@dcarr said:
I cringe when I hear politicians talking about making more money available for student loans. More money in the pockets of prospective students causes them to bid up the cost of going to college, and that makes them debt servants right out of the gate.
is it possible that "net worth" is mostly their primary residence
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
I seriously doubt much household debt is being used to "acquire appreciating assets."
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
Oh, only $5 trillion (and growing) in outstanding household debt excluding mortgages. Well, when those who owe $5 trillion in non-mortgage debt add their mortgage to their monthly debt cost, I'm sure they don't see it as small potatoes as do you. LOL
ONLY $5 trillion. LOL
Some interesting points from your link:
"About 24,000 individuals had a new foreclosure notation added to their credit reports during the first quarter, compared to only 9,000 individuals in the fourth quarter of 2021."
>
48,459,000 individuals did NOT have a mortgage foreclosure added to their credit report
_"Credit card balances are still $71 billion higher than Q1 2021 and represent a substantial year-over-year increase.
Yeah....no way the $8.5 Trillion in annual household income is gonna cover that. Haha
is it possible that "net worth" is mostly their primary residence
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
I seriously doubt much household debt is being used to "acquire appreciating assets."
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
Oh, only $5 trillion (and growing) in outstanding household debt excluding mortgages. Well, when those who owe $5 trillion in non-mortgage debt add their mortgage to their monthly debt cost, I'm sure they don't see it as small potatoes as do you. LOL
ONLY $5 trillion. LOL
Some interesting points from your link:
"About 24,000 individuals had a new foreclosure notation added to their credit reports during the first quarter, compared to only 9,000 individuals in the fourth quarter of 2021."
>
48,459,000 individuals did NOT have a mortgage foreclosure added to their credit report
Yet fact remains that new foreclosure notations increased from 9K to 24K. Your slight of hand attempt at distraction from the facts continues to make me laugh. Let's add magician to your list of many talents. LOL
_"Credit card balances are still $71 billion higher than Q1 2021 and represent a substantial year-over-year increase.
Yeah....no way the $8.5 Trillion in annual household income is gonna cover that. Haha
Gee, seems to me that if it could there would not continue to be record debt that continues to increase. In other words why would someone pay double digit interest on debt if their salary could cover the expense?
is it possible that "net worth" is mostly their primary residence
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
I seriously doubt much household debt is being used to "acquire appreciating assets."
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
Oh, only $5 trillion (and growing) in outstanding household debt excluding mortgages. Well, when those who owe $5 trillion in non-mortgage debt add their mortgage to their monthly debt cost, I'm sure they don't see it as small potatoes as do you. LOL
ONLY $5 trillion. LOL
Some interesting points from your link:
"About 24,000 individuals had a new foreclosure notation added to their credit reports during the first quarter, compared to only 9,000 individuals in the fourth quarter of 2021."
>
48,459,000 individuals did NOT have a mortgage foreclosure added to their credit report
Yet fact remains that new foreclosure notations increased from 9K to 24K. Your slight of hand attempt at distraction from the facts continues to make me laugh. Let's add magician to your list of many talents. LOL
_"Credit card balances are still $71 billion higher than Q1 2021 and represent a substantial year-over-year increase.
Yeah....no way the $8.5 Trillion in annual household income is gonna cover that. Haha
Gee, seems to me that if it could there would not continue to be record debt that continues to increase. In other words why would someone pay double digit interest on debt if their salary could cover the expense?
"While overall foreclosure activity is still running significantly below historic averages, the dramatic increase in foreclosure starts suggests that we may be back to normal levels by sometime in early 2023."
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
is it possible that "net worth" is mostly their primary residence
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
I seriously doubt much household debt is being used to "acquire appreciating assets."
