[quote=davelj]
We are the equivalent of a struggling levered firm “gambling for resurrection” (to use an old LBO term) at this point. The first step is to stop gambling.
[/quote]
Dave: To use another relevant business term: Death Spiral. There is a considerable lack of understanding as to how debt really works, as evidenced by Brian’s facile remark about the money being cheap now. Yup, it is. But what if that changes? The more debt you have, the larger the debt service when interest rates rise and they inevitably will.
Kind of like Mr. Creosote and the mint in Monty Python’s “Meaning of Life”.
