Borrowing to build factories is not the economic equivalent of borrowing to buy television sets, and it’s amazing just how few modern economists can see the difference...Borrowing to produce is the way poor countries become rich. Borrowing to consume is the way rich countries become poor. A vivid example of the latter is the stream of container ships unloading at U.S. ports and going back empty because we have nothing to ship.
Peter Schiff
I care not so much what I am to others as what I am to myself. I will be rich by myself, and not by borrowing.
Michel de Montaigne
I, who ne'er
Went for myself a begging, go a borrowing,
And that for others. Borrowing's much the same
As begging; just as lending upon usury
Is much the same as thieving.Gotthold Ephraim Lessing
The great question for our time is, how to make sure that the continuing scientific revolution brings benefits to everybody rather than widening the gap between rich and poor. To lift up poor countries, and poor people in rich countries, from poverty, to give them a chance of a decent life, technology is not enough. Technology must be guided and driven by ethics if it is to do more than provide new toys for the rich.
Freeman Dyson
Throughout the years in which the US was punishing countries that departed from fiscal prudence, it was borrowing on a colossal scale to finance tax cuts and fund its over-stretched military commitments. Now, with federal finances critically dependent on continuing large inflows of foreign capital, it will be the countries that spurned the American model of capitalism that will shape America's economic future.
John N. Gray
That's where all the foreign aid (which might be defined as a transfer from poor people in rich countries to rich people in poor countries) went as well. The U.S. government still squanders about $20 billion a year this way, and European governments spend proportionally even more; it's all gone straight down a giant rathole.
Douglas Casey
Schiff, Peter
Schiffer, Claudia
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