Quote of the day 5th August 2014

“Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.”

(Ogden Nash)
 

Comments

Jim said…
Well that would depend if you are the creditor or the debtor, and the circumstances.

If the cash machine wss broken and you said "could you lend me a tenner for lunch please" then actually you the debtor, may feel more awkward than me the creditor, for asking.

I may well have forgotten next time i see you, but you would feel awkward and uncomfortable if you did not repay it.

others say you asked for £1000 for a new bike or something then that's different - sure its great to get it and chore to pay it back (especially if the bike is now a year old and you are bored with it)

but the key difference is a bank never lends anything, they just create it out of thin air, then use that creation to fractional lend and then expect you to produce the same amount, give it to them and pay interest on it, when all the time of course there was actually nothing "lent" to pay back. The only thing the bank done was monitised the new debt you created, then used that very debt to create another 9x that amount of "money" then demanded back the "money" and charged interest.
Chris Whiteside said…
I accept what you way, but Ogden Nash's joke makes a serious point which is valid the vast majority of the time.

My contemporaries at school used to joke that "All generalisations are dangerous including this one" and with that caveat Nash's joke is about as true as any generalisation gets.

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