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The financial crash and Ebay

85 posts in this topic

That has happened to me as well. Who else sees this.............

 

Another point to remember is that Ebay has become less friendly for sellers. They have raised fees, made their site more complicated to use and the increase of fraud has sent serious buying $$ to consignment sites like Comiclink, Comicconnect and Pedigree auctions...and looking at those sites there has been no shortage of money or material. They are breaking records with every auction.

 

Just another thought.

 

R.

 

 

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Okay. Some random thoughts concerning the market:

 

The only person who gets hurt on a roller coaster is the one who jumps off.

 

This is a fart in the market. A big stinky fart for sure, but still just a fart. What your nephew would call a "Whopper". Would you leave a football game because the guy next to you farted, or do you just put up with the stink until it goes away?

 

The market ALWAYS drops and then comes back stronger. ALWAYS.

 

If I am wrong, what are you out? What you don't have anyway?

 

The loss of 1 trillion is a paperwork thing. The stock market is gambling. Period. If you didn't want to gamble, why wasn't your money in a guaranteed return fund?

 

If you go all in with a King high flush, you might lose to an Ace high flush.

 

I am glad that I have a lot of money in Golden and Silver Age comic books. Very glad. Some are advertising "Stock Market Crash Sales", but their prices don't look like they are giving a HUGE break, but some break.

 

This might be a great time to buy comics. I have bought more this month than I have in any month since about 2003.

 

Heard on the radio today that Paramount Pictures bought the rights to make Iron Man #3, The Avengers Movie and the Captain America Movie. These characters books are going up, along with Spidey and Batman (and perhaps Supe), no matter what the market does.

 

When some lose money and value, someone else makes money and value from that problem.

 

This whole mess started with Barney Franks, Jimmy Carter, Maxine Waters, etc. They forced the lending institutions to lend money to illegal aliens, without requiring them to provide proof of earnings nor even proof of identification. Along with forcing lending institutions to loan money to poor people who did not and could not pay their mortgages, just to buy the votes and/or backing of minority and poor people advocate organizations. It is a fact and a matter of record. Even Bill Clinton stated just yesterday that the Democrates hold "some" blame for not letting him and the put in better regulations.

 

But, most people have blinders on when it comes to their religion and political affiliations, so I am wasting my breath. Besides the fact that this posting will be deleted shortly.

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Okay. Some random thoughts concerning the market:

 

The only person who gets hurt on a roller coaster is the one who jumps off.

 

This is a fart in the market. A big stinky fart for sure, but still just a fart. What your nephew would call a "Whopper". Would you leave a football game because the guy next to you farted, or do you just put up with the stink until it goes away?

 

The market ALWAYS drops and then comes back stronger. ALWAYS.

 

If I am wrong, what are you out? What you don't have anyway?

 

The loss of 1 trillion is a paperwork thing. The stock market is gambling. Period. If you didn't want to gamble, why wasn't your money in a guaranteed return fund?

 

If you go all in with a King high flush, you might lose to an Ace high flush.

 

I am glad that I have a lot of money in Golden and Silver Age comic books. Very glad. Some are advertising "Stock Market Crash Sales", but their prices don't look like they are giving a HUGE break, but some break.

 

This might be a great time to buy comics. I have bought more this month than I have in any month since about 2003.

 

Heard on the radio today that Paramount Pictures bought the rights to make Iron Man #3, The Avengers Movie and the Captain America Movie. These characters books are going up, along with Spidey and Batman (and perhaps Supe), no matter what the market does.

 

When some lose money and value, someone else makes money and value from that problem.

 

This whole mess started with Barney Franks, Jimmy Carter, Maxine Waters, etc. They forced the lending institutions to lend money to illegal aliens, without requiring them to provide proof of earnings nor even proof of identification. Along with forcing lending institutions to loan money to poor people who did not and could not pay their mortgages, just to buy the votes and/or backing of minority and poor people advocate organizations. It is a fact and a matter of record. Even Bill Clinton stated just yesterday that the Democrates hold "some" blame for not letting him and the put in better regulations.

 

But, most people have blinders on when it comes to their religion and political affiliations, so I am wasting my breath. Besides the fact that this posting will be deleted shortly.

