A Quote by Jeffrey Sachs
We're going to have to forgive a great deal of the Soviet era debt. There's no question about that. Let's face up to that. We're going to have to put in money if Russia is really going to consolidate a democracy.
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We had in the West a very romantic vision of Russia back in 1991, when the Soviet Union died and whatever is Russia began to emerge. And we began to think of it as a democracy. We're going to bring it into the West. All is going to be wonderful. That was never in the cards.
One journalist said that everybody in Russia is miserable. Russia is a terrible place. And I'm going to end up miserable and I'm going to be a drunk and I'm never going to do anything. I don't drink. I've never been drunk in my life. And they talk about Russia like it's the worst place on earth. Russia's great.
After the Soviet Union collapsed, people thought the last Soviet generation was going to be the great hope for democracy. When that failed, their hopes shifted to the first post-Soviet generation, and then the second one.
Does anybody really believe that Iraq is going to be a wonderful democracy where people are going to run down to the voting box and gently put in their ballot and the winner is happily going to step up to lead the county? C'mon. Two minutes after we leave, there's going to be a revolution, and the meanest, toughest, smartest, most vicious guy will take over. And he'll have weapons of mass destruction, which Saddam didn't have.
Football has to work really hard to put a smile on people's face and not to be so focused on the question of money. Everything is in danger of losing its soul if you're always going to sell out to the highest bidder.
If you really think that houses prices are going to go up next year and the year after, you feel if I don't buy it this year, I'm going to have to buy it next year. [...] And when somebody makes it very easy for you to do it by saying you don't really have to put up my money, you can lie about your income a little, or we'll give you 100 percent mortgage, you're going to do it, because everybody that's done it has been proven right. You have what they call social tools, and, you know, you're going to feel like an idiot if you didn't do it, because the house cost more.
Vladimir Putin is a smart guy. I don't like him, smart guy. He is going to advance the cause of Russia until he hits a brick wall. He's hit a brick wall in a few areas. I think we need to make it clear that your growth of the former Soviet Union is over. You can be a great power that's respected. Fine. But this is not going to be the old Soviet Union.
If anything good is going to emerge out of this, it's going to be the result of an acceptable modus vivendi between Ukraine and Russia. The two of them will have to get together at some point. It is going to be a result that many people in the West will not like, because Russia, as the bigger power, is going to get the better of the deal. So, a lot of people will say, that's appeasement. That's this - that - it's reality.
I think that people are going to move. They always have and that's going to continue. The question is, how are we going to deal with it?
Football has to work really hard to put a smile on peoples face and not to be so focused on the question of money. Everything is in danger of losing its soul if youre always going to sell out to the highest bidder.
We think about democracy, and that's the word that Americans love to use, 'democracy,' and that's how we characterize our system. But if democracy just means going to vote, it's pretty meaningless. Russia has democracy in that sense. Most authoritarian regimes have democracy in that sense.
People tend to think that paying a debt is like going out and buying a car, buying more food or buying more clothes. But it really isn't. When you pay a debt to the bank, the banks use this money to lend out to somebody else or to yourself. The interest charges to carry this debt go up and up as debt grows.
I'm not just going to get a deal; I'm going to get the deal. And in my deal I got by signing with No I.D. to Def Jam, I got full creative control, the money was great, the contract was good, and I got to create the album that I wanted.
Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees.
I came to understand and observe that we're all going to face obstacles. We're going to have challenges. We're going to fail. We're going to have success. But all of it is going to ultimately be character-building. And it's not going to deter us from wanting to achieve, to strive, and be successful.
We need a wealth tax that on a one-time basis is going to take back at least some small fraction of the great windfall that the upper 1 percent, or 5 percent and pay down the government debt, pay back the federal debt because we can't put this on the next generation or they're going to be buried paying taxes.
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