Yes, being a debt free millionaire is way better than being bankrupt, and living a monastic lifestyle sure beats being a drug addict or a prostitute, but going bankrupt and losing everything because he got burned using high interest 90 day loans with no guarantee of renewal like Dave did, then declaring that all debt is bad because of this and saying that 30 year fixed rate loans should be avoided, is like someone who goes out with an ex-con member of a biker gang - gets sexually assaulted by the gang - and then declares that sex is bad and no one should have sex.