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Forum » Debtors, Enslavement, and True Freedom
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Thread: Debtors, Enslavement, and True Freedom

post 1628958763 01-18-2021, 12:30 PM
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Debtors, Enslavement, and True Freedom

Why are you guys worried about Communism when you don't even own anything? It's literally already happening and you are too dumb to realize it.

The house you "bought" with your $250k mortgage isn't your house.
The furniture you "bought" with your brand new Lowe's card isn't your furniture.
The car you "bought" with your $30k auto loan isn't your car.
The food you "bought" with your $5k CC isn't your food.

Debtors are modern day slaves and it is amazing to see how dumb they are thinking they are kings living a lavish lifestyle when they don't own most of the things they have. They are merely slaves living in their "master's" bedrooms continuing to consume and continuing to be whipped by their bank overlords.

One man takes out a $250k mortgage and 10 years later sells it to another man for $500k mortgage is one of the most cucked and disgusting thing I see in society today.
post 1628959063 01-18-2021, 12:33 PM
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You’re an idiot. Cheers.
post 1628959163 01-18-2021, 12:34 PM
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You’re an idiot. Cheers.
"Stop sitting back saying yeah man, I wanna be this, I wanna be that, grab your phucking nuts and be it" -Greg Plitt

Can't edit avi, mod tried to help but he couldn't figure it out either
post 1628959173 01-18-2021, 12:35 PM
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Good quote i hear from owen benjamin: Money is debt, family is wealth
<Made by Koloxoid>
post 1628959343 01-18-2021, 12:37 PM
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I always cringe when people get excited over refinancing their mortgage like yeah, well done dip chit. The bank owns where you call home for another 20 years you thick fuk.
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post 1628959773 01-18-2021, 12:41 PM
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Learned this in college via Dave Ramsey. Debt is dumb.

I still think credit cards are fine if you pay em off monthly, since you avoid interest that way and still get points. I also think a mortgage is fine so long as you're putting enough down to go beyond the need for PMI. Beats being a rentcel at least, and turn out with some kinda equity by the end of your stay at the house.
post 1628960203 01-18-2021, 12:46 PM
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Lmao at people buying their mattress on credit, buying their house on credit, buying their smartphone on credit, buying their car on credit.

Debtors aren't even human and are living a fake life. Truly a clown world we live in.

You don't have the balls to kill yourself so you kill yourself financially digging yourself a debt grave to sleep in.
post 1628960253 01-18-2021, 12:47 PM
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agree, OPie

zero debt crew
Make Europe Germany Again
post 1628961113 01-18-2021, 12:55 PM
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How many billions of dollars and how many dozens of people does Trump owe money to?

When he wins, he collects. When he loses, he tells them to go fukk themselves. What are they gonna do, muscle Trump? Trump is the muscle. It's a great system.
post 1628962223 01-18-2021, 01:05 PM
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Anyone involved in a more sophisticated economy than bartering is as dumb as those literate people I heard about.
post 1628963963 01-18-2021, 01:24 PM
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Originally Posted By notbadnotbrad⏩
You’re an idiot. Cheers.
This.
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post 1628965433 01-18-2021, 01:40 PM
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Originally Posted By Anachron⏩
You're an idiot. Cheers.



Dumb debt is dumb. Not all debt is dumb.

If I could go back and tell my 18 year old self exactly that, I would be a lot further ahead.
What debts would you've taken on that would've accelerated your net worth?
post 1628965883 01-18-2021, 01:44 PM
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Originally Posted By Visel⏩
What debts would you've taken on that would've accelerated your net worth?
Have you ever heard of NPV for capital budgeting projects you dolt

Or even just buying property - if your return on the property is greater than your cost of debt you’ll make money - plus you can earn an income on the fuking house

Most companies don’t have a bunch of cash on hand - go look at the balance sheet of any major corporation - so they need to take out debt and plan that the return on capital is greater than the cost of debt - brb massive corporation and cash is tied up in with overhead and wages but you have a great technology that will grow your business and no cash - brb just don’t do it and never progress the business

Fuk you
post 1628966223 01-18-2021, 01:47 PM
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Originally Posted By notbadnotbrad⏩
Have you ever heard of NPV for capital budgeting projects you dolt

