Comments on: The End of Wealth http://www.pickthebrain.com/blog/the-end-of-wealth/ Mon, 13 Feb 2012 03:29:00 +0000 hourly 1 http://wordpress.org/?v=3.1 By: make money online with no money http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-50486 make money online with no money Sat, 05 Apr 2008 08:26:22 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-50486 <strong>make money online with no money...</strong> Good job, I enjoyed that.... make money online with no money…

Good job, I enjoyed that….

]]> By: Comment Competition Winner from Last Week | PickTheBrain http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-47408 Comment Competition Winner from Last Week | PickTheBrain Thu, 27 Mar 2008 08:01:05 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-47408 [...] last weeks article The End of Wealth, we offered a small prize of a $20 Amazon gift certificate to one person who left a [...] [...] last weeks article The End of Wealth, we offered a small prize of a $20 Amazon gift certificate to one person who left a [...]

]]> By: CJ http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-47345 CJ Tue, 25 Mar 2008 03:32:11 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-47345 The underlying problem is that most people are de-facto slaves. The bases of life used to be independence of a family unit, or a village. In other words, you could take care of yourself and those around you, God willing and the creek doesn't rise. Now, we are all interdependent. If something goes wrong anywhere, it affects you. You don't grow your own food, etc. Nor does anyone around you. If milk goes up to $50 a gallon, do you have a cow of your own to get it from ? If gas goes to $75/gallon, do you own a refinery? The end result is a vast multitude of people who do not have control over their lives. This makes it relatively easy for the few in powerful positions to manipulate the entire multitude. The underlying problem is that most people are de-facto slaves. The bases of life used to be independence of a family unit, or a village. In other words, you could take care of yourself and those around you, God willing and the creek doesn’t rise.

Now, we are all interdependent. If something goes wrong anywhere, it affects you. You don’t grow your own food, etc. Nor does anyone around you. If milk goes up to $50 a gallon, do you have a cow of your own to get it from ? If gas goes to $75/gallon, do you own a refinery?

The end result is a vast multitude of people who do not have control over their lives. This makes it relatively easy for the few in powerful positions to manipulate the entire multitude.

]]> By: Tyro http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-47340 Tyro Mon, 24 Mar 2008 16:33:49 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-47340 "Limited liability" corporations seem like they're expressly designed to promote actions that are immoral or reckless since individuals face no consequences for poor decisions and potentially reap large rewards if they luck out and things go their way. BSC is a good example, made all the worse by a massive government bailout. Some individuals made very poor decisions with their investing and lending, yet no one that made those decisions faces has to deal with the consequences of their actions. We as individuals may bow out of the system, but we'll probably still be victims of the next Bear Sterns or other corporate shenanigan. “Limited liability” corporations seem like they’re expressly designed to promote actions that are immoral or reckless since individuals face no consequences for poor decisions and potentially reap large rewards if they luck out and things go their way. BSC is a good example, made all the worse by a massive government bailout. Some individuals made very poor decisions with their investing and lending, yet no one that made those decisions faces has to deal with the consequences of their actions.

We as individuals may bow out of the system, but we’ll probably still be victims of the next Bear Sterns or other corporate shenanigan.

]]> By: Lana http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-47330 Lana Mon, 24 Mar 2008 09:45:38 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-47330 Peter, I do believe, that banks had started the process. Under the banner "Housing for all", they lowered the standards of qualifying for the loan: things like not enough income, no down payment, no credit history were acceptable. (Even to rent an apartment you have to come up with 2 to 3 months rent). Too many people liked the lure of moving into a nice new house: no money down with a creative financing 20/80 (nothing to lose) and waiting for a couple of years before selling with a profit and before the teaser rate ends sounded good. When the time came, all these homeowners put up "For Sale" signs and flooded the RE market. The supply was greater, then the demand; the homes would not sell, sellers would file for the foreclosure and walk (easy: no down payment - nothing to lose. They would've paid rent somewhere else anyway, right?). Whose greed is a bigger factor here? The banks paved the way by offering the money. Media was happy to devour the affordable housing fairytale. The poor uneducated and unqualified masses accepted the offer. Nobody without an adequate income could buy a house 8 or more years ago. 10%(with PMI) to 25%(with no docs on income) down payment and 8% or more interest on the loan held the RE market in check. People accepted the responsibility and had something to loose. Only major event (the faulting economy, etc) triggered the foreclosure). This time the scenario is a bit different. Too bad, that many, who honestly came up with the down payment and qualified for the loan this time around, got entangled in this mess, too. Peter,
I do believe, that banks had started the process. Under the banner “Housing for all”, they lowered the standards of qualifying for the loan: things like not enough income, no down payment, no credit history were acceptable. (Even to rent an apartment you have to come up with 2 to 3 months rent). Too many people liked the lure of moving into a nice new house: no money down with a creative financing 20/80 (nothing to lose) and waiting for a couple of years before selling with a profit and before the teaser rate ends sounded good. When the time came, all these homeowners put up “For Sale” signs and flooded the RE market. The supply was greater, then the demand; the homes would not sell, sellers would file for the foreclosure and walk (easy: no down payment – nothing to lose. They would’ve paid rent somewhere else anyway, right?). Whose greed is a bigger factor here? The banks paved the way by offering the money. Media was happy to devour the affordable housing fairytale. The poor uneducated and unqualified masses accepted the offer.
Nobody without an adequate income could buy a house 8 or more years ago. 10%(with PMI) to 25%(with no docs on income) down payment and 8% or more interest on the loan held the RE market in check. People accepted the responsibility and had something to loose. Only major event (the faulting economy, etc) triggered the foreclosure). This time the scenario is a bit different.
Too bad, that many, who honestly came up with the down payment and qualified for the loan this time around, got entangled in this mess, too.

