A Quote by Warren Buffett
[The U.S. Treasury] can borrow basically unlimited amounts. They can stay there for years and years. These assets will be worth more money over time. So when Merrill Lynch sells a bunch of mortgage-related assets at 22 cents on the dollar like they did a month or so ago, the buyer goes - is going to make money, and he's going to make a lot more money if it happens to be an institution like the U.S. government which has very, very cheap borrowing costs.
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The U.S. Treasury has got borrowing costs like nobody else has. They can borrow basically unlimited amounts. They can stay there for years and years. These assets will be worth more money over time.
We need to throw the resources at this that are necessary. But like I say, we are not spending money. I mean, if we buy these assets intelligently, the United States Treasury will make money. I mean, it's borrowing money. It's just a few percent a year.
When I was 20, 21, 22 years old, I was making really good money for a 22-year-old, but it wasn't a huge pot. And of course I made a lot of mistakes. I'm glad I got to make those mistakes with a smaller pool of money and learn from it as opposed to learning the hard way with bigger amounts of money when there would be more consequences.
People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.
The problem is that borrowing money to pay back more borrowed money that will oblige you in the future to borrow even more money doesn't sound kosher. Because it isn't.
To walk in money through the night crowd, protected by money, lulled by money, dulled by money, the crowd itself a money, the breath money, no least single object anywhere that is not money. Money, money everywhere and still not enough! And then no money, or a little money, or less money, or more money but money always money. and if you have money, or you don't have money, it is the money that counts, and money makes money, but what makes money make money?
In theory, when you're working with a record label, you're just borrowing their money. And that's basically how the record industry works, right? It's like, you borrow $100,000 from a record label, so you don't make any money until you make back that money for them. In theory, they have you held hostage, so you've got to do every little stupid thing that they want you to do.
Stocks are at an all-time high today. I don't have any money in the stock market. I don't have the stomach for the ups and downs. So about 20 years ago I put all of my money and liquid assets into videotape rewind machines.
If you want to retire young and retire rich, it is very important that your money be like a bird dog, going out every day and bringing home more and more assets.
It comes back to what Chief Jay Strongbow told us years ago, 'In this business you can make friends or you can make money'. And I remember lookin at Kev and X-Pac and going, I already got some friends, I'd like the money.
Often, the more money you make the more money you spend; that's why more money doesn't make you rich - assets make you rich.
I'd like my grandkids to be able to watch PBS. But I'm not willing to borrow money from China, and make my kids have to pay the interest on that, and my grandkids, over generations, as opposed to saying to PBS, 'Look, you're going to have to raise more money from charitable contributions or from advertising.'
We're now moving into a stage where the green economy isn't just going to be the place for people to spend money. It's going to become a place where a lot more people can earn money, and also save more money. These kind of solutions require collective action and government action. So as an advocate for government change, even somebody like me gets to have a role.
There isn't a single government agency that can't function. There's more money in this federal government, there's more money allocated than these people can possibly spend. They have to concoct asinine ways to spend it, like advertising for new food stamp users. I've gotten to the point, I'm just so righteously indignant and offended at the very idea that our government could ever run out of money when we've got a printing press, for crying out loud. Printed three and a half trillion dollars over seven years and flooded Wall Street with it.
I want the pleasures of the real exploitation movie, and exploitation has changed so much in 40 years. Plenty of people grow up with this fantasy of, "We're going to do it like Roger Corman did it," as that sounds so fun. If you make something small, goofy and exploitative, it's nowhere near the guaranteed moneymaker it might have been 40 years ago. If you look at the way the world works now and money is made, it doesn't seem that fun. Maybe that's just a mental block I have and I need to get over that and find that corner where you can make money and still have a good movie.
Once money goes into a charity, it is tax exempt, so that's a benefit you get. And in return, you have to use the assets of the charity to serve the public good. So if Trump is using this money basically to save his businesses, the money isn't helping people. That's a violation of the letter and the spirit of law.
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