crs223
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Posts posted by crs223
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8 hours ago, Spekulatius said:
incapable of change
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2 hours ago, wabuffo said:
I once got a loan from Toyota to buy a car. the loan was “immediately” issued through Wells Fargo. I doubt Toyota of Springfield originated the loan and immediately sold it to WFC.
As a matter of fact, the Toyota of Springfield probably did originate the loan through Toyota's finance subsidiary -- Toyota Motor Credit Corporation (10-K here):
https://www.sec.gov/ix?doc=/Archives/edgar/data/834071/000095017023026012/ck0000834071-20230331.htm
Your loan is technically called a retail installment sales contract and is financed by TMCC on behalf of the dealership. It's why its called an indirect loan or finance receivable.
Continuing through this process, Toyota Motor Credit Corporation then probably packages your loan in one of its Toyota Auto Receivables Trusts like this one:
https://www.sec.gov/Archives/edgar/data/1131131/000092963817000824/a71121_424h.htm
The servicer of this Trust is Wells Fargo who services these installment contracts and is the "face" to the borrower in terms of payment of principal and interest. Wells Fargo does not own the loan of course, they merely service it and administer the securitization trust.
Perhaps your situation was different but the process I'm laying out is pretty standard for the industry.
Bill
I need to stick to my day job writing software… thanks Bill!
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On 6/10/2023 at 1:00 PM, gfp said:
Didn't hear them worry about "inflation" a single time
this is true but also keep in mind these guys had an agenda: if the fed lowers rates (due to waning inflation or otherwise), the banks will get a “boost”.
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11 hours ago, wabuffo said:
This is why for example, you are seeing some banks exiting indirect auto lending (bank buys the auto loan rather than originates it)
I once got a loan from Toyota to buy a car. the loan was “immediately” issued through Wells Fargo. I doubt Toyota of Springfield originated the loan and immediately sold it to WFC.
I assumed this is what the podcast was talking about.
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going forward, i hope they shut off the power whenever the wind speeds exceed 20 mph.
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I feel totally “blessed” but not rich. i love my job. ride my bike to work (10 miles each way), have no car (wife does), play basketball three times a week during the work day, and can buy everything i want (but i’m happy with an ancient iphone and a bike). Bonus: company is employee owned and I’ve got 1% of it… i feel like i own the place. double-bonus: i’m in Santa Barbara.
perhaps i’m just deluding myself, but I believe my job is the source of most of my day to day happiness. keep the delusion going!
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7 hours ago, Ross812 said:
The topic question is difficult to answer. Take travel for instance:
1. You drive because air travel + car rental is expensive (working/middle class)
2. You fly budget airlines (working/middle class)
3. You fly economy (middle class)
4. You upgrade your economy tickets with more expensive seats (middle class/wealthy)
5. Only fly business class (wealthy)
6. Only fly first class (wealthy)
7. Only fly private (rich)
that’s a fun list. also fun: consider what that list looked like 100 years ago. everybody is rich today! comical at the airport how livid people get about their delayed flight….most powerful emperor not too long ago would have paid anything for a seat on that delayed flight!
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How does the govt calculate financial aid for kids going to college? is quitting your w2 job before college a viable strategy? how does govt decide who is eligible?
Id love to get free college, electricity, healthcare, etc in exchange for quitting my job! ha! I bet i could get some housing subsidies too. $California!
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2 hours ago, Parsad said:
Chinese debt load:
https://www.cnn.com/2023/05/29/economy/china-wuhan-local-debt-crisis-intl-hnk/index.html
Cheers!
They could try this: kidnap Alibaba’s CEO then demand a few billion in “common prosperity” reparations.
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On 5/27/2023 at 6:16 AM, SharperDingaan said:
west' is a waning global power, and 'China' a rising one; both sides use propaganda to rally the troops
I disagree that US uses propaganda.
US schools don’t say the pledge of allegiance, half the country openly hates whichever president is in power, and a good chunk think US is rotten/evil/racist to its core.
China disappears people that say the banking system needs reform.
My guess is that there is a benefit to blind/brainwashed allegiance to a country, but that could just be my propaganda talking: united we stand, divided we fall.
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28 minutes ago, Spekulatius said:
Being scared is better than being ignorant of a real threat.
I agree.
China is strong and US is right to be scared/reactive/proactive. China is not going to slunk away — despite poor demographics, human atrocities, IP theft, and other common criticism.
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China is a strong country and it is getting stronger, both financially and militarily. This is very upsetting to the US and many Americans.
