A Quote by Alan Greenspan
Finance is wholly different from the rest the economy.
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If you really think about the fabric of the United States, or the finance of any economy, finance is a true underpinning of what makes the economy great - if it can be done successfully, responsibly, and with a client orientation.
The vast sums of money that are coming in at the top end of the game are stretching the rest of the sides to try to get as much benefit out of what finance they've got and get the best players they can find for that finance.
Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing part of the economy in every country has been the Finance, Insurance and Real Estate (FIRE) sector, which comprises the rent and interest paid to the economy's balance sheet of assets by debtors and rent payers.
You can't underestimate rest. Sometimes in tennis we don't realize that to rest your body is as important as it is to practice. We are traveling so much, all year, in different conditions, different courts, different surfaces, different balls - so we always have to adapt.
If you look at national economies today, for example, the American economy, the European economy, the Indians, the Chinese, we're all tied together. If one of them sinks, the rest are going to sink with them and if one floats, the rest are lifted up. I find that very interesting.
I believe strongly that we need a finance industry that is good for the economy, and I don't think anybody would argue that during the eight years leading up to the Great Recession, a lot of bets were made [and] risks taken that weren't good for the economy.
To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.
I think the economy in the US has surprised. The old adage is that if America sneezes, the rest of the world catches a cold. If the US economy does well, the global economy will do well.
Some of the people in finance touch enormous parts of the economy.
The economy is a wholly owned subsidiary of the environment, not the reverse.
The word Gothic, in the sense in which it is generally employed, is wholly unsuitable, but wholly consecrated. Hence we accept it and we adopt it, like all the rest of the world, to characterize the architecture of the second half of the Middle Ages, where the ogive is the principle which succeeds the architecture of the first period, of which the semi-circle is the father.
Our goal is to make finance the servant, not the master, of the real economy.
So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after paying taxes and after paying the FIRE sector (Finance, Insurance, Real Estate). Whether it's housing insurance or mortgage insurance. So there's an idea of distracting people. Don't think of your condition. Think of how the overall economy is doing. But don't think of the economy as an overall unit. Think of the stock market as the economy. Think of the rich people as the economy. Look at the yachts that are made. Somebody's living a lot better. Couldn't it be you?
If you look on Amazon - if you do a search for personal finance, there are literally 20,000 books written on personal finance, and there's no real reason for it. I mean, personal finance is pretty simple.
Chidamabaram has ruined the economy. He has turned out to be a third-rate failure as finance minister.
The life that intends to be wholly obedient, wholly submissive, wholly listening, is astonishing in its completeness. Its joys are ravishing, its peace profound, its humility the deepest, its power world-shaking, its love enveloping, its simplicity that of a trusting child.
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