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Just my thoughts #0571

A ‘transaction’ is an act of debt between parties. The seller owes goods to the buyer (performance debt), and the buyer owes money to the seller (monetary debt). A transaction is considered complete when the debt is settled and the promise to owe each other is called a ‘contract.’ Thus, a good trader or businessman excels at making and repaying debts. When it comes to debt, the type of debt matters. Anyone who misjudges this should not engage in business. - Joseph’s “just my thoughts”
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Just my thoughts #0414

As Ernst Gombrich stated, humans do not draw what they see, but rather what they know. They identify differences and interpret them as new based on the patterns embedded in their existing knowledge systems. Therefore, prior knowledge plays a crucial role in accepting new information. Humans do not truly feel or understand what they observe; instead, they feel and perceive only to the extent of their knowledge.


- Joseph’s “just my thoughts”




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