Best 772 quotes in «debt quotes» category

[A man] finds himself forced by necessity to borrow money. He knows that he will not be able to repay it, but sees also that nothing will be lent to him unless he promises stoutly to repay it in definite time. He desires to make this promise, but he has still so much conscience as to ask himself: Is it not unlawful and inconsistent with duty to get out of a difficulty in this way? Suppose, however, that he resolves to do so, then the maxim of his action would be expressed thus: When I think myself in want of money, I will borrow money and promise to repay it, although I know that I never can do so. Now this principle of self-love or of one's own advantage may perhaps be consistent with my whole future welfare; but the question now is, Is it right? I change then the suggestion of self-love into a universal law, and state the question thus: How would it be if my maxim were a universal law? Then I see at once that it could never hold as a universal law of nature, but would necessarily contradict itself. For supposing it to be a universal law that everyone when he thinks himself in a difficulty should be able to promise whatever he pleases, with the purpose of not keeping his promise, the promise itself would become impossible, as well as the end that one might have in view in it, since no one would consider that anything was promised to him, but would ridicule all such statements as vain pretenses.

And don't tell me debt is not a big deal. Debt will cut off your legs and laugh at you as you grovel in the dirt begging for mercy. If you don't need it, don't get it. If you can't afford it, don't get it. If you're already in debt, get out quickly. If you think you'll never get out, you're right, you won't.

An entrepreneur in debt is an entrepreneur in business.

An honest man is a debtless man, he doesn't owe anyone anything.

A poor man without a debt smiles often than a rich man in debt.

A promotion is an illusionary solution out of an indebted employee’s pit of debt.

Before you start feeling bad about yourself for your debt, this would be a good moment to remind yourself that money doesn't exist--it's just a system of value exchange. That's it. Pure and simple. So, if you have debt, you've received value and you've not given the equivalent value back to the particular party in the exchange yet. That's all it means. It doesn't mean you're a bad person. It doesn't mean you're a screwup. You're not hopeless. You're not a mess. You simply have more value to give.

Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create deposits, and with a flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of the bankers and pay the cost of your own slavery, let them continue to create deposits.

Are you willing to accept anything less than the credit you want, the credit you need and the credit you deserve?

Being instinctively lazy, I see no point in working longer hours just to get out of debt !

Beyond the speculative and often fraudulent froth that characterizes much of neoliberal financial manipulation, there lies a deeper process that entails the springing of ‘the debt trap’ as a primary means of accumulation by dispossession. Crisis creation, management, and manipulation on the world stage has evolved into the fine art of deliberative redistribution of wealth from poor countries to the rich. I documented the impact of Volcker’s interest rate increase on Mexico earlier. While proclaiming its role as a noble leader organizing ‘bail-outs’ to keep global capital accumulation on track, the US paved the way to pillage the Mexican economy. This was what the US Treasury–Wall Street–IMF complex became expert at doing everywhere. Greenspan at the Federal Reserve deployed the same Volcker tactic several times in the 1990s. Debt crises in individual countries, uncommon during the 1960s, became very frequent during the 1980s and 1990s. Hardly any developing country remained untouched, and in some cases, as in Latin America, such crises became endemic. These debt crises were orchestrated, managed, and controlled both to rationalize the system and to redistribute assets. Since 1980, it has been calculated, ‘over fifty Marshall Plans (over $4.6 trillion) have been sent by the peoples at the Periphery to their creditors in the Center’. ‘What a peculiar world’, sighs Stiglitz, ‘in which the poor countries are in effect subsidizing the richest.

Campaign donors buy a get out of jail pass... essentially, fraud has been decriminalized.

Blood is the currency of life, to spill blood is to create debt. Water is the lifeblood of the Earth. To poison the water is to create an unpayable debt resulting in the loss of life of all living things,

Declined. I went inside to pay cash. This had happened before, but not often. There was something about that word that sucked the self-respect out of your soul. This time it sucked out all my hope as well.

[Credit is a system whereby] a person who can't pay, gets another person who can't pay, to guarantee that he can pay.

Debt is great source of inner unhappiness.

Debt is a four letter word and means a four word sentence - Be Prepared for Trouble.

Debt on anything that depreciates is disastrous. #financialfitness

Debt means enslavement to the past, no matter how much you want to plan well for the future and live according to your own standards today. Unless you're free from the bondage of paying for your past, you can't responsibly live in the present and plan for the future.

Debt trap can sometimes become a Death trap.

Don't take on more student loans than your future-self can handle.

Do not make people feel overly indebted to you. In their quest to restore the illusive balance and wipe out the debt, they will demonize and attribute wrongdoings to you. Instead, give with love and receive with gratitude.

Even in the Bible, the admonition in the Ten Commandments not to 'covet thy neighbor's wife' clearly referred not to lust in one's heart (adultery had already been covered in commandment number seven), but to the prospect of taking her as a debt-peon—in other words, as a servant to sweep one's yard and hang out the laundry.

Do you have to regret spending money when you earn money? And when it is time to spend, you should be strong that you got the opportunity to pay off your debt. Income is one’s responsibility and expense is the means to clear off the responsibility.

He was out to get back everything he'd lost; there was no end to his loss; this thing would drag on forever.

Every time you borrow money, you're robbing your future self.

