angel investors

HomeBuiltAirplanes.com

Help Support HomeBuiltAirplanes.com:

rbrochey

Well-Known Member
Joined
Oct 17, 2010
Messages
1,503
Location
Gallup, New Mexico USA
That's paranoia. We live in a awesome country with a ton of opportunity for people who are open minded, disciplined, and can lead. Making money is very hard, yes, it's supposed to be.

I was reading the other day how many people we have lifted out of poverty since 2000 and it's mind blowing. Poor in 2018 is not the same thing as poor in 1930.

So I disagree, I rely on numbers. Numbers point out there's no greater time to be alive than June 14 2018. But again, we live in a society where it's up to the individual.
You might want to branch out your reading a little... homelessness is skyrocketing... except for maybe the dairyland, the middle class is dissolving... we live in the third worst health care system on the planet, the highest drug costs and the worst senior care.
Maybe skip FOX news once in awhile. IMHO of course
 

Little Scrapper

Well-Known Member
HBA Supporter
Log Member
Joined
Jan 3, 2014
Messages
5,674
Location
Wisconsin
The FOX comment. This is where I end this conversation. I'm not putting up with that garbage.
 

rbrochey

Well-Known Member
Joined
Oct 17, 2010
Messages
1,503
Location
Gallup, New Mexico USA
"That's paranoia." "When I read a response like this I'm speechless."


All I have to say in response is if you can't take it don't dish it out. It's okay to have a disagreement, it help create a consensus... you need to lighten up a little.
 

Pops

Well-Known Member
Log Member
Joined
Jan 1, 2013
Messages
8,020
Location
USA.
Exactly..

Many people just can't see past their own point of view. My business is 100% debt free. Brand New trucks, cash. Everything is debt free. All my inventory, debt free. Equipment. Debt free.

But I love borrowing. It makes sense from a business perspective, more than just internet chatter but actual numbers. As an example......

My business is separate from my investments. The last thing I want to do is pull money out of investmemts, that would be just stupid. So on a flip like the last one I found a guy to front $190k to buy a 1890's farmhouse. 3 month flip. He owns the house I set the deal. He makes 7% in 3 months and worse case scenario he owns a home for a great deal if things go south. It's all about risk assessment. Obviously I did the plumbing but I also keep what's left after the costs, including interest paid. It sold for over $320k. Sold it in under 3 days like we always do. Still, extremely difficult to make money but we do. It's very hard.

Borrowing is smart. I run a business, why would I possibly want to deal with that crap. It's easier to orchestrate it and move on to the next one. Investments are time stamped, borrowing makes the "time" part happen. It's just smart.

And the investor who made 7% in 90 days? Where else is he gonna do this with so little risk. He's just as important as an electrician, everyone has a role.

I realize some people claim to be a jack of all trades but this is real tradesman doing real work license and insurance and a real inspection where codes matter. Imagine if I threw out my refrigerator because it's cheaper to dig a hole in the ground and store food in a root cellar. It's not practical.

Borrowing is not only important in business we'd literally be a third world country without it.

Borrow smart. Buy value. Have a strategy. Use your noodle.
Wouldn't it have been better if you could have fronted the total mount and reaped the total profits ? So you paid 7% on a 90 day loan by not fronting the total amount. I just have a problem with giving money away in interest when I don't have to.
 

Little Scrapper

Well-Known Member
HBA Supporter
Log Member
Joined
Jan 3, 2014
Messages
5,674
Location
Wisconsin
Wouldn't it have been better if you could have fronted the total mount and reaped the total profits ? So you paid 7% on a 90 day loan by not fronting the total amount. I just have a problem with giving money away in interest when I don't have to.
No. Like I said, a lenders job is just as important as the electrician, roofer, drywaller etc. I have money in investments like retirement, stocks, index funds etc. Pulling money out of those would be foolish. I own a Plumbing business, that's my focus. The private lender does a lot more than just hand over money, he owns the deed. Why would I sell my stocks that pay dividends for a 3 month strategy when the dividend strategy is long term? I make money Plumbing and on the sale assuming I did my job well. Some are better than others. My goal isn't to hang out for three months on a house it's to run my primary business. The way I do it is extremely efficient and quite normal.

