Quotes of All Topics . Occasions . Authors
From the Left comes the proposition that, given the slow economy, we should defer attending to the problem of mounting obligations - and the truly delusional idea that growing federal debt doesn't matter because we owe most of it to ourselves.
During my 30 years on Wall Street, taxes on “unearned income” have bounced up and down with regularity, and I’ve never detected any change in the appetite for hard work and accumulating wealth on the part of myself or any of my fellow capitalists.
During my 30 years on Wall Street, taxes on 'unearned income' have bounced up and down with regularity, and I've never detected any change in the appetite for hard work and accumulating wealth on the part of myself or any of my fellow capitalists.
For decades, our dependence on OPEC oil has dictated our national security decisions and tied us up in the Middle East at an incredible price. We've spent more than $5 trillion and thousands of American soldiers have died securing Middle East oil.
As a beneficiary of the carried interest loophole, I've seen firsthand the lack of any difference between the work involved in generating a carried interest and the work done by millions of other professionals who are taxed at the full 35 percent rate.
The essence of any plan for financing old age is saving-to put aside some part of today's earnings for the future. Anything that saps the value of savings-and inflation is the worst single threat-is the enemy of the aged and of those who expect to grow old.
The federal investment in finding cures for cancer - $3 billion annually [as of 1999] - is less than ... zero ... point ... zero ... zero ... zero ... four ... percent of our gross domestic product, or about one-seventh of what Americans spend on beauty products.
Nothing but widespread suffering will produce any effect on Congress... Our only safety is in pursuing a steady course of firm restriction - and I have no doubt that such a course will ultimately lead to restoration of the currency and the re-charter of the bank.
Eye-popping tales of growing income inequality are hardly new. By now, nearly every American must be painfully aware of the widening pay gap between top executives and shop floor laborers; between 'Master of the Universe' financiers and pretty much everyone else.
There's no substitute for rolling up your sleeves and working with the people who can make a difference. They get the benefit of your participation and you gain a direct understanding of the real problems and potential solutions, which makes you a more informed giver.
This is a sad day for the Minnesota Twins, Major League Baseball and baseball fans everywhere. I loved Kirby deeply. A tremendous teammate, Kirby will always be remembered for his never-ending hustle, infectious personality, trademark smile and commitment to the community.
There's no question that tar sands in Canada are probably the largest source of oil available to the U.S. over a long period of time. There's as much oil in the tar sands probably as there is in Saudi Arabia. The problem is, there's a huge capital requirement to develop that.
It's important to understand that oil and renewables do different things. Wind and solar are for power generation, so they don't replace oil. About 70% of all oil produced is used for transportation fuel. Renewables are good projects, but they don't get us off of foreign oil.
Colleges don't teach economics properly. Unfortunately we learn little from the experience of the past. An economist must know, besides his subject, ethics, logic, philosophy, the humanities and sociology, in fact everything that is part of how we live and react to one another.
Keep things informal. Talking is the natural way to do business. Writing is great for keeping records and putting down details, but talk generates ideas. Great things come from out luncheon meetings which consist of a sandwich, a cup of soup, and a good idea or two. No martinis.
Historically, over the last two or three hundred years, the relationship that we've had with money as a society - having money, talking about money - has been a little bit of a shameful thing. Splashing money about is clearly wrong, but there's nothing wrong about giving it back.
Whatever task you undertake, do it with all your heart and soul. Always be courteous, never be discouraged. Beware of him who promises something for nothing. Do not blame anybody for your mistakes and failures. Do not look for approval except the consciousness of doing your best.
We are living in a highly organized state of socialism. The state is all; the individual is of importance only as he contributes to the welfare of the state. His property is only his as the state does not need it. He must hold his life and his possessions at the call of the state.
Finally, let's keep well in mind the most important lesson of the auto rescue: While government should stay away from the private sector as much as possible, markets do occasionally fail, and when they do government can play a constructive role, as it did in the case of the auto rescue.
Increased revenues, meaning higher taxes, will be a central element of any successful long-term budget plan, and President Obama is right to insist that the wealthy - the slice of America that has come through the recession in by far the best financial health - should provide those funds.
To fix Social Security, we should first stop using the Consumer Price Index to adjust benefits for inflation. Using the C.P.I. overstates the impact of inflation and has also led to larger increases in benefits for Social Security recipients than the income gains of typical American workers.
Picking winners among the many young companies seeking money is a tough business, even for the most sophisticated investors. Indeed, most professionally run venture funds lose money. For individuals, it's pure folly. Buy a lottery ticket instead. Your chance of winning is likely to be higher.
Neither the George W. Bush nor the Obama administrations volunteered to bail out G.M., Chrysler and other parts of the auto sector. Both subscribed firmly to the longstanding American principle that government should resolutely avoid these kinds of interventions, particularly in the industrial sector.