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
Oh, only $5 trillion (and growing) in outstanding household debt excluding mortgages. Well, when those who owe $5 trillion in non-mortgage debt add their mortgage to their monthly debt cost, I'm sure they don't see it as small potatoes as do you. LOL
ONLY $5 trillion. LOL
Some interesting points from your link:
"About 24,000 individuals had a new foreclosure notation added to their credit reports during the first quarter, compared to only 9,000 individuals in the fourth quarter of 2021."
>
48,459,000 individuals did NOT have a mortgage foreclosure added to their credit report
Yet fact remains that new foreclosure notations increased from 9K to 24K. Your slight of hand attempt at distraction from the facts continues to make me laugh. Let's add magician to your list of many talents. LOL
_"Credit card balances are still $71 billion higher than Q1 2021 and represent a substantial year-over-year increase.
Yeah....no way the $8.5 Trillion in annual household income is gonna cover that. Haha
Gee, seems to me that if it could there would not continue to be record debt that continues to increase. In other words why would someone pay double digit interest on debt if their salary could cover the expense?
You assume everyone is an idiot.
No slight of hand, no magic trick. Why do you think providing contextual facts is such?
I've come to the realization that your sole purpose here is to argue and to distract. Shame you can't take part in a discussion without trying to do either.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
The "Good Book" doesn't say anything good about being in servitude to "money changers".
I guess they operated on a fee basis. I wonder what their percentage was,, since they hadn't yet figured out how to screw people with fractional reserve banking, loan money created from thin air, or rehypothecated assets owned by someone else.
The root principle in banking is fraud, or getting one over on your fellow man. Nothing to admire as far as I can see.
Q: Are You Printing Money? Bernanke: Not Literally
The ultimate, completely legal, counterfeiting scheme:
Step #1: Congress spends trillions more than the federal government takes in from taxes.
Step #2: The Treasury issues debt to cover the difference.
Step #3: The Federal Reserve creates currency out of thin air to buy the debt.
And you and I have to live with the resulting dollar debasement and price inflation.
@derryb said:
The ultimate, completely legal, counterfeiting scheme:
Step #1: Congress spends trillions more than the federal government takes in from taxes.
Step #2: The Treasury issues debt to cover the difference.
Step #3: The Federal Reserve creates currency out of thin air to buy the debt.
And you and I have to live with the resulting dollar debasement and price inflation.
Welcome to the universe. Glad after all these years you finally seem to have figured out what every country on planet earth does. Don't expect anything to change for the next thousand years or so. RGDS!
Welcome to the universe. Glad after all these years you finally seem to have figured out what every country on planet earth does. Don't expect anything to change for the next thousand years or so. RGDS!
The next five years is obviously going to catch you with your pants down.
@jmski52 said:
The tenor of your responses leads one to believe you love putting people into debt to acquire assets for other than a primary residence, or you would have said as much.
@derryb said:
I've come to the realization that your sole purpose here is to argue and to distract. Shame you can't take part in a discussion without trying to do either.
Do you own a mirror?
When you are confronted with fact you always turn to disparagement or an "I'm a victim" mentality or a cartoon.
You post your facts and I'll post mine. You dont have to like them, but at least try to prove my facts incorrect.
You say "open your eyes" but in reality you are close-minded.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
@derryb said:
The ultimate, completely legal, counterfeiting scheme:
Step #1: Congress spends trillions more than the federal government takes in from taxes.
Step #2: The Treasury issues debt to cover the difference.
Step #3: The Federal Reserve creates currency out of thin air to buy the debt.
And you and I have to live with the resulting dollar debasement and price inflation.
Way to go Congress!! Story will remain the same until "We the People" decide differently.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
@jmski52 said:
The tenor of your responses leads one to believe you love putting people into debt to acquire assets for other than a primary residence, or you would have said as much.
@derryb said:
I've come to the realization that your sole purpose here is to argue and to distract. Shame you can't take part in a discussion without trying to do either.
Do you own a mirror?
When you are confronted with fact you always turn to disparagement or an "I'm a victim" mentality or a cartoon.
You post your facts and I'll post mine. You dont have to like them, but at least try to prove my facts incorrect.