There's tax issues here as well. All in all that 7% represents much more value that it may seem at first. It's cheap, I'd go as high as 10% but haven't had to because people line up in droves to do this.

I guess I can't expect everyone to understand it. Nothing about this is easy, it's not easy money. It requires a high level of planning and discipline and even then breaking even is closer than one would think. Home prices are at epic levels again. Margins can be thin if you can't pick it up for a good value.
 

cheapracer

Well-Known Member
Log Member
Joined
Sep 8, 2013
Messages
6,051
Location
Australian
. you need to lighten up a little.

It's 2018, not 1930, the cost of, well everything, is beyond reach of most people before we even mention the rules and regulations that are now imposed.

You say your grandfather built whatever, well today for example, plumbing, electrician, carpenter, engineering, etc etc are all legal separate trades and if you don't use licensed people today, your building will be torn back down by the Government (that's a fact in Australia anyway).

In 1930 maybe you could do the lot yourself*, and many did out of nessessity, but not today.

* .. and many buildings fell over in storms etc.


Wouldn't it have been better if you could have fronted the total mount and reaped the total profits ? So you paid 7% on a 90 day loan by not fronting the total amount. I just have a problem with giving money away in interest when I don't have to.
Who here has $190,000 sitting around?

Scrapper has made money from nothing, I can't see the issue, everybody was a winner in that project.

Even if you were a person of reasonable income, getting to a point where you had $190,000 to make your own investment would be of a time frame equal to, or greater than the short term loan costs.



I think there might be some confusion here about loaning money for that flash car or aircraft that's not actually needed and beyond income means, and using credit for real world solid business decisions.
 

pictsidhe

Well-Known Member
Joined
Jul 15, 2014
Messages
7,421
Location
North Carolina
I'm an immigrant, I can't borrow a bean as I have no credit history. Anyone read "catch 22"?
I have one house rented out. I bought it for $15k, spent time and $10k. Rented it for 15mo at $570/mo, then had to spend another $5k. It's been rented out over a year again now and my current tenant isn't a pig...
My factory job only pays ~$1k a month, so it'll likely be next year before I can buy a 3rd. It's tricky getting better work too, everyone seems to know immigrants make terrible employees. I'm living in my 2nd house (8k, work in progress). 6 houses would probably be enough for a fairly leisurely life. it is hard getting started, though.
Permit system drives me crazy. I was in my current house for 4 months with no electricity before I had the money for electrical work I could have done myself. After the first electrician visit, I had him back out after spotting lots of code violations his lackey made...

Many people can't cope with short term hardship in order to make their subsequent life easier. I do not want to live long term from a manual labour poorly paid job so I rough it and save my cents while someone with a similar monthly income rents my nice house and spends her remaining income on bling. The return on rentals is great, I'm still at the bottom of the ladder, though.
 

Little Scrapper

Well-Known Member
HBA Supporter
Log Member
Joined
Jan 3, 2014
Messages
5,674
Location
Wisconsin
I'm an immigrant, I can't borrow a bean as I have no credit history. Anyone read "catch 22"?
I have one house rented out. I bought it for $15k, spent time and $10k. Rented it for 15mo at $570/mo, then had to spend another $5k. It's been rented out over a year again now and my current tenant isn't a pig...
My factory job only pays ~$1k a month, so it'll likely be next year before I can buy a 3rd. It's tricky getting better work too, everyone seems to know immigrants make terrible employees. I'm living in my 2nd house (8k, work in progress). 6 houses would probably be enough for a fairly leisurely life. it is hard getting started, though.
Permit system drives me crazy. I was in my current house for 4 months with no electricity before I had the money for electrical work I could have done myself. After the first electrician visit, I had him back out after spotting lots of code violations his lackey made...

