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.
If you followed this economic crisis and you do not think that the world is getting flatter, you are not paying attention. We saw the entire global economy at one time acting totally in sync. The real truth is the world is even flatter than I thought. Our mortgage crisis is killing Deutsche Bank. You still don't think the world is flat?
One of the evils of paper money is that it turns the whole country into stock jobbers. The precariousness of its value and the uncertainty of its fate continually operate, night and day, to produce this destructive effect. Having no real value in itself it depends for support upon accident, caprice, and party; and as it is the interest of some to depreciate and of others to raise its value, there is a continual invention going on that destroys the morals of the country.
Long experience, in the United States and in other advanced economies, has demonstrated that monetary policy is most successful when decisions are rendered independent of influence by elected officials.
There's no reason to think that_x000D_ markets always drive people to_x000D_ what's good for them.
There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.
During the next four years...unless drastic steps are taken by Congress, the U.S. will have nearly 8,000,000 unemployed and will stand on the brink of a deep depression.
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