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Of course. I'm not saying it's a bad thing 
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In da butt.
"Do not worry if others do not understand you. Instead worry if you do not understand others." - Confucius
THE UNDEFEATED SUPERCITIZEN w:4 t:2 l:1 (DON'T ASK!)
"God is dead" - Nietzsche. "Nietzsche is dead" - God. -
I'm saying it's a good thing. OPM is like manna from heaven.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I fail to understand this rather fundamentalist view "debt=teh evil". If you're prudent and manage you assets vs liabilities well, I don't see any problems. It's not debt per se that ruins people financially, it is their consumption habits.Originally posted by Serb:Please, remind me, how exactly and when exactly, Russia bullied its neighbors?
Originally posted by Ted Striker:Go Serb !
Originally posted by Pekka:If it was possible to capture the essentials of Sepultura in a dildo, I'd attach it to a bicycle and ride it up your azzes.Comment
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There's debt and then there's debt.
A mortgage is one thing. Credit card debt is entirely another.
I'm happy to have only mortgage debt. Very happy. I hate debt.
-Arriangrog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.Comment
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Credit card debt is super good.
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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This is mind-bogglingly false.Originally posted by DAVOUT
In the concept of debt, the only interesting player is the lender; the more painful is the debt for the stupid debtor, the more it is enriching for the lender. You can even become a Nobel prize if you dare to extend the lending system to the poorest of the poors.THEY!!111 OMG WTF LOL LET DA NOMADS AND TEH S3D3NTARY PEOPLA BOTH MAEK BITER AXP3REINCES
AND TEH GRAAT SINS OF THERE [DOCTRINAL] INOVATIONS BQU3ATH3D SMAL
AND!!1!11!!! LOL JUST IN CAES A DISPUTANT CALS U 2 DISPUT3 ABOUT THEYRE CLAMES
DO NOT THAN DISPUT3 ON THEM 3XCAPT BY WAY OF AN 3XTARNAL DISPUTA!!!!11!! WTFComment
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Ugh. Credit Card debt
(caveat: if you happen to have a super-low interest rate on your credit card, it's different. But most CC's have insanely high rates).
-Arriangrog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.Comment
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Wow.. that's a starting line for a great movie, Arrian!
"There's debt and then there's debt." My credit was so bad it made Africa look like gold bars sticking out from a high class prostitute.
Needless to say, I wasn't going to pay it back. I decided, that I would live life to the maximum. I made a list of items needed for my new journey:
Semi-automatic tactical remington shotgun.
Ammunition. Lots of ammunition.
Desert Eagle, .50.
Porn magazines. Extra dirty.
Lots of whiskey and beer.
Amphetamine and cocaine.In da butt.
"Do not worry if others do not understand you. Instead worry if you do not understand others." - Confucius
THE UNDEFEATED SUPERCITIZEN w:4 t:2 l:1 (DON'T ASK!)
"God is dead" - Nietzsche. "Nietzsche is dead" - God.Comment
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It's the combo of consumption vs income, and whether the debt is a valuable investment (eg; house, education) or just self-indulgent decadence (toys & lavish treats).Originally posted by Saras
I fail to understand this rather fundamentalist view "debt=teh evil". If you're prudent and manage you assets vs liabilities well, I don't see any problems. It's not debt per se that ruins people financially, it is their consumption habits.Comment
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Predictable, just like I said. If you live in debt but you know, with reasonable probability, that in X time your income will become high enough to solve the problem, then it's cool. But many people live in debt all the time, without any prospect of sudden changes in income.Originally posted by Jon Miller
I will get a PhD in the next 2 years. Then, yes, I should have a job that will be paying 2+ times what I currently make.
In fact, if I just went into the normal workforce (Right now), I would expect to get payed over twice what I am payed now.
Jon Miller"Beware of he who would deny you access to information, for in his heart he dreams himself your master" - Commissioner Pravin Lal.Comment
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Let's put it this way. If you spent money on something frivolous, then it would be no better a purchase for having been paid from a flush bank account than if it had been paid by debt.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I see no problem with debt if managed correctly. Lets say I get a raise that nets me an extra 600 a month. Being a consumer I decide I want a new car. I could save and buy that new car in probably 3 years ( assume an over 20K car) or I can buy it now and get a ridiculously low interest car loan.
Is it a good investment -- hell no-- but you could criticize it as consumption with marginal value over other possibilities whether or not debt is incurred. The interest rates you can get are very small-- heck the highest interest rate I pay on ANYTHING right now is less than 5 %.You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto LuongoComment
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If you're not going to repay that debt very quickly - which heavy debtors probably won't, then there'll be interest to pay - so its more expensive and hence worse.Originally posted by DanS
Let's put it this way. If you spent money on something frivolous, then it would be no better a purchase for having been paid from a flush bank account than if it had been paid by debt.Comment
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Oh and note that I drive an 8 year old Civic so I am not exactly a big car-whore. But in 4-5 years or whenever the reliability is not sufficient, I'll probably get a car, likely new or newer.
I NEVER have a lot of cash on hand so for me to pay cash I would have to cash out some stocks. I would much rather take a car loan and pay the thing off over a couple of yearsYou don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto LuongoComment
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Match the debt to the life of the asset. If you buy a car that will last you 10 years (many modern cars do), then it would be just fine to finance the car on a 10 year loan. I don't think 10 year loans are available for cars, so the 7 year loan would do in a pinch.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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