A Quote by Michael J. Knowles

Modern economies rely on debt, which encourages productivity and growth. But that system of credit requires consequences for debtors who default.

Michael J. Knowles

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Consequences Credit Debt Debtors Default Economies Encourages Growth Modern Productivity Rely Requires System Which

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Michael J. Knowles
American - Author
Born: March 18, 1990

When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to mortgage debt, you are securing that credit card debt with your home. That's a risky proposition.

Jean Chatzky

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.

Jeff Greene

Growth in productivity has diverged from growth in the share that working people can expect right across advanced economies, but this trend started earlier and has been more pronounced in the U.S.

Mariana Mazzucato

The challenge to our national economies and the collective economy of Europe will become - with the growth of China and the continuing productivity growth of the US - even more intense in the decades to come.

John Hutton

If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed.

Manmohan Singh

Growing economies are critical; we will never be able to end poverty unless economies are growing. We also need to find ways of growing economies so that the growth creates good jobs, especially for young people, especially for women, especially for the poorest who have been excluded from the economic system.

Jim Yong Kim

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.

Suze Orman

The environmental crisis is somber evidence of an insidious fraud hidden in the vaunted productivity and wealth of modern, technology-based society. This wealth has been gained by rapid short-term exploitation of the environmental system, but it has blindly accumulated a debt to nature-a debt so large and so pervasive that in the next generation it may, if unpaid, wipe out most of the wealth it has gained us.

Barry Commoner

Productivity-the amount of output delivered per hour of work in the economy-is often viewed as the engine of progress in modern capitalist economies. Output is everything. Time is money. The quest for increased productivity occupies reams of academic literature and haunts the waking hours of C.E.O.s and finance ministers.

Tim Jackson

Productivity - the amount of output delivered per hour of work in the economy - is often viewed as the engine of progress in modern capitalist economies. Output is everything. Time is money. The quest for increased productivity occupies reams of academic literature and haunts the waking hours of C.E.O.s and finance ministers.

Tim Jackson

Credit default swap gives you something to do. You can buy some credit default swaps from them to protect yourself against the bankruptcy of people who owe you money.

Robert F. Engle

Credit-default swaps remedied the problem of open-ended risk for me. If I bought a credit-default swap, my downside was defined and certain, and the upside was many multiples of it.

Michael Burry

If you default on an unsecured debt, you won't lose anything (except points on your credit score).

Jean Chatzky

Not raising the debt ceiling does not trigger a default, because we've got enough money to service our debts. Default is when you can't service your debt.

Ted Yoho

I think the credit default swaps can take the place of the rating agencies who really have missed the ball in this procedure and are quite conflicted by the way the ratings are paid for. So, I would like to see credit default swaps become an evermore important way of understanding credit risk in the economy.

Robert F. Engle

I'm very interested in the more grass-roots consequences of the economic meltdown: issues related to mortgage foreclosures, debt collection, and the practices of credit card companies and others who hold a lot of consumer debt.

Eric Schneiderman

A Quote by Michael J. Knowles

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