Car Loan Quotes

That’s nice of you, but it’s not necessary to loan me a car.” “I loan you cars all the time.” “And I almost always destroy them or lose them. I have terrible luck with cars.” “Working at Rangeman is a high-stress job, and you’re one of our few sources of comic relief. I give you a car and my men start a pool on how long it will take you to trash it. You’re a line item in my budget under entertainment.

Debt is so ingrained into our culture that most Americans cannot even envision a car without a payment, a house without a mortgage, a student without a loan, and credit without a card. We

Damn me not I make a better fool. And there is nothing vaster, more beautiful, remote, unthinking (eternal rose-red sunrise on the surf—great rectitude of rocks) than man, inhuman man, At whom I look for a thousand light years from a seat near Scorpio, amazed and touched by his concern and pity for my plight, a simple star, Then trading shapes again. My wife is gone, my girl is gone, my books are loaned, my clothes are worn, I gave away a car; and all that happened years ago. Mind & matter, love & space are frail as foam on beer.

The only dream I ever had was the dream of New York itself, and for me, from the minute I touched down in this city, that was enough. It became the best teacher I ever had. If your mother is anything like mine, after all, there are a lot of important things she probably didn't teach you: how to use a vibrator; how to go to a loan shark and pull a loan at 17 percent that's due in thirty days; how to hire your first divorce attorney; what to look for in a doula (a birth coach) should you find yourself alone and pregnant. My mother never taught me how to date three people at the same time or how to interview a nanny or what to wear in an ashram in India or how to meditate. She also failed to mention crotchless underwear, how to make my first down payment on an apartment, the benefits of renting verses owning, and the difference between a slant-6 engine and a V-8 (in case I wanted to get a muscle car), not to mention how to employ a team of people to help me with my life, from trainers to hair colorists to nutritionists to shrinks. (Luckily, New York became one of many other moms I am to have in my lifetime.) So many mothers say they want their daughters to be independent, but what they really hope is that they'll find a well-compensated banker or lawyer and settle down between the ages of twenty-five and twenty-eight in Greenwich, Darien, or That Town, USA, to raise babies, do the grocery shopping, and work out in relative comfort for the rest of their lives. I know this because I employ their daughters. They raise us to think they want us to have careers, and they send us to college, but even they don't really believe women can be autonomous and take care of themselves.

THERE HAVE ALWAYS BEEN ITINERANTS, drifters, hobos, restless souls. But now, in the second millennium, a new kind of wandering tribe is emerging. People who never imagined being nomads are hitting the road. They’re giving up traditional houses and apartments to live in what some call “wheel estate”—vans, secondhand RVs, school buses, pickup campers, travel trailers, and plain old sedans. They are driving away from the impossible choices that face what used to be the middle class. Decisions like: Would you rather have food or dental work? Pay your mortgage or your electric bill? Make a car payment or buy medicine? Cover rent or student loans? Purchase warm clothes or gas for your commute? For many the answer seemed radical at first. You can’t give yourself a raise, but what about cutting your biggest expense? Trading a stick-and-brick domicile for life on wheels?

Money is finite. There is not an infinite supply. That’s something a lot of people have trouble remembering these days. In a time when crazy mortgages, car loans, student loans, and credit cards make you believe anyone can purchase anything at any time with no consequences, it’s easy to forget that money has limits.

Debt is so ingrained into our culture that most Americans cannot even envision a car without a payment, a house without a mortgage, a student without a loan, and credit without a card.

It all goes back to the red string of my imaginary kite—if you believe something, other people will believe it, too. You can’t convince someone else—whether it’s a potential employer, a loan officer at the car dealership, or someone you’ve been crushing on—that you’re amazing and terrific if you don’t actually think you are. This isn't the false confidence that comes from getting a bunch of "likes" on your Instagram selfies, but a deep-down, unshakeable self-confidence that persists even when things aren't going all that great.

Poetic Terrorism WEIRD DANCING IN ALL-NIGHT computer-banking lobbies. Unauthorized pyrotechnic displays. Land-art, earth-works as bizarre alien artifacts strewn in State Parks. Burglarize houses but instead of stealing, leave Poetic-Terrorist objects. Kidnap someone & make them happy. Pick someone at random & convince them they're the heir to an enormous, useless & amazing fortune--say 5000 square miles of Antarctica, or an aging circus elephant, or an orphanage in Bombay, or a collection of alchemical mss. ... Bolt up brass commemorative plaques in places (public or private) where you have experienced a revelation or had a particularly fulfilling sexual experience, etc. Go naked for a sign. Organize a strike in your school or workplace on the grounds that it does not satisfy your need for indolence & spiritual beauty. Graffiti-art loaned some grace to ugly subways & rigid public monuments--PT-art can also be created for public places: poems scrawled in courthouse lavatories, small fetishes abandoned in parks & restaurants, Xerox-art under windshield-wipers of parked cars, Big Character Slogans pasted on playground walls, anonymous letters mailed to random or chosen recipients (mail fraud), pirate radio transmissions, wet cement... The audience reaction or aesthetic-shock produced by PT ought to be at least as strong as the emotion of terror-- powerful disgust, sexual arousal, superstitious awe, sudden intuitive breakthrough, dada-esque angst--no matter whether the PT is aimed at one person or many, no matter whether it is "signed" or anonymous, if it does not change someone's life (aside from the artist) it fails. PT is an act in a Theater of Cruelty which has no stage, no rows of seats, no tickets & no walls. In order to work at all, PT must categorically be divorced from all conventional structures for art consumption (galleries, publications, media). Even the guerilla Situationist tactics of street theater are perhaps too well known & expected now. An exquisite seduction carried out not only in the cause of mutual satisfaction but also as a conscious act in a deliberately beautiful life--may be the ultimate PT. The PTerrorist behaves like a confidence-trickster whose aim is not money but CHANGE. Don't do PT for other artists, do it for people who will not realize (at least for a few moments) that what you have done is art. Avoid recognizable art-categories, avoid politics, don't stick around to argue, don't be sentimental; be ruthless, take risks, vandalize only what must be defaced, do something children will remember all their lives--but don't be spontaneous unless the PT Muse has possessed you. Dress up. Leave a false name. Be legendary. The best PT is against the law, but don't get caught. Art as crime; crime as art.

Would you rather have food or dental work? Pay your mortgage or your electric bill? Make a car payment or buy medicine? Cover rent or student loans? Purchase warm clothes or gas for your commute?

Some people will each start investing more of their salary on ‘their’ house and spending less of it on ‘their’ car or cars only when they start being able to take ‘their’ house to work, funerals, weddings, etc.

One of the most common root causes of our unhappiness is our desire to give people who will get to see the house we live in, and/or the car or cars we drive, an idea of how much we earn, earned, or were allowed to borrow.

In real markets, agents make bad choices. They are often ignorant, misinformed, and irrational. Yet, markets tend to punish agents for making bad choices, and they tend to learn from their mistakes. For instance, if you fail to pay your bills, your credit rating declines and you have a harder time getting loans. If you fail to do research and buy an unreliable car, you suffer from repair bills. In contrast, when people in government make bad choices, the political process almost never punishes them. Studies show that voters are terrible at retrospective voting—they do not know whom to blame for bad government—and so politicians are not punished for making bad choices.

Over the last decade, Ford has actually earned more money making loans than making cars.

On any given day, half of the subway cars smelled like urine, and attempting to get anywhere on time was nearly impossible. It was stressful to live in the city and I still hadn’t found my niche, but I had dreams. One day when I’d paid off my massive pile of student loans and was working for Vogue, I’d move to the Upper East Side and get to experience the city in a whole new light.

