“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
“Even if you buy a car with cash, you are forfeiting the opportunity of investing that cash and earning a return on it. So even people who always ‘pay cash’ still experience the same implicit trade-offs between spending now versus later…the real question is whether you are going to obtain your financing from a bank controlled by outsiders, versus a bank that you control.” -Robert Murphy
“It took me a while to get to this point in my life. But I’m glad I made it… I’m at the point where I can buy what I want. But I don’t. It’s an important point to reach.” –Steve Sjuggerud
“He (Seth Goden) says, quite correctly, that most people who buy books on entrepreneurship never get beyond the dreaming stage because ‘deep down inside, they don’t think they have what it takes to succeed’. I don’t know if that is the most common fear of starting a business. I wish it were. But I’m afraid too many entrepreneurs have the opposite problem. They don’t realize they don’t have what they need to succeed…. The solution to that fear is to put your plan on hold and acquire the experience to know what you need to know.” -Mark Ford
“…the world has been binging on debt like never before.
The International Monetary Fund reported last month that total nonfinancial-sector debt has ballooned to an all-time record of $152 trillion… while the global debt-to-GDP ratio has also soared to an all-time high of 225%, up from 200% just 14 years ago.
Worse, we’re seeing record debt at the government level, the corporate level, and the consumer level (via auto and student loans, in particular). The boom in corporate borrowing is especially concerning…
U.S. companies have already borrowed $1.4 trillion this year to date, according to data firm Dealogic. This is on pace to shatter last year’s previous all-time record of $1.5 trillion.
Unfortunately, most are using this money to refinance existing loans… buy back stock and pay dividends… and finance expensive (and often questionable) mergers and acquisitions. This will do little to help the economy. But it greatly increases leverage… and risk.” -Justin Brill
