View Poll Results: Do you agree with the statement in the OP?

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Thread: More Debt = More Wealth

  1. #1
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    More Debt = More Wealth

    Do you agree with this statement - "The more money you borrow, the wealthier you are."


  2. #2
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    Re: More Debt = More Wealth

    I think it depends on the situation. For example, if you are using that debt for an investment with a higher return than you can be generating wealth even though you are technically in debt. Alternatively, if you are using debt for a big screen TV and things that do not have a lasting value, you are reducing your wealth.

  3. #3
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    Re: More Debt = More Wealth

    No, borrowing money does not reflect wealth - it reflects your deficit and what you do not have to begin with.

    If you borrow to try to increase profits (like prongman said) then you're gambling and you're only wealthy *later* if your debted investment pays off. . . and your wealth is only calculated *after* your debt is gone - so debt might be a way to gain profits but debt will be deducted from those profit-margins until your debt and interest in paid off.
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    Re: More Debt = More Wealth

    Quote Originally Posted by Aunt Spiker View Post
    No, borrowing money does not reflect wealth - it reflects your deficit and what you do not have to begin with.

    If you borrow to try to increase profits (like prongman said) then you're gambling and you're only wealthy *later* if your debted investment pays off. . . and your wealth is only calculated *after* your debt is gone - so debt might be a way to gain profits but debt will be deducted from those profit-margins until your debt and interest in paid off.
    prongman? That is truly awesome (seriously, I like prongman better than progman, its somehow more manly)

    Also, it depends on the type of investment. Some can be sold off later for a profit while others can generate profits in a way that is continually paid out.
    Last edited by tacomancer; 07-06-10 at 11:47 AM.

  5. #5
    Cheese
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    Re: More Debt = More Wealth

    LOL - sans "N" Progman.

    But - investing is risky business. . . its' more akin to gambling. I would only count profit-post-debt if the debt is truly erased, leaving the profit behind.
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    Re: More Debt = More Wealth

    hrm.. well, if everyone were to go pay their debt off we'd run out of money.

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    Re: More Debt = More Wealth

    My family is less in debt than the average family, yet I see other people my age with much nicer cars etc. So I put 'other'.

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    Re: More Debt = More Wealth

    Quote Originally Posted by Aunt Spiker View Post
    LOL - sans "N" Progman.
    Nah, now I really like the idea of being megaprongman.

    Quote Originally Posted by Aunt Spiker View Post
    But - investing is risky business. . . its' more akin to gambling. I would only count profit-post-debt if the debt is truly erased, leaving the profit behind.
    Agreed, but as long as its yours, its wealth.

  9. #9
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    Re: More Debt = More Wealth

    Quote Originally Posted by megaprogman View Post
    Nah, now I really like the idea of being megaprongman.

    Agreed, but as long as its yours, its wealth.
    If you have to pay it back to someone - it's not wealth.
    A screaming comes across the sky.
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    Pynchon - Gravity's Rainbow

  10. #10
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    Re: More Debt = More Wealth

    Quote Originally Posted by Aunt Spiker View Post
    If you have to pay it back to someone - it's not wealth.
    Somewhat, yes, again, I think it depends on the situation and nature of the investment.

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