Nassim Nicholas Taleb Quotes

Credit is a system whereby a person who can not pay gets another person who can not pay to guarantee that he can pay.

Whenever you borrow money, the people you borrow it from have leverage over you.

If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days.

I invested all my money in debt.

If you are a borrower, the more you borrow, the more it costs.

We borrowed money, it helped us with bonds and what not, and the Federal Government backed it, but it was a guarantee, it was not a grant. And we not only paid it off, but we paid it off ahead of time.

Before borrowing money from a friend it's best to decide which you need most.

Lenders look at potential borrowers from many angles before extending credit: How much of its income will a household need to put into debt repayment? How large is the down payment? Does the borrower have a job with a stable income? What is the borrower's credit score?

Borrowed money, even when owing to a nation by another nation, should be repaid. They hired the money, didn't they? Let them pay it.

The interesting thing about debt in most cases is that you have to pay it back. So if you build an overhang of debt, it becomes more and more limiting in terms of the prospect that you have.

When you take out a loan, what's your obligation other than paying it back? You have no other obligation.

In this business, if you don't pay your debts you're finished.

It's easy to get a loan unless you need it.

Credit is an 'I love debt' score.

So you know, everyone points out Greece's default record, but the history of a lot of sovereign nations is not a good one when it comes to lending them money.

A person who can't pay gets another person who can't pay to guarantee that he can pay. Like a person with two wooden legs getting another person with two wooden legs to guarantee that he has got two natural legs. It don't make either of them able to do a walking-match.

If you default on your Visa bill, nobody comes to repossess your refrigerator or auction off your shoes. The biggest penalty you'll face is trouble getting future credit.

If I had high-ticker 10 percent financing, which would probably be the market rate, I would have to dump stuff. The interest payments would be killing me.

In the old days, when you took out a mortgage, it was probably through a local bank or a credit union, and whoever gave you your loan held on to it for life. If you lost your job or got too sick to work and suddenly had trouble making your payments, you could call a human being and work things out.

Private student loans should be avoided at all costs.

Students graduating with high debt encounter difficulties in qualifying for home and automobile loans.

Secured cards can be helpful credit rebuilding tools for two reasons. First, because of the collateral, you can get them at a time when you're not likely to be approved for nonsecured cards. And as long as you maintain an on-time payment history, they can help you start to build a recent credit history that's fairly pristine.

Yes, Americans can still get credit for cars and trucks and refrigerators, and those businesses are doing well. But just try to get a home loan now.

Privacy is a vast subject. Also, remember that privacy and convenience is always a trade-off. When you open a bank account and want to borrow some money, and you want to get a very cheap loan, you'll share all details of your assets because you want them to give you a low interest rate.

A bank is a place that will lend you money if you can prove you don't need it.