Frank Abagnale Jr: No Debit Card

Frank Abagnale Jr Money Quote saying debit cards are riskier than credit cards because someone could access your cash, not the bank’s money. Frank Abagnale Jr said:
 

 

“Never, ever use a debit card….. a debit card is certainly and truly the worst financial tool ever given to the American consumer. Why? It’s simple: Every time you use one, you put your money and your bank account at risk” — Frank Abagnale Jr.

In this quote, Frank Abagnale Jr. seems to be strongly advising against using debit cards due to security risks. By stating that a debit card is “certainly and truly the worst financial tool ever given to the American consumer”, and that each use puts “your money and your bank account at risk”, Abagnale implies debit cards expose users to potential fraud and losses.

The quote conveys Abagnale’s perspective that debit transactions directly access and deduct funds from one’s checking account, unlike credit cards where the user is not liable for fraudulent charges, making debit a riskier option.

Overall, Abagnale appears to be arguing from experience that debit cards provide little recourse if compromised compared to credit, and that consumers’ bank balances are more vulnerable as a result when using debit for payments rather than relying on credit lines alone that do not immediately debit available cash.

Daryl Hannah: Power to Purchase

Daryl Hannah Money Quote saying that how we spend our money determines which corporations continue to wield power in the marketplace. Daryl Hannah said:
 

 

“Obviously we’re a consumer nation and you have the power to influence these big corporations who are running the world right now through what you chose to, or not to, purchase” — Daryl Hannah

In this quote, Daryl Hannah is emphasizing the power that consumers have to influence corporate behavior and priorities. She notes that the United States is a major consumer economy, meaning businesses depend on sales to customers.

Hannah then argues that individuals have the ability to impact the decisions of large multinational companies by choosing whether or not to buy their products. If enough consumers opt not to purchase goods from companies that are pursuing environmentally damaging or unethical practices, for example, it could motivate those businesses to change their policies for the sake of preserving profits.

So according to Hannah, conscious consumption is a way for citizens to indirectly shape the actions of powerful corporations that dominate the global economy.

Ralph Waldo Emerson: Everyman Consumer

Ralph Waldo Emerson Money Quote saying we all consume, but all need to produce so that we not only pay debt we owe, but bring more wealth to society. Ralph Waldo Emerson said:
 

 

“Every man is a consumer, and ought to be a producer. He fails to make his place good in the world, unless he not only pays his debt, but also adds something to the common wealth” — Ralph Waldo Emerson

In this quote, Ralph Waldo Emerson seems to be conveying two key ideas:

1. That every individual should aim to both consume resources through their living as well as produce and contribute value through their work or skills.
2. That an individual has not truly fulfilled their role or “made their place good in the world” unless they not only cover their own costs of living (“pays his debt”) but also generate surplus that enriches society overall (“adds something to the common wealth”).

Overall, Emerson appears to be arguing that taking from the system through consumption alone is insufficient – people ought to also give back through applying their talents and efforts to productive ends that grow overall prosperity, not just their own.

The quote conveys Emerson’s view that achieving one’s potential involves both utilizing resources provided by others as well as enhancing the lot of others through one’s own unique contributions.

Birthday: May 25, 1803 – Death: April 27, 1882

Bill Bonner: World Economy of Spending

Bill Bonner Money Quote saying the world economic picture is driven by consumer spending is about excess and is driven by unneeded goods being purchased.
 

 

“The entire world economy rests on the consumer; if he ever stops spending money he doesn’t have on things he doesn’t need — we’re done for” — Bill Bonner

In this quote, financial commentator Bill Bonner seems to be critiquing how fragile modern economies have become due to their heavy reliance on perpetual consumer spending and consumer debt.

By stating that the global economy “rests on the consumer” spending money they “don’t have on things they don’t need”, Bonner implies that if consumers ever curbed their appetite for non-essential purchases made on credit, it could potentially destabilize entire market systems.

The quote conveys Bonner’s view that encouraging overconsumption and debt-financed buying of disposable goods is unsustainable as a long-term economic model and leaves countries vulnerable if consumerism declines.

Overall, Bonner appears to be warning that basing growth predominantly on non-discretionary spending poses substantial risks that could seriously impact prosperity if consumer behavior patterns fundamentally changed.

Birthday: February 1, 1958 – Present