A Quote by Joe Klein
This dilettante notion that the global economy is evil because big corporate leaders make too much money... they do make too much money, but the only way we've figured out how to generate wealth in this world is through the market economy.
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When you are starting out in your 20s, it is natural to think about all that you will have and do once you start making money, and making more money. That gives money way too much power over your life. It's not about how much you make, but the life that you make with the money you have.
When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living and depend on earning money for what they can spend. The 1% makes its money basically by lending out their money to the 99%, on charging interest and speculating. So the stock market's doubled, the bond market's gone way up, and the 1% are earning more money than ever before, but the 99% are not. They're having to pay the 1%.
Basically, I think that most people either make too much money or not enough money. The jobs that are essential and important pay too little, and those that are essentially managerial pay far too much.
We have to get the tax revenues up. That means we have to get back to a healthy American economy, grow the economy so that you make more money. I make more money, ordinary Americans make more money, and so does the government. That helps lessen the deficit.
Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they'll over stimulate the economy, by printing too much money. The result will be a rising roller coaster of inflation, with each high and low being higher than the preceding one.
Republicans spent too much money, borrowed too much money, earmarked too much. In this race, I'm the only guy who hasn't spent time in Washington.
I think that we've had an economy that's been out of balance for too long. So the general principle of raising taxes on higher income Americans, like myself, and providing relief to those who haven't benefited as much from this new global economy, I think is a sound one.
America's critics can be heard everywhere. It is too much in love with money - worshipping the god of the marketplace, the golden calf. It has too much money, seven of the top 10 banks, eight of the top 10 companies etc. It is too stingy, giving away less of its wealth than other countries. It is vulgar, a rich barbarian.
There are lots of ways to make money in venture capital, and there are even more ways to be mediocre. The industry has too much money and too many smart people chasing too few great entrepreneurs.
Yes, I think India's economy always has been a mixed economy, and by Western standards we are much more of a market economy than a public sector-driven economy.
Money is not the root of all evil...ignorance is the root of all evil. People do cruel and foolish things for money because they feel oppressed by a sense of lack. If people knew their power to generate wealth, they would never fight or hurt each other over money.
The reality is the most important thing that can be done are these permanent changes like to the tax code, reduction of government spending. These are the things that pop up in economy and move it in the right direction, start to make it an economy that is moving because of the money in the private economy. When you think about it, when the Fed is lowering an interest rate, what it's doing is it's creating more liquidity. It's putting more money into the economy. The same thing happens when you reduce the tax except if happens from physical policy.
But there are too many people that make so much money at the cost of lives of other humans and for no reason but to make the money.
Humans, being the only race to pay for living on this planet, have over the centuries become dependent on money. But what if money becomes a curse? Just like too little money can become a problem, so can too much money.
And you can't have a prosperous economy when the government is way overspending, raising tax rates, printing too much money, over regulating and restricting free trade. It just can't be done.
Oil is a tangible commodity, so there is a global market. The fact that we may need less may affect the global price because we're big consumers: we probably take about a quarter of global demand. But if suddenly, let's just use a crazy example, fighting in the Middle East led to the closure of the Strait of Hormuz and no oil could get out through the Strait of Hormuz, well that would affect China, India, Europe, it will affect the whole global economy. It will affect us, too, then.
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