Forum Discussion
tomman58 wrote:
You got a diesel, a 2018 33' trailer, two high end bicycles and a Honda genny and you're pontificating about being on a fixed income - give me a break.
"But if we get an agreement,it will be to our benefit. You would think the tax cuts and cuts in regulations, they would offset the cost of the tarrifs. With the economy roaring along like it is, these industries will get through it."
"if" we get an agreement. Nothing says we will or that it would benefit us at all. Tax cuts and reg cuts have not and will not help. The economy is going in trillion dollar debt and is up to 8 1/2 T.
The premise of this page was RV's and of course none of the current mess is going to help us. Peoples wages are barely moving up while the cost for us to have fun is rising fast as are our PU trucks. People work hard to get to retirement (ME) and with our very fixed incomes the price for RVing keeps going up. Someone needs to come up with a great unit at 20% less not more!- "But if we get an agreement,it will be to our benefit. You would think the tax cuts and cuts in regulations, they would offset the cost of the tarrifs. With the economy roaring along like it is, these industries will get through it."
"if" we get an agreement. Nothing says we will or that it would benefit us at all. Tax cuts and reg cuts have not and will not help. The economy is going in trillion dollar debt and is up to 8 1/2 T.
The premise of this page was RV's and of course none of the current mess is going to help us. Peoples wages are barely moving up while the cost for us to have fun is rising fast as are our PU trucks. People work hard to get to retirement (ME) and with our very fixed incomes the price for RVing keeps going up. Someone needs to come up with a great unit at 20% less not more! - This isn't Trump's trade war,it's our war with countries that have been screwing us for years.Many politicians and businesses complained about it but did nothing. Yes there will be some pain just like when my wife's job went to Mexico because of NAFTA. But if we get an agreement,it will be to our benefit. You would think the tax cuts and cuts in regulations, they would offset the cost of the tarrifs. With the economy roaring along like it is, these industries will get through it.
DallasSteve wrote:
rk911 wrote:
so, one poster early in this thread hopes millions of Americans lose their jobs in a recession in order to buy an RV and find a space in a campground and now another seemingly touts the alleged success of a cheat and liar and a third who was likely a bully as a child. none of the above are anyone to admire.
Do you admire the posters who spend their time on this forum attacking other posters? I don't.
i think i quite ably pointed out those whom i do not admire.rk911 wrote:
so, one poster early in this thread hopes millions of Americans lose their jobs in a recession in order to buy an RV and find a space in a campground and now another seemingly touts the alleged success of a cheat and liar and a third who was likely a bully as a child. none of the above are anyone to admire.
Do you admire the posters who spend their time on this forum attacking other posters? I don't.wa8yxm wrote:
Really, you have high regard for someone who holds a grudge against some nameless bank employee who turned them down for a loan? Did you just make this story up, or is it some urban legend you are mindlessly repeating?
Gdetrailer said "In reality those "Millionaires" HAD to have SOMETHING to "borrow against" called COLLATERAL in order to get LOW INTEREST LOANS OR LINES OF CREDIT."
Sorry not always true.. I know of several and one in particular (I will not name) Who lied and have "inflated" their holdings on paper so as to obtain loans when in fact they were already over extended. So not. if you are good at creative bookeeping you may well get the loan anyway.
On the other hand I know of one who did NOT get the loan... Well things happened (He almost got in a fight) and well. got distracted from the fight and got busy
A fairly short time later he returned to the bank and looked up the loan officer who had turned him down.
MAn: Do you remember me
Bank employee; NO should I
M: you turned me down for a loan on Date
B: I'm not in loans any more
M: I know. in fact you are not in banking any more you are fired
B: you can't do that only the new owner can do that.
M: Yes. I know.. Want to see the sales agreement or the Title to the bank. I just bought it
And yes he made millions and his company is still in business today
I promised no names.
