Credit Quotes - Page 31

• If rather than setting the minimum balance as the lowest possible amount, so we keep people in debt for as long as possible, we raise the minimum payment and encourage people to pay off their credit cards, we're going to make less money, but we're going to have costumers that are more solvent.

  Richard Thaler

  Long, People, Balance

  "Big Think Interview With Richard Thaler". bigthink.com. June 19, 2009.

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• he card companies will often, as a courtesy, honor that credit card, but hit you with a penalty. And you keep swiping your card for $3 at Starbucks for your latté, and you're getting hit with a $25 penalty because it's over your credit limit.

  Richard Thaler

  Over You, Honor, Cards

  Source: bigthink.com

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• Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees.

  Richard Thaler

  Retirement, Debt, Cash

  Source: bigthink.com

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• No one should expect that any logical argument or any experience could ever shake the almost religious fervor of those who believe in salvation through spending and credit expansion.

  Ludwig von Mises

  Religious, Believe, Logical Arguments

  Ludwig Von Mises, Murray Newton Rothbard (1980). “Planning for freedom, and sixteen other essays and addresses”, Libertarian Press, Incorporated

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• Sometimes markets err big time. Markets erred when they gave America Online the currency to buy Time Warner. They erred when they bet against George Soros and for the British pound. And they are erring right now by continuing to float along as if the most significant credit bubble history has ever seen does not exist. Opportunities are rare, and large opportunities on which one can put nearly unlimited capital to work at tremendous potential returns are even more rare. Selectively shorting the most problematic mortgage-backed securities in history today amounts to just such an opportunity.

  Michael Burry

  Opportunity, America, Erring

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• The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You can push credit too far, do a dumb acquisition, leverage yourself excessively - it's not just derivatives [that can bring about your downfall].

  Charlie Munger

  Dumb, Buckets, Acquisition

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• Of course I'm troubled by huge consumer debt levels - we've pushed consumer credit very hard in the US. Eventually, if it keeps growing, it will stop growing. As Herb Stein said, "If something cannot go on forever, it will stop." When it stops, it may be unpleasant. Other than Herb Stein's quote, I have no comment. But the things that trouble you are troubling me.

  Charlie Munger

  Forever, Debt, Goes On

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• The key to writing for Richard (Pryor) was to just push his buttons and then know when to push the buttons on your cassette recorder. You'd get him started, then surreptitiously start recording when he got inspired and started walking around the room and improvising in character. Then you'd get it all transcribed and take credit for it.

  Alan Thicke

  Writing, Character, Keys

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• I'm constantly amazed that owners and managers of all businesses don't train their people to call the person who pays by credit card by name. It definitely makes the customer feel good and will be a factor in bringing them back to your place of business.

  Zig Ziglar

  Names, People, Feel Good

  "Zig On... Don't Miss This Opportunity" by Zig Ziglar on his web site, May 25, 2010.

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• Next time you're faced with a credit-purchase decision, wait. Don't say no necessarily. Just wait. I challenge you to present your need to the Lord before presenting it to a bank, and see what He does with it.

  Charles R. Swindoll

  Decision, Waiting, Challenges

  Charles R. Swindoll (2007). “So, You Want To Be Like Christ?: Eight Essentials to Get You There”, p.31, Thomas Nelson Inc

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• Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion; in short, protracted inflation.

  Ludwig von Mises

  Government, Rising Prices, Trying

  Ludwig Von Mises, Murray Newton Rothbard (1980). “Planning for freedom, and sixteen other essays and addresses”, Libertarian Press, Incorporated

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• Our contemporary brand of socialism has one fatal flaw. It's too expensive. When you try to shower benefits on so many recipients, you eventually must resort to subterfuge. Foremost among those tricks is money and credit expansion. Inevitably, you debase your currency.

  James Cook

  Trying, Benefits, Expansion

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• I was an advocate of the deregulation movement and I made - along with a lot of other smart people - a fundamental mistake. The financial industry undergirded the entire economy and if it is made riskier by deregulation and collapses in widespread bankruptcies as what happened in 2008, the entire economy freezes because it runs on credit.

