Quoty: quotes tagged with 'debt'

Interest never sleeps nor sickens nor dies; it ...

Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation; it never visits nor travels; it takes no pleasure; it is never laid off work nor discharged from employment; it never works on reduced hours; it never has short crops nor droughts; it never pays taxes; it buys no food; it wears no clothes; it is unhoused and without home and so has no repairs, no replacements, no shingling, plumbing, painting, or whitewashing; it has neither wife, children, father, mother, nor kinfolk to watch over and care for; it has no expense of living; it has neither weddings nor births nor deaths; it has no love, no sympathy; it is as hard and soulless as a granite cliff. Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders; and whenever you get in its way or cross its course or fail to meet its demands, it crushes you. (in Conference Report, Apr., 1938, p. 103.)

Author: President J. Reuben Clark, Source: http://www.lds.org/ldsorg/v/index.jsp?hideNav=1&locale=0&sourc...
Saved by mlsscaress in debt interest weight economic dependence debilitate

Of all the enemies to public liberty war is, pe...

Of all the enemies to public liberty war is, perhaps, the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes..., known instruments for bringing the many under the domination of the few.... No nation could preserve its freedom in the midst of continual warfare.

Author: James Madison, Source: Political Observations, 1795
Saved by jordy in liberty slavery war foreignpolicy debt taxes warfare

The final maka-feke I wish to mention today is ...

The final maka-feke I wish to mention today is one which can crush our self-esteem, ruin relationships, and leave us in desperate circumstances. It is the maka-feke of excessive debt. It is a human tendency to want the things which will give us prominence and prestige. We live in a time when borrowing is easy. We can purchase almost anything we could ever want just by using a credit card or obtaining a loan. Extremely popular are home equity loans, where one can borrow an amount of money equal to the equity he has in his home. What we may not realize is that a home equity loan is equivalent to a second mortgage. The day of reckoning will come if we have continually lived beyond our means.
Author: Thomas S. Monson, Source: http://lds.org/ldsorg/v/index.jsp?vgnextoid=2354fccf2b7db010Vg...
Saved by cboyack in debt consumerism loan mortgage heloc

BYU 21st Stake Goals STAY ON THE PATH - 1 Nephi...

BYU 21st Stake Goals
STAY ON THE PATH - 1 Nephi 8:20
1 - Study the scriptures each day and read each month's Ensign, seeking to develop spiritual strength & wisdom
2-Pray vocally with sincerity and faith each morning and night, and always have a prayer in your heart.
3-Keep the entire Sabbath day holy, attend all church meetings, and renew your spiritual covenants.
4-Magnify your church callings, fully sustain all others in their callings, and help build the Kingdom of God.
5- Pay tithes and offerings, manage money wisely, avoid materalism and needless debt, and be self-reliant.
6- Attend the temple frequently, keep all temple covenants, and work to unite an seal all members of your family.
7- Earnestly seek to find and love a righteous companion, and worthily prepare to create a strong eternal family.
8- Keep your mind clean and virtuous, and avoid all media that offends and drives away the Spirit.
9- Treat your body as the temple of your spirit, dress modestly, avoid immoral behavior, and maintain good health.
10 - Organize yourself, establish proper priorities, and find way to do good and serve others.

Author: BYU 21st Stake Presidency, Source: Stake Conference BYU21st Stake - October 3 & 4, 2007
Saved by mlsscaress in priorities media spirit strength scriptures tithing wisdom magnify behavior love debt materialism family prayer sabbath study less clean health eternal serve ensign vocal virtuous modest organize

Most unquestionably there is no legal tender, a...

Most unquestionably there is no legal tender, and there can be no legal tender in this country, under the authority of this government or any other, but gold and silver, either the coinage of our own mints, or foreign coins, at rates regulated by Congress. This is a constitutional principle, perfectly plain, and of the very highest importance. The States are expressly prohibited from making anything but gold and silver a tender in payment of debts; and, although no such express prohibition is applied to Congress, yet, as Congress has no power granted to it, in this respect, but to coin money, and to regulate the value of foreign coins, it clearly has no power to substitute paper, or anything else, for coin, as a tender in payment of debts and in discharge of contracts.
Author: Daniel Webster, Source: Great Debates In American History, Vol. 13, p. 113
Saved by cboyack in constitution money gold debt currency tender coin dollar silver

You and I, as individuals, can, by borrowing, l...

You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we're not bound by that same limitation?
Author: Ronald Regan First Inagural Address, January 20, 1981, Source: http://www.millercenter.virginia.edu/scripps/digitalarchive/sp...
Saved by rpage in liberty freedom president debt economics ronaldregan

Learning to think like a wise steward as oppose...

Learning to think like a wise steward as opposed to thinking like a selfish owner is a significant step toward understanding how liabilities can be used productively. Since nothing can ever be technically yours, the goal becomes to make the best use of every resource you have access to, because you understand that you will be held accountable for your productivity, or lack thereof.
Author: Garrett B. Gunderson, Source: Killing Sacred Cows
Saved by rpage in debt economics finances

Consider this deeply: if it�s true that debt i...

