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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

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".

koonsolo 10y 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.
- branchless 10y ago
  He's saying "i live frugally, be like me" then doing something that doesn't scale. We can't all be the landlord, rent seeking.
  - deleted 10y ago
    [deleted]
  - koonsolo 10y ago
    He says: Earn a lot, spend little, invest the difference. Once the revenue of your investments covers your spending, retire. That's what he's saying. And the key is indeed living frugally, which makes it all easier. And yes, he rents out houses, that's his investment. I don't see anything wrong with this. If everyone was a landlord, then that would be a pretty bad investment now would it?
    - branchless 10y ago
      I disagree with his wealth appropriation and the idea that he is somehow living frugally whilst relying on that appropriation. Fundamentally we cannot all claim the labour of others using the system to force their hand.
      - loco5niner 10y ago
        > we cannot all claim the labour of others using the system to force their hand. What does this even mean? He is providing a good/service, and people are willing to pay him for that good/service. He's not living off the pain and suffering of others...

koonsolo 10y 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.

branchless 10y ago
He's saying "i live frugally, be like me" then doing something that doesn't scale. We can't all be the landlord, rent seeking.
- deleted 10y ago
  [deleted]
- koonsolo 10y ago
  He says: Earn a lot, spend little, invest the difference. Once the revenue of your investments covers your spending, retire. That's what he's saying. And the key is indeed living frugally, which makes it all easier. And yes, he rents out houses, that's his investment. I don't see anything wrong with this. If everyone was a landlord, then that would be a pretty bad investment now would it?
  - branchless 10y ago
    I disagree with his wealth appropriation and the idea that he is somehow living frugally whilst relying on that appropriation. Fundamentally we cannot all claim the labour of others using the system to force their hand.
    - loco5niner 10y ago
      > we cannot all claim the labour of others using the system to force their hand. What does this even mean? He is providing a good/service, and people are willing to pay him for that good/service. He's not living off the pain and suffering of others...