Im bowing out

[TN2shot07]

But then you park you assets offshore and declare bankruptcy.

Nope, I have to live with my decisions and that’s no different than a thief

 

[Pagosa]

I ask myself that all summer long when I see people who appear to be in the late 20s or young 30s pulling into our small town that is mostly second homes with a new ford 250 diesel and a 25’ wakeboarding boat followed by their wife with a brand new suburban pulling a sxs for the kids to drive around town.

I see this every summer while in Montana. I see a lot of BMW cargo/camper vans. I’ve come to the opinion they are just in debt.

 

[MarvB]

A top 20% salary is $100,000 or over, 10% of households make over 200k.

So something like 30 million + people.

If there are 100 people responding to this thread and HT is representative of the nation then 1 person is making over a million a year, 5 people like 500k, 10 people over 200k and 20 people over 100k.

I know it’s basically saying it the same way but when you take those numbers and bracket them, it’s probably pretty well in line with reality; 100 HTalkers:

1 person makes 1m+ a yr,
4 people make 500k to 1m
5 people 200k to 500k &
10 people 100k to 200k

 

[Nick87]

You been to America? We literally liked this so much we elected the dude who made this his brand.

I'm gonna steer around that rabbit hole.

 

[Deleted member 28227]

I'm gonna steer around that rabbit hole.

“I’m the king of debt. I’m great with debt. Nobody knows debt better than me,” Trump told Norah O’Donnell in an interview that aired on “CBS This Morning.” “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.”

It’s not meant to be political, if we discuss Ramsey you have to bring up Trump. It’s his self declared business model.

 

[Deleted member 28227]

I know it’s basically saying it the same way but when you take those numbers and bracket them, it’s probably pretty well in line with reality; 100 HTalkers:

1 person makes 1m+ a yr,
4 people make 500k to 1m
5 people 200k to 500k &
10 people 100k to 200k

Yeah I got lazy on my formatting, thanks.

 

[VikingsGuy]

I'm sorry I didn't say the world was going to end. As for the world's smallest amount of wars in the last 50 yrs I don't know about that. Seems to me wars never stopped. Please give me a time frame when the world was at peace? War is usually started over some one or country that wants what some else's has. Money with out a gold or silver or something backing it is just paper. In fact that is exactly what our currant money is. Their was a time you could go to the bank and ask to change your paper bill for actual gold. So if money isn't wealth what is. Land, oil, coal, water, timber, minerals oh yeah natural resources. That's what country's fight over not paper. Other country's get pissed off when one country gives them paper for their natural resources and says it's money take it or I'll bomb you

A lot to unpack, but here are a few thoughts. First, you have not been able to redeem dollars for gold at a bank since 1933. So, no one reading this thread who is less than 90 years old has ever lived under that system and no one under 105 has actually done this. Second, I can’t think of any significant war started in the last 200 yrs by failure to pay a monetary debt. And if they would go to war to take your land/resources (as certainly has been the case) they clearly could also take your gold. As an aside, the largest predictor of major wars in the last 1,000 years is rise in male/female population balance in 15-30 yo age group (watch out for China). Finally, every major war in the last 500 years has been debt financed, not gold financed.

I agree inflationary policies will come home to roost if not done right (and we lost our minds with that last fiscal stimulus bill), but the worst case outcome is a lot more likely to be 1970s under Carter than fiscal apocalypse like Argentina, Zimbabwe or 1930 Germany.

 

[Midwestwhitetail]

But when that couple dies they got to have a boat at the lake and you didn’t… and you don’t take your assets or debt with you.

So I mean, why die at $1MM when you could die with -$3MM and make everyone else fund your fun.

I don't disagree that you can't take it with you and letting "someone else fund" it would be sweet. But if I have so much in payments then my hunting season is shorter. My vacations are shorter. You still have to make the money to pay for the fun that "someone else is funding". Or that fun is gonna be very short lived. So with minimal to no payments my hunting trips are 2 weeks instead of 5 days. The idea of "someone else funding" doesn't make sense to me. Your still paying for it weather it's up front or with interest tacked on. I am 28 and my grandpa just passed away at 101. If I am gonna 3rd party fund my fun I am gonna have to wait a few years before I start lol.