 

 

You're absolutely right in terms of political parties -- plenty of blame to go around!

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I think to start with, the problem was that so many millions of honest hardworking people decided to put all their money into other people's hands to work for them, and then these same millions of people simply believed their money would be there waiting for them after decades. How can anyone guarantee to you or I what will happen tomorrow. They can't.

 

I personally saw through that years ago and decided not to put a single penny into anything intagible. I'm feeling pretty good about that right now.

 

(shrug)

 

I don't mean to be flippant.

 

What is happening really sucks but in reality the only way the average consumer can help is to continue to spend. I could be wrong as I'm not educated in money markets but that is my logic telling me what would be the best thing right now. If everyone bottles up spending and starts selling everything off you just add to the problem, don't you?

 

Correct me if I'm wrong.

 

 

 

R.

 

 

that's the long and short of it, I agree. I've had no use for the stock market either. If you've got a mortgage like most people do the best thing you can do is just pay it down quicker. Guaranteed RISKLESS AFTER TAX return of 5 or 6% is way better than anything the market can do for you.

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I think to start with, the problem was that so many millions of honest hardworking people decided to put all their money into other people's hands to work for them, and then these same millions of people simply believed their money would be there waiting for them after decades. How can anyone guarantee to you or I what will happen tomorrow. They can't.

 

I personally saw through that years ago and decided not to put a single penny into anything intagible. I'm feeling pretty good about that right now.

 

(shrug)

 

I don't mean to be flippant.

 

What is happening really sucks but in reality the only way the average consumer can help is to continue to spend. I could be wrong as I'm not educated in money markets but that is my logic telling me what would be the best thing right now. If everyone bottles up spending and starts selling everything off you just add to the problem, don't you?

 

Correct me if I'm wrong.

 

 

 

R.

 

 

that's the long and short of it, I agree. I've had no use for the stock market either. If you've got a mortgage like most people do the best thing you can do is just pay it down quicker. Guaranteed RISKLESS AFTER TAX return of 5 or 6% is way better than anything the market can do for you.

 

It is a bit different in the States. I don't believe y'all in Canada can deduct your mortgage interest from your federal income tax, can you? Here home mortgage interest is tax-deductible, so in essence you get a government subsidy of any debt tied to your home. Yet another incentive for the US real estate bubble (though a very long-lived incentive that pre-dates the sub-prime mess by many decades).

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Okay. Some random thoughts concerning the market:

 

The only person who gets hurt on a roller coaster is the one who jumps off.

 

This is a fart in the market. A big stinky fart for sure, but still just a fart. What your nephew would call a "Whopper". Would you leave a football game because the guy next to you farted, or do you just put up with the stink until it goes away?

 

The market ALWAYS drops and then comes back stronger. ALWAYS.

 

If I am wrong, what are you out? What you don't have anyway?

 

The loss of 1 trillion is a paperwork thing. The stock market is gambling. Period. If you didn't want to gamble, why wasn't your money in a guaranteed return fund?

 

If you go all in with a King high flush, you might lose to an Ace high flush.

 

I am glad that I have a lot of money in Golden and Silver Age comic books. Very glad. Some are advertising "Stock Market Crash Sales", but their prices don't look like they are giving a HUGE break, but some break.

 

This might be a great time to buy comics. I have bought more this month than I have in any month since about 2003.

 

Heard on the radio today that Paramount Pictures bought the rights to make Iron Man #3, The Avengers Movie and the Captain America Movie. These characters books are going up, along with Spidey and Batman (and perhaps Supe), no matter what the market does.

 

When some lose money and value, someone else makes money and value from that problem.

 

This whole mess started with Barney Franks, Jimmy Carter, Maxine Waters, etc. They forced the lending institutions to lend money to illegal aliens, without requiring them to provide proof of earnings nor even proof of identification. Along with forcing lending institutions to loan money to poor people who did not and could not pay their mortgages, just to buy the votes and/or backing of minority and poor people advocate organizations. It is a fact and a matter of record. Even Bill Clinton stated just yesterday that the Democrates hold "some" blame for not letting him and the put in better regulations.

 

But, most people have blinders on when it comes to their religion and political affiliations, so I am wasting my breath. Besides the fact that this posting will be deleted shortly.

