Many kids come out of college, they have a credit card and a diploma. They don’t know how to buy a house or a car or health insurance or life insurance. They do not know basic microeconomics.
Money is a poor man’s credit card.
Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0 percent balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.
L’Oreal’s slogan ‘because you’re worth it’ has come to epitomise banal narcissism of early 21st century capitalism; easy indulgence and effortless self-love all available at a flick of the credit card.
Government has a habit of blaming the private sector for its own failings while taking credit for advances we in fact owe to the private sector.
There is nothing less to our credit than our neglect of the foreigner and his children, unless it be the arrogance most of us betray when we set out to ‘Americanize’ him.
Truth lives, in fact, for the most part on a credit system. Our thoughts and beliefs pass, so long as nothing challenges them, just as bank-notes pass so long as nobody refuses them.
Nobody had a credit card when I was a kid. No one had credit card debt. But these big companies and banks wanted to know how to get more money out of people – get them charging things.
Who quick be to borrow and slow be to pay, their credit is naught, go they ever so gay.
He that hath lost his credit is dead to the world.