A Quote by John Maynard Keynes
The destruction of the inducement to invest by an excessive liquidity-preference was the outstanding evil, the prime impediment to the growth of wealth, in the ancient and medieval worlds.
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The psychology of the saver and the psychology of the investor is very closely connected with Keynes' distinction between risk and uncertainty. When the future is uncertain, he thought that a lot of saving would be directed towards securing, securing more, getting more security in the present, rather than building wealth in the future, which was the classical view, you save in order to invest, in order to consume more later on. What he had called the propensity to hoard or liquidity preference would normally be stronger than the inducement to invest.
3 is prime, 5 is prime, 7 is prime. According to some ancient manuscripts 9 is not a prime number, but beyond the distant horizon of the oceans, in the New World that I am going to discover, there are surely lots of them.
There should exist among the citizens neither extreme poverty nor again excessive wealth, for both are productive of great evil.
Regulatory changes have forced banks to closely examine their liquidity planning and to internalize the costs of liquidity provision. The costs of committed liquidity facilities will be passed on to clearing members. These costs are perhaps highest in clearing Treasury securities, where liquidity needs can be especially large.
Wherever there is excessive wealth, there is also in the train of it excessive poverty.
The form of law which I propose would be as follows: In a state which is desirous of being saved from the greatest of all plagues-not faction, but rather distraction-there should exist among the citizens neither extreme poverty nor, again, excessive wealth, for both are productive of great evil . . . Now the legislator should determine what is to be the limit of poverty or of wealth.
There are times when the welfare system may appear as an impediment to growth. Yet the drive for growth should always bear in mind the fact that people also need security
If you don't have ample liquidity, and it's not durable, in times of stress, as you're looking for liquidity, you're forced to sell assets at declining prices, which then eats into your capital position, so it becomes this very, very negative cycle. There's no question that liquidity is sacrosanct.
Italy and France could lop off their excessive wealth through a one-time tax on private wealth.
The Cold War philosophy of Mutual Assured Destruction (MAD), which prevented the former Soviet Union and the United States from using the nuclear weapons they had targeted at each other, would not apply to President Mahmoud Ahmadinejad's Iran. For him (Ahmadinejad), Mutual Assured Destruction is not a deterrent, it is an inducement.
My wealth came from growing businesses. I had wealth, but not liquidity. Basically I transferred illiquid shares of AIC for liquid shares of Manulife. Now I'm the biggest individual shareholder of Manulife.
There's such a preoccupation with liquidity and such an unwillingness to invest beyond the horizon of the next quarter and making sure that the CEOs hit their quarterly earnings.
Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank.
One of my favourite things to think about is, if you could be invisible and go back in time, where would you go? I've always said ancient Egypt. I would love to see them building the pyramids, and I've always had a real fascination with medieval time and monarchy in medieval times.
When I hear complaints about less liquidity, remember there is such a thing as too much liquidity.
Revolution requires extensive and widespread destruction, a fecund and renovating destruction, since in this way and only this way are new worlds born
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