--- title: "Meaning & Key Takeaway of: Greenspan advised the American people to…" description: "\"Greenspan advised the American people to buy - he repeated the old mantra: 'spending is patriotic'. He also managed to convince them that if they did n..." image: "https://sms4smile.com/quotes/i/2cb/gilad-atzmon-38763_american-people_greenspan-advised-the-american-people-to_2927874.png" --- # Greenspan advised the American people to buy - he repeated… ![“Greenspan advised the American people to buy - he repeated the old mantra: 'spending is patriotic'. He also managed to convince them that if they did not have the money, that shouldn't stop them. They would 'pay later'. To a certain extent he was correct, we are all having to 'pay later'... we may…” quote by Gilad Atzmon](https://sms4smile.com/quotes/i/2cb/gilad-atzmon-38763_american-people_greenspan-advised-the-american-people-to_2927874.png) [Download](https://sms4smile.com/quotes/i/2cb/gilad-atzmon-38763_american-people_greenspan-advised-the-american-people-to_2927874.png) [Open image](https://sms4smile.com/quotes/i/2cb/gilad-atzmon-38763_american-people_greenspan-advised-the-american-people-to_2927874.png) > “Greenspan advised the American people to buy - he repeated the old mantra: 'spending is patriotic'. He also managed to convince them that if they did not have the money, that shouldn't stop them. They would 'pay later'. To a certain extent he was correct, we are all having to 'pay later'... we may even never stop paying.” [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Encourages consumer spending despite financial strain, implying future debt accumulation **In simple terms:** Spend now, pay later Key Takeaway Consider long term debt impact Themes consumerism debt economic policy Mood cautious critical Type political economic When to use this quote - personal budgeting - government policy - financial planning - credit use Key Concepts Fiscal stimulus intertemporal choice Questions to Reflect On - How does “pay later” affect future financial stability? - What alternatives exist to stimulus spending? A Different Perspective Assumes continued ability to borrow, ignoring inequality ★ ★ ★ ★ ★ No ratings yet [American people](https://sms4smile.com/quotes/about/american-people/) [Customer](https://sms4smile.com/quotes/about/customer/) [Old man](https://sms4smile.com/quotes/about/old-man/) [Patriotic](https://sms4smile.com/quotes/about/patriotic/) [People](https://sms4smile.com/quotes/about/people/) ## Related quotes > [You have to pay attention to money, but it shouldn't be about the money.](https://sms4smile.com/quotes/tim-o-reilly/you-have-to-pay-attention-to-money-but-it-shouldn-t-be-about-the-money/) [Tim O'Reilly](https://sms4smile.com/quotes/author/tim-o-reilly/) > [“Only a prostitute will trade her valuables for money, so you shouldn't sell your God given ideas and talents for money, because you don't…](https://sms4smile.com/quotes/michael-bassey-johnson/only-a-prostitute-will-trade-her-valuables-for-money-so-you-shouldn-t/) [Michael Bassey Johnson](https://sms4smile.com/quotes/author/michael-bassey-johnson/) > [Money shouldn't be worshiped and it shouldn't be ignored.](https://sms4smile.com/quotes/alexa-von-tobel/money-shouldn-t-be-worshiped-and-it-shouldn-t-be-ignored/) [Alexa Von Tobel](https://sms4smile.com/quotes/author/alexa-von-tobel/) > [If you're trying to diet, what do you do? You grab your two friends and say, 'We're going to the gym; let's do this…](https://sms4smile.com/quotes/alexa-von-tobel/if-you-re-trying-to-diet-what-do-you-do-you-grab-your-two-friends-and/) [Alexa Von Tobel](https://sms4smile.com/quotes/author/alexa-von-tobel/) > [Most Americans agree that federal money, their tax money shouldn't be used to help pay for abortions.](https://sms4smile.com/quotes/reince-priebus/most-americans-agree-that-federal-money-their-tax-money-shouldn-t-be/) [Reince Priebus](https://sms4smile.com/quotes/author/reince-priebus/) > [Money shouldn't become the necessity of real woman's life. If she has money she spends it, when she is short of money she doesn't…](https://sms4smile.com/quotes/anonymous/money-shouldn-t-become-the-necessity-of-real-woman-s-life-if-she-has/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [If your purpose is to make money, you shouldn't get into writing.](https://sms4smile.com/quotes/amish-tripathi/if-your-purpose-is-to-make-money-you-shouldn-t-get-into-writing/) [Amish Tripathi](https://sms4smile.com/quotes/author/amish-tripathi/) > [Money is like gasoline during a road trip. You don't want to run out of gas on your trip, but you're not doing a…](https://sms4smile.com/quotes/tim-o-reilly/money-is-like-gasoline-during-a-road-trip-you-don-t-want-to-run-out-2/) [Tim O'Reilly](https://sms4smile.com/quotes/author/tim-o-reilly/) > [Money shouldn't be the driver for where you spend your