miltiades wrote:Paphitis wrote:miltiades wrote:Paphitis wrote:Are we on the verge to seeing beautiful meltdowns like this?
The simple is because the General and the Bafoon are both fucking stupid. Apparently the General's accountant adviced him to hav3 more and more ....debt, he, the General still beli3ves that all of his debts are .....tax deductible.
What a pair of Plonkers
You claim to be an accountant!
Again, you are telling me it isn't good to have debt. I have never met an accountant that has said that to me.
I have also received financial advice from professional advisors, and they too have recommended I take on more debt.
You are no accountant bozo.
Some months ago, you got your arse handed to you by Boomerang.
Did you buy those Tesla shares yero. Oh that was bad luck wasn't it? Would have been great to borrow and buy some,
Listen you stupid boy. A debt is a LIABILITY NOT AN ASSET.
Individuals borrow money to buy a variety of things, be it a mortgage on a house, a new car or other personal goods. They borrow money because they do not have their own funds. Companies also borrow to finance their business,
Or a new business venture. Company debts should never be more than company's assets. Look boy, you live in a dream world, first you announce that you are a pilot, then you announce that you are in charge of the Syrian conflict and an expert on the EU as well as Brexit. Now you are telling us that Trump.has ....won the election. You are an immature boy, kniw fuck all about anything. As for Tesla, as every investor knows one can never get every thing right. I always aimed to achieve 6 out of 10. Right now I have just XRP for a long term inv3stement, besides I do not need money neither do I need to borrow. I own everything that I have. Recently sold an appartment in Limasol, the reason? In a years time I shall be able to buy a similar appartment at half price. The Cyprus market is saturated with real estate awaiting the Russians and Chinese to arrive. They will not, developers will be on their knees begging for your money. This pandemic is not about to end. By the way, will you be borrowing.money for your Cyprus developments ?
You are an idiot. Of course it’s a liability you silly fool. The debt is a liability. The cost of the debt is a tax deduction you dumb fart.
The thing you buy from using the debt, land or property is an asset. So it’s 2 entries. The debt in the liability column, but the property that is bought also goes in your asset column.
So if you borrow 80K and by a house that is worth 100k
Your liability is 80K and your asset is 100k
We don’t deposit anything because we have the security available to us. Therefore we can borrow 100% without insurance.
Simple enough for you.
The other thing is, whatever our costs are comes off the bottom line. So we claim it as an expense.
Debt is good because it allows us to expand our assets. In other words but something we can’t buy at the time because we don’t have the liquidity. It’s an important process that keeps us in business and moving.
Other times, we could use it to even pay plant and equipment, pay contractors, pay our bills so we can finish and push out to the market.
