Well said.
$1,300+ monthly payment????!!!!!!
- Thread starter BigJohn
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That's nuts. What kind of jobs pay that much? That's roughly 3x what I gross in a month.
Jackson_Slugger
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My friend is one of those F&I guys, and yes people are absurd...
You two have terrible memories or are too young to have fully experienced "too big to fail" and bailouts of the century.
This kind of behavior being talked about in this thread DOES affect people that live their lives differently. Those people usually do things conservatively, always have back-up plans, try not to put themselves in too deep and, most importantly, generally never seek the help of the tax payers to bail them out of poor decisions.
It boils down to simple math and that is the primary reason so many people are talking about this stuff. Those of us with a little bit of life experience and the ability to operate an $8 Walmart Calculator know that this stuff isn't right. YMMV....
Ah, debt. What is debt? Debt is a tool; use it correctly and it gets the job done. Use it incorrectly and you just might hit your thumb with that framing hammer.
Unfortunately some people max out their debt, declare bankruptcy and walk away from it.
Yep. During the CA housing downturn of the early 2000's, people walked away from bad mortgages.
Of course if they chose or had been able to hold on, they could be sitting pretty right now.
FYI debt scares me. But it got me a pretty nice place to live, so there's that.
Older generations make and vote for policies that affect future generations. The biggest policy change from decades ago that will eventually decide every issue I probably can't say here without it getting political, but I'll use a more obvious example of the national debt. It used to be nothing, then it was a trillion, now it is 31+ trillion. Debt affects future generations in a financial way.
Even the recent example of current inflation and the raising of interest rates to combat it. It's a small example relative to many larger examples, but past decisions do affect the future.
When it's personal bankruptcy it's a stigma, when it's a filthy rich fat cat bankrupting one of his companies while sitting on a pile of cash then it's just considered business.
Not for agriculture, well so far anyway. I bought it because I didn't want someone else to buy and build on it. I like my privacy and the only suitable building site was right by my yard. Use it for hunting though and it sure increased the value of my place if I were to sell.
The voting age is 18.
Yeah but the average age of the senate is 63.9 years old and the house is 57.5… most of which are completely out of touch with reality for most Americans.
So why doesn't the younger generation vote them out? Instead they vote in, and reelect people like AOC. Where do they think that is going to get them? Old doesn't guarantee bad, anymore than young guarantees good.
People keep complaining about, "lifetime members" of our government. And in the same breath they scream for term limits. If they stopped voting for them, you wouldn't have or require either.
If you need proof, look at our current leader. Then you have voter apathy, which is pathetic in this country. Almost 40% of eligible voters don't show up to vote. Who are you going to blame that on?
Turnout in U.S. has soared in recent elections but by some measures still trails that of many other countries
When comparing turnout among the voting-age population in recent national elections in 50 countries, the U.S. ranks 31st.
www.pewresearch.org
When was this and what was your closing cost?
This is exactly it in a nutshell. The last thing to appear on the bottom of the last page on ANY mortgage or loan contract is your signature. No one forces you to sign. Many states even provide a 3 day grace period, allowing you a 72 hour window to back out of it, and terminate the contract.
People not only willfully sign on to this financial suicide, they all but stand in line to do it. Since when have you ever heard of a, "new car shortage"? Usually dealers have massive sales to move out last years models, to make room for the new one's. Not anymore.
Today these idiots stand in line to pay 6 digits for a used vehicle, that is selling for over what a new one would cost. Car salesmen used to have to work to get your money.... Today all they have to do is put a bushel basket next to their desk, and the customers will fight each other to dump it in.
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Well said, for some of us debt means we purchased an appreciable asset that is obviously something we couldn’t pay for out of pocket, but by buying something like that we experienced THAT asset increasing in value, and benefited from it.
Total and complete failure of logic.
Those people who make those bad policies are voted in overwhelmingly by the younger generation. The last of the boomers (64) such as me have been disgusted for years now.
PLUS and MAINLY - blaming an entire generation for the socialists in power? Sure when the elections are won by a plurality, or even majority.
Not serious at all. I enjoy poking the bear. Your post is excellent.
I'm a boomer - the one thing we managed to do right raising our kids (in their early 40's) was to instill a good work ethic and reasonable financial skills, with a few bumps in the road like all of us. Having said that, the past 20 years have presented much different challenges to my kid's generation. I think your post is doing what I recently got called out for: stereotyping and painting with a broad paintbrush. I work at a university and I can assure you there are lots of young people that have their nose to the grindstone, work part time, and are pursuing good careers. With the current turn of events, I think there will be lots more opportunities for young people to develop successful careers without a college degree.
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