>>519001008
so “_SMART_” people are borrowing APPRECIATING ASSETS (property, gold), indebted up to their gills, whilst letting inflation erode the cost of their debt by using interest-only loans to reduce monthly repayments to an offshore account that LOWERS the effective interest on the loan, and the “_SMART_” people are using this leveraged money to recycle their “bad debts”, like car repayments & personal loans, and turning them into house loans. So it’s a never-ending treadmill of debt that everybody is hoping the banks won’t come to collect because it’s the BANKS problem if you owe THEM $100m, but that script has been flipped on it’s head since now the GOVERNMENT is backing the loans, meaning by extension, you become ultimately responsible for over-leveraging yourself with debt. What the fuck, cunt
