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Mortgage is slavery, "Black Swan" author seems to indicate.

By MoneySheep following x   2018 Apr 25, 4:33pm 482 views   12 comments   watch   sfw   quote     share    


New York University professor and “Black Swan” author Nassim Taleb giving some insight into his finances in a piece for Esquire this month.

“When I had no money, I rented,” he continued. “I have an allergy to borrowing and a scorn for people who are in debt, and I don’t hide it. I follow the Romans’ attitude that debtors are not free people.”

https://www.marketwatch.com/story/black-swan-author-claims-hes-never-borrowed-money-in-his-entire-life-2018-04-25
1   Heraclitusstudent   ignore (1)   2018 Apr 25, 4:35pm   ↑ like (1)   ↓ dislike (0)   quote        

Someone invite him to pat net.
2   Hassan_Rouhani   ignore (2)   2018 Apr 25, 6:02pm   ↑ like (0)   ↓ dislike (0)   quote        

Nassim Taleb says
“When I had no money, I rented,”


Renting without money is called "squatting", Nassim. Get your story straight.
3   APOCALYPSEFUCKisShostikovitch   ignore (30)   2018 Apr 25, 6:08pm   ↑ like (1)   ↓ dislike (0)   quote        

CUNT! BUY THE SHACK! PAY! THE! NOTE! DOUBLE! THE! PRICE!, exactly as the Founding Fathers commanded.
4   Strategist   ignore (1)   2018 Apr 25, 7:00pm   ↑ like (0)   ↓ dislike (0)   quote        

MoneySheep says
New York University professor and “Black Swan” author Nassim Taleb giving some insight into his finances in a piece for Esquire this month.

“When I had no money, I rented,” he continued. “I have an allergy to borrowing and a scorn for people who are in debt, and I don’t hide it. I follow the Romans’ attitude that debtors are not free people.”


LOL. If you don't pay your debts, they don't turn you into a slave anymore. They just give you more credit cards after you declare BK.
5   Patrick   ignore (0)   2018 Apr 26, 4:33pm   ↑ like (0)   ↓ dislike (0)   quote        

Pretty funny that there is a big fat mortgage ad on that same page:

6   Patrick   ignore (0)   2018 Apr 26, 4:35pm   ↑ like (0)   ↓ dislike (0)   quote        

Strategist says
If you don't pay your debts, they don't turn you into a slave anymore. They just give you more credit cards after you declare BK.


Actually students are definitely slaves to their student loan debt. That shit follows you for life now and cannot be discharged, ever, except by dying.
7   Strategist   ignore (1)   2018 Apr 26, 6:41pm   ↑ like (0)   ↓ dislike (0)   quote        

Patrick says
Strategist says
If you don't pay your debts, they don't turn you into a slave anymore. They just give you more credit cards after you declare BK.


Actually students are definitely slaves to their student loan debt. That shit follows you for life now and cannot be discharged, ever, except by dying.


The assumption could be......The education that increases your earning capacity acts as a lien for the student loans.
8   Hassan_Rouhani   ignore (2)   2018 Apr 26, 6:45pm   ↑ like (1)   ↓ dislike (0)   quote        

Patrick says
Pretty funny that there is a big fat mortgage ad on that same page:



AI is soooooo smart.
9   C Boy   ignore (0)   2018 Apr 27, 8:41pm   ↑ like (3)   ↓ dislike (0)   quote        

Taleb was pretty smart getting his parents to move to France so he could go to colllege for free.
10   DanExMachina   ignore (0)   2018 Apr 29, 6:48pm   ↑ like (2)   ↓ dislike (0)   quote        

Strategist says
Patrick says
Strategist says
If you don't pay your debts, they don't turn you into a slave anymore. They just give you more credit cards after you declare BK.


Actually students are definitely slaves to their student loan debt. That shit follows you for life now and cannot be discharged, ever, except by dying.


The assumption could be......The education that increases your earning capacity acts as a lien for the student loans.

It could be, but that would sort of associate some responsibility on the school to do something that will increase your earning capacity. Instead, the 'education' part of the school is detached from the loans and the solicitation of alumni to sponsor new building projects and staff increases. If schools had to testify on penalty that they will increase earning capacity before the loan is approved, then there would be far fewer loans...
There's also the question of whether someone is actually fit to attend college (or has a real need to). I'm all for eliminating high schools, separating schools with sports teams from schools with academic focus, and requiring all students to have pretty advanced arts and humanities so those aren't separate disciplines of loan sharking.
Just ideas OOTB to think about...
11   Strategist   ignore (1)   2018 Apr 29, 7:39pm   ↑ like (0)   ↓ dislike (0)   quote        

DanExMachina says
It could be, but that would sort of associate some responsibility on the school to do something that will increase your earning capacity. Instead, the 'education' part of the school is detached from the loans and the solicitation of alumni to sponsor new building projects and staff increases. If schools had to testify on penalty that they will increase earning capacity before the loan is approved, then there would be far fewer loans...
There's also the question of whether someone is actually fit to attend college (or has a real need to). I'm all for eliminating high schools, separating schools with sports teams from schools with academic focus, and requiring all students to have pretty advanced arts and humanities so those aren't separate disciplines of loan sharking.
Just ideas OOTB to think about...


Private schools clearly have to prove the benefits of education in getting off to the right career path. I'm more concerned about giving huge loans to social science majors where earning capacity is barely increased, if at all. These graduates will be saddled with debt they may not be able to pay back. It ruins their lives because they can't even BK student loans. Student loans should be based on risk.
12   HEYYOU   ignore (13)   2018 Apr 29, 11:44pm   ↑ like (0)   ↓ dislike (0)   quote        

Waiting for the Black Swan is almost unbearable.
It will come from a place no one expects,the timing of which is unknown.
I have a feeling it will be a real ass kicker.




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