Posts Tagged ‘house’

Expect Happy?

Posted: June 16, 2019 in Thought for the Day
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“We expect the next car, the next house, or the next promotion to make us happy even though the last ones didn’t and even though others keep telling us that the next ones won’t.” -Harvard psychologist Dan Gilbert

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“The phrase ‘just because you can doesn’t mean you should’ applies to almost everything in your life… Just because you can buy an expensive house doesn’t mean you should. Just because you can skip work today doesn’t mean you should… The list goes on.” -Dr. David Eifrig

“This number (10-year treasury note) is probably the most important number in modern capitalism. It tells us the ‘risk-free’ price of money… which is to say, it tells us the cost of borrowing money, or more abstractly, the price of the future.

The more you borrow today, the more time you will have to take away from tomorrow to pay it back. Eventually, you run out of time… and out of luck.

To put that in more concrete (or wood and plastic) terms, the higher your mortgage rate… the longer you have to work to pay for your house.” -Bill Bonner

“In the same year that the Declaration of Independence was adopted, Edward Gibbon published the first volume of his masterpiece, The History of the Decline and Fall of the Roman Empire.

The Founding Fathers were well aware of the transition – natural, and perhaps inevitable – from republic to empire. They had studied it in the Roman example. They had seen how it drew power into a few hands… and corrupted them.

They tried to prevent it from happening in the New World, putting in place limits… circuit breakers… and checks and balances… to keep the government from becoming too big, too ambitious, or too powerful.

Even then, they were doubtful that it would stick. ‘We give you a republic…’ Franklin wrote to posterity, ‘if you can keep it.’….

Time and scale have changed the nature, not just the age and the size, of the United States of America. It has become something the Founding Fathers had tried to avoid… and almost certainly wouldn’t like….

Citizens still have the right to life, liberty, and property – but only to the extent that the feds allow.

They can keep their firearms, for example, but the feds can label them terrorists… and kill American citizens.

They still have the right to express themselves under the protection of the First Amendment, unless their opinions are considered ‘hate speech,’ or the feds – or their agents at Facebook and Google – just don’t like what they say.

Your property is still safe, too; but under the doctrine of civil forfeiture, the police can take your money, your cars, and your house… with no due process of law….

Empires are very different from republics. They are no longer by, for, and of the people. They’re too big… too complex… with too many fingers in too many pies for the people or their elected representatives to keep up with.

So power migrates to the center. There, where the CIA, NSA, Pentagon, NIH, FBI, IRS, and dozens of other agencies… along with the corporate headquarters of hundreds of big industries… and thousands of pressure groups, lobbyists, factotums, hacks, think tanks, NGOs, powerful families, and apparatchiks reside, is where the real power flows.

There, too, in Rome as in Washington, the power congeals.”

-Bill Bonner

“Traditionally, inflation has been defined as ‘an increase in the amount of currency in circulation’….   Unfortunately, in recent decades, even dictionaries have been offering a revised definition of inflation, as ‘an increase in the price of goods and services’….

The purpose of bank-created inflation is to extract wealth from the populace.  By regularly increasing the amount of currency in circulation, banks create an environment in which the concept of debt appears to be beneficial. As a result, virtually everyone in today’s society not only has debt; he actually believes that he couldn’t improve his life except through debt….  In essence, the inflation concept was invented by banks as an invisible tax—a means by which they could extract wealth from the populace.

In effect, the individual is used by the banking system as a milk cow. For his entire working life, inflation is carefully adjusted to extract as much monetary value from his labours as possible, whilst still leaving him capable of continued production….

Refuse to borrow money for any situation. Yes, it will mean that, as your friends show off their new cars, you’ll be driving an older model. They’ll also live in nicer houses than you and they’ll ‘own’ their own house before you do. But, at some point, since you’re free from debt, you’ll pass them by and eventually retire well.

By understanding inflation, and acting on that understanding, the odds of living your life as a milk cow can be greatly diminished.”

-Jeff Thomas

Debt Trap

Posted: February 21, 2018 in Debt
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“You’re going to be a wage slave your whole life… You’ve got to borrow money to buy a house. You’ve got to borrow money to buy a car. You’ve got to borrow money to get a college degree. You’re trapped in this complete cycle.” -Porter Stansberry

I don’t have an iPhone… or a blingy Suburban…  But I probably have one thing these conspicuous consumers don’t: The house I live in is fully paid for.  I handle my money differently.  I could buy an iPhone or a Suburban tomorrow.  I wouldn’t need a penny of debt to do it.  But I won’t… Why?  Because I know those things won’t make me the slightest bit happier.  I’d be the same dolt I was before.” -Steve Sjuggerud