creditcave.com — Americans are drawing down on their personal savings at the fastest rate since the Great Depression, Japan's debt is so large that it pushes the world's financial systems to the limit and consumers in the UK are racking up more debt than ever before ...
Feb 12, 2007 View in Crawl 4
Closed AccountFeb 12, 2007
1.Paid off college with GI Bill and savings.2.Bought my two cars (paid off one) with a 0% 60 month loan.3.Bought a house and rehabbed it. Now I rent it to pay for it's small mortgage and half of my current house monthly mortgage.4.Use saving from current mortgage to put toward the equity on my house (30 year loan will be paid in full in 10 years)5. Half of my house is taken off my taxes because I use it for my business (office and work shop).6. No Credit Card dept.7. Last year split $850,000 lotto winning with friend. After taxes $273,000. Now it's working for me in the market.8. Bought plane and pay off maintenance, tie-down, and insurance by renting it out when I don't use it and still make a profit.And all of this from a guy who grew up poor and had to join the Marines to go through college. Even without the lotto winnings I would still be well into the black while still growing a fledgling business that is barely breaking even.
Closed AccountFeb 12, 2007
Of course this list almost exactly matches the countries with the largest GDP as well. Maybe having some debt isnt such a bad thing afterall.
jizzatchFeb 12, 2007
If we are in so much debt, then to whom is this debt owed? Think about it. If we supposedly owe this much in debt, then where are the creditors? Why are they not up in arms over this?Here's reality. The Federal Reserve is a PRIVATE CORPORATION. The biggest creditors are the Rockefellers and Rothschilds. They are the source of evil in this world. Their money finances the Bin Laden's of this world. They created a system of fractional, reserve lending. Back in the olden days, one of the Rothschilds, Amschel Mayer somebody or other realized that for every $10 people kept in his bank, only 10% ish of it was withdrawn at any given time. This was a few hundred years ago and now the Rothschilds and other elite bankster families have become masters of this craft. This means that they can lend out $10 for every dollar they hold and earn interest . This creates a pyramid scheme, which basically amounts to the entire world's economic structure as being a house of cards. The Federal Reserve prints the money out of thin air for pennies on the dollar, and it has now reached a staggering amount that can never be repaid.So, it is basically bulls**t. These fascist banksters should be sent to Gitmo. JFK was the last president that tried to dismantle the Federal Reserve.Anyone that still gives a s**t about this country should vote for Dr. Ron Paul in 2008.
Closed AccountFeb 12, 2007
But good jobs can offer benefits like heath insurance and disability to compensate for these expenses. When I worked for a company that offered health insurance at a reasonably low cost to us only 30% of our employees took the insurance. I guess they all fell nothing would happen to them and they wanted the little extra cash to spend on s**t. I was without health and disability when I started my construction company for a year and I was scared s**t-less. Yes I spend a lot on insurance for me and my employees now but no one can convince me that health insurance is too expensive to buy. Would I like to see it cheaper? Of course, but we are all in the same boat and I can't do anything about it so I don't worry about it. I can only focus on the costs that I can control like labor and materials.
dojonzFeb 13, 2007
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ohearnFeb 13, 2007
@ omgbanana: By a few years I mean I finished my graduate work just over 2 years ago. I worked a fulltime and a part time job all the way through both undergrad and graduate school to finish with no debts, but it can be done. Of course it did mean working 60-70 hours a week plus 16-20 hour engineering loads. Yes I had no life, but I went to college for an education not to party. My point was that if you want it badly enough it can be done, it just isn't easy.
drake546Feb 15, 2007
As long as you hoard it into banking institutions it is reinvested into the economy via the banks investments. Sticking it in your mattress on the other hand . . .
corvidaeFeb 15, 2007
@fooberYou might want to notice, the data your looking at ends in 2003. If you glance at your calendar, you'll notice this is now 2007. www.bls.govwww.goa.govwww.omb.govwww.federalreserve.govThere's a few to get you started. Let us know when ya catch up.
dreesAug 27, 2007
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