fine whatever ignored my kind and simple request but now you're not invited to my party

If you don’t have debt you ain’t doing it right... not talking about debt because of corona... talking about debt in order to run a business or to make money in real estate or whatever your niche is

This post was edited by BlemBlem on Dec 12 2020 11:05am

I don't think this is true at all. Your personal wealth goals are determined by your desired financial outcome. Some are happy only spending 40k a year while others require much more. Leverage is an unnecessary risk for some.

Leverage may be able to accelerate both but would be disastrous if used incorrectly. To blanket say people should be using leverage to earn multiples when the vast majority of people lack financial literacy is a recipe for another financial crises. Obviously some debt has become standard like student loans, it's clear what you must do to yeild a return on that debt, acquire higher education and get yourself a higher yeilding job that you wouldn't have otherwise had access to. It's aot more muddy when you start telling people to become proper managers because debt can earn you multiples off realestste.

Look at the average debt levels of American and Canadian households already that is going unserviced/ into default.

It’s more about using the debt to make yourself multiple streams of income so when a “pandemic” hits your fine..yes if used incorrectly can wreck you but so can cash so that’s irrelevant

If you are business savvy you would know EBITDA. In layman's terms profits must>service debt ratio, make more then the debt or even simpler live within your means.
Debt drives business and progresses the world forward. It's the backbone of our society.

But debt from government that comes in many forms of tax is a questionable especially since you don't have much control so it's like a stock option. That's why the rich industries have such a big influence in politics because they determined by financial tax or incentives

This post was edited by addone on Dec 12 2020 12:00pm

As a CA yes I know what EBITDA is. I also have serviced thousands of individuals who have no grasp on how to service debt and would end up in a significantly worse position taking debt.

People don't just automatically know how to generate multiple income streams. I don't think you're looking through the kense of the average American household and you're trying to pull some elites kense on a gaming fourm to attempt to make yourself sound intelligent.

Not understand how to use debt is not irrelevant because it has a compounding negative.

I would suggest first looking at average consumer behaviour, median household averages, financial education levels and re-evaluate the "everyone should be taking debt to generate multiple income streams stance"

well there is a difference between debt and liability
liability is more easily litigated than actually owing real monies (if shit goes down)

Well not knowing how our monetary system works is partly because we are not really taught at school or by parents unless you were born into it. At the same time it's on average Joe to figure out how it works and use it because it's our jungle and if you don't it's equivalent being eaten by a tiger. So if you are in piles of debt it's because you haven't taken the steps and the effort to learn or be productive member of society.

In that retrospect you are whiteknighting when you should be educating because it's in your best interest that people don't do stupid things for our collective debt to rise

This post was edited by addone on Dec 12 2020 12:17pm

without setting a horse's corpse on fire i'd just say that it would be, in general, wise to avoid debts to people you aren't willing to sue into the ground
fuck em who gives u a shit u want my money? come and try to take it. i'll bankrupt you before you even go to lunch