Essential Economics for Politicians

messy said:
You’re in a weird world. Who loans or borrows money at 12%? Somebody without assets, ha!
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Who borrows money when 60% plus of your monthly payment goes to interest for the first 6 years?!! Fries U, what a deal!!
 
Bruddah IZ said:
No. But I did have to foreclose someone before. What a pain.
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Stroke of a pen from the cubicle and you served your banker bosses by taking somebody’s home? No wonder you’re such a happy guy.
And no wonder you can’t afford a house. Jeez, what a shit job you have.
 
messy said:
Stroke of a pen from the cubicle and you served your banker bosses by taking somebody’s home? No wonder you’re such a happy guy.
And no wonder you can’t afford a house. Jeez, what a shit job you have.
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But it was their asset. How could we take it? Fries U strikes again!
 
Bruddah IZ said:
But it was their asset. How could we take it? Fries U strikes again!
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You had a contract that allowed you to take it if they didn’t pay you for it. Pretty much the same with any asset that anyone buys. Again, very basic stuff. Don’t overcomplicate it, son.
 
Bruddah IZ said:
You mean like a liability. Fries U baby!!
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There are a few ways to be an asset. On credit, via a loan, installments, etc. It doesn’t matter what kind of asset. Real property is just one type of asset.
Unless you buy it “outright,” you can in many cases be at risk for losing the asset. This particularly applies to when the lender has the asset as “collateral” (look it up) for the loan. In such a case, the lender need not sue you for money, they can simply repossess the asset. Liability is the loan, not the asset. They are not only two different things, they are actually opposite. Why are you having such a difficult time with these concepts? They’re not complicated.
 
messy said:
There are a few ways to be an asset. On credit, via a loan, installments, etc. It doesn’t matter what kind of asset. Real property is just one type of asset.
Unless you buy it “outright,” you can in many cases be at risk for losing the asset. This particularly applies to when the lender has the asset as “collateral” (look it up) for the loan. In such a case, the lender need not sue you for money, they can simply repossess the asset. Liability is the loan, not the asset. They are not only two different things, they are actually opposite. Why are you having such a difficult time with these concepts? They’re not complicated.
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LMAO!!! You and Fries should get married. Nothing more complicated then your jumbled thesis above.
 
messy said:
Stroke of a pen from the cubicle and you served your banker bosses by taking somebody’s home? No wonder you’re such a happy guy.
And no wonder you can’t afford a house. Jeez, what a shit job you have.
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Getting a bit emotional aren't we?
Personal also, especially for someone who can't even be 1 identify on a soccer forum.
You lose.
 
messy said:
Which part was too complicated for you? Happy to break it down even further. Although some of it is so basic that a dictionary can even help you.
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Yes it can. But at some point you have to understand the process. Otherwise you’re just messily stacking words. You write about collateral for a loan which was easy enough and correct. You then contradict yourself by saying “the liability is the loan, not the asset”. Maybe not what you meant. But if you meant that statement to mean that the loan is a liability for the borrower, I am proud of your progress. But people who know finance and real estate know a convoluted understanding when they read it. So just to clarify, the loan is a liability for the borrower?
 
Bruddah IZ said:
Yes it can. But at some point you have to understand the process. Otherwise you’re just messily stacking words. You write about collateral for a loan which was easy enough and correct. You then contradict yourself by saying “the liability is the loan, not the asset”. Maybe not what you meant. But if you meant that statement to mean that the loan is a liability for the borrower, I am proud of your progress. But people who know finance and real estate know a convoluted understanding when they read it. So just to clarify, the loan is a liability for the borrower?
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Yes, the loan is a liability for the borrower. The asset is what the buyer (I.e. borrower) financed with the loan. Not convoluted. Only your misunderstanding of what an “asset” is, as Fries has explained to you several times.
 
messy said:
Yes, the loan is a liability for the borrower. The asset is what the buyer (I.e. borrower) financed with the loan. Not convoluted. Only your misunderstanding of what an “asset” is, as Fries has explained to you several times.
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So far so good. An asset for the lender who has collateralized your debt.
 
messy said:
Stroke of a pen from the cubicle and you served your banker bosses by taking somebody’s home? No wonder you’re such a happy guy.
And no wonder you can’t afford a house. Jeez, what a shit job you have.
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You've been foreclosed on before.....Niceeeee.
 
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