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Quote by Hendrith Smith

“Debt is just as dangerous in business as it is in personal finance. Entrepreneurs need to be careful not to cripple the businesses they lead with debt. Because one thing debt does well is cripple it's host.”

Quote by Hendrith Smith

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Hendrith Smith

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“A false alarm is sounded that government budget deficits will increase consumer prices — with no discussion of how private-sector credit deflates economies. The problem is that credit is debt — and paying debt service to bankers and bondholders (and various grades of loan sharks) leaves less income available to spend on goods and services. So debt deflation is today’s major problem, not inflation.”

Finance CapitalismDebt DeflationMmtModern Monetary TheoryPrice InflationPrivate DebtPublic SpendingRentier
Book:The Bubble and Beyond
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“In 1995 Bank of America issued a famous report on sprawl in California. The bank pronounced: 'Urban job centers have decentralized to the suburbs. New housing tracts have moved even deeper into agriculturally and environmentally sensitive areas. Private auto use continues to rise. This acceleration of sprawl has surfaced enormous social, environmental, and economic costs, which until now have been hidden, ignored, or quietly borne by society.”

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Book:Building Suburbia: Green Fields and Urban Growth, 1820-2000
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“Sociologists point out that the suburbs have done an efficient job of sorting people into communities where they will be surrounded by people of the same socioeconomic status. Meanwhile, the architectures of sprawl inhibit political activity that requires face-to-face interaction. It is not that sprawl makes political activity impossible, but by privatizing gathering space and dispersing human activity, sprawl makes political gatherings less likely.”

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Book:Happy City: Transforming Our Lives Through Urban Design
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