 

[VikingsGuy]

“I’m the king of debt. I’m great with debt. Nobody knows debt better than me,” Trump told Norah O’Donnell in an interview that aired on “CBS This Morning.” “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.”

It’s not meant to be political, if we discuss Ramsey you have to bring up Trump. It’s his self declared business model.

Even when the guy tries to take the high road @wllm1313 gets in his pithy comment

 

[VikingsGuy]

Even when the guy tries to take the high road @wllm1313 gets in his pithy comment

@wllm1313 quote from another thread, “Sometimes you just want to make a snarky comment and you just look for an easy target, sorry buddy.”

 

[Deleted member 28227]

All this debt is fueled by predatory marketing

 

[RemingtonRules]

I bought my first home this year. I don't see prices dropping. Will they increase at the same rate as 2020 no, but they will still keep going up. There is a massive inventory shortage which will continue to drive prices up even as rates go up. With rates going up it may end up costing more in the future even if home prices are steady.

Don't be foolish and waive the inspection, pay appraisal differences. There are deals out there, but you have to be ready to move.

I know people that bought when the most recent housing bubble was overinflated. They lost. Right now the market is high across the board. It will not sustain, some areas will be impacted more than others. I think it is smart to wait unless you see yourself in your home for 10+ years.

 

[VikingsGuy]

@VikingsGuy say something relevant I can quote you on, I want to use this gif

View attachment 212080

All this debt is fueled by predatory marketing

 

[Gellar]

But when that couple dies they got to have a boat at the lake and you didn’t… and you don’t take your assets or debt with you.

So I mean, why die at $1MM when you could die with -$3MM and make everyone else fund your fun.

I have a boat at the lake. It’s not a 25’ wakeboard boat, but I’ll bet my paycheck I can wakeboard or ski better then 90% of the people in Iowa with one of those fancy boats.

 

[SAJ-99]

I'm sorry I didn't say the world was going to end. As for the world's smallest amount of wars in the last 50 yrs I don't know about that. Seems to me wars never stopped. Please give me a time frame when the world was at peace? War is usually started over some one or country that wants what some else's has. Money with out a gold or silver or something backing it is just paper. In fact that is exactly what our currant money is. Their was a time you could go to the bank and ask to change your paper bill for actual gold. So if money isn't wealth what is. Land, oil, coal, water, timber, minerals oh yeah natural resources. That's what country's fight over not paper. Other country's get pissed off when one country gives them paper for their natural resources and says it's money take it or I'll bomb you.

Best I can tell from this post, history was not your strongest subject. Lots of book out there on the history on fiat money. Might be the best $15 you ever spend. At the end of the day, we have to live in the world as it works, not in the world we wish existed.

 

[Gellar]

She’s a geologist he’s a dentist, together they make 400k.

Is geologist the same as gold digger?

 

[Pagosa]

I used to think the same, until I started to notice how thin people will spread themselves with debt.

In all reality he's probably a foreman on a construction site, and she's in HR. They take home $150k a year combined and pushing their debt to income ratio to 50%+

I think your barking up the right tree.

 

[hank4elk]

320 million of us make less than $200k.

I voted #1 as I have no debt, not rich by any means. But my ranch is bigger than Julia Roberts ranch...LOL

 

[Gellar]

But when that couple dies they got to have a boat at the lake and you didn’t… and you don’t take your assets or debt with you.

So I mean, why die at $1MM when you could die with -$3MM and make everyone else fund your fun.

And I think a more realistic situation, around northeast Iowa anyways, is several young families go into a cabin together, 1 family buys the boat, one family buys the sxs’s, one family buys the cabin and they all use them without making payments or the bare minimum until the bank takes them all away.

 

[Deleted member 28227]

Is geologist the same as gold digger?

No that was actually literal, geologists make bank.