Borrowed Future Quotes

She could no longer borrow from the future to ease her present grief.

Every time you borrow money, you're robbing your future self.

Marginalia Sometimes the notes are ferocious, skirmishes against the author raging along the borders of every page in tiny black script. If I could just get my hands on you, Kierkegaard, or Conor Cruise O'Brien, they seem to say, I would bolt the door and beat some logic into your head. Other comments are more offhand, dismissive - Nonsense." "Please!" "HA!!" - that kind of thing. I remember once looking up from my reading, my thumb as a bookmark, trying to imagine what the person must look like who wrote "Don't be a ninny" alongside a paragraph in The Life of Emily Dickinson. Students are more modest needing to leave only their splayed footprints along the shore of the page. One scrawls "Metaphor" next to a stanza of Eliot's. Another notes the presence of "Irony" fifty times outside the paragraphs of A Modest Proposal. Or they are fans who cheer from the empty bleachers, Hands cupped around their mouths. Absolutely," they shout to Duns Scotus and James Baldwin. Yes." "Bull's-eye." "My man!" Check marks, asterisks, and exclamation points rain down along the sidelines. And if you have managed to graduate from college without ever having written "Man vs. Nature" in a margin, perhaps now is the time to take one step forward. We have all seized the white perimeter as our own and reached for a pen if only to show we did not just laze in an armchair turning pages; we pressed a thought into the wayside, planted an impression along the verge. Even Irish monks in their cold scriptoria jotted along the borders of the Gospels brief asides about the pains of copying, a bird singing near their window, or the sunlight that illuminated their page- anonymous men catching a ride into the future on a vessel more lasting than themselves. And you have not read Joshua Reynolds, they say, until you have read him enwreathed with Blake's furious scribbling. Yet the one I think of most often, the one that dangles from me like a locket, was written in the copy of Catcher in the Rye I borrowed from the local library one slow, hot summer. I was just beginning high school then, reading books on a davenport in my parents' living room, and I cannot tell you how vastly my loneliness was deepened, how poignant and amplified the world before me seemed, when I found on one page A few greasy looking smears and next to them, written in soft pencil- by a beautiful girl, I could tell, whom I would never meet- Pardon the egg salad stains, but I'm in love.

Don’t steal anything from the past or borrow anything from the future. Pay your dues today. That’s living life.

Tonight was a borrowed grace, innocent of the future. They sat in miserable and desperate silence, wishing and regretting while the bloody moon traced its ponderous path across the sky.

Not to borrow the strength of another, nor to rely on one’s own strength; to cut off past and future thoughts, and not to live within the everyday mind…then the Great Way is right before one’s eyes”.

The duty of planning tomorrow's work is today's duty; though its material is borrowed from the future, the duty, like all duties, is in the Present.

Nothing could be gained by worrying and dreading the future, borrowing tomorrow's pain for today.

I myself grew up to be not only a Hero, but also a Writer. When I was an adult, I rewrote A Hero's Guide to Deadly Dragons, and I included not only some descriptions of the various deadly dragon species, and a useful Dragonese Dictionary, but also this story of how the book came to be written in the first place. This is the book that you are holding in your hands right now. Perhaps you even borrowed it from a Library? If so, thank Thor that the sinister figure of the Hairy Scary Librarian is not lurking around a corner, hiding in the shadows, Heart-Slicers at the ready, or that the punishment for your curiosity is not the whirring whine of a Driller Dragon's drill. You, dear reader, I am sure cannot imagine what it might to be like to live in a world in which books are banned. For surely such things will never happen in the Future? Thank Thor that you live in a time and a place where people have the right to live and think and write and read their books in peace, and there are no need for Heroes anymore ... And spare a thought for those who have not been so lucky.

Imagination cannot easily transcend the boundaries of the present, and one reason for this is that it must borrow machinery that is owned by perception. The fact that these two processes must run on the same platform means that we are sometimes confused about which one is running. We assume that what we feel as we imagine the future is what we’ll feel when we get there, but in fact, what we feel as we imagine the future is often a response to what’s happening in the present.

What you think of as they past is a memory trace, stored in the mind, of a former Now. When you remember the past, you reactivate a memory trace -- and you do so now. The future is an imagined Now, a projection of the mind. When the future comes, it comes as the Now. When you think about the future, you do it now. Past and future obviously have no reality of their own. Just as the moon has no light of its own, but can only reflect the light of the sun, so are past and future only pale reflections of the light, power, and reality of the eternal present. Their reality is "borrowed" from the Now.

Credit' comes from the Latin 'credere', 'to believe', for credit is the belief that the money you're borrowing will someday be returned, a belief that needs the future to function in.

The bricoleur, says Levi-Strauss, is someone who uses 'the means at hand,' that is, the instruments he finds at his disposition around him, those which are already there, which had not been especially conceived with an eye to the operation for which they are to be used and to which one tries by trial and error to adapt them, not hesitating to change them whenever it appears necessary, or to try several of them at once, even if their form and their origin are heterogenous—and so forth. There is therefore a critique of language in the form of bricolage, and it has even been said that bricolage is critical language itself…If one calls bricolage the necessity of borrowing one's concepts from the text of a heritage which is more or less coherent or ruined, it must be said that every discourse is bricoleur.

The heart is a repository of emotions--real, imagined, and invented, owned and borrowed, past, present, future--and there in your chest, operating at an average of 80 beats per minute at rest, is a heart that has stories to tell.

Civilizations, from the perspective of history, are shown to be the outcome of mixtures and borrowings, often of quite arbitrary things, but always on a prodigious scale.

We have borrowed the enviroment from the future, If we abuse it now, what is there left to borrow tomorrow?

She could no longer borrow from the future to help her through the present grief. Tomorrow would bring its own trial with it; so would the next day, and so would the next...

You can’t borrow from the future, to make up for the past

Next, Cohn repeated what everyone was saying: Interest rates were going to go up over the foreseeable future. I agree, Trump said. “We should just go borrow a lot of money right now, hold it, and then sell it and make money.” Cohn was astounded at Trump’s lack of basic understanding. He tried to explain. If you as the federal government borrow money through issuing bonds, you are increasing the U.S. deficit. What do you mean? Trump asked. Just run the presses—print money.

It was the general opinion of ancient nations, that the divinity alone was adequate to the important office of giving laws to men... and modern nations, in the consecrations of kings, and in several superstitious chimeras of divine rights in princes and nobles, are nearly unanimous in preserving remnants of it... Is the jealousy of power, and the envy of superiority, so strong in all men, that no considerations of public or private utility are sufficient to engage their submission to rules for their own happiness? Or is the disposition to imposture so prevalent in men of experience, that their private views of ambition and avarice can be accomplished only by artifice? — … There is nothing in which mankind have been more unanimous; yet nothing can be inferred from it more than this, that the multitude have always been credulous, and the few artful. The United States of America have exhibited, perhaps, the first example of governments erected on the simple principles of nature: and if men are now sufficiently enlightened to disabuse themselves of artifice, imposture, hypocrisy, and superstition, they will consider this event as an era in their history. Although the detail of the formation of the American governments is at present little known or regarded either in Europe or America, it may hereafter become an object of curiosity. It will never be pretended that any persons employed in that service had any interviews with the gods, or were in any degree under the inspiration of heaven, any more than those at work upon ships or houses, or labouring in merchandize or agriculture: it will for ever be acknowledged that these governments were contrived merely by the use of reason and the senses. As Copley painted Chatham, West, Wolf, and Trumbull, Warren and Montgomery; as Dwight, Barlow, Trumbull, and Humphries composed their verse, and Belknap and Ramzay history; as Godfrey invented his quadrant, and Rittenhouse his planetarium; as Boylston practised inoculation, and Franklin electricity; as Paine exposed the mistakes of Raynal, and Jefferson those of Buffon, so unphilosophically borrowed from the Recherches Philosophiques sur les Américains those despicable dreams of de Pauw — neither the people, nor their conventions, committees, or sub-committees, considered legislation in any other light than ordinary arts and sciences, only as of more importance. Called without expectation, and compelled without previous inclination, though undoubtedly at the best period of time both for England and America, to erect suddenly new systems of laws for their future government, they adopted the method of a wise architect, in erecting a new palace for the residence of his sovereign. They determined to consult Vitruvius, Palladio, and all other writers of reputation in the art; to examine the most celebrated buildings, whether they remain entire or in ruins; compare these with the principles of writers; and enquire how far both the theories and models were founded in nature, or created by fancy: and, when this should be done, as far as their circumstances would allow, to adopt the advantages, and reject the inconveniences, of all. Unembarrassed by attachments to noble families, hereditary lines and successions, or any considerations of royal blood, even the pious mystery of holy oil had no more influence than that other of holy water: the people universally were too enlightened to be imposed on by artifice; and their leaders, or more properly followers, were men of too much honour to attempt it. Thirteen governments thus founded on the natural authority of the people alone, without a pretence of miracle or mystery, which are destined to spread over the northern part of that whole quarter of the globe, are a great point gained in favour of the rights of mankind. [Preface to 'A Defence of the Constitutions of the United States of America', 1787]

One heartbeat,” he replied, “one heartbeat. That’s it. That’s all. You’re only one heartbeat away from eternity. Everything you have—your life, your breath, this moment, it’s all borrowed, it’s all a gift. And at any moment it all ends with a heartbeat…just one heartbeat, and there’s no more time. One heartbeat and the chance to be saved is gone. One heartbeat and there’s no more choosing—it’s all sealed for eternal life or eternal death.

