Emotional Bankruptcy Quotes

At that darkest moment, while drowning in the Abyss of Emotional Bankruptcy, reflect on this universal truth: the difference between success and failure is one more time.

Maybe you are in the Abyss of Emotional Bankruptcy looking for a way out, looking for the next rung in the ladder on your climb to the Peak of Happiness, or you may even be at the Peak of Happiness already, looking for a way to stay there. Wherever you are in life, this book is designed to give you the tools necessary to help you achieve your goals.

The danger we face does not come from religion. It comes from a growing intellectual bankruptcy that is one of the symptoms of a dying culture. In ancient Rome, as the republic disintegrated and the Caesars were deified, as the Roman Senate became little more than an echo chamber of the emperor, the population’s attention was diverted by a series of frontier wars and violent and elaborate spectacles in the arena. The excitement of entertainment consumed ancient Rome’s emotional and intellectual life. It poisoned civic and political discourse. Social critics no longer had a form in which to speak. They were answered with ridicule and rage. It was not prerogative of the citizen to think.

We can view a world order rushing toward collapse with no more concern than the outcome of a horse race; we can see injustice, crime, and misery in their most terrible forms all about us and, if we are not directly affected, register the emotions of a scientist studying white rats in a laboratory... In my opinion, this is a confession of complete moral and spiritual bankruptcy.

That abominable and sensual act called reading the newspaper,” wrote Proust, “thanks to which all the misfortunes and cataclysms in the universe over the last twenty-four hours, the battles which cost the lives of fifty-thousand men, the murders, the strikes, the bankruptcies, the fires, the poisonings, the suicides, the divorces, the cruel emotions of statesmen and actors, are transformed for us, who don’t even care, into a morning treat, blending in wonderfully, in a particularly exciting and tonic way, with the recommended ingestion of a few sips of café au lait.” Of

As I listened to him describing the scene of the procurer seducing the young girl, I found myself torn between two conflicting emotions, between a powerful desire to laugh and an overwhelming surge of indignation. I was in agony. Again and again a roar of laughter prevented my rage bursting forth; again and again the rage rising in my heart became a roar of laughter. I was dumbfounded by such shrewdness and such depravity; by such soundness of ideas alternating with such falseness; by so general a perversity of feeling, so total a corruption, and so exceptional a candour. He saw how agitated I was. 'What's the matter?' he asked. ME: Nothing. HIM: I think you're upset. ME: Indeed I am. HIM: So what do you think I should do? ME: Talk about something else. What a wretched fate, to have been born and to have fallen so low! HIM: I agree. But don't let my state affect you too much. In opening my heart to you, it was not my intention to upset you. I've managed to save a little, while I was with those people. Remember I wanted for nothing, nothing whatsoever, and they also made me a small allowance for incidentals. [Here he began to strike himself on the forehead with his fist, bite his lips, and roll his eyes like a lunatic, then he said:] What's done is done. I've put a bit aside. Time's passed, so I'm that much to the good. ME: You mean to the bad. HIM: No, to the good. Live one day less, or have an ecu more, it's all the same. The important thing is to open your bowels easily, freely, enjoyably, copiously, every evening; 'o stercus pretiosum!' That's the grand outcome of life in every condition. At the final moment, we're all equally rich - Samuel Bernard who by dint of theft, pillage, and bankruptcy leaves twenty-seven millions in gold, and Rameau who'll leave nothing, Rameau for whom charity will provide the winding-sheet to wrap him in.

There will be no funeral homes, no hospitals, no abortion clinics, no divorce courts, no brothels, no bankruptcy courts, no psychiatric wards, and no treatment centers. There will be no pornography, dial-a-porn, no teen suicide, no AIDS, no cancer, no talks shows, no rape, no missing children . . . no drug problems, no drive-by shootings, no racial tension, and no prejudice. There will be no misunderstandings, no injustice, no depression, no hurtful words, no gossip, no hurt feelings, no worry, no emptiness, and no child abuse. There will be no wars, no financial worries, no emotional heartaches, no physical pain, no spiritual flatness, no relational divisions, no murders, and no casseroles. There will be no tears, no suffering, no separations, no starvation, no arguments, no accidents, no emergency departments, no doctors, no nurses, no heart monitors, no rust, no perplexing questions, no false teachers, no financial shortages, no hurricanes, no bad habits, no decay, and no locks. We will never need to confess sin. Never need to apologize again. Never need to straighten out a strained relationship. Never have to resist Satan again. Never have to resist temptation. Never!

