3 ms·
I view debt as gambling against future prosperity. It's a faustian deal you make with yourself to steal your own future earnings to use today. What a bitterswee
by err4nt 10y ago
I view debt as gambling against future prosperity. It's a faustian deal you make with yourself to steal your own future earnings to use today. What a bittersweet deal (most of the time)
- mdpopescu 10y agoAs a general rule, people in the future are richer than people in the past - both individually and at the society level. It is gambling, but history suggests that it generally works out.
- Thrillington 10y agoTimescales are a bit off for that rule though. People are generally better off in a few years from now, unless they've been paying that extra prosperity to as monthly interest on their debt.
- mdpopescu 10y agoIf the interest is larger than the entire gain, sure. However, most people don't do that as far as I can tell from looking around me.