Fixed Income Quotes

We've searched our database for all the quotes and captions related to Fixed Income. Here they are! All 100 of them:

It is remarkable…what a change of temper a fixed income will bring about.
Virginia Woolf (A Room of One’s Own)
Until we embrace our mutual brokenness, our work with low-income people is likely to do more harm than good. I sometimes unintentionally reduce poor people to objects that I use to fulfill my own need to accomplish something. I am not okay, and you are not okay. But Jesus can fix us both.
Steve Corbett (When Helping Hurts: How to Alleviate Poverty without Hurting the Poor...and Yourself)
The time of dangling insects arrived. White houses with caterpillars dangling from the eaves. White stones in driveways. You can walk at night down the middle of the street and hear women talking on the telephone. Warmer weather produces voices in the dark. They are talking about their adolescent sons. How big, how fast. The sons are almost frightening. The quantities they eat. The way they loom in doorways. These are the days that are full of wormy bugs. They are in the grass, stuck to the siding, hanging in the hair, hanging from the trees and eaves, stuck to the window screens. The women talk long-distance to grandparents of growing boys. They share the Trimline phone, beamish old folks in hand-knit sweaters on fixed incomes. What happens to them when the commercial ends?
Don DeLillo (White Noise)
I hate debt - except when I’m the lender.
Hendrith Vanlon Smith Jr.
It is remarkable, remembering the bitterness of those days, what a change of temper a fixed income will bring about. No force in the world can take from me my five hundred pounds. Food, house, and clothing are mine forever. Therefore not merely do effort and labour cease, but also hatred and bitterness. I need not hate any man; he cannot hurt me.
Virginia Woolf (A Room of One’s Own)
The market might have learned a simple lesson: Don’t make loans to people who can’t repay them. Instead it learned a complicated one: You can keep on making these loans, just don’t keep them on your books. Make the loans, then sell them off to the fixed income departments of big Wall Street investment banks, which will in turn package them into bonds and sell them to investors.
Michael Lewis (The Big Short)
Don’t believe the system is a meritocracy in which ability and hard work are necessarily rewarded. Today the most important predictor of someone’s future income and wealth is the income and wealth of the family they’re born into.
Robert B. Reich (The System: Who Rigged It, How We Fix It)
For three decades almost all the gains from economic growth have gone to the top. In the 1960s and 1970s, the wealthiest 1 percent of Americans got 9–10 percent of our total income. By 2007, just before the Great Recession, that share had more than doubled, to 23.5 percent. Over the same period the wealthiest one-tenth of 1 percent tripled its share. We haven’t experienced this degree of concentrated wealth since the Gilded Age of the late nineteenth century.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
Municipal Bond investment risk is substantially influenced by socio-politics.
Hendrith Vanlon Smith Jr.
[Those] on fixed incomes are the nation's math elite.
Tim Dorsey (Atomic Lobster (Serge Storms, #10))
Season late, day late, sun just down, and the sky Cold gunmetal but with a wash of live rose, and she, From water the color of sky except where Her motion has fractured it to shivering splinters of silver, Rises. Stands on the raw grass. Against The new-curdling night of spruces, nakedness Glimmers and, at bosom and flank, drips With fluent silver. The man, Some ten strokes out, but now hanging Motionless in the gunmetal water, feet Cold with the coldness of depth, all History dissolving from him, is Nothing but an eye. Is an eye only. Sees The body that is marked by his use, and Time's, Rise, and in the abrupt and unsustaining element of air, Sway, lean, grapple the pond-bank. Sees How, with that posture of female awkwardness that is, And is the stab of, suddenly perceived grace, breasts bulge down in The pure curve of their weight and buttocks Moon up and, in swelling unity, Are silver and glimmer. Then The body is erect, she is herself, whatever Self she may be, and with an end of the towel grasped in each hand, Slowly draws it back and forth across back and buttocks, but With face lifted toward the high sky, where The over-wash of rose color now fails. Fails, though no star Yet throbs there. The towel, forgotten, Does not move now. The gaze Remains fixed on the sky. The body, Profiled against the darkness of spruces, seems To draw to itself, and condense in its whiteness, what light In the sky yet lingers or, from The metallic and abstract severity of water, lifts. The body, With the towel now trailing loose from one hand, is A white stalk from which the face flowers gravely toward the high sky. This moment is non-sequential and absolute, and admits Of no definition, for it Subsumes all other, and sequential, moments, by which Definition might be possible. The woman, Face yet raised, wraps, With a motion as though standing in sleep, The towel about her body, under her breasts, and, Holding it there hieratic as lost Egypt and erect, Moves up the path that, stair-steep, winds Into the clamber and tangle of growth. Beyond The lattice of dusk-dripping leaves, whiteness Dimly glimmers, goes. Glimmers and is gone, and the man, Suspended in his darkling medium, stares Upward where, though not visible, he knows She moves, and in his heart he cries out that, if only He had such strength, he would put his hand forth And maintain it over her to guard, in all Her out-goings and in-comings, from whatever Inclemency of sky or slur of the world's weather Might ever be. In his heart he cries out. Above Height of the spruce-night and heave of the far mountain, he sees The first star pulse into being. It gleams there. I do not know what promise it makes him.
