A Quote by Warren Buffett
It's the deleveraging that's going on right now that has caused the credit crisis.
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There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis.
Right now, however, we're in the middle of a jobs crisis, a border crisis and a terrorism crisis like never before. All energies of the federal government and the legislative process must now be focused on immigration security. That is the only conversation we should be having at this time, immigration security.
One of the issues with some of these lenders is going to be, where will their provider of credit be when there's a crisis? That's why some of these smarter services, to support their operations, are courting more permanent capital. They want a source of longer-term funding that can survive a crisis.
I do think that the Republican Party is in a crisis right now, a crisis of confidence about who we are.
We need to make clear that the economic crisis has to be matched by a crisis of ideas. That's the problem, right? The economic crisis is not matched by a crisis of ideas. That's where the war is going to be fought.
Given all the money printing that is going on globally - and not just in the US - and given that the total credit as a percent of the advanced economies is now 30% higher than in 2007 before the crisis hit, I think that gold is a good insurance.
Perhaps you are thinking: 'But a tank costs several million dollars, not including floor mats. I don't have that kind of money.' Don't be silly. You're a consumer, right? You have credit cards, right? Perhaps you are thinking: 'Yes, but how am I going to pay the credit-card company?' Don't be silly. You have a tank, right?
The dramatically different manner in which we, as a nation, responded to the crisis presented by drunk driving and the crisis caused by the emergence of crack cocaine speaks volumes about who we value, and who we view as disposable.
There was a clarity to the Nineties. It was pre-9/11, before that anxiety kicked in that exists right now about the financial crisis or terrorism. We were all just going to move forward into the millennium and everything was always going to get better. Then, whoops, that didn't happen.
I live for the moment. I'm basically a Buddhist-type person. I'm just here right now, and I don't think about what's going to happen a hundred years from now. I try to concentrate on what's going on right now. But I'm really trying to run this company like it is going to be here a hundred years from now. That's what's important.
There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.
Debt, we've learned, is the match that lights the fire of every crisis. Every crisis has its own set of villains - pick your favorite: bankers, regulators, central bankers, politicians, overzealous consumers, credit rating agencies - but all require one similar ingredient to create a true crisis: too much leverage.
It's a tale of redemption. It's a tale of a girl who is going on a journey, who makes mistakes as most young people do... the credit card companies love sending you credit cards so you exceed your limit and they can charge you interest. And this is a girl who overcomes her problems and figures a way out of her financial crisis, and hopefully the world will do the same thing.
Debt, weve learned, is the match that lights the fire of every crisis. Every crisis has its own set of villains - pick your favorite: bankers, regulators, central bankers, politicians, overzealous consumers, credit rating agencies - but all require one similar ingredient to create a true crisis: too much leverage.
Your life is right now! It's not later! It's not in that time of retirement. It's not when the lover gets here. It's not when you've moved into the new house. It's not when you get the better job. Your life is right now. It will always be right now. You might as well decide to start enjoying your life right now, because it's not ever going to get better than right now-until it gets better right now!
We all have people who are literally one life shock away from going into a crisis. For many of us, we have a buffer in one way or another. We have a savings account, or we have credit that we can go to. The underserved don't have that luxury.
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