Debt Quotes - Page 24

Charity is an eternal debt and without limit.

Debts are a heavy burden. Throw them off, and you walk free.

No government proposal more complicated than "This note is legal tender for all debts, public and private" ever works.

The ideas of debtor and creditor as to what constitutes a good time never coincide.

Bet on black. Buy low-debt or no-debt companies. When the economy is in trouble, these companies usually have enough cash on hand to stay out of trouble. And they seldom need to borrow when interest rates are high.

It doesn't worry me a bit that China and Japan hold so much US debt. In a way, it seems foolish for them to do it because they get lower returns than they might elsewhere. But that is their business.

Italy may well be the main problem. It has benefited most from the euro by having been able to get the euro interest rate instead of what otherwise would have been its own. That would be much higher because Italy has been accumulating so much debt. In the past, Italy has inflated away its debt. The virtue of the euro is that Italy can't do it alone. A tight ECB policy wouldn't permit that to happen again.

Stay on the path that the Democratic Party has us on, we're going to be in a mountain range of debt.

I've found that when you can quickly knock out debt you get motivated because you see progress. Then you attack the other debt so fast that even if it's at a higher interest rate, you don't end up paying much more because you've gotten rid of it.

You'll feel better when you get all that debt off your back.

If you'll have enough saved and nobody has to take on debt and you want to retire, shoot go for it.

We know intellectually that money can't buy happiness yet we spend and go into debt as if it does.

Many debt collectors offer a lump sum option so ask. And if you get it, make sure it's in writing and you keep the payoff statement FOREVER.

I just don't like people taking debt into retirement.

You still need to save but being debt-free in retirement is and should be a goal.

Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that's not permitted with student loans. So the effect is to impoverish many graduates with very high debts.

As you have to pay more interest and amortization on what you owe, you're left with less and less money to buy goods and services - unless you borrow even more and go further into debt.

Basically, unless you're willing to write down debts and save the economy, you're going to have deflation and a steady drain in purchasing power - that is, shrinking markets.

We're in a chronic debt-deflation. There's no way we can recover unless you write down the debts. And that's what the IMF basically is implying (and it was explicit regarding Greece), but its not spelling it out, because that's not what can be said in polite company.

Throughout history, the only way of restoring stability is to write down the debts. That is treated now as if it's something that can't be done. But it's the only thing that's going to revive the economy.

Paying debt service to banks leaves less income to buy goods and services.

The price decline is a result of having to pay debts. That drains income from the circular flow between production and consumption - that is, between what people are paid when they go to work, and the things that they buy.

The banks' product is debt. They try to tell customers that "debts are good for you," but the customers can't afford any more debt, so there's no way the banks can continue their current business plan.

More and more money is being extracted from of the production and consumption economy to pay the FIRE sector. That's what causes debt deflation and shrinks markets. If you pay the banks, you have less to spend on goods and services.

Stocks always go down much faster than they go up. That's why it's called a crash. People who put their money into the stocks will find, all of a sudden, that stock prices are no longer being supported by the debt leveraging that's been holding them up.