A Quote by Eli Broad
I don't think the market can keep going up. In the U.S., we see real estate not going up.. houses are selling at lower prices. You can't have anything going up 10 percent to 20 percent to 30 percent indefinitely.
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[Obamacare] premiums are going up 60 percent, 70 percent, 80 percent. Next year they're going to go up over 100 percent. And I'm really glad that the premiums have started - at least the people see what's happening.
When the commodities go up and the cost of transportation is going up, and the value of the dollar is going down, it's all going to translate to an 8 to 10 percent rise in food prices.
I'm going to create tremendous jobs. And we're bringing GDP from, really, 1 percent, which is what it is now, and if Hillary Clinton got in, it will be less than zero. But we're bringing it from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.
If Obama raises my company's taxes by 20 percent, how am I going to be able to survive as a company? Well, if I've got 30 employees, that means I'm going to have to lay off 10 employees so I can be able to keep up with the health and benefits and pension plans for my other 20 employees.
But I see now that whether I show up for work or not, the evil forces are going to beat me. They're going to come 100 percent, so if I dont be 100 percent pure-hearted, I'm going to lose. And thats why I'm losing.
In 1990, about 1 percent of American corporate profits were taken in tax havens like the Cayman Islands. By 2002, it was up to 17 percent, and it'll be up to 20-25 percent very quickly. It's a major problem. Fundamentally, we have a tax system designed for a national, industrial, wage economy, which is what we had in the early 1900s. We now live in a global, asset-based, services world. And we need to have a tax system that follows the economic order or it's going to interfere with economic growth, it's going to reduce people's incomes, and it's going to damage the US.
I'm not saying that advertising is going away. But the balance is shifting. If today the successful recipe is to put 70 percent of your energy into shouting about your service and 30 percent into making it great, over the next 20 years I think that's going to invert.
All they need to do is to set up some website somewhere selling some bogus product at twenty percent of the normal market prices and people are going to be tricked into providing their credit card numbers.
I've heard people say putting is 50 percent technique and 50 percent mental. I really believe it is 50 percent technique and 90 percent positive thinking, see, but that adds up to 140 percent, which is why nobody is 100 percent sure how to putt.
In the late 1980s the amount of German films was down to four or five percent of the market, and the remaining 95 percent were American. It is now 20 to 30 percent German productions.
My biggest worry is that Obama says he's going to tax the upper 5 percent by raising their taxes by 20 percent. But among that 5 percent are the corporations that are hiring middle-class Americans.
If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year. [...] And when somebody makes it very easy for you to do it by saying you don't really have to put up my money, you can lie about your income a little, or we'll give you 100 percent mortgage, you're going to do it, because everybody that's done it has been proven right. You have what they call social tools, and, you know, you're going to feel like an idiot if you didn't do it, because the house cost more.
What you do in practice is going to determine your level of success. I used to tell my players, 'You have to give 100 percent every day. Whatever you don't give, you can't make up for tomorrow. If you give only 75 percent today, you can't give 125 percent tomorrow to make up for it.'
Increasingly, the real estate developers can't get bank loans for their project financing in China. They're now going into the Hong Kong market to raise money in the bond market at very, very high rates, as high as 15, 20 percent.
Economists often talk about the 80/20 Principle, which is the idea that in any situation roughly 80 percent of the “work” will be done by 20 percent of the participants. In most societies, 20 percent of criminals commit 80 percent of crimes. Twenty percent of motorists cause 80 percent of all accidents. Twenty percent of beer drinkers drink 80 percent of all beer. When it comes to epidemics, though, this disproportionality becomes even more extreme: a tiny percentage of people do the majority of the work.
The Hispanic population grew by 4.7 percent last year, while blacks expanded by 1.5 percent and whites by a paltry 0.3 percent. Hispanics cast 6 percent of the vote in 1990 and 12 percent in 2000. If their numbers expand at the current pace, they will be up to 18 percent in 2010 and 24 percent in 2020. With one-third of Hispanics voting Republican, they are the jump ball in American politics. As this vote goes, so goes the future.
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