A Quote by Michael Hudson
The concept of productivity in America is income divided by labor. So if you're Goldman Sachs and you pay yourself $20 million a year in salary and bonuses, you're considered to have added $20 million to GDP, and that's enormously productive. So we're talking in a tautology. We're talking with circular reasoning here.
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Today's national income statistics make it appear that Goldman Sachs is productive. As if Donald Trump plays a productive role. The aim is to make it appear that people who take money from the rest of the economy without working are productive, despite not really providing any service that actually contributes to GDP and economic growth.
Because I wrote a book about Goldman Sachs. And I know that, from talking to people at Goldman Sachs, that Trump is the poster child for the kind of client they don't want to do business with, mainly because he would borrow all this money from Wall Street to build his casinos, and then didn't pay it back.
I'm big into stocks. I've invested in a lot of stocks. One day I was talking to my accountant, and he was like, "Yo, what if I could turn a million dollars into $20 million?"
If a woman is making $85,000 a year, putting aside 20% of her income, putting it in a bank, earning very little...Over the course of her life vs. investing, this can cost her $1.5 million, $2 million, $2.5 million. Life changing amounts.
We have so many films that we can fit into the slate a year, and we spend $100 million on those films in order to make $400 million dollars. We don't spend $20 million in hopes of eking out $40 million.
We have made a commitment to feed 20-million people over the next two years. We are somewhere around 10 million. But I can promise you that we are not going to stop at 20 million. Because hunger, there is almost no cure for it. You can take care of the problem today, but it is a recurring problem.
You will learn more about Donald Trump by going down to the federal elections, where I filed a 104-page essentially financial statement of sorts, the forms that they have. It shows income - in fact, the income - I just looked today - the income is filed at $694 million for this past year, $694 million. If you would have told me I was going to make that 15 or 20 years ago, I would have been very surprised.
As the stars make more and more money - one person gets $12 million, $14 million, $15 million, $20 million - everyone else is expected to work for peanuts. And that includes some extraordinary actors who are, today, working for peanuts because the production companies have decided they don't need to pay these people, and they don't.
MSNBC host Lawrence O'Donnell is saying Donald Trump lied when he said he made $20 million a year off his 'Apprentice' series on NBC. NBC also denied Trump's claim, saying, 'We don't have $20 million. We're NBC.'
I think the difference between America and Australia is very simple. It's 20 million people versus 350 million.
Every few seconds it changes - up an eighth, down an eighth - it's like playing a slot machine. I lose $20 million, I gain $20 million.
Yes, you can have art films about the triumph of the human spirit and all of that, but you'll have it done with a big-budget icon with a $20 million salary. You'll have Julia Roberts, you'll have Robert Redford, you'll have Russell Crowe doing those films, because if they're going to cost $90 million, they're going to make that movie for a public that's very large and mainstream. They're not going to make it for three or four million black people.
Short of baseball and my family, it was gaming. And gaming is a $20-million to $200-million multi-year effort. It's an insane, stupid and utterly irresponsible act. But I did it.
Finance industry executives earn an annual income, including benefits, grants and bonuses, that can reach over eight million shekels a year.
If you were my agent and I was making $10 million a movie and made four movies a year, that means you have a salary of $4 million.
People don't own teams to lose money. If you ask any owner whether they would rather make $20 million and come in last place or lose $20 million and win a World Series, there's only one guy who honestly would take that championship: George Steinbrenner. Nobody else.
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