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mon_fi

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Produce, produce, produce: why production matters, and why all money is debt.

When I was a kid, I use to think that if I wanted to make my country richer, I would have to sell a product to other countries, not mine. The balance of account of my country was all I had a look at because I thought that was the only way to pay off debt: by selling to others, not to ourselves.

That was wrong.

Let's imagine a village inside which you have a baker selling bread, a butcher selling steaks and a tailor selling suits. If the baker makes one bread per day, the tailor one suit per day and the butcher one steak per day, he'll have 1/3 of bread and will have to sell 1/3 to the butcher and 1/3 to the tailor. Similarly, the small amount of bread he sold will get him only 1/3 of suit and 1/3 of steak, because the other two are no more productive. However, if each inhabitant makes three pieces, the baker three breads, the tailor three suits and the butcher three steaks, they each will be able to get one bread, one steak and one suit, exchanging that what they produce against that that was produced by the other.

Simple, if you produce a lot, you get to have a lot in exchange.

Now let's have a look at money, and why all money is debt.

Money was invented to simplify this exchange of bread, steacks and suits. Instead of exchanging bread against steak, we exchange them both against money, easy.

Originally, no one has money. Money arrives when it is borrowed. As such, the baker has bread, the butcher has steaks, the tailor has suits, but none of them have money to buy the goods of the others. They therefore decide to each borrow two euros.

With his two euros, the baker will buy one suit for one euro and one steak for one euro. He now has spent all his money. The tailor and the butcher now have each three euros, two that they borrowed, and one, coming from selling their goods to the baker. But soon, the tailor goes spend one euro at the baker, and one euro at the butcher, and the butcher goes spend one euro at the tailor and one euro at baker.

Results: each inhabitant spent two euros that they borrowed to acquire two goods they did not produce, and each inhabitant sold for a total of two euros of goods.

At the beginning of the situation, they had two euros that they borrowed and three pieces of the good that they make. At the end, they had two euros of debt, two euros of income and a piece of each product they don't produce and two pieces of goods that they produce less than they had at the beginning.

They take their two euros of income and go to the bank where they can reimburse their debts and go back to their shop.

The end.

Lesson: from a purely economic standpoint, the end of money is its disappearance. Money is merely there to facilitate the exchange of goods between each other, but at the end, all money must be refunded.

What matters the most is not the money, but what is produced in the economy. He who produced a lot for others has others producing a lot for him. Money allows the exchange of goods produced and must eventually go back to the bank.

As such, if you want to have a positive impact on the world, your job is to produce.

What you do doesn't matter as when you produce, you're making the world better and richer because you're making something. If no one did anything, everyone would be poor. If the entire planet was super productive, everyone would be "rich"! Rich countries are those where people produce a lot. Poor countries are those where people don't produce anything (yes i know, it's more complicated than that).

It doesn't matter what you make, it doesn't matter who you sell to, and I disagree with the idea that good is better than perfect, because I think that anything produced is better than nothing produced.

If you want to help yourself and if you want to help the world, produce, produce, produce. I

M.
 

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spElle

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I'm here to rent about letting agents again. :rofl:

They've billed me incorrectly three times, the first time the 'additional funds' said £29,250. I was like :wideyed: Why do LAs run so badly in the UK?
Screenshot 2020-10-12 at 14.08.39.png

I only need to pay the blacked out boxes, as 'Advance Rent' is my full tenancy term up front, I dunno why they keep adding an additional amount.

Had to speak to four people from two companies to deal with it, frustrating.

ANYWAY at least as of Wednesday I have my own place again! I'm never taking my freedom for granted again. :smile:
 

Kid

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Voting usefulness is not in choosing President primarily, but in quantifying populations actual state of brain.

Elections seem to be nation wide IQ tests in disguise (or EQ).

If you voted for past few of them, you also might treat it as a life long feedback of your own choices (and opportunity to see if those improved or declined over time).

Processing results of this feedback is pretty slow, averages to 4 years but its better than nothing.

Even if you "Vote None!", that is - you are roughly half of US population, you still can get statistically meaningful data from this voluntary test (for any use you can come up with).

