Financially Weak Quotes

Emotional pain, physical damage, financial weakness are the reasons to stop for a while and not forever.

So many of my friends judged potential mates from the outside in, focusing first on their looks and financial prospects. If it turned out the person they'd chosen wasn't a good communicator or was uncomfortable with being vulnerable, they seemed to think time or marriage vows would fix the problem. But Barack arrived in my life a wholly formed person. From our very first conversation, he'd shown me that he wasn't self-conscious about expressing fear or weakness and that he valued being truthful.

The future has many names. For the weak, it’s unattainable. For the fearful, it’s unknown. For the bold, it’s ideal. —VICTOR HUGO

Albert Einstein said, “Great spirits have often encountered violent opposition from weak minds.

Social welfare is destroying the soul of America. Social programs are cancers growing within the spirit of the people they were created to serve. Social programs do not make people stronger. They keep people weak, depending on the government to solve their problems.

The idea that women should be kept weak, uneducated, and dependent on a man in ancient civilization was somewhat misinterpreted and misused, if they were referring to biblical support. In fact, in Ancient Israel women could own property. The Book of Proverbs describes an ideal woman as a woman who has the means and capacity to make financial and business decisions. It says 'she considers a field and buys it'. (Proverbs 31:16) - Raising A Strong Daughter: What Fathers Should Know by Finlay Gow JD and Kailin Gow MA

When other countries run sustained trade deficits, they must finance these by selling off domestic assets or running into debt — debt which they actually are obliged to pay. It seems that only the Americans are so bold as to say “Screw the world. We’re going to do whatever we want.” Other countries simply cannot afford the chaos from which the U.S. economy is positioned to withstand as a result of the fact that foreign trade plays a smaller role in its economy than in those of nearly all other nations in today’s interdependent world. Using debtor leverage to set the terms on which it will refrain from causing monetary chaos, America has turned seeming financial weakness into strength. U.S. Government debt has reached so large a magnitude that any attempt to replace it will entail an interregnum of financial chaos and political instability. American diplomats have learned that they are well positioned to come out on top in such grab-bags.

Great spirits have often encountered violent opposition from weak minds.

One thing I am sure of in my Total Money Makeover: I had to quit telling myself that I had innate discipline and fabulous natural self-control. That is a lie. I have to put systems and programs in place that make me do smart things. Saying, “Cross my fingers and hope to die, I promise, promise, promise I will pay extra on my mortgage because I am the one human on the planet who has that kind of discipline,” is kidding yourself. A big part of being strong financially is that you know where you are weak and take action to make sure you don’t fall prey to the weakness. And we ALL are weak. Sick

In the presence of the Unusual, Mr. Wooster is too prone to smile weakly and allow his eyes to protrude. He lacks Presence. I have often wished that I had the power to bestow upon him some of the savoir-faire of a former employer of mine, Mr. Montague-Todd, the well-known financier, now in the second year of his sentence.

Lehman Brothers’ Repo 105 program—which temporarily moved billions of dollars of liability off the bank’s books at the end of each quarter and replaced them a few days later at the start of the next quarter—was intentionally designed to hide the firm’s financial weaknesses. This was a carefully crafted fraud, detailed by a court-appointed Lehman examiner. But no former Lehman executive ever faced criminal prosecution for it. Contrast this with the fact that a teenager who sells an ounce of marijuana can be put away for years.

. It is important that we note the weaknesses in our financial system, and work toward implementing solutions before the next crisis comes. Gordon L. Eade

On the contrary, I’m too weak for it. I mean, everyone is, but I am especially susceptible to its false rewards, you know? It’s designed to addict you, to prey on your insecurities and use them to make you stay. It exploits everybody’s loneliness and promises us community, approval, friendship. Honestly, in that sense, social media is a lot like the Church of Scientology. Or QAnon. Or Charles Manson. And then on top of that—weaponizing a person’s isolation—it convinces every user that she is a minor celebrity, forcing her to curate some sparkly and artificial sampling of her best experiences, demanding a nonstop social performance that has little in common with her inner life, intensifying her narcissism, multiplying her anxieties, narrowing her worldview. All while commodifying her, harvesting her data, and selling it to nefarious corporations so that they can peddle more shit that promises to make her prettier, smarter, more productive, more successful, more beloved. And throughout all this, you have to act stupefied by your own good luck. Everybody’s like, Words cannot express how fortunate I feel to have met this amazing group of people, blah blah blah. It makes me sick. Everybody influencing, everybody under the influence, everybody staring at their own godforsaken profile, searching for proof that they’re lovable. And then, once you’re nice and distracted by the hard work of tallying up your failures and comparing them to other people’s triumphs, that’s when the algorithmic predators of late capitalism can pounce, enticing you to partake in consumeristic, financially irresponsible forms of so-called self-care, which is really just advanced selfishness. Facials! Pedicures! Smoothie packs delivered to your door! And like, this is just the surface stuff. The stuff that oxidizes you, personally. But a thousand little obliterations add up, you know? The macro damage that results is even scarier. The hacking, the politically nefarious robots, opinion echo chambers, fearmongering, erosion of truth, etcetera, etcetera. And don’t get me started on the destruction of public discourse. I mean, that’s just my view. Obviously to each her own. But personally, I don’t need it. Any of it.” Blandine cracks her neck. “I’m corrupt enough.

Sharon and I have a great marriage—not perfect, but great. Why? We read about marriage, we go to marriage retreat weekends, we date weekly, we sometimes take a Sunday school class on marriage, and we even meet once in a while with a friend who is a Christian marriage counselor. Do we do all these things because our marriage is weak? No, we do all these things to make our marriage great. We have a great marriage because we work at it, make it a priority, and seek knowledge on marriage. Great marriages don’t just happen. Wealth

There were at least three major contributing factors to this alienation: the relative political autonomy of provincial and city chiefs, the hubris China experienced after the 2008–2009 global financial crisis, and the relatively weak central leadership in the 2000s.

You cannot bring about prosperity by discouraging thrift. You cannot strengthen the weak by weakening the strong. You cannot help the wage earner by pulling down the wage payer. You cannot further the brotherhood of man by encouraging class hatred. You cannot help the poor by destroying the rich. You cannot keep out of trouble by spending more than you earn. You cannot build character and courage by taking away man’s initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves.

What makes a woman vulnerable to mistreatment at home, no matter how well she functions outside, is the belief that her need for her partner's love is the most important thing in her life. The prizes of success, financial gain, status, and prestige pale in comparison to that need. In addition, our true natures and weaknesses generally become obvious only in our intimate relationships. The faces we put on for the outside world may have little to do with how we feel about ourselves, how we expect to be treated, and what we will accept from our partners.

If you spend too much time working on your weaknesses, all you end up with is a lot of strong weaknesses!” This doesn’t give you a competitive edge in the marketplace or position you to be wealthy. It just keeps you average. In fact, it’s an absolute insult to your integrity to major in

Politicians have often declared that unbridled competition among financial intermediaries promotes failures that will harm the public. Although the evidence that competition does this is extremely weak, it has not stopped the state and federal governments from imposing many restrictive regulations.

In a move that will remain in Irish annals as a stigma comparable to the potato famine, the Dublin government succumbed to ECB blackmail: make the German creditors of Ireland’s commercial banks whole, even a bank that was closed down and thus no longer systemically important for Ireland’s financial sector, or else.

This is why you are told “Let the weak man say, ‘I am strong’.” (Joel 3:10), for by his assumption, the cause-substance — ‘I AM’ — is rearranged and must, therefore, manifest that which its rearrangement affirms. This principle governs every aspect of your life, be it social, financial, intellectual, or spiritual. ‘I AM’ is that reality to which, whatever happens, we must turn for an explanation of the phenomena of life. It is I AM’s concept of itself that determines the form and scenery of its existence. Everything depends upon its attitude towards itself; that which it will not affirm as true of itself cannot awaken in its world.

Canada is a preferred destination to launder ill-gotten gains with impunity. Numerous investigations that ultimately went nowhere have revealed weak legislation and an under-resourced enforcement regime that is manifestly not fit for purpose. Chances of getting caught are almost nil, civil and criminal asset forfeiture is weak, and penalties are negligible.

company and for similar companies in the same industry. • The percentage of institutional ownership. The lower the better. • Whether insiders are buying and whether the company itself is buying back its own shares. Both are positive signs. • The record of earnings growth to date and whether the earnings are sporadic or consistent. (The only category where earnings may not be important is in the asset play.) • Whether the company has a strong balance sheet or a weak balance sheet (debt-to-equity ratio) and how it’s rated for financial strength. • The cash position. With $16 in net cash, I know Ford is unlikely to drop below $16 a share. That’s the floor on the stock. SLOW GROWERS • Since you buy these for the dividends (why else would

Moral sense is almost completely ignored by modern society. We have, in fact, suppressed its manifestations. All are imbued with irresponsibility. Those who discern good and evil, who are industrious and provident, remain poor and are looked upon as morons. The woman who has several children, who devotes herself to their education, instead of to her own career, is considered weak-minded. If a man saves a little money for his wife and the education of his children, this money is stolen from him by enterprising financiers. Or taken by the government and distributed to those who have been reduced to want by their own improvidence and the shortsightedness of manufacturers, bankers, and economists. Artists and men of science supply the community with beauty, health, and wealth. They live and die in poverty. Robbers enjoy prosperity in peace. Gangsters are protected by politicians and respected by judges. They are the heroes whom children admire at the cinema and imitate in their games. A rich man has every right. He may discard his aging wife, abandon his old mother to penury, rob those who have entrusted their money to him, without losing the consideration of his friends. ...Ministers have rationalized religion. They have destroyed its mystical basis. But they do not succeed in attracting modern men. In their half-empty churches they vainly preach a weak morality. They are content with the part of policemen, helping in the interest of the wealthy to preserve the framework of present society. Or, like politicians, they flatter the appetites of the crowd.