I’ll just borrow confidence from a future version of myself.

I was in the fifth grade the first time I thought about turning thirty. My best friend Darcy and I came across a perpetual calendar in the back of the phone book, where you could look up any date in the future, and by using this little grid, determine what the day of the week would be. So we located our birthdays in the following year, mine in May and hers in September. I got Wednesday, a school night. She got a Friday. A small victory, but typical. Darcy was always the lucky one. Her skin tanned more quickly, her hair feathered more easily, and she didn't need braces. Her moonwalk was superior, as were her cart-wheels and her front handsprings (I couldn't handspring at all). She had a better sticker collection. More Michael Jackson pins. Forenze sweaters in turquoise, red, and peach (my mother allowed me none- said they were too trendy and expensive). And a pair of fifty-dollar Guess jeans with zippers at the ankles (ditto). Darcy had double-pierced ears and a sibling- even if it was just a brother, it was better than being an only child as I was. But at least I was a few months older and she would never quite catch up. That's when I decided to check out my thirtieth birthday- in a year so far away that it sounded like science fiction. It fell on a Sunday, which meant that my dashing husband and I would secure a responsible baby-sitter for our two (possibly three) children on that Saturday evening, dine at a fancy French restaurant with cloth napkins, and stay out past midnight, so technically we would be celebrating on my actual birthday. I would have just won a big case- somehow proven that an innocent man didn't do it. And my husband would toast me: "To Rachel, my beautiful wife, the mother of my chidren and the finest lawyer in Indy." I shared my fantasy with Darcy as we discovered that her thirtieth birthday fell on a Monday. Bummer for her. I watched her purse her lips as she processed this information. "You know, Rachel, who cares what day of the week we turn thirty?" she said, shrugging a smooth, olive shoulder. "We'll be old by then. Birthdays don't matter when you get that old." I thought of my parents, who were in their thirties, and their lackluster approach to their own birthdays. My dad had just given my mom a toaster for her birthday because ours broke the week before. The new one toasted four slices at a time instead of just two. It wasn't much of a gift. But my mom had seemed pleased enough with her new appliance; nowhere did I detect the disappointment that I felt when my Christmas stash didn't quite meet expectations. So Darcy was probably right. Fun stuff like birthdays wouldn't matter as much by the time we reached thirty. The next time I really thought about being thirty was our senior year in high school, when Darcy and I started watching ths show Thirty Something together. It wasn't our favorite- we preferred cheerful sit-coms like Who's the Boss? and Growing Pains- but we watched it anyway. My big problem with Thirty Something was the whiny characters and their depressing issues that they seemed to bring upon themselves. I remember thinking that they should grow up, suck it up. Stop pondering the meaning of life and start making grocery lists. That was back when I thought my teenage years were dragging and my twenties would surealy last forever. Then I reached my twenties. And the early twenties did seem to last forever. When I heard acquaintances a few years older lament the end of their youth, I felt smug, not yet in the danger zone myself. I had plenty of time..

I wanted something to tell me my future was bright. I can imagine myself saying at the time that life itself was like a book borrowed from the library―something that did not belong to me and was due to expire. How silly.

It will get easier’ is probably the most offensive thing you can say to someone in the grip of pain. You are borrowing from a future that isn’t promised, a future that depends entirely on their endurance of the pain. You are taking for granted a well of strength within them that they may not possess, fast-forwarding through the ugly bits that you don’t want to watch but they must live through, nonetheless. ‘It will get easier’ is not a helpful thing to say to someone for whom only the present moment can exist, so vivid, so intense that it’s not possible to imagine a moment beyond it. The future doesn’t matter to someone enduring an unimaginable pain, so let’s not entertain that childish fantasy. All that matters is the pain that is consuming you in this moment, that you grit your teeth and try to survive it. You invalidate the pain and the damage it inflicts when you hasten to skip past it to a brighter tomorrow. Sometimes things are just unremittingly shit and the only respectful thing to do is to stand next to the person going through it and scream along with them.

Companies should not gamble with leverage. Companies shouldn't gamble on borrowed money. If a company is going to borrow and leverage other peoples money, it should be going toward something profitable, stable and safe. Executives can't predict the future with any certainty, but they can do their research and due diligence. And they can be methodical and strategic as opposed to reckless.

There would be no truce or negotiation tonight. Tonight was a borrowed grace, innocent of the future.

That tradition is the way our culture gets made. As I explain in the pages that follow, we come from a tradition of "free culture"—not "free" as in "free beer" (to borrow a phrase from the founder of the freesoftware movement[2] ), but "free" as in "free speech," "free markets," "free trade," "free enterprise," "free will," and "free elections." A free culture supports and protects creators and innovators. It does this directly by granting intellectual property rights. But it does so indirectly by limiting the reach of those rights, to guarantee that follow-on creators and innovators remain as free as possible from the control of the past. A free culture is not a culture without property, just as a free market is not a market in which everything is free. The opposite of a free culture is a "permission culture"—a culture in which creators get to create only with the permission of the powerful, or of creators from the past.

But I had heeded the warning, and as is said of juries who have heard inadmissible evidence before it is stricken from the record, suddenly realized that we were on borrowed time, that time is always borrowed, and that the lending agency exacts its premium precisely when we are least prepared to pay and need to borrow more. […] I squirreled away small things so that in the lean days ahead glimmers from the past might bring back the warmth. I began, reluctantly, to steal from the present to pay off debts I knew I’d incur in the future. This, I knew, was as much a crime as closing the shutters on sunny afternoons. But I also knew that in Mafalda’s superstitious world, anticipating the worst was as sure a way of preventing it from happening. When we went on a walk one night and he told me that he’d soon be heading back home, I realized how futile my alleged foresight had been. Bombs never fall on the same spot; this one, for all my premonitions, fell exactly in my hideaway.

I borrowed a copy of Myths of the Norsemen by Roger Lancelyn Green and read and reread it with delight and puzzlement: Asgard, in this telling, was no longer a Kirbyesque Future City but was a Viking hall and collection of buildings out on the frozen wastes; Odin the all-father was no longer gentle, wise, and irascible, but instead he was brilliant, unknowable, and dangerous; Thor was just as strong as the Mighty Thor in the comics, his hammer as powerful, but he was . . . well, honestly, not the brightest of the gods; and Loki was not evil, although he was certainly not a force for good. Loki was . . . complicated.

If everyone likes it, it's probably because it has been doing well. Most people seem to think that outstanding performance to dates presages outstanding future performance. Actually, it's more likely that outstanding future performance to date has borrowed from the future and thus presages subpar performance from her on out.

7 ALL ELECTRIC J. B. STRAUBEL HAS A TWO-INCH-LONG SCAR that cuts across the middle of his left cheek. He earned it in high school, during a chemistry class experiment. Straubel whipped up the wrong concoction of chemicals, and the beaker he was holding exploded, throwing off shards of glass, one of which sliced through his face. The wound lingers as a tinkerer’s badge of honor. It arrived near the end of a childhood full of experimentation with chemicals and machines. Born in Wisconsin, Straubel constructed a large chemistry lab in the basement of his family’s home that included fume hoods and chemicals ordered, borrowed, or pilfered. At thirteen, Straubel found an old golf cart at the dump. He brought it back home and restored it to working

Poor Luka, he'll never know what it is to have six sisters trying to borrow his clothes" "Well maybe he will" Sasha joked. "Katya says she wants more, and maybe one day you'll have seven daughters of your own." "Please, don't curse me today, Sashenka," Marya sighed. "I've had a very trying morning, and I simply cannot bring myself to imagine such a dystopian future right now.

The present presses automatically on you. The future does not. To attend to the future requires bandwidth, which scarcity taxes. When scarcity taxes our bandwidth, we become even more focused on the here and now. We need cognitive resources to gauge future needs, and we need executive control to resist present temptations. As it taxes our bandwidth, scarcity focuses on the present, and leads us to borrow.

I imagined Julián Caraxat my age, holding that image in his hands, perhaps in the shade of the same tree that now sheltered me. I could almost see him smiling confidently, contemplating a future as wide and luminous as that avenue, and for a moment I thought there were no more ghosts there than that of absence and loss that the light that smiled on me was borrowed light, real only as long as I could hold it in my eyes, second by second.

