A Quote by Alan M. Taylor
We have never in human history seen a run-up in credit of the kind we have just witnessed in advanced economies since 1970, and we have never observed modern finance-capitalist systems operating over a sustained period at this kind of credit-to-GDP leverage ratio.
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The basic aggregate measure of gearing or leverage is telling us that today's advanced economies' operating systems are more heavily dependent on private sector credit than anything we have ever seen before. Furthermore, this pattern is seen across all the advanced economies, and isn't just a feature of some special subset (e.g. the Anglo-Saxons).
A possibility is that we see more and more leverage, and credit-to-GDP ratios rise once more to even higher levels; eventually the banking systems of all advanced economies reach magnitudes of 500 percent, 1000 percent or more of GDP, so that every economy starts to have financial systems that resemble recent cases like Switzerland, Ireland, Iceland, or Cyprus. That might be a very fragile world to live in.
If there is any kind of animal which is female and has no male separate from it, it is possible that this may generate a young one from itself. No instance of this worthy of any credit has been observed up to the present at any rate, but one case in the class of fishes makes us hesitate. No male of the so-called erythrinus has ever yet been seen, but females, and specimens full of roe, have been seen. Of this, however, we have as yet no proof worthy of credit.
Because the American credit reporting system relies on both good and bad reports of creditworthiness, a consumer must have some kind of credit - not just the absence of bad credit.
UNIX has a philosophy, it has 25 years of history behind it, and most importantly, it has a clean core. It strives for something - some kind of beauty. And that's really what struck me as a programmer. Operating systems that normal home users are used to, such as DOS and Windows, didn't have any way of life. Nobody tried to design Windows - it just grew in random directions without any kind of thought behind it. [...] I don't think Microsoft is evil in itself; I just think that they make really crappy operating systems.
If you get a flow of credit increasing, as we've seen in the last few years - that flow of credit didn't go to more wealth accumulation as we normally use the term in economics, as capital goods. What you got is an increase in bubbles of one kind or another.
I never wanted credit for being a wonderful person or a great human being or looking peculiar. I just wanted credit for the music.
There are hundreds of millions of people around the globe who could safely repay loans but nonetheless do not have access to a line of credit. Financial institutions in developing economies are broken and inefficient, and hard-working people have not been given the chance to establish a credit history.
Never in the history of human credit has so much been owed.
I am kind of the front man for a team of people behind the scenes who are working just as hard as me and are putting in just as much time to make this all happen. I'm not trying to be humble. I just want everyone to get credit where credit is due.
Probably we never fully credit the interdependence of wild creatures, and their cognizance of the affairs of their own kind.
If there is any kind of legitimate ostalgia, it's for everything we've never even seen, the women we've never slept with, never dreamed of, the friends we haven't made, the books we've never read, all the food steaming in the pots we've never eaten out of. That's the only real kind of nostalgia there is.
Given all the money printing that is going on globally - and not just in the US - and given that the total credit as a percent of the advanced economies is now 30% higher than in 2007 before the crisis hit, I think that gold is a good insurance.
To give him his credit, I never thought I'd say this, but Donald Trump was talking about the importance of investing in jobs and infrastructure and in the economies across the country, not just the main cities, and that's right.
Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?
Modern economies rely on debt, which encourages productivity and growth. But that system of credit requires consequences for debtors who default.
