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Jamie Dimon says we might get to 6%

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  • edited February 2023
    Modern AWD are really FWD much of the time. But if any slippage is detected (e.g. by differences in wheel RPMs), the RWD portion kicks in. Some call this part-time 4WD or auto-4WD. The AWD designs vary too - some normally have front, rear split of 100%FWD, 0%RWD (until RWD needed), others have low constant splits, 70-90% FWD, 10-30% RWD (until more RWD needed).

    There are permanent AWD too where the front-rear split is fixed and never changes.

    The old 4WD were really 2WD/RWD until the car was stopped and 4WD was engaged.

    AWD was a PR term to avoid confusion with the old and clunky manual 4WD.

    Race cars tend to have RWDs. A principle of physics/engineering is that on acceleration, more weight shifts to the rear-wheels and that gives better racing traction. On braking, more weight shifts to front wheels, so that is why front brakes are typically larger, and may wear out faster.

    Sorry, none of this relates to Jamie Dimon. But this is just an addendum to the car discussion.
  • Great sketch from David. Sure resembles the classic ‘57 Chevy, prettiest car I ever owned.

    Which model? Even without seeing the sketch (blocked), I can tell from the URL that it is the high end Bel Air. There were two other models, the 150 and the 210.
    https://www.hagertybroker.ca/apps/valuationtools/search/Auto/1957/Chevrolet?type=5&bodytypegroup=2
    in most cases it's the Bel Air that receives the lion's share of attention. One might even go so far as to question whether or not Chevy even produced anything other than the Bel Air (and Corvette) in 1957, yet two other models were rolling for the assembly line: the 150, for the economy-minded consumer, and the 210, which bridged the gap between the 150 and the luxurious Bel Air.
    https://www.hemmings.com/stories/article/1957-chevrolet-150-210-series

    I didn't have the opportunity to drive a 57 Chevy (a 150 straight-6) until decades later, at which point it drove like a truck. Good thing it had a large steering wheel for leverage when turning. I just assumed that the effort required was due to its aged condition. Though even at that age, the manual transmission was the smoothest I've ever driven.
  • edited February 2023
    LOL - I owned the 210. The Bel Air was the top-end. More chrome on the sides behind which road salts could collect and lead to earlier rust problems.

    I picked up my 210 from a local junk yard for around $250 in 1962. Straight-6. Apparently it had seen taxi service in some city. Pretty well wore out by the time I got it. Still a pretty good looker, however, in two-tone green. The 3 speed tranny would occasionally lock-up in reverse. The options were (1) to crawl underneath and manipulate the linkage by hand, or (2) drive back home in reverse - which I recall doing on at least one occasion.
  • @linter. that sounds just awful. I'll not say any more. I hate it myself, when people just fill the air with words.
  • @crash. Re: your take on Redlining. Very. Very. Very offensive. When I was a kid and our family was driving around my Dad would point out the communities where our family COULD NOT LIVE. Yes. We were REDLINED. I don’t miss that practice like you do. Now I can live wherever I can afford.
  • edited February 2023
    larryB said:

    @crash. Re: your take on Redlining. Very. Very. Very offensive. When I was a kid and our family was driving around my Dad would point out the communities where our family COULD NOT LIVE. Yes. We were REDLINED. I don’t miss that practice like you do. Now I can live wherever I can afford.

    What happened to you is absolutely wrong and terrible. And I'm against redlining, too. I just made the point that as a repeat-victim of crime back in my old neighborhood, I remember a time when it would never have happened. People have a right to live wherever they can afford, yes. But now the criminal element is not restricted to the old redlined neighborhoods, either.
  • crash. Your post rues the day redlining went away. And who are “the criminal element “ you speak of? Or is “criminal element “ just another of your euphemisms you pepper your posts with?. Words matter and once they are out there you can’t take them back. I don’t know what is more disgusting,,,, your first post missing the days of redlining or your second post denying the first.
  • edited February 2023
    No one needs to give you permission to ignore the distinction(s) I have made. Surely, you don't intend to take the side of criminals over the victims of crime? And I'm still against redlining. @larryB
    *******
    crash. Your post rues the day redlining went away.
    Completely false. And as gently as I can, I want to add: PLEASE don't tell me what I think. :)
  • Rear wheel drive. If the ass end goes to the right, steer to the right & let of the gas.
    Front wheel drive . If ass end goes right or left, let off the gas.
    Second best tip, if you need to be out in bad weather, sloooow down !

    Two snowfalls to go, Derf
  • Crash said:

    No one needs to give you permission to ignore the distinction(s) I have made. Surely, you don't intend to take the side of criminals over the victims of crime? And I'm still against redlining. larryB
    *******
    crash. Your post rues the day redlining went away.
    Completely false. And as gently as I can, I want to add: PLEASE don't tell me what I think. :)

    @crash - You have an opportunity here to clarify what you wrote.

    As @larryB observed, your post (regardless of whether it accurately represents what you think) seems be saying that once "those people" were no longer confined to redlined neighborhoods (redlining eliminated), crime spread out from those neighborhoods to everywhere. Post hoc ergo propter hoc?