 

 

Condition, are you kidding us with this simplistic version of whats going on?? Have you read any books whatsover on these issues?? If not, I can send you plenty as I own a bookstore and would love to inform you of how it really started. There are many villains in this whole mess: 1.every single greedy person trying to flip houses, while acquiring interest only loans. And why not? For many consecutive years it worked. 2. every single greedy person who bundled illegal mortgages (that worked at countrywide and many more) and sold them off to banks, only to find out that they inflated the price so much that they'll never retain their true value.

 

You honestly think everything around us happening is due to poor vagrant illegals, or perhaps it was the slick mortgage brokers that sold them on a bad loan?? Yes, how about some blame to those guys.

 

Who is smarter with money? A $500,000 a year MBA Harvard graduate, or the $20,000 average worker??? Yes, the MBA Harvard graduate. So then tell me, why are we bailing them out??

 

I'm not one of these naysayers, or doom n' gloom guys. I own a business, and am pretty aware of whats going on. I'm aware that I hear people in the grocery stores telling their kids that they cant' afford this and that. I'm aware that 4 of my friends have lost their jobs in the last month. And I'm pretty aware that your simplistic "The only one who gets hurt on a rollercoaster is the person who gets off" philosophy, if you can even call it that, wont' help the retiree who worked 30 yrs and just got told he can no longer retire, because some insufficiently_thoughtful_persons on wallstreet were too greedy.

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I think in the next two years you will see a lot of collections bought and sold. Sold by those who are unfortunate in losing their jobs, etc. And bought by the bigger fish who can not only afford these bad times, but take advantage of these bad times.

 

I get the feeling from several posts in various threads that there is a belief out there that the BSDs of the world are just coasting through this economic/financial downturn. Actually, nothing could be further from the truth - the wealthy own a disproportionate amount of the assets out there, almost all of which have gotten absolutely thumped this year. In addition, many of them used leverage (debt) to build their fortunes and now find themselves cash-strapped and facing tighter credit at a time when their underlying assets are plummeting in value and may be difficult to unload. :eek:

 

Believe me, the BSD who has just seen his net worth plunge from $20 million to $10 million is thinking about the $10 million he just lost, not the $10 million he still has. I have heard name-specific reports of at least 3 of the biggest BSDs in the comic and OA hobbies who have taken big hits recently and are cutting back or even selling, and have heard other reports, without names attached to them, of 5 and 6-figure deals being cancelled amidst the current market chaos. :whatthe:

 

This economic downturn and credit crunch is going to affect everything and everybody, whether directly or tangentially. :sorry:

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This is what happens when the majority of Americans the last decade care more about who wins American Idol then who the next President is.more people vote for the next American Idol winner then the President. This is what was also spawned from "I want my MTV" generation, the MTV generation was brainwashed into believing they all would grow up to be big rockstars and moviestars and were told to spend,spend spend just like them. America has lived in fantasy for the last 2 decades and now the reality of the credit is catching up to them. How about those dvd collections people spent thousands on? they are worthless toasters now.All that money that was given to Hollywood could have been in bank accounts. The American government is at fault but the majority of American people are also. charging a 1 dollar cup of coffee on your credit card is just stupid....

rantrant

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This is what happens when the majority of Americans the last decade care more about who wins American Idol then who the next President is.more people vote for the next American Idol winner then the President. This is what was also spawned from "I want my MTV" generation, the MTV generation was brainwashed into believing they all would grow up to be big rockstars and moviestars and were told to spend,spend spend just like them. America has lived in fantasy for the last 2 decades and now the reality of the credit is catching up to them. How about those dvd collections people spent thousands on? they are worthless toasters now.All that money that was given to Hollywood could have been in bank accounts. The American government is at fault but the majority of American people are also. charging a 1 dollar cup of coffee on your credit card is just stupid....

rantrant

 

 

:golfclap: This is the first post you made I agree with. And it is true that people have been trying to live beyond their means for some time. Everyone wants to be "ballers" but they cant afford it. Just stinks for people like me who tried to just be comfortable, and got the shaft because everyone else screwed up so bad.

 

And also I would bet more people in the age group of 18-30 watch the VMA's every year,then any election coverage.

