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— Michael Hudson"So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages, credit cards, student loans, bank loans and other obligations that they have less to spend on goods and services. So markets shrink. New investment and employment fall off, and the economy is falls into a downward spiral."
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How can we recognize if we're falling into materialism's trap? Christ's words were direct and profound: "Where your treasure is, there your heart will be also" . What we do with our possessions is a sure indicator of what's in our hearts. Jesus is saying, "Show me your checkbook, your credit card statement, and your receipts for cash expenditures, and I'll show you where your heart is." What we do with our money doesn't lie. It is a bold statement to God of what we truly value.
— Randy Alcorn
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I have no credit cards. That was the decision that was made jointly by the credit card companies, and by me. I can't say that that was completely on my account. I buy nothing on credit now, nothing. If I can't afford it, I don't buy it. I have a debit card, that's all I have. Any debt that I have, I am paying down.
— Neal Gabler
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