“Words change their meanings, just as organisms evolve. We would impose an enormous burden on our economy if we insisted on payment in cattle every time we identified a bonus as a pecuniary advantage (from the Latin pecus , or cattle, a verbal fossil from a former commercial reality).” IfsRealityEconomyAdvantageBurdenEnormousFormerEvolveLatinOrganismsFossilsPaymentCattleBonus Book:The Structure of Evolutionary Theory Source: The Structure of Evolutionary Theory
“You know what higher interest rates mean. To you it means a higher mortgage payment, a higher car payment, a higher credit card payment. To our economy, it means business people will not borrow as much money, invest as much money, create as many new jobs, create as much wealth, raise as many raises.” KnowsMeanJobsInterestWealthEconomyCarHigherRaisesRateCreditCardsPaymentMortgageCredit CardNew JobInterest RateCar Payments Author:William J. Clinton
“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.” GovernmentRunningProcessEconomyBalanceCircumstancesPressureEtcMore MoneyReservesSevereTaxationInflationDeficitPaymentMonetaryBorrowingFinancing Author:John James Cowperthwaite
“Student loan debt is crushing young people. And so they're not doing the things we would expect them to do. They're not moving out of their parents' homes in as big a numbers, they're not saving up money for down payments, they're not buying homes or cars or starting small businesses or doing any of the things that help move this economy forward.” PeopleHelpingHomeBigsMovingYoungParentNumbersEconomyCarStudentsStartingDebtSavingCrushBuyingSmall BusinessLoanPaymentStudent LoanMoving OutSaving UpParents HomeBuying A Home Author:Elizabeth Warren
“There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money.” PeopleReasonFormUsedPayEconomyProductsDirectAccountsProducersConsumersNo ReasonMassiveUnitsAdequatePaymentTransactionsComputingCentral Banks Author:Mervyn King