Originally posted by KYPack
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The Players are going to lose
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That's because the cash flow requirements of the old guys were lower. Money went further for one, the cost of, say, a house relative to income was way lower. Same for cars. And, the lending opportunities weren't the same as they are today. They were far more traditional and conservative. So, there was less chance to over borrow.
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Plus, they didn't wear hundreds of thousands of dollars in jewelry back in the day and drive Bentleys and Maseratis.Originally posted by Tarlam! View PostThat's because the cash flow requirements of the old guys were lower. Money went further for one, the cost of, say, a house relative to income was way lower. Same for cars. And, the lending opportunities weren't the same as they are today. They were far more traditional and conservative. So, there was less chance to over borrow.
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Originally posted by KYPack View PostOne thing knocks me out. The old time players seemed to be better prepared for strike in their day & they didn't make squat.
These present guys make way more money, but some of 'em are "broker" than the guys from the old days.
Not surprising to me at all. People making big bucks have higher burn rates. Frugality is a foreign concept to many of them. The appearance of wealth is not the same thing as wealth.
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For players to be in financial trouble right now is pure foolishness on their parts, because the lock out hasn't affected incomes so far, except for the few that were due roster bonuses that went unpaid. No one would have gotten pay checks now anyway, not until the season starts (ignoring the small TC per diem they get before the season).
The article suggests that it is common for players to borrow from each other during the off season. Seems kind of ridiculous. Even the youngest, lowest paid players were being paid more each month from September to December than they made in a year before getting to the NFL You would think they could make it last a little longer than they do.
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Yup, living to the max that your current income will support is a certain path to financial problems.Originally posted by Scott Campbell View PostNot surprising to me at all. People making big bucks have higher burn rates. Frugality is a foreign concept to many of them. The appearance of wealth is not the same thing as wealth.
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Swede: My expertise in this area is extensive. The essential difference between a "battleship" and an "aircraft carrier" is that an aircraft carrier requires five direct hits to sink, but it takes only four direct hits to sink a battleship.
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"You're all very smart, and I'm very dumb." - Partial
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The Chis Rock one basically jokes about the same things as the others, Tarlam. He says white people get money and start Walmart, while blacks get money and buy rims and gold chains.
Personally, I'm offended! (That's the politically correct response, right?)Last edited by get louder at lambeau; 04-13-2011, 02:36 PM.
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