Just a small correction there: debt can never be good.
But debt can be necessary, but that is only because some financial institutions have made it so, because many of them make their money from peoples debt.
So they spread the myth that debt is good, despite the fact that the world would be a far better place without debt.
Absolutely false. Debt is a tool. It’s a wealth multiplier.
You can use tools incorrectly, and that can harm you. But used correctly, they can let you do things quicker and easier than you could have without them.
Isn’t it insane that 4 people downvoted my comment saying that if you’re making more money from debt than it costs to have the debt, it’s good debt? Do these people not understand how money works?
Just a small correction there: debt can never be good.
But debt can be necessary, but that is only because some financial institutions have made it so, because many of them make their money from peoples debt.
So they spread the myth that debt is good, despite the fact that the world would be a far better place without debt.
Absolutely false. Debt is a tool. It’s a wealth multiplier.
You can use tools incorrectly, and that can harm you. But used correctly, they can let you do things quicker and easier than you could have without them.
No, debt can be good. If you’re making more money from an asset than the interest on the loan used to buy that asset, it’s good debt.
Good for who?
For the person holding the debt.
Isn’t it insane that 4 people downvoted my comment saying that if you’re making more money from debt than it costs to have the debt, it’s good debt? Do these people not understand how money works?
Rich people always say never to use your own money to start a business.
You can’t figure that out from my comment that you responded to?
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