There exist concretely alarm clocks, signboards, tax forms, policemen, so many guard rails against anguish. But as soon as the enterprise is held at a distance from me, as soon as I am referred to myself because I must await myself in the future, then I discover myself suddenly as the one who gives its meaning to the alarm clock, the one who by a signboard forbids himself to walk on a flower bed or on the lawn, the one from whom the boss's order borrows its urgency, the one who decides the interest of the book which he is writing, the one who finally makes the values exist in order to determine his action by their demands. I emerge alone and in anguish confronting the unique and original project which constitutes my being; all the barriers, all the guard rails collapse, nihilated by the consciousness of my freedom.

Laughter paves the way for many things. It's one way to build intimacy between people, something every healthy team needs. Humor has always been a primary part of how I lead. If I can get someone to laugh, they're at ease. If they see me laugh at things, they're at ease. It creates emotional space, a kind of trust, to use in a relationship. Sharing laughter also creates a bank account of positive energy you can withdraw from, or borrow against, when dealing with tough issues at work. It's a relationship cushion.

Nothing Exists outside the NOW Nothing ever happened in the past - It happened in the Now. Nothing will ever happen in the future - It will happen in the Now. When you think of the past, it is stored in the mind as a former now, and when you think about the past, when do you do it? - You do it now! When the future comes - it comes in the now, and when you think about the future, when do you do it? - You do it now! The past and the future have no realities of their own. Their realities are "borrowed" from the now.

She could no longer borrow from the future to help her through the present grief.

But maybe I’d need something to read on my ride to my future, I thought. I could borrow a few of the finer books from the X-ville library, disappear and never return them.

In post-modern finance, everybody took a risk when lending or borrowing.

Borrow money only for an education that will yield enough of a return in the job market to allow you to pay your loans back.

Don't steal anything from your past or borrow anything from your future. Pay your dues today. That's living life.

There’s no problem with borrowing from the future in order to finance investments in the future.

Why do we borrow when we face situations of scarcity? We borrow because we tunnel. And when we borrow, we dig ourselves deeper in the future. Scarcity today creates more scarcity tomorrow.

I’m just an apprentice, stuck between these borrowed first and last breaths that I was given, drinking water of life, and chasing the fire of knowledge, and waiting to mingle with my eternal and faithful love, earth.

And the irony is that the war purchases are recorded as a positive for economic growth and the GDP. Though the war spending is an economic negative and provides no improvement in the people’s standard of living, the government statisticians brag about an upward blip in the GDP. Besides, these bills are paid for by borrowing and printing money, thus increasing future debt obligations and causing higher prices for the next generation.

One reason for this is the bandwidth tax. The present presses automatically on you. The future does not. To attend to the future requires bandwidth, which scarcity taxes. When scarcity taxes our bandwidth, we become even more focused on the here and now. We need cognitive resources to gauge future needs, and we need executive control to resist present temptations. As it taxes our bandwidth, scarcity focuses us on the present, and leads us to borrow.

When you borrow a lot of money to create a false prosperity, you import the future into the present. It isn’t the actual future so much as some grotesque silicone version of it. Leverage buys you a glimpse of a prosperity you haven’t really earned.

My curiosity for the stars is obvious: I wanted something to tell me my future was bright. I can imagine myself saying at the time that life itself was like a book borrowed from the library—something that did not belong to me and was due to expire. How silly.

Ultimately this is not merely about dreary yet didactic statistics but, as Dr. Williams insisted, it is about morality. The devastating consequences of wealth redistribution, intergenerational thievery, massive federal spending, endless borrowing, and unimaginable debt accumulation on American society, and most particularly on the ruling generation and future generations, are a travesty. Stealing from the future does not establish the utopia promised by the statists. It is the rising generation’s grave moral failure.

Every major war in American history, except the Mexican and Spanish-American, has either led to central banking or resulted from it. Central banking and government have a symbiotic relationship that is often mediated by war. Central banking gives government a way to tap the productive power of the private sector and borrow from the future without the need to rely overmuch on unpopular tax increases. Government gives central banking the extreme profits that derive from immense borrowing to finance wars and other government projects.

Social Security and Medicare were sold to the public as insurance programs. They are not. As such, they now rely mostly on the “contributions” of younger workers and massive federal borrowing to subsidize them. Despite repeated and dire warnings about their unsustainable fiscal condition from the trustees appointed to oversee them, younger workers are compelled to continue to pay into these programs, from which they are unlikely to benefit upon their retirement and for which future generations will bear the brunt of their eventual collapse.

Musk had spent months studying the aerospace industry and the physics behind it. From Cantrell and others, he’d borrowed Rocket Propulsion Elements, Fundamentals of Astrodynamics, and Aerothermodynamics of Gas Turbine and Rocket Propulsion, along with several more seminal texts.

When individuals are exchanging present goods against future goods they do not take account in their valuations of Variations in the objective exchange-value of money. Lenders and borrowers are not in the habit of allowing for possible future fluctuations in the objective exchange-value of money.

What you think of as the past is a memory trace, stored in the mind, of a former Now. When you remember the past, you reactivate a memory trace — and you do so now. The future is an imagined Now, a projection of the mind. When the future comes, it comes as the Now. When you think about the future, you do it now. Past and future obviously have no reality of their own. Just as the moon has no light of its own, but can only reflect the light of the sun, so are past and future only pale reflections of the light, power, and reality of the eternal present. Their reality is “borrowed” from the Now.

Thus, Rajaji wrote of the need to try and think fundamentally in the present crisis. Are we to yield to the fanatical emotions of our anti-Pakistan groups? Is there any hope for India or for Pakistan, if we go on hating each other, suspecting each other, borrowing and building up armaments against each other – building our two houses, both of us on the sands of continued foreign aid against a future Kurukshetra? We shall surely ruin ourselves for ever if we go on doing this . . . We shall be making all hopes of prosperity in the future a mere mirage if we continue this arms race based on an ancient grudge and the fears and suspicions flowing from it.27

To put these complicated matters into very simple terms, you create a cycle virtually anytime you borrow money. Buying something you can’t afford means spending more than you make. You’re not just borrowing from your lender; you are borrowing from your future self. Essentially, you are creating a time in the future in which you will need to spend less than you make so you can pay it back. The pattern of borrowing, spending more than you make, and then having to spend less than you make very quickly resembles a cycle. This is as true for a national economy as it is for an individual. Borrowing money sets a mechanical, predictable series of events into motion.

Such high interest rates are prohibitive for long-term projects; at 20% per annum, the amount owed doubles in less than four years. With such a crushing future burden, no rational businessman or corporation borrows to fund a project that will not become profitable for five or ten years, as is the case with most large commercial undertakings.

Borrowing and spending money never leads to prosperity or happiness. It is advisable to live within our means and avoid debt. Borrowing money is simply one method of deferring absorbing today’s pain in exchange for repaying it with greater pain on a later day. Acceptance of a short period of discomfort is wiser than to mortgage a person’s future.

The devastating consequences of wealth redistribution, intergenerational thievery, massive federal spending, endless borrowing, and unimaginable debt accumulation on American society, and most particularly on the ruling generation and future generations, are a travesty. Stealing from the future does not establish the utopia promised by the statists. It is the rising generation’s grave moral failure.

matinees had borrowed freely from those ancient tales. And that the stories we learned in Sunday school corresponded with those of other cultures that recognized the soul’s high adventure, the quest of mortals to grasp the reality of God. He helped me to see the connections, to understand how the pieces fit, and not merely to fear less but to welcome what he described as “a mighty multicultural future.

It will get easier’ is probably the most offensive thing you can say to someone in the grip of pain. You are borrowing from a future that isn’t promised, a future that depends entirely on their endurance of the pain. You are taking for granted a well of strength within them that they may not possess, fast-forwarding through the ugly bits that you don’t want to watch but they must live through, nonetheless.

I had the luxury of knowing what I wanted to do. So I just sat on the bed and came up with a plan for myself: "I have to go to the Edinburgh Fringe. But I don't have the confidence to do a production there because I've never gone before, and I don't even know how to get there or what to do once I get there. So I will just act as if I do have the confidence to go to the Edinburgh Fringe. I'll just borrow confidence from a future version of myself. Once I've been to the Edinburgh Fringe and performed a show there, then I will have the confidence to go to the Edinburgh Fringe. I will go to the bank manager of confidence (in some part of my brain) and I will borrow that confidence from the future, and then I can wear it like a cloak, and I will talk to everyone with this confidence." It was out there as a concept, but it worked.

The real force that pushed history to breakneck velocity […] was not the share market. Share markets were simply not liquid enough to bankroll Edison-sized ambitions. At the turn of the 20th century […] neither the banks nor the share markets could raise the kind of money needed to build all those power stations, grids, factories and distribution networks. To get those vast projects off the ground, what was required was an equivalently-sized network of credit. Hand-in-hand, shareholding and technology led to the creation of shareholder-owned mega banks, willing to lend to the new mega firms by generating a new kind of mega debt. This took the form of vast overdraft facilities for the Thomas Edisons and the Henry Fords of the world. Of course, the money they were lent did not actually exist… yet. Rather, it was as if they were borrowing the future profits of their mega firms in order to fund those mega firms’ construction.

