3min chapter

Tom Bilyeu's Impact Theory cover image

How To Prepare For The GLOBAL RECESSION & Build Wealth In The Process! | Raoul Pal

Tom Bilyeu's Impact Theory

CHAPTER

Are We So Fiendish About Leverage?

LZ Granderson: I want to talk about debt. We've never been as in debt as we are now or the baby boomers just because of the size of the population, even though they came into a situation where they almost couldn't lose with things like at all time lows housing costs and interest rates. Even though they were in such an amazing situation they still ended up getting themselves extraordinarily in debt. LZ: What does it do for us that makes it so intoxicating? So leverage allows you to borrow future money to use now. It's kind of a trade off because you're actually in debt and now owe somebody you don't actually own the car. And the other point

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