Like the nomads, millions of Americans are being forced to change their lives, even if the transformations are less outwardly radical. There are many ways to parse the challenge of survival. This month, will you skip meals? Go to the ER instead of your doctor? Postpone the credit card bills, hoping they won’t go to collections? Put off paying electric and gas charges, hoping the light and heat will stay on? Let the interest accumulate on student and car loans, hoping someday you’ll find a way to catch up? These indignities underscore a larger question: When do impossible choices start to tear people—a society—apart?

Only once did I make Shireen sit down with me for a formal interview. She talked about the need to rebuild what she called "the culture of resistance" that she remembered experiencing during the Second Intifada, but which had since evaporated, replaced by a dull consumerist individualism, by "this illusion that if I forget about Palestine, build a career, take a loan, buy a car, build a house, watch Arab Idol on TV, it's all be okay; that if they're not raiding *your* house, you're okay." In a culture constructed around a shared goal of liberation, she said, "my house is your house and your son is my son and if they kill me today they will kill you tomorrow." (103)

As a country, we take out loans and go to school. We take out loans and buy a car. We take out loans and buy a home. It's not always that we simply "want" these things. Rather, it's often the case that we use our obligations as confirmations that "We're doing something." If we have things to pay for, we need a job. If we have a job, we need a car. If we have such things, we have a life, albeit an ordinary and monotonous life, but a life no less. If we have debt, we have a goal-- we have a reason to get out of bed in the morning. Debt narrows our options. It gives us a good reason to stick it out at a job, sink into sofas, and savor the comforts of the status quo. Debt is sought so we have a game to play, a battle to fight, a mythology to live out. It gives us a script to read, rules to abide by, instructions to follow. And when we see someone who doesn't play by our rules-- someone who's spurned the comforts of hearth and home-- we shift in our chairs and call him or her crazy. We feel a fury for the hobo and the hitchhiker, the hippie and gypsy, the vagrant and nomad-- not because we have any reason to believe these people will do us any harm, but because they make us feel uncomfortable.They remind us of the inner longings we've squelched, the hero or heroine we've buried beneath a houseful of junk, the spirit we've exorcised out of ourselves so we could remain with our feet on the ground, stable and secure.

In general, men should only be doing dinner dates once she proves herself worthwhile after some coffee or cocktail dates. Under no circumstances should a man pay for a woman's debt, be that credit cards or student loans. Under no circumstances should a man help with a woman's rent or car payment. And you absolutely never donate money to an e-thot for any reason. But if there's a nice girl you've met for coffee before, and she is sincere, paying for dinner and a movie isn't bad.

In this march through a virtual lifetime, we’ve visited school and college, the courts and the workplace, even the voting booth. Along the way, we’ve witnessed the destruction caused by WMDs. Promising efficiency and fairness, they distort higher education, drive up debt, spur mass incarceration, pummel the poor at nearly every juncture, and undermine democracy. It might seem like the logical response is to disarm these weapons, one by one. The problem is that they’re feeding on each other. Poor people are more likely to have bad credit and live in high-crime neighborhoods, surrounded by other poor people. Once the dark universe of WMDs digests that data, it showers them with predatory ads for subprime loans or for-profit schools. It sends more police to arrest them, and when they’re convicted it sentences them to longer terms. This data feeds into other WMDs, which score the same people as high risks or easy targets and proceed to block them from jobs, while jacking up their rates for mortgages, car loans, and every kind of insurance imaginable. This drives their credit rating down further, creating nothing less than a death spiral of modeling. Being poor in a world of WMDs is getting more and more dangerous and expensive.

When we talk about building wealth, we ought to refer to one’s entire net worth, meaning the sum of savings and total assets, minus all debt. If you have $50,000 in your TSP and in other savings accounts, but owe $50,000 on credit cards, a car or two, and student loans, have you really built up any “wealth”? While you have saved up a tidy sum in the TSP and in savings accounts, since you owe so much to creditors, your total net worth in this scenario is actually zero.* Consider also that, instead of receiving interest and dividend payments in the TSP, each of your debts is charging you interest—and in many cases considerable interest.

It is easy for those of us who have enough, living a secure life, structured by goals that we can reasonably confidently aspire to achieve (that new sofa, the 50-inch flat screen, that second car) and institutions designed to help us get there (savings accounts, pension programs, home-equity loans) to assume, like the Victorians, that motivation and discipline are intrinsic. As a result, there are always worries about being overindulgent to the slothful poor. Our contention is that for the most part, the problem is the opposite: It is too hard to stay motivated when everything you want looks impossibly far away. Moving the goalposts closer may be just what the poor need to start running toward them.

He let out a breath. "How old are you?" he asked, fearful of the answer. "Twenty-five." She gave him a wry smile. "And since you yelled it at Heather, I know you're 'forty fucking years old'." He would have laughed, but he couldn't breathe. Jesus, he'd known she was young, but hearing her actual age..."That's fifteen years." "I can do the math, but you know what else? I'm legal. I can drink. I have decent car insurance since I hit the quarter century mark, and I own this house." she paused. "Well the bank owns most of it, but I qualified for a loan and everything since I have decent credit." Her nose wrinkled. "I'm getting off subject. If the age difference truly bothers you, then I will see you at the shop to finish your tattoo. No hard feelings." He growled softly. Well, something was hard, and it wasn't his feelings.

crimes at Ravensbrück and her early release, complete with German postage. Three maps, a list of approved gas stations at which to purchase fuel, and detailed travel instructions. A note apologizing for only being able to obtain one set of travel papers, and a whole package of Fig Newton cookies. I tossed the box in my suitcase and clicked the locks. Pietrik stirred in the next room. I froze for a second. Should I leave a note? I scribbled a quick goodbye on the paper from Caroline’s package and made my way down the stairs to the old turquoise car Papa loaned me now and then, the one Pietrik had kept alive for years. As Papa said, that car had more rust on it than paint, but it got us wherever we needed to go. At first, I fretted as I drove. What if it really was Herta? Would she hurt me? Would I hurt her? My head cleared a bit once I was under way, one of the few drivers on the road that early. I spread a map and the

The math is revealing. The typical American with a $50,000 annual income would normally have an $850 house payment and a $495 car payment, with an additional $180 payment on the second car. Then there is a $165 student-loan payment; and the average credit-card debt is about $12,000, making those monthly payments around $185 per month. Also, this typical household will have other miscellaneous debt on things like furniture, stereos, or personal loans on which they pay an additional $120. All these payments total $1,995 per month. If this family were to invest that instead of sending it to the creditors, they would be cash mutual-fund millionaires in just fifteen years! (After fifteen years, it gets really exciting. They’ll have $2 million in five more years, $3 million in three more years, $4 million in two and a half more years, and $5.5 million in two more years. So they will have $5.5 million after twenty-eight years.) Keep in mind, this is with an average income, which means many of you make more than this!

This is your opportunity! The Zed, shine your eyes! They call it a big-big name, evaluation consulting, but it is not difficult. You undervalue the properties and make sure it looks as if you are following due process. You acquire the property, sell off half to pay your purchase price, and you are in business! You’ll register your own company. Next thing, you’ll build a house in Lekki and buy some cars and ask our hometown to give you some titles and your friends to put congratulatory messages in the newspapers for you and before you know, any bank you walk into, they will want to package a loan immediately and give it to you, because they think you no longer need the money! And after you register your own company, you must find a white man. Find one of your white friends in England. Tell everybody he is your General Manager. You will see how doors will open for you because you have an oyinbo General Manager. Even Chief has some white men that he brings in for show when he needs them. That is how Nigeria works. I’m telling you.

