this post was submitted on 01 Jan 2026
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My parents and grandparents taught me how to go bankrupt..
Step 1: Mortgage inherited assets to follow the latest fad.
Step 2: Make no profit but spend tons money.
Step 3: Accept government handouts right and left but still lose money.
Step 4: Go bankrupt and lose everything you inherited.
Step 5: Blame everyone else for your own stupidity. Extra emphasis on people with darker skin color.
Out of curiosity, what was the fad?
Hydroponic greenhouses in the late 1970's for one bankruptcy. Off a deep well on a high mountain valley with water that came out of the ground at 6-8C.... Oh and brutally cold winters down to -30C The heating cost alone for the water was prohibitive. They blamed the Mexicans for "tanking the market" for that bankruptcy.
On the other side, they always chased last year's market. Sugarbeets were high so they doubled their acres - bank forced sale of 300 on that one. Beef was high so they bought steers ar extremely high prices and then sold them at a loss.. bank forced the sale of another 400 acres plus they lost their grazing contract. The last one was lamas. Yep they bought 100 of them.... Somehow it was the blacks fault for that one.. never did quite figure out how. I currently guess the bank got a new loan manager who happened to have a darker skin color.
I live in the Philadelphia metropolitan area and I do a lot of bicycling around the outskirts. It's amazing how often I randomly bike past a llama farm. That shit can't be profitable.
Reverse mortgage?