<div dir="ltr"><div class="gmail_default" style="font-family:arial,helvetica,sans-serif"><span style="font-family:arial,sans-serif">On Fri, Jul 22, 2016 at 11:37 AM, William Flynn Wallace </span><span dir="ltr" style="font-family:arial,sans-serif"><<a href="mailto:foozler83@gmail.com" target="_blank">foozler83@gmail.com</a>></span><span style="font-family:arial,sans-serif"> wrote:</span><br></div><div class="gmail_extra"><div class="gmail_quote"><br><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><div dir="ltr"><div><span class=""><blockquote style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex" class="gmail_quote"><font size="4"><div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline">>> </div>A dollar today is worth more than a dollar tomorrow and you can borrow a dollar today at a lower interest rate than at any other time in the history of the USA, so I can sure think of a advantage to debt</font><font size="4" style="color:rgb(0,0,0);font-family:'comic sans ms',sans-serif;font-size:small">. </font></blockquote><font size="4" style="color:rgb(0,0,0);font-family:'comic sans ms',sans-serif;font-size:small"> </font></span><div style="color:rgb(34,34,34);font-family:arial,sans-serif;font-size:12.8px"><div style="font-family:arial,helvetica,sans-serif"><font size="4"><div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline">> </div>But why not just save?</font></div></div></div></div></blockquote><div><font size="4"><br></font></div><div><font size="4"><div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline"></div>Because<div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline"> a </div>dollar today is worth more than a dollar tomorrow<div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline">.</div></font></div><div> </div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><div dir="ltr"><div><div style="color:rgb(34,34,34);font-family:arial,sans-serif;font-size:12.8px"><div style="font-family:arial,helvetica,sans-serif"><font size="4"><div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline">></div> Why pay any interest? </font></div></div></div></div></blockquote><div><br></div><div><div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline"></div><font size="4">Because the people who loan you the money also know that<div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline"> </div>a<div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline"> </div>dollar today is worth more than a dollar tomorrow<div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline">, although for various reasons (one of which is almost certainly the very small government deficit) the interest rate today is the lowest in over 200 years. </div></font><br></div><font face="arial, helvetica, sans-serif" size="4"><br></font><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><div dir="ltr"><div style="color:rgb(34,34,34);font-family:arial,sans-serif;font-size:12.8px"><div style="font-family:arial,helvetica,sans-serif"><font size="4"><div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline">> </div>I would rather a company be owned by the people who made it great, not by the people who just supplied money. </font></div></div></div></blockquote><div><br></div><div><div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline"><font size="4">But who made the company great? Good ideas are a dime a dozen, and ideas that seem good but really aren't are even more common. In the early 20th century everybody knew the automobile was a really great idea, but hundreds of companies in the USA made cars, which one should you invest in? You'd better pick smart because although the industry has grown astronomically today only 3 companies have survived. In the late 1970s everybody knew a home computer was a great idea and the smart money said to take advantage of that by investing in IBM or ATT, but the really really smart money said Microsoft or Apple. </font></div></div><div><div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline"><font size="4"><br></font></div></div><div><div class="gmail_default" style="display:inline"><font size="4"><font face="arial, helvetica, sans-serif">A successful capitalist is someone who is skilled in asset management, and probably the most important part of that is knowing when to loan money and to who, and when to borrow money and from who. </font></font></div></div><div><font size="4"><br></font></div><div><font size="4"><div class="gmail_default" style="font-family:arial,helvetica,sans-serif;display:inline"> John K Clark</div> </font></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div> </div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><div dir="ltr"><div style="color:rgb(34,34,34);font-family:arial,sans-serif;font-size:12.8px"><div style="font-family:arial,helvetica,sans-serif"><font size="4">They get on the board and maybe direct policy in the wrong ways. </font></div><div style="font-family:arial,helvetica,sans-serif"><font size="4"><br></font></div><div style="font-family:arial,helvetica,sans-serif"><font size="4">bill w</font></div></div></div><div class="gmail_extra"><br><div class="gmail_quote"><div><div class="h5">On Thu, Jul 21, 2016 at 9:54 PM, John Clark <span dir="ltr"><<a href="mailto:johnkclark@gmail.com" target="_blank">johnkclark@gmail.com</a>></span> wrote:<br></div></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><div><div class="h5"><div dir="ltr"><span><div style="font-family:arial,helvetica,sans-serif"><span style="font-family:arial,sans-serif">On Thu, Jul 21, 2016 at 3:43 PM, William Flynn Wallace </span><span dir="ltr" style="font-family:arial,sans-serif"><<a href="mailto:foozler83@gmail.com" target="_blank">foozler83@gmail.com</a>></span><span style="font-family:arial,sans-serif"> wrote:</span></div></span><div class="gmail_extra"><div class="gmail_quote"><br><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><div dir="ltr"><span><span><blockquote style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex" class="gmail_quote"><font size="4"><div style="font-family:arial,helvetica,sans-serif;display:inline">> </div>Without debt Silicon Valley wouldn't exist, even renaissance Italy wouldn't have existed without its banks.</font></blockquote><div style="font-family:'comic sans ms',sans-serif;font-size:small;color:rgb(0,0,0)"><br></div></span></span><div style="font-family:'comic sans ms',sans-serif;font-size:small;color:rgb(0,0,0)"><div style="font-family:arial,helvetica,sans-serif;display:inline">> </div><span>OK - but when a company gets very large, say like GE, they can finance their own R and D without having to issue stocks</span></div></div></blockquote><div><br></div><div><font size="4"><div style="font-family:arial,helvetica,sans-serif;display:inline">GE stockholders are the people who own GE. Who would you rather own the company than the stockholders?</div> </font></div><div><br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><div dir="ltr"><div style="font-family:'comic sans ms',sans-serif;font-size:small;color:rgb(0,0,0)"><div style="font-family:arial,helvetica,sans-serif;display:inline">> </div>or bonds. True?</div></div></blockquote><div><font size="4"><br></font></div><div><font size="4"><div style="font-family:arial,helvetica,sans-serif;display:inline">It doesn't matter what I think, all I know is that the capitalists at GE issued 39 billion dollars of debt just last September.</div> </font></div><span><div> </div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><div dir="ltr"><div style="font-family:'comic sans ms',sans-serif;font-size:small;color:rgb(0,0,0)"> <div style="font-family:arial,helvetica,sans-serif;display:inline">> </div>In cases like this I see no advantage to debt.</div></div></blockquote><div><br></div></span><div><div style="font-family:arial,helvetica,sans-serif;display:inline"><font size="4">A dollar today is worth more than a dollar tomorrow and you can borrow a dollar today at a lower interest rate than at any other time in the history of the USA, so I can sure think of a advantage to debt. </font></div><font size="4"> </font></div><div><br></div><div><div style="font-family:arial,helvetica,sans-serif"> <font size="4">John K Clark</font></div><br></div><div><br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><br></blockquote></div><br></div></div>
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