You say "open your eyes" but in reality you are close-minded.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
I had a boss once that said what's the difference if you owe a thousand dollars or a million dollars.
You probably eat better owing more money.
After he passed away, I had to think...well it worked for him.
Guess it depends on if your working some sort of system?
I heard of a couple that had credit card debt of just under 500 thousand dollars.
Owned a few properties they rented and had some nice things.
Cars, trucks, Harley, boat, decent house, etc.
Rolled everything into the property mortgages when they refinance so everything was paid off Except for the property.
Filed for bankruptcy, gave a property to the lawyer for swinging the bankruptcy and write off all debt.
Still had all the toys in the father's name if I recall.
Plenty of stuff to sell off over the next 7 years to live off of till the bankruptcy fell off their credit report.
If I recall they were looking to double dip as it worked so well the first time around.
is it possible that "net worth" is mostly their primary residence
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
I seriously doubt much household debt is being used to "acquire appreciating assets."
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
Oh, only $5 trillion (and growing) in outstanding household debt excluding mortgages. Well, when those who owe $5 trillion in non-mortgage debt add their mortgage to their monthly debt cost, I'm sure they don't see it as small potatoes as do you. LOL
ONLY $5 trillion. LOL
Some interesting points from your link:
"About 24,000 individuals had a new foreclosure notation added to their credit reports during the first quarter, compared to only 9,000 individuals in the fourth quarter of 2021."
>
48,459,000 individuals did NOT have a mortgage foreclosure added to their credit report
_"Credit card balances are still $71 billion higher than Q1 2021 and represent a substantial year-over-year increase.
Yeah....no way the $8.5 Trillion in annual household income is gonna cover that. Haha
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
@jmski52 said:
The tenor of your responses leads one to believe you love putting people into debt to acquire assets for other than a primary residence, or you would have said as much.
@derryb said:
I've come to the realization that your sole purpose here is to argue and to distract. Shame you can't take part in a discussion without trying to do either.
Do you own a mirror?
When you are confronted with fact you always turn to disparagement or an "I'm a victim" mentality or a cartoon.
You post your facts and I'll post mine. You dont have to like them, but at least try to prove my facts incorrect.
You say "open your eyes" but in reality you are close-minded.
.
I was going to suggest that you get a mirror.
But then I realized that you already have one.
And you look in it often.
And you like what you see.
A little too much.
.
I do indeed. Big mirrors. No one ever thought they could be so big. So pretty. Mirrors on every wall, even on the ceiling in one room.😉. And where no mirrors are selfies. Selfies of me looking in the mirrors.
But dont let derryb accuse you of personal attacks. That would be bad.
is it possible that "net worth" is mostly their primary residence
No. And that's a simple supposition to prove false.
However, the largest component (70%)of household debt is mortgage debt, which is used for leverage and utility to acquire appreciating assets.
I seriously doubt much household debt is being used to "acquire appreciating assets."
Well, serious doubt is born of ignorance. So heres another attempt to help you and your ilk escape your bunker and polluted tributaries.. From the same source you cited. $11 trillion of that $16 trillion is mortgage debt.
Oh, only $5 trillion (and growing) in outstanding household debt excluding mortgages. Well, when those who owe $5 trillion in non-mortgage debt add their mortgage to their monthly debt cost, I'm sure they don't see it as small potatoes as do you. LOL
ONLY $5 trillion. LOL
Some interesting points from your link:
"About 24,000 individuals had a new foreclosure notation added to their credit reports during the first quarter, compared to only 9,000 individuals in the fourth quarter of 2021."
>
48,459,000 individuals did NOT have a mortgage foreclosure added to their credit report
_"Credit card balances are still $71 billion higher than Q1 2021 and represent a substantial year-over-year increase.
Yeah....no way the $8.5 Trillion in annual household income is gonna cover that. Haha
Per capita income. Yeah, gotta count that baby in diapers. Lol
@jmski52 said:
The tenor of your responses leads one to believe you love putting people into debt to acquire assets for other than a primary residence, or you would have said as much.
