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In Reply to: RE: So, if you're able to buy the business with borrowed money... posted by tweaker456 on June 09, 2021 at 16:51:55
It works on Wall Street because there's no debtor's prison. Bankruptcy court-issued frequent flyer passes. But seriously, there is the approach of accumulating debt as a form of capital formation with the goal of dying in as much debt as possible, owning a gold-plated private 757 jet,etc.
I'd love to be heavily leveraged but I don't know how to get there from here :)
"Horse sense is the thing a horse has which keeps it from betting on people. "
― W.C. Fields
Follow Ups:
...borrow as much as you can, yet still make the minimum payments. I know people with "perpetual mortgages"--they could have paid-off their homes years ago, but they refinance every time they have any significant equity and rates are favorable. They'll have a mortgage payment, and still be deep in debt the day they die, but they just keep drawing and spending against their homes.
"So I talk to the night, I head for the light, try and hold it on the road. Thank God for the man who put
the white lines on the highway"--a very dear friend for decades Michael Stanley (Gee)--RIP
The USA is not an individual home owner. It can borrow forever in a reasonable manner. It isn't a house of cards unless it gets out of hand or their is a large shift in the US position in the world. Not saying it can't get out of hand. The house is collateral and the US government and society as a whole are collateral which includes the government's printing of money. As Rod pointed out inflation may go a long way to eroding things. It seems to be rearing it's ugly head. The last thing I expected with 20 million people losing their jobs in the US and the world in economic crisis from Covid-19, with huge numbers of jobs lost or put on hold, was inflation. Inflation with the Fed saying it won't raise interest rates and high unemployment and under employment. Stock market basically at an all time high overvaluation with a pandemic going on. We, IMHO, are in uncharted territory.
Speak out, you got to speak out against
The madness, you got to speak your mind,
If you dare. - David Crosby
And in Germany after Versailles. And there's a classic book about many previous chartings.
"Horse sense is the thing a horse has which keeps it from betting on people. "
― W.C. Fields
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