Thus, by 1888 it had become evident that a national cooperative movement could not succeed in America, at least not in the absence of sustained, massive and violent attack on the wage-system, far more massive and well-organized than the Knights’ movement had been. As Henry Sharpe said, what they were doing was not realistic. Small workshops with little capital and obsolete machinery in an age of rapid industrialization; insufficient institution-building to give financial and material support to co-ops; enslavement to the market at a time when competitors would stop at nothing to suppress working-class moves toward independence. Especially with the weak leadership of Terence Powderly and the mass desertion of former Knights after 1886, as they lost strike after strike, the great dream of building a national cooperative economy was effectively over.

There had been in our country a riot of individualistic materialism, under which complete freedom for the individual—that ancient license which President Wilson a century after the term was excusable has called the "New" Freedom—turned out in practice to mean perfect freedom for the strong to wrong the weak. The total absence of governmental control had led to a portentous growth in the financial and industrial world both of natural individuals and of artificial individuals—that is, corporations. In no other country in the world had such enormous fortunes been gained. In no other country in the world was such power held by the men who had gained these fortunes; and these men almost always worked through, and by means of, the giant corporations which they controlled. The power of the mighty industrial overlords of the country had increased with giant strides, while the methods of controlling them, or checking abuses by them, on the part of the people, through the Government, remained archaic and therefore practically impotent.

third of the variants for success are simple competencies. These include, but are not limited to: Possessing a drive for results and being able to get results from others The ability to make decisions, including unpopular decisions Strategic agility when dealing with ambiguity A certain level of risk tolerance Financial acumen Critical thinking, which is an innate trait Tactical ability Perseverance Self-awareness, which includes the ability to work through your weaknesses and not have blind spots Interpersonal skills The

Speculators, meanwhile, have seized control of the global economy and the levers of political power. They have weakened and emasculated governments to serve their lust for profit. They have turned the press into courtiers, corrupted the courts, and hollowed out public institutions, including universities. They peddle spurious ideologies—neoliberal economics and globalization—to justify their rapacious looting and greed. They create grotesque financial mechanisms, from usurious interest rates on loans to legalized accounting fraud, to plunge citizens into crippling forms of debt peonage. And they have been stealing staggering sums of public funds, such as the $65 billion of mortgage-backed securities and bonds, many of them toxic, that have been unloaded each month on the Federal Reserve in return for cash.21 They feed like parasites off of the state and the resources of the planet. Speculators at megabanks and investment firms such as Goldman Sachs are not, in a strict sense, capitalists. They do not make money from the means of production. Rather, they ignore or rewrite the law—ostensibly put in place to protect the weak from the powerful—to steal from everyone, including their own shareholders. They produce nothing. They make nothing. They only manipulate money. They are no different from the detested speculators who were hanged in the seventeenth century, when speculation was a capital offense. The obscenity of their wealth is matched by their utter lack of concern for the growing numbers of the destitute. In early 2014, the world’s 200 richest people made $13.9 billion, in one day, according to Bloomberg’s billionaires index.22 This hoarding of money by the elites, according to the ruling economic model, is supposed to make us all better off, but in fact the opposite happens when wealth is concentrated in the hands of a few individuals and corporations, as economist Thomas Piketty documents in his book Capital in the Twenty-First Century.23 The rest of us have little or no influence over how we are governed, and our wages stagnate or decline. Underemployment and unemployment become chronic. Social services, from welfare to Social Security, are slashed in the name of austerity. Government, in the hands of speculators, is a protection racket for corporations and a small group of oligarchs. And the longer we play by their rules the more impoverished and oppressed we become. Yet, like

Now imagine if, instead of accidentally leaving open a loophole, the hackers behind WannaCry had designed the program to systematically learn about its own vulnerabilities and repeatedly patch them. Imagine if, as it attacked, the program evolved to exploit further weaknesses. Imagine that it then started moving through every hospital, every office, every home, constantly mutating, learning. It could hit life-support systems, military infrastructure, transport signaling, the energy grid, financial databases. As it spread, imagine the program learning to detect and stop further attempts to shut it down. A weapon like this is on the

A Sidewalker’s financial destination doesn’t exist. The plan is to have no plan. Surplus money is immediately spent on the next great gadget, the next trip, the next newer car, the next fashionable style, or the next hot fad. The Sidewalk’s siren song is instant gratification which can come from many addictive sources: junk food, shopping, video games, television, and smartphones. Money is disrespected like a hot potato that’s quickly exchanged for the latest fix of the week. Responsibility and accountability? Weak, or worse, absent. Moreover, “feelings” and quick dopamine hits are prioritized over logic and critical thinking, two skills needed for an extraordinary life.

For years, the suspicion that Mr. Putin has a secret fortune has intrigued scholars, industry analysts, opposition figures, journalists and intelligence agencies but defied their efforts to uncover it. Numbers are thrown around suggesting that Mr. Putin may control $40 billion or even $70 billion, in theory making him the richest head of state in world history. For all the rumors and speculation, though, there has been little if any hard evidence, and Gunvor has adamantly denied any financial ties to Mr. Putin and repeated that denial on Friday. But Mr. Obama’s response to the Ukraine crisis, while derided by critics as slow and weak, has reinvigorated a 15-year global hunt for Mr. Putin’s hidden wealth. Now, as the Obama administration prepares to announce another round of sanctions as early as Monday targeting Russians it considers part of Mr. Putin’s financial circle, it is sending a not-very-subtle message that it thinks it knows where the Russian leader has his money, and that he could ultimately be targeted directly or indirectly. “It’s something that could be done that would send a very clear signal of taking the gloves off and not just dance around it,” said Juan C. Zarate, a White House counterterrorism adviser to President George W. Bush who helped pioneer the government’s modern financial campaign techniques to choke off terrorist money.

You’re afraid you have no talent. You’re afraid you’ll be rejected or criticized or ridiculed or misunderstood or—worst of all—ignored. You’re afraid there’s no market for your creativity, and therefore no point in pursuing it. You’re afraid somebody else already did it better. You’re afraid everybody else already did it better. You’re afraid somebody will steal your ideas, so it’s safer to keep them hidden forever in the dark. You’re afraid you won’t be taken seriously. You’re afraid your work isn’t politically, emotionally, or artistically important enough to change anyone’s life. You’re afraid your dreams are embarrassing. You’re afraid that someday you’ll look back on your creative endeavors as having been a giant waste of time, effort, and money. You’re afraid you don’t have the right kind of discipline. You’re afraid you don’t have the right kind of work space, or financial freedom, or empty hours in which to focus on invention or exploration. You’re afraid you don’t have the right kind of training or degree. You’re afraid you’re too fat. (I don’t know what this has to do with creativity, exactly, but experience has taught me that most of us are afraid we’re too fat, so let’s just put that on the anxiety list, for good measure.) You’re afraid of being exposed as a hack, or a fool, or a dilettante, or a narcissist. You’re afraid of upsetting your family with what you may reveal. You’re afraid of what your peers and coworkers will say if you express your personal truth aloud. You’re afraid of unleashing your innermost demons, and you really don’t want to encounter your innermost demons. You’re afraid your best work is behind you. You’re afraid you never had any best work to begin with. You’re afraid you neglected your creativity for so long that now you can never get it back. You’re afraid you’re too old to start. You’re afraid you’re too young to start. You’re afraid because something went well in your life once, so obviously nothing can ever go well again. You’re afraid because nothing has ever gone well in your life, so why bother trying? You’re afraid of being a one-hit wonder. You’re afraid of being a no-hit wonder . . . Listen, I don’t have all day here, so I’m not going to keep listing fears. It’s a bottomless list, anyhow, and a depressing one. I’ll just wrap up my summary this way: SCARY, SCARY, SCARY. Everything is so goddamn scary. Defending Your Weakness Please understand that the only reason I can speak so authoritatively about fear is that I know it so intimately.

So…it wasn’t love at first sight then? With Dad? You fell in love later?” I don’t know why I feel disappointed. I don’t even believe in love at first sight. Except where it applies to my parents being perfect for each other. And anyways, isn’t that a kind of child-myth that all kids want to believe? “Sweetie…It was never love.” Screw disappointment. Now I feel gut-kicked. “What do you mean? But you had to…Then how did I…?” Mom sighs. “You were…the result of a moment of…weakness on my part.” But she takes too long to choose her words. I wonder what she thought of first, instead of “weakness.” Pity? Stupidity? She dabs her napkin at some imaginary syrup at the corner of her mouth. “The only weak moment we ever had, which is kind of extraordinary. Not that I regret it at all,” she says quickly. “I wouldn’t trade you for anything. You know that, right?” I wonder if “I wouldn’t trade you for anything” is also a child-myth. “So I was an accident. Not even the normal kind of accident. Like, a one-night stand, or a oops-I-didn’t-take-my-pill accident. I was an oops-I-accidentally-mated-with-my-first-experiment accident.” I put my head in my hands. “Lovely.” “That man loved you, Emma, from the moment you were born. He’d be very upset to hear you talking like that right now. Frankly, I am, too. I was not some experiment.” I bite my lip. “I know. It’s just…a lot, don’t you think?” “That’s why we’re going to have two pieces of strawberry pie, Agnes,” Mom says, her voice strained. I pull my stricken face from my hands and force it to smile. “Yes, please,” I say. I’m beginning to think Agnes isn’t a waitress for financial gain. I think she needs gossip to thrive. There’s no way a normal waitress would be or should be this attentive.