Then, in 1950, Andy became something more than a model prisoner. In 1950, he became a valuable commodity, a murderer who did tax-returns better than H & R Block. He gave gratis estate-planning advice, set up tax-shelters, filled out loan applications (sometimes creatively). I can remember him sitting behind his desk in the library, patiently going over a car-loan agreement paragraph by paragraph with a screwhead who wanted to buy a used DeSoto, telling the guy what was good about the agreement and what was bad about it, explaining to him that it was possible to shop for a loan and not get hit quite so bad, steering him away from the finance companies, which in those days were sometimes little better than legal loan-sharks. When he’d finished, the screwhead started to put out his hand . . . and then drew it back to himself quickly. He’d forgotten for a moment, you see, that he was dealing with a mascot, not a man. Andy kept up on the tax laws and the changes in the stock market, and so his usefulness didn’t end after he’d been in cold storage for awhile, as it might have done. He began to get his library money, his running war with the sisters had ended, and nobody tossed his cell very hard. He was a good nigger.

The math is revealing. The typical American with a $50,000 annual income would normally have an $850 house payment and a $495 car payment, with an additional $180 payment on the second car. Then there is a $165 student-loan payment; and the average credit-card debt is about $12,000, making those monthly payments around $185 per month. Also, this typical household will have other miscellaneous debt on things like furniture, stereos, or personal loans on which they pay an additional $120. All these payments total $1,995 per month. If this family were to invest that instead of sending it to the creditors, they would be cash mutual-fund millionaires in just fifteen years! (After fifteen years, it gets really exciting. They’ll have $2 million in five more years, $3 million in three more years, $4 million in two and a half more years, and $5.5 million in two more years. So they will have $5.5 million after twenty-eight years.) Keep in mind, this is with an average income, which means many of you make more than this! If you are thinking that you don’t have that many payments so your math won’t work, you missed the point. If you make $50,000 and have fewer payments, you have a head start, since you already have more control of your income than most people.

Collateral Capacity or Net Worth? If young Bill Gates had knocked on your door asking you to invest $10,000 in his new company, Microsoft, could you get your hands on the money? Collateral capacity is access to capital. Your net worth is irrelevant if you can’t access any of the money. Collateral capacity is my favorite wealth concept. It’s almost like having a Golden Goose! Collateral can help a borrower secure loans. It gives the lender the assurance that if the borrower defaults on the loan, the lender can repossess the collateral. For example, car loans are secured by cars, and mortgages are secured by homes. Your collateral capacity helps you to avoid or minimize unnecessary wealth transfers where possible, and accumulate an increasing pool of capital providing accessibility, control and uninterrupted compounding. It is the amount of money that you can access through collateralizing a loan against your money, allowing your money to continue earning interest and working for you. It’s very important to understand that accessibility, control and uninterrupted compounding are the key components of collateral capacity. It’s one thing to look good on paper, but when times get tough, assets that you can’t touch or can’t convert easily to cash, will do you little good. Three things affect your collateral capacity: ① The first is contributions into savings and investment accounts that you can access. It would be wise to keep feeding your Golden Goose. Often the lure of higher return potential also brings with it lack of liquidity. Make sure you maintain a good balance between long-term accounts and accounts that provide immediate liquidity and access. ② Second is the growth on the money from interest earned on the money you have in your account. Some assets earn compound interest and grow every year. Others either appreciate or depreciate. Some accounts could be worth a great deal but you have to sell or close them to access the money. That would be like killing your Golden Goose. Having access to money to make it through downtimes is an important factor in sustaining long-term growth. ③ Third is the reduction of any liens you may have against these accounts. As you pay off liens against your collateral positions, your collateral capacity will increase allowing you to access more capital in the future. The goose never quit laying golden eggs – uninterrupted compounding. Years ago, shortly after starting my first business, I laughed at a banker that told me I needed at least $25,000 in my business account in order to borrow $10,000. My business owner friends thought that was ridiculously funny too. We didn’t understand collateral capacity and quite a few other things about money.

A couple is invited to a swanky masked Halloween party but she gets a terrible headache and tells him to go to the party alone. Being a devoted husband, he protests, but she insists that she is going to take some aspirin and go to bed, and there is no reason he shouldn’t go ahead and have a good time. So he takes his costume and off he goes. The wife, after sleeping soundly for one hour, awakens without pain and decides to go to the party after all. Since her husband won’t recognize her in her costume, she thinks she might have some fun watching him in secret. She soon spots her husband cavorting on the dance floor, dancing with every pretty girl he can, copping a little feel here and a little kiss there. Being a rather seductive babe herself, the wife ventures onto the dance floor to entice her own husband away from his current partner. She lets him go as far as he wishes, naturally, since he is, after all, her husband. Finally he whispers a little proposition in her ear and she agrees. Off they go to his parked car for a little bang. Just before midnight, when the party guests are planning to unmask and reveal their identities, she slips away, goes home, stashes her costume, and gets into bed, wondering what his husband will report about the evening. She is sitting up reading when he comes in. “How was it?” she asks, nonchalantly. “Oh, the same old thing. You know I never have a good time when you’re not there.” “Did you dance much?” “I never even danced one dance. When I got there I met Pete, Bill Brown, and some other guys, so we went into the den and played poker all evening. But I’ll tell you... the guy I loaned my costume to sure had a real good time!

Sam was about to travel to Asia with her boyfriend and she was fretting about what her backers would think if she released some of her new songs while she was 'on vacation'. She was worried that posting pictures of herself sipping a Mai Tai was going to make her look like an asshole. What does it matter? I asked her, where you are whether you're drinking a coffee, a Mai Tai or a bottle of water? I mean, aren't they paying for your songs so that you can... live? Doesn't living include wandering and collecting emotions and drinking a Mai Tai, not just sitting in a room writing songs without ever leaving the house? I told Sam about another songwriter friend of mine, Kim Boekbinder, who runs her own direct support website through which her fans pay her monthly at levels from $5 to $1,000. She also has a running online wishlist of musical gear and costumes kindof like a wedding registry, to which her fans can contribute money anytime they want. Kim had told me a few days before that she doesn't mind charging her backers during what she calls her 'staring at the wall time'. She thinks this is essential before she can write a new batch of songs. And her fans don't complain, they trust her process. These are new forms of patronage, there are no rules and it's messy, the artists and the patrons they are making the rules as they go along, but whether these artists are using crowdfunding (which is basically, front me some money so I can make a thing) or subscription services (which is more like pay me some money every month so that I can make things) or Patreon, which is like pay per piece of content pledge service (that basically means pay me some money every time I make a thing). It doesn't matter, the fundamental building block of all of these relationships boils down to the same simple thing: trust. If you're asking your fans to support you, the artist, it shouldn't matter what your choices are, as long as you're delivering your side of the bargain. You may be spending the money on guitar picks, Mai Tais, baby formula, college loans, gas for the car or coffee to fuel your all-night writing sessions. As long as art is coming out the other side, and you're making your patrons happy, the money you need to live (and need to live is hard to define) is almost indistinguishable from the money you need to make art. ... (6:06:57) ... When she posts a photo of herself in a vintage dress that she just bought, no one scolds her for spending money on something other than effects pedals. It's not like her fan's money is an allowance with nosy and critical strings attached, it's a gift in the form of money in exchange for her gift, in the form of music. The relative values are... messy. But if we accept the messiness we're all okay. If Beck needs to moisturize his cuticles with truffle oil in order to play guitar tracks on his crowdfunded record, I don't care that the money I fronted him isn't going towards two turntables or a microphone; just as long as the art gets made, I get the album and Beck doesn't die in the process.

