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0 pointsbranchless9y ago0 comments

Mr Money Moustache has 2 or 3 rental properties which are wealth appropriating not wealth creating. He's using the wages of other families. He goes on about how $10 is a lot yet takes far, far more in rent each week.

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literallycancer9y ago

What's wrong with renting properties?

>which are wealth appropriating not wealth creating

Literally everything anyone buys is paid for by a portion of their wealth, not sure what you are trying to say here.

branchlessOP9y ago

Not sure where to start here. Are you suggesting money gained is a proxy for wealth created? It's the product of an imperfect system. Some people add more value than they are paid for, others the inverse. The system heavily favours economic rent extraction via land. Almost all new debt is issued via land.

Quite simply people have figured out it's a rigged game and are piling in, hence the asset bubble and the fallout effecting an entire generation, which perhaps you missed.

I'm not really interested in discussing this with you either as just pointing out things are paid for is just taking the existing system without any question as "correct".

koonsolo9y ago

I understand what you are saying, but I think you are missing an important concept. If you created more value than you spend, you have an extra. Other people want to spend more than they created. So what happens is that people who have the extra, can loan their value to those who have a deficit. This loaning can also be considered a service. People are not forced into renting. What Mr. Money Mustache is saying is "Hey, don't be the guy with the deficit, be the guy with the surplus, because everyone with the deficit will work for those with the surplus". What I hear from US with all their credit cards, it seems it's a culture of spending way more than you earn. Spending money that you will receive at the end of the month. Which is pretty stupid.

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