Getting into debt
On August 4th, I’ll be completely debt-free. No mortgage, no car payments, no credit card balances, no installment loans, no personal debt, no margin, nothing. I’ll owe nobody a single cent.
This is pathetic; watching CNBC everyday, you’d think there was some kind of financial armageddon going on. Real interest rates are negative. The Case-Shiller index is down over 15% YTD. ”Wire houses” (investment banks that do nothing other than move money around) are suffering as the “de-levering” is forcing them back into sane amounts of leverage (below 30:1), which is taking massive amounts of cash out of the markets. The VIX stands at 22.94.
For investors with long time horizons, this might turn out to be a once-per-decade to buy assets very cheaply. I’m not too sure what’s going to happen, but I know that it’s high time I start using other peoples’ money to make money.
In short, I really want to get into debt.
Tags: money