@derryb said:
I've come to the realization that your sole purpose here is to argue and to distract. Shame you can't take part in a discussion without trying to do either.
Do you own a mirror?
When you are confronted with fact you always turn to disparagement or an "I'm a victim" mentality or a cartoon.
You post your facts and I'll post mine. You dont have to like them, but at least try to prove my facts incorrect.
You say "open your eyes" but in reality you are close-minded.
.
I was going to suggest that you get a mirror.
But then I realized that you already have one.
And you look in it often.
And you like what you see.
A little too much.
.
I do indeed. Big mirrors. No one ever thought they could be so big. So pretty. Mirrors on every wall, even on the ceiling in one room.😉. And where no mirrors are selfies. Selfies of me looking in the mirrors.
But dont let derryb accuse you of personal attacks. That would be bad.
Belittlement, micro-aggression, slight. All in your toolbox and used frequently on the forum.
One needs only to look at your avatar (mask) to know where you are coming from.
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Boy.... if it were not for credit, I wouldn't have been able to be in business the past 30 years. Usery is an economy. It goes against the good book, but So does the whole world.
@TwoSides2aCoin said:
Boy.... if it were not for credit, I wouldn't have been able to be in business the past 30 years. Usery is an economy. It goes against the good book, but So does the whole world.
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Been like that for 6000 years. If you dont like the system, then change it.
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Been like that for 6000 years. If you dont like the system, then change it.
Prior to 100 years ago, it wasn't even remotely close to the extent that exists now.
The best way for someone to change their own situation is for them to get out of debt.
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Been like that for 6000 years. If you dont like the system, then change it.
Prior to 100 years ago, it wasn't even remotely close to the extent that exists now.
The best way for someone to change their own situation is for them to get out of debt.
.....and to vote.
Worry is the interest you pay on a debt you may not owe.
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Been like that for 6000 years. If you dont like the system, then change it.
Prior to 100 years ago, it wasn't even remotely close to the extent that exists now.
The best way for someone to change their own situation is for them to get out of debt.
Agreed. Recognizing there are different forms of debt is important. Practice personal responsibility.
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Been like that for 6000 years. If you dont like the system, then change it.
Prior to 100 years ago, it wasn't even remotely close to the extent that exists now.
The best way for someone to change their own situation is for them to get out of debt.
Agreed. Recognizing there are different forms of debt is important. Practice personal responsibility.
Sure, debt is great, if you are the CREDITOR and you have government backing to make you whole in case of a default by the debtor. Otherwise, debt sucks (literally).
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Been like that for 6000 years. If you dont like the system, then change it.
Prior to 100 years ago, it wasn't even remotely close to the extent that exists now.
The best way for someone to change their own situation is for them to get out of debt.
Agreed. Recognizing there are different forms of debt is important. Practice personal responsibility.
Sure, debt is great, if you are the CREDITOR and you have government backing to make you whole in case of a default by the debtor. Otherwise, debt sucks (literally).
Millions of business and home owners will have a differing opinion.
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Been like that for 6000 years. If you dont like the system, then change it.
Prior to 100 years ago, it wasn't even remotely close to the extent that exists now.
The best way for someone to change their own situation is for them to get out of debt.
Agreed. Recognizing there are different forms of debt is important. Practice personal responsibility.
Sure, debt is great, if you are the CREDITOR and you have government backing to make you whole in case of a default by the debtor. Otherwise, debt sucks (literally).
Millions of business and home owners will have a differing opinion.
How would you know ?
You are not a designated spokesperson or representative for the "millions of business and home owners".
If anything, you seem to be an apologist for the major banks that benefit from debt servitude.
If these "millions of business and home owners" could buy their business or residence without debt and without interest payments do you really think they would still want to be in debt and pay interest ?
