Far too many perverse incentives have been introduced- our economy and society are irredeemably corrupt (wealthiest, real estate)
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The economy has become so warped that everything is now "too big to fail." The government and the Federal Reserve will nationalize the entire economy before they let the stock market crash. There are no consequences, there is no reason whatsoever for anyone to be fiscally responsible and prudent. If it doesn't work out, everyone is getting bailed out anyway. So what's the incentive for managing your finances well? There are none. The fiscally prudent and responsible are suckers, fools, dupes.
To have a healthy economy, institutions, businesses, and individuals need to be allowed to fail. But that is intolerable. There will be no recessions as we know them- the Federal Reserve will print a quadrillion dollars before they allow that.
Since there's no reason to be financially prudent and responsible, we might as well all leverage ourselves to the hilt in an attempt to maximize our gains before the unavoidable crackup boom. Go deep into debt, buy loads of cryptos, tech stocks, buy multiple big city downtown condos. The market is just a casino anyway.
There's no reforming this irredeemably corrupt system. Perhaps after the well deserved collapse, we can have an honest economy on the other side.
It sounds like you are trying to justify going into big debt.
The system no longer rewards savers but some well known financial writers have said that buying assets like real estate are the smart things to do with these very low interest rates. They might be right.
It sounds like you are trying to justify going into big debt.
The system no longer rewards savers but some well known financial writers have said that buying assets like real estate are the smart things to do with these very low interest rates. They might be right.
I have negligible to no debt. However, I'm beginning to wonder what the point is- it's not like people like me are rewarded in the current system. In fact, we're punished.
All the debt is going to be wiped out by hyperinflation anyway- might as well take advantage of the endless tap of cheap credit while we can.
I have negligible to no debt. However, I'm beginning to wonder what the point is- it's not like people like me are rewarded in the current system. In fact, we're punished.
All the debt is going to be wiped out by hyperinflation anyway- might as well take advantage of the endless tap of cheap credit while we can.
unless we fall in to a deep depression instead ... nothing in your head is certain to play out that way. the sooner you learn that the better off you will be financially ... the brightest minds in this stuff on the planet cant predict this stuff.
if they could they would be the wealthiest people around .
the forbes 400 still has an opening for their first predictor .
The economy has become so warped that everything is now "too big to fail." The government and the Federal Reserve will nationalize the entire economy before they let the stock market crash. There are no consequences, there is no reason whatsoever for anyone to be fiscally responsible and prudent. If it doesn't work out, everyone is getting bailed out anyway. So what's the incentive for managing your finances well? There are none. The fiscally prudent and responsible are suckers, fools, dupes.
To have a healthy economy, institutions, businesses, and individuals need to be allowed to fail. But that is intolerable. There will be no recessions as we know them- the Federal Reserve will print a quadrillion dollars before they allow that.
Since there's no reason to be financially prudent and responsible, we might as well all leverage ourselves to the hilt in an attempt to maximize our gains before the unavoidable crackup boom. Go deep into debt, buy loads of cryptos, tech stocks, buy multiple big city downtown condos. The market is just a casino anyway.
There's no reforming this irredeemably corrupt system. Perhaps after the well deserved collapse, we can have an honest economy on the other side.
The economy has become so warped that everything is now "too big to fail." The government and the Federal Reserve will nationalize the entire economy before they let the stock market crash. There are no consequences, there is no reason whatsoever for anyone to be fiscally responsible and prudent. If it doesn't work out, everyone is getting bailed out anyway. So what's the incentive for managing your finances well? There are none. The fiscally prudent and responsible are suckers, fools, dupes.
To have a healthy economy, institutions, businesses, and individuals need to be allowed to fail. But that is intolerable. There will be no recessions as we know them- the Federal Reserve will print a quadrillion dollars before they allow that.
Since there's no reason to be financially prudent and responsible, we might as well all leverage ourselves to the hilt in an attempt to maximize our gains before the unavoidable crackup boom. Go deep into debt, buy loads of cryptos, tech stocks, buy multiple big city downtown condos. The market is just a casino anyway.
There's no reforming this irredeemably corrupt system. Perhaps after the well deserved collapse, we can have an honest economy on the other side.
That's a pretty good summary.
Problem is people who know this don't need to be told. And the people who need to be told won't believe you anyway.
I have negligible to no debt. However, I'm beginning to wonder what the point is- it's not like people like me are rewarded in the current system. In fact, we're punished.
All the debt is going to be wiped out by hyperinflation anyway- might as well take advantage of the endless tap of cheap credit while we can.
I don't really see the point of running up debt just because you can.
I want to get off the money sytem entirely, using the money I have to fund the transition.
The economy has become so warped that everything is now "too big to fail." The government and the Federal Reserve will nationalize the entire economy before they let the stock market crash. There are no consequences, there is no reason whatsoever for anyone to be fiscally responsible and prudent. If it doesn't work out, everyone is getting bailed out anyway. So what's the incentive for managing your finances well? There are none. The fiscally prudent and responsible are suckers, fools, dupes.
To have a healthy economy, institutions, businesses, and individuals need to be allowed to fail. But that is intolerable. There will be no recessions as we know them- the Federal Reserve will print a quadrillion dollars before they allow that.
Since there's no reason to be financially prudent and responsible, we might as well all leverage ourselves to the hilt in an attempt to maximize our gains before the unavoidable crackup boom. Go deep into debt, buy loads of cryptos, tech stocks, buy multiple big city downtown condos. The market is just a casino anyway.
There's no reforming this irredeemably corrupt system. Perhaps after the well deserved collapse, we can have an honest economy on the other side.
Your post irredeemably conflates individual responsibility with corporate responsibility. Please try again!
I have negligible to no debt. However, I'm beginning to wonder what the point is- it's not like people like me are rewarded in the current system. In fact, we're punished.
All the debt is going to be wiped out by hyperinflation anyway- might as well take advantage of the endless tap of cheap credit while we can.
If we do have hyperinflation all those with cash on the sidelines will be wiped out. Those with asset debt will be rewarded with rising asset values. And then to top it off make ownership of precious metals illegal. Complete control.
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