Interesting stories, CAR and ER, and agree with both of you.
Even though many of us took some risk to build our wealth, I think, most likely, it was very calculated. Today, it seems, some people seem to be willing to throw all caution to the wind, leverage to the point that they could lose everything, and “hope” for the best.
I wish everyone who is “playing” in this economy the best, but as both of you, I’ve seen this scenario play out in a negative way several times with friends.
The stats on the net worth in this country tell the whole story. They aren’t pretty. I always wonder what all of the “players”–such as the ones mentioned in the OP–plan to do if some unexpected life event should come their way? Scary stuff.