Robert Penn Warren
It was a measure of how much money people were making in the bond market that the magazine Institutional Investor was about to create a hot list of people who worked in it, called The 20 Rising Stars of Fixed Income. It was a measure of how much money people
Michael Lewis (The Big Short: Inside the Doomsday Machine)
The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripples out through the system, going from one pocket or till to another. As it does so, there is an immediate redistribution effect. For first the counterfeiters, then the retailers, etc. have new money and monetary income they use to bid up goods and services, increasing their demand and raising the prices of the goods that they purchase. But as prices of goods begin to rise in response to the higher quantity of money, those who haven't yet received the new money find the prices of the goods they buy have gone up, while their own selling prices or incomes have not risen. In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.
Murray N. Rothbard
The market might have learned a simple lesson: Don’t make loans to people who can’t repay them. Instead it learned a complicated one: You can keep on making these loans, just don’t keep them on your books. Make the loans, then sell them off to the fixed income departments of big Wall Street investment banks,
Michael Lewis (The Big Short: Inside the Doomsday Machine)
In all, 62 percent of the budget cuts would come from low-income programs. Yet at the same time, the Republican budget would provide a substantial tax cut to the rich—who are already taking home an almost unprecedented share of the nation’s total income.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
The United States now has the highest level of income inequality in the industrialized world, a fact that some regard as “a threat to American democracy.”5 Meanwhile, the public’s revolt against globalization, which many blame for the loss of jobs and the hollowing out of the middle class, culminated in the British vote to exit the European Union and the election of political neophyte and outsider Donald Trump as US president in 2016. Trump’s ascendancy, in particular, represented a rebuke of the deeply entrenched political establishment that had dominated US politics for decades.
Dambisa Moyo (Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth-and How to Fix It)
(H)ow many great noblemen rob their petty tradesmen, condescend to swindle their poor retainers out of wretched little sums, and cheat for a few shillings? When we read that a nobleman has left for the Continent, or that another noble nobleman has an execution in his house - that one or other owe six or seven millions, the defeat seems glorious even, and we respect the victim of the vastness of his ruin. But who pities a poor barber who can't get his money for powdering the footman's heads; or a poor carpenter who has ruined himself by fixing up ornaments and pavilions for my lady's déjeuner; or the poor devil of a tailor whom the steward patronizes, and who has pledged all he is worth, and more, to get the liveries ready, which my lord has done him the honor to bespeak? - When the great house tumbles down, these miserable wretches fall under it unnoticed: as they say in old legends, before a man goes to the devil himself, he sends plenty of other souls thither.
William Makepeace Thackeray
When capital has bumped up against limits to profit-growth in the past, it has found fixes in things like colonisation, structural adjustment programmes, wars, restrictive patent laws, nefarious debt instruments, land grabs, privatisation, and enclosing commons like water and seeds. Why would it be any different this time? Indeed, a study by the ecological economist Beth Stratford finds that when capital faces resource constraints, this is exactly what happens: it turns to aggressive rent-seeking behaviour. It seeks to grab existing value wherever it can, with clever mechanisms to suck income and wealth from the public domain into private hands, and from the poor to the rich, exacerbating inequality.
