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To put these complicated matters into very simple terms, you create a cycle virtually anytime you borrow money. Buying something you can’t afford means spending more than you make. You’re not just borrowing from your lender; you are
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“Early on in the top, some parts of the credit system suffer, but others remain robust, so it isn’t clear that the economy is weakening. So while the central bank is still raising interest rates and tightening credit, the seeds of the recession are being sown. The fastest rate of tightening typically comes about five months prior to the top of the stock market. The economy is then operating at a high rate, with demand pressing up against the capacity to produce. Unemployment is normally at cyclical lows and inflation rates are rising. The increase in short-term interest rates makes holding cash more attractive, and it raises the interest rate used to discount the future cash flows of assets, weakening riskier asset prices and slowing lending.”
― A Template for Understanding Big Debt Crises
― A Template for Understanding Big Debt Crises
“People think focus means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I'm actually as proud of the things we haven't done as the things I have done. Innovation is saying no to 1,000 things.”
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“I had learned already never to empty the well of my writing, but always to stop when there was still something there in the deep part of the well, and let it refill at night from the springs that fed it.”
― A Moveable Feast
― A Moveable Feast
“To be beautiful means to be yourself. You don’t need to be accepted by others. You need to accept yourself.”
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“Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life.
Almost everything--all external expectations, all pride, all fear of embarrassment or failure--these things just fall away in the face of death, leaving only what is truly important.
Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.
No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet, death is the destination we all share. No one has ever escaped it, and that is how it should be, because death is very likely the single best invention of life. It's life's change agent. It clears out the old to make way for the new.”
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Almost everything--all external expectations, all pride, all fear of embarrassment or failure--these things just fall away in the face of death, leaving only what is truly important.
Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.
No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet, death is the destination we all share. No one has ever escaped it, and that is how it should be, because death is very likely the single best invention of life. It's life's change agent. It clears out the old to make way for the new.”
―
Peter’s 2025 Year in Books
Take a look at Peter’s Year in Books, including some fun facts about their reading.
3 books
|
20 friends
2 books
|
13 friends
30 books
|
140 friends
0 books
|
21 friends
19 books
|
37 friends
8 books
|
54 friends
5 books
|
12 friends
0 books
|
6 friends
More friends…
Favorite Genres
Polls voted on by Peter
Lists liked by Peter
