A Quote by Ludwig von Mises
One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new credit to lend. Then the firms that have expanded cannot get credit to pay for the factors of production necessary for the completion of the investment projects which they have already committed themselves. Because they cannot pay their bills, they sell off their inventories cheap. Then comes the panic, the breakdown. And the depression starts.
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But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.
To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end.
Absolutely pay off credit card debt. If you're not getting a match in your 401(k) and you've got credit card debt, you've got to get yourself out of credit card debt. When you get out of credit card debt, your credit score goes up and interest starts to go down.
If you're in poverty and all you have is a debit card or a prepaid card or you pay in cash, it does not report to a credit bureau. If it doesn't report to a credit bureau, it cannot create a credit score for yourself.
There are lots of families who - who make irresponsible purchases. There are also a lot of families who have debt on credit cards because they use those credit cards to pay for medical bills.
And usually the studios they don't want you to have credit for your movies because they want to take credit for the movies because if you get credit for your movies they've got to pay you more.
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.
Nature has written a letter of credit upon some men's faces that is honored wherever presented. You cannot help trusting such men. Their very presence gives confidence. There is promise to pay in their faces which gives confidence and you prefer it to another man's endorsement. Character is credit.
We cannot put Connecticut's future on the credit card. The state has had a problem putting costs on Connecticut's credit card that it simply can't afford to pay.
I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score.
No one lives on credit in France because banks don't allow overdrafts and zero percent credit cards do not exist.
The leader is a teacher who succeeds without taking credit. And, because credit is not taken, credit is received.
I was able to use credit default swaps to protect not only my investments but the hundreds of jobs that exist because of my investment. I understand the dangers of credit default swaps and the benefits of credit default swaps.
Banks lend by creating credit. They create the means of payment out of nothing.
This is the worst time to miss a bill. Pay down any large credit card or other large revolving accounts if you can, because high balances will hurt your credit rating. And avoid opening any other accounts before the loan you're pursuing is closed.
The Christians say, that among the ancient Jews, if you committed a crime you had to kill a sheep. Now they say 'charge it.' 'Put it on the slate.' The Savior will pay it. In this way, rascality is sold on credit, and the credit system in morals, as in business, breeds extravagance.
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