You are describing 99% of the (non-indigenous) people in Monaco and most of the other tax havens too—like Bermuda, Turks & Caicos, Bahamas, Cafayate Argentina, etc.. I assume that you would consider people who live in $25 million apartments and spend a million a month on their yachts “filthy rich.” Some of the yacht crews…Details
I will assume that you are in debt to a typical loan shark money lender in the Philippines. Let’s say that you borrowed 200 pesos for the week until payday when you will have to pay him 300 back. Yes, That outrageous rate of interest 50% a week is standard in the Philippines. The typical loan…Details
Take a guess! It doesn’t matter if it is a bank or any business. First: A good customer is always treated better than a bothersome tire kicker. [Beautiful I will get to next.] I sell a few of my books online now and then. I have one lady customer who insists upon being notified first…Details
Why is it that only poor people’s lives get devastated because of debt, while rich people having much higher debts are in a comparatively good state?
Poor people borrow to buy consumer goods, or in some cases to pay for medical emergencies, funerals and such. Overall, their borrowed money gains them no return on investment … It is immediately spent and gone forever —while their debt remains and grows. And grows. If the typical “poor person’s” debt is to be repaid,…Details