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Personal debt is anti-American.
gabbar says
Personal debt is anti-American.
Oh, personal debt is an American tradition. Irresponsible, yes, but quite the practice in the US.
Yet to meet a millionaire that didn't use debt to make their wealth.
HeadSet says
gabbar says
Personal debt is anti-American.
Oh, personal debt is an American tradition. Irresponsible, yes, but quite the practice in the US.
Yet to meet a millionaire that didn't use debt to make their wealth. You don't use your own money if you want to be wealthy. And then YOU become the bank and make more. Rarely are W-2'ers millionaires. Their check goes to putting food on the table and their house. They're broke or on food stamps even if they pull in $100k.
WookieMan says
Yet to meet a millionaire that didn't use debt to make their wealth.
Personal debt and investment debt are two different things. Borrowing to buy rental property or company equipment is not the same as borrowing to buy that 'vette.
I'm a guy who didn't use debt to achieve wealth.
I'm a weirdo to my friends however.
What do you do to stay productive and live a fulfilling life?
I like my financial independence. I don't need more money or care to work for more money. Life is short. I don't want to spend all my time adding digits to a banks account working like a dog.
We are going to see Realtors and Banks grovelling before the Fed very soon.
What do you do to stay productive and live a fulfilling life?
What do you do to stay productive and live a fulfilling life?
"My favorite Central Banker was Paul Volcker. He was not worried about nailing the soft landing. He put us into a terrible recession and we got 20 years of prosperity because of the pain we took for 18 months. And I’d like to remind those who think this has been in their political interests, Reagan won 49 states in 1984 after the economy was absolutely in the tank in 1982 because he did the right thing."
However, household wages and/or income for the demographic that would buy this townhome has gone up about 25% since February 2020.
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses.
Nah, it wasn't me
porkchopXpress says
What do you do to stay productive and live a fulfilling life?
Hey porkchopXpress I was watching my usual Sunday night, "Viva and Barnes", and I saw a guy named porkchopexpre55 post a question in the super chat. Was that you?!
However, household wages and/or income for the demographic that would buy this townhome has gone up about 25% since February 2020.
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses competing for the household's budget.
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses competing for the household's budget.
AmericanKulak says
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses competing for the household's budget.
Lot of it to do with "keeping up with Joneses" .. The pressure especially from women/children is forcing the families to live on financial edge.
Responsible men are worse off in this society as they shoulder most responsibility but little say and still get blamed as cheapstakes.
If people live 1990s lifestyles they will live much better.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.