Have you ever been $500,000 in debt, not counting your house? I have, and take my word for it–it’s hell. It’s a place you don’t want to go.
In 1999 I started my business while a college student. My partners and I secured some funding from family and friends, but it was on an equity basis, not debt (although I do plan on paying it all back someday and so I have chosen to turn it into debt). That business was sold in January of 2003, and I started over. Same business model, same website, but a different group of … Read the rest of this entry »
What is a linchpin anyway?
A linchpin, also spelled linch pin, lynchpin, or lynch pin, is a fastener used to prevent a wheel or other rotating part from sliding off the axle it is riding on. The word is first attested in the 14th century and derives from Middle English elements meaning “axletree pin”.
Well, now you know. Suffice it to say, you get rid of the linchpin and bad things happen…or do they?
I’m going to assume you’re already basically familiar with the Federal Reserve, aka The Fed. They’re the central bank of the United States. What’s a central … Read the rest of this entry »