Or even just buying property - if your return on the property is greater than your cost of debt you’ll make money - plus you can earn an income in the fuking house

Most businesses and companies don’t have a bunch of cash on hand - go look at the balance sheet of any major corporation

Fuk you
Da phark happened to tickle you pink? It was a legitimate question. No I hadn't heard of NPV, so I had to Google it when you mentioned it. I asked an honest question and get this kinda response? I'm agreeing with anyone and everyone that real estate debt is good debt. I just wanted to see if Anachron had any other ideas for good debt.
post 1628966283 01-18-2021, 01:47 PM
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Originally Posted By Visel⏩
What debts would you've taken on that would've accelerated your net worth?
When the pandemic hit, I took out a $30k RRSP loan to sink into stonks

That $30k is now worth somewhere around $50k, for a 5-year loan @ <4% interest and sunk into stocks that pay dividends of 5-9%. And the RRSP loan itself will offset like $12k of my 2020 taxes
post 1628966603 01-18-2021, 01:51 PM
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Originally Posted By Visel⏩
Da phark happened to tickle you pink? It was a legitimate question. No I hadn't heard of NPV, so I had to Google it when you mentioned it. I asked an honest question and get this kinda response? I'm agreeing with anyone and everyone that real estate debt is good debt. I just wanted to see if Anachron had any other ideas for good debt.
Dude I am not being serious with the fuk you

Pls take the sand out of your vagina

I didn’t actually read any of your posts I just wanted to chime in with a lengthy reply so I could appear to be smart in front of a bunch of gay Indian bodybuilders online that I don’t know

Cheers
post 1628966933 01-18-2021, 01:54 PM
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Originally Posted By Destor⏩
When the pandemic hit, I took out a $30k RRSP loan to sink into stonks

That $30k is now worth somewhere around $50k, for a 5-year loan @ <4% interest and sunk into stocks that pay dividends of 5-9%. And the RRSP loan itself will offset like $12k of my 2020 taxes
So as long as you get above 4% annually you're getting free benjamins. RRSP can't be touched without you being 59 1/2 though right, unless you get a penalty? Like most retirement accounts? Avoids the capital gains tax that way but leaves you without access for, assuming you're 35, 24 1/2 years.
post 1628967283 01-18-2021, 01:59 PM
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Originally Posted By Visel⏩
What debts would you've taken on that would've accelerated your net worth?
Debt is leverage and leverage is how you get rich.
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post 1628967423 01-18-2021, 02:00 PM
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Originally Posted By Visel⏩
So as long as you get above 4% annually you're getting free benjamins. RRSP can't be touched without you being 59 1/2 though right, unless you get a penalty? Like most retirement accounts? Avoids the capital gains tax that way but leaves you without access for, assuming you're 35, 24 1/2 years.
Yup they're all long term holds, don't mind sitting on the cash since it reduces the tax burden right now and being able to use and make gains on the full pre-tax amount is obvs beneficial
post 1628967603 01-18-2021, 02:02 PM
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I just downgraded my car to get out of my car loan. Buying a new car was my biggest financial mistake. Lesson learned and I'll never do it again unless I have cash.

Bought a 8 grand car that's a 2009 but I only make poverty 50k/year so that's still a big chunk.

My last car was like a 25k car lol. It's crazy though so many people drive 25-30k cars and make the same or barely more than me. I'll never buy a car that expensive again unless I'm making like 120-150k/year.
post 1628967783 01-18-2021, 02:03 PM
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I’m not going to promote the whole “live your best life and die in debt” thing, but I think the mechanics of debt, as they are exercised today, are more nuanced and complex than that OP.
post 1628970753 01-18-2021, 02:37 PM
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Several flaws in your argument.

Yes the car is yours, either buy it with cash or pay it off. Either way it's yours afterwards. Nobody is forcing you to go into debt for a car.

The house you can still lose, yes, but property taxes go towards things you use like roads, hospitals, etc. Also you can sell the house and get more than what you paid.

The furniture has the same mantra as the car. Yes you own it if you buy with cash or once you pay it off.

As for food, don't use a credit card?
post 1628971103 01-18-2021, 02:40 PM
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