Borrowing Quotes - page 2
The growth in money and credit has outpaced both savings and economic growth. These inflationary pressures have been concentrated in asset prices, not consumer price inflation--keeping monetary policy too easy. This increase in asset prices has fueled domestic borrowing and spending. Government policy and the increase in securitization are largely responsible for this bubble. In addition to loose monetary policies by the Federal Reserve, government-sponsored enterprises Fannie Mae and Freddie Mac have contributed to the problem. The fourfold increases in their balance sheets from 1997 to 1998 boosted new home borrowings to more than $1.5 trillion in 1998, two-thirds of which were refinances which put an extra $15,000 in the pockets of consumers on average--and reduce risk for individual institutions while increasing risk for the system as a whole.
Ron Paul
Whether they run a record company or a grocery store, every boss will tell you you're in big trouble if you're borrowing more than you can ever afford to pay back. Delaying the pain for future generations is suicidal. We've got to start getting the deficit down right now, not next year.
Simon Cowell
The universe would have expanded in a smooth way from a single point. As it expanded, it would have borrowed energy from the gravitational field, to create matter. As any economist could have predicted, the result of all that borrowing, was inflation. The universe expanded and borrowed at an ever-increasing rate. Fortunately, the debt of gravitational energy will not have to be repaid until the end of the universe.
Stephen Hawking
The central idea is that government fiscal policy, its spending and taxing, its borrowing and repayment of loans, its issue of new money and withdrawal of money, shall be undertaken with an eye only to the results of these actions on the economy and not to any established traditional doctrine what is sound and what is unsound ...Government should adjust its rates of expenditure and taxation such that total spending is neither more or less than that which is sufficient to purchase the full employment level of output at current prices. If this means there is deficit, greater borrowing, "printing money," etc., then these things in themselves are neither good or bad, they are simply the means to the desired ends of full employment and price stability.
Abba Lerner
I have called these animals destriers, borrowing an old word for war-horses. I've given them clawed feet instead of hoofs because I think the genetic engineers will give them claws too. The horse's hoofs seem to be an evolutionary mistake. To speak in Lamarckian terms, the horse has lengthened its legs by standing on its toes until it has ended up standing on one toenail. [...] Cheetahs, wolves, and greyhounds all have nonretractile claws that serve them as their spikes serve runners and baseball players. Racehorses could not run as fast as they do if they did not wear aluminum or magnesium shoes.
Gene Wolfe
I was opposed to us going to Iraq from the very beginning. I really thought that there was no threat to our national security, I really thought that if we went into Iraq we would find ourselves in a civil war to which there would be no end, and I thought we had the military surveillance capability to see Iraq roll out any weapons of mass destruction and if they had done that we could have gone in and dealt with that. Afghanistan, originally, I was completely supportive of that. We were attacked, we attacked back. That's what our military is for and after about six months I think we had pretty effectively taken care of al Qaeda. But that was ten years ago! We're building roads, schools, bridges, and highways in Iraq and Afghanistan and we're borrowing forty-three cents out of every dollar to do that. In my opinion, this is crazy. And in looking at Libya right now... my opinion is I'm opposed to it A through Z.
Gary Johnson
Borrowing to build factories is not the economic equivalent of borrowing to buy television sets, and it's amazing just how few modern economists can see the difference...Borrowing to produce is the way poor countries become rich. Borrowing to consume is the way rich countries become poor. A vivid example of the latter is the stream of container ships unloading at U. S. ports and going back empty because we have nothing to ship.
Peter Schiff
This is the Court of Chancery, which has its decaying houses and its blighted lands in every shire, which has its worn-out lunatic in every madhouse and its dead in every churchyard, which has its ruined suitor with his slipshod heels and threadbare dress borrowing and begging through the round of every man's acquaintance, which gives to monied might the means abundantly of wearying out the right, which so exhausts finances, patience, courage, hope, so overthrows the brain and breaks the heart, that there is not an honourable man among its practitioners who would not give--who does not often give--the warning, "Suffer any wrong that can be done you rather than come here!"
Charles Dickens
Well, you have the public not wanting any new spending, you have the Republicans not wanting any new taxes, you have the Democrats not wanting any new spending cuts, you have the markets not wanting any new borrowing, and you have the economists wanting all of the above. And that leads to paralysis.
Michael Bloomberg
