Bring Home the Bacon (before it's gone!)
I just read an interesting article that has got me thinking... Here is the article: http://onlinejournal.com/artman/publish/article_4274.shtml And my thoughts: We are paying 8% to the banks when our own family members can't even earn 5% on their investments -- and are more likely losing money. I wonder if communities should start pulling money out of the market and investing locally -- loaning their money locally / backed by real property of other people in our community. Bring the money back home before it is all siphoned off! Let me elaborate.... As an example. My sister has a house. Let's say she owes the bank $200,000 and is paying 7%. My Grandma lives in a retirement community, which she pays for off the interest on her investments. They used to bring in maybe 10%/yr. Now, they are losing money. And at the rate we're going, could lose a lot more. What if my Grandma 'invested' in my sister instead of the market. Even if my sister only paid Grandma 5%, ...