Your committee is satisfied from the proofs submitted ... that there is an established and well defined identity and community of interest between a few leaders of finance ... which has resulted in great and rapidly growing concentration of the control of money and credit in the hands of these few men.... Under our system of issuing and distributing corporate securities the investing public does not buy directly from the corporation. The securities travel from the issuing house through middlemen to the investor. It is only the great banks or bankers with access to the mainsprings of the concentrated resources made up of other people's money, in the banks, trust companies, and life insurance companies, and with control of the machinery for creating markets and distributing securities, who have had the power to underwrite or guarantee the sale of large-scale security issues. The men who through their control over the funds of our railroad and industrial companies are able to direct where such funds shall be kept, and thus to create these great reservoirs of the people's money are the ones who are in a position to tap those reservoirs for the ventures in which they are interested and to prevent their being tapped for purposes which they do not approve.... When we consider, also, in this connection that into these reservoirs of money and credit there flow a large part of the reserves of the banks of the country, that they are also the agents and correspondents of the out-of-town banks in the loaning of their surplus funds in the only public money market of the country, and that a small group of men and their partners and associates have now further strengthened their hold upon the resources of these institutions by acquiring large stock holdings therein, by representation on their boards and through valuable patronage, we begin to realize something of the extent to which this practical and effective domination and control over our greatest financial, railroad and industrial corporations has developed, largely within the past five years, and that it is fraught with peril to the welfare of the country.3 Such was the nature of the wealth and power represented by those six men who gathered in secret that night and travelled in the luxury of Senator Aldrich's private car.

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Zero Line Spender, Saver, Wealth Creator Your financial personality type determines your financial position in life. Let’s say there is a zero financial line that represents a position where you owe nothing and have nothing. Perhaps you can remember those days getting started on your own. So, let us assume you just graduated from college and you’re one of the lucky few who graduated at the zero line, you owe nothing. Pretty amazing considering that in 2013, the debt on student loans exceeded all credit card debt owed in America. But fortunately, you made it out free and clear to the zero line. You’re a “Spender” so you go to the showroom and pick one out. With your job and the car as collateral, you get a car loan and you drop below the zero line. You lifestyle gets more and more expensive and since you are a ‘Spender” you probably take on credit card debt to help finance your lifestyle desires. You are constantly working your way back to becoming a zero, financially speaking. Then, you get married and now there are two in debt working their way back to zero. Eventually, children come along, and the odds of being able to put away enough money to pay your debt and interest and live on the top side of the zero line are becoming virtually impossible. Unfortunately, many Americans live in this position with little or no chance of ever living debt free. When something comes along that requires their savings, they must deplete their funds in order to avoid paying interest and then they must start saving again for their next expense. They are constantly returning to the zero line. The money they have accumulated is compounding interest, giving them uninterrupted growth. Having access to capital allows them to negotiate more favorable loans by collateralizing against their accounts rather than depleting them. They make payments to the lending institution with dollars from their current cash flow, protecting the growth of the money they have saved and invested for their future. Saving and investing with uninterrupted compounding is an important wealth concept for moving further and further away from the zero line.

He’d told me, back when we first met, that I was the embodiment of everything he wished he could be. Setting out in a car by myself, working my way through school, self-made. But as I’d told him back then, you have to come from nothing to have that chance. You have to pay your debts. “Yeah, well, I have ten years’ worth of loans,” I’d said. Sometimes I wondered if, when we got married, he would pay them off. If that would make me a different person. If he’d like me quite as much.

Bill Clinton's political formula for seizing the presidency was simple. He made money tight in the ghettos and let it flow free on Wall Street. He showered the projects with cops and bean counters and pulled the ops off the beat in the financial services sector. And in one place he created vast new mountain ranges of paperwork, while in another paperwork simply vanished. After Clinton, just to get food stamps to buy potatoes and flour, you suddenly had to hand in a detailed financial history dating back years, submit to wholesale invasions of privacy, and give in to a range of humiliating conditions. Meanwhile banks in the 1990s were increasingly encouraged to lend and speculate without filing out any paperwork at all, and eventually borrowers were freed of the burden of even having to show proof of income when they took out mortgages or car loans.

After earning a degree in Marketing at Auburn University, I spent the next five years in the business world, which is a polite way of saying that I had eleven jobs in a five-year period, including door to door sales, skip tracing people who didn’t want to be found, repossessing cars and collecting on defaulted student loans. During this five-year period, I did an in-depth study of abnormal psychology and sociopathic behavior – and then I divorced him.

The average new American home now has more bathrooms than occupants. Nearly half have four or more bedrooms, up from 18% in 1983. The average car loan adjusted for inflation more than doubled between 1975 and 2003, from $12,300 to $27,900. And you know what happened to college costs and student loans. Household debt-to-income stayed about flat from 1963 to 1973. Then it climbed, and climbed, and climbed, from around 60% in 1973 to more than 130% by 2007.

At Loan Corp, we have invested in slick tech-based systems to ensure a seamless journey for our customers. From consumer finance such as mortgages, remortgages, secured loans, banks, credit cars and insurance, we API directly into our top-tier lenders that match your requirements. Our commercial offerings are bridging loans, auction finance, development loans, loans to buy land and all aspects of commercial finance. Offering short- and long-term business loans in the UK from a wide range of products such as invoice finance, cash flow loans and even small business loans for bad credit.

...People had been predicting the death of the city for years. Would that finally drive all the people out of this sinking island? I imagined office buildings filled with screeches instead of conference calls and streets clogged with weeds instead of cars. I could see the appeal. It wasn't like a scorpion was going to charge me 10 percent interest on a medical loan for an upgrade I needed to live. Venom was quick, capitalism killed you nice and slow. Then sent you a bill.

My salary increased from $30,000 per year to $50,000, which, after taxes and student loan and car payments, came to forty dollars.

Everyone needs a skilled mechanic or plumber or electrician they can count on. Over in Germany, they respect blue-collar jobs and sixty percent of their high school graduates choose vocational training. But here in America, our public high schools continue to cut vocational training from curriculums. We look down on blue collar work and push every high school student toward college. One third of all college students drop out entirely without a degree and burdened with student loan debt. Yet there is a growing shortage of skilled labor and millions of jobs going unfilled. Who are you going to call if a pipe bursts in your house or your daughter’s car breaks down on the side of the road? That’s why I believe vocational training is important.

This is because in places like Greece, Spain and southern Italy, private indebtedness was extremely low. People were of course poorer than Northern Europeans, lived in humbler homes, drove older cars and so on, but nevertheless they owned their homes outright, had no car loan and, generally, displayed the deep-seated aversion to debt that recent memories of poverty engender.

The Financial Priority List Starter emergency fund (three months of living expenses in a high-yield savings account). 1.5.  If your employer matches your contributions to a 401(k) or 403(b) retirement savings account, pay in as much as you can. Pay down high-interest debt (anything with interest over 7 percent). Invest for retirement while also paying off lower-cost debt (again, any debt racking up less than 7 percent in interest, such as most student and car loans, mortgages, and so forth). Save for the Big Life Stuff.

I read a joke somewhere about how Bollywood movies exaggerating about people getting heart attacks as a result of being humiliated was nonsense, because if that were the case, then everyone working in toxic jobs would get one every week. Reading that “joke” actually made me pretty sad about the kind of lives many are being forced to lead. Obviously, people will say they have no choice. Because they need to put food on the table. This is a valid reason. But it’s not just food but also expensive clothes, gadgets, jewelery and accessories. And they need expensive furniture in an expensive house. And then they need an expensive car outside, or maybe two. The more the better The best part, they buy almost all of that using bank loans. Congratulations, now you are a slave till every single one of your debts is paid off, which is probably the next 30 years. Now you just need to choose whom you prefer to make your life hell - Your toxic workplace or the "friendly" people from the collection agency when you default on the loan? What a beautiful life indeed!