He borrowed $28,000 and founded a software company that produced an online city guide for the newspaper publishing industry. He sold it to Compaq for $341 million four years later. He netted $22 million from that sale and immediately plowed the profits into a new company called X.com, which would evolve into PayPal. In 2002, eBay bought PayPal for $1.5 billion, from which Musk received $165 million. Flush with cash, he harnessed these funds to fulfill his dreams, creating SpaceX and Tesla Motors.

Goddamn I hated waiting. Waiting for a bus. Waiting for a train. Waiting for a taxi. Waiting for a plane. Waiting to get to a destination. Waiting for something interesting to happen. Some people tolerated the waiting; I didn’t. And when something finally happened, it was rarely as good as you expected it to be because you had made it seem much better in your head while you were waiting. Moreover, since we tended to borrow joy from the future in order to make the present more palatable, this made the already unlikely future even less enjoyable when it arrived. If it ever did.

The first true men had tools and weapons only a little better than those of their ancestors a million years earlier, but they could use them with far greater skill. And somewhere in the shadowy centuries that had gone before they had invented the most essential tool of all, though it could be neither seen nor touched. They had learned to speak, and so had won their first great victory over Time. Now the knowledge of one generation could be handed on to the next, so that each age could profit from those that had gone before. Unlike the animals, who knew only the present, Man had acquired a past; and he was beginning to grope toward a future. He was also learning to harness the force of nature; with the taming of fire, he had laid the foundations of technology and left his animal origins far behind. Stone gave way to bronze, and then to iron. Hunting was succeeded by agriculture. The tribe grew into the village, the village into the town. Speech became eternal, thanks to certain marks on stone and clay and papyrus. Presently he invented philosophy, and religion. And he peopled the sky, not altogether inaccurately, with gods. As his body became more and more defenseless, so his means of offense became steadily more frightful. With stone and bronze and iron and steel he had run the gamut of everything that could pierce and slash, and quite early in time he had learned how to strike down his victims from a distance. The spear, the bow the gun and finally the guided missile had given him weapons of infinite range and all but infinite power. Without those weapons, often though he had used them against himself, Man would never have conquered his world. Into them he had put his heart and soul, and for ages they had served him well. But now, as long as they existed, he was living on borrowed time.

She could no longer borrow from the future to help her through the present grief. To-morrow would bring its own trial with it; so would the next day, and so would the next; each its own trial, and yet the very same that was now so unutterably grievous to be borne. The days of the far-off future would toil onward, still with the same burden for her to take up, and bear along with her, but never to fling down; for the accumulating days, and added years, would pile up their misery upon the heap of shame. Throughout them all, giving up her individuality, she would become the general symbol at which the preacher and moralist might point.

Forty years ago, Richard Branson, who ultimately founded Virgin Air, found himself in a similar situation in an airport in the Caribbean. They had just canceled his flight, the only flight that day. Instead of freaking out about how essential the flight was, how badly his day was ruined, how his entire career was now in jeopardy, the young Branson walked across the airport to the charter desk and inquired about the cost of chartering a flight out of Puerto Rico. Then he borrowed a portable blackboard and wrote, “Seats to Virgin Islands, $39.” He went back to his gate, sold enough seats to his fellow passengers to completely cover his costs, and made it home on time.

[A man] finds himself forced by necessity to borrow money. He knows that he will not be able to repay it, but sees also that nothing will be lent to him unless he promises stoutly to repay it in definite time. He desires to make this promise, but he has still so much conscience as to ask himself: Is it not unlawful and inconsistent with duty to get out of a difficulty in this way? Suppose, however, that he resolves to do so, then the maxim of his action would be expressed thus: When I think myself in want of money, I will borrow money and promise to repay it, although I know that I never can do so. Now this principle of self-love or of one's own advantage may perhaps be consistent with my whole future welfare; but the question now is, Is it right? I change then the suggestion of self-love into a universal law, and state the question thus: How would it be if my maxim were a universal law? Then I see at once that it could never hold as a universal law of nature, but would necessarily contradict itself. For supposing it to be a universal law that everyone when he thinks himself in a difficulty should be able to promise whatever he pleases, with the purpose of not keeping his promise, the promise itself would become impossible, as well as the end that one might have in view in it, since no one would consider that anything was promised to him, but would ridicule all such statements as vain pretenses.

Listening to my heartbeat was the only comfort I had. However, my heavy heart sinks from carrying what seems like everlasting pain. My heart is now ripped from my soul because I cannot feel the warm blood in my veins. I feel a cold front coming, and now my heart is frozen. I am cold—a cold-hearted soul. My heart no longer beats for borrowed peace because it is paralyzed from continually having to start over again. I have officially lost hope. What is hope? In my eyes, hope is a teaser. I had hoped that things will get better, but when? Hope is not for now—it is for the future. Therefore, I guess hope is saying that things will not be better today, but maybe years or decades from now. With that being said, hope is not faith. Hope is wishful thinking. Hope is always shattered by one disappointment after another.

Fritz Lang's 1927 film Metropolis is commonly regarded as one of the classics of cinema, and at the time it was probably the most expensive film ever made. Only in light of recent restoration work, though, can we see how explicitly it draws on apocalyptic themes in its prophetic depiction of modern society. Partly, Metropolis reflects the ideas of Oswald Spengler, whose sensationally popular book The Decline of the West appeared in 1918. Spengler presented nightmare forecasts of the vast megalopolis, ruled by the superrich, with politics reduced to demagoguery and Caesarism, and religion marked by strange oriental cults. Lang borrowed that model but added explicit references to the Bible, and particularly Revelation. In the future world of Metropolis, the ruling classes dwell in their own Tower of Babel, while the industrial working class is literally enslaved to Moloch.

And then, Jane looks August straight on, folds her arms across her chest, and says, “What the fuck, August?” August mentally flips through the plan for tonight—nope, definitely not part of it. “What?” “I can’t do this anymore,” Jane says. She paces toward August, sneakers thumping hard on the floor of the car. She’s pissed off. Brow furrowed, eyes vivid and angry. August scrambles to figure out how she screwed this up so fast. “You—you can’t do what?” “August,” she says, and she’s right in front of her. “Is this a date? Am I on a date right now?” Fuck. August leans against the door, equivocating. “Do you want it to be a date?” “No,” Jane says, “you tell me, because I have been putting every move I know on you for months and I can’t figure you out, and you kept saying you were only kissing me for research, and then you stopped kissing me, but then you kissed me again, and you’re standing there looking like that in fucking thigh highs and bringing me wine and making me feel things I didn’t even know I could remember how to feel, and I’m going out of my goddamn mind—” “Wait.” August holds both hands up. Jane’s breaths are coming high and short, and August suddenly feels close to hysterical. “You like me?” Jane’s hands clench into fists. “Are you kidding me?” “But I asked you on a date!” “When?” “That time I asked you out to drinks!” “That was a date?” “I—but—and you—all those other girls you told me about, you were always—you just went for it, I thought if you wanted me like that, you would have gone for it by now—” “Yeah,” Jane says flatly, “but none of those girls were you.” August stares. “What do you mean?” “Jesus, August, what do you think I mean?” Jane says, voice cracking, arms thrown out at her sides. “None of them were you. Not a single one of them was this girl who dropped out of the fucking future to save me with her ridiculous hair and her pretty hands and her big, sexy brain, okay, is that what you want me to say? Because it’s the truth. Everything else about my life is fucked, so, can you—can you please just tell me, am I on a fucking date right now?” She makes a helpless gesture, and August is breathless at the pure frustration in it, the way it looks so broken in, like Jane’s been living with it for months. And her hands are shaking. She’s nervous. August makes her nervous. It sinks in and rearranges in August’s brain—the borrowed kisses, the times Jane’s bit her lip or slid her hand across August’s waist or asked her to dance, all the ways she’s tried to say it without saying it. They’re both hopeless at saying it, August realizes. So August opens her mouth and says, “It was never just research.” “Of course it fucking wasn’t,” Jane says, and she hauls August in by the sway of her waist and finally, finally kisses her.

So far as variations in the objective exchange-value of money are foreseen, they influence the terms of credit transactions. If a future fall in the purchasing power of the monetary unit has to be reckoned with, lenders must be prepared for the fact that the sum of money which a debtor repays at the conclusion of the transaction will have a smaller purchasing power than the sum originally lent. Lenders, in fact, would do better not to lend at all, but to buy other goods with their money. The contrary is true for debtors. If they buy commodities with the money they have borrowed and sell them again after a time, they will retain a surplus over and above the sum that they have to pay back. The credit transaction results in a gain for them. Consequently it is not difficult to understand that, so long as continued depreciation is to be reckoned with, those who lend money demand higher rates of interest and those who borrow money are willing to pay the higher rates. If, on the other hand, it is expected that the value of money will increase, then the rate of interest will be lower than it would otherwise have been.

