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RE: Vlog #89: One of the biggest things in life that I fear is debt.

in #life7 years ago (edited)

Great video, my bro! And highlights the dangers of getting involved in the dreaded "mortgage". I can think of two of my friends off the top of my head who are already up to their necks in debt. And you know what? They are absolutely happy with it and readily accept it for what it is. Very dangerous territory if you ask me.

I say that because from the moment you sign that piece of paper tying you up financially for X amount of years, nothing would make them happier than for you to default on that agreement. They would suddenly get a huge cash injection from that customers plight, rinse them dry and repeat the whole cycle once more to another pair of unsuspecting victims.

After all, they were the main instigators of the great economic downturn of 2007-2008. Doling out mortgages like there's no tomorrow, except the problem was the people back then declared themselves bankrupt instead. Now the checks are much more thorough so that if the same things happens now, you can bet they will recoup all the money back. And then some!

Well thought out and awesome vlog, yet again, bro! :)