Instead he said, “Naked I came from my mother’s womb, and naked I shall return there . . . Blessed be the Name of the LORD” (Job 1:21). That says it all. At birth we all arrived naked. At death we will all leave naked, as we’re prepared for burial. We have nothing as we are birthed; we have nothing as we depart. So everything we have in between is provided for us by the Giver of Life. Get that clearly in your mind. Get it, affluent Americans as we are. Get it when you stroll through your house and see all those wonderful belongings. Get it when you open the door and slip behind the steering wheel of your car. It’s all on loan, every bit of it. Get it when the business falls and fails. It, too, was on loan. When the stocks rise, all that profit is on loan. Face it squarely. You and I arrived in a tiny, naked body (and a not a great-looking one at that!). And what will we have when we depart? A naked body plus a lot of wrinkles. You take nothing because you brought nothing! You own nothing. What a grand revelation. Are you ready to accept it? You don’t even own your children. They’re God’s children, on loan for you to take care of, rear, nurture, love, discipline, encourage, affirm, and then release.

To hell with the issues. I have a wife and three kids, a mortgage and a car loan; they’re my issues. I’ve fought my way up to regional sales manager and I have a shot at national sales director in a few years’ time. I’ve worked my socks off for this and no one’s going to take it away from me: not rioting Negroes, not drug-taking hippies, not Communists working for Moscow, and certainly not a softhearted liberal like Hubert Humphrey. I don’t care what you say about Nixon, he stands for people like me.” At that moment Dave felt, with an overwhelming sense of impending doom, that Nixon was going to win.

CHOOSING CONTENTMENT All that we have comes from God: our spouses, children, families, friends and jobs. That includes our houses, property, furnishings, cars, clothes, family heirlooms and all other personal belongings. God gives us these good gifts for our use and enjoyment. There is nothing wrong with these things, but sometimes our attitudes toward our things can cause problems for us. Throughout history, people have had the desire to get more stuff. But in our culture today, the media shows us how much we don’t have. Because we are exposed to people in different social standings, we can compare what we have to what others have. In previous generations, people compared what they had with their family or neighbors (who probably had similar things); today we have TV shows that portray the lives and belongings of the megarich. When we begin to focus on what others have, we become obsessed with material things. We are tempted to live beyond our means. We become stressed as we work harder and longer in order to buy more stuff. It is easy to wonder why others have more than we do, especially if we’re struggling to keep up with payments on our house, cars and loans. We say, “Other people are just like us, but they have so much more than we do. It’s not fair! Why doesn’t God bless us like he does them? Why should we always have money problems?” Maybe we become upset with our spouse and insist that we should do better than we are doing, or that our children should have the same opportunities that other children have. Jealousy, anger and ambition can eat away at a marriage when we think we should have more than we do. But the stuff we want may not be what God has allotted to us. He has promised that he will provide all that we need but not necessarily all that we want. So one tough spiritual lesson we need to learn as married couples is to shape our wants to match God’s allotment, not the other way around, and to choose, like Paul, to be content whatever our circumstances (see Philippians 4:11). Finding contentment with God’s allotment to us helps ease the stress of getting and spending. It lightens the load of acquiring more and more. And it may help us to grow together as a couple as we learn to enjoy each other’s company without the pressure of reaching for bigger and better toys, vacations, houses or recreational vehicles. When we begin to treasure each other, our hearts will be there also.

An interest rate is the cost of borrowing or the price paid for the rental of funds (usually expressed as a percentage of the rental of $100 per year). Many types of interest rates are found in the economy—mortgage interest rates, car loan rates, and interest rates on many different types of bonds.

In his first two years in the White House, Obama accomplished more than any president since LBJ. Not only did he staunch the bleeding of an economy on the brink of disaster and pass health care reform, but he also saved the American auto industry, passed landmark Wall Street reform, raised fuel efficiency standards in cars and trucks, struck down the ban on gays in the military, expanded college aid and reformed student loans, paved the way for new clean energy sources, and passed the Lilly Ledbetter Law to combat pay discrimination against women. He also began to make good on ending America’s longest-running wars, negotiated a new arms control treaty, and rallied the world behind withering sanctions that would bring Iran to

In his first two years in the White House, Obama accomplished more than any president since LBJ. Not only did he staunch the bleeding of an economy on the brink of disaster and pass health care reform, but he also saved the American auto industry, passed landmark Wall Street reform, raised fuel efficiency standards in cars and trucks, struck down the ban on gays in the military, expanded college aid and reformed student loans, paved the way for new clean energy sources, and passed the Lilly Ledbetter Law to

I think many of your countrymen are. Your culture puts too much pressure on people to succeed. Growing up, you all believe you will become astronauts or movie stars or millionaires. Ninety-nine percent of your citizens over the age of forty are brokenhearted because, deep down, they feel their life is a failure. The only thing that keeps them sane is that almost everyone they know is also a failure. So they get married and take out loans to buy a house and a nice car. Then they have children and spend the rest of their lives pretending that it will be their children who live the American dream. Then, if they live long enough to see their children fail, their hope turns to their grandchildren. That’s why they call it the American dream instead of the American reality.

Hannah tells me that you helped protect her from the Hispanics during the riot.” “The Hispanics? Oh, the protest, right.” “Call it what you like, son. This place was crawling with spics, and I am grateful that you took care of my only child.” “Well,” I shrugged. “I guess that’s what boyfriends do.” Spics?? “Only good boyfriends,” Hannah said, still tightly holding my left hand. I could never predict when she’d pour on the affection and when she’d act distant. Were all girlfriends this complicated? “I helped pass that law, you understand,” Mr. Walker said. “I’m an advisor to the senator, and it’s about time someone notable, someone of prestige, took a stand on the influx of hispanics into our once great city. The Hispanics were rioting because of that law, because they’re afraid of justice.” “Oh yeah?” I said. I knew nothing about politics or laws. But I had a feeling I disagreed with him. “But I’ll discontinue this tangent before I begin to preach,” he smiled. “Hannah is giving me the warning look.” “Thank you, Daddy,” Hannah said. “The spics destroyed your car,” he said. “Hannah informed me, and then I read the report in the newspaper.” “That was a good car,” I nodded. “I will miss it.” “Well, let me see what I can do to help,” he said. “I’m a financial consultant to many of our nation’s finest automobile manufacturers, including Mission Motorcycles. You have heard of them?” “I don’t know much about any cars. Or motorcycles,” I admitted. “Well, it just so happens, they owed me a favor and agreed to give me a short-term loan on one of their new electric bikes,” he said. And it was then that I realized we were standing beside a gleaming black, silver, and orange motorcycle. I hadn’t noticed before because our school parking lot always looks like a luxury car showcase, and I’d grown numb to the opulence. A sleek black helmet hung from each handle. Mr. Walker placed his palm on the seat and said, “This bike is yours. Until you get a new car.” “Wow,” I breathed. A motorcycle!! “Isn’t it sexy?” Hannah smiled. “It looks like it’s from the future.” “It does,” I agreed. “I’m almost afraid to touch it, like it’ll fly off. But sir, there’s no way…” “Please don’t be so ungrateful as to refuse, son. That’s low class, and that’s not the Walkers. You are in elite company. Dating my daughter has advantages, as I’m sure she’s told you. You just keep performing on the football field.” “Oh…right,” I said. “I’m gratified I can help,” Mr. Walker said and shook my hand again. “I’m expecting big things from you. Don’t let me down. It’s electric, so you’ll need to charge it at night. Fill out the paperwork in the storage compartment and return them signed to Hannah tomorrow. If you wreck it, I’ll have you drowned off Long Beach. I wish I could stay, but I’m late for a meeting with the Board of Supervisors. Hannah, tell your mother I’ll be out late,” he said and got into the back seat of a black sedan that whisked him away.

