Budd Davidson Flies the L2

[Ed O'Brien]

Tribe;
Airbum has a new article on the L2. Catch it by clicking here. http://www.airbum.com/pireps/PirepL-2.html
See what Budd Davidson has to say about our little Grasshoppers.
With regards; ED OBRIEN

[Larry Lyons]

Re: Budd Davidson Flies the L2

Great read but it must be a little long in the tooth. Look at the prices, wish I could recover mine for $1500!

Larry

[Ed O'Brien]

Re: Budd Davidson Flies the L2

It says it was taken from an article in Air Progress in 1990. So yes, it's a while ago. (Although it was just posted to the Airbum Page about 10 days ago) That said, if the airplane has increased in price 10 times since 1990... what's it going to be worth in another 17 years? Probably not $300K but it'll be worth something more than now.
With regards; ED OBRIEN

[Ed O'Brien]

Re: Budd Davidson Flies the L2

Flyguy;
Perhaps you should have bought Euro's, Boeing, gold, oil, technology, and international stocks a few years back... and sold financials, consumer goods, and American Auto manufacturers... plus wait for a while to take a European vacation. I did and I am. You can live like you like and do what you like of course, but there's always a silver lining somewhere. If you're still concerned about illegal immigration and drug gangs... join Civil Air Patrol. Our Wing has flown top cover against human smuggling and drug rings. You can complain... it's your right with the first amendment and all... or you can DO something. The choice is yours. Boy has this thread gotten off base.
With regards; ED OBRIEN

[tawadc95]

Re: Budd Davidson Flies the L2

Ed,
I think the article said 1968....I think

[tawadc95]

Re: Budd Davidson Flies the L2

Ed,
You are correct,it was written in 1990,the fella in the article finished his rebuild of the bird in 1969.
I bow to you.

[taylorcraftbc65]

Re: Budd Davidson Flies the L2

LOVED the story. An L-2 (WITH spoilers), is the ONLY plane I would trade my BC65 for. Brie

[Ed O'Brien]

Re: Budd Davidson Flies the L2

Flyguy; (a history lesson in the rise and fall of the U.S. dollar) Regarding your worry of the falling US Dollar. Not that it will come back to previous levels but think of it as the US cashing out or cashing in... on our political stability... so to speak. We load up foreign debt then pay them off with devalued dollars all the while spurring our own exports. Basically Mr. Greenspan, while budget advisor for President Nixon, came up with the idea that if you allowed for 3 percent inflation a 30 year debt (T-Bills in this case) was worth about 16 cents on the dollar at the end of the debtors (US) obligation. Meaning, we leverage Americas steady political influence and power... ever-increasing economic muscle... and that allows us to sell off debt and pay it back with falling dollars.
We sold the Japanese hyper-inflated California/New York Real Estate in the 80s in this way... then bought it back for 50-60cents on the dollar in 89-91. We'll turn the dollar around soon and not just by jaw-bone-ing it up. (think about Hank Paulson's comments recently) We'll do this by buying back our debt -- which we sold to China/Europe -- our repurchase will be at 50-60 cents using a deflated international dollar. In this way -- we're importing deflation -- exporting inflation -- laying off our debt -- not paying it off fully -- It's kind of like Donald Trump Financing. Mr. Trump talks a good game but likes to declare bankruptcy every decade or so. In this way he lays off debt and takes advantage of others. Right now foreigners are getting a little irritated with this deal... and so we'll stop doing it soon. So the dollar will rise soon... once the US starts buying dollars back. I think the reason Warren Buffet is selling off his Petro-China investment
was because it was hyper-inflated. I imagine the $35-50billion he made from the China sale will go into recently crushed US financials. I think he's waiting with these recently repatrioted dollars for a bottom in the banking and investment sector. Believing same... I just bought a bunch of Berkshire-Hathaway... before the last quarterly report. I expect gold and oil to fall (at least somewhat) by the spring to mid-summer '08 with recovery in '09. Sell high and buy low works for debt too. We'll have to wait to see how this works out. In the meantime you might take a look at this article: http://biz.yahoo.com/ap/071110/wall_main.html?.v=2 We seem poised to do 89-91 all over again. In this scenerio... don't forget we had a bit of a recession in '91-'92.
With regards; ED OBRIEN

[Ed O'Brien]

Re: Budd Davidson Flies the L2

Flyguy;
Always happy to speak with you under any circumstances. Consider that for 10 years we politely asked the Chinese to reprice the Yuan. They didn't... we did... at least in it's relationship to the dollar. We can't play this game forever, of course. We live and die on full faith and credit of the Government of the United States... not the gold standard...
which gives us this latitude. That of course was another Greenspan idea. Meaning the dollar floats... the Yuan doesn't but it will sooner than later and this falling dollar will make that happen. Because that's the way the market sees it. Hence Greenspan's recent warning of an impending China bubble. Interesting times. All the best; ED OBRIEN

[Hank Jarrett]

Re: Budd Davidson Flies the L2

The finance discussion IS interesting but we do need to move it to the other area. I'll follow it (and maybe throw an opinion in once in a while) but it really doesn't have much to do with flying an L-2 (also an interesting thread).
Let's move it and get the L-2 thread back on track.
Hank