Many people can't cope with short term hardship in order to make their subsequent life easier. I do not want to live long term from a manual labour poorly paid job so I rough it and save my cents while someone with a similar monthly income rents my nice house and spends her remaining income on bling. The return on rentals is great, I'm still at the bottom of the ladder, though.
Yes! It's hard! It's supposed to be hard, it needs to be hard. Embrace that part of it. Everything I explained is ridiculously hard for me, there's nothing easy about it.

Many people who judge America on standard of living etc are looking at it from the perspective of how much free crap they can get by just being alive. Those people suffer hard too, haha.

You see, both sides suffer. It's hard for both the freeloaders and the motivated thinkers. The important part is this. You are gonna suffer, you don't have an option,, but you do get to pick your burden. You get to choose your suffering here in America.

Sounds to me like you're on the right track. Discipline, routine, consistency, get rewarded in America far more than any other country.
 

rbrochey

Well-Known Member
Joined
Oct 17, 2010
Messages
1,503
Location
Gallup, New Mexico USA
I'm an immigrant, I can't borrow a bean as I have no credit history. Anyone read "catch 22"?
I have one house rented out. I bought it for $15k, spent time and $10k. Rented it for 15mo at $570/mo, then had to spend another $5k. It's been rented out over a year again now and my current tenant isn't a pig...
My factory job only pays ~$1k a month, so it'll likely be next year before I can buy a 3rd. It's tricky getting better work too, everyone seems to know immigrants make terrible employees. I'm living in my 2nd house (8k, work in progress). 6 houses would probably be enough for a fairly leisurely life. it is hard getting started, though.
Permit system drives me crazy. I was in my current house for 4 months with no electricity before I had the money for electrical work I could have done myself. After the first electrician visit, I had him back out after spotting lots of code violations his lackey made...

Many people can't cope with short term hardship in order to make their subsequent life easier. I do not want to live long term from a manual labour poorly paid job so I rough it and save my cents while someone with a similar monthly income rents my nice house and spends her remaining income on bling. The return on rentals is great, I'm still at the bottom of the ladder, though.
It has always been thus. I remember taking about he "money lenders" in Sunday School in the 1950s'. My family immigrated to North America BEFORE it was the United States, my fist relative arriving in 1765. All fought in the war for independence . But they were never wealthy and had to do everything for themselves.. the saying in my house growing up was "those who gots gets" and "The rich get richer and the poor get poorer" . They had to claw their way out without banks or investors, but in a sense, like Pops says it can be the best way, to not be beholden to anyone and to avoid interest. That said I have always thought groups should get together and help each other out without trying to make money on helping (not the American way generally) one another out. For example, someone in here wants to start a little aviation business, we, as a group of ragtag aviators all chip in to help the start up... not with the intention of making a profit. I have always felt we can do a better job helping each other. My 15 year old daughter goes to a Navajo mission school financed by the Catholic church... a private school with no tuition. She asked my one day why people were so focused on money and that she was told by one of her teacher that money is bad... I told money is not bad, greed and lust for money is bad. But money itself is simply a form of energy that you can use in good ways, like the people who donate to good causes. In my long life I have been around both types of people. To pictsidhe I would say you are experiencing what many do in our country, it's easy to borrow money here if you don't need it... you get in a rut and poor credit, you pay more interest and it turns into a vicious cycle you cannot almost never reverse. For most of the US YOU are your credit score, so the best way to survive is to stay as far away from credit as possible. Pops remembers the 50's in Pittsburgh, where in 1955 my mom and dad bought a off the showroom floor a Ford Fairlane (pink and white) and a Chevy 3100 pickup. They paid cash. Times have changed, but not where I live thankfully. So lets do something good in here, lets all chip in a hundred or so to help someone build a plane who can't afford the materials. You won't get it back, but you will get the satisfaction of helping an aviation dream materialize. This is how we should be doing things.
 

