“Since we are not taught to strategically accumulate capital, we rely on the capital of those individuals and institutions who do. We borrow from investors, banks, mortgage lenders, credit card and consumer credit companies in order to pay for the things we need.” -Ryan Griggs
Posts Tagged ‘borrow’
Borrow Capital
Posted: July 2, 2019 in Debt, Money Matters, Thought for the DayTags: accumulate, banks, borrow, capital, companies, consumer, credit, credit card, individuals, institutions, investors, lenders, mortgage, need, pay, strategically, taught, who
Borrowing Cost
Posted: October 10, 2018 in DebtTags: borrow, borrowing, capitalism, cost, free, future, higher, house, important, luck, modern, Money, mortgate, note, number, pay, price, rate, risk, Time, treasury
“This number (10-year treasury note) is probably the most important number in modern capitalism. It tells us the ‘risk-free’ price of money… which is to say, it tells us the cost of borrowing money, or more abstractly, the price of the future.
The more you borrow today, the more time you will have to take away from tomorrow to pay it back. Eventually, you run out of time… and out of luck.
To put that in more concrete (or wood and plastic) terms, the higher your mortgage rate… the longer you have to work to pay for your house.” -Bill Bonner
Beneficial Debt?
Posted: June 28, 2018 in DebtTags: acting, adjusted, bank, Banking, beneficial, borrow, cars, circulation, concept, cow, created, currency, Debt, diminished, environment, essence, extract, free, goods, house, houses, improve, increase, increasing, inflation, invented, invisible, life, living, monetary, new, odds, own, pass, possible, price, production, purpose, retire, services, society, system, tax, understanding, value, Wealth, working
“Traditionally, inflation has been defined as ‘an increase in the amount of currency in circulation’…. Unfortunately, in recent decades, even dictionaries have been offering a revised definition of inflation, as ‘an increase in the price of goods and services’….
The purpose of bank-created inflation is to extract wealth from the populace. By regularly increasing the amount of currency in circulation, banks create an environment in which the concept of debt appears to be beneficial. As a result, virtually everyone in today’s society not only has debt; he actually believes that he couldn’t improve his life except through debt…. In essence, the inflation concept was invented by banks as an invisible tax—a means by which they could extract wealth from the populace.
In effect, the individual is used by the banking system as a milk cow. For his entire working life, inflation is carefully adjusted to extract as much monetary value from his labours as possible, whilst still leaving him capable of continued production….
Refuse to borrow money for any situation. Yes, it will mean that, as your friends show off their new cars, you’ll be driving an older model. They’ll also live in nicer houses than you and they’ll ‘own’ their own house before you do. But, at some point, since you’re free from debt, you’ll pass them by and eventually retire well.
By understanding inflation, and acting on that understanding, the odds of living your life as a milk cow can be greatly diminished.”
-Jeff Thomas
Addicted to Debt
Posted: April 29, 2018 in DebtTags: add, borrow, consumer, corporate, Debt, debtor, government, history, hope, household, Money, obvious, trillion, United States
“If you add up all of our government, corporate, and consumer debt, America owes roughly $70 trillion…. that adds up to about $836,000 per American household…
The United States has become the largest debtor in human history. The obvious question is: Why on Earth did so many people borrow so much money they have no hope of ever repaying?”
-Porter Stansberry
Debt Trap
Posted: February 21, 2018 in DebtTags: borrow, buy, car, college, complete, cycle, degree, house, life, Money, slave, trapped, wage, whole
“You’re going to be a wage slave your whole life… You’ve got to borrow money to buy a house. You’ve got to borrow money to buy a car. You’ve got to borrow money to get a college degree. You’re trapped in this complete cycle.” -Porter Stansberry
Pay Back
Posted: March 25, 2017 in Money MattersTags: borrow, capital, consumption, create, future, Money, mortgaging, past, pay, saved, serf, Wealth
“When you borrow money two things usually happen. First, you’re taking capital that others saved in the past, and are probably using for consumption, not to create more wealth. And second, you’re mortgaging your future, which makes you a serf when you have to pay it back.” -Doug Casey
Serious Loans
Posted: January 26, 2017 in Money MattersTags: borrow, financial, loans, owe, seriously
“As a financial guy, I take loans seriously. If you borrow, then you owe.” -David Eifrig
Money Engine
Posted: July 11, 2016 in EconomicsTags: bank, borrow, Business, collect, construction, earn, Economy, engine, fund, growth, lend, loan, rate, spending, spread
“Banks are the growth engine of an economy. They make loans to fund new businesses, construction, and consumer spending. And they collect the ‘spread’ between what the short-term rates pay to borrow and the long-term rates they earn when they lend.” -Porter Stansberry
Debt Obligation
Posted: June 8, 2016 in Money MattersTags: accountable, bankruptcy, borrow, Debt, Money, obligation, pay, responsible
“Each of us is morally responsible and accountable for the obligations we accept freely. Personal debt is no different. Once you agree to borrow money and pay it off, those debts are yours unless a bankruptcy court releases you from them.” -David Eifrig