quotations about debt
On one level the difference between an obligation and a debt is simple and obvious. A debt is the obligation to pay a certain sum of money. As a result, a debt, unlike any other form of obligation, can be precisely quantified. This allows debts to become simple, cold, and impersonal--which, in turn, allows them to be transferable. If one owes a favor, or one's life, to another human being--it is owed to that person specifically. But if one owes forty thousand dollars at 12-percent interest, it doesn't really matter who the creditor is; neither does either of the two parties have to think much about what the other party needs, wants, is capable of doing--as they certainly would if what was owed was a favor, or respect, or gratitude. One does not need to calculate principal, balances, penalties, and rates of interest. If you end up having to abandon your home and wander in other provinces, if your daughter ends up in a mining camp working as a prostitute, well, that's unfortunate, but incidental to the creditor. Money is money, and a deal's a deal.
DAVID GRAEBER
Debt: The First 5,000 Years
In many ways, student debt is like kerosene on a fire, accelerating the disparities raging across our communities.
SETH FROTMAN
attributed, "New Report Traces Dramatic Rise in Student Loan Debt in the Bay Area", KQED, April 23, 2019
What is debt anyway? A debt is just the perversion of a promise. It is a promise corrupted by both math and violence.
DAVID GRAEBER
Debt: The First 5,000 Years
Forgive us our debts, as we forgive our debtors.
BIBLE
Matthew 6:12
Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders; and whenever you get in its way or cross its course or fail to meet its demands, it crushes you.
J. REUBEN CLARK
Selected Papers on Religion
A debt that will be used to start a business opportunity is the only time that I ever encourage people to borrow money.
CHINKEE TAN
"Stay out of bad debt", Tempo, July 11, 2019