Astounding how we convince ourselves (with help from institutional propaganda) that long-term debt equals long-term thinking.
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I think you’re underestimating the power of discounting. At the time debt seemed obviously worth it. Now I go back and forth day-to-day
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it seems to be more social proof in the US than anything.
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My choice of long-term debt (grad school) was lack of long-term thinking. If reality of debt was visceral not sure if I’d have done it.
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