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“When I had no money, I rented,”
New York University professor and “Black Swan” author Nassim Taleb giving some insight into his finances in a piece for Esquire this month.
“When I had no money, I rented,” he continued. “I have an allergy to borrowing and a scorn for people who are in debt, and I don’t hide it. I follow the Romans’ attitude that debtors are not free people.”
If you don't pay your debts, they don't turn you into a slave anymore. They just give you more credit cards after you declare BK.
Strategist saysIf you don't pay your debts, they don't turn you into a slave anymore. They just give you more credit cards after you declare BK.
Actually students are definitely slaves to their student loan debt. That shit follows you for life now and cannot be discharged, ever, except by dying.
Patrick saysStrategist saysIf you don't pay your debts, they don't turn you into a slave anymore. They just give you more credit cards after you declare BK.
Actually students are definitely slaves to their student loan debt. That shit follows you for life now and cannot be discharged, ever, except by dying.
The assumption could be......The education that increases your earning capacity acts as a lien for the student loans.
It could be, but that would sort of associate some responsibility on the school to do something that will increase your earning capacity. Instead, the 'education' part of the school is detached from the loans and the solicitation of alumni to sponsor new building projects and staff increases. If schools had to testify on penalty that they will increase earning capacity before the loan is approved, then there would be far fewer loans...
There's also the question of whether someone is actually fit to attend college (or has a real need to). I'm all for eliminating high schools, separating schools with sports teams from schools with academic focus, and requiring all students to have pretty advanced arts and humanities so those aren't separate disciplines of loan sharking.
Just ideas OOTB to think about...
“When I had no money, I rented,” he continued. “I have an allergy to borrowing and a scorn for people who are in debt, and I don’t hide it. I follow the Romans’ attitude that debtors are not free people.”
https://www.marketwatch.com/story/black-swan-author-claims-hes-never-borrowed-money-in-his-entire-life-2018-04-25