Consequences Quote by Michael J. Knowles

Economic growth tends to require the taking of resources from the Earth. So something has to change on a debt-based economy.

— Gail Bradbrook

Debt is a drag, a reality you may experience with every credit-card bill you open. But for a corporation or a government, it can…

— Mark McKinnon

Debt is part of the human condition. Civilization is based on exchanges - on gifts, trades, loans - and the revenges and insults that…

— Margaret Atwood

Credit reproduces all the fundamental antagonisms of the capitalist world. It accentuates them. It precipitates their development and thus pushes the capitalist world forward…

— Rosa Luxemburg

Credit and debt keep us fixated on the past and the future.

— Mark Sundeen

The idea that debt is necessary for trade, and has to be forgiven, is consequent to the rise of a market economy. The idea…

— Jill Lepore

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

— Kurt Tucholsky

If the Nation is living within its income, its credit is good. If, in some crises, it lives beyond its income for a year…

— Franklin D. Roosevelt

It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the…

— Thomas Jefferson

Good debt growth is when you borrow money, and it goes into the real economy. You do capital spending. You build businesses.

— Stanley Druckenmiller

A debt is just as hard for a Government to pay as it is for an individual. No debt ever comes due at a…

— Will Rogers

Mathematically, debts grow exponentially at compound interest. Banks recycle the interest into new loans, so debts grow exponentially, faster than the economy can afford…

— Michael Hudson