12notes

Well-Known Member
Lifetime Supporter
Log Member
Joined
Aug 27, 2014
Messages
1,042
Location
Louisville, KY
You might want to branch out your reading a little... homelessness is skyrocketing... except for maybe the dairyland, the middle class is dissolving... we live in the third worst health care system on the planet, the highest drug costs and the worst senior care.
The middle class shrinking and highest drug costs are correct, but you might want to check your sources on the rest:

"The total number of people experiencing homelessness increased slightly compared with 2016, but the rate per 10,000 people is at its lowest value on record.", "Between 2007 and 2017, homelessness decreased overall and across every major category of homelessness nationally. Overall homelessness decreased 14.4 percent. The most dramatic decreases in homelessness have been among veterans (34.3 percent), individuals experiencing chronic homelessness (27.4 percent), and people living in unsheltered locations (24.6 percent)." - National Alliance to End Homelessness If these numbers are biased, as a non-profit needing donations, they would be biased to make the homeless problem look as bad as possible.

We're ranked 37th out of 191 countries, there are 154 countries with health care systems worse than ours. www.who.int/healthinfo/paper30.pdf(.pdf download) What you claimed should have been obviously false to everyone. We are behind most of Europe, but none of us would prefer to need medical procedures in most of South America, about half of the countries in Asia, and nearly all of Africa. Senior care claim is similarly wrong.
 

