Housing Bubble Correction Update: Here comes the jobs crash (Part I)

[Chris Coles]

Originally Posted by goadam1

Working and saving and investing is a fools game. Borrowing millions beyond your means is an investment in the future and a get quick rich scheme.

That will depend upon from which direction you take your viewpoint. If you see yourself as a single individual with no responsibilities towards anyone in your local community, then you are perhaps correct

But if you see your own good fortune as a responsibility to do what you can to help the rest of your local community to prosper and follow you as their leader to better times, then you are absolutely wrong.

What you have not noticed is that it is not only the investments that change, it is also the underlying philosophy. Humanity has prospered in the distant past by combining their efforts to the good of everyone. What we have at the moment is a devil take the hindmost attitude; that signally, has not succeeded and as a consequence, has to also change. You will find yourself out of step with the next phase of successful investment if you remain locked into the past paradigm.

You see, the FIRE economic model can only succeed for a relatively short period, which comes to an end when the hidden prosperity of the majority runs out, as is happening right in front of all of us. It is the same reason why any feudal model essentially fails every time. You end up with the majority so poor, they have no market power and all you can do is sit in your ivory tower and look out on an economic wasteland.

Prosperity is much more than money in the bank; it is being able to hold your head up in our local community and look around you at a local community that also has been able to see the value of what you have provided by leadership and investment.

Pity the man that sits on a pile of gold and all he can see is the starving poor surrounding him.