Comments by "Ace1000ks1975" (@Ace1000ks19751982) on "Minority Mindset" channel.

  1. You do not need to go to college to be a businessman. My great grandfather never went to college, and he became a multi millionaire by age 30. You don't have to go to college to become wealthy, you have to have the right mindset, the right opportunities, and the right circumstances. If you want to become a MD, DDS, CPA, a mathematician/computer scientist, biologist, chemist, physicist, engineer, pharmacist, teacher, professor, or some kind of specialist you need to go to college. You don't need a degree in business administration to start a business. You can open a business with skills you learns from college. For example, if you studied engineering you can open a engineering firm, if you studied medicine you can open your own practice, etc. In this day and age, going to college and getting a skill helps. We don't live in the 1890s or the early 1900s where you can go to one part of the country and buy merchandise and sell it in another part of the country. Everything is developed, you have trade networks, and you have globalism. It is very difficult for a small business person to make it in the face of overwhelming competition.
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  2. If millions of people don't have jobs, how can people keep those homes?
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  3. A lot of people can't adapt for a lot of reasons. They may not have the education, skills, intelligence, or they are too old to learn new things. In this economic environment, you just have to diversify. Don't rely on one job, and learn new skills in your spare time, like programming languages, learn how to make things, it can be furniture to software, find a way to sell it online, this way you can make an income.
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  4. Don't go to college if you don't want to become a specialist, like a medical doctor, dentist, pharmacist, engineer, or some other technical expert. Other than that, it is fucking worthless.
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  5. You don't understand how the Chinese banking system works. All the banks are owned by the government, so all they have to do is write off these debts every year. These debts aren't owed to other countries, or private interests. The real estate market will not be bailed out by the government, the losses are all borne by foreign investors, and people in the country that are in the millionaire and billionaire class. If the price of real estate crashes then ordinary people can afford to live in them.
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  6. Inflation is actually good for gold, and hyperinflation is even better for gold. Peter is talking about the bigger picture, and the consequences of these reckless monetary policies. As inflation gets out of control, it will affect everyone, like crime going up, more people becoming homeless, more people going into poverty, and the US dollar losing its reserve currency status.
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  7. Who said any of this was free, if you believe that you must be silly.
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  8. I have a degree in applied mathematics, and I work as a programmer, and I also have a vocation as a computer technologist. All mathematicians are computer scientists by the way. A computer science major is just a math degree that is why a lot of people can't do it. They can't pass the hard science and math courses, like physics for engineers and scientists, 2 quarters of general chemistry, calculus 1 to 3, Linear Algebra, and Differential Equations. All science majors whether they be a chemistry major or a physics major can also become programmers.
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  9.  @joshlewis575  Like I said, the biggest real estate investors in China are investors from outside of mainland China, like Taiwan, Hong Kong, Western countries, etc. They are wealthy Chinese multi millionaires and Chinese billionaires who have more money than they know what to do with it. As for the ordinary Chinese people who paid for those homes, the government will bail them out. It won't all be done in one year, it will take a few years to write off these debts. Besides, they don't have a highly financialized where the economy is highly dependent on asset appreciation and collecting rent. Another thing, you cannot own land in mainland China, all the land is owned by the government(People). You can only get leases for that land, those leases are for 30 years to 70 years.
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  10.  @Lee-pf6od  More than 90% of the people that live in China don't have a mortgage. People don't take home equity loans in China, so the majority of the people will be just fine. : ) The billionaires and the multiple millionaire speculators are the ones who are worried about their investments going down.
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  11. If you didn't earn that money, you will not see any value in that money. Therefore, you will waste that money.
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  12. They can lower interest rates to negative rates, but it will not improve the economy, because very few people will have the income to pay it back. You will still pay back these loans on a monthly basis, and if you don't make enough money then you will not be able to pay it back.
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  13. I am glad I don't have any stocks now.
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  14. Most people are losers and they get jealous when you get ahead.
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