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Thread: What happens if Build Back Better is passed?

  1. #11
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    Tahuyaman's Avatar Senior Member
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    Quote Originally Posted by MisterVeritis View Post
    I am essentially debt free. I have a 30 year mortgage at 2% interest. I suppose I could sell 100K worth of bonds.
    Then you aren’t actually debt free.
    When the people find that they can vote themselves money, that will herald the end of the republic.“ - Benjamin Franklin.


    “When people get used to preferential treatment equal treatment seems like discrimination.” - Thomas Sowell

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    carolina73's Avatar Senior Member
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    Quote Originally Posted by MisterVeritis View Post
    I am essentially debt free. I have a 30 year mortgage at 2% interest. I suppose I could sell 100K worth of bonds.
    I sounds like you might be making a little money off the current arrangement with only a 2% interest rate if the bonds are at 1.5%.
    Let's go Brandon !!!

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    Quote Originally Posted by Tahuyaman View Post
    Then you aren’t actually debt free.
    Close enough. I can live here for the rest of my life cheaply. Even in a month with no income I can easily afford my monthly expenses.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.


    I pledge allegiance to the Constitution as written and understood by this nation's founders, and to the Republic it created, an indivisible union of sovereign States, with liberty and justice for all.

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    Quote Originally Posted by carolina73 View Post
    A sell off of bonds will be what saves this country, When the cheap low interest borrowing is gone then the Democrats spending will be exposed for how harmful it is. Only then are we going to be able to roll back these programs. I hope it happens fast because it will be easier to take away. The dollar is going to suffer greatly. The interest rates will skyrocket. Inflation will be unbearable. It will be another Carter crash and we will need a new Ronald Reagan to make us face the music.
    I haven't had a personal loan in some 20+ years. I own everything. My kids all listened and paid of their homes on a fast track. You better be debt free going into this.
    The better option is to get the low interest loans now to be paid off with less valuable dollars.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.


    I pledge allegiance to the Constitution as written and understood by this nation's founders, and to the Republic it created, an indivisible union of sovereign States, with liberty and justice for all.

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    Quote Originally Posted by carolina73 View Post
    I sounds like you might be making a little money off the current arrangement with only a 2% interest rate if the bonds are at 1.5%.
    When the economy collapses the bonds' value will drop close to zero.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.


    I pledge allegiance to the Constitution as written and understood by this nation's founders, and to the Republic it created, an indivisible union of sovereign States, with liberty and justice for all.

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    Quote Originally Posted by carolina73 View Post
    A sell off of bonds will be what saves this country, When the cheap low interest borrowing is gone then the Democrats spending will be exposed for how harmful it is. Only then are we going to be able to roll back these programs. I hope it happens fast because it will be easier to take away. The dollar is going to suffer greatly. The interest rates will skyrocket. Inflation will be unbearable. It will be another Carter crash and we will need a new Ronald Reagan to make us face the music.
    I haven't had a personal loan in some 20+ years. I own everything. My kids all listened and paid of their homes on a fast track. You better be debt free going into this.
    100% debt free.
    Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes​

  7. The Following 3 Users Say Thank You to DGUtley For This Useful Post:

    carolina73 (12-02-2021),Collateral Damage (12-02-2021),MisterVeritis (12-21-2021)

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    Quote Originally Posted by MisterVeritis View Post
    When the economy collapses the bonds' value will drop close to zero.
    The economy is not going to collapse. Get a grip.

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    Collateral Damage's Avatar Senior Member
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    Only debt is the work flop house, and that can be paid off tomorrow if we wanted to.

    We can shelter from the storm, if necessary, for the most part. Only issue is insulin for me.
    "I believe there are more instances of the abridgement of freedom of the people by gradual and silent encroachments by those in power than by violent and sudden usurpations." -- James Madison

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    Quote Originally Posted by MisterVeritis View Post
    When the economy collapses the bonds' value will drop close to zero.
    The depends on the risk of the bond. I assumed these were Federal or state bonds not corporate or local.

    https://www.macrotrends.net/2016/10-...te-yield-chart
    Let's go Brandon !!!

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    Quote Originally Posted by carolina73 View Post
    The depends on the risk of the bond. I assumed these were Federal or state bonds not corporate or local.

    https://www.macrotrends.net/2016/10-...te-yield-chart
    Yes, Treasury.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.


    I pledge allegiance to the Constitution as written and understood by this nation's founders, and to the Republic it created, an indivisible union of sovereign States, with liberty and justice for all.

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