A Quote by Albert Einstein
Compound interest on debt was the banker's greatest invention, to capture, and enslave, a productive society.
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Put God in your debt. Every stroke shall be repaid. The longer the payment is with-held, the better for you; for compound interest on compound interest is the rate and usage of this exchequer.
There is a third silent party to all our bargains. The nature and soul of things takes on itself the guaranty of the fulfillment of every contract, so that honest service cannot come to loss. If you serve an ungrateful master, serve him the more. Put God in your debt. Every stroke shall be repaid. The longer the payment is withholden, the better for you; for compound interest on compound interest is the rate and usage of this exchequer.
It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges, at the hands of men, who control the fictitious value of gold. Interest is the invention of Satan.
Most great fortunes are built slowly. They are based on the principle of compound interest, what Albert Einstein called, "The greatest power in the universe."
Karma is an energy debt which you owe or an energy credit which is owed you. Both involve compound interest that is added to the equation making it either a burden or a blessing.
First, pay off your high-interest-rate debt. If you have student loan debt - that's low interest rate; that has a tax benefit - you can leave that out. A mortgage can be an OK one. Credit card debt is poison. That needs to be paid off right away.
The greatest invention of the nineteenth century was the invention of the method of invention.
The art of banking is always to balance the risk of a run with the reward of a profit. The tantalizing factor in the equation is that riskier borrowers pay higher interest rates. Ultimate safety - a strongbox full of currency - would avail the banker nothing. Maximum risk - a portfolio of loans to prospective bankrupts at usurious interest rates - would invite disaster. A good banker safely and profitably treads the middle ground.
With all this consumer debt, business debt, government debt, smaller movements in interest rates have a magnified effect. a small movement can tip the boat.
There are many points in the history of an invention which the inventor himself is apt to overlook as trifling, but in which posterity never fail to take a deep interest. The progress of the human mind is never traced with such a lively interest as through the steps by which it perfects a great invention; and there is certainly no invention respecting which this minute information will be more eagerly sought after, than in the case of the steam-engine.
A drug is neither moral nor immoral - it's a chemical compound. The compound itself is not a menace to society until a human being treats it as if consumption bestowed a temporary license to act like an asshole.
Shipping first time code is like going into debt. A little debt speeds development so long as it is paid back promptly with a rewrite. The danger occurs when the debt is not repaid. Every minute spent on not-quite-right code counts as interest on that debt. Entire engineering organizations can be brought to a standstill under the debt load of an unconsolidated implementation, object-oriented or otherwise.
I do not like debt and do not like to invest in companies that have too much debt, particularly long-term debt. With long-term debt, increases in interest rates can drastically affect company profits and make future cash flows less predictable.
This debt crisis coming to our country. The wall and tidal wave of debt that is befalling our nation. Medicare and Social Security go bankrupt within ten years, we have a debt that is looming so high that in the last year of President Obama's budget just the interest payments on our debt is $916 billion dollars.
There are two ways to conquer and enslave a country. One is by the sword. The other is by debt.
For highly indebted governments, low interest rates are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize banks. The shift to a high sovereign-debt-yield equilibrium would make it impossible to achieve fiscal balance.
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