Pops

Well-Known Member
Log Member
Joined
Jan 1, 2013
Messages
8,020
Location
USA.
It has always been thus. I remember taking about he "money lenders" in Sunday School in the 1950s'. My family immigrated to North America BEFORE it was the United States, my fist relative arriving in 1765. All fought in the war for independence . But they were never wealthy and had to do everything for themselves.. the saying in my house growing up was "those who gots gets" and "The rich get richer and the poor get poorer" . They had to claw their way out without banks or investors, but in a sense, like Pops says it can be the best way, to not be beholden to anyone and to avoid interest. That said I have always thought groups should get together and help each other out without trying to make money on helping (not the American way generally) one another out. For example, someone in here wants to start a little aviation business, we, as a group of ragtag aviators all chip in to help the start up... not with the intention of making a profit. I have always felt we can do a better job helping each other. My 15 year old daughter goes to a Navajo mission school financed by the Catholic church... a private school with no tuition. She asked my one day why people were so focused on money and that she was told by one of her teacher that money is bad... I told money is not bad, greed and lust for money is bad. But money itself is simply a form of energy that you can use in good ways, like the people who donate to good causes. In my long life I have been around both types of people. To pictsidhe I would say you are experiencing what many do in our country, it's easy to borrow money here if you don't need it... you get in a rut and poor credit, you pay more interest and it turns into a vicious cycle you cannot almost never reverse. For most of the US YOU are your credit score, so the best way to survive is to stay as far away from credit as possible. Pops remembers the 50's in Pittsburgh, where in 1955 my mom and dad bought a off the showroom floor a Ford Fairlane (pink and white) and a Chevy 3100 pickup. They paid cash. Times have changed, but not where I live thankfully. So lets do something good in here, lets all chip in a hundred or so to help someone build a plane who can't afford the materials. You won't get it back, but you will get the satisfaction of helping an aviation dream materialize. This is how we should be doing things.
Good post--- Yes, we are our own bank. You just start off small with the capital you have and grow. I have been flipping things all of my life. I was expected to leave home on the day I graduated from high school and the next day I packed a bag and thumbed a ride to another state and got a job at 17 years old. Got married young and had 3 children in the first 4 years. I started flipping auto's living in the Pittsburgh area ( big market) .
Took my vacation pay and worked my vacation and used that for start-up money. Buy a car that needed a tune-up, detail and maybe a couple of new tires and get it looking and running good with 3 or 4 evening work and sell at a low cost. The McDonalds idea , sell cheap and sell a lot. I was living in a housing project and had room to park one extra car. Then I got in an apprentice program and had to move to WV to be in a certain area.
Rented a very cheap house and saved every penny and was given 2 acres of land from my Grandfather's 100 acre farm. Saved enough money to pay a contractor to build a basement the was 3/4 out of the ground and I started working on the rest of the house as I had the money. Other than the basement I did 100% of the work. This was out in the country with no inspection , but everything was built better than code. My farther in law and 2 brother in laws were home building contractors in the Pittsburgh area all of their life's and answered all questions. When we got the basement made into a 3 bedroom house, we moved in while I was working on the rest of the house on the main floor. So, we had a new house, 6 bedrooms, 2 baths, two kitchens built to the highest quality (not built cheap for sale) with no mortgage. I told me wife when we had a house with no mortgage I was going to buy an airplane. I did.
I had bought a new VW Bug for cheap transportation while on the road on my job and started to flipping VW's only. Usually had 6-8 at one time and most would be sold before I got then ready to sell. Word got around that I sold good cheap bugs and people would come and buy them while I was working on them. A side branch of that was building VW engine for people. Have no idea how many I have built or had many VW's I have owned. It grew so fast and big I had to either quit my day job or the VW business. I quit the VW business. Then I used my skills to start flipping airplanes. In the 1990's before 9-11 , book prices of Cessnas and Pipers were going up 7% per quarter. I start out small and sold the first one in 6 weeks, then all the profit into buying another and another. ( That's how you get the 190K to invest). You have to decide what part of the market you want to play in, I decided more people could afford an airplane at or below $50k so I decided to stay in that larger market for more prospective customers. So you could buy an airplane that just needed maybe an new interior or paint or radio upgrade but other wise low time, spend 6 months working on it and flying it, and at the same time making 7% on the invested money and sell it. Always doubled my money or very close to doubling and usually had several people waiting to buy it. I have turned buyers down because they were not going to hanger the airplane. Every airplane I sold I would call them about a month latter and tell them that if they didn't like the deal in buying the airplane, bring it back and I will give them their money back. Never told them that until a month latter. Never had a taker. I told my wife 5 years before Oct, 2008 there was going to be a large market crash. Because exactly 5 years before the crash the banks were force to make loans to people in the area the bank served by the Congressional Banking Committee or lose there charter ( one member on the committee would latter become president). Loans up to 120% of the price of the homes with nothing down and no interest for 5 year then with a big bloom payment. I knew at the end of the 5 years the SH** was going to hit the wall with a big down turn. So I sold my last airplane that I flipped to a museum in Berlin, Germany in 2007.
Backing up a little. We lived in the house for over 20 years without any mortgage. Sold the 6 bedroom house that looked 6 months old for many times what we had in it and I bought a part of the runway and land on the runway and built the house and hanger where I live now. No mortgage. Also never had a car payment except for the small loan to buy the new 1969 VW Bug for $1868 and paid it off in a few months.
I had the local bank check on me for a credit rating, no listed. Great. I make a bad slave.
My neighbor has flipped airplanes from 1930 thru WW-2 for many years along with parts to different museums in their restorations. Retired airline pilot , but has made lots of money flipping airplanes.

Enough typing for this month.
 
Last edited:

12notes

Well-Known Member
Lifetime Supporter
Log Member
Joined
Aug 27, 2014
Messages
1,042
Location
Louisville, KY
Without lending, we wouldn't have many doctors. There's not many 18 year olds with $50-100K saved for college, and fewer still 22 year old college graduates with $200K saved up for medical school.

In the 100 largest city areas, where the majority of jobs are, the median house price is well over $100K, if it's much less than $100K, it's probably in a "most likely to get shot" type of neighborhood. It is exceedingly difficult to save $100K+ for a house while paying $700+ per month rent. And, while not the absolute cheapest, that's on the cheap end of rent for a 1 bedroom apartment and house prices for the top 100 cities. Over 2/3 of the population lives in the 100 largest metro areas, so this is the reality for most of the people in the US.

