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EvenBob
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June 18th, 2018 at 12:06:20 PM permalink
Quote: ZenKinG

Debt is never good. While you might get some short term benefits by not having to put a lot of money upfront and allow you to purchase things you otherwise couldnt such as a nice house, it completely destroys the economy, that's what people dont understand.



What's amazing is, you have no
understanding of how present
day society works. None. And
wising you up seems to be a total
waste of time.
"It's not called gambling if the math is on your side."
Dalex64
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June 18th, 2018 at 12:09:48 PM permalink
Quote: ZenKinG

Every single loan or borrowing that occurs, that is money being lent out of thin air by the federal reserve to these financial institutions.



That's another amazing misconception.
rdw4potus
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June 18th, 2018 at 12:12:02 PM permalink
Quote: ZenKinG

Debt is never good.



All debt? Really?

Taking out a mortgage instead of paying up front for my house lets me invest free cash that I wouldn't otherwise have at an RoR that exceeds my mortgage interest. How is that not +EV?

I buy everything on a credit card and pay it off every month. That's short-term interest-free debt. I just flew two people round trip first class using the spiff from the credit card company. That's not a good use of short-term debt?
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
Zcore13
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June 18th, 2018 at 12:32:20 PM permalink
Quote: ZenKinG

Debt is never good.


Quote: ZenKinG

Every single loan or borrowing that occurs,

Quote: ZenKinG

All debt and borrowing needs to cease to exist if this country ever wants to be the strongest nation in the world like it used to be centuries ago.



All completely false. And your stubbornness(a long with your temper maybe) is what is going to not allow you to succeed.

Now dont't get me wrong. There is nothing wrong with a little bit of stubbornness. Winners and good leaders always have some. Just usually not when presented with facts to the contrary and expert opinions demonstrating a grasp of the situation.


ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
Romes
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June 18th, 2018 at 12:48:15 PM permalink
Quote: EvenBob

What's amazing is, you have no
understanding of how present
day society works. None. And
wising you up seems to be a total
waste of time.

Well dammit now the day is ruined... I agree with EB.
Playing it correctly means you've already won.
petroglyph
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RogerKintrdw4potus
June 18th, 2018 at 1:05:22 PM permalink
The cash notes that you hold dear, are nothing but debt coupons of zero duration.

You are in the debt game, whether you realize it or not, just playing by rules you have made up. And none of us know "the rules", so we can't play and we can't help. Like when the family gets together and plays monopoly, we put the fines in the middle and when someone lands on free parking, they get to collect the pile.

You want to do real money? Start using gold, it's not very convenient though is it? No sense in haranguing the rest of us for playing by the rules as we see them.
billryan
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June 18th, 2018 at 1:10:32 PM permalink
Debt is never good. At best it is a necessary evil while you acquire your first real wealth. Most people need to borrow money to buy a house. Few people need to borrow for their cars. Fewer still need to borrow to finance a trip to Disneyland. People have to differentiate between needs and wants. I need to eat. I want to eat steak.
I need a car. I want the latest rice burner with autodrive and Alexa built in.
In NY, I had a friend who allowed himself $200 a week for assorted stuff. Half the time he use his ATM card to buy the stuff and would think he was accomplishing something when he had cash left over.
Simple fact is most charge transactions are larger than cash ones. When all you have in your pocket is a single $20, you don't spend it as fast as if you had a debit or credit card.
The difference between fiction and reality is that fiction is supposed to make sense.
OnceDear
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June 18th, 2018 at 1:44:47 PM permalink
Quote: ZenKinG

Debt is never good.



When you rent a home, that's debt: The landlord is lending you the home, which probably cost a lot more than you can afford and the rent that you pay him is his 'interest'

That's why he wants to know that you have a good record repaying your debts: He primarily wants to know that he will get his property back in good order, probably more so than his rent.

I've rented out a home and been stiffed by my tenant. Not only did she fail to pay rent, she failed to leave on time and when she left, the property was not in good order.

So If you don't like debt, just buy a home for cash or build your own. Maybe Nathan can get Walmart to give you some cardboard boxes.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
TigerWu
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June 18th, 2018 at 1:53:42 PM permalink
Debt itself is not inherently good or bad. It's just a financial situation.

If I get a $10,000 loan from a bank at 5% interest, I am in debt, but everyone on both sides has agreed to the terms and I have the means to pay the loan back plus the interest, so there is nothing at all that is "bad" about that.
petroglyph
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June 18th, 2018 at 2:05:31 PM permalink
Quote: OnceDear

I've rented out a home and been stiffed by my tenant. Not only did she fail to pay rent, she failed to leave on time and when she left, the property was not in good order.

