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— Henrik Ibsen"There can be no freedom or beauty about a home life that depends on borrowing and debt."
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As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth ... to provide men with buying power. ... Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. ... The other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.
— Marriner Stoddard Eccles
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The Fed's low-interest policy not only encourages spending and borrowing, it discourages the one thing that best helps people raise themselves into higher economic classes — saving.
— Mark Thornton
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