People do use loans for all kinds of reasons, and they do not necessarily rely on a gullible friend/relative to give them preferential terms. We have an over indebted society, and part of the reason is that debt is cheap and it also reflects various ways that the dollar (and other fiats) has been undermined through the years and even debased through the issuance of debt.
Just because the debt system is a bad system for society, rich people use debt to their advantage, and getting cheap debt can frequently allow for way more money to be made, as long as you know how to use debt in a way that you are finding higher returns on your money and that you are not putting yourself into a place in which you are not able to pay back the loan and/or that you might even put collateral into jeopardy if you are not using the debt in profitable and prudent ways.
Debt will only be encouraging to me is if the person plan to make use of that money properly like to start up a business with high chances of being successful over time
Justifying the debt can be the same no matter the purpose, and so surely one thing about a business is that you may or may not be including your own labor into the package, and some people start up businesses because that they consider that they would be able to make more money with their own labor mixed into it as compared with working for someone else, so surely there can be potentials for cashflow that comes from infesting into a business, but also the leveraging of ones own labor. Of course, self-started businesses are not always successful
Very true, most of this guy's that venture into business don't think about their own effort, they just believes that even though it can even be more stressful, as long as they can make more money, they will be fine, not knowing that not all business flourish in first try, I think I have said this before that taking a loan to expand an already existing business is a more logical decision than starting a new one because you already knows what to expect from the business unlike when you are starting
afresha new one, but no matter what, it's not an entirely a wrong idea if your ability to pay back the loan doesn't depends on the outcome of the business or your investment .