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Borrowing Quotes

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Borrowing Quotes

“The fears of recession in the aftermath of Black Monday have turned to fears of the economy racing ahead too fast, with inflation edging up and a substantial current account deficit... People understandably feel more confident about their future than they've done for decades, but as a result they have been borrowing more and saving less... Coming on top of a massive income investment boom, it's all been just a bit too much of a good thing.”

“The fact that previous generations have handed down to us a substantial public heritage by way of roads, port, etc. almost completely free of debt, seems to me to impose some limitation on the validity of the theory that by borrowing we should, or could, pass on the burden of development to the next generation.”

“Deficit financing proper is rather the process whereby a Government spends more money that it withdraws from the economy by taxation, borrowing, running down reserves, etc.; thereby causing in most circumstances, and very acutely in ours, monetary inflation and severe pressure on the balance of payments.”

“People say I talk slowly. I talk in a way sometimes called laconic. The phone rings, I answer, and people ask if they've woken me up. I lose my way in the middle of sentences, leaving people hanging for minutes. I have no control over it. I'll be talking, and will be interested in what I'm saying, but then someone-I'm convinced this what happens-someone-and I wish I knew who, because I would have words for this person-for a short time, borrows my head. Like a battery is borrowed from a calculator to power a remote control, someone, always, is borrowing my head.”

“If the oarsmen of a fast-moving ship suddenly cease to row, the suspension of the driving force of the oars doesn't prevent the vessel from continuing to move on its course. And with a speech it is much the same. After he has finished reciting the document, the speaker will still be able to maintain the same tone without a break, borrowing its momentum and impulse from the passage he has just read out.”

“I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money. I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with the Congress for sitting idly by and permitting such an idiotic system to continue.”

“Never spend anything before thou have it; for borrowing is the canker and death of every man's estate.”

“The other day Aks and I went up to your ranch for a day's fishing. I cannot remember any day when we have had more fun on a stream. We had along with us three newspaper men and a few secret service people, many of whom had never seen a trout stream, so we did the thing up right by borrowing frying pans, bacon and corn meal from the wife of your rancher - and we cooked an outdoor meal for the crowd. It was really quite a day.”

“If the US government spends 40 percent of the nation's income, as it does through either borrowing or taxes, that income is not available for people to spend. The deficit is an indirect method of taxation. Of course, politicians prefer to borrow instead of tax because then someone down the road has to deal with the consequences.”

“By taking out a loan, I am committing myself to years of interest repayments, and therefore to years of wage slavery. And the UK has been borrowing like crazy since 1694, when the Bank of England was invented. This means that we are locked into high taxation to pay for 300 years of wars and other costly and generally disastrous state enterprises.”

“I studiously avoided all so-called "holy men." I did so because I had to make do with my own truth, not accept from others what I could not attain on my own. I would have felt it as a theft had I attempted to learn from the holy men and to accept their truth for myself. Neither in Europe can I make any borrowings from the East, but must shape my life out of myself-out of what my inner being tells me, or what nature brings to me.”

“I hope I need not confess that a large part of my stock in trade consists of platitudes rescued from the cobwebbed shelves of yesterday... This borrowing and refurbishing of shop-worn goods, as a matter of fact, is the invariable habit of traders in ideas, at all times and everywhere. It is not, however, that all the conceivable human notions have been thought out; it is simply, to be quite honest, that the sort of men who volunteer to think out new ones seldom, if ever, have wind enough for a full day's work.”

“Whether government finances its added spending by increasing taxes, by borrowing, or by inflating the currency, the added spending will be offset by reduced private spending. Furthermore, private spending is generally more efficient than the government spending that would replace it because people act more carefully when they spend their own money than when they spend other people's money.”