Without lending, there would be a lot of people who wouldn't own a home now, and fewer still that would be eligible to get one.

There's a huge difference in life philosophies here. I understand the "never borrow, never lend" philosophy and respect those that can and have lived that way. That works or has worked for you in your circumstances. But other's circumstances are different, and this is not the only valid way of looking at life.

Another valid way of approaching life is "live your best life while you can". This may seem horrifying to some, particularly (but not necessarily) the "work hard, save everything, reward later" adherents. You do what you can now to make your life now as good as you can. For example, take out loans, live at the limit of your means or even beyond, pay too much to rent the beach house and go into debt to lease that Porsche. Old age will probably be a struggle, retirement might not be an option. It probably would be better to live frugally and save and buy a reasonable house in the suburbs and have a reasonably comfortable old age. But you aren't guaranteed to live to an old age to get the benefits of saving, and your life wouldn't include being a young guy living in a beach house with a Porsche.

Neither philosophy is right or wrong, and it's more of a sliding scale that we all fall between. I don't borrow or lend, but I did make the long term financially stupid decision to learn to fly a few years ago while having nothing saved. Waiting could've made me the guy who always wanted to, but waited too long until some medical or other issue prevented it. I'm sure some here will classify me as an idiot for doing so, but, hey, I'm flying now, and there's not a reasonable amount of money in the bank that I would trade for that.

https://www.kiplinger.com/tool/real-estate/T010-S003-home-prices-in-100-top-u-s-metro-areas/index.php
https://www.apartmentlist.com/rentonomics/national-rent-data/
https://en.wikipedia.org/wiki/List_of_metropolitan_statistical_areas
 

Pops

Well-Known Member
Log Member
Joined
Jan 1, 2013
Messages
8,020
Location
USA.
Without lending, we wouldn't have many doctors. There's not many 18 year olds with $50-100K saved for college, and fewer still 22 year old college graduates with $200K saved up for medical school.

In the 100 largest city areas, where the majority of jobs are, the median house price is well over $100K, if it's much less than $100K, it's probably in a "most likely to get shot" type of neighborhood. It is exceedingly difficult to save $100K+ for a house while paying $700+ per month rent. And, while not the absolute cheapest, that's on the cheap end of rent for a 1 bedroom apartment and house prices for the top 100 cities. Over 2/3 of the population lives in the 100 largest metro areas, so this is the reality for most of the people in the US.

Without lending, there would be a lot of people who wouldn't own a home now, and fewer still that would be eligible to get one.

There's a huge difference in life philosophies here. I understand the "never borrow, never lend" philosophy and respect those that can and have lived that way. That works or has worked for you in your circumstances. But other's circumstances are different, and this is not the only valid way of looking at life.

Another valid way of approaching life is "live your best life while you can". This may seem horrifying to some, particularly (but not necessarily) the "work hard, save everything, reward later" adherents. You do what you can now to make your life now as good as you can. For example, take out loans, live at the limit of your means or even beyond, pay too much to rent the beach house and go into debt to lease that Porsche. Old age will probably be a struggle, retirement might not be an option. It probably would be better to live frugally and save and buy a reasonable house in the suburbs and have a reasonably comfortable old age. But you aren't guaranteed to live to an old age to get the benefits of saving, and your life wouldn't include being a young guy living in a beach house with a Porsche.

Neither philosophy is right or wrong, and it's more of a sliding scale that we all fall between. I don't borrow or lend, but I did make the long term financially stupid decision to learn to fly a few years ago while having nothing saved. Waiting could've made me the guy who always wanted to, but waited too long until some medical or other issue prevented it. I'm sure some here will classify me as an idiot for doing so, but, hey, I'm flying now, and there's not a reasonable amount of money in the bank that I would trade for that.

https://www.kiplinger.com/tool/real-estate/T010-S003-home-prices-in-100-top-u-s-metro-areas/index.php
https://www.apartmentlist.com/rentonomics/national-rent-data/
https://en.wikipedia.org/wiki/List_of_metropolitan_statistical_areas
No doctors. The problem is the whole economy is built on debt. Look at history and see what is the end of this, its not good. Look at Venezuela if you want to see our future. Our debt WILL be paid back with a far lower standard of living in the future. I feel sorry for our children and grandchildren. We are spending their future. Third world country in the making. I refuse to be a part of it.
 

