Saturday, November 23, 2024 Text is available under the CC BY-SA 3.0 licence.

Anthony Burgess

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Carlo looked as at the world of fallen man on the endless suburbs that passed for a city, an eatery in the likeness of a Sphinx (enter between its forepaws), another, for jumbo malts so thick you can't suck 'em through a straw, in the form of an elephant crouched as at the bidding of its mahout, gimcrack temples of various faiths, attap roofs of nutburger stands with Corinthian columns, loans loans loans, stores crammed with cutprice radios, a doughnuttery, homes like Swiss chalets, like Bavarian castles, miniature Blenheims, Strawberry Hills, Taj Mahals, a bank in the form of a tiny ocean liner, dusty trees on the boulevards (datepalm, orange, oleander), bars with neon bottles endlessly pouring, colleges for stuntmen, beauticians, morticians, degrees in drummajoretteship.

 
Anthony Burgess

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Reckless people have deluded themselves that this was a subprime crisis. But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts... We have a subprime financial system, not a subprime mortgage market.

 
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The question will be asked and ought to be looked at, what is to be the resource if loans cannot be obtained? There is but one, "Carthago delenda est." Bank paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs. It is the only fund on which they can rely for loans; it is the only resource which can never fail them, and it is an abundant one for every necessary purpose. Treasury bills, bottomed on taxes, bearing or not bearing interest, as may be found necessary, thrown into circulation will take the place of so much gold and silver, which last, when crowded, will find an efflux into other countries, and thus keep the quantum of medium at its salutary level. Let banks continue if they please, but let them discount for cash alone or for treasury notes.

 
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As we drive down the freeways, we see the new cars, but not the massive new-car loans that enslave their drivers to the banks.

 
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Poor people always pay back their loans. It's us, the creators of institutions and rules, who keep creating trouble for them.

 
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