Is anyone else watching this crap and wondering if its "THE" black Swan event? Basically the FED is propping up everything with debt. The stock market is a bubble waiting to burst! 500 billion in loans to the banks! Holly Batcrap! Of course, the Trump hate fest is what makes the news. Oh, and this stuff isn't new to me but I think it's super crazy.
Retired - no debts I told the wife that I was not retiring with a mortgage on the house - we paid it off a couple years ago.
Paid my farm (BOL) off in June and house off yesterday. Wife couldn’t understand why it was such a big deal to me. I put every extra dollar I had on those mortgages for five years. I am debt free for the second time in my life. Now I just have to afford the taxes, insurance, utilities and maintenance. You never really own real estate as long as the tax man is alive.
We went debt free here in 2005 and that was the casa Belly Acres.. Ya, dove old cars, stayed locally for 'vacation' buy our clothes at the Goodwill. Now (at least before the Dem tax machine cranks back up) we live well below our 'means' and that gives us the freedom to do as we wish.
Debt may be slavery of a sort, but in the general case it is selected by the debtor for what appear to be good reasons. Whether that is a smart move, well, I and a lot of others thought it was. To all those that woke up to the cost of working for someone else, congrats. To all those that are awake and collared, best wishes.
At the moment we only have our mortgage. We have two teens driving and one in college, so I don't see a universe where we pay it off immediately. I feel like there is a correlation between private and public fiscal responsibility. People who don't want government interference and high taxes generally keep their houses in order. If you're already buried in debt, you probably worry about how you're going to pay for retirement or if you get sick; then you probably want big government in hopes they will take care of you.
We have been debt free for going on three decades, and using the banks money to pay our Bills, and then repay them inside the Grace Period, so we accumulate No Interest... Bruce's Trading Post has 6 figure Lines of Credit, going back five decades, We keep these available, for Emergencies, and large Unpredicted expenses. (Like being stuck in a Hospital for 6 weeks).. Buying our New Place, was all done with Land Trades, and our only cash input was Closing Costs, which came out of current income.. When the FED starts wanting back all the “Funny Money” they have been pumping into the Markets, a ton of folks are going to go under, as well as a ton of institutions that are playing “Fast & Loose” with those pumped in funds... and Crash City will hit the whole world, smack in the face...
You all kind of jumped off the subject. But yeah I have no debt also. I was thinking more about our society going down the tubes. All the things we take for granted going away. I ate at the Sizzler today and I pondered a future where this wouldn't be happening as I oinked out on fried shrimp. Corrupt psychopaths will be society's downfall.
Yep, the posts above address individual monkey's approaches and thinking. Dot gov does NOT have the discipline of individuals, and allows itself to spend beyond its means. That spiral eventually is going to have a payback that society may not be able to pull out of its wallet.
The Dot Gov doesn't need financial discipline ,,, they have 350 million plus wallets to help fund their expenses .
Not really about 44%-47% are net takers while 53%-56% are net producers supporting the 44%-47%. The 44%-47% though is a bit off though as they Count folks that receive Social Security in those percentages. Can't really call someone that paid in their whole life and collecting SS a take or blame them for the mismanagement of Social Security. Get right down to the nuts and bolts of it and half the population is working to support the other half of the population and however many millions of illegals in sanctuary cities and states are sucking off the public teat. There is a lot more than just banks, the fed, student loans, and a house of cards stock and bond market. The major collapse that is coming down the pike is going to make 2008 look pleasant and prosperous. Just my opinion
When I lived in Oklahoma I only paid excise taxes on gas and cigarettes (until I quit smoking). One hundred percent disabled vets pay no sales tax, property tax (on one property), and car tag is free (for one vehicle). Also the VA and Social Security checks aren't taxed, so I had more money left over at the end of the year for fun things. When I moved back to Arkansas I lost the sales tax (almost ten percent now (9.5%)) exemption but the property tax is free and car tag is twelve dollars. I accrued a mortgage by moving, but it's a much better place that's easier to maintain than my old place and it's almost paid for. Some debt is okay, but I see people using credit cards to pay for everyday purchases and not paying it off before the end of the month. The debt keeps piling up since they only pay the minimums.
