A Quote by Li Lu
The financial crisis of 2008-09 was in large part the result of the so-called 'success' of people who did not understand their fiduciary duty. This kind of 'success' is extremely harmful to all of society.
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I've been fortunate enough to experience financial success on a large scale through both my music career and my many business ventures. With this type of financial success comes financial responsibility.
The financial crisis of 2008 created a seismic shift in the dynamics of trust in financial services. FinTech would have happened without the global financial crisis - but it would have taken much longer.
In the scriptures, we are told you can't really understand happiness unless you understand sadness. You don't know pleasure if you don't know pain. It's part of life. So can you learn something from somebody who has gone from success to success to success? I don't think so.
In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables.
Success is not the result of making money; earning money is the result of success — and success is in direct proportion to our service.
Every movie that I've had to really knock down the door for has been an enormous success for me. Not just like a financial success but a real personal success.
The heart of the 2008 financial crisis was a coterie of reckless financial executives, working for too-big-to-fail financial companies, who were handsomely compensated for taking risks that almost ruined the economy when they failed.
Let's stop for a second and remember where we were eight years ago [in 2008]. We had the worst financial crisis, the Great Recession, the worst since the 1930s. That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm.
Now, success is not the result of making money; making money is the result of success - and success is in direct proportion to our service. Most people have this law backwards. They believe that you're successful if you earn a lot of money. The truth is that you can only earn money after you're successful.
The revival of the U.S. financial system after the crash of 2008 is arguably the Obama administration's biggest domestic policy success.
The goals you set for yourself and the strategies you choose become your blueprint or plan. Strategies are like recipes: choose the right ingredients, mix them in the correct proportions, and you will always produce the same predictable results: in this case financial success. The success strategies for managing money and building wealth are called Money Strategies. By learning to use money strategies as a part of your day-to-day life, financial frustration and failure will become a thing of the past.
Procrastination is the fear of success. People procrastinate because they are afraid of the success that they know will result if they move ahead now. Because success is heavy, carries a responsibility with it, it is much easier to procrastinate and live on the "someday I'll" philosophy.
I think our culture views success as visibility, being seen as being successful. Whereas I've learned that success is rooted in helping and connecting to other people, and knowing where you can contribute. I've kind of spent my thirties doing that, because in my twenties I was seeking any kind of success.
The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.
It is no exaggeration to say that since the 1980s, much of the global financial sector has become criminalised, creating an industry culture that tolerates or even encourages systematic fraud. The behaviour that caused the mortgage bubble and financial crisis of 2008 was a natural outcome and continuation of this pattern, rather than some kind of economic accident.
If we are really serious about preventing another crisis like the 2008 meltdown, we should simply ban complex financial instruments unless they can be unambiguously shown to benefit society in the long run.
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