Similar declarations are to be found again and again, in Sumerian and later Babylonian and Assyrian records, and always with the same theme: the restoration of “justice and equity,” the protection of widows and orphans, to ensure—as Hammurabi was to put it when he abolished debts in Babylon in 1761 BC—“that the strong might not oppress the weak.”14 In the words of Michael Hudson, The designated occasion for clearing Babylonia’s financial slate was the New Year festival, celebrated in the spring. Babylonian rulers oversaw the ritual of “breaking the tablets,” that is, the debt records, restoring economic balance as part of the calendrical renewal of society along with the rest of nature. Hammurabi and his fellow rulers signaled these proclamations by raising a torch, probably symbolizing the sun-god of justice Shamash, whose principles were supposed to guide wise and fair rulers. Persons held as debt pledges were released to rejoin their families. Other debtors were restored cultivation rights to their customary lands, free of whatever mortgage liens had accumulated.15

The only word these corporations know is more,” wrote Chris Hedges, former correspondent for the Christian Science Monitor, National Public Radio, and the New York Times. They are disemboweling every last social service program funded by the taxpayers, from education to Social Security, because they want that money themselves. Let the sick die. Let the poor go hungry. Let families be tossed in the street. Let the unemployed rot. Let children in the inner city or rural wastelands learn nothing and live in misery and fear. Let the students finish school with no jobs and no prospects of jobs. Let the prison system, the largest in the industrial world, expand to swallow up all potential dissenters. Let torture continue. Let teachers, police, firefighters, postal employees and social workers join the ranks of the unemployed. Let the roads, bridges, dams, levees, power grids, rail lines, subways, bus services, schools and libraries crumble or close. Let the rising temperatures of the planet, the freak weather patterns, the hurricanes, the droughts, the flooding, the tornadoes, the melting polar ice caps, the poisoned water systems, the polluted air increase until the species dies. There are no excuses left. Either you join the revolt taking place on Wall Street and in the financial districts of other cities across the country or you stand on the wrong side of history. Either you obstruct, in the only form left to us, which is civil disobedience, the plundering by the criminal class on Wall Street and accelerated destruction of the ecosystem that sustains the human species, or become the passive enabler of a monstrous evil. Either you taste, feel and smell the intoxication of freedom and revolt or sink into the miasma of despair and apathy. Either you are a rebel or a slave. To be declared innocent in a country where the rule of law means nothing, where we have undergone a corporate coup, where the poor and working men and women are reduced to joblessness and hunger, where war, financial speculation and internal surveillance are the only real business of the state, where even habeas corpus no longer exists, where you, as a citizen, are nothing more than a commodity to corporate systems of power, one to be used and discarded, is to be complicit in this radical evil. To stand on the sidelines and say “I am innocent” is to bear the mark of Cain; it is to do nothing to reach out and help the weak, the oppressed and the suffering, to save the planet. To be innocent in times like these is to be a criminal.

Honorable, happy, and successful marriage is surely the principal goal of every normal person. Marriage is perhaps the most vital of all the decisions and has the most far-reaching effects, for it has to do not only with immediate happiness, but also with eternal joys. It affects not only the two people involved, but also their families and particularly their children and their children’s children down through the many generations. In selecting a companion for life and for eternity, certainly the most careful planning and thinking and praying and fasting should be done to be sure that of all the decisions, this one must not be wrong. In true marriage there must be a union of minds as well as of hearts. Emotions must not wholly determine decisions, but the mind and the heart, strengthened by fasting and prayer and serious consideration, will give one a maximum chance of marital happiness. It brings with it sacrifice, sharing, and a demand for great selflessness. . . . Some think of happiness as a glamorous life of ease, luxury, and constant thrills; but true marriage is based on a happiness which is more than that, one which comes from giving, serving, sharing, sacrificing, and selflessness. . . . One comes to realize very soon after marriage that the spouse has weaknesses not previously revealed or discovered. The virtues which were constantly magnified during courtship now grow relatively smaller, and the weaknesses which seemed so small and insignificant during courtship now grow to sizable proportions. The hour has come for understanding hearts, for self-appraisal, and for good common sense, reasoning, and planning. . . . “Soul mates” are fiction and an illusion; and while every young man and young woman will seek with all diligence and prayerfulness to find a mate with whom life can be most compatible and beautiful, yet it is certain that almost any good man and any good woman can have happiness and a successful marriage if both are willing to pay the price. There is a never-failing formula which will guarantee to every couple a happy and eternal marriage; but like all formulas, the principal ingredients must not be left out, reduced, or limited. The selection before courting and then the continued courting after the marriage process are equally important, but not more important than the marriage itself, the success of which depends upon the two individuals—not upon one, but upon two. . . . The formula is simple; the ingredients are few, though there are many amplifications of each. First, there must be the proper approach toward marriage, which contemplates the selection of a spouse who reaches as nearly as possible the pinnacle of perfection in all the matters which are of importance to the individuals. And then those two parties must come to the altar in the temple realizing that they must work hard toward this successful joint living. Second, there must be a great unselfishness, forgetting self and directing all of the family life and all pertaining thereunto to the good of the family, subjugating self. Third, there must be continued courting and expressions of affection, kindness, and consideration to keep love alive and growing. Fourth, there must be a complete living of the commandments of the Lord as defined in the gospel of Jesus Christ. . . . Two individuals approaching the marriage altar must realize that to attain the happy marriage which they hope for they must know that marriage is not a legal coverall, but it means sacrifice, sharing, and even a reduction of some personal liberties. It means long, hard economizing. It means children who bring with them financial burdens, service burdens, care and worry burdens; but also it means the deepest and sweetest emotions of all. . . . To be really happy in marriage, one must have a continued faithful observance of the commandments of the Lord. No one, single or married, was ever sublimely happy unless he was righteous.

Soon all humane people would understand the need for a revolution from below, where those who worked and struggled and produced would be the ruling class. Those with eyes to see could detect this with ease, while those whose eyes had yet to be opened could always… well, it was thought that events would also assist in persuading them. I realize that this may sound slightly as if I had joined a cult. There actually was a rival Trotskyist group, later to make itself notorious by recruiting Corin and Vanessa Redgrave, whose depraved “leader” Gerry Healy did in fact teach us all we needed to learn about cultism and the mental and sexual and financial exploitation of the young and the credulous. (I learned a lot about “faith-based” movements from this early instruction.) But the “I.S.,” as our group was known, had a relaxed and humorous internal life and also a quizzical and critical attitude to the “Sixties” mindset. We didn’t grow our hair too long, because we wanted to mingle with the workers at the factory gate and on the housing estates. We didn’t “do” drugs, which we regarded as a pathetic, weak-minded escapism almost as contemptible as religion (as well as a bad habit which could expose us to a “plant” from the police). Rock and roll and sex were OK. Looking back, I still think we picked the right options.

Contempt is born when we fixate on our spouse’s weaknesses. Every spouse has these sore points. If you want to find them, without a doubt you will. If you want to obsess about them, they’ll grow – but you won’t! Jesus provides a remedy that is stunning in its simplicity yet foreboding in its difficulty. He tells us to take the plank out of our own eye before we try to remove the speck from our neighbor’s eye (see Matthew 7:3–5). If you’re thinking “but my spouse is the one who has the plank,” allow me to let you in on a secret: You’re exactly the type of person Jesus is talking to. You’re the one He wanted to challenge with these words. Jesus isn’t helping us resolve legal matters here; He’s urging us to adopt humble spirits. He wants us to cast off the contempt – to have contempt for the contempt – and learn the spiritual secret of respect. Consider the type of people Jesus loved in the days He walked on earth – Judas (the betrayer); the woman at the well (a sexual libertine); Zacchaeus (the conniving financial cheat); and many others like them. In spite of the fact that Jesus was without sin and these people were very much steeped in sin, Jesus still honored them. He washed Judas’s feet; He spent time talking respectfully to the woman at the well; He went to Zacchaeus’s house for dinner. Jesus, the only perfect human being to live on this earth, moved toward sinful people; He asks us to do the same, beginning with the one closest to us – our spouse.

Most forms of private vice and public evil are kindled by sustained lies. Acts of adultery and other personal betrayals, financial fraud, government corruption--even murder and genocide--generally require an additional moral defect: a willingness to lie. Lying is, almost by definition, a refusal to cooperate with others. It condenses a lack of trust and trustworthiness into a single act. It is both a failure of understanding and an unwillingness to be understood. To lie is to recoil from relationship. By lying, we deny others our view of the world. And our dishonesty not only influences the choices they make, it often determines the choices they *can* make--in ways we cannot always predict. Every lie is an assault on the autonomy of those we lie to. By lying to one person, we potentially spread falsehoods to many others--even to whole societies. We also force upon ourselves subsequent choices--to maintain the deception or not--than can complicate our lives. In this way, every lie haunts our future. We can't tell when or how it might collide with reality, requiring further maintenance. The truth never needs to be tended like this. It can simply be reiterated. The lies of the powerful lead us to distrust governments and corporations. The lies of the weak make us callous toward the suffering of others. The lies of conspiracy theorists raise doubts about the honesty of whistle-blowers, even when they are telling the truth. Lies are the social equivalent of toxic waste: Everyone is potentially harmed by their spread.