I also seem to recall that whatever my job was, I wasn’t very good at it. I felt like I was staring down the barrel of a gun and I didn’t like what I saw at the end of it: a loan for a car, a mortgage for a flat, weekly shopping, trips to the cinema and living for the weekends. They were all metaphors for a set of handcuffs, chaining me to the monotony of a job I hated,

We didn’t have jobs, not in any real sense—jobs were a myth, a rumor—so we held on in grad school, semester after semester, for lack of anything better to do. We got financial aid, of course, and accrued debt on our student loans. Our car, a hand-me-down from Mallory’s mother, needed tires and probably everything else into the bargain. We wrote papers, graded papers, got A’s and B’s in the courses we took, and doled out A’s and B’s in the courses we taught. Sometimes we felt as if we were actually getting somewhere, but the truth was, like most people, we were just marking time.

2014 Andy’s Email   My dearest Young,               How are you, kid? Thanks for the password to Turpitude. It brought smiles to my face when I saw the photos you posted with each chapter. We were so young. I barely recognize myself. I remember the hippie commune and a couple of key events from our week at this out-of-nowhere place.               To be honest, I was thrilled to spend a couple of nights at that charming Barcelona hotel (I can’t remember its name) after Lorenzo loaned us his car. As much as I love the beauty of Andorra, I’m not one for communal living. I prefer my privacy when on vacation.               As much as I enjoyed the company of the residents in the commune, I didn’t care for a couple of the guys, especially the Swede. He kept writhing into your pants the entire time. I loathed his arrogance and the way he lusted after you. I knew he was up to no good the first time we met.               The highlight of our holiday was the Vivaldi concert at the Basilica and Expiatory Church of the Holy Family. That afternoon, when you had a bout of your external detachment, I was in a state of panic. During those early years, I couldn’t understand your ‘out-of-body’ experiences. I wasn’t sure if you feigned your fainting spells or if you actually lost consciousness. The only thing I was sure of was that I needed to be there for you when you awoke. There were times I thought you would never wake, and I would never be able to forgive myself. That, Young, was how enamored I was with you. Boy oh boy, you were a handful. Need I say more…?☺ Love, Andy.

Most will do what’s comfortable because, let’s face it, we all like guarantees. Working a draining 9-to-5 will guarantee that your rent is paid on time, it’ll guarantee that your loans will be taken care of, it’ll guarantee you three square meals every night of the week. What if you broke down an entire lifetime of guarantees and found that your most prized moments consisted of standard, fragmented memories; high school dances, learning how to drive a car, graduating college… It’s almost as if you stopped living life the moment your education ended, the moment it was time to ‘grow up’ and ‘get a real job.

H. Srikrishnan, then head of transactional banking and operations, gave me an example, ‘We looked at funds transfer—which was manual—such as MTs (mail transfers) and TTs (telegraphic transfers). When we implemented a centralized banking solution, the key things we could do were to sweep across multiple locations and get the balances of customers or transfer funds from one location to another using core banking. Those were big problems we solved.’ HDFC Bank was thus the first among Indian banks to have a centralized system. Whilst foreign banks like Citibank had centralized systems, they lacked the branch strength to fully leverage them. It is worth remembering that in the mid-1990s, banking didn’t really exist in the form that we know of today. Customers could open bank accounts, but the whole gamut of products (home loan, car loan, etc.) and services (Internet banking) was just not available. Salaries would still be paid by cheque and employees would have to take time off from their jobs to go to the bank, write a deposit slip, hand it over to the teller and then wait for the cheque to get cleared. Also, the employer would have to take time off to sit and sign numerous salary cheques to be given to all the employees. Compare this to the instant, online credit of salary today and a notification by SMS and email at the end of every month! HDFC Bank’s centralized technology platform allowed it to kick-off a revolution in how employees were paid their salaries.

Somewhere during the twelve-hour flight, one of them realized that although they couldn’t get a business loan, they could probably get a car loan. Bruce proceeded to do just that, borrowing $17,000 for a car and then investing the funds in the business with Emma instead. They paid back the car loan within ten months, and the bank never found out that there was no actual car.

We always stand to gain, whether it be an influential politician to further our interests — which is the most frequent and almost easiest case to fabricate — or a great businessman, most of whose money we administer through our own networks. It is therefore our interest to create as many such ‘vicious circles’ as possible. And it is on this foundation that we have built modern society and the so-called ‘cell of society,’ that is, the family which we have chained to an infinite set of dependences: jobs, houses, comfort, cars, bank loans, and long-term contractual obligations that sometimes extend over one or two generations of the respective family. The role of a ‘vicious circle’ is to make people dependent because, when this happens, they are no longer free. 

Most Americans could retire on what they waste on car loans.

And so did the French legal system back in 1896, when Armand Peugeot, who had inherited from his parents a metalworking shop that produced springs, saws and bicycles, decided to go into the automobile business. To that end, he set up a limited liability company. He named the company after himself, but it was independent of him. If one of the cars broke down, the buyer could sue Peugeot, but not Armand Peugeot. If the company borrowed millions of francs and then went bust, Armand Peugeot did not owe its creditors a single franc. The loan, after all, had been given to Peugeot, the company, not to Armand Peugeot, the Homo sapiens. Armand Peugeot died in 1915. Peugeot, the company, is still alive and well.

Debt is so ingrained into our culture that most Americans cannot even envision a car without a payment, a house without a mortgage, a student without a loan, and credit without a card. We have been sold debt with such repetition and with such fervor that most folks cannot conceive what it would be like to have no payments. Just as slaves born into slavery can’t visualize freedom, we Americans don’t know what it would be like to wake up to no debt. Literally billions of credit-card offers hit our mailboxes and in-boxes every year, and we are taking advantage of those offers. Americans currently have around $900 billion in credit-card debt. We can’t do without debt—or can we?

Up-front investment to try to professionalize the supply side early on in a network’s development inevitably comes with risk. In a well-publicized misstep for Uber, the company sought to expand its supply side by financing vehicles to provide cars to potential drivers who didn’t own vehicles, a program called XChange Leasing. The hypothesis was that this should push these drivers into power-driver territory quickly. Payments could be automatically deducted from their Uber earnings, and their driver ratings and trip data could be used to underwrite the loans. XChange Leasing unfortunately lost $525 million and failed to professionalize the driver side of the market. The problem was, it attracted drivers highly motivated by money—usually a positive—but who didn’t have high credit scores for good reason. They often failed to make payments, using their Uber-provided car to drive for competitors and avoid the automatic deductions. They would steal the cars and sell them for, say, half price. They would drive for Lyft instead of Uber, as a way to avoid the automatic payment deductions—they would try to have their cake and eat it, too. Uber needed to organize a massive repossession effort to get the cars back, but it was too late—many had been sold illegally, some finding themselves as far away as Iraq and Afghanistan, GPS devices still attached and running. This is a colorful example of how scaling the supply side, when a lot of capital is involved, can be tricky.

exhaustion make a significant impact on the workforce. Western workers find themselves working as much overtime as possible to pay off debts, match earnings with outgoing daily expenses, pay monthly rents/mortgage, student loans, car bill and credit card debts. Certain corporations will employ young citizens for days or weeks, on trial for a job, without paying them any salary, with the excuse of giving them “work experience.” Young people believe that working in a coffee shop, store or office will help them get a job. They are there serving as free or cheap labour. Corporations influence legislation. Major corporations endorse lower taxation to make themselves better off and to get people to spend more rather than pay taxes for the welfare and support of the poor. The corporate world enjoys major tax breaks for the wealthy. Some of the superrich use tax havens worldwide

The China-bound Bushes, for instance, loaned the Rumsfelds a car, a purple AMC Gremlin with denim seats, in 1974–75.)

