Turtlesoup
Diamond Member
- Aug 10, 2020
- 15,903
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Don't panic...so if you borrowed several times your salary but instead of buying a house (an asset) you gambled it all away or gave it to your dead beat children--------you think there wouldn't be a problem.Well, No, as a matter of fact. Gross National Product is around $20 Trillion Dollars or more. I do not have an expensive house by US Average, but I borrowed several times my annual income to finance it and can tell you it works if you are not going out of business or quitting your job. Don't panic just because Democrats are doing the spending instead of giving it back to to the 1% millionaires and billionares. Will it cause inflation? Yep. Maybe my savings will be worth better interests. Being dept free and only doing fixed rate when wasn't, has put me in pretty good position to stay ahead of the curve.Does $30T strike any fear in you?We do alright in the global economy and globally in general. The "globalist" thing really doesn't strike much fear in me.Bush is a globalist. What did you expect him to say?Just heard President Bush on a podcast. He doesn't believe it. He doesn't believe it was ever stolen. Did not enjoy his time in office, but nice to know there are rational republicans out there.He believes it. His Trumpsters believe it. When it doesn't happen, they'll play the victim.The man is losing his tiny mind.
All we can do at this point is stand back and observe.
Trump is a loser chump.
I own my house---------and I bought well below my means. It worked out much better than buying much more house than my income. Paid my house off in less than 3 years------saving me a boatload of money in interest and taxes AND boosted my credit score so even if I wanted to borrow again, my interest rate would be super low. Foolish to buy above your income--the carrying costs is a huge black hole.