Seattle Bubble Forum Archive

Debt is Wealth.

"Sythetik[sic] sounds like someone who can't qualify to get in the game."

Dude. It's become painfully obvious ANYONE can qualify to get in the game. Even ultra-maroons who get snookered Kiyosaki.

Kiyosaki cracks me up. He has a whole book/seminar for telling people the difference between an asset and a liability. I guess the sad thing is how many people don't know that.

It *is* sad and the tragedy of it is that we fail to educate our kids in any kind of financial intelligence.. The mantra was and still is "go to school, get good grades, get a good *job*". Be somebody's employee and make them wealthy. Not that going to school and having a job are bad things but it sure is nice to do them on your own terms. I'd think that if you really knew the difference between asset and liability you wouldn't be making rental contributions to somebody else's prosperity. As for the all those "anyones" that can qualify, we'll see how long that lasts.

"I'd think that if you really knew the difference between asset and liability you wouldn't be making rental contributions to somebody else's prosperity."

JD

I don't know why I should be surprised by someone who takes a mantra reminiscent of Orwell's 1984, and co-opts it as his financial mantra, yet doesn't see anything wrong with that, but you assumption is faulty; my mortgage contributions are contributing to someone else's prosperity not my rental contributions. At least 80% of it is.

My guess is that as soon as anybody can no longer qualify, my equity will be a lot less than Zillow now claims it is.