This ancient story is good and exemplary for boys. But what about girls? What is the modern story of a Prodigal Daughter? I picture her as an honor-roll high-school graduate turned wild party-girl expelled from college. Abandoned by her first love after an abortion, she sedated herself in a downward spiral of alcohol, drugs, and promiscuity. She bounced from one job to another, had an affair with a married man, and then left the country to escape disappointment and loss. Years later, lonely, weak from an eating disorder, and painfully aware of her emotional, physical, and spiritual bankruptcy, she returned to her father’s home to ask for forgiveness.6

From some sort of emotional bankruptcy, To some kind of steady growth. I am learning how to analyse, In order to understand them both.

The danger we face does not come from religion. It comes from a growing intellectual bankruptcy that is one of the symptoms of a dying culture. In ancient Rome, as the republic disintegrated and the Caesars were deified, as the Roman Senate became little more than an echo chamber of the emperor, the population’s attention was diverted by a series of frontier wars and violent and elaborate spectacles in the arena. The excitement of entertainment consumed ancient Rome’s emotional and intellectual life. It poisoned civic and political discourse. Social critics no longer had a forum in which to speak. They were answered with ridicule and rage. It was not prerogative of the citizen to think.

At Oaktree, we strongly reject the idea of waiting for the bottom to start buying. First, there’s absolutely no way to know when the bottom has been reached. There’s no neon sign that lights up. The bottom can be recognized only after it has been passed, since it is defined as the day before the recovery begins. By definition, this can be identified only after the fact. And second, it’s usually during market slides that you can buy the largest quantities of the thing you want, from sellers who are throwing in the towel and while the non-knife-catchers are hugging the sidelines. But once the slide has culminated in a bottom, by definition there are few sellers left to sell, and during the ensuing rally it’s buyers who predominate. Thus the selling dries up and would-be buyers face growing competition. We began to buy distressed debt immediately after Lehman filed for bankruptcy protection in mid-September 2008 as described on page 235, and we continued through year-end, as prices went lower and lower. By the first quarter of 2009, other investors had collected themselves, caught on to the values that were available, and gathered some capital for investment. But with the motivated sellers done selling and buying having begun, it was too late for them to buy in size without pushing up prices. Like so many other things in the investment world that might be tried on the basis of certitude and precision, waiting for the bottom to start buying is a great example of folly. So if targeting the bottom is wrong, when should you buy? The answer’s simple: when price is below intrinsic value. What if the price continues downward? Buy more, as now it’s probably an even greater bargain. All you need for ultimate success in this regard is (a) an estimate of intrinsic value, (b) the emotional fortitude to persevere, and (c) eventually to have your estimate of value proved correct.

Editorial Review: “Practical, positive money management strategies blend with bankruptcy-specific insights to give consumers a clear picture about how the process of financial recovery works. Anyone considering, in the midst of, or grappling with the aftermath of a bankruptcy should place Bankruptcy Didn't Break Me at the top of their reading list. It goes above and beyond most other guides on the topic, pairing the emotional with business angles in a manner that makes the subject digestible and thoroughly understandable.” . Donovan, Senior Reviewer, Midwest Book Review

Seen in this way, it represents a challenge of the grassroots to the elite, of popular to the official, of the weak to the strong... ...More than twenty years have passed since Tiananmen protests of 1989, and from today's perspective their greatest impact has been the lack of progress in reforming the political system. It's fair to say political reform was taking place in the 1980s, even if its pace was slower than that of economic reform. After Tiananmen, however, political reform ground to a halt, while economy began breakneck development. Because of this pradox we find ourselves in a reality full of contradictions: conservative here, radical there; the concentration of political power on this side, the unfettering of economic interests on that; dogmatism on the one hand, anarchism on hte other; toeing the line here, tossing away the rule book there. Over the past twenty years our development has been uneven rather than comprehensive, and this lopsided development is compromising the health of our society. It seems to me that the emergence - and unstoppable momentum - of the copycat phenomenon is an inevitable consequence of this lopsided development. The ubiquity and sharpness of social contradictions have provoked confusion in people's value systems and worldview, thus giving birth to the copycat effect, when all kinds of social emotions accumulate over time and find only limited channels of release, transmuted constantly into seemingly farcical acts of rebellion that have certain anti-authoritarian, anti-mainstream, and anti-monopoly elements. The force and scale of copycatting demonstrate that the whole nation has taken to it as a form of performance art.

That abominable and sensual act called reading the newspaper, thanks to which all the misfortunes and cataclysms in the universe over the last twenty-four hours, the battles which cost the lives of fifty-thousand men, the murders, the strikes, the bankruptcies, the fires, the poisonings, the suicides, the divorces, the cruel emotions of statesmen and actors, are transformed for us, who don’t even care, into a morning treat, blending in wonderfully, in a particularly exciting and tonic way, with the recommended ingestion of a few sips of café au lait.