A Quote by Joseph Stiglitz
Moreover, because we chose to finance the way by borrowing, our deficits and debt has soared, and this means we have less room for maneuver, less money available to stimulate the eocnomy in the way needed.
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Monetary policy has less room to maneuver when interest rates are close to zero, while expansionary fiscal policy is likely both more effective and less costly in terms of increased debt burden when interest rates are pinned at low levels.
The purpose of finance is to enable business to acquire the ownership of capital instruments before it has saved the funds to buy and pay for them. The logic used by business in investing is things that will pay for themselves is not today available to the 95% born without capital. Most of us owe instead of own. And the less the economy needs our labor, the less able we are to "save" our way to capital ownership.
Most people don't know this, but if you settle a debt for less than the amount you owed, you are potentially responsible for taxes on the forgiven debt. Look at it this way: You received goods and services for the full amount of debt, but you're only paying for a portion of it - sometimes less than 50%. Anything more than $600 is generally considered taxable, but the IRS will sometimes waive the tax if you can prove that your assets were less than your liabilities when the debt was settled.
Less money for retirees means less purchasing power means less economic growth overall. It's a big problem.
Large sums were paid for the use of money, because the available amount of gold and silver was far less than was needed to carry on the commercial transactions of the times.
I have long been in favor of a balanced budget restriction at the level of the federal government of the United States. Because the federal government has money-creating powers it can, in fact, be very damaging if it runs a series of budget deficits. With the state government in the United States, they don't have money-creating powers. The automatic discipline imposed by the fact that they are in a common monetary unit and don't have control over the money power means that the balanced budget restriction is less needed.
The way that I make films is that I sit down and I think, "How much money could I get with less consequences?" And that's how I start. I'd rather have less money and total autonomy than more money and start having to answer to things, because then I'm not being true and the money men are not being true.
It is always easier to take the words of a Jesus, a Gandhi, a Marx, or a Confucius as constituting Holy Writ. This involves less reading, less study, less thought, less conflict, and less independent searching, but it also means less growth toward maturity.
The successful companies try to keep the new entrants down. Now that's great for a company like ours. We make more money that way because we have less competition and less innovation. But for the country as a whole, it's horrible.
There's something grueling but very appealing about rough, to-the-bone material in a low budget context. There's less between you and the material. There are less people. There is less time. There's often less technology. You have to concentrate very intensely, and you jump in a little deeper because there's nothing in your way... but there are challenges.
When the government takes more money out of the pockets of middle class Americans, entrepreneurs, and businesses, it lessens the available cash flow for people to spend on goods and services, less money to start businesses, and less money for businesses to expand - i.e. creating new jobs and hiring people.
We remain the most prosperous, powerful nation on Earth. Our workers are no less productive than when this crisis began. Our minds are no less inventive, our goods and services no less needed than they were last week or last month or last year
There is a lot of fiscal conservatives in the United States senate that didn't vote for that because we understand that national security spending is not the reason why we have a debt. Our debt is being driven by the way Social Security, Medicare, and Medicaid and, by the way, the interest on the debt is structured in the years to come.
Instituting equal pay is especially important because families in our country increasingly rely on women's wages to make ends meet. When women bring home less money each day, it means they have less for the everyday needs of their families - groceries, rent, child care, and doctors' visits.
As you have to pay more interest and amortization on what you owe, you're left with less and less money to buy goods and services - unless you borrow even more and go further into debt.
When I decided to be a musician I reckoned that that was going to be the way of less profit, less money. I was sort of giving up the idea of making a lot of money. It was what I loved to do. I would have done it anyway. If I'd had to work at Taco Bell I'd have still been out at night trying to play music.
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