A Quote by David Wessel
There is the fact that - people have had a lot of confidence that the Chinese leadership could fix what is wrong with their economy so it wouldn't have ripple effects around the world. I think that confidence is being shaken by how difficult it is for them to manage their stock market and their currency.
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Confidence is not lodged in people's brains, it comes from the support system that surrounds them. Let's not confuse confidence overall with just self-confidence. Self-confidence is only one part of confidence. People also need confidence in others - their colleagues and leaders - that they can count on them to do the right thing and not to let them down.
"Leadership" is a big topic today. We know that the world - nations and communities in addition to companies - needs more and better leaders. So I wanted to explore how leaders make a difference, how they can shift a negative cycle, turn around a losing organization, propel a team to victory when conditions aren't perfect. I saw that what leaders do is build confidence in advance of victory. Then the confidence they produce makes the hope of success turn into the reality of success, because people behave differently when they are surrounded by a culture of confidence.
I've always enjoyed the fact that a lot of people didn't have that much confidence in what I could do because I enjoy proving people wrong.
When I look at Franklin Roosevelt's leadership, I think the most important quality he had during the Depression and the war was this absolute confidence in himself, in his country, really in the American people. He was able to exude that confidence and almost project it.
Do people have confidence? I think the real confidence you need is the confidence in your outlook, and I think people are pretty confident it is a low-growth world.
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?
My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. . .you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. . .I think you could see a 25% reduction in the standard of living in this country if the U.S. dollar was no longer the world's reserve currency. That's how valuable it is.
I actually think that the economy has got some positives. It's got the market. It's got consumer confidence and it's got banks throwing - I mean central bankers throwing money at it around the world.
Some people confuse confidence with arrogance. There's no doubt in the business world there are a few big egos and I think arrogance can get in the way. But if you have the confidence to go to your higher superior and say this is wrong, it can make a difference.
The stuff I've seen and lived and survived. Gun to my head, cops coming to your house. I had the confidence of telling myself that I'm going to make it. Everything I've been through, I could've had a mental breakdown, but I kept it together. If I didn't have that confidence I wouldn't have made it. That confidence has nothing to do with basketball.
I think the rejection - if it's taken in the right spirit, it can make you a better person. And I think that is what I've always striven for. If one thing didn't work out, a project or anything, it doesn't mean that I lose my own confidence. In fact, I give myself a lot more confidence and opportunities.
In the economy we guarantee all market players the same conditions, and the private sector plays an increasingly important role. We are in the process of dissolving thousands of state-owned companies and converting them into stock corporations. We even plan to accelerate this development. In contrast, it is the party's responsibility to improve the lives of the people, and this is where our citizens have great confidence in us. Party members who commit crimes are severely punished.
The argument for the free market is a complicated and sophisticated one and depends on demonstration of secondary effects. I have confidence market efficiency will win out.
That American confidence is more alive and well than it should be, to this day. But it's such a problem. There's a blindness to that confidence, a presumption that what's good for me is good for you. No! That's what teenagers think: the world revolves around them. As a nation, we've got to stop thinking that way. We're getting too old for that.
You know, I think my biggest concern [if Mitt is elected], obviously, would just be for his mental well-being. I have all the confidence in the world in his ability, in his decisiveness and his leadership skills, in his understanding of the economy, in his understanding of what's missing right now in the economy - you know, pieces that are missing to get this jump-started. So for me I think it would just be the emotional part of it.
The world is full of men who want to be right, when actually the secret of a man's strength and his pathway to true honor is his ability to admit fault when he has failed. God wants to fill the church with men who can say they are wrong when THEY ARE WRONG. A man who is willing to humble himself before God and his family and say: "I was wrong." will find that his family has all the confidence in the world in him and will much more readily follow him. If he stubbornly refuses to repent or admit he was wrong, their confidence in him and in his leadership erodes.
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