Posts Tagged ‘disaster’

“The married couple of 20 years is just a step away from financial disaster….

Millions of over-leveraged consumers – who can’t distinguish between a ‘want’ and a ‘need’, refuse to live within their means, require a certain standard of living, and use most of their available credit without knowing when or how they’ll pay it off – are a big credit risk. They live on the edge of default….

Inevitably, irresponsible lending always leads to a bust….  Credit-card debt is growing so fast, it’s even outpacing strong wage growth….

Trouble is brewing… It’s only a matter of time before this recklessness blows up.” -Bill McGilton

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“Getting money without working for it is probably more often a detriment than a boon to civilized behavior….  But Bell [Clive] is completely mistaken if he thinks that free money alone, handed out to the mob, will bring a more enlightened, more literate, and more sophisticated society.  Instead, it will make us poorer in every way – economically and socially.  And culturally.  It will be a disaster.  It’s work, challenges, and struggles that give meaning to our lives, not money.” -Bill Bonner

Avert Disaster

Posted: September 28, 2013 in Thought for the Day
Tags: , ,

“The closer you are to disaster, the harder it is to leave.” –Bill Bonner