Custoslibera@lemmy.world to Memes@lemmy.ml · 9 months agoDon't be fooled Billy, it's not really a job, more of a parasitic relationshiplemmy.worldimagemessage-square268fedilinkarrow-up11.2Karrow-down1127
arrow-up11.07Karrow-down1imageDon't be fooled Billy, it's not really a job, more of a parasitic relationshiplemmy.worldCustoslibera@lemmy.world to Memes@lemmy.ml · 9 months agomessage-square268fedilink
minus-squaredarq@kbin.sociallinkfedilinkarrow-up7·9 months agoIt literally is no problem if you already have assets to use as collateral. The problem is that most people don’t.
minus-squareKnightfox@lemmy.onelinkfedilinkarrow-up2·9 months agoThis is the answer, literally this is what millionaires have been doing for ages. It’s just unique that the COVID era interest rates were so low that it made it so that 100-thousand-aires could do what millionaires had already been doing.
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It literally is no problem if you already have assets to use as collateral. The problem is that most people don’t.
This is the answer, literally this is what millionaires have been doing for ages. It’s just unique that the COVID era interest rates were so low that it made it so that 100-thousand-aires could do what millionaires had already been doing.