@jmski52 said:
Taking on debt in order to leverage the purchase of "appreciating assets" is a somewhat reckless and irresponsible strategy, and anyone who advocates doing so is simply in the business of pushing debt.
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
The "Good Book" doesn't say anything good about being in servitude to "money changers".
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Been like that for 6000 years. If you dont like the system, then change it.
Prior to 100 years ago, it wasn't even remotely close to the extent that exists now.
The best way for someone to change their own situation is for them to get out of debt.
Agreed. Recognizing there are different forms of debt is important. Practice personal responsibility.
Sure, debt is great, if you are the CREDITOR and you have government backing to make you whole in case of a default by the debtor. Otherwise, debt sucks (literally).
Millions of business and home owners will have a differing opinion.
Here on Maui, I know people that have borrowed to buy a used car to start a Turo business. Some have been able to be cash flow positive, some have lost a bunch for various reasons, the biggest has been waiting for car parts, and a few that bought a used BMW with a recall pending. Some have bought mini vans they converted as sleepers, but the County wants to put a stop to that.
So yeah, cash flow positive works, negative does not. But the environment entails embedded risks, many of them are not fully known.
Millions of business and home owners will have a differing opinion.
How would you know ?
The correct question to ask is why dont you know?
But maybe you're on to something. Maybe if we just give everyone lots of money, then they wont have to borrow to expand business or develop new technologies or train workers or start a doctors office.
You've solved the problem. Just give everyone all the money they need so they wont have to borrow. No more banks. Easy peasy.
Millions of business and home owners will have a differing opinion.
How would you know ?
The correct question to ask is why dont you know?
But maybe you're on to something. Maybe if we just give everyone lots of money, then they wont have to borrow to expand business or develop new technologies or train workers or start a doctors office.
You've solved the problem. Just give everyone all the money they need so they wont have to borrow. No more banks. Easy peasy.
"They" just gave my daughter a $10,000 student loan forgiveness. Better that you help me pay for her education. LOL.
Paid my son's fraternity dues - $1200 for Fall (apparently they only drink top shelf). I commented over the last 3.5 years, I have paid $8000 in dues - which would have been a nice down payment on a new car. Warms my heart that the taxpayers of these great United States of America are about to pay for my son's bar tab - with a little extra for Fall and a blow-out grad party!
Comments
Yup....Govt subsidies drove up college costs.
End the Govt.
Knowledge is the enemy of fear
>
48,459,000 individuals did NOT have a mortgage foreclosure added to their credit report
Yeah....no way the $8.5 Trillion in annual household income is gonna cover that. Haha
Knowledge is the enemy of fear
Yet fact remains that new foreclosure notations increased from 9K to 24K. Your slight of hand attempt at distraction from the facts continues to make me laugh. Let's add magician to your list of many talents. LOL
Gee, seems to me that if it could there would not continue to be record debt that continues to increase. In other words why would someone pay double digit interest on debt if their salary could cover the expense?
Give Me Liberty or Give Me Debt
"While overall foreclosure activity is still running significantly below historic averages, the dramatic increase in foreclosure starts suggests that we may be back to normal levels by sometime in early 2023."
https://finance.yahoo.com/news/increased-foreclosure-activity-first-six-040100975.html?fr=sycsrp_catchall
>
>
Servitude is a terrible thing.
I guess that is why you like it.
.
You assume some crazy stuff, but the good book says we are all servants, and I'm ok with that. Arent you?
What a weird turn this portion of the thread has taken. Funny how providing contextual fact to counter a hyperbolic opinion brings out the best in people.
Knowledge is the enemy of fear
You assume everyone is an idiot.
No slight of hand, no magic trick. Why do you think providing contextual facts is such?
Knowledge is the enemy of fear
I've come to the realization that your sole purpose here is to argue and to distract. Shame you can't take part in a discussion without trying to do either.
Give Me Liberty or Give Me Debt
The "Good Book" doesn't say anything good about being in servitude to "money changers".