  Bill O'Reilly

  Running, Mistake, Smart

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• I was an advocate of the deregulation movement and I made - along with a lot of other smart people - a fundamental mistake, which is that deregulation works fine in industries which do not pervade the economy. The financial industry undergirded the entire economy and if it is made riskier by deregulation and collapses in widespread bankruptcies as what happened in 2008, the entire economy freezes because it runs on credit.

  Richard Posner

  Running, Mistake, Smart

  "Reagan-Appointed Judge: Deregulation Movement Made ‘A Fundamental Mistake’". www.huffingtonpost.com. August 24, 2012.

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• We believe there should be a huge area between everything you should do and everything you can do without getting into legal trouble. I don't think you should come anywhere near that line. We don't deserve much credit for this. It helps us make more money. I'd like to believe that we'd behave well even if it didn't work. But more often, we've made extra money from doing the right thing. Ben Franklin said I'm not moral because of it's the right thing to do - but because it's the best policy.

  Charlie Munger

  Believe, Thinking, Lines

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• Ben Franklin and Samuel Johnson, he credits their wisdom for his success. "They were both utterly brilliant men. And powerful communicators. Both have helped me all the way through life. Their lessons are easy to assimilate."

  Charlie Munger

  Powerful, Men, Lessons

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• I have to give credit to my trainer. He definitely kept me motivated in staying in shape... I've always been naturally curvy, but of course I had to get used to being in the public eye.

  Kate Upton

  Eye, Giving, Shapes

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• What I've observed, and I think it's fair to give credit to the psychedelic experience for this, what I've observed is that nature builds on previously established levels of complexity.

  Terence McKenna

  Thinking, Giving, Levels

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• The 'public' has no history, has no future, lives in a golden moment created by credit, which binds them ineluctably to a fascist system that is never criticized. This is the ultimate consequence of having broken off this symbiotic relationship with the vegetable, feminine, maternal matrix of the planet.

  Terence McKenna

  Vegetables, Broken, Golden

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• Rather than rewriting the law under the pretense of interpreting it, the Court should have left it to Congress to decide what to do about the Act's limitation of tax credits to state Exchanges.

  Antonin Scalia

  Should Have, Law, Rewriting

  Antonin Scalia (2016). “Scalia's Court: A Legacy of Landmark Opinions and Dissents”, p.241, Regnery Publishing

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• Each economy relies on the credit system, that is, on the erroneous assumption that the other will pay back money pumped.

  Kurt Tucholsky

  Pay, Assumption, Economy

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• I am a most unhappy man. I accidentally ruined my country. A great industrial nation is now controlled by its system of credit. Our government is no longer based on the freedom of opinion, nor on the conviction and the majority decision, it is now a government which is subjected to the conviction and the compulsion of a small group of dominant men.

  Woodrow Wilson

  Country, Men, Decision

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• Even if Bush could be forgiven for taking America, and much of the rest of the world, to war on false pretenses, and for misrepresenting the cost of the venture, there is no excuse for how he chose to finance it. His was the first war in history paid for entirely on credit. As America went into battle, with deficits already soaring from his 2001 tax cut, Bush decided to plunge ahead with yet another round of tax "relief" for the wealthy.

  Joseph Stiglitz

  War, Cutting, America

  "The True Cost of 9/11" by Joseph Stiglitz, www.slate.com. September 1, 2011.

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• I can use my credit card to send money to the Ku Klux Klan, to antiabortion fanatics, or to anti-homosexual bigots, but I can't use it to send money to WikiLeaks. The New York Times published the same documents. Should we tell Visa and MasterCard to stop payments to the Times?

  Jeff Jarvis

  New York, Ku Klux Klan, Wikileaks

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• When a new writer comes onto a project, he'll make wholesale changes just to mark the territory or for greater credit.

  Jon Spaihts

  Territory, Projects, Wholesale

  Source: collider.com

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