]]> By: MrPositioning.com (Stanley Bronstein) http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-47298 MrPositioning.com (Stanley Bronstein) Sat, 22 Mar 2008 16:07:15 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-47298 I read dozens of blog entries each day and this was one of the better posts I've seen in quite some time. You hit this nail RIGHT on the head. I too work in the real estate industry, so I've seen lots of the problems you talked about first hand. I've worked on putting together large deals, all the while wondering if the economics of the deal could support it. Apparently, the economics of many deals are not cutting it these days. The lesson to take from this is that the ends do NOT always justify the means. Mr Positioning Stanley F. Bronstein Attorney, CPA, Author and Professional Speaker I read dozens of blog entries each day and this was one of the better posts I’ve seen in quite some time.

You hit this nail RIGHT on the head. I too work in the real estate industry, so I’ve seen lots of the problems you talked about first hand. I’ve worked on putting together large deals, all the while wondering if the economics of the deal could support it. Apparently, the economics of many deals are not cutting it these days.

The lesson to take from this is that the ends do NOT always justify the means.

Mr Positioning
Stanley F. Bronstein
Attorney, CPA, Author and
Professional Speaker

]]> By: Karen http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-47291 Karen Sat, 22 Mar 2008 02:12:49 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-47291 What is worship without sacrifice? What is worship without sacrifice?

]]> By: Dale Fildes http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-47280 Dale Fildes Fri, 21 Mar 2008 14:46:53 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-47280 Just as in the Law of Attraction affects us individually, it will also affect the giant companies and banking institutions. If greed is what you desire, then losing it all will be at the end of that journey. This same concept can be applied to businesses that are contantly only focused on the bottom dollar (layoffs - poor raises) and not the quality of the employee, the result down the road is shabby work and production loss resulting in less profit. When I teach my marketing courses, the one point I like to make is for people to look at the quality of life and what you give it, not the making of the bottom dollar. To get more, we have to become more as a person. Just as in the Law of Attraction affects us individually, it will also affect the giant companies and banking institutions. If greed is what you desire, then losing it all will be at the end of that journey. This same concept can be applied to businesses that are contantly only focused on the bottom dollar (layoffs – poor raises) and not the quality of the employee, the result down the road is shabby work and production loss resulting in less profit. When I teach my marketing courses, the one point I like to make is for people to look at the quality of life and what you give it, not the making of the bottom dollar. To get more, we have to become more as a person.

]]> By: Mike http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-47273 Mike Fri, 21 Mar 2008 03:27:20 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-47273 Too many people clearly miss the concept that life is not about the destination but the journey. It is really no wonder so many people miss out and frequently find themselves disappointed about where they end up. Too many people clearly miss the concept that life is not about the destination but the journey. It is really no wonder so many people miss out and frequently find themselves disappointed about where they end up.

]]> By: Brian http://www.pickthebrain.com/blog/the-end-of-wealth/comment-page-1/#comment-47270 Brian Thu, 20 Mar 2008 23:48:05 +0000 http://www.pickthebrain.com/blog/the-end-of-wealth/#comment-47270 I think everyone should read the Ultimate Cheapskates Guide: road to true riches. Its message is simple, the chase for money isn't what is important. It's our time and our belief in how we spend our time. It's better to spend it with time and friends and living life rather than in the endless pursuit of "more." Wealth is an individual definition. Let's live life now. Enough is enough. I think everyone should read the Ultimate Cheapskates Guide: road to true riches. Its message is simple, the chase for money isn’t what is important. It’s our time and our belief in how we spend our time. It’s better to spend it with time and friends and living life rather than in the endless pursuit of “more.” Wealth is an individual definition.

Let’s live life now. Enough is enough.

]]>