We spend money we don't have, on things we can't afford, to impress people we don't like.
And I'll have to admit that I was somewhat that way. I could afford the payments. I thought that was ok.
I was friends with Tim Durham, and man, I thought he had it all together. The house, the hundred cars, the yacht. I thought 'this dude is making it'. Then the economy collapsed. Turns out everything was purchased with debt. So he started 'borrowing' from one of his businesses, got caught, and is in federal prison for the rest of his life. He literally was on CNBC's Super Rich one year, and on American Greed a couple years later.
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