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If you were at the Baltimore con this weekend, it seemed as if there was no problems w/ the economy. 99% of the sellers wanted full price or more for "really good" stuff...........

 

That said, I am worried about America's future......... :(

 

Let's see what happens six months from now. If things don't turn around, I think there will be lots of "bargains" around.

 

Oh, there are probably lots of bargains around right now, but it is not on good stuff. And it won't be anytime soon. The people who have money are not being affected by the credit crunch. The people who depend upon credit to buy everything and pay for everything may indeed feel the crunch.

 

Many of the old timers have told me that they have had some of their very best years during recessions. How did this happen? When money is tight for some, books become available and there is always someone willing and able to purchase those books.

 

 

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well, to answer the question, I just ended my best week on ebay in the past year... I try to run 50 or so auctions each week, mainly of overstock I might have, mixed in with some new or better items... my goal is to average $20 a piece, and to generate an extra $1K a week, etc...

 

I ran, for some reason, 71 auctions this week, and figured $1500... ended up with over $4K... some strong bidding... now, getting paid is a different story, but ebay has been just fine for me the past year (I was very stagnant selling on the bay before that), and I guess only time will tell.. and, keep in mind, I don't sell comics on ebay, but action figures and collectible statues and toys

 

as far as yesterday's 700 point plunge, my thoughts are in 10 years, we will remember this week the same as we remembered 1987 and 2001... corrections in the market are needed, and those that are sound financially, will benefit with time "in" the market (though, this is a good week to "time" the market if you have funds...even if you have to catch a falling knife for a little while)...

 

just my 2cents

gator

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I think in the next two years you will see a lot of collections bought and sold. Sold by those who are unfortunate in losing their jobs, etc. And bought by the bigger fish who can not only afford these bad times, but take advantage of these bad times.

 

I get the feeling from several posts in various threads that there is a belief out there that the BSDs of the world are just coasting through this economic/financial downturn. Actually, nothing could be further from the truth - the wealthy own a disproportionate amount of the assets out there, almost all of which have gotten absolutely thumped this year. In addition, many of them used leverage (debt) to build their fortunes and now find themselves cash-strapped and facing tighter credit at a time when their underlying assets are plummeting in value and may be difficult to unload. :eek:

 

Believe me, the BSD who has just seen his net worth plunge from $20 million to $10 million is thinking about the $10 million he just lost, not the $10 million he still has. I have heard name-specific reports of at least 3 of the biggest BSDs in the comic and OA hobbies who have taken big hits recently and are cutting back or even selling, and have heard other reports, without names attached to them, of 5 and 6-figure deals being cancelled amidst the current market chaos. :whatthe:

 

This economic downturn and credit crunch is going to affect everything and everybody, whether directly or tangentially. :sorry:

 

I see your points. And some of them are very good. But when you have people who will never see $5Million in a lifetime, it becomes irrelevant. The picture that most working class are painting is they did nothing wrong, and have lost what they worked so hard for. If you spent years at a company and were promised a pension, should you not get it ? The guys who ran the company may lose 50K,100K,1Mill or more but whose problem is that ? They should have made things secure before handing out raises and patting each other on the back.

 

You cant compare one to the other. If the guy who lost 10 Million was and is living modestly he should have plenty of money to survive. But a guy who was set to retire next month and just found out his 401K is worthless is in a slightly more serious situation. How do you retire after losing 50% of what was saved ?

 

There are tons of people to blame. But the major problem is that these people were never thought of. They just supply money to invest.

 

My job was one that was dictated by the market (Home Repair). As of last winter it started slowly folding in, people had less money tomake on repair/rennovations which hurt. NOW I just have no job after 17 years. What do I do ? And why should I really care what happens anymore. My family is so strapped for cash it really sickens me. So what do all the suit and tie guys think I should do ? Should I go get a new job making $13.00 and hour and not be able to pay my MINIMAL bills. Or should I just wait it out ? I have a wife who is now 5 months pregnant and she had lost her job, and now has to collect until the pregnancy is over at least. And even that doesnt cover much, pays for her medical insurance,school loan, and food shopping one week.

 

I really hope they do find a way out of this mess, because it is really trashing my quality of life.

