I'm careful not to mistake the store money for my money.
I figured this out early on.
So I might have a really good day, like yesterday, and have a stack of twenties and fifties and feel really prosperous. Except I don't. It has no emotional resonance for me at all. Because it's way too easy to summon up a vision of the stack of debt that stacks even higher.
The money is not my money.
During the height of the housing boom, I had people in the building trade ask why I didn't use some of that cash to invest in real estate.
You know, because it was a sure thing.
Well, I'd had my fill of "sure things." Sure things are NEVER sure things. Everytime I had overbought because it was a sure thing, eventually I would have an instance where I would lose all the money I'd made before....
But I'm sure that's what happened to the people at Summit 1031.
They probably started off thinking what a waste it was to have all the cash sitting in low-interest bearing accounts. They should invest a little in the market, and make some money with it!
It's a sure thing!
Then as they watched their real estate investments skyrocket in value, they thought, why not take a little out to spend? There is so much more than we actually owe.
What amazes me that there are STILL people who are defending these guys.
Hell, the store money IS mine in the sense that the risk is all mine. That is, if I take from the store and the store fails, I pay the penalty. (Well, so do the suppliers and the rest, I guess.)
Anyway, it's just poor impulse control.
But in the case the Summit people: IT WASN'T THEIR MONEY!
There is no real excuse.
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Dunc you money is my money.
Or in terms of Bend socialism your money is my money, and my money, is my money.
Sorry to be gone for so long, but was living in China for the past 2 months and there they block 'blogger.com', no loss. Probably not a bad idea to block shit. In the USA they let everyone say as they wish, and then you get a visit depend on your interests. In China, they take the approach that no knowledge is good knowledge. Like in the USA you can find a bomb-making site, but reading that site will get you on a list, in China no need for a list, cuz that site is not avail, ... so goes the logic. Hadn't been back to China for a few years, most noticeable was that cop's are vitually unseen, and that most vehicles are now electric. Not seeing cops suits most people, but not hearing a motorcycle coming makes it your hearing a worthless 'sense'. My god those people are miles ahead of the USA. Things are now more expensive in China than in USA in general.
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