Because so many people were betting against GameStop —and brick-and-mortar retail in general — the overall short position was enormous, almost comically so. At certain points over the past six months, it had bounced between 50 and even 100 percent of the overall float, meaning nearly all the shares of GameStop in existence had been borrowed and sold by short sellers, all of whom had an obligation to rebuy those shares at some point in the future. So, what if Keith was right, and the stock went up instead of down? It would be like watching investors trying to get out of a burning building, through a single, narrow door. The stock would rocket. As a financial educator, Keith knew that short selling could be one of the riskiest plays on the market. You really needed to be certain a stock was going down, because your upside was limited, but your losses could, theoretically, be infinite. The fact that so many competent investors were short selling GameStop could mean the stock really was a dog; but it also meant the stock was loaded with rocket fuel, and it wouldn't take much to ignite and sent it right to the moon.

...[A]ll the elements which belong to the notion of happiness are altogether empirical, that is, they must be borrowed from experience, and nevertheless the idea of happiness requires an absolute whole, a maximum of welfare in my present and all future circumstances. Now it is impossible that the most clear-sighted and at the same time most powerful being (supposed finite) should frame to himself a definite conception of what he really wills in this. Does he will riches, how much anxiety, envy, and snares might he not thereby draw upon his shoulders? Does he will knowledge and discernment, perhaps it might prove to be only an eye so much the sharper to show him so much the more fearfully the evils that are now concealed from him and that cannot be avoided, or to impose more wants on his desires, which already give him concern enough. Would he have long life? Who guarantees to him that it would not be a long misery? Would he at least have health? How often has uneasiness of the body restrained from excesses into which perfect health would have allowed one to fall, and so on? In short, he is unable, on any principle, to determine with certainty what would make him truly happy; because to do so he would need to be omniscient.

Dear Hopeless Soul, Listening to my heartbeat was the only comfort I had. However, my heavy heart sinks from carrying what seems like everlasting pain. My heart is now ripped from my soul because I cannot feel the warm blood in my veins. I feel a cold front coming, and now my heart is frozen. I am cold—a cold-hearted soul. My heart no longer beats for borrowed peace because it is paralyzed from continually having to start over again. I have officially lost hope. What is hope? In my eyes, hope is a teaser. I had hoped that things will get better, but when? Hope is not for now—it is for the future. Therefore, I guess hope is saying that things will not be better today, but maybe years or decades from now. With that being said, hope is not faith. Hope is wishful thinking. Hope is always shattered by one disappointment after another. Right now, I am in my own shadow. It is dark and lonely. I am a nightwalker trying to find the light within me somewhere. I can’t find myself in my own shadow. Well, what do I expect? My heart is cold. Hope has played with my emotions one too many times, and the only thing I can count on as of right now is my shadow. I do not have anything in life. I am a soul that is trying to find my way. Where am I going? I do not know. Everything has been taken from me, but they cannot take my shadow, and they cannot own my name. Faded from within.

Hamilton argued that the security of liberty and property were inseparable and that governments should honor their debts because contracts formed the basis of public and private morality: “States, like individuals, who observe their engagements are respected and trusted, while the reverse is the fate of those who pursue an opposite conduct.”The proper handling of government debt would permit America to borrow at affordable interest rates and would also act as a tonic to the economy. Used as loan collateral, government bonds could function as money—and it was the scarcity of money, Hamilton observed, that had crippled the economy and resulted in severe deflation in the value of land. America was a young country rich in opportunity. It lacked only liquid capital, and government debt could supply that gaping deficiency. The secret of managing government debt was to fund it properly by setting aside revenues at regular intervals to service interest and pay off principal. Hamilton refuted charges that his funding scheme would feed speculation. Quite the contrary: if investors knew for sure that government bonds would be paid off, the prices would not fluctuate wildly, depriving speculators of opportunities to exploit. What mattered was that people trusted the government to make good on repayment: “In nothing are appearances of greater moment than in whatever regards credit. Opinion is the soul of it and this is affected by appearances as well as realities.” Hamilton intuited that public relations and confidence building were to be the special burdens of every future treasury secretary.

This is why, from this point on, no debt will be paid off. It can at best be bought back at a knock-down price and put back on to a debt market — the public sector borrowing requirement, the national debt, th e world deb t — having once again become an exchange value. It is unlikely the debt will ever be called in, and this is what gives it its incalculable value. For, suspended as it is in this way, it is our only insurance against time. Unlike the countdown, whic h signifies th e exhaustion of time, the indefinitely deferred debt is our guarantee that time itself is inexhaustible. Now, we very much need assuring about time in this way at the very poin t whe n the future itself is tendin g to be wholly consume d in real time . Clearing the debt, balancing up the books, writing off Third World debt — these are things not even to be contemplated. It is only the disequilibrium of the debt, its proliferation, its promise of infinity, which keeps us going. The global, planetary debt clearly has no meaning in traditional terms of obligation and credit. On the other hand, it is our true collective claim on each other — a symbolic claim, by whic h persons, companies and nations find themselves bound to one another through lack. Each is bound to the other (even the banks) by their virtual bankruptcy , as accomplices are bound by their crime. All assured of existing for each other in the shade of a debt which cannot be settled or written off, since the repayment of the accumulated world debt would take far more than the funds available. The only sense of it, then, is to bind all civilized human beings into the same destiny as creditors. Just as nuclear weapons, stockpiled across the world to a point of considerable planetary overkill, have no other meaning than to bind all human beings into a single destiny of threat and deterrence.

And spend they did. Money circulated faster and spread wider through its communities of use than at any other time in economic history.8 Workers labored fewer days and at higher wages than before or since; people ate four meals a day; women were taller in Europe than at any time until the 1970s; and the highest percentage on record of business profits went to preventative maintenance on equipment. It was a period of tremendous growth and wealth. Meanwhile, with no way of storing or growing value with this form of money over the long term, people made massive investments in architecture, particularly cathedrals, which they knew would attract pilgrims and tourists for years to come. This was their way of investing in the future, and the pre-Renaissance era of affluence became known as the Age of Cathedrals. The beauty of a flow-based economy is that it favors those who actively create value. The problem is that it disfavors those who are used to reaping passive rewards. Aristocratic landowning families had stayed rich for centuries simply by being rich in the first place. Peasants all worked the land in return for enough of their own harvest on which to subsist. Feudal lords did not participate in the peer-to-peer economy facilitated by local currencies, and by 1100 or so, most or the aristocracy’s wealth and power was receding. They were threatened by the rise of the merchant middle class and the growing bourgeois population, and had little way of participating in all the sideways trade. The wealthy needed a way to make money simply by having money. So, one by one, each of the early monarchies of Europe outlawed the kingdom’s local currencies and replaced them with a single central currency. Instead of growing their money in the fields, people would have to borrow money from the king’s treasury—at interest. If they wanted a medium through which to transact at the local marketplace, it meant becoming indebted to the aristocracy.

As I saw it, there was a 75 percent chance the Fed’s efforts would fall short and the economy would move into failure; a 20 percent chance it would initially succeed at stimulating the economy but still ultimately fail; and a 5 percent chance it would provide enough stimulus to save the economy but trigger hyperinflation. To hedge against the worst possibilities, I bought gold and T-bill futures as a spread against eurodollars, which was a limited-risk way of betting on credit problems increasing. I was dead wrong. After a delay, the economy responded to the Fed’s efforts, rebounding in a noninflationary way. In other words, inflation fell while growth accelerated. The stock market began a big bull run, and over the next eighteen years the U.S. economy enjoyed the greatest noninflationary growth period in its history. How was that possible? Eventually, I figured it out. As money poured out of these borrower countries and into the U.S., it changed everything. It drove the dollar up, which produced deflationary pressures in the U.S., which allowed the Fed to ease interest rates without raising inflation. This fueled a boom. The banks were protected both because the Federal Reserve loaned them cash and the creditors’ committees and international financial restructuring organizations such as the International Monetary Fund (IMF) and the Bank for International Settlements arranged things so that the debtor nations could pay their debt service from new loans. That way everyone could pretend everything was fine and write down those loans over many years. My experience over this period was like a series of blows to the head with a baseball bat. Being so wrong—and especially so publicly wrong—was incredibly humbling and cost me just about everything I had built at Bridgewater. I saw that I had been an arrogant jerk who was totally confident in a totally incorrect view. So there I was after eight years in business, with nothing to show for it. Though I’d been right much more than I’d been wrong, I was all the way back to square one.

