Sunday, February 8, 2009 – Debt


I hope that when I die, people say about me, “Boy, that guy sure owed me a lot of money.” ~ Jack Handey


The only thing I like about rich people is their money. ~ Nancy Astor


When a man is in love or in debt, someone else has the advantage. ~ Bill Balance


The impulse dances inside the debt. ~ Jareb Teague


Debts and lies are generally mixed together. ~ Rabelais


Avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts which unavoidable wars have occasioned, not ungenerously throwing upon posterity the burthen which we ourselves ought to bear. ~ George Washington


And to preserve their independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. ~ Thomas Jefferson


A national debt, if it is not excessive, will be to us a national blessing. ~ Alexander Hamilton


A public debt is a kind of anchor in the storm; but if the anchor be too heavy for the vessel, she will be sunk by that very weight which was intended for her preservation. ~ Charles Caleb Colton


Solvency is maintained by means of a national debt, on the principle, “If you will not lend me the money, how can I pay you?” ~ Ralph Waldo Emerson


Do not accustom yourself to consider debt only as an inconvenience; you will find it a calamity. ~ Samuel Johnson


Debt is to man what the serpent is to the bird; its eye fascinates, its breath poisons, its coil crushes sinew and bone, its jaw is the pitiless grave. ~ Edward Bulwer-Lytton


It would be easier to pay off the national debt overnight than to neutralize the long-range effects of our national stupidity. ~ Frank Zappa


Forgetfulness. A gift of God bestowed upon debtors in compensation for their destitution of conscience. ~ Ambrose Bierce


A habit of debt is very injurious to the memory. ~ Austin O’Malley


A man who pays his bills on time is soon forgotten. ~ Oscar Wilde


If you think nobody cares if you’re alive, try missing a couple of car payments. ~ Earl Wilson


Most men remember obligations, but are not often likely to be grateful; the proud are made sour by the remembrance and the vain silent. ~ William Gilmore Simms


Representation of wealth is not the wealth. We have forgotten this. We regard money as wealth and debt as money. ~ Peter Cajander


If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible – but there it is. ~ Robert Hemphill


When banks place credits into your account, they are merely pretending to lend you money. In reality, they have nothing to lend. Even the money that non-indebted depositors have placed with them was originally created out of nothing in response to someone else’s loan. So what entitles the banks to collect rent on nothing? It is immaterial that men everywhere are forced by law to accept these nothing certificates in exchange for real goods and services. We are talking here not about what is legal, but what is moral. ~ Edward Griffin


Live within your income, even if you have to borrow money to do so. ~ Josh Billings


Except for con men borrowing money they shouldn’t get and the widows who have to visit with the handsome young men in the trust department, no sane person ever enjoyed visiting a bank. ~ Martin Mayer