Living in Vegas rant
Quote: ZenKinGDebt 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.
Quote: ZenKinGEvery 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.
Quote: ZenKinGDebt 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?
Quote: ZenKinGDebt is never good.
Quote: ZenKinGEvery single loan or borrowing that occurs,
Quote: ZenKinGAll 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
Well dammit now the day is ruined... I agree with EB.Quote: EvenBobWhat'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.
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.
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.
Quote: ZenKinGDebt 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.
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.
Another reason for the spy cams.Quote: OnceDearI'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.
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.Quote: petroglyphAnother reason for the spy cams.
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.
Quote: RomesWell 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.
Quote: ZenKinGDebt 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.
That’s what this reminds me of.
Quote: TigerWuI 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.
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."
Quote: ZenKinGDebt 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.
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..
Quote: EvenBobNobody 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.
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?
Quote: ZenKinGNice 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)
Quote: EvenBobNobody 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
Quote: GlenGAs 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
Quote: EvenBobNobody 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.
Quote: FinsRuleI 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.
Quote: FinsRuleI 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.
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.
Quote: TigerWuThat'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.
I could not agree with both of these posts more.Quote: FinsRuleI have found that the baby boomers are the most entitled generation on average.
I posted this some time ago in a "millennial rant" type thread here...
