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The invention of the micro-loan was a big surprise to me. Who would have guessed loans of less than $20 made to poor people in undeveloped countries could create thriving local economies? And, even more surprisingly, that they more reliably pay off their debts than the wealthy of the world.
Joel A. Barker
Men who borrow their opinions can never repay their debts.
E. F. L. Wood, 1st Earl of Halifax
The United States established itself as a trustworthy new nation in its first two decades after the Revolutionary War by paying its debts, even when many in the country believed it had no obligation to do so. Alexander Hamilton, the founder of this newspaper, insisted on it.
'The Sopranos' gets praised as novelistic, but it follows the most banal of life patterns, showing the sheer tedium of being a mobster. It has dead spots, boring plotlines, weak episodes. Characters develop slowly, or don't. Like viewers, a gangster might get bored, fade out of the action, then come back to find none of his debts forgotten.
I refer, of course, to the debts our nation has amassed for itself over decades of indulgence. It is the new Red Menace, this time consisting of ink. We can debate its origins endlessly and search for villains on ideological grounds, but the reality is pure arithmetic.
And that's the one thing that people do not understand is that we have very low interest rates and if those go back to historical levels or even go back to scary thoughts that they're back in the late '70s, early '80s, then that's going to really be hard to actually pay off those debts. It's going to be a - it's going to be a very big problem.
The Congo is very wealthy from oil money but is not paying its debts and at the same time is applying for special status at the World Bank. That's shocking and disingenuous.
At 20, 25, 30, we begin to realise that the possibilities of escape are getting fewer. We have jobs, children, partners, debts. This is the part of us to which literary fiction speaks.
All that seems indispensible in stating the account between the dead and the living, is to see that the debts against the latter do not exceed the advances made by the former.
Medical debts are the number-one cause of bankruptcy in America.
Being unemployed is even more disastrous for individuals than you'd expect. Aside from the obvious harm - poverty, difficulty paying off debts - it seems to directly affect people's health, particularly that of older workers.
Pay your utilities, gas and other basic needs before paying on your debts.
Not so long ago, companies that borrowed lots of money were considered risky, appropriate only for daredevil stock pickers. Those with lots of cash on hand and few outstanding debts might be dull stocks, but they were at least safe bets for bondholders.
We can pay our debts to the past by putting the future in debt to ourselves.
Everyone in our society has had to make a contribution towards dealing with the debts.
The federal government now spends one of every four dollars in the entire economy. It borrows one of every three dollars it spends. No nation, no entity, large or small, public or private, can thrive, or survive intact, with debts as huge as ours.
In this business, if you don't pay your debts you're finished.
Eurobonds are absolutely wrong. In order to bring about common interest rates, you need similar competitiveness levels, similar budget situations. You don't get them by collectivizing debts.
The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves.
And here a most heinous charge is made, that the nation has been burdened with unnecessary expenses for the sole purpose of preventing the discharge of our debts and the abolition of taxes.
Well what would happen is that if Greece defaulted and couldn't pay its debts, all the Greek bonds that are held in other banking systems across Western Europe would suddenly have no value. You could as a knock-on effect create a banking crisis in Western Europe.
It is absolutely impossible to settle the debts to pensioners, teachers, and others. The country hasn't got enough money to do so.
I have worked long and hard to try to reduce my debts, and I am devastated that it came to this conclusion. I now intend to focus on the remaining dates of the Westlife tour and my commitments to the band before looking to rebuild a future for my wife, my three children and myself.
Further Education should be about the ability to learn, not the ability to pay - everyone who is able should have the opportunity, regardless of their family background. I don't want to see students struggling with huge debts or frightened off even going to university in the first place.
I would not trade America's position in the world - our ledger, our debts and assets - for any country in the world. There isn't a country in the world even close to America.
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