KEYNESIAN ECONOMICS AND STIMULUS Keynesian economics is based on the notion that unemployment arises when total or aggregate demand in an economy falls short of the economy’s ability to supply goods and services. When products go unsold, jobs are lost. Aggregate demand, in turn, comes from two sources: the private sector (which is the majority) and the government. At times, aggregate demand is too buoyant—goods fly off the shelves and labor is in great demand—and we get rising inflation. At other times, aggregate demand is inadequate—goods are hard to sell and jobs are hard to find. In those cases, Keynes argued in the 1930s, governments can boost employment by cutting interest rates (what we now call looser monetary policy), raising their own spending, or cutting people’s taxes (what we now call looser fiscal policy). By the same logic, when there is too much demand, governments can fight actual or incipient inflation by raising interest rates (tightening monetary policy), increasing taxes, or reducing its own spending (thus tightening fiscal policy). That’s part of standard Keynesian economics, too, although Keynes, writing during the Great Depression, did not emphasize it. Setting aside the underlying theory, the central Keynesian policy idea is that the government can—and, Keynes argued, should—act as a kind of balance wheel, stimulating aggregate demand when it’s too weak and restraining aggregate demand when it’s too strong. For decades, American economists took for granted that most of that job should and would be done by monetary policy. Fiscal policy, they thought, was too slow, too cumbersome, and too political. And in the months after the Lehman Brothers failure, the Federal Reserve did, indeed, pull out all the stops—while fiscal policy did nothing. But what happens when, as was more or less the case by December 2008, the central bank has done almost everything it can, and yet the economy is still sinking? That’s why eyes started turning toward Congress and the president—that is, toward fiscal stimulus—after the 2008 election.

The National Socialist Movement has, besides its delivery from the Jewishcapitalist shackles imposed by a plutocratic-democratic, dwindling class of exploiters at home, pronounced its resolve to free the Reich from the shackles of the Diktat of Versailles abroad. The German demands for a revision were an absolute necessity, a matter of course for the existence and the honor of any great people. Posterity will some day come to regard them as exceedingly modest. All these demands had to be carried through, in practice against the will of the British French potentates. Now more than ever we all see it as a success of the leadership of the Third Reich that the realization of these revisions was possible for years without resort to war. This was not the case-as the British and French demagogues would have it-because we were not then in a position to wage war. When it finally appeared as though, thanks to a gradually awakening common sense, a peaceful resolution of the remaining problems could be reached through international cooperation, the agreement concluded in this spirit on September 29, 1938, at Munich by the four great states predominantly involved, was not welcomed by public opinion in London and Paris, but was condemned as a despicable sign of weakness. The Jewish capitalist warmongers, their hands covered with blood, saw in the possible success of such a peaceful revision the vanishing of plausible grounds for the realization of their insane plans. Once again that conspiracy of pitiful, corrupt political creatures and greedy financial magnates made its appearance, for whom war is a welcome means to bolster business. The international Jewish poison of the peoples began to agitate against and to coroode healthy minds. Men of letters set out to portray decent men who desired peace as weaklings and traitors, to denounce opposition parties as a “fifth column,” in order to eliminate internal resistance to their criminal policy of war. Jews and Freemasons, armament industrialists and war profiteers, international traders and stockjobbers, found political blackguards: desperados and glory seekers who represented war as something to be yearned for and hence wished for. Adolf Hitler - speech to the Reichstag Berlin, July 19, 1940

I don't have social media" "Oh right." He rolls his eyes. "Too good for all that." She shakes her head. "Not at all. On the contrary, I'm too weak for it. I mean, everyone is, but I am especially susceptible to its false rewards, you know? It's designed to addict you, to prey on your insecurities and use them to make you stay. It exploits everybody's loneliness and promises us a community, approval, friendship. Honestly, in that sense, social media is a lot like the Church of Scientology. Or QAnon. Or Charles Manson. And then on top of that - weaponizing a person's isolation - it convinces every user that she is a minor celebrity, forcing her to curate some sparkly and artificial sampling of her best experiences, demanding a nonstop social performance that has little in common with her inner life, intensifying her narcissism, multiplying her anxieties, narrowing her worldview. All while commodifying her, harvesting her data, and selling it to nefarious corporations so that they can peddle more shit that promises to make her prettier, smarter, more productive, more successful, more beloved. And throughout all this, you have to act stupefied by your own good luck. Everybody's like 'words cannot express how fortunate I feel to have met this amazing group of people,' blah blah blah. It makes me sick. Everybody's influencing, everybody under the influence, everybody staring at their own godforsaken profile, searching for proof that they're lovable. And then, once you're nice and distracted by the hard work of tallying up your failures and comparing them to other people's triumphs, that's when the algorithmic predators of late capitalism can pounce, enticing you to partake in consumeristic, financially irresponsible forms of so-called self-care, which is really just advanced selfishness. Facials! Pedicures! Smoothie packs delivered to your door! And like, this is just the surface stuff. The stuff that oxidizes you, personally. But a thousand little obliterations add up, you know? The macro damage that results is even scarier. The hacking, the politically nefarious robots, opinion echo chambers, fearmongering, erosion of truth, etcetera, etcetera. And don't get m e started on the destruction of public discourse. I mean, that's just my view. Obviously to each her own. But personally, I don't need it. Any of it." Blandine cracks her neck. "I'm corrupt enough.

Was this luck, or was it more than that? Proving skill is difficult in venture investing because, as we have seen, it hinges on subjective judgment calls rather than objective or quantifiable metrics. If a distressed-debt hedge fund hires analysts and lawyers to scrutinize a bankrupt firm, it can learn precisely which bond is backed by which piece of collateral, and it can foresee how the bankruptcy judge is likely to rule; its profits are not lucky. Likewise, if an algorithmic hedge fund hires astrophysicists to look for patterns in markets, it may discover statistical signals that are reliably profitable. But when Perkins backed Tandem and Genentech, or when Valentine backed Atari, they could not muster the same certainty. They were investing in human founders with human combinations of brilliance and weakness. They were dealing with products and manufacturing processes that were untested and complex; they faced competitors whose behaviors could not be forecast; they were investing over long horizons. In consequence, quantifiable risks were multiplied by unquantifiable uncertainties; there were known unknowns and unknown unknowns; the bracing unpredictability of life could not be masked by neat financial models. Of course, in this environment, luck played its part. Kleiner Perkins lost money on six of the fourteen investments in its first fund. Its methods were not as fail-safe as Tandem’s computers. But Perkins and Valentine were not merely lucky. Just as Arthur Rock embraced methods and attitudes that put him ahead of ARD and the Small Business Investment Companies in the 1960s, so the leading figures of the 1970s had an edge over their competitors. Perkins and Valentine had been managers at leading Valley companies; they knew how to be hands-on; and their contributions to the success of their portfolio companies were obvious. It was Perkins who brought in the early consultants to eliminate the white-hot risks at Tandem, and Perkins who pressed Swanson to contract Genentech’s research out to existing laboratories. Similarly, it was Valentine who drove Atari to focus on Home Pong and to ally itself with Sears, and Valentine who arranged for Warner Communications to buy the company. Early risk elimination plus stage-by-stage financing worked wonders for all three companies. Skeptical observers have sometimes asked whether venture capitalists create innovation or whether they merely show up for it. In the case of Don Valentine and Tom Perkins, there was not much passive showing up. By force of character and intellect, they stamped their will on their portfolio companies.

extent, Polly Lear took Fanny Washington’s place: she was a pretty, sociable young woman who became Martha’s closest female companion during the first term, at home or out and about, helping plan her official functions. The Washingtons were delighted with the arrival of Thomas Jefferson, a southern planter of similar background to themselves, albeit a decade younger; if not a close friend, he was someone George had felt an affinity for during the years since the Revolution, writing to him frequently for advice. The tall, lanky redhead rented lodgings on Maiden Lane, close to the other members of the government, and called on the president on Sunday afternoon, March 21. One of Jefferson’s like-minded friends in New York was the Virginian James Madison, so wizened that he looked elderly at forty. Madison was a brilliant parliamentary and political strategist who had been Washington’s closest adviser and confidant in the early days of the presidency, helping design the machinery of government and guiding measures through the House, where he served as a representative. Another of Madison’s friends had been Alexander Hamilton, with whom he had worked so valiantly on The Federalist Papers. But the two had become estranged over the question of the national debt. As secretary of the Treasury, Hamilton was charged with devising a plan to place the nation’s credit on a solid basis at home and abroad. When Hamilton presented his Report on the Public Credit to Congress in January, there was an instant split, roughly geographic, north vs. south. His report called for the assumption of state debts by the nation, the sale of government securities to fund this debt, and the creation of a national bank. Washington had become convinced that Hamilton’s plan would provide a strong economic foundation for the nation, particularly when he thought of the weak, impoverished Congress during the war, many times unable to pay or supply its troops. Madison led the opposition, incensed because he believed that dishonest financiers and city slickers would be the only ones to benefit from the proposal, while poor veterans and farmers would lose out. Throughout the spring, the debate continued. Virtually no other government business got done as Hamilton and his supporters lobbied fiercely for the plan’s passage and Madison and his followers outfoxed them time and again in Congress. Although pretending to be neutral, Jefferson was philosophically and personally in sympathy with Madison. By April, Hamilton’s plan was voted down and seemed to be dead, just as a new debate broke out over the placement of the national capital. Power, prestige, and a huge economic boost would come to the city named as capital. Hamilton and the bulk of New Yorkers and New Englanders

