Wow, It Never Quits -- The Financially Illiterate, And Debt As Capital

This should have been added to my "BS" post on GDP and debt but it was too good to be lost in that post.

To re-fresh your memory, according to economists:

Debts owed to others are referred to as liabilities while a debt owed to ourselves is referred to as capital.

After thinking about that overnight, Occasional-Cortex is starting to look more brilliant than Krugman, et al. LOL.

And Gabelli calls her "financialy illiterate." I'm no longer so sure she stands alone. LOL.

I need to figure out how to increase my own capital by increasing the debt I owe myself. Two ways I suppose:

• take loans out on my insurance policies; and/or,
• take out loans on my Thrift Savings Program (TSP).

Insurance companies and the TSP allow one to take out loans against the capital, but the loans must be paid back at some interest rate (back to myself). Of course, the loans decrease the payout if I die before the debt is paid. Dave Berry, if so inclined, would have a field day with this.

This is so interesting. Taking loans against myself increases my capital but will not increase my net worth. 

Enough of this.

Need to move on to global warming. Snowing in Detroit today, did I hear that yesterday? Don writes from southern Minnesota (that would be the warm part of Minnesota):
We are getting a cold rain here today at 36 degrees and projected to get 4 inches of snow. It is so hot due to AGW that my furnace kicked on again this morning, and I do not mean the air conditioning.

LOL. Three full days to May and we're still getting snow in the lower 48. Yeah, that global warming is letting us down. Mother Nature truly has a sense of humor.