Not Hilarious.
Debt when people die, credit wonderings, and the Never-ending Cycle.
Santa Catarina Coast, Brazil.
Oh, the good life, full of fun seems to be the ideal - Tony Bennett.
What happens when people buy stuff they don't need and die?
They leave bills to those in their lineage.
Is this a blessing or a curse? We don't know, but we will help you figure it out.
In today's world, we have records of new constructions, cars, iPhones, and even shoes…
All this can be bought for a fraction of your money, meaning you don't need all cash to buy a Mercedes. You just need the credit to buy it; the rest is the rest.
The same works in the housing market. Few are the people that buy an all-cash new property; otherwise, why would we need so many banks?
It's interesting to see that while we have a world record for new stuff to buy (or finance)… we are also close to a world record for banks in operation in the US.
Although people buy more stuff, some stocks, like NVIDIA, are also at record prices.
It makes this author here think…
Are we in another credit bubble?
Where does this NO-SO-REAL money come from if we spend, invest, and have more inflation (meaning less real money in the pocket)?
CREDIT TO THE NEXT LIFE.
Some people die poor. We think all people die poor, materially saying. We die as we are born but without health. - It's possible to die healthy? What if…
But poorer are those that live the debt to their young souls, sons, daughters, and the following people that may not be here now.
It's an intelligent act for the bankers and the court and law, but do we need to be so in debt with mortgages, credit cards, and time spent?
Most heirs need money. They must pay after-death taxes and rituals and split the cash being held. So fixed assets don't really live there in peace forever.