That, for a while, seemed like life. And if I was really being honest with myself, I wasn’t into it. The only option was to sit in the pews every Sunday at church and casually wonder if I was going to go to hell because of who I was? No, thank you. Or to understand that the structures on which the country was built were engineered against me? Hard pass. What choice did I have besides constantly code-switching between identities as a means of hiding in plain sight? And wasn’t it just normal to feel like such a mistake as an adult that every time I walked over a bridge or stood on a subway platform, I had to talk myself out of stepping over the edge? I came to believe I was a monster and that I deserved to feel the way I felt. And I didn’t want to turn the page. But through it all there was a constant tethering me to the idea of a future: the library. The library is the place where I could borrow first Grover’s philosophical tome, then a couple of Choose Your Own Adventures I could cheat at, and later a stack of mysteries I could spoil for myself, all attempts to look for some other way of understanding who I was. In the book stacks, I found The Bluest Eye and The Color Purple and Giovanni’s Room and David Rakoff’s Fraud and more. I saw a new vision of Otherness in those books, and the pages kept turning. At the end of every one was a wall waiting to be broken down—a lurch toward becoming—a new paragraph in a story with an ending far different from what I’d ever dared imagine. Every story, whether truth or fiction, is an invitation to imagination, but even more so, it’s an invitation to empathy. The storyteller says, “I am here. Does it matter?” The words that I found in these books were a person calling out from a page, “I am worthy of being heard and you are worthy of hearing my story.” It seems simple but it’s a bold declaration. How many times in life do we receive the message, implicit or explicit, that what we’ve experienced or what we feel isn’t noteworthy or remarkable? The books that I found in the library, ones that I deeply understood and ones that seemed so outside of my experience they might as well have been written in Klingon, all carried the same hopes: to be seen, to be heard, to exist.

Learning to meditate helped too. When the Beatles visited India in 1968 to study Transcendental Meditation at the ashram of Maharishi Mahesh Yogi, I was curious to learn it, so I did. I loved it. Meditation has benefited me hugely throughout my life because it produces a calm open-mindedness that allows me to think more clearly and creatively. I majored in finance in college because of my love for the markets and because that major had no foreign language requirement—so it allowed me to learn what I was interested in, both inside and outside class. I learned a lot about commodity futures from a very interesting classmate, a Vietnam veteran quite a bit older than me. Commodities were attractive because they could be traded with very low margin requirements, meaning I could leverage the limited amount of money I had to invest. If I could make winning decisions, which I planned to do, I could borrow more to make more. Stock, bond, and currency futures didn’t exist back then. Commodity futures were strictly real commodities like corn, soybeans, cattle, and hogs. So those were the markets I started to trade and learn about. My college years coincided with the era of free love, mind-expanding drug experimentation, and rejection of traditional authority. Living through it had a lasting effect on me and many other members of my generation. For example, it deeply impacted Steve Jobs, whom I came to empathize with and admire. Like me, he took up meditation and wasn’t interested in being taught as much as he loved visualizing and building out amazing new things. The times we lived in taught us both to question established ways of doing things—an attitude he demonstrated superbly in Apple’s iconic “1984” and “Here’s to the Crazy Ones,” which were ad campaigns that spoke to me. For the country as a whole, those were difficult years. As the draft expanded and the numbers of young men coming home in body bags soared, the Vietnam War split the country. There was a lottery based on birthdates to determine the order of those who would be drafted. I remember listening to the lottery on the radio while playing pool with my friends. It was estimated that the first 160 or so birthdays called would be drafted, though they read off all 366 dates. My birthday was forty-eighth.

Good manners disappear proportionately as the influence of the court and a self-contained aristocracy declines. This decrease can be observed clearly from decade to decade, if one has an eye for public events, which visibly become more and more vulgar. No one today understands how to pay homage or flatter with wit; this leads to the ludicrous fact that in cases where one must do homage (to a great statesman or artist, for example), one borrows the language of deepest feeling, of loyal and honorable decency-out of embarrassment and a lack of wit and grace. So men's public, ceremonious encounters seem ever more clumsy, but more tender and honorable, without being so. But will manners keep going downhill? I think, rather, that manners are going in a deep curve, and that we are nearing its low point. Now we inherit manners shaped by earlier conditions, and they are passed on and learned ever less thoroughly. But once society has become more certain of its intentions and principles, these will have a shaping effect, and there will be social manners, gestures, and expressions that must appear as necessary and simply natural as these intentions and principles are. Better division of time and labor; gymnastic exercise become the companion of every pleasant leisure hour; increased and more rigorous contemplation, which gives cleverness and suppleness even to the body-all this will come with it. As this point one might, of course, think, somewhat scornfully, of our scholars: do they, who claim to be antecedents of the new culture, distinguish themselves by superior manners? Such is not the case, though their spirit may be willing enough: their flesh is weak.9 The past is still too strong in their muscles; they still stand in an unfree position, half secular clergymen, half the dependent educators of the upper classes; in addition, the pedantry of science and out-of-date, mindless methods have made them crippled and lifeless. Thus they are, bodily at least, and often three-quarters spiritually, too, still courtiers of an old, even senile culture, and, as such, senile themselves; the new spirit, which occasionally rumbles about in these old shells, serves for the meanwhile only to make them more uncertain and anxious. They are haunted by ghosts of the past, as well as ghosts of the future; no wonder that they neither look their best, nor act in the most obliging way.

Collateral Capacity or Net Worth? If young Bill Gates had knocked on your door asking you to invest $10,000 in his new company, Microsoft, could you get your hands on the money? Collateral capacity is access to capital. Your net worth is irrelevant if you can’t access any of the money. Collateral capacity is my favorite wealth concept. It’s almost like having a Golden Goose! Collateral can help a borrower secure loans. It gives the lender the assurance that if the borrower defaults on the loan, the lender can repossess the collateral. For example, car loans are secured by cars, and mortgages are secured by homes. Your collateral capacity helps you to avoid or minimize unnecessary wealth transfers where possible, and accumulate an increasing pool of capital providing accessibility, control and uninterrupted compounding. It is the amount of money that you can access through collateralizing a loan against your money, allowing your money to continue earning interest and working for you. It’s very important to understand that accessibility, control and uninterrupted compounding are the key components of collateral capacity. It’s one thing to look good on paper, but when times get tough, assets that you can’t touch or can’t convert easily to cash, will do you little good. Three things affect your collateral capacity: ① The first is contributions into savings and investment accounts that you can access. It would be wise to keep feeding your Golden Goose. Often the lure of higher return potential also brings with it lack of liquidity. Make sure you maintain a good balance between long-term accounts and accounts that provide immediate liquidity and access. ② Second is the growth on the money from interest earned on the money you have in your account. Some assets earn compound interest and grow every year. Others either appreciate or depreciate. Some accounts could be worth a great deal but you have to sell or close them to access the money. That would be like killing your Golden Goose. Having access to money to make it through downtimes is an important factor in sustaining long-term growth. ③ Third is the reduction of any liens you may have against these accounts. As you pay off liens against your collateral positions, your collateral capacity will increase allowing you to access more capital in the future. The goose never quit laying golden eggs – uninterrupted compounding. Years ago, shortly after starting my first business, I laughed at a banker that told me I needed at least $25,000 in my business account in order to borrow $10,000. My business owner friends thought that was ridiculously funny too. We didn’t understand collateral capacity and quite a few other things about money.

It felt like fate when I first encountered the automated trading system that promised to transform small investments into substantial wealth over time. The marketing was aggressive, bombarding my social media feeds with images of people lounging on exotic beaches, driving fancy cars, and celebrating their newfound financial freedom. WhatsApp info:+12723328343 As a recent college graduate struggling to make ends meet, I was desperate for a way out of my financial rut, and the allure of easy money was too tempting to ignore. On a whim, I decided to take the plunge. I borrowed from my meager savings and even took out a small loan to fund my excitement. The rush I felt when signing up was like nothing I had ever experienced—an intoxicating thrill, like hopping onto a rollercoaster at full speed. At first, everything seemed to be going exactly as promised. My investment seemed to grow almost overnight, doubling and tripling in value.  My skepticism began to fade, replaced by a sense of confidence and hope for the future. I even shared my success with friends and family, excitedly telling them about the platform that was going to change my life. I imagined a future free from financial worries, a life of luxury and freedom, all thanks to this “revolutionary” trading system. But soon, a familiar sense of unease began to settle in. What had been an impressive surge in profits suddenly plateaued, and I found myself facing unexpected hurdles when trying to withdraw my funds. Pop-up messages about my “account needing an upgrade” and “market tightening” explained away the issues, but the discomfort grew. Still, I convinced myself that success required patience and continued to hold out hope that the system would recover. As weeks turned into months, my investment continued to dwindle. The once-promising account balance plummeted, and each attempt to reach customer support went unanswered. The promises of easy wealth had turned into an unsettling nightmare. Email info: Adwarerecoveryspecialist@auctioneer. net Desperate for answers, I began scouring the internet for any information or advice. That’s when I stumbled across reviews of ADWARE RECOVERY SPECIALIST , a service that seemed to specialize in helping people like me recover lost funds from fraudulent platforms. I felt a glimmer of hope as I read about others who had managed to retrieve their investments with the help of ADWARE RECOVERY SPECIALIST. Perhaps, after all, there was still a way out of this mess. I reached out to their team, and to my relief, they were able to assist me in recovering a portion of the money I thought I had lost for good. ADWARE RECOVERY SPECIALIST gave me the guidance and support I needed to navigate this complicated process, helping me regain control of a situation that had seemed hopeless. Their professionalism and expertise allowed me to salvage what I could, and for that, I am incredibly grateful.

