Career

Fortunately, or unfortunately, the business climate is always good for those who have a deal to promote. In times of recession or depression, unwise debt is encouraged by promoters who would give us the opportunity to supplement our inadequate means. During periods of prosperity and plenty, some try to convince us that then is the time to borrow, speculate, and move up to higher levels of living by riding the waves of a guaranteed prosperous tomorrow. How often do we hear, “I would have made it big if the economy had not slowed down”? History should have taught all of us that there is enough risk and uncertainty in normal or conservative investments to cause the cautious to rebel at the exorbitant returns offered by those who would have us “bet on the come.”

More often than not, those who can least afford to go into debt to provide funds for scheming money managers are those hurt the most when the day of final accounting arrives. It is true, getting into debt is a tanglesome web. — Marvin J. Ashton, Quorum of the 12 Apostles, This Is No Harm