Marx discovered the significance of economic power; and it is understandable that he exaggerated its status. He and the Marxists see economic power everywhere. Their argument runs: he who has the money has the power; for if necessary, he can buy guns and even gangsters. But this is a roundabout argument. In fact, it contains an admission that the man who has the gun has the power. And if he who has the gun becomes aware of this, then it may not be long until he has both the gun and the money. But under an unrestrained capitalism, Marx’s argument applies, to some extent; for a rule which develops institutions for the control of guns and gangsters but not of the power of money is liable to come under the influence of this power. In such a state, an uncontrolled gangsterism of wealth may rule. But Marx himself, I think, would have been the first to admit that this is not true of all states; that there have been times in history when, for example, all exploitation was looting, directly based upon the power of the mailed fist. And to-day there will be few to support the naïve view that the ‘progress of history’ has once and for all put an end to these more direct ways of exploiting men, and that, once formal freedom has been achieved, it is impossible for us to fall again under the sway of such primitive forms of exploitation. These considerations would be sufficient for refuting the dogmatic doctrine that economic power is more fundamental than physical power, or the power of the state. But there are other considerations as well. As has been rightly emphasized by various writers (among them Bertrand Russell and Walter Lippmann25), it is only the active intervention of the state—the protection of property by laws backed by physical sanctions—which makes of wealth a potential source of power; for without this intervention, a man would soon be without his wealth. Economic power is therefore entirely dependent on political and physical power. Russell gives historical examples which illustrate this dependence, and sometimes even helplessness, of wealth: ‘Economic power within the state,’ he writes26, ‘although ultimately derived from law and public opinion, easily acquires a certain independence. It can influence law by corruption and public opinion by propaganda. It can put politicians under obligations which interfere with their freedom. It can threaten to cause a financial crisis. But there are very definite limits to what it can achieve. Cæsar was helped to power by his creditors, who saw no hope of repayment except through his success; but when he had succeeded he was powerful enough to defy them. Charles V borrowed from the Fuggers the money required to buy the position of Emperor, but when he had become Emperor he snapped his fingers at them and they lost what they had lent.’ The dogma that economic power is at the root of all evil must be discarded. Its place must be taken by an understanding of the dangers of any form of uncontrolled power. Money as such is not particularly dangerous. It becomes dangerous only if it can buy power, either directly, or by enslaving the economically weak who must sell themselves in order to live.

physical, mental, and financial collapse had had its roots in years of weakness and self-indulgence. Near financial ruin rarely came overnight.

I don’t fight battles by penning words or crafting syntax designed to bring people to tears by liberating their hearts or calling out their souls. Nor do I fight them by sitting with untold thousands and granting them counsel in the darkness of their darkest hours. No. Rather, I fight them prone on my knees in morning’s darkness before the sun has roused a wounded world awake to feel its pain yet again. I fight them throughout the day as I “pray without ceasing” because troubles befall us without ceasing. I fight them by praying for the impossible in lives devastated beyond redemption, for rogue nations that spread destruction as though destroying life was the answer to life, for the weak who stand teetering precariously on some emotional or relational or financial abyss, and for an impossible number of situations that everyone else has deemed as impossible. I fight in prayer. And despite the massive weaponry available to mankind, I am utterly convinced that a single man on his knees in humble petition before God exceeds the armament of all the world’s nations combined. This is what I believe. And therefore, this is how I fight.

The weakness of the existing system had been evident during the financial crisis when the Wall Street bank Morgan Stanley needed a $9 billion infusion from a Japanese firm. The agreement was reached on a Sunday, but the money could not be sent because the wire network was down for the weekend and the next day was Columbus Day. It turned out that even banks couldn’t send each other money on holidays. In order to get around this, the Japanese bank cut an absurd $9 billion paper check. With

The weakness of the existing system had been evident during the financial crisis when the Wall Street bank Morgan Stanley needed a $9 billion infusion from a Japanese firm. The agreement was reached on a Sunday, but the money could not be sent because the wire network was down for the weekend and the next day was Columbus Day. It turned out that even banks couldn’t send each other money on holidays. In order to get around this, the Japanese bank cut an absurd $9 billion paper

You have to know your chosen corporations well. Identify their strengths and weaknesses. If these corporations suffer financially, your money will disappear into thin air.

Many organizations we encounter lament their spreadsheet-driven culture. Every department has its own mechanism for gathering, analyzing, and reporting on its unique data. No consistent “source of truth” exists and data analysts become indispensable because they are the only people in the organization who know how a financial model works, how to access and understand the data sources, and its strengths and weaknesses. People in these organizations wish for a technology solution that could bring all the information together and make it available to all decision makers in interactive, visual dashboards.

Marcus succumbed in weakness to Stella's demands and surrendered to her desires, since her mother left he'd tried to appease and please her with financial satisfaction to relieve his guilt for neglecting them both but it was difficult. Stella was difficult.

The damaging influence and weakness of the parliamentary form of government soon became apparent. . . . The participation of the people exists only on paper. In reality, career politicians get regularly elected to parliament though various parties they founded. They have made a novel occupation out of this activity. As has long become apparent, they focus not on the welfare of the people and of the state, but on their personal interests or certain financial circles standing behind them.

Keen to bring about a cease-fire, on November 6, Election Day, Eisenhower unleashed an impassioned campaign of personal diplomacy aimed mostly at Whitehall. But it was old-fashioned power politics that enabled him to get the job done. He mobilized world opinion against England and France through the UN Security Council—an embarrassing project that placed him in alignment with his Soviet counterparts against his lifelong friends. Ike knew his best play was to exploit Britain’s fiscal weakness, which was driving Prime Minister Eden’s notably deteriorating domestic political situation. Britain was running out of financial reserves. Refusing to repatriate dollars that Britain had supplied to the International Monetary Fund, Eisenhower muscled Great Britain into

Financially smart people take loans even if they can afford, to save money. Financially weak people take loans knowing that they can't afford, to spend money!

The kings, who are the most set on destroying the feudal baronies, are also the best friends of the merchants, the bankers and the master manufacturers. A shipowner is not the chieftain of a gang of sailors whom he abstracts from Power's clutch, but rather an employer of labour who on the contrary, makes them available to power when the time comes for it to require them; In this way, it is explained the favour shown by Francis I, to take one instance towards, Ango. A banker is not after political power - he is after wealth. His function is to build a sort of store-house on which, when the when the time is ripe, Power will draw to transmute this wealth into strength. A mercantile aristocracy, then, so far from abstracting anything from the state's resources, makes potential additions to them which will, when circumstances so require, be realized. This is the only aspect under which, for many years, Power saw the money power. But in the end the overthrow of every other social domination of whatever kind left financial domination master of the field. At that stage it was seemed to be the formative source of fresh cells. That showed itself clearly enough in the case of the industrial employers. Not only was the employer the law in his factory, but quite often he would put up nearby a township for his workers in which he had the position of prince. A point was reached at some of the states of the USA, at which the manufacturer, owning as he did the land on which the factory had been built, allowed on it no other police than his own. In its jealousy of any and every command, however small, which was not its own, Power could not tolerate such independence. Moreover, as in every other battle which it had fought with aristocratic formations, it soon found itself appealed to by the underlings. Then it made its way not only into the employer's township but into his workshop as well; there it introduced its own law, its own police and its own factory regulations. If its earlier aggressions against closed aristocratic formations were not our old friends, we might be tempted to see in this one nothing more than a result of the popular character of the modern state, and of socialist ideas. These factors played, no doubt, their part, but no more was needed, than that Power should be itself - a thing naturally tending to shut out the intervention of all other authorities. The financial cell is less visible to the eye than the industrial cell. But its hold on money, and above all by its disposal of vast amounts of private savings, finance has been able to build up a vast structure and impose on the ever growing number of its subjects and authority which is ever plainer on the planer to the view on the empires of finance, also, power made war. The signal for battle was not given by a socialist state, the natural enemy of the barons of capital. It came from Theodore Roosevelt, himself a man of Power, and therefore the enemy of all private authorities. In this way, a new alliance was sealed - an alliance no less natural than that of the Power of early days with the prisoners of the clan-cells, than that of the monarchy with the subjects of the feudal barons - that of the modern state with the men exploited by capitalist industry, with the men dominated by the financial trusts. The state has often waged this particular war half-heartedly, thereby making the extent to which it has turned its back on itself and has renounced its role of Power. And renunciation was in this case favoured by the internal weakness of modern Power; the precariousness of its tenure encouraged its phantom tenants to betray it in favor of the financial aristocracies. But Power has natural charms for those who desire it for its use. It was a certain that anti-capitalists would come to occupy the public offices of the bourgeois state, as it was certain that anti-feudalists would come to occupy those of the monarchial state.

In “The Accounting” chapter, we’ll discuss why the #2 weakness of growing companies is the lack of sufficient financial data.

Financial planning without life insurance (risk management plan) is a weak financial plan. It will not stand the test of time.

Now in his forties, Ivar had become a creature of habit and discipline. He was anxious not to become fat, so he ate little throughout the day. Ivar preferred vegetarian dishes, especially fruit. He rarely drank alcohol, and never at lunch, though he was capable of consuming large amounts of vodka, usually without the slightest sign of being drunk. Ivar didn’t smoke in the apartment either. He was a highly disciplined man, his one weakness being a fondness for sweet things, especially jams, marmalades, and all kinds of desserts, which he rarely kept at home.

your Achilles’ heel will be that you have a blind spot for weak people who are sycophants.

None of those instruments will be powerful enough alone, and weakness in any of them will undermine the effectiveness of the others.