Another reason for the spy cams.
OnceDear
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June 18th, 2018 at 2:17:27 PM permalink
Quote: petroglyph

Another reason for the spy cams.

LOL. I don't think that would have looked good for me when I take her to court for non-payment and to get her evicted, and she shows the judge the surveillance cameras that were hidden in every room.

Spy cams are so much smaller and easily hidden now and many other cams are openly operated. Many's the time, I've checked a room for cameras, and a few times I have used them, legitimately. Once, to get a thief thrown in jail for robbing my dad.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
EvenBob
EvenBob
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June 18th, 2018 at 2:25:47 PM permalink
Quote: Romes

Well dammit now the day is ruined... I agree with EB.



There was a time when debt was
looked down upon. But when
large appliances came along,
the only way people could
afford them was by monthly
payments. Hoover started selling
vacuums on credit and their
sales went crazy. Now every
wife could afford a vac for pennies
a week. Then Ford started selling
Model T's on credit and you see
where that went.

There's nothing wrong with spending
future income as long as you stay
within the guidelines.
"It's not called gambling if the math is on your side."
SOOPOO
SOOPOO
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June 18th, 2018 at 2:38:07 PM permalink
Quote: ZenKinG

Debt is never good. While you might get some short term benefits by not having to put a lot of money upfront and allow you to purchase things you otherwise couldnt such as a nice house, it completely destroys the economy, that's what people dont understand. People are so short sighted



I have been so short sighted I've been able to travel to scores of countries, live in a nice house, provide for my kids (and they are debt free!), have a nice cushion in the bank, and essentially do what I want, BECAUSE I PLAY BY THE RULES SOCIETY established. The economy is NOT COMPLETELY DESTROYED! As a matter of FACT, the use of debt has allowed great companies (FB, TSLA, MSFT, INTC, etc..) to develop the things that help make life easier for all of us that participate in society. If you want to keep fighting windmills, go for it.
Mosca
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June 18th, 2018 at 3:25:19 PM permalink
Ever see the movie Risky Business? And there’s that scene toward the end, where all Joel’s friends are getting it on with glamorous Hollywood hookers, and there’s Miles, off to the side, with his elbow patches and smoking a pipe, and he says, “Not me. I don’t have to pay for it.”

That’s what this reminds me of.
A falling knife has no handle.
TigerWu
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Romes
June 18th, 2018 at 3:40:43 PM permalink
I predict that within 10 years ZK will have a 9 to 5 office job, a mortgage, and several credit cards.
MrV
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June 18th, 2018 at 3:48:52 PM permalink
Quote: TigerWu

I predict that within 10 years ZK will have a 9 to 5 office job, a mortgage, and several credit cards.



Really?

I see a suicide in his future.
"What, me worry?"
petroglyph
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June 18th, 2018 at 4:02:52 PM permalink
All of the casino's were built on credit. Stupid casino's.
Nathan
Nathan 
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June 18th, 2018 at 7:37:12 PM permalink
Quote: OnceDear



I've rented out a home and been stiffed by my tenant. Not only did she fail to pay rent, she failed to leave on time and when she left, the property was not in good order.

.



That reminds me of a NASTY house on YouTube where an owner inadvertently rented to a nasty slob. The house looked like a literal garbage house. He was smiling but it could be presumed that he was smiling to keep from cracking. He had kicked out the tenant for making his property so incredibly disgusting. Posters were saying something like,"He also has himself to blame. How do you not notice the tenant messed up your house so badly?" The response was,"He lives in a different state than this particular house. He was just visiting to see how well his unattended(By him) held up while he was away at the other state and was in for a very bad shock."
In both The Hunger Games and in gambling, may the odds be ever in your favor. :D "Man Babes" #AxelFabulous "Olive oil is processed but it only has one ingredient, olive oil."-Even Bob, March 27/28th. :D The 2 year war is over! Woo-hoo! :D I sometimes speak in metaphors. ;) Remember this. ;) Crack the code. :D 8.9.13.25.14.1.13.5.9.19.14.1.20.8.1.14! :D "For about the 4096th time, let me offer a radical idea to those of you who don't like Nathan -- block her and don't visit Nathan's Corner. What is so complicated about it?" Wizard, August 21st. :D
RS
RS
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June 18th, 2018 at 7:45:20 PM permalink
Quote: ZenKinG

Debt is never good. While you might get some short term benefits by not having to put a lot of money upfront and allow you to purchase things you otherwise couldnt such as a nice house, it completely destroys the economy, that's what people dont understand. People are so short sighted and only care about how much money is currently in their wallet, but have no grasp of economical long term damage it's actually causing them by having thid debt fiat printing fiaso system in place. Every single loan or borrowing that occurs, that is money being lent out of thin air by the federal reserve to these financial institutions. What is the result of this? A depreciating currency and inflation which thereby lowers everyones standard of living.

