Asset Quotes - page 4
The role of expectations is not limited to monetary policy but is crucial in many areas of economics, as Bob showed in his later research on investment, unemployment, taxation, public debt management, and asset pricing. In all of these situations, the appropriate evaluation of policy takes account of the way that expectations would be rationally formed.
Robert Barro
More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day.
Millions of people who regularly contribute to churches, schools, and other organizations thereby relinquish the use of funds that would otherwise benefit their own families. The dollars these people drop into a collection plate or give to United Way mean forgone movies, dinners out, or other personal pleasures. In contrast, my family and I will give up nothing we need or want by fulfilling this 99% pledge.
Moreover, this pledge does not leave me contributing the most precious asset, which is time. Many people, including - I'm proud to say - my three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money.
Warren Buffett
The term money has two very different meanings in popular discourse. We often speak of someone "making money," when we really mean that he or she is receiving an income. We do not mean that he or she has a printing press in the basement churning out greenbacked pieces of paper. In this use, money is a synonym for income or receipts; it refers to a flow, to income or receipts per week or per year. We also speak of someone's having money in his or her pocket or in a safe-deposit box or on deposit at a bank. In that use, money refers to an asset, a component of one's total wealth. Put differently, the first use refers to an item on a profit-and-loss statement, the second to an item on a balance sheet.
Milton Friedman
I started out with $600, a second hand Volkswagen, and a wife. One was an asset and one was a liability. I will let you figure out which was which. I liquidated both, and still had the $600. I worked long hours, and spent weekends reading about markets. I simply love it. You have to love what you do, whether it be gardening, hairdressing, etc. When you love it, then the money follows. Even if it doesn't, you will still be happy. Being happy and poor is better than being unhappy and poor.
Jim Rogers
The whole purpose of college is to learn how to deal with difficult situations, not to run away from them. A micro-aggression is exactly that : micro. But in a macro sense, one of the most dangerous places on a college campus is the so-called 'safe space', because it creates a false impression that we can isolate ourselves from those who hold different views. We can't, and we shouldn't try-not in politics or in the workplace. Graduates, in the global economy, and in a democratic society, an open mind is the most valuable asset you can possess.
Michael Bloomberg
Our open, diverse society is an asset in the struggle against terrorism, not a liability. It makes us stronger and more resistant to radicalization. And this raises a larger point about the future of our country. America is strongest when we all believe that we have a stake in our country and our future. This vision has sustained us from the beginning. The belief that, yes, we are all created equal and the journey we have made to turn that into reality over the course of our history, that we are not a land of winners and losers, that we should all have the opportunity to live up to our God-given potential. And we have a responsibility to help others do so as well.
Hillary Clinton
The paper develops a simple macroeconomic framework for the study of exchange rate movements. The purpose is to develop a theory that is suggestive of the observed large fluctuations in exchange rates while at the same time establishing that such exchange rate movements are consistent with rational expectations formation. In developing a formal model we draw on the role of asset markets, capital mobility, and expectations that have been emphasized in recent literature.
Rudiger Dornbusch
In figure 3 we show the money and domestic asset market equilibrium schedules for given stocks of each of the assets. Along MM the domestic money market is in equilibrium. Higher interest rates reduce money demand so that equilibrium requires a depreciation and thus a rise in the domestic currency value of foreign assets and - hence wealth. The exchange rate thus plays a balancing role by affecting the valuation of assets.
Rudiger Dornbusch
The individual has become more conscious than ever of his dependence upon society. But he does not experience this dependence as a positive asset, as an organic tie, as a protective force, but rather as a threat to his natural rights, or even to his economic existence. Moreover, his position in society is such that the egotistical drives of his make-up are constantly being accentuated, while his social drives, which are by nature weaker, progressively deteriorate.
Albert Einstein
In conclusion, let me emphasize one point: that we are determined, as a nation in 1961 that freedom shall survive and succeed--and whatever the peril and set-backs, we have some very large advantages. The first is the simple fact that we are on the side of liberty--and since the beginning of history, and particularly since the end of the Second World War, liberty has been winning out all over the globe. A second great asset is that we are not alone. We have friends and allies all over the world who share our devotion to freedom. [...] A third asset is our desire for peace. It is sincere, and I believe the world knows it. [...] Yet it is important to know that our patience at the bargaining table is nearly inexhaustible, though our credulity is limited-that our hopes for peace are unfailing, while our determination to protect our security is resolute.
John F. Kennedy
Such cultural homosexuality is an alienation more or less forced upon certain groups of Auden's society by the form of their education and the nature of their social and financial conditions. Where the members of a class and a sex are taught, in a prolonged narcissistic isolation, to hero-worship themselves-class and sex; where-to a different class-unemployment is normal, where one's pay is inadequate or impossible for more than one; where children are expensive liabilities instead of assets; where women are business competitors; where most social relationships have become as abstract, individualistic, and mobile as the relations of the labor market, homosexuality is a welcome asset to the state, one of the cheapest and least dangerous forms of revolution.
Randall Jarrell
