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If you'd asked me as a kid how rich people became poor, I'd have said by spending all their money. That's how it happens in books and movies, because that's the colorful way to do it. But in fact the way most fortunes are lost is not through excessive expenditure, but through bad investments.
--
"How To Lose Time And Money", July 2010

 

Paul Graham

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Nobody is entitled to someone else's money, that is the bottom line. People think they are entitled to it because hey think they paid into it, nobody paid into anything, it was a fraud. Every single dollar that the gov collected in social security taxes, has already been spent, there is nothing there, there is no money, so the only money the government gets to make current payment is the money it can take from people who are still working. Its a transfer from the working poor in many cases to the retired rich. We don't have the money, I feel bad for the fact people made promises we can't keep, I feel bad for the people that invested with Bernie Madoff and lost their money, but its the same principle, its the same Ponzi scheme. We have to put an end to it, we have to find real solution to these problems because if we keep on denying that they exist and keep on spending money, we're going to destroy the value of everyone's benefits.

 

Peter Schiff

 

Watching old movies is like spending an evening with those people next door. They bore us, and we wouldn't go out of our way to see them; we drop in on them because they're so close. If it took some effort to see old movies, we might try to find out which were the good ones, and if people saw only the good ones maybe they would still respect old movies. As it is, people sit and watch movies that audiences walked out on thirty years ago. Like Lot's wife, we are tempted to take another look, attracted not by evil but by something that seems much more shameful — our own innocence.

 

Pauline Kael

 

But as they all say if we sell our home what will we have for it, money, and what is the use of that money, money goes and after it is gone then where are we, beside we have all we want, what can we do with money except lose it, money to spend is not very welcome, if you have it and you try to spend it, well spending money is an anxiety, saving money is a comfort and a pleasure, economy is not a duty it is a comfort, avarice is an excitement, but spending money is nothing, money spent is money non-existent, money saved is money realised...

 

Gertrude Stein

 

What is always overlooked is that although the poor want to be rich, it does not follow that they either like the rich or that they in any way want to emulate their characters which, in fact, they despise. Both the poor and the rich have always found precisely the same grounds on which to complain about each other. Each feels the other has no manners, is disloyal, corrupt, insensitive — and has never put in an honest day's work in its life.

 

Elaine Dundy

 

Sir, money, money, the most charming of all things; money, which will say more in one moment than the most elegant lover can in years. Perhaps you will say a man is not young; I answer he is rich. He is not genteel, handsome, witty, brave, good-humoured, but he is rich, rich, rich, rich, rich — that one word contradicts everything you can say against him.

 

Henry Fielding