Today the cloud is the central metaphor of the internet: a global system of great power and energy that nevertheless retains the aura of something noumenal and numnious, something almost impossible to grasp. We connect to the cloud; we work in it; we store and retrieve stuff from it; we think through it. We pay for it and only notice it when it breaks. It is something we experience all the time without really understanding what it is or how it works. It is something we are training ourselves to rely upon with only the haziest of notions about what is being entrusted, and what it is being entrusted to. Downtime aside, the first criticism of this cloud is that it is a very bad metaphor. The cloud is not weightless; it is not amorphous, or even invisible, if you know where to look for it. The cloud is not some magical faraway place, made of water vapor and radio waves, where everything just works. It is a physical infrastructure consisting of phone lines, fibre optics, satellites, cables on the ocean floor, and vast warehouses filled with computers, which consume huge amounts of water and energy and reside within national and legal jurisdictions. The cloud is a new kind of industry, and a hungry one. The cloud doesn't just have a shadow; it has a footprint. Absorbed into the cloud are many of the previously weighty edifices of the civic sphere: the places where we shop, bank, socialize, borrow books, and vote. Thus obscured, they are rendered less visible and less amenable to critique, investigation, preservation and regulation. Another criticism is that this lack of understanding is deliberate. There are good reasons, from national security to corporate secrecy to many kinds of malfeasance, for obscuring what's inside the cloud. What evaporates is agency and ownership: most of your emails, photos, status updates, business documents, library and voting data, health records, credit ratings, likes, memories, experiences, personal preferences, and unspoken desires are in the cloud, on somebody else's infrastructure. There's a reason Google and Facebook like to build data centers in Ireland (low taxes) and Scandinavia (cheap energy and cooling). There's a reason global, supposedly post-colonial empires hold onto bits of disputed territory like Diego Garcia and Cyprus, and it's because the cloud touches down in these places, and their ambiguous status can be exploited. The cloud shapes itself to geographies of power and influence, and it serves to reinforce them. The cloud is a power relationship, and most people are not on top of it. These are valid criticisms, and one way of interrogating the cloud is to look where is shadow falls: to investigate the sites of data centers and undersea cables and see what they tell us about the real disposition of power at work today. We can seed the cloud, condense it, and force it to give up some of its stories. As it fades away, certain secrets may be revealed. By understanding the way the figure of the cloud is used to obscure the real operation of technology, we can start to understand the many ways in which technology itself hides its own agency - through opaque machines and inscrutable code, as well as physical distance and legal constructs. And in turn, we may learn something about the operation of power itself, which was doing this sort of thing long before it had clouds and black boxes in which to hide itself.

These senators and representatives call themselves “leaders.” One of the primary principles of leadership is that a leader never asks or orders any follower to do what he or she would not do themselves. Such action requires the demonstration of the acknowledged traits of a leader among which are integrity, honesty, and courage, both physical and moral courage. They don’t have those traits nor are they willing to do what they ask and order. Just this proves we elect people who shouldn’t be leading the nation. When the great calamity and pain comes, it will have been earned and deserved. The piper always has to be paid at the end of the party. The party is about over. The bill is not far from coming due. Everybody always wants the guilty identified. The culprits are we the people, primarily the baby boom generation, which allowed their vote to be bought with entitlements at the expense of their children, who are now stuck with the national debt bill that grows by the second and cannot be paid off. These follow-on citizens—I call them the screwed generation—are doomed to lifelong grief and crushing debt unless they take the only other course available to them, which is to repudiate that debt by simply printing up $20 trillion, calling in all federal bills, bonds, and notes for payoff, and then changing from the green dollar to say a red dollar, making the exchange rate 100 or 1000 green dollars for 1 red dollar or even more to get to zero debt. Certainly this will create a great international crisis. But that crisis is coming anyhow. In fact it is here already. The U.S. has no choice but to eventually default on that debt. This at least will be a controlled default rather than an uncontrolled collapse. At present it is out of control. Congress hasn’t come up with a budget in 3 years. That’s because there is no way at this point to create a viable budget that will balance and not just be a written document verifying that we cannot legitimately pay our bills and that we are on an ever-descending course into greater and greater debt. A true, honest budget would but verify that we are a bankrupt nation. We are repeating history, the history we failed to learn from. The history of Rome. Our TV and video games are the equivalent distractions of the Coliseums and circus of Rome. Our printing and borrowing of money to cover our deficit spending is the same as the mixing and devaluation of the gold Roman sisteri with copper. Our dysfunctional and ineffectual Congress is as was the Roman Senate. Our Presidential executive orders the same as the dictatorial edicts of Caesar. Our open borders and multi-millions of illegal alien non-citizens the same as the influx of the Germanic and Gallic tribes. It is as if we were intentionally following the course written in The History of the Decline and Fall of the Roman Empire. The military actions, now 11 years in length, of Iraq and Afghanistan are repeats of the Vietnam fiasco and the RussianAfghan incursion. Our creep toward socialism is no different and will bring the same implosion as socialism did in the U.S.S.R. One should recognize that the repeated application of failed solutions to the same problem is one of the clinical definitions of insanity. * * * I am old, ill, physically used up now. I can’t have much time left in this life. I accept that. All born eventually die and with the life I’ve lived, I probably should have been dead decades ago. Fate has allowed me to screw the world out of a lot of years. I do have one regret: the future holds great challenge. I would like to see that challenge met and overcome and this nation restored to what our founding fathers envisioned. I’d like to be a part of that. Yeah. “I’d like to do it again.” THE END PHOTOS Daniel Hill 1954 – 15

On Friday, July 11, Americans saw an actual bank run--not a metaphorical run, like the digital withdrawals that had crushed Bear, but a physical run on a physical bank, as in It's a Wonderful Life. That afternoon, the Office of Thrift Supervision and the FDIC shut down and seized IndyMac, a California thrift that was once part of Angelo Mozilo's Countrywide empire. IndyMac had flourished during the bubble by providing exotic mortgages to buyers without much in the way of income or assets. Its balance sheet was loaded with option adjustable-rate mortgages (ARMs), an almost comically irresponsible product that let borrowers choose their monthly payments, adding to their future obligations if they wanted to pay less at the moment.

Historical periods are often defined by single phrases which seem to capture the mood or the political climate of a nation at a particular point in time. In America today we are dangerously on the verge of entering a period when social problems are ignored and allowed to fester until they emerge at some future time in such a diseased condition that the social order is threatened with a general breakdown. We have been through a period of difficult change, and people are tired. They do not want to be reminded that there are still problems, most grievously that problem which Gunnar Myrdal called "the American dilemma." Whites are retreating, becoming hostile and fearful, blacks are becoming enraged, and liberals are confused and discontented. And the federal government, the principal agency through which we can find a way out of our racial agony, is in the hands of men who lack progressive intention. "Benign neglect," a phrase borrowed from the past, seems to define the present. Neglect of problems that are difficult to solve, avoidance of realities that are unpleasant to confront--Mr. Moynihan's phrase speaks to our society's weaknesses, its capacity for self-delusion and apathy. We have not entirely reached this point yet. There is still time to reverse our direction, to move forward. To fail to seize this opportunity today may make it impossible for us to do so in the future. Perhaps the lack of vision evinced by Mr. Moynihan can shock us into a recognition of how far we must still go to achieve the evasive yet splendid goal of racial justice.

We must take literally what vision teaches us: namely, that through it we come in contact with the sun and the stars, that we are everywhere all at once, and that even our power to imagine ourselves elsewhere—"I am in Petersburg in my bed, in Paris, my eyes see the sun"—or to intend real beings wherever they are, borrows from vision and employs means we owe to it. Vision alone makes us learn that beings that are different, "exterior," foreign to one another, are yet absolutely together, are "simultaneity"; this is a mystery psychologists handle the way a child handles explosives. Robert Delaunay says succinctly, "The railroad track is the image of succession which comes closest to the parallel: the parity of the rails." The rails converge and do not converge; they converge in order to remain equidistant down below. The world is in accordance with my perspective in order to be independent of me, is for me in order to be without me, and to be the world. The "visual quale" gives me, and alone gives me, the presence of what is not me, of what is simply and fully. It does so because, like texture, it is the concretion of a universal visibility, of a unique space which separates and reunites, which sustains every cohesion (and even that of past and future, since there would be no such cohesion if they were not essentially relevant to the same space). Every visual something, as individual as it is, functions also as a dimension, because it gives itself as the result of a dehiscence of Being. What this ultimately means is that the proper essence of the visible is to have a layer of invisibility in the strict sense, which it makes present as a certain absence...There is that which reaches the eye directly, the frontal properties of the visible; but there is also that which reaches it from below—the profound postural latency where the body raises itself to see—and that which reaches vision from above like the phenomena of flight, of swimming, of movement, where it participates no longer in the heaviness of origins but in free accomplishments. Through it, then, the painter touches the two extremities. In the immemorial depth of the visible, something moved, caught fire, and engulfed his body; everything he paints is in answer to this incitement, and his hand is "nothing but the instrument of a distant will." Vision encounters, as at a crossroads, all the aspects of Being... There is no break at all in this circuit; it is impossible to say that nature ends here and that man or expression starts here. It is, therefore, mute Being which itself comes to show forth its own meaning. Herein lies the reason why the dilemma between figurative and nonfigurative art is badly posed; it is true and uncontradictory that no grape was ever what it is in the most figurative painting and that no painting, no matter how abstract, can get away from Being, that even Caravaggio's grape is the grape itself. This precession of what is upon what one sees and makes seen, of what one sees and makes seen upon what is—this is vision itself.

