of that precious metals aren't worth anything nonsense?


You know what it means, you seem to be relatively smart. Of course they're worth something, just like anything else.

Items are worth whatever you pay for them. For example, these sneakers I'm wearing are worth $125.
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I don't know what that means but, if I had to guess... is this more of that precious metals aren't worth anything nonsense?

I still don't understand the CAPS question so don't feel bad (I understand even less after this series of posts) but I think I have a take on this...

Precious metal prices are very volatile and fluctuate in a way that a savvy investor.....a savvy investor, remember.....shouldn't bet the farm on. I know this because back in my different life (as a dentist) I had good cause to be aware of the prices of these commodities because they made a day-to-day difference in how much I paid to my various suppliers of commodities and services.
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VeeEnn,

You wrote, Precious metal prices are very volatile and fluctuate in a way that a savvy investor.....a savvy investor, remember.....shouldn't bet the farm on. I know this because back in my different life (as a dentist) I had good cause to be aware of the prices of these commodities because they made a day-to-day difference in how much I paid to my various suppliers of commodities and services.

I don't suppose you used futures or options contracts in your business to hedge against those fluctuations? You may not have been dealing with enough of it to be worthwhile; but it's a strategy larger operations employ to hedge against things like fuel prices.

BTW, I generally don't do anything with CAPS either. I think I entered my one (intentionally) short-term trade (short LL last year, and that was actually a combination of stock and option positions that I believe out-performed my CAPS record) I've done in recent years; but looking at my CAPS profile today it seems that it no longer has that trade. Oh well. Made me look...

I don't bother messing with CAPS because most of my investments are kind of boring. And I'm not sure I'd want to share anything exciting I find. After all they're often fairly thinly traded issues and publicizing them isn't to my advantage - at least not until after I'm done with the trade. Also I'm not sure I'd want any slack from people if I did badly on a trade and they were following me. I could put my investment club's trades on there ... but why?

I played with online play-money stock competitions back in the late '90s and early '00s; but that was before I had any real experience or any real money. I suspect most people that have both don't mess with it ... except for a few that want to experiment with some "crazy" strategies that would either make it big or wipe them out. After all, it was almost always people that chose penny stocks or options that "won" those competitions I participated in back in the '90s; but there was no way I was going to follow what they were doing publicly.

- Joel
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Items are worth whatever you pay for them

True. But the difference with precious metals is that you can price goods in them.

Why prove things in dollars? I price things in weight. Your sneakers cost 1/10 an oz of gold. What sneakers are they anyway?
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Not to mention I did not tell you there are planets full of sneakers you know; the implication being that why pay 125$ for something infinite in supply. Which I would take to mean makes it worthless.
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True. But the difference with precious metals is that you can price goods in them.

You can price goods in anything, my friend; you know that.


Why prove things in dollars? I price things in weight. Your sneakers cost 1/10 an oz of gold. What sneakers are they anyway?


Mostly convenience, I guess; everybody takes cash. But I take your point, things can be priced in pretty much whatever we want.

The sneakers are Curry 2.5s; I like 'em.
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UA is making some expensive kicksfor sure.

"Goods can be priced in anything .... You know that"


No I am not sure...like are we really going back to the days of pricing things in tobacco from over 300 years ago or whenever?
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If you are going to price things in gold weights, then yes, tobacco-pricing would be exactly the same. There were some barter exchange stocks that were doing well for a bit at the market crash that I'd like to have seen done better....
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"Tobacco pricing would be exactly the same..."

Where are you going to do that in a prison yard?
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No I am not sure...like are we really going back to the days of pricing things in tobacco from over 300 years ago or whenever?


I don't know, man. It's no more or less random than your previous proposal a few posts back.
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I don't know, man. It's no more or less random than your previous proposal a few posts back.



I used to price things in lap dances also.
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I used to price things in lap dances also.


That's cool.

How much did you charge?
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I was a getter not a giver.
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I was a getter not a giver.


I see. Well, I'm sure the dancer's were happy to receive a shiny rock for their trouble.
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