Debt : The essence of wealth is ‘debt.’ Liabilities are regarded as debt capital and included as assets in accounting . Isn’t it odd? Debt is classified as an asset... The fundamental idea that currency is created based on the principle that debt arises is crucial. Debt can serve a positive purpose by lowering opportunity costs , but it can also be harmful if not repaid, as it deprives others of their opportunity costs since it must be paid back. Managing debt properly is essential for a company's capabilities in certain situations. Understanding others’ debts can help maintain good credit. However, there are limits to examining others’ debts. Instead, we can monitor the flow of money as an apparent interest rate. Therefore, recognizing and responding to interest rate fluctuations during economic activities is extremely important. - Joseph’s “just my thoughts”
Almost 90 years ago, Albert Einstein and Charlie Chaplin met at the premiere of the film “City Lights” in Los Angeles. Einstein said to Chaplin, “What I admire most about your art is its universality. You don’t say a word, yet the world understands you!” Chaplin replied, “True. But your glory is even greater! The whole world admires you, even though they don’t understand a word of what you say.” What is respect, and what is understanding?
- Joseph’s “just my thoughts”
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