Do most of things you own belong to the bank of commerce?My brother came into town and he likes to put his nose up in the air and brag how he owns several sports cars and all these homes. But the sad fact is that the bank owns most of his junk. I live more simply and have only one car but I own everthing I have and don't take out a loan for any thing I buy. My... | |
Its not so terrible that he essentially "rents" things for use while the bank owns them, but what does matter is
a.) are the terms on that financing good because that is essential to the buy with cash or finance decision
b.) how easily is the item liquidated if necessary and how painless is getting out of the deal.
When a. and b. are good stories, and of course its all affordable, its ok for the bank to own things you put to use for a fee.
I wouldn't be surprised if the interest he pays eats up a lot of money that could be put to better use though than he gets from his toys, but to each his own. He earned the right to be a materialist. If he's lucky he will grow out of it sooner not later
We live in a consumption driven, finance wildly, culture of me me me, gotta have it, culture and the latest bail outs don't send enough painful lessons to those that should know better, and stick the rest of us with their problems.
Eventually no one owns anything
we really borrow it from the universe
you cannot take it with you when you die..and you will die. so let go of now.
There is nothing like cash, over plastic. Way to go!
There's no such thing as a "bank of commerce".
he is expecting a government bail out when things go south.
financed by you.
