Re: Debt is good!!!!
[Re: Pafoxman]
#8167086
07/06/24 01:53 PM
07/06/24 01:53 PM
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Joined: Aug 2011
Posts: 46,404 james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 46,404
james bay frontierOnt.
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There are a bunch of immigrants that will agree with you. They are all borrowing exorbitant amounts of money on credit to start fake buisnesses and are shipping the money back home as their retirement fund.They intend to go bankrupt and skip out and are bragging about it and laughing at all the suckers that will eventually have to pay for them,lol. People gaming that stupid system is what is leading to the country going bankrupt. Bunch of leetches living off the working man.
Last edited by Boco; 07/06/24 01:56 PM.
Forget that fear of gravity-get a little savagery in your life.
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Re: Debt is good!!!!
[Re: Pafoxman]
#8167087
07/06/24 01:59 PM
07/06/24 01:59 PM
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Joined: May 2024
Posts: 1,425 Huntingdon, PA
NorthernTrapperO
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trapper
Joined: May 2024
Posts: 1,425
Huntingdon, PA
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Debt is not good. It is not good to owe people or a company money!
"Tell me and I forget, Teach me and I remember, involve me and I learn" -Ben Franklin
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Re: Debt is good!!!!
[Re: Pafoxman]
#8167095
07/06/24 02:11 PM
07/06/24 02:11 PM
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Joined: Dec 2010
Posts: 11,376 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,376
Armpit, ak
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I think Dave Ramsey would recommend not having a lot of personal debt, especially credit card debt. Business debt is a whole other ball of wax. However, in the ( we will lend you money for less than inflation ) world, debt is free money.
Who is John Galt?
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Re: Debt is good!!!!
[Re: Dirt]
#8167107
07/06/24 02:29 PM
07/06/24 02:29 PM
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Joined: Aug 2011
Posts: 46,404 james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 46,404
james bay frontierOnt.
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I think Dave Ramsey would recommend not having a lot of personal debt, especially credit card debt. Business debt is a whole other ball of wax. However, in the ( we will lend you money for less than inflation ) world, debt is free money. You must be a firecracker buisness man running your trapping operation on debt since you claim to lose money trapping every year,lol.
Forget that fear of gravity-get a little savagery in your life.
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Re: Debt is good!!!!
[Re: midlander]
#8167114
07/06/24 02:34 PM
07/06/24 02:34 PM
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Joined: Aug 2011
Posts: 46,404 james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 46,404
james bay frontierOnt.
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Broke people pay interest Wealthy people earn interest A fool and his money are soon parted.... ![crazy crazy](/forum/images/graemlins/default/crazy.gif) Yep its the system that keeps the few at the top like Soros,Gates and the other leetches sucking the lifeblood from the middle class and keeping them down while they think they are doing good living on hired purchase(other peoples money) It is killing western civilization.No one living on hired purchase including the government will ever pay it back.Maybe the odd sucker will.
Last edited by Boco; 07/06/24 02:38 PM.
Forget that fear of gravity-get a little savagery in your life.
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Re: Debt is good!!!!
[Re: Pafoxman]
#8167115
07/06/24 02:36 PM
07/06/24 02:36 PM
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Joined: May 2016
Posts: 4,049 Southern Illinois
Foxpaw
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trapper
Joined: May 2016
Posts: 4,049
Southern Illinois
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In the 70's in rampant inflation, one could borrow money at 7% and put money down on almost anything and triple his money in just a small time by the inflation adding bloated value to almost anything you would have bought. When you do that if you don't get off of the train at the right time it could be a wreck. For some they was heeding to the call of the "Russians are coming". Then reality hit them in the face and the "Russians weren't coming". When one over extends himself he is just gambling on what direction the next administration is going to take things. If they decide the people with money is losing too much then they have to get inflation under control. The Feds are not the people, the Feds do what's best for them not for what some administration has promised you the way it was going to be. I knew a couple that went to jail on bank fraud, a couple that killed themselves and countless others that just worried themselves into the grave, while others cleaned house and filed bankruptcy never to be seen again. For the last couple of years I have had 100's of emails from brokerage type people telling me the money was coming to and end and the only way to beat it is to get rid of it in some of their strategies. Many of us are just fish in the sea and they catch the easy ones and move on to bigger and better fishing holes. When you are young you have dreams. Follow them the best you can and shoot for the stars and maybe you can at least make it to the moon. But remember she can be a harsh mistress !
The Moon Is a Harsh Mistress Song by Charlie Haden and Pat Metheny
Lyrics Videos Other recordings
See her how she flies Golden sails across the sky Close enough to touch But careful if you try Though she looks as warm as gold The moon's a harsh mistress The moon can be so cold Once the sun did shine Lord, it felt so fine The moon a phantom rose Through the mountains and the pines And then the darkness fell And the moon's a harsh mistress It's so hard to love her well I fell out of her eyes I fell out of her heart I fell down on my face Yes, I did, and I, I tripped and I missed my star God, I fell and I fell alone, I fell alone And the moon's a harsh mistress And the sky is made of stone The moon's a harsh mistress She's hard to call your own
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Re: Debt is good!!!!