Consider this deeply: if it�s true that debt is any form of borrowing, and it�s true that debt is evil, then why do we say one thing and do another every day of our lives? In other words, why do we try to stay out of debt ourselves, yet then put money in banks and other financial institutions (i.e. lend them our money), thereby putting the financial institutions in debt? Isn�t that the epitome of hypocrisy�having others do things for us that we think are evil? If it�s true that any form of borrowing is debt, and that it is evil, then to stay true to ourselves and keep our integrity, none of us should practice any form of it, neither by borrowing ourselves nor by lending money to other people and/or institutions . . .

(continued later on)

I want to be very clear about this�I�m not advising people to go out and buy houses, cars, or anything else just to be �abundant.� I�m saying that your paradigm makes all the difference between poverty and mediocrity or wealth, and that amazing things happen when we break through scarcity-induced myths and enter the world of true and responsible abundance. My own life is a witness to the fact that when we switch from ridding ourselves of liabilities and focus instead on productivity, our entire outlook and results change dramatically for the better.
Author: Garrett B. Gunderson, Source: Killing Sacred Cows
Saved by rpage in debt economics finances

Many more people could ride out the storm-tosse...

Many more people could ride out the storm-tossed waves in their economic lives if they had their year's supply of food and clothing and were debt free.

Many today have followed this counsel in reverse. They have at least a year's supply of debt and are food free.
Author: Thomas S. Monson, Source: http://ce.byu.edu/cw/womensconference/archive/2001/monson_thom...
Saved by cboyack in preparedness food debt yearsupply

Remember this: debt is a form of bondage. It is...

Remember this: debt is a form of bondage. It is a financial termite. When we make purchases on credit, they give us only an illusion of prosperity. We think we own things, but the reality is, our things own us.

Some debt—such as for a modest home, expenses for education, perhaps for a needed first car—may be necessary. But never should we enter into financial bondage through consumer debt without carefully weighing the costs.
Author: Joseph B. Wirthlin, Source: http://lds.org/portal/site/LDSOrg/menuitem.b12f9d18fae655bb690...
Saved by cboyack in wealth prosperity economy debt bondage finances

In the midst of the American Revolution, with h...

In the midst of the American Revolution, with his armies demoralized and in retreat, Gen. George Washington asked Thomas Paine to speak to the hearts of his soldiers. Paine's writings became a book titled The American Crisis, which served to galvanize the spirit of the revolution and help turn the tide of the war. In one excerpt, Paine writes:

"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country. ... Tyranny, like hell, is not easily conquered."

�

Our founding fathers faced a time like this. The American Revolution eventually ended, and peace was signed in 1784. Our country was born with nearly $12 million in foreign debts and more than $65 million in domestic and state debts--and without a penny with which to settle those obligations!

But in less than 20 years, our founding fathers had not only eliminated the war debt but also had gone on to raise enough money for the Louisiana Purchase.

Looking back, those endeavors were sustained by hard work, guided by an optimistic vision of the future and inspired by a belief that unexpected opportunities were out there just waiting to be discovered.
Author: Ray Sclafani, Source: http://www.onwallstreet.com/article.cfm?articleid=3224&searchT...
Saved by mlsscaress in liberty inspiration vision optimism words belief debt speech hardwork endeavors forefathers

Money is a new form of slavery, and distinguish...

Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal - that there is no human relation between master and slave.
Author: Leo Tolstoy, Source: Unknown
Saved by mlsscaress in money economy debt currency slave insecurity

When empires fall, their currencies fall first....

When empires fall, their currencies fall first. Even clearer is the rising debt of empires in decline, because in most cases their physical expansion is financed with debt.
Author: Rolf Nef, Source: http://www.financialsense.com/fsu/editorials/2007/0112b.html
Saved by cboyack in government economy debt currency empire

The power people are now planning another war f...

The power people are now planning another war for you. They have made this depression last many more years than it would have ordinarily lasted. They got stock down to 14 cents on a dollar. They just bought up everything at 14 cents on a dollar, and they're now ready to make additional billions as they put you through another world war.

They're going to have you pay for it. You're going to be involved in it. You don't think you'll get involved, but they'll say that for the peace of the world, you must come in, and you'll feel so soft-hearted about it, you'll come in. It will be just as big a mistake as World War I.
Author: J. Reuben Clark, Jr., Source: The Life of J. Reuben Clark, Jr. September 1, 1992 Delivered at the Grantsville High School, Grantsville, Utah; The works of W. Cleon Skousen. (a Folio Infobase) published by Verity Software
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Not only should we have strong spiritual homes,...

Not only should we have strong spiritual homes, but we should have strong temporal homes. We should avoid bondage by getting out of debt as soon as we can, pay as we go, and live within our incomes. There is wisdom in having on hand a year's supply of food, clothing, fuel (if possible), and in being preparing to defend our families and our possessions and to take care of ourselves. I believe a man should prepare for the worst while working for the best.
Author: Ezra Taft Benson, Source: Teachings of Ezra Taft Benson, p. 263-264
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