An honorable member of the Coffee Shop Has Just Posted the Following:
Debts are just a kind of lure. Before every economic crash, they are always preceded by a period of easy money (eg. weimar republic) or cheap interest rates (subprime). Hahaaa, today, we have both; easing + low rates and bubbled leveraged asset prices. This is how how each generation gets wiped-out.
In one way or another, I have been trying to encourage you to get out of debts now. There are no such things as good debts or bad debts when interest rates are rising - these are just sales talk by loan salesmen.
Read what you read carefully, people share with you about superior yields without exposing the hidden capital losses. I have also received unhappy pm from people who bluntly call me a fearmonger. Look, there is a big group of sellers here who want to encourage you to buy things from them to bail them out.
Yes, defaulting multi-millions is a glamorous defeat because such people usually have some spare bullets hidden somewhere, but most of us don't. 2 members in my extended family are bankrupted and they never recovered. Unlike computer games, there is no way to restart for most of us.
There are still 101 things out there for you to invest or buy, but maybe, just avoid things that are highly geared.
Thread carefully.
Click here to view the whole thread at www.sammyboy.com.
05-04-2014, 01:50 PM
Get out of debts
