Debt is the tool that you use to close the gap between your expectations and your reality. And the more that society and culture has exposed that gap and widened that gap between where you are and where society tells you that you you think that you should be, you're going to fill that hole with debt.
Eighty billion dollars [in debt]. Eight zero. More important than the number is the reason that David Ellison was able to buy Warner Bros. was that the last owner couldn't deal with the debt that he took on to buy the company.
The scary part is what's not in plain sight here and that is 800 plus billion is pushed off the books into shell companies. So it's hard to see who's going to eat the losses. Plus, this debt is backed by chips that can lose value overnight if a better one emerges.
Every dollar you pay off your credit card debt, you're basically earning an 18 to 24% guaranteed return. There's no place you're going to get a guaranteed return of 18 to 24%.
the bank is just benefiting from my misfortune, from the misfortune of people who can't afford to make any mistakes, from people who have no margin of error.
7mo ago
Underscored — save the words that stop you in your tracks.