Wall Street’s troubles instantaneously infected the City of London. Thus the Anglosphere went from financial supremacy to global basket case. Officials in Brussels, Paris, Frankfurt and Berlin rejoiced, confident that the “Anglos,” who had been lecturing them regarding the flimsiness of Europe’s monetary union and social market model, had got their comeuppance. Until, that is, they realized that Germany’s and France’s banks were in a state worse than Lehman’s, with their asset books weighed down with US-sourced derivatives that had lost 99 percent of their value.

His strengths were my weaknesses, with his patience balancing my impatience.

Plague = Global Capitalism: a Darwinian force that cannot be stopped; it seeps into every nation, discarding the weak, selecting the strong. Orchid = Central Bank stimulus: easy money, a false cure that never solves the root causes, only suppresses symptoms, prolonging the agony. Current outbreak = Like another Global Financial Crisis: uncontainable, incurable, irreversible. Inevitable.

I don’t have social media.” “Oh, right.” He rolls his eyes. “Too good for all that.” She shakes her head. “Not at all. On the contrary, I’m too weak for it. I mean, everyone is, but I am especially susceptible to its false rewards, you know? It’s designed to addict you, to prey on your insecurities and use them to make you stay. It exploits everybody’s loneliness and promises us community, approval, friendship. Honestly, in that sense, social media is a lot like the Church of Scientology. Or QAnon. Or Charles Manson. And then on top of that—weaponizing a person’s isolation—it convinces every user that she is a minor celebrity, forcing her to curate some sparkly and artificial sampling of her best experiences, demanding a nonstop social performance that has little in common with her inner life, intensifying her narcissism, multiplying her anxieties, narrowing her worldview. All while commodifying her, harvesting her data, and selling it to nefarious corporations so that they can peddle more shit that promises to make her prettier, smarter, more productive, more successful, more beloved. And throughout all this, you have to act stupefied by your own good luck. Everybody’s like, Words cannot express how fortunate I feel to have met this amazing group of people, blah blah blah. It makes me sick. Everybody influencing, everybody under the influence, everybody staring at their own godforsaken profile, searching for proof that they’re lovable. And then, once you’re nice and distracted by the hard work of tallying up your failures and comparing them to other people’s triumphs, that’s when the algorithmic predators of late capitalism can pounce, enticing you to partake in consumeristic, financially irresponsible forms of so-called self-care, which is really just advanced selfishness. Facials! Pedicures! Smoothie packs delivered to your door! And like, this is just the surface stuff. The stuff that oxidizes you, personally. But a thousand little obliterations add up, you know? The macro damage that results is even scarier. The hacking, the politically nefarious robots, opinion echo chambers, fearmongering, erosion of truth, etcetera, etcetera. And don’t get me started on the destruction of public discourse. I mean, that’s just my view. Obviously to each her own. But personally, I don’t need it. Any of it.” Blandine cracks her neck. “I’m corrupt enough.

The payments system is the heart of the financial services industry, and most people who work in banking are engaged in servicing payments. But this activity commands both low priority and low prestige within the industry. Competition between firms generally promotes innovation and change, but a bank can gain very little competitive advantage by improving its payment systems, since the customer experience is the result more of the efficiency of the system as a whole than of the efficiency of any individual bank. Incentives to speed payments are weak. Incrementally developed over several decades, the internal systems of most banks creak: it is easier, and implies less chance of short-term disruption, to add bits to what already exists than to engage in basic redesign. The interests of the leaders of the industry have been elsewhere, and banks have tended to see new technology as a means of reducing costs rather than as an opportunity to serve consumer needs more effectively. Although the USA is a global centre for financial innovation in wholesale financial markets, it is a laggard in innovation in retail banking, and while Britain scores higher, it does not score much higher. Martin Taylor, former chief executive of Barclays (who resigned in 1998, when he could not stop the rise of the trading culture at the bank), described the state of payment systems in this way: ‘the systems architecture at the typical big bank, especially if it has grown through merger and acquisition, has departed from the Palladian villa envisaged by its original designers and morphed into a gothic house of horrors, full of turrets, broken glass and uneven paving.

He could have disembarked in one of the world's greatest cities. People would have said, "Right time, right place, look what fate can do." He could have been born into a billionaire financial dynasty. People would have said, "Look what money can do." He could have been the child of an earthly emperor. People would have said, "Look what political power can do." He could have come by way of a celebrity family. People would have said, "Look what fame can do." Instead, he stepped into poverty, weakness, and obscurity, and all we're left to say is, "Look what God can do.

The usual place to stand is in the existing set of constraints, issues, and opportunities that confront the organization…. Using this approach, managers typically conduct a financial and organizational analysis, identify what opportunities and threats exist, what strengths and weaknesses the organization has, and then formulate a strategy that is intended to exploit the opportunities and minimize or eliminate the threats…. The boat is patched but it is still the same boat and most likely will only continue on the old course at about the same velocity or a little faster…. Our recommended approach is to stand in a future that is not directly derived from present conditions and circumstances…. Although the future is informed by the past, it is as “past-free” as possible…. When I say the future is “past-free,” I mean that the future should not be an extrapolation, extension, or modification of the past.

As after any revolution, purists were vigilant for signs of ideological backsliding and departures from the one true faith. The 1780s and 1790s were to be especially rich in feverish witch hunts for traitors who allegedly sought to reverse the verdict of the war. For the radicals of the day, revolutionary purity meant a strong legislature that would overshadow a weak executive and judiciary. For Hamilton, this could only invite legislative tyranny. Rutgers v. Waddington represented his first major chance to expound the principle that the judiciary should enjoy coequal status with the other two branches of government. If Rutgers v. Waddington made Hamilton a controversial figure in city politics in 1784, the founding of the Bank of New York cast him in a more conciliatory role. The creation of New York’s first bank was a formative moment in the city’s rise as a world financial center. Banking was still a new phenomenon in America. The first such chartered institution, the Bank of North America, had been started in Philadelphia in 1781, and Hamilton had studied its affairs closely. It was the brainchild of Robert Morris, and its two biggest shareholders were Jeremiah Wadsworth and Hamilton’s brother-in-law John B. Church. These two men now cast about for fresh outlets for their capital. In 1783, John Church sailed for Europe with Angelica and their four children to settle wartime accounts with the French government. In his absence, Church named Hamilton as his American business agent, a task that was to consume a good deal of his time in coming years. When Church and Wadsworth deputized him to set up a private bank in New York, Hamilton warmed to it as a project that could help to rejuvenate New York commerce. He was stymied by a competing proposal from Robert R. Livingston to set up a “land bank”—so called because the initial capital would be pledged mostly in land, an idea Hamilton derided as a “wild and impracticable scheme.” 49 Since land is not a liquid asset and cannot be converted into ready cash in an emergency, Hamilton favored a more conservative bank that would conduct business exclusively in notes and gold and silver coins. When Livingston solicited the New York legislature for a charter, the tireless Hamilton swung into action and mobilized New York’s merchants against the effort. He informed Church that he had lobbied “some of the most intelligent merchants, who presently saw the matter in a proper light and began to take measures to defeat the plan.

ROCE: are you getting the best return on your investment?   As mentioned above, the ROE’s weakness is that it only takes into consideration the equity of a company, not accounting for the proportion of debt.   The return of capital employed (ROCE) fixes this problem because it takes into consideration the fixed assets (i.e., the investment that is employed to produce value).

When in 2008 the vast pyramids of financial capital came crashing down, Europe’s social democrats did not have the mental tools, or the moral values, with which to counter the bankers or to subject the collapsing system to critical scrutiny.

From the Fatwa and Rationalizatons Committee, on the Fifth Day of this Venerable Month: In light of its meeting today, the Committee hereby announces this fatwa to the entire nation, to ward off civil strife and its evils, and preserve the country's integrity. To keep those of faith from succumbing to sin in the eyes of God Almighty, all believers must verify any news before giving it credence, and all those who make claims must substantiate their assertions with proof, lest they spread false allegations and therefore corruption. Believers shall not boycott their brothers, nor cause them to suffer financial or emotional distress, and shall not call upon others to take such actions, as this is one of the gravest sins, unless done in support of religion. A believer who is weak of faith, and does not join his brothers, is guilty of a sin, which shall be weighed on Judgment Day. This sin can be absolved by fasting, or by making seven consecutive phone calls, each one not separated by more than a month. Our Book pronounces this truth upon you. May God lead you to the path of righteousness, and may His peace, blessings, and mercy be upon you.

Every one of us, at some time or another, has allowed fear to prevent us from living our best possible life. The first step in conquering our fears is to identify and confront them. Among the most common are: • Failure • Success • Being rejected • Looking stupid • Financial insecurity • Falling on your face • Being vulnerable • Appearing weak or unhealthy • Exposing your secrets • Being alone or unloved • Upsetting the status quo • Disappointing others

The IMF, despite its weaknesses, was a vital institution, designed to be as detached as possible from the politics of its member nations. And while we didn’t control it, as some claimed, we cared a lot about its ability to defuse crises around the world.

Sleep might serve as another example. We all need sleep. But how much? Those who regard the need for sleep as a sign of weakness might try to push the limit and see how few hours they can get along on.