time.](https://sms4smile.com/quotes/urijah-faber/money-shouldn-t-be-the-driver-for-where-you-spend-your-time/) [Urijah Faber](https://sms4smile.com/quotes/author/urijah-faber/) > [“Money, like a person whose first name is Money, shouldn’t be what you spend your time fantasizing about. And the same goes for goats…](https://sms4smile.com/quotes/jarod-kintz/money-like-a-person-whose-first-name-is-money-shouldn-t-be-what-you/) [Jarod Kintz](https://sms4smile.com/quotes/author/jarod-kintz/) > [In any area of human endeavour, there is going to be mediocrity. You're going to find people who get money that they shouldn't get.](https://sms4smile.com/quotes/bill-bryson/in-any-area-of-human-endeavour-there-is-going-to-be-mediocrity-you-re/) [Bill Bryson](https://sms4smile.com/quotes/author/bill-bryson/) > [“Money can make a difference. Money shouldn't make you any different.”](https://sms4smile.com/quotes/kim-kiyosaki/money-can-make-a-difference-money-shouldn-t-make-you-any-different/) Kim Kiyosaki > [Those that have less money shouldn't have their voices squelched.](https://sms4smile.com/quotes/andy-beshear/those-that-have-less-money-shouldn-t-have-their-voices-squelched/) [Andy Beshear](https://sms4smile.com/quotes/author/andy-beshear/) > [A lot of people like a lot of money. They shouldn't go into politics.](https://sms4smile.com/quotes/jose-mujica/a-lot-of-people-like-a-lot-of-money-they-shouldn-t-go-into-politics/) [Jose Mujica](https://sms4smile.com/quotes/author/jose-mujica/) > [If you would win a man to your cause, first convince him that you are his sincere friend.](https://sms4smile.com/quotes/abraham-lincoln/if-you-would-win-a-man-to-your-cause-first-convince-him-that-you-are/) [Abraham Lincoln](https://sms4smile.com/quotes/author/abraham-lincoln/) ## More by Gilad Atzmon > [“The overall U.S. homeownership rate increased from 64 percent in 1994 to a peak in 2004 with an all-time high of 69.2 percent. Real…](https://sms4smile.com/quotes/gilad-atzmon/the-overall-u-s-homeownership-rate-increased-from-64-percent-in-1994/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) > [American Jewry makes any debate on whether the ‘Protocols of the Learned Elders of Zion’ are an authentic document or a forgery irrelevant. American…](https://sms4smile.com/quotes/gilad-atzmon/american-jewry-makes-any-debate-on-whether-the-protocols-of-the/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) > [I began to practise day and night, and the more I did, the more I was overwhelmed by the tremendous achievement of that great…](https://sms4smile.com/quotes/gilad-atzmon/i-began-to-practise-day-and-night-and-the-more-i-did-the-more-i-was/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) > [Not only has my latest book, The Wandering Who?, rocked the boat, but it also has managed to unite Alan Dershowitz and Abe Foxman…](https://sms4smile.com/quotes/gilad-atzmon/not-only-has-my-latest-book-the-wandering-who-rocked-the-boat-but-it/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) > [“Unlike old-fashioned Britain, where Tony Blair recruited Lord Levy to encourage his 'Friends of Israel' to donate their money to a party that was…](https://sms4smile.com/quotes/gilad-atzmon/unlike-old-fashioned-britain-where-tony-blair-recruited-lord-levy-to/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) > [After one month with a saxophone shoved in my mouth, my military combatant's enthusiasm disappeared completely. Instead of flying choppers behind enemy lines, I…](https://sms4smile.com/quotes/gilad-atzmon/after-one-month-with-a-saxophone-shoved-in-my-mouth-my-military/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) > [An antisemite used to be someone who hates Jews; nowadays an antisemite is someone Jews hate.](https://sms4smile.com/quotes/gilad-atzmon/an-antisemite-used-to-be-someone-who-hates-jews-nowadays-an/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) > [“Democracy today, especially in the English-speaking world, is a political system that specialises in positioning inadequate, unqualified and dubious types in leadership positions.”](https://sms4smile.com/quotes/gilad-atzmon/democracy-today-especially-in-the-english-speaking-world-is-a/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) > [“A few years back, an American Jewish feminist academic sent me a request for an interview... The professor presented herself as a 'gender scholar',…](https://sms4smile.com/quotes/gilad-atzmon/a-few-years-back-an-american-jewish-feminist-academic-sent-me-a/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) > [“it was Greenspan who through some excessive deregulation prepared the monetary ground for the rise of the subprime mortgage companies: a lending market that…](https://sms4smile.com/quotes/gilad-atzmon/it-was-greenspan-who-through-some-excessive-deregulation-prepared-the/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) [Explore