I was once talking with one of my classmates and he said that in the future, there will be universal basic income implemented by entire world. I was not convinced at that time and thought he is just being stupid but given the layoffs happening and massive amount of unemployment, I am thinking about this possibility. What do you say?
you suddenly have 280m of leveraged assets under your control
Yes, this doable. In this scenario you pay 3% on effectively 200 million loan, effectively 6 million of interest every year. Leverage isn't free money - it requires an extremely careful risk management. The moment your assets lose part of their value or interest rates go up, you're royally fucked
I did something like this when crypto trading, and it's an exceptionally difficult thing to manage. Leveraging youself is not free money - you're trading exposure for risk and interest.
I know people that are firmly working class (though earn decent money) doing buy borrow die with real estate
I imagine a lot of people like that got WIPED during the 2008 financial crisis. Running this strategy with a single asset type also exposes them to additional risk.
As for Elon and SpaceX IPO I'm amazed how many people willingly bought that garbage. Don't weep for the stupid, you'll be crying all day. That 401k situation is horrible tho.