Indeed, the consensual nature of the EU itself has meant that EU-level institutions are far weaker than certain federal institutions in the United States. These weaknesses were made painfully evident in the European debt crisis of 2010–2013. The United States Federal Reserve, Treasury, and Congress responded quite forcefully to its financial crisis, with a massive expansion of the Federal Reserve’s balance sheet, the $700 billion TARP, a second $700 billion stimulus package in 2009, and continuing asset purchases by the Fed under successive versions of quantitative easing. Under emergency circumstances, the executive branch was able to browbeat the Congress into supporting its initiatives. The European Union, by contrast, has taken a much more hesitant and piecemeal approach to the euro crisis. Lacking a monetary authority with the same powers as the Federal Reserve, and with fiscal policy remaining the preserve of national-level governments, European policy makers have had fewer tools than their American counterparts to deal with economic shocks.

The future has many names. For the weak, it’s unattainable. For the fearful, it’s unknown. For the bold, it’s ideal. —VICTOR HUGO To avoid criticism, say nothing, do nothing, be nothing. —ARISTOTLE

By the end of World War II Great Britain was financially and politically exhausted. This weakness was exploited by Mohandas Gandhi and his cohorts in India during their own struggle against British rule. Nigerian veterans from different theaters of the war had acquired certain skills—important military expertise in organization, movement, strategy, and combat—during their service to the king. Another proficiency that came naturally to this group was the skill of protest, which was quickly absorbed by the Nigerian nationalists.

Turning Your Financial Dreams into Reality   Once you’ve identified your goals and spending habits, it’s time to find out how much work you need to do to turn your financial dreams into reality. This is where the uphill climb begins and your journey can quickly become overwhelming if you don’t break down the planning process into manageable steps. An easy way to do this is to compare yourself to a series of financial benchmarks to identify your individual strengths and weaknesses. Comparing yourself to these benchmarks will show you what parts of your financial plan are in good working order and what parts need to be overhauled. Benchmarking allows you to allocate your resources efficiently so you’re never sacrificing too much in any single area. See how close you come to meeting the following benchmarks.

An orderly deleveraging of an overheated market can be a good thing, even if some big companies fail. That’s how capitalism is supposed to work: weak, bloated, and mismanaged firms make way for more dynamic competitors. Creative destruction instills discipline in the survivors.

The Young & Rubicam analysis explored changes in EVA and MVA from 1993 to 1999 for a set of 50 well-known and highly regarded brands, such as American Express, American Greetings, Fruit of the Loom, Disney, Kodak, Sears, Heinz, Harley-Davidson, and The Gap. The relationship of changes in these fundamental financial indicators was profiled among two sets of brands: those with “tightly defined” archetypal identities, whose closest secondary relationship was 10% or more below the first, and a “confused” set of brands, whose secondary archetype was within this 10% boundary. Each set consisted of an equal number of brands. The analysis showed that the MVA of those brands strongly aligned with a single archetype rose by 97% more than the MVA of confused brands. Also, over the six-year period under study, the EVA of strongly aligned brands grew at a rate 66% greater than that of the EVA of weakly aligned brands.

Contempt is born when we fixate on our spouse’s weaknesses. Every spouse has these sore points. If you want to find them, without a doubt you will. If you want to obsess about them, they’ll grow – but you won’t! Jesus provides a remedy that is stunning in its simplicity yet foreboding in its difficulty. He tells us to take the plank out of our own eye before we try to remove the speck from our neighbor’s eye (see Matthew 7:3–5). If you’re thinking “but my spouse is the one who has the plank,” allow me to let you in on a secret: You’re exactly the type of person Jesus is talking to. You’re the one He wanted to challenge with these words. Jesus isn’t helping us resolve legal matters here; He’s urging us to adopt humble spirits. He wants us to cast off the contempt – to have contempt for the contempt – and learn the spiritual secret of respect. Consider the type of people Jesus loved in the days He walked on earth – Judas (the betrayer); the woman at the well (a sexual libertine); Zacchaeus (the conniving financial cheat); and many others like them. In spite of the fact that Jesus was without sin and these people were very much steeped in sin, Jesus still honored them. He washed Judas’s feet; He spent time talking respectfully to the woman at the well; He went to Zacchaeus’s house for dinner. Jesus, the only perfect human being to live on this earth, moved toward sinful people; He asks us to do the same, beginning with the one closest to us – our spouse.

weakness will persist in part because of the vast amounts of debt governments took on during and after the financial crisis.

And indeed today as it struggles with its financial crisis, the central issue in Greek politics remains resentment of the influence of Brussels, Germany, the International Monetary Fund, and other external actors, which are seen as pulling strings behind the back of a weak Greek government. Although there is considerable distrust of government in American political culture, by contrast, the basic legitimacy of democratic institutions runs very deep. Distrust of government is related to the Greek inability to collect taxes. Americans loudly proclaim their dislike of taxes, but when Congress mandates a tax, the government is energetic in enforcement. Moreover, international surveys suggest that levels of tax compliance are reasonably high in the United States; higher, certainly, than most European countries on the Mediterranean. Tax evasion in Greece is widespread, with restaurants requiring cash payments, doctors declaring poverty-line salaries, and unreported swimming pools owned by asset-hiding citizens dotting the Athenian landscape. By one account, Greece’s shadow economy—unreported income hidden from the tax authorities—constitutes 29.6 percent of total GDP.24 A second factor has to do with the late arrival of capitalism in Greece. The United States was an early industrializer; the private sector and entrepreneurship remained the main occupations of most Americans. Greece urbanized and took on other trappings of a modern society early on, but it failed to build a strong base of industrial employment. In the absence of entrepreneurial opportunities, Greeks sought jobs in the state sector, and politicians seeking to mobilize votes were happy to oblige. Moreover, the Greek pattern of urbanization in which whole villages moved from the countryside preserved intact rural patronage networks, networks that industry-based development tended to dissolve.

When He Needs Freedom from Destructive Behavior Be strong in the Lord and in the power of His might. Put on the whole armor of God, that you may be able to stand against the wiles of the devil. EPHESIANS 6:10-11 IT’S DIFFICULT FOR A WIFE to see her husband exhibit any kind of destructive behavior. In watching him doing something repeatedly that hurts his health or jeopardizes their family, she sees her future going over a cliff. There can be such terrible consequences for his behavior that it could ruin them financially, as well as destroy him physically or mentally. Whether it is drinking alcohol, taking drugs, gambling, smoking, reckless eating habits, or whatever else she observes her husband doing that could destroy him or endanger her or their children, it can be so heartbreaking to her that she cannot live with it. Every woman has to decide what she can and cannot tolerate. Life is hard enough without your husband finding ways to make it worse. And she must decide how much she can allow her children to witness before it seriously affects them too. You may not see behavior as seriously destructive as that in your husband, but perhaps he is taking unnecessary chances with his safety, such as driving too fast, or riding a motorcycle without a helmet, or being careless with dangerous machinery or equipment, or refusing to see a doctor when he should, or not following the doctor’s orders and thereby jeopardizing his health. There is only so much you can say or do to try to motivate your husband to stop destructive behavior if he is intent on doing it. But God can do miracles when you fervently pray to Him about it. He hears your prayers, and He wants your husband to be free as much as you do. Your prayers can help your husband open his eyes to see the truth. Your prayers can help him to understand how to put on the whole armor of God so he can stand against these plans of the enemy for his destruction. My Prayer to God LORD, I pray You would set my husband free from any destructive behavior he has acquired. Wake him up to the folly of his ways and show him when he is being foolish. Break the chains that bind him and open his blind eyes. Strengthen him where his weakness controls him. Enable him to see when the enemy has erected a stronghold in his life. Help him to understand how his behavior affects me and our children, as well as other family members, coworkers, and friends. Tell me what I can do to help make this situation better. I know I cannot change him, and I am unable to make anything happen. Only You can open his eyes, deliver him, and set him free from destructive behavior. I know foolish actions are not Your will for his life, and there is a big price to pay for everything that is not Your will. I pray that neither I nor my children will have to pay any price for his careless behavior. Whatever the reason he appears to have little regard for me, our children, or himself by continuing any reckless behavior, I pray You would deliver him from it completely. You are greater and more powerful than whatever draws him away from Your best. I trust You to set him free to be all You made him to be. In Jesus’ name I pray.

A thousand times the imperialists have “renounced all thought” of annexations and of the financial strangulation of weak nations. But should we not compare these renunciations with the facts, which show that any one of the big banks of Germany, England, France and the United States does hold small nations “in subjection”? - V.I Lenin:

The Fed's keeping interest rates near zero for the past six years has had the “unintended consequence,” he says, of taking the pressure off companies with heavy debt loads and weak earnings, so lowquality stocks have done as well as or better than financially sound ones.

accounting (financial literacy, or the ability to read numbers and evaluate the strengths and weaknesses of any business), investing (the science and strategies of money making money), understanding markets (the science of supply and demand, and market conditions), and the law (tax advantages and protections).

The Spring event describes a bearish movement that breaks a previous support area and whose purpose is to carry out a transfer of shares from the weak hands (traders potentially manipulable due to their ignorance of the functioning of the market and because they trade based on their emotions) to the strong hands (large traders).

If your are confused! about the society, community, peoples or locality. Just silently observe how they are treating their stary animals or with other people. Who are weak in financial status or in crysis.

