You are the Master of your Fate, the Captain of your Soul.
Henry FordRead
Burdening people with debt is an old deal not a new deal.
Interpretation
Debt has always been a significant issue in society, not just a recent phenomenon.
Henry Ford's quote highlights the historical nature of debt as a societal burden, suggesting that financial debt and its implications have been a longstanding challenge rather than a modern concern. By framing debt as an 'old deal,' Ford emphasizes the importance of recognizing and addressing this ongoing issue, as it affects both individuals and communities throughout history.
In practice
During a financial seminar, one could quote this to emphasize the historical context of debt.
You are the Master of your Fate, the Captain of your Soul.
Work mixed with management becomes not only easier but more profitable. The time is past when anyone can boast about 'hard work' without having a corresponding result to show for it.
An Airplane takes off against the wind, not with it.
Merely gathering knowledge may become the most useless work a man can do. What can you do to help and heal the world? That is the educational test.
I cannot discover that anyone knows enough to say definitely what is and what is not possible.
A dollar put into a book and a book mastered might change the whole course of a boy's life. It might easily be the beginning of the development of leadership that would carry the boy far in service to his fellow men.
Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.
If you don't talk about families, then it's easy to disembody subprime mortgages and asset securitization and unemployment rates without remembering that every one of those numbers is a million families.
Economists who adhere to rational-expectations models of the world will never admit it, but a lot of what happens in markets is driven by pure stupidity - or, rather, inattention, misinformation about fundamentals, and an exaggerated focus on currently circulating stories.
The problem is this. The spread of markets outpaces the ability of societies and their political systems to adjust to them, let alone to guide the course they take
I cannot disagree with you that having something like 500 economists is extremely unhealthy. As you say, it is not conducive to independent, objective research. You and I know there has been censorship of the material published. Equally important, the location of the economists in the Federal Reserve has had a significant influence on the kind of research they do, biasing that research toward noncontroversial technical papers on method as opposed to substantive papers on policy and results
The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.
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