BJC

Well-Known Member
HBA Supporter
Joined
Oct 7, 2013
Messages
11,061
Location
97FL, Florida, USA
Definition of capitalism. : an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.
Capitalism has been great for the world, as well as for sport aviation. When in Cuba a few years ago, I asked a government-educated guide about private ownership of airplanes. She did not know how to answer, because she could not understand the concept of private ownership of an airplane.

In capitalism, if someone wants to rent an assest from someone else, and pay an agreed rental fee, they are free to make a deal. I like that.


BJC
 

Little Scrapper

Well-Known Member
HBA Supporter
Log Member
Joined
Jan 3, 2014
Messages
5,674
Location
Wisconsin
Government debt is not the same as individual debt.

Welfare programs are a debt issue. Those who think America sucks because we don't have easy sledding are basically asking for debt. I find this amusing. We have a serious IQ problem in this country.

Managed debt is fine, maybe not for certain individuals but for many responsible people it's perfectly fine.
 

Little Scrapper

Well-Known Member
HBA Supporter
Log Member
Joined
Jan 3, 2014
Messages
5,674
Location
Wisconsin
America's version of poor isn't even close to other countries version of poor.

Screenshot_20180614-232306~2.jpg

If you want to work there's endless opportunity. If you want to go to college there's endless programs. Food, same thing.

America is so awesome I don't even know where to begin. If you were born here that alone makes you wealthy. There's so much opportunity here it's actually overwhelming, there's so much greatness here it's hard to comprehend.
 

ScaleBirdsScott

Well-Known Member
Joined
Feb 10, 2015
Messages
1,222
Location
Uncasville, CT
If you want to work there's endless opportunity. If you want to go to college there's endless programs. Food, same thing.

America is so awesome I don't even know where to begin. If you were born here that alone makes you wealthy. There's so much opportunity here it's actually overwhelming, there's so much greatness here it's hard to comprehend.
Yet we still have our share of problems and people struggling. The scale just slides, and slides, and that's sortof of the point. I don't have any qualms with saying the US is a great place. I don't think it's the only great place, nor the best in every way. But it's got a lot going for it and smart people from around the world keep filling the visa quotas to live here.

There's truth to the idea that at some point it was realized or engineered to make it so that most people do need to borrow for college or for a car or for whatever; and maybe before then it was quite possible to accomplish things in a timely manner without having to borrow towards it. But the big money has already crossed the Rubicon, we aren't going to get back to the old paradigm through any sort of collective awakening in how to better spend our money and how to cast out the corrupt. If it ever swings back it'll be through some form of regulation or massive re-shuffling of the fundamental figures, via war, tech breakthrough, massive unifying purpose, revolution, market crash, etc.
 

BJC

Well-Known Member
HBA Supporter
Joined
Oct 7, 2013
Messages
11,061
Location
97FL, Florida, USA
… at some point it was realized or engineered to make it so that most people do need to borrow for college or for a car or for whatever; and maybe before then it was quite possible to accomplish things in a timely manner without having to borrow towards it.
We've discussed this before, and not everyone here agrees, but the federal government increased the cost of a college education dramatically by underwriting student loans. i.e., They artificially shifted the supply verses demand relationship. College staffing soared, as did professors' and administrators' salaries. They admitted more and more students because the government told people that a college degree was necessary to be successful (it isn't). Tenured professors are extremely well paid, even if they teach only one class per year.

I had a couple of professors who were pilots.


BJC

Edit: At the same time, the quality and usefulness of a high school education started to decline. That continues today in most government schools.
 
2
Top