Spengler’s vision of a new nationalist socialism became almost as influential as his Decline of the West. Spengler himself noted that it found a strong following among younger politicians and industrialists.68 Moeller van den Bruck borrowed from it heavily (just as Spengler had borrowed from Moeller’s earlier The Prussian Style) and argued in a similar vein that a future “third German Reich” must be socialist, in the sense of enjoying a self-sacrificing organic unity as well as being an enemy of decadent capitalism.

The MTA had become increasingly reliant on borrowing money against its future revenue rather than on funding from the state and city. The State of New York had contributed $1.8 billion for the MTA’s first five-year capital program, but nothing for the 2000–2004 program. Meanwhile, successive mayors cut New York City’s contributions to the MTA’s capital programs. The public did not understand the MTA’s predicament. A citywide survey indicated that most New Yorkers thought the MTA earned a profit on its subway service. In fact, subway riders paid only 44 percent of the authority’s operating costs, with taxes and tolls making up the rest. In 2004, the fastest-growing portion of the MTA’s budget was the interest expenses on its debt. The MTA’s outstanding debt had skyrocketed from $9 billion in the early 1990s to nearly $20 billion by 2004, and its annual interest payments were over $800 million.95

Just as Grant borrowed heavily from Houston Chamberlain, so did Stoddard borrow heavily from Grant in The Revolt Against Civilization, adding generous doses of Lombrosian-style statistical surveys to prove that the new immigrants were systematically undermining the racial future of America.* Stoddard’s Nordic type exhibited a remarkable fusion of neo-Gobinian and specifically American virtues. Nordic man was “at once democratic and aristocratic…. Profoundly individualistic and touchy about his personal rights, neither he nor his fellows will tolerate tyranny.” He was naturally averse to degeneration: “He requires healthful living conditions, and pines when deprived of good food, fresh air, and exercise.” His racial purity becomes the key to progress as well, since “our modern scientific age is mainly a product of Nordic genius.” All the nations with high infusions of Nordic blood were, according to Stoddard, “the most progressive as well as the most energetic and politically able.89 But Stoddard also dared to confront the paradox that underlay the Gobinian confrontation between cultural vitality and civilization. Even as a healthy racial stock generates society’s material wealth and cultural attainments, Gobineau had claimed, its openness to change and diversity sows the seeds of its own destruction. Ultimately the people discover that “their social environment has outrun inherited capacity.” The Anglo-Saxon heritage cannot sustain itself in the future without its racial stock. (Grant was also a keen eugenicist.) “The more complex the society and the more differentiated the stock,” Stoddard insisted, “the graver the liability of irreparable disaster.

Credit card spending is about borrowing from future joy to make the present happy/ sensational. Card Debt is like paying a price for your past. Of course you pay the price for your past. That's what credit cards are about.

Eliana stepped into her room and turned to face him. Anticipation usurped amusement’s place as Dagon stared down at her, waiting for her nightly hug. Perhaps tonight he would linger and— “Greetings, Eliana,” CC said in her serene voice. Blinking, she glanced over her shoulder, then up at the ceiling. “Hi, CC.” Dagon hid his amusement at her tendency to look up whenever she addressed the computer. “You have one communication awaiting your attention,” CC announced. Eliana looked at Dagon. “Is that like a phone message?” He considered his translator’s definition of PHONE. “Yes.” “Did YOU send it?” “No.” “Who did?” A good question. Who on this ship believed they knew Eliana well enough to message her privately? His brows drew down. “I don’t know.” “Maybe Anat has reconsidered giving me flight lessons.” He stared at her. After Dagon, Anat was the most experienced and highest-ranked fighter pilot on the ship. Dagon knew that most of the men stationed on the RANASURA thought their commander grim and foreboding. But Dagon appeared downright ebullient when compared to Anat. “You asked Anat to give you flight lessons?” To borrow one of Eliana’s Earth terms: that had been ballsy. “Yes.” She wrinkled her nose. “But he said no. The other pilots warned me he’d refuse, but I figured I’d give it a try anyway.” He tried to hold back his next question but failed. “Why didn’t you ask me?” Her brow furrowed. “You mean ask your permission? Was I supposed to do that first?” “No. Why didn’t you ask ME to give you flight lessons?” He understood her fierce drive to learn everything she possibly could that might aid her in the future but inwardly balked at the image of Eliana and Anat crowded together in a flight simulator. “Oh. Because you’re . . . you know.” She motioned to his uniform. “The commander. You run the ship. You have more important things to do.” She nibbled her lower lip. “Aaaaand I didn’t want to wear out my welcome.” Confused, he glanced down at the deck. “Why are you looking at my boots?” she asked. “According to my translator, WEAR OUT MY WELCOME means eroding through frequent use the surface of a mat with the word WELCOME printed on it that Earthlings place outside their doors.” She grinned. “Your translator got it wrong. Wear out my welcome means . . .” She shrugged. “I don’t know. Make a nuisance of myself, I guess. I’ve already insinuated myself into a significant portion of your day, Dagon.” Her smile dimmed a bit as uncertainty crept into her features. “I didn’t want you to get tired of having me around all the time.” So while he had sought any and every excuse to spend MORE time with her, she had worried he might want LESS? He took a step closer to her. “I believe the likelihood of that is nonexistent.” Her eyes dilated as his shadow fell over her. “Really?” she asked softly. “Really.

The four main factors you’ll want to investigate are: 1. Borrower’s credit: Look for whether they’re paying their bills regularly and on time, how much debt they have in relation to their income (the debt-to-income ratio, or DTI), and the status of the senior lien. 2. Borrower’s payment history: The longer someone has been making mortgage payments, the more likely they are to keep doing so; it demonstrates their commitment to the property. 3. Fair market value (FMV): Find the current FMV of the property, as it affects the equity (ownership stake) in the property; if the property has declined substantially, you may not be able to recover your investment if the borrower defaults. 4. Location: With real estate debt, geography matters for several reasons including state foreclosure laws, local demographics (which can affect future property values), and area economy.

As a physics major, before getting her hands dirty in New York, she had assumed that money is printed by a nation’s central bank, from where it is distributed to commercial banks. But while this is indeed how cash is created, cash accounts for only 3 per cent of all money. What of the remaining 97 per cent? Surprise and then foreboding were the reactions of every student to whom she had explained how the missing 97 per cent was created – and by whom: not by central banks but by commercial and investment bankers. At this point, her students would ask, ‘Without access to state-sanctioned printing presses, how do private bankers create money?’ ‘Simple,’ she would reply. ‘Every time a banker approves a loan of, say, one million dollars for Jack, a typical business customer, the banker just types 1,000,000 on Jack’s bank statement. However incredible it may seem, that’s all it takes. Bankers create money by granting loans by typing in some numbers!’ The crucial thing, she would explain, is that these numbers are typed into a shared database – or ledger – to which only the bankers have access. When their customers transfer this ‘money’ between them – when Jack transfers numbers from his account to the account of a supplier, say Jill, or of a builder, say Bob, or of a worker, say Kate, and when in turn, Jill, Bob and Kate transfer their numbers on, in the same way, to others to whom they owe money – these numbers simply migrate from one cell in the database to another. For this system to be sustainable, and not merely a pyramid scheme, there is a single condition: that, somewhere down the line, the one million dollars which some banker typed into existence on Jack’s behalf results in new goods and services whose total market value exceeds one million dollars. It is from this surplus that the banker takes his interest and Jack his profit. This is what Iris was referring to as a fool’s wager when she said that bankers plundered value from the future, or when Costa had once claimed that capitalism, like science fiction, trades in future assets using fictitious currency. It is in their nature that the wealthier bankers become by creating money, the more money they tend to create. The danger of such a system, of course, is that the banks end up typing into existence sums of money vastly larger than the market value of the goods and services created as a result of Jack, Jill, Bob and Kate’s endeavours. At the point when the bankers have collectively created money sums greater than the resulting values, the present can no longer repay the future for the money it borrowed from it. The moment Jack, Jill, Bob and Kate get a whiff of this, they may demand their bank balances in cash, sensing that the total value on the bankers’ database is lower than the actual value of their customers’ assets. ‘At that point, a bank run sets in,’ Eva would tell her students, ‘and that’s when the system comes crashing down.

Fanny’s Plan. Fanny was Hazel’s mother. Her plan was to use whatever methods she could to give the younger generation the means to start businesses and schooling, which in turn would guarantee they and their children would never face the challenges Fanny and her children faced growing up. And she didn’t care if she had to beg, borrow, or steal to accomplish that. Hazel marrying into the family of that rich Creole had been part of that plan. All the money made off the swindling, the gambling, and the other enterprises are ensuring the young have a future.