Category: Reading Notes

Making money is easier in finance than in the real economy because finance is the channel and the real economy is the crop. When there’s no water in the fields, the channel may still hold some; when floods hit the fields, the channel fills up first.

The benefit? It always flows to the channel first — those closest to the water reap the moonlight.

If you have no savings, that’s being poor. If you live paycheck to paycheck, that’s being poor. If you’re spending money you don’t have yet, that’s being poor.

Why are poor people so afraid of illness? Because their finances are already stretched thin. Even when they’re healthy, they’re scraping by—and if they get sick, their health may hold, but their financial situation collapses first.

It’s hard to count on the poor to spend, or to make money off them.