all 11 Gilad Atzmon quotes ](https://sms4smile.com/quotes/author/gilad-atzmon/) ## More American people quotes > [America is a democracy and has no Hitler, but I am afraid for her future; there are hard times ahead for the American people,…](https://sms4smile.com/quotes/albert-einstein/america-is-a-democracy-and-has-no-hitler-but-i-am-afraid-for-her/) [Albert Einstein](https://sms4smile.com/quotes/author/albert-einstein/) > [Believing with you that religion is a matter which lies solely between man and his God, that he owes account to none other for…](https://sms4smile.com/quotes/thomas-jefferson/believing-with-you-that-religion-is-a-matter-which-lies-solely/) [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) > [For as much as government can do and must do, it is ultimately the faith and determination of the American people upon which this…](https://sms4smile.com/quotes/anonymous/for-as-much-as-government-can-do-and-must-do-it-is-ultimately-the/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Given a choice between two bald political candidates, the American people will vote for the less bald of the two.](https://sms4smile.com/quotes/victor-gold/given-a-choice-between-two-bald-political-candidates-the-american/) Victor Gold > [When the American people saw the LA riots and crowds of Blacks cheering O.J. Simpson (who was acquitted by the almost all Black jury),…](https://sms4smile.com/quotes/david-duke/when-the-american-people-saw-the-la-riots-and-crowds-of-blacks/) [David Duke](https://sms4smile.com/quotes/author/david-duke/) > [In any event, it is one thing to assert, then or now, that the Iraq war was ill-advised. It is quite another to make…](https://sms4smile.com/quotes/laurence-silberman/in-any-event-it-is-one-thing-to-assert-then-or-now-that-the-iraq-war/) [Laurence Silberman](https://sms4smile.com/quotes/author/laurence-silberman/) > [Well look, CIA is an agency that has to collect intelligence, do operations. We have to take risks and it's important that we take…](https://sms4smile.com/quotes/leon-panetta/well-look-cia-is-an-agency-that-has-to-collect-intelligence-do/) [Leon Panetta](https://sms4smile.com/quotes/author/leon-panetta/) > [I don't know a politician who enjoys fundraising. The system is such that the American people have lost faith.](https://sms4smile.com/quotes/john-mccain/i-don-t-know-a-politician-who-enjoys-fundraising-the-system-is-such/) [John McCain](https://sms4smile.com/quotes/author/john-mccain/) > [Probably the greatest single obstacle to the progress and happiness of the American people lies in the willingness of so many men to invest…](https://sms4smile.com/quotes/john-d-rockefeller/probably-the-greatest-single-obstacle-to-the-progress-and-happiness/) [John D. Rockefeller](https://sms4smile.com/quotes/author/john-d-rockefeller/) > [If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets,…](https://sms4smile.com/quotes/henry-paulson/if-a-financial-institution-has-business-operations-in-the-united/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [The American people reject the idea of giving Washington a blank check to increase the debt limit.](https://sms4smile.com/quotes/martha-roby/the-american-people-reject-the-idea-of-giving-washington-a-blank/) [Martha Roby](https://sms4smile.com/quotes/author/martha-roby/) > [The coronavirus has yet again exposed the strong contrast between President Trump - who is working ardently for the American people - and a…](https://sms4smile.com/quotes/kayleigh-mcenany/the-coronavirus-has-yet-again-exposed-the-strong-contrast-between/) [Kayleigh McEnany](https://sms4smile.com/quotes/author/kayleigh-mcenany/) > [The American people demand results, not rhetoric, especially when it comes to national security issues.](https://sms4smile.com/quotes/j-d-hayworth/the-american-people-demand-results-not-rhetoric-especially-when-it/) [J. D. Hayworth](https://sms4smile.com/quotes/author/j-d-hayworth/) > [Hillary Clinton truly is sincere, but she has to connect more with the American people in terms of what she believes in and how…](https://sms4smile.com/quotes/nancy-pelosi/hillary-clinton-truly-is-sincere-but-she-has-to-connect-more-with-the/) [Nancy Pelosi](https://sms4smile.com/quotes/author/nancy-pelosi/) > [The American people are incredibly generous and even playful when you open yourself up and feed the media beast until it goes away satisfied.](https://sms4smile.com/quotes/krystal-ball/the-american-people-are-incredibly-generous-and-even-playful-when-you/) [Krystal Ball](https://sms4smile.com/quotes/author/krystal-ball/) [Browse all 2,233 American people quotes ](https://sms4smile.com/quotes/about/american-people/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Greenspan advised the American people to buy - he repeated the old mantra: 'spending is patriotic'. 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