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I understand NOTHING of economics. All I want to know is, will the $ slip back to "2 for 1" against the pound again? Because I love it when it does that (cheap books) :cloud9:

 

There was talk today of it slipping to $1.65 to the pound!

With the pound being reputed as the weakest currency in the Euro market right now...which to be honest I don't beleive.

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Believe me, the BSD who has just seen his net worth plunge from $20 million to $10 million is thinking about the $10 million he just lost, not the $10 million he still has. I have heard name-specific reports of at least 3 of the biggest BSDs in the comic and OA hobbies who have taken big hits recently and are cutting back or even selling, and have heard other reports, without names attached to them, of 5 and 6-figure deals being cancelled amidst the current market chaos.

 

Oh, God. Those poor, poor people... :sorry:

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Okay. Some random thoughts concerning the market:

 

The only person who gets hurt on a roller coaster is the one who jumps off.

 

This is a fart in the market. A big stinky fart for sure, but still just a fart. What your nephew would call a "Whopper". Would you leave a football game because the guy next to you farted, or do you just put up with the stink until it goes away?

 

The market ALWAYS drops and then comes back stronger. ALWAYS.

 

If I am wrong, what are you out? What you don't have anyway?

 

The loss of 1 trillion is a paperwork thing. The stock market is gambling. Period. If you didn't want to gamble, why wasn't your money in a guaranteed return fund?

 

If you go all in with a King high flush, you might lose to an Ace high flush.

 

I am glad that I have a lot of money in Golden and Silver Age comic books. Very glad. Some are advertising "Stock Market Crash Sales", but their prices don't look like they are giving a HUGE break, but some break.

 

This might be a great time to buy comics. I have bought more this month than I have in any month since about 2003.

 

Heard on the radio today that Paramount Pictures bought the rights to make Iron Man #3, The Avengers Movie and the Captain America Movie. These characters books are going up, along with Spidey and Batman (and perhaps Supe), no matter what the market does.

 

When some lose money and value, someone else makes money and value from that problem.

 

This whole mess started with Barney Franks, Jimmy Carter, Maxine Waters, etc. They forced the lending institutions to lend money to illegal aliens, without requiring them to provide proof of earnings nor even proof of identification. Along with forcing lending institutions to loan money to poor people who did not and could not pay their mortgages, just to buy the votes and/or backing of minority and poor people advocate organizations. It is a fact and a matter of record. Even Bill Clinton stated just yesterday that the Democrates hold "some" blame for not letting him and the put in better regulations.

 

But, most people have blinders on when it comes to their religion and political affiliations, so I am wasting my breath. Besides the fact that this posting will be deleted shortly.

 

 

Condition, are you kidding us with this simplistic version of whats going on?? Have you read any books whatsover on these issues?? If not, I can send you plenty as I own a bookstore and would love to inform you of how it really started. There are many villains in this whole mess: 1.every single greedy person trying to flip houses, while acquiring interest only loans. And why not? For many consecutive years it worked. 2. every single greedy person who bundled illegal mortgages (that worked at countrywide and many more) and sold them off to banks, only to find out that they inflated the price so much that they'll never retain their true value.

 

You honestly think everything around us happening is due to poor vagrant illegals, or perhaps it was the slick mortgage brokers that sold them on a bad loan?? Yes, how about some blame to those guys.

 

Who is smarter with money? A $500,000 a year MBA Harvard graduate, or the $20,000 average worker??? Yes, the MBA Harvard graduate. So then tell me, why are we bailing them out??

 

I'm not one of these naysayers, or doom n' gloom guys. I own a business, and am pretty aware of whats going on. I'm aware that I hear people in the grocery stores telling their kids that they cant' afford this and that. I'm aware that 4 of my friends have lost their jobs in the last month. And I'm pretty aware that your simplistic "The only one who gets hurt on a rollercoaster is the person who gets off" philosophy, if you can even call it that, wont' help the retiree who worked 30 yrs and just got told he can no longer retire, because some insufficiently_thoughtful_persons on wallstreet were too greedy.

 

Well. Actually things are quite simple. You gamble and sometimes you win and sometimes you lose.