    To bring this (somewhat) back to investing, home ownership is often cited (at least by the real estate industry:-)) as an important way for people to build wealth. Redlining made it impossible for many people to build wealth that could be transferred to future generations. Saying that people should be able to live wherever they can afford to speaks only to ongoing practices of steering, of discriminatory mortgage lending, appraisal discrimination, etc. It doesn't take into account the impact of past redlining on the ability of today's families to afford housing.
    homeownership has been a central way of building wealth ... certainly all throughout the post-war period; the wake of World War II when the suburbs opened up. Although ... it was not an avenue that was open to many people of color, particularly African Americans. And so while homeownership has long been an important source of wealth creation for whites, that hasn't been the case for Black Americans.
    https://www.npr.org/2023/01/04/1146960942/how-buying-a-home-became-a-key-way-to-build-wealth-in-america

    See also:
    https://www.bankrate.com/mortgages/what-is-redlining/
    https://www.habitat.org/our-work/impact/research-series-how-does-homeownership-contribute-to-wealth-building
    https://projects.fivethirtyeight.com/redlining/

    You asked what have we fixed? Well, we've gotten some concessions from Fred and Donald for steering and sales discrimination, we've gone after banks (notably but not exclusively Wells Fargo) for lending practices. It doesn't fix the world, but it's a start.

    https://finurah.com/2022/04/15/nyc-wont-open-any-more-accounts-with-wells-fargo-banking-giant-has-too-many-racial-disparities-says-big-apple/
  • I personally know for an absolute fact that redlining was vigorously practiced in San Francisco by real-estate brokers. In the late fifties/early sixties a close friend worked for a real estate broker, and she bragged about how they prevented "incursions" by certain minorities into "white neighborhoods".

    Out present home in SF was built in 1918, and when we bought the home in the 1970s I read the information provided by the title insurance company. That information included photocopies of the original property documentation for the property "tract", which included restrictions on (among other things) using the property for a laundry, stables, or ownership by anyone not of the Caucasian race.
  • edited February 2023
    Check out the Pointe System on THE OTHER AMERICA.COM. From an article from Time and the New York Times in 1960. In some places long before one could apply for a mortgage the would be buyer had to achieve a certain score to be acceptable to buy. According to this article a score of 50 would be the minimum. I quote here,,,,, “persons of Polish descent had to score 55, Greeks 65, Italians 75 and Jewish People 85. There were no ratings for Negroes or Orientals. “Yeah,,,, the Fabulous Fifties were just great for everyone!
  • From an old picture I once saw: There used to be a fancy hotel in Stockton, CA, the Hotel Stockton. There was a sign on the door: "No dogs or Filipinos allowed." The in-your-face bluntmess of it hit me like a ton of bricks. Guess where my wife is from?
  • edited February 2023
    This conflict on redlining aside, it’s funny to me to see people get nostalgic about their cars when they were young. Much of my life I took subways and buses, so I have no nostalgia for automobiles. It’s hard to get nostalgic about public transportation, although, oddly, sometimes I do: “Ah, remember that time when you were young on the train and someone taller than you was standing over you with his sweaty underarm in your face? Those were the days!” I like cities, always have, always will, yet they too had their own forms of segregation, awful in their own urban way.
  • "There used to be a fancy hotel in Stockton, CA, the Hotel Stockton."

    Sorry, but there has never been anything "fancy" in Stockton.
  • edited February 2023

    This conflict on redlining aside, it’s funny to me to see people get nostalgic about their cars when they were young. Much of my life I took subways and buses, so I have no nostalgia for automobiles. It’s hard to get nostalgic about public transportation, although, oddly, sometimes I do: “Ah, remember that time when you were young on the train and someone taller than you was standing over you with his sweaty underarm in your face? Those were the days!” I like cities, always have, always will, yet they too had their own forms of segregation, awful in their own urban way.

    There are people in NYC who live, breathe & worship revere the subway. They can glide from here to there in light or dark - quickly & effortlessly with seemingly no pre-planning. It’s all second nature to them. With me, an occasional visitor, it’s a nightmarish mix of noise, endless steps up and down leading nowhere and other well meaning passengers who would like to offer advice but who can’t answer my questions about where we are and where we’re going because they speak some different language.

    Growing up in a small town in the 50s & 60s there were lots of Protestant churches - and of course the obligatory town drunk. “Good” people (not far removed from Mayberry) I suppose. There were no African Americans or other persons of color. Just two Jewish families lived in town. “Redlining” wasn’t an issue we thought about - nor was segregation. But likely they existed under the surface, unearthed and unexposed. The nice thing about living / working in an urban area was the exposure to people of many different colors, cultures, nationalities and religions.

    Back to cars. Turning 16, learning to drive and getting your first car were important than - to teenage boys anyway. We rarely could afford to buy more than a dollar’s worth of gas (about 3 gallons in those days). So a lot more time was spent parked at the local A&W or Dairy Queen than actually driving around.:)
  • @ LewisBraham. I have a cousin who has a 56 Chevy nomad and has a lifestyle built around that. He travels all over the west to classic Chevy events. They meet at a hotel and stand around looking at each other’s cars..Then they do it all over again three months later. Not so different than old deadheads who follow what’s left of the band. Not so different at all. Some are wishing for 56 and some wish it was 68.
  • @larryB It’s a weird world. I had a neighbor some years ago who would polish his car every day, clearly loved it. I forget what model it was. Eventually his wife left him but he kept the car. I don’t think she felt she could compete with the vehicle for his attention.
  • These things happen. I polished my first wife every day and eventually she left me and took the car...
  • Old_Joe said:

    I polished my first wife every day and eventually she left me and took the car...


    I feel sorry for the wife if this is all she got for having put up with you - Jezzz!

    :)

    image
  • Well, she thinks that she got the better end of the deal. Go figure...
  • Does that beauty have the slant six in it? Virtually indestructible motor. Only trouble was the distributor cap was on the side and sometimes you drove through a puddle and ya had to pop it off and spray the WD-40 to take care of the moisture.

    Best

    Baseball fan
  • That was our first new car, back in 1970... we put a lot of miles on it. Yes, a slant six.

    Just kidding about the wife- still working on the first and only one of those. She's got a lot of miles on her, too. :)
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