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If some institution wants to sell you a billion dollars worth of mortgages, they might have to sell 100 million in the market, and then you'll buy the other 900 million on the same terms. Now, the very fact that this has been authorized or will be authorized, I hope, will firm up the market to some degree. And that's fine. But you don't want to have artificial prices being paid.
You still owe me a million dollars." I'd presented him with a bill for proving his innocence and getting him freed from prison. He had yet to pay. Couldn't imagine why. "Yeah, I was hoping we could work that out." "The interest alone is going to kill you." "What do you charge?" "Three hundred eighty-seven percent." "Is that ethical?" "It's as ethical as my dating the son of Satan.
We are mortgaging ourselves to foreigners on a scale that would make George Washington cry. Every day - every single day - we borrow a billion dollars from foreigners to buy petroleum from abroad, often from countries that hate us. We are the beggars of the world, financing our lavish lifestyle by selling our family heirlooms and by enslaving our progeny with the need to service the debt.
We started in our living room on a card table in our living room, and we have a multi-million dollar company and we know it can be done without borrowing a dime. It takes a while to get it started and to turn the wheel over, but the next time it's easier and the next few hundred times, it's easier than that. Have a budget where you reinvest a percentage of every dollar you earn to grow it.
American voters should understand that Congress will always find a way to spend every last dollar sent to Washington. Remember, politicians get votes by promising everything to everyone, always at the expense of some other invisible taxpayers. ...The federal government cannot maintain a budget surplus any more than an alcoholic can leave a fresh bottle of whiskey untouched in the cupboard.
Generally speaking, investing in yourself is the best thing you can do. Anything that improves your own talents; nobody can tax it or take it away from you. They can run up huge deficits and the dollar can become worth far less. You can have all kinds of things happen. But if you’ve got talent yourself, and you’ve maximized your talent, you’ve got a tremendous asset that can return ten-fold.
I train myself. I don't have trainers who want hundreds of thousands of dollars to train me. I hire who I want to put the grease on my face, to rub my neck and rub my back, to take my mouthpiece out and rinse it off and put the mouthpiece back in. And then I go about my business. And if they want to say something, they can give me little reminders. All you need are reminders. You don't need 'big-time' trainers.
The risk of an investment is described by both the probability and the potential amount of loss. The risk of an investment-the probability of an adverse outcome-is partly inherent in its very nature. A dollar spent on biotechnology research is a riskier investment than a dollar used to purchase utility equipment. The former has both a greater probability of loss and a greater percentage of the investment at stake.
By using general consumption PPPs, the World Bank is, in effect, saying to the poor: "Sure, you cannot buy as much food as the dollar value we attribute to your income would buy in the United States. But then you can buy much more by way of services than you could buy with this PPP equivalent in the United States." But what consolation is this? The poor do not buy services - they are services, on their luckier days.
There is no way they should walk out of that place [Wells Fargo] with millions, tens of millions, tens and tens of millions of dollars, when innocent people who actually flagged this culture of conceit and culture of rip off should've been fired while the people who were doing it somehow are able to just resign and reap the big reward. It's just an outrage. It's people who have forgotten decent values towards other people.
A strong currency means that American consumers and businesses can buy imported goods and services more cheaply and that inflation and interest rates will be lower, ... It also puts pressure on American industry to increase productivity and competitiveness. These benefits can feed on themselves as foreign capital flows in more readily because of greater confidence in our currency. A weak dollar would have the contrary effects.
While business advertises, charity is taught to beg. While business motivates with a dollar, charity is told to motivate with guilt. While business takes chances, charity is expected to be cautious. We measure the success of businesses over the long term, but we want our gratification in charity immediately. We are taught that a return on investment should be offered for making consumer goods, but not for making a better world.
I think the music industry, for instance, is such a huge, multibazillion-dollar industry and it's become very, very savvy. There's a very short grace period in which actual human rebellion or resistance can thrive before it's co-opted by these huge companies. And all of youth culture is packaged and sold back to us at this furious rate these days. I think it's part and parcel to this corporate encroachment on our lives in general.
Hey, big spender,” I said. He looked appreciative but more amused than anything else. He reached into his pocket and pulled out a one dollar bill. “Hugh,” I said. “Don’t insult me.” With a sigh, he produced a five and tucked it underneath my bra strap. “Hey, Seth,” Cody suddenly said. I looked up and saw Seth standing in the doorway. A look of comic bemusement was on his face. “Hey,” he said, studying me. “So…you’re paying for dinner?
If you deconstruct the movies that have done well, Pixar-type movies that do incredibly well and make hundreds of millions of dollars, they have a strain of decency and conservatism that maybe even their filmmakers don't even recognize. Yet, we cross our fingers that by mistake, liberal filmmakers and liberal producers are going to by mistake make conservative movies. We have to become invested in it, or else we have no excuse to complain.
[The U.S. Treasury] can borrow basically unlimited amounts. They can stay there for years and years. These assets will be worth more money over time. So when Merrill Lynch sells a bunch of mortgage-related assets at 22 cents on the dollar like they did a month or so ago, the buyer goes - is going to make money, and he's going to make a lot more money if it happens to be an institution like the U.S. government which has very, very cheap borrowing costs.
How can a man be satisfied to entertain an opinion merely, and enjoy it? Is there any enjoyment in it, if his opinion is that he is aggrieved? If you are cheated out of a single dollar by your neighbor, you do not rest satisfied with knowing that you are cheated, or with saying that you are cheated, or even with petitioning him to pay you your due; but you take effectual steps at once to obtain the full amount, and see that you are never cheated again.
I think that many citizens understand how our system works, or rather, fails to work, for structural reasons. But who has the capacity and the incentives to bring change? The banks and other corporations love the system because it allows them to buy legislation that serves their own interests even at the expense of the vast majority of citizens. Incumbent politicians love the system because it allows them to raise millions of dollars toward defending their seats.
There is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation.
If top marginal income tax rates are set too high, they discourage productive economic activity. In the limit, a top marginal income tax rate of 100 percent would mean that taxpayers would gain nothing from working harder or investing more. In contrast, a higher top marginal rate on consumption would actually encourage savings and investment. A top marginal consumption tax rate of 100 percent would simply mean that if a wealthy family spent an extra dollar, it would also owe an additional dollar of tax.
We tell the for-profit sector, 'Spend, spend, spend on advertising until the last dollar no longer produces a penny of value,' but we don't like to see our donations spent on advertising in charity. Our attitude is, 'Well look, if you can get the advertising donated (at four o'clock in the morning) I'm okay with that, but I don't want my donation spent on advertising, I want it to go to the needy,' as if the money invested in advertising could not bring in dramatically greater sums of money to serve the needy.
Many people say, "When I get a million dollars, then I'll be happy because I'll have security," but that's not necessarily so. Most people who acquire a million dollars want another and then another. Or they could be like a good friend of mine who made and lost every dime of a million dollars. It didn't bother him a bit. He wasn't excited about it, but he explained to me, "Zig, I still know everything necessary to make another million dollars, and I've learned what to do not to lost it. I'll simply go back to work and earn it again.
If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible - but there it is.
The debt settlement company will direct you to stop paying your creditor and instead send the money directly to them each month. The company's goal is to demonstrate to your creditor that you don't have the money to pay up - that's your leverage. After a few months, the company will typically go to the creditor and say, "I'm holding X dollars on behalf of your customer. He doesn't have the money to pay you, so you should take this amount as a settlement or you'll end up with nothing." If the creditor wants to get paid badly enough, it will take the money.
