Credit Abuse Quotes

Credit is of pernicious consequence to that Nation, that uses or encourages it beyond Nature.

Some borrowers are pretty damn good at fraud.

We spend our way to the poorhouse. We buy giant TVs and iPads. Our children wear nice clothes thanks to high-interest credit cards and payday loans. We purchase homes we don't need, refinance them for more spending money, and declare bankruptcy, often leaving them full of garbage in our wake. Thrift is inimical to our being.

Money values do not simply mirror the state of affairs in the real world; valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion; that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit.

Footballers are an easy target. They are offered big lines of credit. Every sport is vulnerable; it's such a big gambling industry, and there are problems with syndicates in other countries.

The bankers might not have said it in so many words, but gradually their strategy emerged: Target families who were already in a little trouble, lend them more money, get them entangled in high fees and astronomical interest rates, and then block the doors to the bankruptcy exit if they really got in over their heads.

If you waive loans, it will encourage everyone to opt for more as they think they can get away with it in future.

Jew storekeepers have already learned the advantage to be gained from this [unlimited credit]: they lead on the farmer into irretrievable indebtedness, and keep him ever after as their bondslave hopelessly grinding in the mill.

THERE is widespread agreement among economists that abuse of credit constitutes one of the chief unwholesome elements in business booms and is mainly responsible for the ensuing crash and depression.

There are a set of men who go about making purchases upon credit, and buying estates they have not wherewithal to pay for; and having done this, their next step is to fill the newspapers with paragraphs of the scarcity of money and the necessity of a paper emission, then to have a legal tender under the pretense of supporting its credit, and when out, to depreciate it as fast as they can, get a deal of it for a little price, and cheat their creditors; and this is the concise history of paper money schemes.

People get into debt head over heels because banks make it so easy to do so. Then the banks come along and act like these people who can't or won't pay their bills are the dregs of society.

Give a man a fish and he'll eat for a day. Give a man a sub-prime fish loan and you're in business, buddy.