The United States lived on borrowed money for too long, inflating its financial sector unnecessarily and neglecting its small and mid-sized industrial companies.
There are times when a market such as housing, transportation or the stock or mortgage market keep rising and people with capital want to join in this growth. Soon the markets become overheated, partly because of the abundance of investment money and speculation. This is when the government should raise interest rates and increase the cost of borrowed money. Governments are shy about doing this because it could cause the very recession. Yet this is the best time to do this so that the inevitable recession never reaches the magnitude of the recent Great Recession.
I don't save money. Save is a four letter word! I like to borrow money because I can get richer faster on borrowed money. I have what is called retained earnings, so I don't have to save money. If I need money, I will go out and borrow it.
Any self-respecting entrepreneur has borrowed money from their mother at some point.
I have only ever borrowed money for investment. I have been sound money all my life.
To pay for my father's funeral I borrowed money from people he already owed money to. One called him a nobody. No, I said, he was a failure. You can't remember a nobody's name, that's why they're called nobodies. Failures are unforgettable.
Our philosophy has been to be fiscally conservative, so we can be operationally aggressive. We're not using borrowed money to grow. So we'll put up a store just to get there before the competition. If it doesn't work, we'll close it and lose a little equity. It won't kill us.
As far as I know, we have never before decided to fight a war with borrowed money and ask generations that come after us to pay for it.
The problem is that borrowing money to pay back more borrowed money that will oblige you in the future to borrow even more money doesn't sound kosher. Because it isn't.
I had learnt at the onset not to carry on public work with borrowed money.
I was never completely destitute. I think I borrowed money once off a friend, but I've always been quite careful with my money, having come from not much of it.
They [some countries] borrowed money to go acquire things, Indian power plants and Danish newspapers and British soccer teams. And they did it willy-nilly, and they themselves a story, that Icelandic history and culture and DNA leaves us very well-suited to being investment bankers.
I kept my clothes on. I borrowed money.
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