We are now spending half a trillion dollars on foreign oil, importing 62 percent of the oil we use, and we haven't had the leadership in D.C. to do anything about it. We've got to move to other sources of energy. But we've gotten way behind, and will continue to pay the fiddler. It's not a good future.
Seldom do we experience the charisma and character of a dynamic personality such as Lou Holtz, the very successful former football coach of Notre Dame. Lou has left his distinctive mark of success everywhere he has coached. Winning Every Day is not just a catchy phrase, but with Coach Holtz, a way of life.
Approach each new problem not with a view of finding what you hope will be there, but to get the truth, the realities that must be grappled with. You may not like what you find. In that case you are entitled to try to change it. But do not deceive yourself as to what you do find to be the facts of the situation.
Learn to take losses quickly and cleanly. There is something about inside information which seems to paralyze a man's reasoning powers. Beware of barbers, beauticians, waiters - or anyone - bringing gifts of 'inside' information or tips. Don't try to be a jack of all investment. Stick to the field you know best.
Earlier in this century, philanthropy often flowed from the wills of dead industrialists. In recent decades, it's as likely to have come from a very alive business leader, entertainer, artist or sports star. The most effective of these patrons begin the process of giving by asking what they care about passionately.
In the midst of the complexities of modern life, with all its pressures, the spirit of man needs to refresh itself by communion with unspoiled nature. In such surroundings- occasional as our visits may be- we can achieve that kind of physical and spiritual renewal that comes alone from the wonder of the natural world.
People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.
I do believe that oil production globally has peaked at 85 million barrels. And I've been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises.
A dangerous fallacy is to repudiate freedom in favor of an unknown future. What else but our own sturdy reliance on freedom can explain the unexampled record this country has made? In a period scarcely twice my own lifetime it has risen from nothingness to become the world's greatest power. It has become the ark of the covenant of freedom.
We've got all these politicians talking about better health care and what all, but believe me, we're not going to have the money to take care of sick people.. or anyone else as far as I'm concerned.. if we don't fix our energy problem right now. I've got an idea what to do. It might not be a perfect idea, but hell, none of my best ideas have been perfect.
America has never forgotten - and never will forget - the nobler things that brought her into being and that light her path - the path that was entered upon only one hundred and fifty years ago ... How young she is! It will be centuries before she will adopt that maturity of custom - the clothing of the grave - that some people believe she is already fitted for.
Don't talk to me about appealing to the public. I am done with the public, for the present anyway. The public reads the headlines and that is all. The story itself is fair and shows the facts. That would be all right if the public read the facts. But it does not. It reads the headlines and listens to the demagogues and that's the stuff public opinion is made of.
In the four decades of philanthropy that have paralleled my business career, I've found that the same principles apply whether you're providing access to capital to grow a business, creating a new paradigm for medical research, or pioneering innovative approaches to education: Empower the most talented people in each field and encourage them to pursue their passions.
Small and mid-sized companies in this country historically have been responsible for creating the overwhelming majority of new jobs in the private sector. One of the most-common misconceptions about our private enterprise system is that large companies, such as the Fortune 500, are integral to the process of job creation in this country. The truth is quite the opposite.
Recipe for success: Be polite, prepare yourself for whatever you are asked to do, keep yourself tidy, be cheerful, don't be envious, be honest with yourself so you will be honest with others, be helpful, interest yourself in your job, don't pity yourself, be quick to praise, be loyal to your friends, avoid prejudices, be independent, interest yourself in politics, and read the newspapers.
If business is going to continue to sell through the decades, it must also promote an understanding of what made those products possible, what is necessary to a free market, and what our free market means to the individual liberty of each of us, to be certain that the freedoms under which this nation was born and brought to this point shall endure in the future ... for America is the product of our freedoms.
Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. Benjamin Strong, Governor of the bank, was chief advocate of this unwise measure, which was taken largely at the behest of Montagu Norman of the Bank of England....At the time of the Banks action I warned of its consequences....I felt that sooner or later the market had to break.
A man sentenced to death obtained a reprieve by assuring the king he would teach his majesty's horse to fly within the year - on the condition that if he didn't succeed, he would be put to death at the end of the year. "Within a year," the man explained later, "the king may die, or I may die, or the horse may die. Furthermore, in a year, who knows? Maybe the horse will learn to fly." My philosophy is like that man's. I take the long-range view.
Peace is never long preserved by weight of metal or by an armament race. Peace can be made tranquil and secure only by understanding and agreement fortified by sanctions. We must embrace international cooperation or international disintegration. Science has taught us how to put the atom to work. But to make it work for good instead of for evil lies in the domain dealing with the principles of human dignity. We are now facing a problem more of ethics than of physics.
Get to know yourself. Know your own failings, passions, and prejudices so you can separate them from what you see. Know also when you actually have thought through to the nature of the thing with which you are dealing and when you are not thinking at all... Knowing yourself and knowing the facts, you can judge whether you can change the situation so it is more to your liking. If you cannot--or if you do not know how to improve on things--then discipline yourself to the adjustments that will be necessary.