Posts Tagged ‘debt’

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Dave Ramsey: Sell Aggressive Debt

Posted by admin on Monday, July 31, 2023

Meaning of Dave Ramsey Money Quote: saying Debt has been sold to us aggressively that we completely accept it. Dave Ramsey said:

 
Debt has been sold to us so aggressively, so loudly, and so often that to imagine living without debt requires myth-busting Quote
 

“Debt has been sold to us so aggressively, so loudly, and so often that to imagine living without debt requires myth-busting” — Dave Ramsey

 

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David Graeber: Corrupted by Math

Posted by admin on Saturday, July 29, 2023

Meaning of David Graeber Money Quote: saying Debt is a perverted form of math representing money multiplied by time and amount owed. David Graeber said:
 
 
debt is the perversion of a promise corrupted by math and violence Quote

“What is a debt, anyway? A debt is just the perversion of a promise. It is a promise corrupted by both math and violence” — David Graeber

 

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This money quote looks at the complex and often problematic nature of debt. Here are some possible interpretations and insights about the quote:

  1. Debt as a perversion of promise: Graeber’s quote suggests that debt is a distortion of the original purpose of promises, which are meant to be acts of good faith and mutual obligation. Instead, debt is often used as a means of exploitation and control, where one party (usually the creditor) has power over the other (the debtor).
  2. Math and violence: Graeber’s reference to “math and violence” highlights the coercive nature of debt. Debt is often calculated using mathematical formulas, but these calculations can be used to justify exploitative and oppressive practices. Additionally, the threat of violence (either physical or economic) is often used to enforce debt obligations.
  3. The corruption of promises: Graeber’s quote suggests that debt corrupts the original promise of mutual obligation and reciprocity. Instead of being a mutual agreement between equals, debt becomes a tool for one party to gain power over the other.
  4. The problem of debt as a social relation: Graeber’s quote highlights the problem of debt as a social relation, rather than just a financial transaction. Debt can create and reinforce power imbalances, social hierarchies, and economic inequalities.
  5. The need for a new understanding of debt: Graeber’s quote suggests that we need a new understanding of debt that goes beyond the current paradigm of debt as a financial obligation. This new understanding should prioritize mutual aid, cooperation, and reciprocity, rather than exploitation and control.

Graeber’s quote challenges the dominant narratives around debt and encourages us to think critically about the social and economic implications of debt. It highlights the need for a more equitable and just understanding of debt, one that prioritizes the well-being of all individuals and communities, rather than just the interests of the powerful.

Dave Ramsey: Debt is Dumb

Posted by admin on Friday, July 28, 2023

Meaning of Dave Ramsey Money Quote: saying getting into debt is dumb and not being indebted has earned a new cache with those keeping up with the jones’s. Dave Ramsey said:

 
Debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice Quote
 

“Debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice” — Dave Ramsey

 


 

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Nabeel Qureshi: Wages of Sin

Posted by admin on Thursday, July 27, 2023

Meaning of Nabeel Qureshi Money Quote: saying pays Incurred debt for wages of sin, balancing accounts. Nabeel Qureshi said:
 
 
debt against God, and we can’t pay Him back. So in His mercy, He pays our sins for us. The wages of our sin is death, and He died on our behalf, balancing the accounts Quote
 

“We are the son, and God is the father. We have incurred a debt against God, and we can’t pay Him back. So in His mercy, He pays our sins for us. The wages of our sin is death, and He died on our behalf, balancing the accounts” — Nabeel Qureshi

 

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Noelle Stout: Poor Living Wage

Posted by admin on Wednesday, July 26, 2023

Meaning of Noelle Stout Money Quote: saying The poor suffer from the commodification of debt products and pay ever more for being poor. Noelle Stout said:

 
labor into a wage -- or a living wage, for that matter -- but rather of becoming indebted and, through the commodification of these debts, paying an ever-higher price for being poor Quote

“Being poor is not simply a matter of lacking opportunities to convert one’s labor into a wage — or a living wage, for that matter — but rather of becoming indebted and, through the commodification of these debts, paying an ever-higher price for being poor” — Noelle Stout

 

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In this quote, Noelle Stout is discussing the high costs and financial burdens that poverty can place on people. She argues that being poor is not just about lacking opportunities to earn enough money through work or a living wage. Rather, she says that poverty often results in people becoming indebted or taking on debt, and then having to pay increasingly high costs and interest on that debt over time due to their financial circumstances.

Stout refers to this as the “commodification of debts”, meaning that debts owed by poor people essentially become commodified financial products that are traded and can accumulate more and more costs. So her point is that poverty is not just about low income, but also about the cycle of debt and high costs that the poor often face, which in a sense makes them “pay an ever-higher price for being poor” through the interest and fees attached to their debts over time.

Miya Tokumitsu: Wealthy Debt Pay

Posted by admin on Monday, July 24, 2023

Meaning of Miya Tokumitsu Money Quote: saying Those who do the work they love sometimes go into debt for that loved work. Miya Tokumitsu said:

 
Do what you love, but only the wealthy can avoid going into debt to pay for it Quote
 

“Maybe anyone can do what he or she loves, but only the wealthy can avoid going into debt to pay for it” — Miya Tokumitsu

 

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Una McCormack: Compensatation

Posted by admin on Sunday, July 23, 2023

Meaning of Una McCormack Money Quote: saying Friendship ignores financial status or whether they will be rewarded by giving. Una McCormack said:

 
No true friendship takes account of credit and debt. It gives freely, without thought of compensation or reward Quote
 

“No true friendship takes account of credit and debt. It gives freely, without thought of compensation or reward” — Una McCormack

 

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Aldous Huxley: Universal Debt

Posted by admin on Saturday, July 22, 2023

Meaning of Aldous Huxley Money Quote: saying debt for war-making is core to our ideology and will always be part of our prosperity. Aldous Huxley said:

 
Western prosperity. If war, waste and money-lenders were abolished Quote
 

“Armaments, universal debt and planned obsolescence – those are the three pillars of Western prosperity. If war, waste and money-lenders were abolished, you’d collapse” — Aldous Huxley

 

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Huxley believed that armaments, universal debt, and planned obsolescence were the three pillars supporting Western prosperity. He argued that without these things, Western societies would collapse economically. Specifically:

  • Armaments refers to weapons manufacturing, which drives significant government and private sector spending.
  • Universal debt, meaning widespread personal and national debt, fuels continued spending through credit and debt repayment.
  • Planned obsolescence, where products are designed to go obsolete quickly to drive new purchasing, stimulates ongoing consumer spending.

Huxley suggested that without this constant cycle of spending driven by these three factors, Western economies would struggle and potentially collapse due to lack of continuous economic activity and growth.

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