A Quote by Ben Bernanke
Well, optimism's a good thing. It - makes people go out and - you know, start businesses and spend and do whatever is necessary to get the economy going.
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It is important to stop being critical and judging ideas as good or bad because I think if somebody doesn't have a lot of experience you worry their idea is going to be bad, it's not going to be good enough, if not going to be active enough and so you can start to think critically about people's suggestions or what they bring to it but once you get out of that and think whatever they come up with is the right thing right now and so I'm just going to build on it just makes everything so much easier and better.
So I made an outline. Well, you know, days are going by, and I am not writing anything because this thing is laid out in front of me. It's as if you get every brochure for a trip you are going to go on and you get the minutest details of every step along the way. Well, I really doubt you're going to then get in the car and go. You know, it's like, why bother if it's all laid out in front of you?
I tend to go with things people need. Obviously with the barbershop, people will need haircuts regardless of the economy. In a down economy, I choose businesses that don't require a lot of start-up cash or a cash injection on a regular basis. They might need some initially, but not often after. Rental of properties is a good business in a down economy as people struggle with mortgages.
Good businesses are the lifeblood of the economy. But, as responsible business people up and down the country know, the system too often allows good businesses to be undercut by bad.
The key thing for a CEO to keep their head in the game is recognize that there's turbulent times, plan for, you know, bad luck as well as good luck, keep people focused on what the key, you know, business wins are, and you know, provide the energy that people always need in order to, you know, to go into battle because, you know, work is hard and go into work and do that well. And provide a good leadership beacon for that. In other words, it's the same thing that makes good leadership in any other time.
The American people know what's necessary to get this economy moving again. It's fiscal discipline in Washington, D.C. and across-the-board tax relief for working families, small businesses and family farms.
When the government takes more money out of the pockets of middle class Americans, entrepreneurs, and businesses, it lessens the available cash flow for people to spend on goods and services, less money to start businesses, and less money for businesses to expand - i.e. creating new jobs and hiring people.
Trickle-down economics - it didn't work. The whole idea was supply-side economics: give rich people a lot of money; they'll spend it, it'll go into the economy. Here's what we found out - rich people, really good at keeping all the money. That's how they got rich. If you want it in the economy, give it to the poor people. You know what they're really good at? Spending all their money.
We spend a lot of time and effort trying to figure out who's going to be a good NFL quarterback, and we do a very bad job of it. We don't really know. And we also spend a lot of time trying to figure out who will be a good teacher, and we're really bad at that too. We don't know if someone is going to be a good teacher when they start teaching. So what should we do in those situations in which predictions are useless?
think people get scared that they’re not going to be able to do it perfectly - they’re going to be criticized - they’re going to be like, “Well, I’m not totally green.” Well, you know what? At this point we don’t care... Just a shade of green is enough right now. Move a little bit closer towards this. Because the more people start moving closer and closer to it, that’s something that collectively makes a difference.
Boom and bust cycles are very difficult for businesses because you're hiring a bunch because you're planning for the future. And if the future is going to be very big, you need to hire people, or suddenly you go to boom to bust, then all of a sudden, you're kind of battening down the hatches and trying to sail, you know, through the storm, it's a different thing. So part of it is making good decisions about, well, how long is a boom cycle going to be, you know, don't plan on it going forever.
Unfortunately, this will have a ripple effect in the economy. People carrying heavy student-loan debt won't buy houses, start families, or start businesses. This will hurt the future economy.
I know a lot is going to be on our shoulders, especially the way we're starting games out. We have to start faster; I have to be sharper from the start, and I will be. And I'm confident that if we can get this thing started out a little better each week that we can get on that roll and be tough to stop.
Once you get out there and start playing basketball, whether the NBA or college or whatever arena you are playing in or who you are playing in front of, the juices start going, and you want to just go out there and play to the best of your abilities.
People who are going to get along really well know it almost as soon as they meet. You spend a little while talking and everyone starts to feel this conviction, you're all equally sure that you're at the beginning of something good. That's how it is when you meet people you're going to be with for a long time.
I think a lot of times when people have "creative blocks" and I know my share of friends do as well if they're at just some stuck point. They're not sure what to do with their lives or their writing or their photography or their filmmaking or whatever it is that they're doing. I think the best advice is you have to change your life up completely; to go on a trip, to go spend a year being of service. Be willing to take some major drastic action to get you out of your comfort zone and go inside, not outside.
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