A Quote by Peter Schiff
There is simply no way to sustain an economy based on consumer credit.
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The whole economy would be much healthier if it would transition to an asset-based economy rather than a credit-based one.
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.
We have to remember we're in a global economy. The purpose of fiscal stimulus is not simply to sustain activity in our national economies, but to help the global economy as well, and that's why it's so critical that measures in those packages avoid anything that smacks of protectionism.
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.
I think what grows the economy is when you get that tax credit that we put in place for your kids going to college. I think that grows the economy. I think what grows the economy is when we make sure small businesses are getting a tax credit for hiring veterans who fought for our country. That grows our economy.
We need to deal with three things that are important: first, we need a very deep reconsideration of how we are dealing with the economy. Second, there must be a very deep reconsideration of our way of life. We cannot simply adopt American-style consumer culture. To Islamize that is to de-Islamize Islam.Thirdly, it is important for us to understand the economy and the environment are common challenges for everyone. This is where the singularity of Islamic principles needs to join the universal values that we share with others.
You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.
For the workers and their families, being able to bring home a living wage helps their families and, by extension, helps our economy. Seventy percent of our economy is consumer-based. We know that when lower- and middle-class families have money and disposable income, they spend it. That puts money back into the economy. It's a win-win for everybody: Not just for the individual, not just production at a specific company (like Nissan), but for the greater good.
You know, the elites always want to shame the poor - right? - and everyone else. I mean, the fact is, this economy is based on 70 percent of the people driving consumer demand. If people do not purchase goods and services, this economy will grind to recession. And that is why, if you are going to do a tax cut, it ought to really be aimed at low-income and middle-income people.
Let's be honest, this is a consumer based economy in America. That's all we manufacture here is need and appetite. We are the world's mouth. They make things in other countries, and they're like, 'Send it to America; they'll eat it.'
Consumer spending is now plunging at serious-recession rate ... even if the rescue now in train succeeds in unfreezing credit markets, the real economy has immense downward momentum. In addition to financial rescues, we need major stimulus programs.
I'm funding a new business with money I would have given away in the first place. And I'm starting a responsible business and I'm educating the consumer about chemistry that is totally sustainable - not just from a production point of view, but it also helps sustain the human psyche and physical body - based on informational, energetic matter.
The American consumer, even today, the weight of the American consumer in the global economy is China plus India doubled. So, it's tough to replace that.
Meaningful rules in the consumer credit market can accelerate economic recovery. Rules would increase consumer confidence and, more importantly, weed out all the tricks and traps that sap families of billions of dollars annually.
The Chinese economy's still not that much of a consumer economy.
We have the most flexible and adaptive economy. Making sure we sustain the ability of the American economy to perform well is really the priority of economic policy.
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