It is almost a certainty that the loan was turned down due to the fact the prospective borrower did not meet one or more of the criteria the bank used to evaluate loans. Then the guy supposedly gets in the banking business and seeks out and fires someone who was just following the rules his employer laid out. This story is 110% hogwash.- so, one poster early in this thread hopes millions of Americans lose their jobs in a recession in order to buy an RV and find a space in a campground and now another seemingly touts the alleged success of a cheat and liar and a third who was likely a bully as a child. none of the above are anyone to admire.
wa8yxm wrote:
Gdetrailer said "In reality those "Millionaires" HAD to have SOMETHING to "borrow against" called COLLATERAL in order to get LOW INTEREST LOANS OR LINES OF CREDIT."
Sorry not always true.. I know of several and one in particular (I will not name) Who lied and have "inflated" their holdings on paper so as to obtain loans when in fact they were already over extended. So not. if you are good at creative bookeeping you may well get the loan anyway.
On the other hand I know of one who did NOT get the loan... Well things happened (He almost got in a fight) and well. got distracted from the fight and got busy
A fairly short time later he returned to the bank and looked up the loan officer who had turned him down.
MAn: Do you remember me
Bank employee; NO should I
M: you turned me down for a loan on Date
B: I'm not in loans any more
M: I know. in fact you are not in banking any more you are fired
B: you can't do that only the new owner can do that.
M: Yes. I know.. Want to see the sales agreement or the Title to the bank. I just bought it
And yes he made millions and his company is still in business today
I promised no names.
The plan gets even riskier. This sounds like a good way to end up in prison. Not something I would do.- Gdetrailer said "In reality those "Millionaires" HAD to have SOMETHING to "borrow against" called COLLATERAL in order to get LOW INTEREST LOANS OR LINES OF CREDIT."
Sorry not always true.. I know of several and one in particular (I will not name) Who lied and have "inflated" their holdings on paper so as to obtain loans when in fact they were already over extended. So not. if you are good at creative bookeeping you may well get the loan anyway.
On the other hand I know of one who did NOT get the loan... Well things happened (He almost got in a fight) and well. got distracted from the fight and got busy
A fairly short time later he returned to the bank and looked up the loan officer who had turned him down.
MAn: Do you remember me
Bank employee; NO should I
M: you turned me down for a loan on Date
B: I'm not in loans any more
M: I know. in fact you are not in banking any more you are fired
B: you can't do that only the new owner can do that.
M: Yes. I know.. Want to see the sales agreement or the Title to the bank. I just bought it
And yes he made millions and his company is still in business today
I promised no names. WTP-GC wrote:
Tariff thread to Dave Ramsey debate. Got to love the internet. Quote ON!d3500ram wrote:
rk911 wrote:
tomman58 wrote:
troubledwaters wrote:
rk911 wrote:
Every millionaire i know borrowed money and used that money to leverage deals to make big time money. Fact is, I have plenty of borrowed money at 4% while my invested money is making 13% right now.pitch wrote:
ZINGERLITE wrote:
Cummins12V98 wrote:
Grit dog wrote:
Is this what ya do when you get old? Sit around and argue about economics, politics and the weather (and axle ratings, lol)?
YUP
Shop local only and you need a 1 ton to tow a pop up!
And always pay cash. If you need credit you can't afford it!
i agree that avoiding debt is a step along the path to wealth and financial independence but not carrying CC debt and not using CCs are two different things.
Boy that sure sounds like the recipe for disaster! That's one of those thongs that works so good till it doesn't LOL
it sure does. i suspect that the vast majority of millionaires (folks with a net worth of $1m or more) did not use borrowed money to increase wealth. TroubledWaters is ignoring or discounting risk...risk of losing an income stream and not being able to address debt. i know, can't happen/won't happen. i've been fired twice from jobs i thought were secure. being debt free made those situations much less stressful and manageable. in both cases i was able to secure better jobs at higher salaries.
I have nothing to add except I like to see how many responses that have many multiple quotes-in quotes within quotes we can get. But I am enjoying the topic of this thread.
Agreed!!
