When Are You ‘Broke’, And What To Do About It? 1
Most people have a tremendous fear to be broke, or to become broke at some point in their lives. But what does it actually mean, to be “broke”? And how can we prevent from getting to that point, where we have to call ourselves “broke”? When it comes to the understanding of many people, being broke means simply not having any money to spend.
This week, however, the Greek government agreed on radical savings measurements, which resulted in European Banks and the IMF to be willing to lend Greece an additional 3.2 billion Euros. Greece does not have any money to spend, else it wouldn’t need any additional loans, so in a sense Greece is as broke as one can get. Yet, the additional 3.2 billion Euros did something interesting: it saved Greece from bankruptcy.
Similarly, Donald Trump wrote in one of his books, that at some point in his life, he found himself being in dept so much, that he envied the homeless people on the street, who theoretically had more assets than himself, even if it were a few Dollars. Still, The Don is one of the richest men, and he didn’t end up on the streets.
So, there must be something else going on. Something beneath the surface, something secret.
Assets and liabilities Read the rest of this entry →
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