A Quote by David Graeber
If you look at history, there seems to be a regular pattern: the country with the most powerful military also happens to be the one with the world trade currency. That gives them an enormous economic advantage, which causes goods to flow into their country.
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The message from history is so blatantly obvious - that free trade causes mutual prosperity while protectionism causes poverty - that it seems incredible that anybody ever thinks otherwise. There is not a single example of a country opening its borders to trade and ending up poorer.
The image of a country is not just about economic and military strength. The soft face of a country also makes a difference. Sports are one such soft power which can capture the world's attention to India.
The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years. China went into the World Trade Organization and agreed to play by certain rules. Instead, they are illegally subsidizing their exports, manipulating their currency, stealing all of our intellectual property, using sweatshops, using pollution havens. What happens is, our businesses and workers are playing that game with two hands tied behind their back.
Every country that's ever been the most powerful country in the world ceases to be the most powerful country in the world at some point.
I want to remind you of one thing, which is, when I look around the world and look at the long-term economic fundamentals we have in this country, I think they compare favorably with what I see in any major developed country in the world.
The most powerful military country in the world, America - which makes all the guns, all the machinery, all the bullets - taught us how to shoot the guns.
There are three important principles to Graham's approach. [The first is to look at stocks as fractional shares of a business, which] gives you an entirely different view than most people who are in the market. [The second principle is the margin-of-safety concept, which] gives you the competitive advantage. [The third is having a true investor's attitude toward the stock market, which] if you have that attitude, you start out ahead of 99 percent of all the people who are operating in the stock market - it's an enormous advantage.
Our country is in serious trouble. We don't win anymore.We don't beat China in trade. We don't beat Japan, with their millions and millions of cars coming into this country, in trade. We can't beat Mexico, at the border or in trade.We can't do anything right. Our military has to be strengthened. Our vets have to be taken care of. We have to end Obamacare, and we have to make our country great again, and I will do that.
In a modern digitalized world, it is possible to paralyze a country without attacking its defense forces: The country can be ruined by simply bringing its SCADA systems to a halt. To impoverish a country, one can erase its banking records. The most sophisticated military technology can be rendered irrelevant. In cyberspace, no country is an island.
You want to be a country that creates food stamps? In which case, frankly, Obama is an enormous success the most successful food stamp president in American history. Or do you want to be a country that creates jobs?
If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.
It is here we come to the heart of the matter. The economic principle of comparative advantage', 'a country may, in return for manufactured commodities, import corn even if it can be grown with less labour than in the country from which it is imported
I hold all idea of regulating the currency to be an absurdity; the very terms of regulating the currency and managing the currency I look upon to be an absurdity; the currency should regulate itself; it must be regulated by the trade and commerce of the world; I would neither allow the Bank of England nor any private banks to have what is called the management of the currency.
You can either invade a country or leave them alone and trade with them. When goods cross borders, armies don't.
The inflow of capital from the developed countries is the prerequisite for the establishment of economic dependence. This inflow takes various forms: loans granted on onerous terms; investments that place a given country in the power of the investors; almost total technological subordination of the dependent country to the developed country; control of a country's foreign trade by the big international monopolies; and in extreme cases, the use of force as an economic weapon in support of the other forms of exploitation.
I mean you look back at American history and American culture, it's pretty striking. I mean this has been the safest country in the world forever, and the most frightened country in the world.
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