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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (92815)	7/24/2012 10:56:03 AM
From: Maurice Winn	2 Recommendations Respond to of 217740

Friends were going to move from Italy to Spain to open a restaurant in 2006 or maybe it was 2007. I warned them against it because it was obviously a ridiculous boom going on, financed by borrow and hope, with collapse coming when the debts outweighed the incomes and reality denied expectations. nytimes.com They decided, sensibly, to move to Lima where they run a security equipment business. Lucky for them as they would have been opening for business just before everything went belly up. <They asked me how I did it. I said. I just spend less than I earn. I see the amount of places to eat and drink in Curitiba and I worry. > Regarding you sensibly saving in the 19070s, while your friends lived by the slogan, live for today. I was like you. Make hay while the sun shines. Save for a rainy day. A wise man builds his house upon the rock. Build your house on a strong foundation, and happiness will follow you. Swarms of people borrow on their future to spend on hedonism today, mortgaging their house, with the interest payments eating up their future so that when the future arrives, they are suddenly empty-handed, just as their earning capacity disappears. A $4 cup of coffee now is the equivalent of a $40 cup of coffee [in today's money], or 10 cups of coffee, in 20 years time if the $4 is instead invested wisely. When coffee was $1 a cup, I never bought it, investing the money in shares and housing in the 1980s. Now coffee is $4 a cup, I can buy all I like thanks to doing without back in the day. And I do it not in the thick of NZ winter, but on the Mediterranean coast of France, and throw in some camembert, nectarines, apricots, rustique baguettes, rose, tapenade, tomatoes, figs, and all delectables. Envy is one of the seven deadly sins, pride is another, gluttony yet another, leading to debt and wastrel spending. Virtuous Victorian Values do not include the seven cardinal sins. Mqurice