Instead of hiding bodies in mass graves, corpses were triumphantly displayed, as when the Jalisco New Generation (while still part of El Chapo’s Sinaloa cartel) dumped the thirty-five bodies on an avenue in Veracruz in September 2011. In reply, the Zetas scattered twenty-six corpses in Jalisco and a dozen in Sinaloa. On closer inspection, the bodies were those of ordinary citizens, not criminals: they were workers and students who had been abducted and murdered and displayed in order to strike fear in the heart of anyone who doubted the murderous resolve of the Zetas... In To Die in Mexico: Dispatches from Inside the Drug War, John Gibler writes about a related series of bizarre and violent episodes that took place in Torreón, in Coahuila state, bordering Texas: “Who would believe, for example, that the warden of a state prison would let convicted killers out at night and loan them official vehicles, automatic assault rifles, and bulletproof vests, so that they could gun down scores of innocent people in a neighboring state and then quickly hop back over the state line and into prison, behind bars, a perfect alibi. Who would believe that a paramilitary drug-trafficking organization formed by ex−Special Forces of the Mexican Army would kidnap a local cop and torture him into confessing all of the above details about the prisoners’ death squad, videotape the confession, execute the cop on camera with a shot to the heart, and then post the video on YouTube? Who could fathom that the federal attorney general would, within hours of the video-taped confession and execution being posted online, arrest the warden, and then a few days later hold a press conference fully acknowledging that the prisoners’ death squad had operated for months, killing ten people in a bar in January 2010, eight people in a bar in May 2010, and seventeen people at a birthday party in July?” Yet all of this actually happened. During April 2012, when El Chapo was at war with the Zetas, fourteen torsos — armless and legless bodies — were found in a car by the side of the road in Nuevo Laredo. Dead Zetas. Some of the torsos were in the trunk, for which there is a specific narco term: encajuelado (“trunked”; therefore, trunks trunked). Soon after, in Michoacán state, the Zetas met their match in the person of Nazario Moreno (called El Más Loco, the Craziest One), leader of the ruthless Templarios, the Knights Templar cartel, whose recruits were required to eat human flesh—their victims’— as part of their initiation rites. When Moreno was gunned down by the Mexican army in 2014, the Zetas flourished, and remain dominant. But there was a posthumous bonus for the Craziest One: he was promoted to sainthood. In and around his birthplace in Apatzingán, shrines and altars were erected to Saint Nazario, the dead capo represented as a holy figure in robes, venerated by credulous Michoacanos.

Person 1 Person 2 I am a hardworking person, married for 25 years, and have two wonderful boys. Please let me explain why I need help. I would use the $2,000 loan to fix our roof. Thank you, God bless you, and I promise to pay you back. While the past year in our new place has been more than great, the roof is now leaking, and I need to borrow $2,000 to cover the cost of the repair. I pay all bills (e.g., car loans, cable, utilities) on time. But Person #2 is more likely to pay the money back. While Person #1 might have seemed more compelling, they’re actually around 8 times more likely to default.

A family with a household income of $80,000 sits just in the top 30% of all households. If this household bought at the top of the market, it has a huge mortgage, credit cards, auto loans for two cars. Servicing this debt in addition to combined utilities leaves very little for dining out or going on vacation, especially if the parents are contributing to college education for their kids. Measured in terms of the items this family (currently) legally owns they appear wealthy. However subtracting their debt obligations paints a picture of a family on the breadline that spends much of their incarnation servicing debt with little money to actually live their lives over the forty years of debt servicing. This is a family that is one negative health diagnosis or even minor auto accident away from disaster. This family is a teacup.

The newspaper claimed that Sharpton had worked privately for the FBI after he had been videotaped in 1983 apparently asking about buying cocaine from an undercover FBI agent. As recently as 2005, Sharpton took money from a company called LoanMax in exchange for appearing in ads designed to lure poor black people into their financial web. The company offered to loan money at high interest rates to poor people with bad credit histories if they agreed to put up the titles to their cars as collateral.

In 1997, the International Monetary Fund bailed out South Korea’s crippling financial crisis with a $58 billion loan upon the agreement that the nation open up its markets to foreign investors and relax labor market reforms, making it easier to hire and fire workers and loosen carbon emission standards so that American cars can be imported.

Unfortunately, the Bull that gilded Renaissance New York did little for most Americans. Eighties Wall Street was about institutional money released by deregulation, mergers and acquisitions, and, most of all, the debt that made it all possible. As John Kenneth Galbraith points out, financial euphoria always starts with new ways to borrow money; this time it was triggered by the Savings & Loan crisis. Volcker’s rocketing interest rates had forced S&Ls to offer double digits to new depositors while only getting back single digits on the old thirty-year mortgages on their books. S&Ls were going under, and getting a mortgage was nearly impossible, so in March 1980, with the banking system and the housing market on the brink, Carter had signed a law to allow them to issue credit cards, invest in commercial real estate, and offer checking accounts in order to stay in business. Reagan then took it a step further with a change that encouraged S&Ls to sell their mortgages in search of higher returns, freeing up a $1 trillion that needed to be invested in something. Which takes us back to Salomon Brothers, where in 1978 one Lew Ranieri had repackaged an old investment product the government had clamped down on during the Depression: A group of home mortgages all backed by government insurance would be bundled together, then sliced into bonds, thus converting the debt some people owed on their homes into an asset for others. Ranieri had been a bit ahead of the curve then—the same high interest rates that killed the S&Ls also made his bonds unattractive—but now deregulation let Salomon buy up the S&Ls’ mortgages at a deep discount, bundle them into bonds, and sell them back to the S&Ls who believed they’d diversified into the bond market when in fact they’d just bought ground meat made out of their own steaks. In June 1983, Salomon Brothers and Freddie Mac together issued the first collateralized mortgage obligation bonds (CMOs), which bundled up debt and cut it into tranches based on the amount of risk: you could choose between ground chuck and ground sirloin. It would be years before technology would allow doing this on a huge scale, but the immediate impact was that all kinds of debt, not just mortgages, were bundled, cut into bonds, and sold: credit card debt, car loans, you name it. Between 1983 and 1988, some $60 billion of CMOs were sold; GM’s financing arm became more profitable than its cars. America began to make debt instead of things. The

For example, it is a common mistake to assume that middle aged man driving that $ 70,000 luxury car living in that $ 3 million McMansion is “rich.” The truth is most people who drive $ 70,000 luxury cars and live in $ 3 million McMansions are poor. Yes, they own a $ 70,000 car and a $ 3 million house, but they have a $ 70,000 car loan and a $ 3.5 million mortgage. In other words, they owe more than they own resulting in a NEGATIVE “net worth” of $ 500,000.

The great lie about a college education in the infancy of the twenty-first century is that it guarantees a job that will allow you to live the lifestyle portrayed in all the beer commercials and car advertisements you see on TV. The reality is that you have a lifetime of student loans to pay back while you send out résumés and serve pizzas and wonder when your proverbial ship is going to pull into port to help you navigate your ocean of debt.

Demand-side sales is like having night vision goggles. People think sales is just a numbers game of percentages and probability. If you bring in enough people, cars will sell. They’re not taking the time to understand why people buy. They don’t ask questions: What do you like? What don’t you like? Why are you buying a new car? They don’t talk about car loans. If they were paying attention, they’d help. They’d know the customer’s requirements, show them contrasting options, and frame their tradeoffs. They’d help them frame it out then use a time wall to force a decision. When you do this, selling becomes serving.

A few years ago, Dan and a research assistant went to a Toyota dealership and asked people what they would give up if they purchased a new car. None of the shoppers had spent any significant time considering that the thousands of dollars they were about to spend on a car could be spent on other things. ... Most people answered that if they bought a Toyota, then they would not be able to buy a Honda, or some other simple substitution. Few people answered that they wouldn't be able to go to Spain that summer or Hawaii the year after, or that they wouldn't go out to a nice restaurant twice a month for the next few years, or that they would be paying their college loans for five more years.