Mark Allin and Richard Burton started Capstone, their book-publishing venture, with high hopes. False modesty aside, they knew they were excellent editors, with a great track record at two publishing giants. I could vouch for Mark Allin’s profit-making abilities, since he gave me the idea for writing The 80/20 Principle, my bestselling book. Richard and Mark envisaged Capstone as a star venture, the leader in a new category of ‘funky business books’. They convinced me that this idea was plausible and I became their financial backer. I reckoned that I had an ‘each-way bet’ - either their star business would materialise, or, at worst, they would pick a few great winners, making Capstone highly profitable. The business appeared to start well. They commissioned a stream of trendy books from interesting authors. The product looked great, with distinctive trendy designs. Mark and Richard were full of ideas and enthusiasm, confidently projecting sales that would give us good profits. The only thing was, the forecasts never materialised. Whenever we looked at the numbers we were constantly disappointed. I kept injecting cash, and it kept vanishing. To this day I don’t know why their books didn’t sell in quantities we could reasonably expect.The favoured explanation was the weakness of the sales force - inevitably, it was difficult to acquire distribution muscle from scratch. Maybe they just had bad luck in not commissioning any smash hits. Whatever the reason, Capstone was a financial black hole. I remember a rather difficult meeting at my home in Richmond some three years after the start. Richard and Mark asked for a further loan to commission new books. I had to say no. We had to face facts. Capstone was not a star; the category of ‘funky business books’ had not established itself. Capstone was a rather weak follower in the business-books arena. Capstone had none of the financial attributes of a star. If it looked like a dog, behaved like a dog and barked like a dog, it probably was a dog.

Once you learn to respect your right to be fully valued, you will find it easy and natural to ask the world around you to respect that value. You set your price and the world will meet it. When you walk through the world feeling you are "more than" rather than "less than," more will come to you. No one ever achieved financial security by being weak and scared. Confidence is contagious; it will bring more into your life.

Financial IQ, or financial intelligence, is what makes that possible. It’s made up of four things: accounting (financial literacy, or the ability to read numbers and evaluate the strengths and weaknesses of any business), investing (the science and strategies of money making money), understanding markets (the science of supply and demand, and market conditions), and the law (tax advantages and protections).

I remind people that financial IQ is made up of knowledge from four broad areas of expertise: 1.​Accounting Accounting is financial literacy or the ability to read numbers. This is a vital skill if you want to build an empire. The more money you are responsible for, the more accuracy is required, or the house comes tumbling down. This is the left-brain side, or the details. Financial literacy is the ability to read and understand financial statements which allows you to identify the strengths and weaknesses of any business. 2.​Investing Investing is the science of “money making money.” This involves strategies and formulas that use the creative right-brain side. 3.​Understanding markets Understanding markets is the science of supply and demand. You need to know the technical aspects of the market, which are emotion-driven, in addition to the fundamental or economic aspects of an investment. Does an investment make sense or does it not make sense based on current market conditions? 4.​The law A corporation wrapped around the technical skills of accounting, investing, and markets can contribute to explosive growth. A person who understands the tax advantages and protections provided by a corporation can get rich so much faster than someone who is an employee or a small-business sole proprietor. It’s like the difference between someone walking and someone flying. The difference is profound when it comes to long-term wealth.

On November 22nd, 2018, my mother Vernita Lee passed away. I was conflicted about our relationship up until the very end. The truth is, it wasn't until I became successful that my mother started to show more interest in me. I wrestled with the question of how to take care of her - what did I owe the woman who gave me life, The bible says 'honor thy father and mother', but what did that actually mean? I decided one of the ways I could honor her would be to help care for her financially ... but there was never any real connection. I would say that the audience who watched me on television knew me better than my mother did. When her health began to decline a few years ago, I knew I needed to prepare myself for her transition. Just a few days before Thanksgiving my sister Patricia called to tell me she thought it was time. I flew to Milwaukee ... I tried to think of something to say, at one point I even picked up the manual left by the hospice care people. I read their advice thinking the whole time, how sad it was that I, Oprah Winfrey, who had spoken to thousands of people one on one should have to read a hospice manual to figure out what to say to my mother. When it was finally time to leave, something told me it would be the last time I'd ever see her but as I turned to go, the words I needed to say still wouldn't come. All I could muster was 'bye, I'll be seeing you' and I left for, ironically, a speaking engagement. On the flight home the next morning a little voice in my head whispered what I knew in my heart to be true: "you are going to regret this, you haven't finished the work". ... I turned around and went back to Milwaukee. I spent another day in that hot room and still no words came. That night I prayed for help. In the morning I meditated, and as I prepared to leave the bedroom I picked up my phone and noticed the song that was playing - Mahalia Jackson's 'Precious Lord'. If ever there was a sign, this was it. I had no idea how Mahalia Jackson appeared on my playlist. As I listened to the words, Precious Lord, take my hand Lead me on, let me stand. I am tired, I'm weak, I am worn Lead me on to the light, Take my hand, precious Lord And lead me home. I suddenly knew what to do. When I walked into my mothers room I asked if she wanted to hear the song. She nodded, and then I had another idea. I called my friend Wintley Phipps, a preacher and gospel artist, and asked him to sing Precious Lord to my dying mother. Over FaceTime from his kitchen table he sang the song a cappella and then prayed that our family would have no fear, just peace. I could see that my mother was moved. The song and the prayer had created a sort of opening for both of us. I began to talk to her about her life, her dreams, and me. Finally the words were there. I said, "It must have been hard for you, not having an education, not having a skill, not knowing what the future held. When you became pregnant, I'm sure a lot of people told you to get rid of that baby." She nodded. "But you didn't", I said. "And I want to thank you for keeping this baby". I paused, "I know that many times you didn't know what to do. You did the best you knew how to do and that's okay with me. That is okay with me. So you can leave now, knowing that it is well. It is well with my soul. It's been well for a long time." It was a sacred, beautiful moment, one of the proudest of my life. As an adult I'd learned to see my mother through a different lens; not as the mother who didn't care for me, protect me, love me or understand anything about me, but as a young girl still just a child herself; scared, alone, and unequipped to be a loving parent. I had forgiven my mother years earlier for not being the mother I needed, but she didn't know that. And in our last moments together I believe I was able to release her from the shame and the guilt of our past. I came back and I finished the work that needed to be done.

Finally, a word about blockchain technologies and bitcoin:  first, there have been initiatives to use blockchain to document land titles.  Without claiming that it is a magical solution, transparent public ledgers that cannot be altered without a record of such alteration is certainly a solution worth exploring in nations with notoriously bad recordkeeping systems and pervasive corruption. Second, bitcoin is invaluable in nations with significant inflation and currency controls that prevent citizens from bringing capital in or out. In order for entrepreneurs to create prosperity in Africa, they need the freedom to deploy their choice of currency and to move capital freely. In many African nations, there are sharp restrictions on capital flows. But businesses often need to shift capital from one use to another quickly and frictionlessly.Many in the West have come to associate bitcoin with speculation, especially after the spectacular collapse of crypto exchange FTX. They are unaware of what it is like to live in a nation with weak financial institutions and, in many cases, chronically high inflation rates. Bitcoin is also a path to liberation from the CFA, a French-controlled currency that is currently used by fifteen nations and 180 million-plus people.

Sure,” said Rearden easily. “If it’s production that you want, then get out of the way, junk all of your damn regulations, let Orren Boyle go broke, let me buy the plant of Associated Steel—and it will be pouring a thousand tons a day from every one of its sixty furnaces.” “Oh, but . . . but we couldn’t!” gasped Mouch. “That would be monopoly!” Rearden chuckled. “Okay,” he said indifferently, “then let my mills superintendent buy it. He’ll do a better job than Boyle.” “Oh, but that would be letting the strong have an advantage over the weak! We couldn’t do that!” “Then don’t talk about saving the country’s economy.” “All we want is—” He stopped. “All you want is production without men who’re able to produce, isn’t it?” “That . . . that’s theory. That’s just a theoretical extreme. All we want is a temporary adjustment.” “You’ve been making those temporary adjustments for years. Don’t you see that you’ve run out of time?” “That’s just theo . . .” His voice trailed off and stopped. “Well, now, look here,” said Holloway cautiously, “it’s not as if Mr. Boyle were actually . . . weak. Mr. Boyle is an extremely able man. It’s just that he’s suffered some unfortunate reverses, quite beyond his control. He had invested large sums in a public-spirited project to assist the undeveloped peoples of South America, and that copper crash of theirs has dealt him a severe financial blow. So it’s only a matter of giving him a chance to recover, a helping hand to bridge the gap, a bit of temporary assistance, nothing more. All we have to do is just equalize the sacrifice—then everybody will recover and prosper.

Moneylenders have always received a bad press. Over the centuries all – well, nearly all – the greatest minds have been aligned against them. Aristotle, Plato, St Augustine, Thomas Aquinas, Dante, Luther and Shakespeare have each had a go at the wretched usurer. Criticism has come from the left and from the right. Marx detested interest, but then so did Hitler. A few years ago, the Archbishop of Canterbury launched an attack on a UK payday lending firm, which he believed took advantage of the needy and desperate. ‘The War on Wonga’ (the name of the financial firm) is a campaign without end. Many economists, in particular the experts on inequality, side with the angels. The taking of interest is depicted as robbing the weak and the needy. What’s more, by demanding back more than has been given, the usurer stands accused of injustice.

It’s not so much that a strong or weak currency is inherently good or bad per se, but rather that an artificially strong or weak currency relative to a country’s trade balance is bad. If a country has a persistent trade surplus but constantly weakens its otherwise-appreciating currency by accumulating central bank reserves (mercantilism), then value is siphoned away from workers and toward the leaders. Similarly, if a country has a persistent trade deficit but has an extra monetary premium built onto its otherwise-depreciating currency due to its imperial prowess, then its workers are not very competitive in terms of global labor rates and will likely stagnate, while their political leaders, multinational corporations, and wealthy elite will thrive.

So long as governments were financially weak, with primitive monetary methods and small budgets, they had to rely on private bankers.