I keep seeing people say Kanye is still filthy rich even though he is $53 million in debt
Can /biz/ explain this?
If the value of his assets outweigh his debt then hes net positive
Also kanye can make millions per night touring so 53 million in debt would be him doing 2 hour sets for like a month straight red eye concert series
Yeah, borrowing against your assets is a good way to spend tax-free.
For example, if I have long term assets sitting in an investment account and sell them to get spending money, I would pay taxes on capital gains (i believe).
Being rich with good income, Kanye can get low interest rates to spend with, so he can get a loan, and spend less than if he were to sell his assets and spend his own money.
Is this what it means to live in a debt economy? Do we live in the fucking matrix?
>pay 37,000 buttcoins for ooga booga jungle noise
>get ripped off