Since loans are getting more expensive and there's less money available, we're seeing a commensurate decline in growth. Higher costs and lower growth, in turn, translate into lower profits. Figuratively speaking, in the future, we won't be able to run as far or jump as high as we used to.

For more than 3,000 years, China and India accounted for half of the world's economic output. But then the Industrial Revolution gave North America and Europe 150 golden years. If you take the long-term perspective, our economic dominance has been more of an exception than the rule.

Everything that individuals ever say or write can be used against them at a later point.

Asia has an army of low-wage laborers to thank for its economic boom.

It's completely legitimate for a company to continue striving for growth and higher profits. But business activities have to be conducted in a sustainable manner.

Since loans are getting more expensive and there's less money available, we're seeing a commensurate decline in growth. Higher costs and lower growth, in turn, translate into lower profits. Figuratively speaking, in the future, we won't be able to run as far or jump as high as we used to.

Debt is not intrinsically bad. But I make clear to my children that they should only borrow as much as they will be able to pay back.