So while you might not be directly affected by the use of debt cause you can pay it off or manage it well, you better believe you're being indirectly affected by it and badly. Also this is assuming you can manage your debt well and not take on 'too much', which 95% of the population cannot, because the people that cant manage it well theyre not only affected indirectly but directly as well. All debt and borrowing needs to cease to exist if this country ever wants to be the strongest nation in the world like it used to be centuries ago. Once the federal reserve came into effect, thats when America lost its purchasing power, coincidence? I think not


I thought I and others have explained it rather clearly. It's the utility of money. If you have $200k, do you think you could turn that into well over $600k over the next 20 or 30 years? The answer should be an obvious "Yes!" If that's the case, why would you pay cash for something in full?

If I have $200k cash, I can spend it all on a house. If I don't buy a house, I can turn that $200k into $1M (at least) over 10 years. So what do I do? I make a 20% downpayment on the house, and now I have $160k cash plus a $160k loan. Over the next 30 years I'll have paid about $480k into that loan (for example). But that $160k cash I had, what happens to that? That turns into $800k after 10 years, a few million after the next 10 years, and even more by the 30'th year. By taking out a mortgage, I'd now have several million dollars plus a house. Had I paid all cash, I'd just have a home and not been able to make a good amount of money in the mean time.


Debt is bad when you spend more than you have or more than you're making. But then again, that's kinda just common sense -- don't spend more money than you have. Debt is good when you get money at a cheap rate or can make more money than you otherwise would have been able to.
EvenBob
EvenBob
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June 18th, 2018 at 8:01:28 PM permalink
Nobody here gets it. ZK is a Millennial,
he was born in the 90's. He has the
same sense of entitlement all of
them have. You see articles about it
all the time. The rules don't apply
to them.

They want a house just like their parents
house, but they don't want mortgage
payments. They want the big car, and
lifestyle, but they want it given to them.
They want to skip the part of life between
25 and 45 when all that stuff happens.

Look at ZK, he's an expert on everything
and has done nothing. He's the Millennials
poster boy..
"It's not called gambling if the math is on your side."
ZenKinG
ZenKinG
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RS
June 18th, 2018 at 8:58:38 PM permalink
Quote: EvenBob

Nobody here gets it. ZK is a Millennial,
he was born in the 90's. He has the
same sense of entitlement all of
them have. You see articles about it
all the time. The rules don't apply
to them.

They want a house just like their parents
house, but they don't want mortgage
payments. They want the big car, and
lifestyle, but they want it given to them.
They want to skip the part of life between
25 and 45 when all that stuff happens.

Look at ZK, he's an expert on everything
and has done nothing. He's the Millennials
poster boy..



Nice try to bait me again but luckily im too smart for you once again. You tried to misconstrue what I said to fit your agenda. You said I dont want mortgage payments, but it was never because I dont want to pay for it or work for it, but because of a whole different reason. When did i say I want 'everything given to me'? Ill wait... Lastly how many millenials have my exact view on money? You wont find many but nice try to bait me and to also fit me into some stereotype of a millenial just because I was born as a millenial.
Any private business open to the PUBLIC (ie. droned out casinos) cannot have a criminal trespass enforced against an individual without GOOD CAUSE (Disruptive or Disorderly conduct). You will never go to prison for being thrown out of a casino for legal advantage play and then returning because it's simply unconstitutional 'as applied' to the individual. 'As applied' constitutional issues must FIRST be raised in DISTRICT COURT (trial court) to have it thrown out. You CANNOT raise it on APPEAL This is the best kept secret in the world of casinos not just in Vegas but everywhere in the country. Thank me later.
Boz
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June 18th, 2018 at 10:37:01 PM permalink
As long as there are ZK’s and others like him, smart real estate investors will always get richer owning rental properties. All the while being suckers borrowing on credit to buy more properties.

Damn some of us are such fools and tools of the system, renting to the truly smart ones, even if they get upset when we have expectations of our tenants.

After a long day of flights and delays, leave it to ZK to make my day and give me a laugh.

Thank you ZK, you truly are one of a kind. By the way, how’s that bankroll/ lifeline/everything you have?
Last edited by: Boz on Jun 19, 2018
EvenBob
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June 18th, 2018 at 11:08:58 PM permalink
Quote: ZenKinG

Nice try to bait me again



I don't care enough about you to
bait you. I post for my own
edification, not somebody elses.

(look up edification, you know you want to)
"It's not called gambling if the math is on your side."
GlenG
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June 19th, 2018 at 4:01:11 AM permalink
Quote: EvenBob

Nobody here gets it. ZK is a Millennial,
he was born in the 90's. He has the
same sense of entitlement all of
them have. You see articles about it
all the time. The rules don't apply
to them.