The "Good Book" doesn't say anything good about being in servitude to "money changers".
I guess they operated on a fee basis. I wonder what their percentage was,, since they hadn't yet figured out how to screw people with fractional reserve banking, loan money created from thin air, or rehypothecated assets owned by someone else.
The root principle in banking is fraud, or getting one over on your fellow man. Nothing to admire as far as I can see.
I knew it would happen.
*sleight of hand
The ultimate, completely legal, counterfeiting scheme:
Step #1: Congress spends trillions more than the federal government takes in from taxes.
Step #2: The Treasury issues debt to cover the difference.
Step #3: The Federal Reserve creates currency out of thin air to buy the debt.
And you and I have to live with the resulting dollar debasement and price inflation.
Give Me Liberty or Give Me Debt
Welcome to the universe. Glad after all these years you finally seem to have figured out what every country on planet earth does. Don't expect anything to change for the next thousand years or so. RGDS!
The whole worlds off its rocker, buy Gold™.
The next five years is obviously going to catch you with your pants down.
Give Me Liberty or Give Me Debt
Do you own a mirror?
When you are confronted with fact you always turn to disparagement or an "I'm a victim" mentality or a cartoon.
You post your facts and I'll post mine. You dont have to like them, but at least try to prove my facts incorrect.
You say "open your eyes" but in reality you are close-minded.
Knowledge is the enemy of fear
Nor did I. If anything, my position is to use the "money changers" to your advantage.
Knowledge is the enemy of fear
Way to go Congress!! Story will remain the same until "We the People" decide differently.
Knowledge is the enemy of fear
Being in debt (servitude) is a very bad thing.
But if you think it is OK, then go for it.
.
I was going to suggest that you get a mirror.
But then I realized that you already have one.
And you look in it often.
And you like what you see.
A little too much.
.
Knockoff gutter sales must be pretty slow. Bah-Humbug! Other parts of the economy continue to BOOM. LKTKNGCNDYFRMDBBY!
The whole worlds off its rocker, buy Gold™.
I had a boss once that said what's the difference if you owe a thousand dollars or a million dollars.
You probably eat better owing more money.
After he passed away, I had to think...well it worked for him.
Guess it depends on if your working some sort of system?
I heard of a couple that had credit card debt of just under 500 thousand dollars.
Owned a few properties they rented and had some nice things.
Cars, trucks, Harley, boat, decent house, etc.
Rolled everything into the property mortgages when they refinance so everything was paid off Except for the property.
Filed for bankruptcy, gave a property to the lawyer for swinging the bankruptcy and write off all debt.
Still had all the toys in the father's name if I recall.
Plenty of stuff to sell off over the next 7 years to live off of till the bankruptcy fell off their credit report.
If I recall they were looking to double dip as it worked so well the first time around.
the difference is "worry."
Debt free offers great peace of mind.
Give Me Liberty or Give Me Debt
Give Me Liberty or Give Me Debt
Lol...what do you t> @dcarr said:
Then keep renting. Or learn how to use debt as a tool, just like millions of millionaires have done.
Knowledge is the enemy of fear
I do indeed. Big mirrors. No one ever thought they could be so big. So pretty. Mirrors on every wall, even on the ceiling in one room.😉. And where no mirrors are selfies. Selfies of me looking in the mirrors.
But dont let derryb accuse you of personal attacks. That would be bad.
Knowledge is the enemy of fear
Per capita income. Yeah, gotta count that baby in diapers. Lol
How is this "cost of living" number derived?
Lots of charts trick being played here as well.
How about household income?
Why do you let these folks trick you?
Knowledge is the enemy of fear
Belittlement, micro-aggression, slight. All in your toolbox and used frequently on the forum.
One needs only to look at your avatar (mask) to know where you are coming from.
Successful "millionaires" generally do not take on personal debt. They put the debt on some entity (a corporation or trust) that they control so that they can default on the debt (if necessary) without affecting their personal wealth.