It seems that some people are right when they say: nothing goes to waste in nature, even election.
 

sparechange

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Voting usefulness is not in choosing President primarily, but in quantifying populations actual state of brain.

Elections seem to be nation wide IQ tests in disguise (or EQ).

If you voted for past few of them, you also might treat it as a life long feedback of your own choices (and opportunity to see if those improved or declined over time).

Processing results of this feedback is pretty slow, averages to 4 years but its better than nothing.

Even if you "Vote None!", that is - you are roughly half of US population, you still can get statistically meaningful data from this voluntary test (for any use you can come up with).

It seems that some people are right when they say: nothing goes to waste in nature, even election.

I've never voted in my life :eek:
 

Kid

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I've never voted in my life :eek:
I did once - sister asked me to. It's easier then explaining how politics work so i took a shortcut.

It feels like this:

;)
 

Xeon

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LordGanon

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I'm not gonna complain, but...I'm running like a well-oiled machine.

No procrastination. I'm killing off Trello cards left and right like a Samurai. With total calmness, no feeling of exhaustion, or over-agitation. And I only have to sleep 5 hours.

And I can't say why that is, and that annoys me a little, because then I could adjust my behavior when the great procrastination sets in again. No supplements except the usual (zinc, vitamin D, fish oil, magnesium, B vitamins). Daily meditation. Gym 3 times a week. No change in diet.

When I finally find out how that works, I'm gonna write a book.
 

Kak

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Well, I am no longer the proud owner of an S550 all because a lady didn't have her coffee. Turned it over to insurance today. Still negotiating the settlement.

Probably just going to get something nice for the wife... I am starting to wonder why even bother with nice cars. I drove my old truck 2/3 of the time anyway.

I know a guy. Easily worth 100m, lives in a 10m dollar home, drives an old Lexus LX470. He loves it. His wife always has something newer and cool. I like his style. Screw it.

Anyone have any experience with Porsche Cayenne or BMW X5?
 
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sparechange

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Ocean Man

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Protect your personal information. I found a great article that guides you on opt-ing out of several large data-aggregators.


It's so weird, I've always been good about protecting my information and for the longest time I didn't appear in these data aggregator sites. I wonder why I started appearing... who got my information and who sold it...
 

MJ DeMarco

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Has anyone ever taken the Amazon Advertising tutorial (classes) offered by Amazon?

Worth the time?

Screen Shot 2020-10-16 at 1.43.14 PM.png
 

MoneyDoc

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Guys, I need some advice.

There's an iconic condo being built in Toronto. The day the renders and plans were revealed, I knew this was a "dream" purchase.

Fast forward two years, construction has started and is expected to complete by May 2023.

My issue was with the deposit structure. They wanted 25% in 1 year. So, I decided to email the owner of the development company. To my surprise, he actually responded. I explained to him that I'm this 26 year old, self made entrepreneur, have a similar story to his teenage years, etc. and I told him if he would consider a monthly deposit plan. He said he would be glad to help. I sent him a proposal, he accepted. This all feels like a dream because this is the type of building that has $18m suites that have already sold and there is no reason for them to even consider a ridiculous deposit structure. So I'm still in shock but I need your advice.

The unit costs $2.8m, I can it get for $10k/month until May 2023 with an additional 10% due on occupancy (this was my proposal).

Do I pull the trigger? In a way, I'm "saving" money, aren't I? I also feel like this building, once built, will have ridiculously high resale values. If I can keep up with the payments and the final $280k at occupancy, I think I'll get an insane ROI.

I'm just having second thoughts now... not sure why. I kinda don't want to let the owner down as that will completely tarnish my reputation to him. I actually want to ask him to mentor me down the road as my end goal in life is to become a developer. But at the same time, I don't want to make a bad mistake.

Any advice?
 

LordGanon

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Do you know why JUST DOING THINGS instead of only writing ToDo lists is d*** important?

Because about 80% of the time you realize "Well, this was done quicker than expected so my workload actually isn't as big as it looks on paper, man, I'm so motivated", and 20% of the time you're in for a surprise of the kind "Oh, this is actually more complicated and entails a lot of other things I haven't considered, yet".
 

