A: I make no excuses or apologies for changing my mind. The world around me changes, for one thing, but also I am continuously learning. I have never finished my education and probably never will….
spending beyond income means borrowing, and all of economic history proves that too much borrowing is the core of economic disasters and chaos.
But there is a tendency — as I’ve suggested in answering all your questions — for people to expect the status quo either to last indefinitely or to provide advance signals for shifting strategies. The world does not work like that. Surprise and shock are endemic to the system, and people should always arrange their affairs to that they will survive such events. They will end up richer that way than [by] focusing all the time on getting rich.