Posts Tagged ‘saved’

Spend or Save?

Posted: July 19, 2017 in Thought for the Day
Tags: , ,

“Life is ours to be spent, not saved.” -D.H. Lawrence

“When you borrow money two things usually happen.  First, you’re taking capital that others saved in the past, and are probably using for consumption, not to create more wealth.  And second, you’re mortgaging your future, which makes you a serf when you have to pay it back.” -Doug Casey

Future Income

Posted: March 11, 2017 in Money Matters
Tags: , , , , , , ,

“Money saved generates future income.  Income is what sets you free.  And freedom is what truly makes us happy.” –David Eifrig

“Not for nothing do we have such a preposterous financial system.  The borrower buys things he doesn’t need with money he doesn’t have.  The lender lends money that no one ever earned or saved, at the lowest interest rates in history, to borrowers who can’t pay it back.” –Bill Bonner

“Not for nothing do we have such a preposterous financial system.  The borrower buys things he doesn’t need with money he doesn’t have.  The lender lends money that no one ever earned or saved, at the lowest interest rates in history, to borrowers who can’t pay it back.” –Bill Bonner

“Real credit comes from money that is saved… taken out of the consumer economy so that it can be used for emergencies and capital investments.  When it is paid back – usually out of increased output – the world is a richer place.  But try to trick the economy with phony credit – money that was never earned and never saved – and you are just asking for trouble.” -Bill Bonner

Money Spent

Posted: November 12, 2014 in Money Matters
Tags: , , , , , ,

“Money spent is money gone forever. But money saved and invested is money that increases our standard of living,… and adds to our wealth.” -Bill Bonner

Loaded With Debt

Posted: April 21, 2014 in Debt
Tags: , , , , , , , ,

“The oldest generation of Americans remembers the Great Depression. They borrowed reluctantly, saved eagerly, and made the United States the greatest power on Earth…. The newest generation seems to have no regard whatever for the virtues of their grandparents or the futures of their grandchildren. They disregard the wisdom of the dead, and load up the unborn with debt.” -Bill Bonner

While driving the long highways of America the other day, I thought I was going to have to pull my car over to keep from wrecking.  An “expert” on the radio declared that people must put their personal debt worries aside so that they could stimulate economic growth by spending more.  I thought I was going to swallow my tongue.  It’s no wonder our country has suffered through a huge debt crisis, and why there will certainly be another.

People were enticed into spending the equity in their homes in order to enjoy the American dream of having everything they wanted.  This created a huge boom in economic activity.  But, once this debt spending became maxed out the economy crashed, and crashed quickly.  If we as a society continue to fall into this type of unbridled spending, there will be nothing more than continued booms and busts.

So, now that people are gaining a step on their debt, the experts want them to spend with debt again.  Ludicrous!  Reasonable spending, with saved money, is what will help decrease the roller coaster ride we seem to find ourselves on.  Please people, listen to your own common sense instead of “experts”.

“The basic idea of [Private Reserve Strategy] is that the typical American household is flushing away boatloads of money in interest expenses to outside financiers.  If people could become disciplined and save up before making major purchases—so that they were relying on their own accumulated capital rather than what others had saved—they would be able to finally start getting ahead.” –Robert Murphy