I've been in debt my entire adult life, from college loans to car payments to mortgages. I want to pay off my home so I can finally be out of debt; but everyone tells me "But you should use it to lower your taxable income through the mortgage interest deduction." In other words, the government is incentivizing me to stay in debt. Oh, and even when I do pay it off, it's not actually paid off because I have property taxes for the rest of my life.
The entire world economy is built on debt and usury. It's bullshit. All of it. And the only solution is a total reboot, and there's no way the rich will let that happen.
So many finance guys freak out at me when I told them I paid down my mortgage in 10 years. They're basically telling everyone to take out a loan so you can put into a 401k. Asinine.
Realize that as soon as a bank makes a loan they sell it to a larger bank. 50 year mortgages will triple the selling price of mortgage backed securities. All the big investment companies will get massively richer from this. That's why they tell you never pay off your mortgage. Since so much fake wealth is generated by cycling the loans, if everyone paid their debts the system would collapse.
I've been in debt my entire adult life, from college loans to car payments to mortgages. I want to pay off my home so I can finally be out of debt; but everyone tells me "But you should use it to lower your taxable income through the mortgage interest deduction." In other words, the government is incentivizing me to stay in debt. Oh, and even when I do pay it off, it's not actually paid off because I have property taxes for the rest of my life.
The entire world economy is built on debt and usury. It's bullshit. All of it. And the only solution is a total reboot, and there's no way the rich will let that happen.
Property tax is just rent to the government in a reimagining of feudalistic societies.
So many finance guys freak out at me when I told them I paid down my mortgage in 10 years. They're basically telling everyone to take out a loan so you can put into a 401k. Asinine.
Realize that as soon as a bank makes a loan they sell it to a larger bank. 50 year mortgages will triple the selling price of mortgage backed securities. All the big investment companies will get massively richer from this. That's why they tell you never pay off your mortgage. Since so much fake wealth is generated by cycling the loans, if everyone paid their debts the system would collapse.