Posted on 07/20/2013 12:47:16 PM PDT by dynachrome
For several years, the economy limped along because of me. I scrimped on everything, did it myself if I could do it myself, and hoarded money out of fear that the recent recession had another dip or two left in it.
Things are different now. I’ve turned my savings into spending, rung up thousands of dollars’ worth of purchases on my credit cards and in the process paid a lot more in taxes. And I’ll probably keep spending like this until I nearly run out of money.
In other words, I’ve bought a house.
All told, I could easily end up spending $30,000 this year that would have stayed in the bank if I hadn’t bought a home. (That’s in addition to the down payment on the house itself.)
(Excerpt) Read more at finance.yahoo.com ...
A former boss of mine had a tenant wreck his rental home. Tenant took all the fixtures, used an axe on the walls and doors. The boss spent a small fortune fixing it, employing many others. Yes, that stimulates the economy!
A former boss of mine had a tenant wreck his rental home. Tenant took all the fixtures, used an axe on the walls and doors. The boss spent a small fortune fixing it, employing many others. Yes, that stimulates the economy!
Just in case you really believe that:
A friend of mine had a rental that suffered a similar fate. All the sinks and toilets were taken or destroyed, the light fixtures were taken, and the walls were axed to get to the copper in the wiring. The furnace and AC were taken with much damage to walls, floors and ceiling to accomplish this. What really made him mad was that the stove was destroyed for the wiring. Probably $2.50 worth of copper that cost him $850.00 to replace. Insurance didn’t touch the damage and the former tenants are long gone. The police laughed at him when he asked if they could help him locate the miscreants.
I understand and appreciate the Walter E. Williams reference.
I’m going to use that phrase in the future if you don’t mind.
Be my guest.
I hate Kenyan Keynesians.
You still have a savings account?
I started buying gold and silver 8 years ago; it’s worth one hell of a lot more now than any other investment I have.
Attempting to find congruence between the recent losses in gold valuation against the relative value of the dollar is absurd.
“still have a savings account?”
Consisting of Au, Ag,Pb
I applaud you for purchasing those commodities at a low price. I've never said not to hold gold and silver. In fact, I believe everyone should put 10% of their assets into precious metals as a hedge against the current deflationary economy. If the economy turns inflationary then those holding will do quite well. Not so much over the long term in a deflationary environment.
Keep riding the price down if you want to. They are your assets to manage.
Exactly why I would never, ever have a rental.
We need to find a way to legal start a database like Angie's list of Deadbeat Tenants & Landlords.
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