Ernest Hemingway: Live on Borrowed Money
on Thursday, September 15, 2016Ernest Hemingway Money Quote saying indefinitely living on debt and using credit endlessly is not possible, but many do it quite well for short periods. Ernest Hemingway said:
“It is usually impossible for a large body of people to support themselves indefinitely by borrowing money, although a few people enjoy a great success at it for a time” — Ernest Hemingway
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In this quote, Ernest Hemingway is commenting on the unsustainability of relying on borrowing money as a means of long-term support or prosperity. His interpretation is that while some individuals may have short-term success borrowing large sums, it is generally not possible for large groups of people, like entire nations, to support their livelihoods primarily through accumulating debt over an extended period.
Hemingway seems to be suggesting that borrowing is not a stable economic foundation and is not viable as a substitute for self-sufficiency or real wealth-generation through production, trade and earnings over the long-run for large segments of the population.
Hemingway Birthday July 21, 1899 Death: July 2, 1961