[Re: Boco]
#8167117
07/06/24 02:41 PM
07/06/24 02:41 PM
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Joined: Dec 2019
Posts: 2,105 Iowa
CTRAPS
trapper
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trapper
Joined: Dec 2019
Posts: 2,105
Iowa
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Broke people pay interest Wealthy people earn interest A fool and his money are soon parted.... ![crazy crazy](/forum/images/graemlins/default/crazy.gif) Yep its the system that keeps the few at the top like Soros,Gates and the other leetches sucking the lifeblood from the middle class and keeping them down while they think they are doing good living on hired purchase(other peoples money) It is killing western civilization.No one living on hired purchase including the government will ever pay it back.Maybe the odd sucker will. Yep, debt is good says the person with a $100K or more in student loan debt. As some are holding their breath waiting on the government to forgive their obligations.
Last edited by CTRAPS; 07/06/24 02:42 PM. Reason: Spelling
Life Member: ITA, IBA & NRA. Member of SA, MTA, FTA & NTA
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Re: Debt is good!!!!
[Re: Pafoxman]
#8167123
07/06/24 02:47 PM
07/06/24 02:47 PM
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Joined: Mar 2020
Posts: 7,930 W NY
Turtledale
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trapper
Joined: Mar 2020
Posts: 7,930
W NY
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Paid for everything thing in cash my whole life. Being truly wealthy was something I never strove for. Being truly happy and content is my goal. Some people are driven by money, others not so much. Whatever makes you happy is my philosophy. Having debt has driven many people to an early grave, worry,worry,worry. I see your point in working the system to your own personal advantage but it's not for everyone
NYSTA, NTA, FTA, life member Erie county trappers assn.,life member Catt.county trappers
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Re: Debt is good!!!!
[Re: BvrRetriever]
#8167128
07/06/24 02:52 PM
07/06/24 02:52 PM
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Joined: Aug 2011
Posts: 46,404 james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 46,404
james bay frontierOnt.
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The key to good debt is if you can earn more with the borrowed money than you have to pay to finance it. That’s when you are actually making money.
I’d say those on here who are proud of being debt free are speaking from a more personal living standpoint. They are proud to be able to afford their personal lifestyle without having to borrow to do it. If you are in debt so you can have the latest phone, new cars, boats, motorcycles, or other toys that depreciate…you’re headed down the wrong road.
That said, if you want to loan me money at 5% and I have a way to earn 10% on that money…I’ll take that deal all day long. Thats the thinking that keeps the govermnts pushing all the wars-great for the bloated money machine economy-not so good for the working man. And leaves a big balloon to burst. Its coming,but like all ponzie schemes keep it going and to (This word is unacceptable on Trapperman) with the future generations.
Last edited by Boco; 07/06/24 02:55 PM.
Forget that fear of gravity-get a little savagery in your life.
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Re: Debt is good!!!!
[Re: Pafoxman]
#8167140
07/06/24 03:16 PM
07/06/24 03:16 PM
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Joined: Nov 2012
Posts: 1,282 midland, michigan
midlander
trapper
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trapper
Joined: Nov 2012
Posts: 1,282
midland, michigan
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Blaine co, I'm certainly not bragging. Probably a lot of folks on here that are way better off than I am. Just offering a counter perspective to the "all debt is bad" mantra. I'd rather pay interest to a bank than pay income tax. Either way you're out the money. But debt service allows wealth increases. Taxes is money gone forever. Certainly a difference in philosophies out there. Id rather pay income tax, and a lot of it..sounds crazy, but you see, that means I made a lot of money. Others want to pay interest to the bank...that means the banker made a lot of money. As for a previous statement that debt is the biggest income building tool, ill also argue that your income is actually your biggest income building tool. With no debt, cash piles up fast....without ANY risk. I still remember a thread similar to this pre-covid era, many on here talking bout the great wonders and powers of debt.... after all, they were making more interest in the stock market than they were paying in mortgage interest...life was great. Then covid hit, jobs were cut, tenants were told they didnt need to pay landlords (you know, the ones with mortgages on rental properties). Many houses of cards came down due to the risk that that turned into reality. When you have debt, you have risk...period. If you dont mind risk, have at it, but dont assume that other folks that made their fortunes, or are still working on their fortunes without risk, have done it wrong. I wish you luck, if for no other reason than I'm sick of my dollars bailing out financially irresponsible people.
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Re: Debt is good!!!!
[Re: Pafoxman]
#8167165
07/06/24 04:01 PM
07/06/24 04:01 PM
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Joined: Dec 2010
Posts: 35,721 Central, SD
Law Dog
trapper
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trapper
Joined: Dec 2010
Posts: 35,721
Central, SD
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It funny if you don’t owe someone it has a negative impact on your credit score that’s just crazy to me fantastic plastic had ruined many a life. Credit is right up there with the other addictions like alcohol, drugs and gambling if you let it control you.
Last edited by Law Dog; 07/06/24 05:28 PM.
Was born in a Big City Will die in the Country OK with that!
Jerry Herbst
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