Sunday, May 24, 2015

Meet the New Car Thieves

Organized car thieves have now successfully roped the police into their scheme of acquiring automobiles at auctions for cheap.
  1. Create a task force dedicated to looking for fraudulent car insurance.
  2. Sell counterfeit car insurance for super-low rates too good to be true. Works best in poor neighborhoods.
  3. Send insurance fraud reports to the police.
  4. The police will impound cars with fraudulent insurance for you.
  5. Show up at the auction. You will be easily be able to out-bid the poor owners.
  6. Sell the cars.

Friday, May 1, 2015

The Disincentives for Home Ownership Keep Piling Up.

The newest generation to reach voting age is faced not only with massive school loan debt, low wages, and crumbling infrastructure, but an aversion to home-ownership for a growing number of reasons.
Our society is changing from the type that settles down and collects consumer goods over the years, to a type that cannot afford to collect consumer goods because they must be more mobile due to the increasing volatility of the economy.

Baby Boomers and their living predecessors still have their antique Walnut wood marble-top tables and dressers, a complete set of real silver utensils and real gold rimmed dinner ware. Many of them had the luxury of living in the same houses and neighborhoods for almost their entire lives. They had the luxury of actually having careers from which they could retire with a livable pension. They could go to college for almost nothing.

The education system is so slow to adapt to economic change that the post-boomer generation is not prepared for the rising instability of the economy.

The first major adaptation coming is in how we value the idea of  home-ownership. It's becoming a trap that ruins your credit history and causes bankruptcy, foreclosure and decades of indebtedness.

Renting is becoming the safest and least costly option. This will have a negative impact on the purchase of large home appliances, additions to wardrobe that fill closet, attic and basement space; and expenses related to home improvement projects.

Responsible post-boomers will try to wait until they feel stable in their living situation to have children, which might be never.