How is this possible?

[InDaShop]

Probably not exactly your friends case but a guy that I know here has been spending money like you talk about but he actually would pay for most of his stuff. I can't remember the correct term for it but recently the FBI got involved with him because he was just using different lenders to pay off the other lenders. And I'm talking into the tens of millions of dollars kind of debt. He would go to someone and pitch idea and make them money for a bit then get all greedy and spend too much then have to pay off with another lender/investor. Also helps when you know someone at the bank high up that gets kickbacks.

thats called a Ponzi.

 

[Juan_Hong_Loe]

thats called a Ponzi.

Thank you Wyatt! I've been racking my damn brain since I posted that!!!!

 

[Dwalk]

It's called "Living off other peoples money". Its a system that's not hard to figure out, just takes a lot of manipulating lies...

 

[drkelly]

Read the book 'The millionaire next door'. Those who look like they have money, usually don't. It is all debt.

 

[mna0121]

X2 on Millionaire Next Door, drive a POS put that payment in the bank, own the bank later....

 

[extremetownie]

Sound like Donald Trump.

 

[tledbetter]

:afro:

 

[ridered3]

Read the book 'The millionaire next door'. Those who look like they have money, usually don't. It is all debt.

Fitting song for that quote:

Brenn Hill: Debt - Live on Park City Television