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Thread: Cash-strapped Americans are leveraging their homes to pay the bills

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    Quote Originally Posted by anonymoose View Post
    It's as if there's two different currencies.
    You mean "Two different Classes". Yes. I agree.

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    Quote Originally Posted by Jack View Post
    30K might buy you a tent in somebody's backyard in Walnut Creek.
    And Walnut Creek is "cheap" in the Bay Area.

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    Quote Originally Posted by cawacko View Post
    And Walnut Creek is "cheap" in the Bay Area.
    This trajectory is decades old now, goes back to the 70's.

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    Quote Originally Posted by Fentoine Lum View Post
    No, there are plenty of the folk you speak of on the coasts as well. Your party, both parties, bait you/us with false enemies lest you/we dare cast your/our gaze toward the power structure itself.
    Plenty of rich liberals on this board. You can ask them what they're doing to bring down this power structure that they inhibit.

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    Quote Originally Posted by Jack View Post
    I agree, but can still see people getting a pool or a Kitchen make-over because the Joneses down the street have a pool or new Kitchen.
    We were mindfucked with mass consumption as a way of life to float the economic system, some never got over it. They will, it will be forced on them, but many are going in debt just to survive now and an illness is still the trigger for most losing homes. Voting alone will never turn this around.

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    Quote Originally Posted by Sailor View Post
    Everyone of them. 50% up front, another 25% upon substantial completion, the last 25% upon acceptance and delivery. There has never been a mortgage on any of my vessels.
    Wow, how many do.you have?

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    Quote Originally Posted by cawacko View Post
    Plenty of rich liberals on this board. You can ask them what they're doing to bring down this power structure that they inhibit.
    Sure, "liberals", long as ya got scapegoats, nevermind.

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    Quote Originally Posted by Fentoine Lum View Post
    Sure, "liberals", long as ya got scapegoats, nevermind.
    It is what it is on this board. That's who the rich folks are.

    Do you have certain aristocracy in mind when you talk about them? Like the folks who live in multi-million dollar homes etc. who live around me? Or is it a rarefied aristocracy that you focus on?

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    Hello Sailor,

    Quote Originally Posted by Sailor View Post
    Everyone of them. 50% up front, another 25% upon substantial completion, the last 25% upon acceptance and delivery. There has never been a mortgage on any of my vessels.
    Interesting. Sounds like a lot of cash to sit on. That's not usually the wisest thing to do. Many good businesses and ventures would never make it off the ground without credit. Many workers would be out of a job without the ability of their employers to purchase assets on credit.
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

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    Hello Fentoine Lum,

    Quote Originally Posted by Fentoine Lum View Post
    We were mindf****d with mass consumption as a way of life to float the economic system, some never got over it.
    Thanks to Ronald Reagan.
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

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    Quote Originally Posted by cawacko View Post
    It is what it is on this board. That's who the rich folks are.

    Do you have certain aristocracy in mind when you talk about them? Like the folks who live in multi-million dollar homes etc. who live around me? Or is it a rarefied aristocracy that you focus on?
    Who did you bail out with socialism when they blew it up last time, and will again?

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    Quote Originally Posted by Havana Moon View Post
    Sadly there seems to be a return to junk bonds, could cause big problems down the line.

    https://www.cnbc.com/2018/09/07/bond...ield-bets.html
    thanks. I don't know what can be done about it though.
    Interests rates have to rise to get back from the artificial extreme low rates we had for the recovery.
    I don't know how you can force people not to over buy junk bonds

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    Quote Originally Posted by PoliTalker View Post
    Hello Fentoine Lum,



    Thanks to Ronald Reagan.

    I leverage Reagan more as a time stamp but yes; neoliberal societal wealth extraction economics. That's when things shifted, and it has been utterly bipartisan ever since.

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    Quote Originally Posted by Fentoine Lum View Post
    Who did you bail out with socialism when they blew it up last time and will again?
    So you don't like rich New York bankers. But don't you know many/most on Wall St are political liberals?

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    Hello Fentoine Lum,

    Quote Originally Posted by Fentoine Lum View Post
    I leverage Reagan more as a time stamp but yes; neoliberal societal wealth extraction economics. That's when things shifted, and it has been utterly bipartisan ever since.
    The 1980 election represented a turning point in our thinking. Jimmy Carter said we should be more thrifty. Ronald Reagan said the heck with that, let's spend like crazy! That's when people began buying on credit, running up card debt, and then it shifted into: "Hey! You can wipe out your card debt with a refi on your home! It's like MAGIC."
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