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      09-13-2019, 03:33 PM   #15
Flacht3
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Quote:
Originally Posted by Grumpy Old Man View Post
while the rest of us are trying to stretch out our car loans to 80 months to make the payment palatable, the super-rich are trying to find someone to gold-plate their spark plugs. God help us all when this bubble bursts.
I'm going to try and not get on a high horse here, but there are MANY assumptions being made and the author of the article sounds like part of the problem, not the solution.

Yes the income gap is widening, that is a fact. But it's asinine to assume that only the rich are getting richer. The last 10 years was the most prosperous period of economic expansion perhaps ever. People were able to make smart decisions and take advantage.

The person stretching his/her car payment via 80 month loans probably didn't achieve much during that expansion, because that's the person who's stretching themself thin financially instead of taking a long-term view of their finances. THAT is the problem, people who live beyond their means and then want to blame everyone else. Ironic that the author decided to use this as an example of who the "victim" in today's income gap is, when in reality that person has only themself to blame.

Now if that person is driving a 1990 honda civic and doing his/her best then fine, but I think we all know there are plenty of people out there in brand new M4s on a 96 month loan living way beyond their means that are then scratching their heads when they can't afford a down payment on a home.
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