I’d always assumed that the people who lived in those fancy houses in the suburbs were financially better off than I was, and only once I’d joined them did I come to understand that it’s all just a much more sophisticated and elaborate way of being broke. There’s the jumbo mortgage, the home equity loan to renovate the kitchen and bathrooms, the two or three monthly luxury car payments; before you know it, you’ve spent a hundred grand of post-tax income before you’ve put the first piece of bread on your table. Curse of the middle class, my ass. They do it to themselves, all because they’ve got this Hollywood Christmas movie notion of what their life is supposed to look like. It’s a tenuous existence built precariously on a foundation of colossal debt, and one miscalculation, one meager bonus or bad investment or unforeseen expense, can bring the whole thing crashing to the ground.

As a country, we take out loans and go to school. We take out loans and buy a car. We take out loans and buy a home. It’s not always that we simply “want” these things. Rather, it’s often the case that we use our obligations as confirmations that “we’re doing something.” If we have things to pay for, we need a job. If we have a job, we need a car. If we have such things, we have a life, albeit an ordinary and monotonous life, but a life no less. If we have debt, we have a goal—we have a reason to get out of bed in the morning. Debt narrows our options. It gives us a good reason to stick it out at a job, sink into sofas, and savor the comforts of the status quo. Debt is sought so we have a game to play, a battle to fight, a mythology to live out. It gives us a script to read, rules to abide by, instructions to follow. And when we see someone who doesn’t play by our rules—someone who’s spurned the comforts of hearth and home—we shift in our chairs and call him or her crazy. We feel a fury for the hobo and the hitchhiker, the hippie and gypsy, the vagrant and nomad—not because we have any reason to believe these people will do us any harm, but because they make us feel uncomfortable. They remind us of the inner longings we’ve squelched, the hero or heroine we’ve buried beneath a houseful of junk, the spirit we’ve exorcised out of ourselves so we could remain with our feet on the ground, stable and secure.

Mr. Shoaff even taught me to pay my car payments with enthusiasm. He said, “Next time you pay a hundred dollars on your installment loan, put a note inside the envelope that says, ‘With great enthusiasm I send you this one hundred dollars.’ ” Smiling broadly, he continued, “You won’t believe what a stir this will cause on the other end. They don’t get many notes like that. But most important, you won’t believe what will happen on your end. You’ll feel in control, carrying with you a philosophy that brings joy instead of frustration.

A few years ago, Dan and a research assistant went to a Toyota dealership and asked people what they would give up if they purchased a new car. Almost no one had an answer. None of the shoppers had spent any significant time considering that the thousands of dollars they were about to spend on a car could be spent on other things. So, Dan tried to push a little bit further with the next question, and asked what specific products and services they wouldn’t be able to get if they went ahead and bought that Toyota. Most people answered that if they bought a Toyota, they wouldn’t be able to buy a Honda, or some other simple substitution. Few people answered that they wouldn’t be able to go to Spain that summer and Hawaii the year after, or that they wouldn’t go out to a nice restaurant twice a month for the next few years, or that they would be paying their college loans for five more years.

You don’t buy Hyundai’s new hybrid car the Ioniq—you subscribe to it, for $275 a month. It’s a lot like picking a cell phone plan: pick your model online, choose between a twenty-four- or thirty-six-month plan, select your upgrades, then walk into a dealership to pick up your vehicle. No price haggling, no loans, no back-office pitches. “Our goal is to make car ownership as easy as it is to own a mobile device,” says Mike O’Brien, vice president of product planning for Hyundai.

You can subscribe to a Volvo XC40 (their compact SUV) for $600 a month, and that includes concierge services like packages delivered straight to your vehicle. Everything is covered except the gas: insurance, maintenance, wear-and-tear replacements, 24/7 customer care. Volvo’s CEO expects that one out of every five of the company’s vehicles will be delivered via subscription by 2023, and the company is working on its own ridesharing network that will allow users to loan or rent its cars for profit. Jim Nichols, product and technology communications manager at Volvo USA, told Consumer Reports, “Our research has shown that many customers are looking for a hassle-free, fixed-rate experience that mirrors the many subscriptions they currently have, such as Netflix or Apple’s iPhone [upgrade] program.

Let me take you back in time a little,” says Anumita Roychowdhury, an elegant woman in a beige and pale blue wrap. She’s the director of the Center for Science and Environment, a group that’s played a leading role in the years of battles over air quality. In the 1990s, she tells me, Delhi’s air was so bad “you couldn’t go out in the city without your eyes watering.” India had no regulations on vehicles or fuel, so despite advances elsewhere in the world, engines here hadn’t improved for 40 years, and fuel quality was abysmal. It was the activist Supreme Court that changed that. Its judges started issuing orders, and from 1998 to about 2003, a series of important new rules came into force. Polluting industries were pushed out of the city, auto-rickshaws and buses were converted to CNG, and emission limits for vehicles were introduced, then tightened. “These were pretty big steps,” Roychowdhury says, and they brought results. “If you plot the graph of particulate matter in Delhi, you will see after 2002 the levels actually coming down.” The public noticed. “I still remember the 2004 Assembly elections in Delhi, where the political parties were actually fighting with each other to take credit for the cleaner air. It had become an electoral issue.” So how did things go so wrong? The burst of activity petered out, and rapid growth in car ownership erased the improvements that had been won. “If you look at the pollution levels again from 2008 and ’09 onwards, you now see a steady increase,” Roychowdhury says. “We could not keep the momentum going.” Indeed, particulate levels jumped 75 percent in just a few years.14 Even the action that was taken, she believes, “was too little. We had to do a lot more, more aggressively.” Part of the reason government stopped pushing, Roychowdhury believes, is that the moves needed next would have had to address Delhiites’ growing fondness for cars, so would surely have prompted public anger. “There is a hidden subsidy for all of us who use cars today,” she says. “We barely pay anything in terms of parking charges, we barely pay anything in terms of road taxes. It is so easy to buy a car because of easy loans. So there is absolutely no disincentive.” About 80 percent of transportation spending is focused on drivers, even though they’re only about 15 percent of Delhiites. “The entire infrastructure of the city is getting redesigned to facilitate car movement, but not people’s movement.

Critics of capitalism often decry the “greed” that animates successful entrepreneurs. The real problem, however, is not the amount of money made by people at the top; it is the systematic suppression of people at the bottom. The real-life equivalent of the Monopoly player who has to mortgage all his money-making assets to pay his debts is the hand-to-mouth day laborer who, unable to pay his car insurance, loses his car and, unable to drive to his job, is unable to pay his rent. The villain here is not necessarily the avarice of the banker who loaned this poor fellow his money in the first place. It is the unstable dynamic of a system that mercilessly drives some people down to the bottom through a succession of cascading misfortunes. To experience the board game version of this kind of misery vortex in Monopoly is to appreciate the advantages of the welfare state, which, when it is functioning properly, does not just take money from rich people and give it to poor people. It also softens the iterative feedback dynamics within the system so as to ensure that minor nudges—a lost job, a criminal conviction, a divorce, a medical setback—do not create feedback effects that ultimately produce a full-blown personal catastrophe. Job training, public health care, a humane justice system, community housing and support for single mothers are examples of programs that can achieve that effect.

I’m not preppie enough for you, I say. His silence holds as we drive. I amplify my rhetoric and volume. Maybe I should be wearing a kilt with a fucking gold safety pin, I say. He parks the car outside our apartment. As he’s locking up, he says—color blazing high on his flared cheekbones—And you quit your job. With your school loans and your father sick. Are you crazy? This is a buzzword with me, since deep down I know I’m crazy, my chief fear being that everybody’ll find out.

Forest Grove was ideal, cool at night and just warm enough in the afternoon, with Mount Hood’s majestic snowcapped peak visible in the distance and salmon running in nearby rivers. The quiet campus of Pacific, a private school known for its music and optometry schools, was lush with evergreens and white birch. The local residents were so excited to have an NFL team around that they fought to loan their cars to the players for use on the team’s days off.