Posts Tagged ‘borrowing’

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Al Gore on Borrowing Money to Burn

Posted by admin on Sunday, March 16, 2014

Al Gore Money Quotation saying trade deficits finance energy consumption that leads to global warming and climate change. Al Gore said:
 
We're borrowing money from China to buy oil from the Persian Gulf to burn it in ways that destroy the future of human civilization Quote
 

“We’re borrowing money from China to buy oil from the Persian Gulf to burn it in ways that destroy the future of human civilization” — Al Gore

 

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In this quote, Al Gore is sharply criticizing America’s patterns of spending and foreign policy regarding energy. He notes that the U.S. borrows money from China to purchase oil from the volatile Persian Gulf region, yet the primary use of that oil is to fuel activities (like driving and energy production) that contribute to climate change and threaten “the future of human civilization.”

Gore suggests this approach is short-sighted and unsustainable. By borrowing to import fossil fuels that damage the environment and security, the quote argues the nation’s economic and energy policies are undermining its long-term interests and global leadership on issues like climate change.

Overall, it portrays these interlinked financial, trade and energy decisions very critically as courting economic and environmental risks.

Shakespeare on Borrowing to Pay Debt

Posted by admin on Saturday, June 8, 2013

William Shakespeare Money Quotation saying in this Henry IV (pt 2) line from Falstaff emphasizing the futility of endlessly borrowing to resolve debt. Falstaff said:
 
William Shakespeare Quote
 

“I can get no remedy against this consumption of the purse: borrowing only lingers and lingers it out, but the disease is incurable” — William Shakespeare

 

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In this quote, William Shakespeare is using the metaphor of a “consumption of the purse” or spending disease to refer to being in debt or facing financial difficulties. His interpretation is that borrowing money only serves to temporarily prolong the problem but does not cure the underlying fiscal issues.

The message seems to be that taking on more debt through loans is not a real solution and will only draw out the affliction, as the fundamental cause of insufficient funds or excessive spending remains uncured.

Shakespeare suggests that true remedy is needed against the consumption or depletion of one’s purse/finances, rather than superficially delaying the problem through additional borrowing that does not get at the root cause.

#TalkLikeShakespeareDay April 22

Abraham Lincoln: Constitution on Government Borrowing

Posted by admin on Wednesday, June 22, 2011

Abraham Lincoln Money Quotation saying Abe was opposed to federal government borrowing and wanted to amend the consitution to stop the practice, but failed. Abraham Lincoln said:
 
I wish it were possible to obtain a single amendment to our constitution taking from the federal government their power of borrowing Quote
 

“I wish it were possible to obtain a single amendment to our constitution taking from the federal government their power of borrowing” — Abraham Lincoln

 

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Abraham Lincoln wanted to amend the Constitution to take away the federal government’s power of borrowing. He felt strongly that the government should not be able to borrow money. Lincoln likely believed that the government should balance its budget each year and not run deficits, relying instead on tax revenue to fund operations.

Amending the Constitution would have made it impossible for Congress to authorize new government borrowing and debt. However, Lincoln was not able to successfully pass such a constitutional amendment before his death.

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