LordGanon

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Any advice?
Listen to your guts. Literally.

Whenever making big decisions in life, I focus on how it feels in my stomach and intestines. I don't know why, but they seem to have a much clearer picture of the situation than my head, and also reflect my emotions in a much more untainted manner than my head.

Whenever I went against my guts for "rational" reasons, it turned out to be the wrong decision somewhere along the road, sooner or later.
 

Kid

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Guys, I need some advice.

There's an iconic condo being built in Toronto. The day the renders and plans were revealed, I knew this was a "dream" purchase.

Fast forward two years, construction has started and is expected to complete by May 2023.

My issue was with the deposit structure. They wanted 25% in 1 year. So, I decided to email the owner of the development company. To my surprise, he actually responded. I explained to him that I'm this 26 year old, self made entrepreneur, have a similar story to his teenage years, etc. and I told him if he would consider a monthly deposit plan. He said he would be glad to help. I sent him a proposal, he accepted. This all feels like a dream because this is the type of building that has $18m suites that have already sold and there is no reason for them to even consider a ridiculous deposit structure. So I'm still in shock but I need your advice.

The unit costs $2.8m, I can it get for $10k/month until May 2023 with an additional 10% due on occupancy (this was my proposal).

Do I pull the trigger? In a way, I'm "saving" money, aren't I? I also feel like this building, once built, will have ridiculously high resale values. If I can keep up with the payments and the final $280k at occupancy, I think I'll get an insane ROI.

I'm just having second thoughts now... not sure why. I kinda don't want to let the owner down as that will completely tarnish my reputation to him. I actually want to ask him to mentor me down the road as my end goal in life is to become a developer. But at the same time, I don't want to make a bad mistake.

Any advice?
You might be better off by turning this post into its own thread. It would be more visible to those who do RE.
 

Kid

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Yeap
ezgif-7-08ec2d59e171.jpg
that's how half a mil, 4k LED TV looks like. 262 inches.

 

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TheCj

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Yeap
View attachment 35313
that's how half a mil, 4k LED TV looks like. 262 inches.

Have you seen Samsung's the wall? Modular display with a variety of sizes depending on your space and pocketbook!

View: https://www.youtube.com/watch?v=QN9XI0ll_Us

View: https://www.youtube.com/watch?v=YaDORL2OGuo
 

sparechange

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I keep spending so much on my biz and am like a couple months away from bankruptcy and sleeping out on the sidewalk :rofl:

Orders to fulfill today............cash flow cash flow
 

Kak

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Joined a gym!

I am lifting weights 6 times per week with my brother who knows what he is doing.

3 weeks straight, I am really enjoying this.

I wish I had a globo gym nearby. That would be sweet.
 

Kid

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Don't know how about you, but smart part of the market thinks that TSLA market cap will get halved in 2 years.
 

thechosen1

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A connection of mine offered to lend me money for real estate with great terms... another connection offered a fantastic deal on a fixer upper house... but the lending connection only wants the money used on a primary residence ...
the slow lane influences the fast lane.
This deal won’t wait, but not sure how I will get the loan I need.
a few other options are available but they aren’t as good
 

PizzaOnTheRoof

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A connection of mine offered to lend me money for real estate with great terms... another connection offered a fantastic deal on a fixer upper house... but the lending connection only wants the money used on a primary residence ...
the slow lane influences the fast lane.
This deal won’t wait, but not sure how I will get the loan I need.
a few other options are available but they aren’t as good
Disclaimer: I know nothing about real estate investing beyond YouTube.

Personally I wouldn’t touch a fixer upper right now. I’d take the great loan deal, live in the house then rent it out in a couple years.
 

thechosen1

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Disclaimer: I know nothing about real estate investing beyond YouTube.

Personally I wouldn’t touch a fixer upper right now. I’d take the great loan deal, live in the house then rent it out in a couple years.
Fair assessment.
Do I go for the less-than-desirable duplex for the awesome cash flow, or the mild primary home though?
Afraid of chaining myself to the area, getting scripted. Want my freedom... financially and mobility-wise
 

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