Philly says Boy Scouts have to accept gays

[giblets]

This is Philly council. I'm pretty sure they spent the windfall they received from the building payment from the scouts in the depression.

It's no different then the guy who wins the lottery going bust several years later. Some people know how to manage money. Other folks don't.

As opposed to blowing all that money on a junket for the politicians to Hong Kong, and then wondering where all that money went?

I wish the city government here would make smarter investments and they would run a profit year over year rather than jacking up taxes and running deficits.

Holy ****, thinking the government should make investment decisions instead of cutting taxes and letting private citizens do the investing can only be described as "big government". You're an advocate of central planning.

edit: and how is this like winning the lottery? the scouts didn't exactly write the city council a check

[Ben Kenobi]

So now the building has always been worth 4 million?

In todays dollars? Yes.

1. You say the building is now worth 4 million
2. You say the scouts haven't paid 16 million in rent
3. Thread is over

In today's dollars the interest accrued in the investment is 3.7 billion dollars.

You want thread over, there you go. Thread over.

Philly council should pay the boyscouts 4 million dollars and be done with it.

[Ben Kenobi]

Holy ****, thinking the government should make investment decisions instead of cutting taxes and letting private citizens do the investing can only be described as "big government". You're an advocate of central planning.

How so? I'm arguing that the city should divest themselves of the asset and return the building to the scouts.

If I believed in central planning, wouldn't I be advocating that the scouts should get nothing at all, and the Philly council should just evict them?

[Ben Kenobi]

If it's so easy to find 10% a year investments then why are banks offering mortgages for less than 10% instead of making the 10% investments themselves?

Are you suggesting that banks make a profit off mortgages?

Why do gas stations sell gas?

[C0ckney]

you people

[giblets]

Are you suggesting that banks make a profit off mortgages?

Why do gas stations sell gas?

Banks are profit maximizing entities and if faced with the choice of making an investment with an expected return of 10% a year and giving a mortgage with an expected return of less than 10% a year, they will go for the investment instead of the mortgage. For the city council to profitably borrow money and invest it the city council must out-compete the private sector in some way. People who think the government can out-perform the private sector in operations in which the goal is to turn a profit tend to wave red flags.

[giblets]

btw where is he getting a figure of $3.7 billion?

Does Ben think every property owner should be a millionaire after a few decades?

[Ben Kenobi]

Banks are profit maximizing entities and if faced with the choice of making an investment with an expected return of 10% a year and giving a mortgage with an expected return of less than 10% a year, they will go for the investment instead of the mortgage.

You sure about this? You might want to think about this point again. Besides you completely missed the point I was trying to make.

What do banks and mortgages have in common with gas stations and gas?

For the city council to profitably borrow money and invest it the city council must out-compete the private sector in some way. People who think the government can out-perform the private sector in operations in which the goal is to turn a profit tend to wave red flags.

The current regulatory structure makes it cheaper for many municipalities to acquire loans at lower rates than most private organisations.

[Ben Kenobi]

btw where is he getting a figure of $3.7 billion?

4 million invested over 80 years compounded at 10 percent a year minus 200k a year from the scouts.

[loinburger]

Philly council should pay the boyscouts 4 million dollars and be done with it.

You mean after the fifty billion the Scouts made by investing the 12 million profit they made on the building? Forget it.

In today's dollars, independent of your financial incompetence, the scouts are up twelve million. If we incorporate your financial wizardry, then the scouts have invested 12 million at 10 percent interest for 80 years compared to the 4 million invested by the city. Thread over.

[giblets]

4 million invested over 80 years compounded at 10 percent a year minus 200k a year from the scouts.

That still doesn't make any sense. Could you provide more details?

[loinburger]

Stop egging him on.

[Ben Kenobi]

In today's dollars, independent of your financial incompetence, the scouts are up twelve million.

And in today's dollars the City would be up 3.7 billion dollars over that same span.

]
If we incorporate your financial wizardry, then the scouts have invested 12 million at 10 percent interest for 80 years compared to the 4 million invested by the city. Thread over.

What, are you assuming zero interest over 80 years? C'mon loin. You know it doesn't work that way.

[loinburger]

You are really stretching to get your troll on here.

Face it, your gay-hating buddies are sunk.

[Ben Kenobi]

That still doesn't make any sense. Could you provide more details?

Y= (((4x10^7)*(0.1))*((1.1)^80)) + (4x10^7) - (2x10^6)*(80)

There, that's right.