But you are hiding the big picture.
The availability of mortgages drives up the cost of purchasing a residence. Not only in terms of the purchase price, but it also introduces a very significant amount of debt service (interest) payments over the years. And all that debt service goes to the entity which basically creates the money out of thin air. So a chunk of everything you produce goes to the upper banks as their "cut".
Boy.... if it were not for credit, I wouldn't have been able to be in business the past 30 years. Usery is an economy. It goes against the good book, but So does the whole world.
the bankers trained us well
Give Me Liberty or Give Me Debt
Been like that for 6000 years. If you dont like the system, then change it.
Knowledge is the enemy of fear
Give Me Liberty or Give Me Debt
Welcome Home! THKS!!
The whole worlds off its rocker, buy Gold™.
Prior to 100 years ago, it wasn't even remotely close to the extent that exists now.
The best way for someone to change their own situation is for them to get out of debt.
.....and to vote.
Worry is the interest you pay on a debt you may not owe.
' Women want to work'
Now that's funny right there, I don't care who you are.
95% of the women that I have ever run into couldn't quit their job fast enough as soon as they figured out how not to have to ' want' to work.
If you dont like the system, then change it.
1) End the Fed
2) Outlaw fractional reserve banking
3) Tax all political contributions BY 90% and apply the proceeds to the national debt
4) Outlaw deficit spending by Congress, punishable by imprisonment
5) Require proof of citizenship to vote
Never gonna happen, but these would be a good beginning.
I knew it would happen.
Agreed. Recognizing there are different forms of debt is important. Practice personal responsibility.
Knowledge is the enemy of fear
Why ain't it gonna happen? Are we that weak?
Knowledge is the enemy of fear
Sure, debt is great, if you are the CREDITOR and you have government backing to make you whole in case of a default by the debtor. Otherwise, debt sucks (literally).
anybody holding cash versus t-notes or bills is a losing out
I give away money. I collect money.
I don’t love money . I do love the Lord God.
as long as there is full employment I'd say things are rosie
I give away money. I collect money.
I don’t love money . I do love the Lord God.
CASH REMAINS KING.
I never said that. Please don't fabricate a quote on my behalf.
I knew it would happen.
Millions of business and home owners will have a differing opinion.
Knowledge is the enemy of fear
How would you know ?
You are not a designated spokesperson or representative for the "millions of business and home owners".
If anything, you seem to be an apologist for the major banks that benefit from debt servitude.
If these "millions of business and home owners" could buy their business or residence without debt and without interest payments do you really think they would still want to be in debt and pay interest ?
Common cents perhaps? THKS!
The whole worlds off its rocker, buy Gold™.
Here on Maui, I know people that have borrowed to buy a used car to start a Turo business. Some have been able to be cash flow positive, some have lost a bunch for various reasons, the biggest has been waiting for car parts, and a few that bought a used BMW with a recall pending. Some have bought mini vans they converted as sleepers, but the County wants to put a stop to that.
So yeah, cash flow positive works, negative does not. But the environment entails embedded risks, many of them are not fully known.
The correct question to ask is why dont you know?
But maybe you're on to something. Maybe if we just give everyone lots of money, then they wont have to borrow to expand business or develop new technologies or train workers or start a doctors office.
You've solved the problem. Just give everyone all the money they need so they wont have to borrow. No more banks. Easy peasy.
Knowledge is the enemy of fear
"They" just gave my daughter a $10,000 student loan forgiveness. Better that you help me pay for her education. LOL.
Told her to borrow more before Nov. 2024.
Give Me Liberty or Give Me Debt
Paid my son's fraternity dues - $1200 for Fall (apparently they only drink top shelf). I commented over the last 3.5 years, I have paid $8000 in dues - which would have been a nice down payment on a new car. Warms my heart that the taxpayers of these great United States of America are about to pay for my son's bar tab - with a little extra for Fall and a blow-out grad party!