Attacking Luca as a communist because he doesn’t share your hysteria to Chinese atrocities is disgusting, IMO.
How wonderful it is for the Chinese that we are caught up calling each other communists/transphobes/etc instead of doing anything impactful.
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3 hours ago, Luca said:
If Chinas economy goes to 0 that means
The US thinks China is not just a threat, but a growing threat.
if there were any evidence China is in decline, the US would not be waging economic/tech war.
US actions send a clear message: “China is getting more powerful and the US is scared.”
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US stance against China (chip/tech) is because China is a threat. China is getting stronger. This is obvious to me at least.
If it turns out that US stance against China is the right thing (aka it improves the position of the US in the long term) then i will be blown away and gain newfound respect for our politicians. I hope this is the case.
China is pumping out well disciplined STEM grads at 10x the rate of US. US students are focused on proper pronouns and denouncing their own country.
Has the US done enough homework that it has figured out to strategically hurt China in the long term? Is “chip exports” the silver bullet? If so, I will give high praise to US leaders. I would love to be a fly on the wall of the CCP to understand the true impact of chips/Apple/etc.
I don’t see how ethnic imprisonment or COVID are related to any of this “cold war”. I doubt the generals/IC/politicians care one bit about the victims.
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17 minutes ago, Spekulatius said:
Let's also not forget the Chinese posture and maneuver after Pelosi's island visit.
I’ve already forgotten what the Chinese response was.
The “island visit” was blatant antagonism. Not saying the US was wrong, but let’s call it what it is.
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3 hours ago, Spekulatius said:
I had a conversation with a fellow who manages people for an US company in the semi space. They have dramatically reduced their business there and let people go and moved operations to the Philippines.
He said one thing - there are a lot of underemployed people in tech in China, especially younger ones and in tech/engineering. When you read some articles, the unemployment rate is almost 20% there. He think there is a lot discontent with the CCP party and Xi Jinping there amongst the younger generation that might at some point bubble up and cause unrest. He thinks it’s just a matter of time.
question i would ask your friend: “what mistake would these unemployed attribute to CCP? Punishing BABA and shareholders? COVID lockdowns? losing american customers?”
I would ask that to get a sense of what the CCP might improve to stave off more protests.
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after watching the DJCO meeting, i bought the smaller box of peanut brittle and polished it off over 24 hours. Then a headache developed that lasted four days. I’ve never had anything like that happened to me. Pretty scary. Not doing that again.
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15 hours ago, adesigar said:
Don’t know what those countries expected.
That was an excellent article, thank you for sharing. Might be the best news article i’ve ever read — packed with information — i never knew how all this worked.
Sounds like China sent a message to all their banks: make loans to these countries. Now that the loans are going bad, the banks don’t want to, and perhaps cannot stand to, take losses. Perhaps the CCP will help with a bailout… or perhaps BABA-style just order the banks to pay up. Also interesting how this plays into the international community with the secret “first in line” manipulations.
Wow… are all fortune articles like this?
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3 hours ago, sleepydragon said:
Imo, China is a fine country. A lot of smart want to make money and had achieved a lot. Unfortunately at this moment some of the dumbest people are running the country.
That could be said for any country, state, county, city, or even company.
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10 hours ago, Luca said:
Nowhere more universities, nowhere more engineering graduates
Scary. What can US do besides complain about human rights abuses and patent infringement. We hear that the birth rate is going down… but they’ll pop out 100 million new STEM grads while we wait for that.
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9 hours ago, Spooky said:
But what is the incentive to innovate / invest? What is the point of putting money into R&D to develop something new if all of the competition can just steal it
Unfathomable that non-american-behavior could succeed, yet here we are. Each decade china getting stronger while US scratches its head.
Maybe they’ll implode soon “USSR Style”.
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What a shame that all that knowledge just disappears.
Same with people retiring… brains just fill up with so much experience and then poof they are gone.
Thank you for being a great teacher Sam!
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i can understand that Apple would have a hard time becoming a bank and creating money out of thin air.
But would apple have a hard time doing what VISA does? AFAIK VISA develops POS terminals and facilitates secure authorizations and transactions between banks and merchants.
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according to the graphic, teen deaths from all sources went up. even teen deaths from COVID, car accidents, guns, suicide and poison.
I don’t see how the common root cause is TV or guns.
China
in General Discussion
Posted
I don't see why Xi has to figure out how the US does things in order to lead his country.
Even so, I doubt Xi is dumb or otherwise incapable of understanding any complex topic, including "how the free markets operate".