They want a house just like their parents
house, but they don't want mortgage
payments. They want the big car, and
lifestyle, but they want it given to them.
They want to skip the part of life between
25 and 45 when all that stuff happens.

Look at ZK, he's an expert on everything
and has done nothing. He's the Millennials
poster boy..




As a millennial with a 802 credit score I find this offensive. I need a safe space now. Dont wanna be lumped in the same category as him Lol
Nathan
Nathan 
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June 19th, 2018 at 5:25:41 AM permalink
Quote: GlenG

As a millennial with a 802 credit score I find this offensive. I need a safe space now. Dont wanna be lumped in the same category as him Lol



802 credit score! WOW! :D Credit companies will treat you like a King at that score! They will proverbially kiss your butt and give you 5 star hotels, first class tickets, getaways to exotic locations, you have it made with a score of 802! :D
In both The Hunger Games and in gambling, may the odds be ever in your favor. :D "Man Babes" #AxelFabulous "Olive oil is processed but it only has one ingredient, olive oil."-Even Bob, March 27/28th. :D The 2 year war is over! Woo-hoo! :D I sometimes speak in metaphors. ;) Remember this. ;) Crack the code. :D 8.9.13.25.14.1.13.5.9.19.14.1.20.8.1.14! :D "For about the 4096th time, let me offer a radical idea to those of you who don't like Nathan -- block her and don't visit Nathan's Corner. What is so complicated about it?" Wizard, August 21st. :D
onenickelmiracle
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June 19th, 2018 at 6:32:28 AM permalink
Be nice to zk. The rudeness and meanness is 100 times worse than doled to Nathan.
I am a robot.
TigerWu
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Romes
June 19th, 2018 at 7:53:27 AM permalink
Quote: EvenBob

Nobody here gets it. ZK is a Millennial,
he was born in the 90's. He has the
same sense of entitlement all of
them have. You see articles about it
all the time. The rules don't apply
to them.



That's not a "millennial" problem. That's an "upbringing" problem and a "youth" problem. It's not exclusive to the millennial generation. Every generation before them has had the same problem children in it.
FinsRule
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beachbumbabsmcallister3200gamerfreakRogerKintRomesMaxPen
June 19th, 2018 at 8:09:40 AM permalink
I have found that the baby boomers are the most entitled generation on average.
TigerWu
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June 19th, 2018 at 8:29:05 AM permalink
Quote: FinsRule

I have found that the baby boomers are the most entitled generation on average.



On average, yeah, I agree. I mean, they're nicknamed the "Me Generation," for crying out loud. My wife has been in retail for almost 20 years, I've been in it for almost 10... we both agree Baby Boomers are the rudest, most entitled customers.

But like I said, there are also people like that in ALL generations, Millennials included.
beachbumbabs
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June 19th, 2018 at 8:48:50 AM permalink
Quote: FinsRule

I have found that the baby boomers are the most entitled generation on average.



That's been my experience, too. We (boomers) take a HUGE amount for granted and make unjustified demands of resources no longer available. Each Gen after ours has become successively more aware of there being a shared planet, college and job training at huge costs, fewer good jobs until recently, etc etc. And they rightfully regard us as demanding and wasteful.

The one exception is really old American people on cruise ships. I've gone cruising for the past 30 years, and it never fails. I think they think they're paying a lot to be spoiled rotten, and the crew is there to be b!#/!ed at, so they really make sure they get their moneys worth. Talking about people now in their 80s or older, or now dead. Previous to boomers.

Haven't gone since 2013, so I don't know how it is these days I can only imagine, when you add Boomer attitudes to that situation, it's got to be unbearable.
If the House lost every hand, they wouldn't deal the game.
TigerWu
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RogerKint
June 19th, 2018 at 9:26:13 AM permalink
Now do you finally believe baby boomers are the most selfish generation?

How the baby boomers - not millennials - screwed America.

How baby boomers broke America.

Even if you don't want to read all of that, and still want to hate on Millennials, tell me again which generation was the one that RAISED Millennials in the first place?

Oh, yeah.... Baby boomers.

EDIT: One more..... Baby boomers don't work harder than younger generations.
Romes
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June 19th, 2018 at 9:27:28 AM permalink
Quote: TigerWu

That's not a "millennial" problem. That's an "upbringing" problem and a "youth" problem. It's not exclusive to the millennial generation. Every generation before them has had the same problem children in it.

Quote: FinsRule

I have found that the baby boomers are the most entitled generation on average.

I could not agree with both of these posts more.

I posted this some time ago in a "millennial rant" type thread here...

Playing it correctly means you've already won.
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