 

If you put your eggs in the basket that has a potential return of a whole lot and did not put eggs in a basket that guaranteed a return of "enough", and you lose. Who's fault is that? The chickens? The farmer who owned the chickens that laid the eggs? Or the greedy S0B that put all or most of his eggs in the one basket?

 

Probably not a good anaolgy, but I think that you get the point. You want to lay some blame on the people or companies that, "perhaps it was the slick mortgage brokers that sold them on a bad loan??, well, there are always snake oil sellers. If someone buys snake oil that is supposed to cure everything from cancer to warts, all fo a dollar, then THEY are the insufficiently_thoughtful_person. Not the seller.

 

I could go on and on about these so called educated people out there that don't have a lick of sense, but why bother. They can cite more "books", more "stats", and more "theories" than I ever could.

 

I will just say these two things.

 

It is a known fact that Einstein frequently got lost on the college campus where he taught, because he was brilliant but didn't have a lick of common sense.

 

One of the greatest common sense persons of our times once said that he "would rather be governed by the first two hundred people in the phone book, than by the alumni of Harvard". Truth is, I am just remembering that quote and probably have the number and/or school wrong, but you get the idea. I get it...I am sure that you will look it up in one of your books and get back to me with corrections.

 

Simplistic? Yep. I'm just a hick from the sticks. But I haven't lost my money. Have you? And I have some. It's just never enough, is it?

 

These darn politicians, on both sides of the aisle, just care about their re-elections. Not about our pocket books. But one side of the aisle wants to re-distribute the wealth (like Robin Hood), and the other side undestands that we have the right to fail as well as the right to succeed. The former side (D's) believe that "if you vote for me, I will make sure that you will not and can not fail".

 

That policy is doomed from the inception of the thought. Do you really think that the world can go round, without a hawk eating a rabbit now and then? Or a Lion eating a lamb every so often? We can not assure everyone of a house, of a pension and of a meal. They have to assure that they earn those things on their own. Or they should be allowed to fail.

 

The U.S. is the most generous nation on the planet, when it comes to charity. I strongly believe in taking care of the sick and afflicted. But laziness, antipathy, unwillingness, alcoholism, drug addiction and bad choices are not afflictions. They are "choices".

 

The markets will rebound. You can bet on it. If they don't. I am sure that the (D's) will re-imburse your money. The will take it from me to give to you (they never take it from their own millions, only our thousands).

 

My best friend bought into this no money down, variable rate "spoon" and bought a house he could not afford. I worked on him for two years to re-finance, because I told him exactly what would happen. He did, and now he is sure glad. The payemnts were and are hard for him, but manageable. They would not be if he had stayed with the variable, etc. He is a minority and "they" (the lending institutions forced by the government) were practically giving away loans to minorities in Cleveland, without any proof of enough income to actually pay for the house, to anyone that walked in from the street.

 

I have a pension and investments also, but I ain't gonna cry if I just have to work more or harder to survive. I guess I am old school and I "just don't get it". So be it then.

 

As to reading books. Well, I collect books. I love to read. I have read enough to know that whatever angle you want to view any situation from, there are many books that will make the case that "your angle, your view point" is correct. I also have been in court many times and know that an "expert witness" can be found for any side of any argument or case. Heck, lay out something, anything, and I can find a writer who disagrees with your view point or agrees with your view point, all day long. We could discuss this all day long. This is probably not the right place to do it. I should start a blog. Which reminds me of something.

 

Bakc when I was still a cop, I ran a web site called "ClevelandCops.com". I know longer have that as I gave it up when I retired. But one of the stories I did on there, on my own. Was a story about how cell phone usage would increase the rate of barin cancer. I went in to how our police radio's came with warning labels that "you should be at least 6 feet away from the antennae when broadcasting", and that these radio's were 900 mhz. A microwave oven is 1400 mhz. A cell phone is 900 mhz. It just stood to reason that having something that powerful next to your head a lot would be a health hazard. I caught a lot of flack from the Police Department and other interested parties over my article, at that time. The department even tried to put me up on charges, assuming that I had used the departments computers for personal use. I hadn't and they couldn't. I guess that back then, they couldn't believe some hick cop actually owned a computer of his own and knew how to run a web site.

 

But I digress. Good luck with your monies.

 

Now recent studies are proving that out. I guess I was just lucky, again.

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