Financial fitness is not pipe dream or a state of mind it's a reality if you are willing to pursue it and embrace it.

...freedom is of more account than the height of a roof beam. I ought to know; mine cost me eighteen years' slavery. The man who lives on his own land is an independent man. He is his own master. If I can keep my sheep alive through winter and can pay what has been stipulated from year to year - then I pay what has been stipulated; and I have kept my sheep alive. No, it is freedom that we are all after, Titla. He who pays his way is a king. He who keeps his sheep alive through the winter lives in a palace.

Focusing only on the short term puts us in a position to make bad choices. We ignore all other factors that lead to the overall value of the loan in order to achieve that one singular goal now—whether the goal is a lower payment, a lower interest rate, or a dream home. In the long term, this always proves to be costly.

God was inviting me to go on Hajj, but before that I needed to settle my debts. Muslims may only embark on their pilgrimage if they are debt-free or at least have made an arrangement for repayment.

Here is an equation worth remembering: Five dollars earned minus seven dollars spent = Unhappy Life." (Life Hacks, p.51)

His mind filled with visions of a decadent kleptocracy in rapid decline, abetted by both political parties. America's masses, fed on processed poison bought with a food stamp swipe card. Low-skill workers, structurally unable to ever contribute again and too dumb to know their old jobs weren't coming back. The banks in Gotham leaching the last drops of wealth out of the country. Corporations unrestrained by any notion of national interest. The system of property law in shambles. The world drowning in debt.

I am not speaking strictly of slavery here, but of that process that dislodges people from the webs of mutual commitment, shared history, and collective responsibility that make them what they are, so as to make them exchangeable--that is, to make it possible to make them subject to the logic of debt. Slavery is just the logical end-point, the most extreme from of such disentanglement. But for that reason it provides us with a window on the process as a whole. What's more, owing to its historical role, slavery has shaped our basic assumptions and institutions in ways that we are no longer aware of and whose influence we would probably never wish to acknowledge if we were. If we have become a debt society, it is because the legacy of war, conquest, and slavery has never completely gone away. It's still there, lodged in our most intimate conceptions of honor, property, even freedom. It's just that we can no longer see that it's there.

I am indebted to my father for living, but to my teacher for living well. {His teacher was the legendary philosopher Aristotle}

If you don't take good care of your credit, then your credit won't take good care of you.

I don't want to spend the rest of my life paying off loans when I don't even like school to begin with.

If Congress has the right under the constitution to issue paper money, it was given them to be used by themselves, not to be delegated to individuals or corporations.

If repairing one's credit is as easy as sending some dispute letters to the credit bureaus then why doesn't everyone have good credit?

If I owe a person money, and cannot pay him, and he threatens to put me in prison, another person can take the debt upon himself, and pay it for me. But if I have committed a crime, every circumstance of the case is changed. Moral justice cannot take the innocent for the guilty even if the innocent would offer itself. To suppose justice to do this, is to destroy the principle of its existence, which is the thing itself. It is then no longer justice. It is indiscriminate revenge.

If you commit to giving more time than you have to spend, you will constantly be running from time debt collectors.

I have a car again! Top of the list, easily. It’s the American dream. The attendant debt is also part of the dream, I suppose. Americans have weird dreams, when you get right down to it.

I love America for its bourgeois comfort. If I was as heavily in debt as they are, I wouldn't be drinking tea or coffee anywhere. I would be sipping tap water from an old bottle and serving others tea or coffee in a cafe somewhere.

I looked into her eyes, and saw my own staring back, the same peculiar shade, pale grey, flecked with yellow, rimmed with black. Now I knew the nature of her debt. It had weighed on her conscience for fourteen years. I was looking into the eyes of mother and I knew that I would never see her again.

In fact this is precisely the logic on which the Bank of England—the first successful modern central bank—was originally founded. In 1694, a consortium of English bankers made a loan of £1,200,000 to the king. In return they received a royal monopoly on the issuance of banknotes. What this meant in practice was they had the right to advance IOUs for a portion of the money the king now owed them to any inhabitant of the kingdom willing to borrow from them, or willing to deposit their own money in the bank—in effect, to circulate or "monetize" the newly created royal debt. This was a great deal for the bankers (they got to charge the king 8 percent annual interest for the original loan and simultaneously charge interest on the same money to the clients who borrowed it) , but it only worked as long as the original loan remained outstanding. To this day, this loan has never been paid back. It cannot be. If it ever were, the entire monetary system of Great Britain would cease to exist.

In 1987 Senator Jesse Helms, stated "it is no secret that the international bankers profiteer form sovereign state debt. The New York banks have found important profit centers in lending to countries plunged into debt by Socialist regimes. Under Socialist regimes, countries go deeper and deeper into debt because Socialism as an economic system does not work. International bankers are sophisticated enough to understand this phenomenon and they are sophisticated enough to profit from it.

It is easier for people to accept slavery if they realize that they actually have paid for it. - On Slavery.

In short, if you are using a shovel to dig yourself into a hole, a credit card company will be happy to give you a backhoe.

Isn't it sad that we have to gain control of the artificial numbers placed upon us by others to regain some control of our lives?

In many cases, it was the woman’s stomach—not her heart—that fell for her man.

In some cases, it is the woman’s stomach—not her heart—that has left her man for another.