quotes tagged with 'loan'

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 12 years ago[save this] [permalink]
I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money. It is absolutely wrong for Government to issue interest–bearing obligations. It is not only wrong, it is absolutely unnecessary. I believe the system should be changed. The Constitution of the United States does not give the banks the power to create money. The Constitution says that Congress shall have the power to create money. I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue.
Author: Wright Patman, Source: Congressional Record pp. 7582-3, September 29, 1941Saved by cboyack in money federalreserve economy bank currency interest loan 13 years ago[save this] [permalink]

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