Jason Hickel (Less Is More: How Degrowth Will Save the World)
New York City manages expertly, and with marvelous predictability, whatever it considers humanly important. Fax machines, computers, automated telephones and even messengers on bikes convey a million bits of data through Manhattan every day to guarantee that Wall Street brokers get their orders placed, confirmed, delivered, at the moment they demand. But leaking roofs cannot be fixed and books cannot be gotten into Morris High in time to meet the fall enrollment. Efficiency in educational provision for low-income children, as in health care and most other elementals of existence, is secreted and doled out by our municipalities as if it were a scarce resource. Like kindness, cleanliness and promptness of provision, it is not secured by gravity of need but by the cash, skin color and class status of the applicant.
Jonathan Kozol (Savage Inequalities: Children in America's Schools)
There is a world of difference between city Australia and country Australia. It has nothing to do with wealth or education, nothing to do with Southern Cross tattoos and mullets, nothing to do with politics or income or class. It has everything to do with whether you know how to fix an engine, clean a rifle and birth a calf. Whether you know your neighbours. Whether you have enough foresight and pragmatism to convene a town meeting, throw a barricade up along the main road and strip refugees of their supplies.
Shane Carrow (Rise of the Undead (End Times, #1))
Loss aversion refers to the relative strength of two motives: we are driven more strongly to avoid losses than to achieve gains. A reference point is sometimes the status quo, but it can also be a goal in the future: not achieving a goal is a loss, exceeding the goal is a gain. As we might expect from negativity dominance, the two motives are not equally powerful. The aversion to the failure of not reaching the goal is much stronger than the desire to exceed it. People often adopt short-term goals that they strive to achieve but not necessarily to exceed. They are likely to reduce their efforts when they have reached an immediate goal, with results that sometimes violate economic logic. New York cabdrivers, for example, may have a target income for the month or the year, but the goal that controls their effort is typically a daily target of earnings. Of course, the daily goal is much easier to achieve (and exceed) on some days than on others. On rainy days, a New York cab never remains free for long, and the driver quickly achieves his target; not so in pleasant weather, when cabs often waste time cruising the streets looking for fares. Economic logic implies that cabdrivers should work many hours on rainy days and treat themselves to some leisure on mild days, when they can “buy” leisure at a lower price. The logic of loss aversion suggests the opposite: drivers who have a fixed daily target will work many more hours when the pickings are slim and go home early when rain-drenched customers are begging to be taken somewhere.
Daniel Kahneman (Thinking, Fast and Slow)
Ohio hadn’t gone through the same real estate boom as the Sun Belt, but the vultures had circled the carcasses of dying industrial towns––Dayton, Toledo, Mansfield, Youngstown, Akron––peddling home equity loans and refinancing. All the garbage that blew up in people’s faces the same way subprime mortgages had. A fleet of nouveau riche snake oil salesmen scoured the state, moving from minority hoods where widowed, churchgoing black ladies on fixed incomes made for easy marks to the white working-class enclaves and then the first-ring suburbs. The foreclosures began to crop up and then turn into fields of fast-moving weeds, reducing whole neighborhoods to abandoned husks or drug pens. Ameriquest, Countrywide, CitiFinancial––all those devious motherfuckers watching the state’s job losses, plant closings, its struggles, its heartache, and figuring out a way to make a buck on people’s desperation. Every city or town in the state had big gangrenous swaths that looked like New Canaan, the same cancer-patient-looking strip mall geography with brightly lit outposts hawking variations on usurious consumer credit. Those entrepreneurs saw the state breaking down like Bill’s truck, and they moved in, looking to sell the last working parts for scrap.
Stephen Markley (Ohio)
Two decades after its first democratic election, South Africa ranks as the most unequal country on Earth.1 A host of policy tools could patch each of South Africa’s ills in piecemeal fashion, yet one force would unquestionably improve them all: economic growth.2 Diminished growth lowers living standards. With 5 percent annual growth, it takes just fourteen years to double a country’s GDP; with 3 percent growth, it takes twenty-four years. In general, emerging economies with a low asset base need to grow faster and accumulate a stock of assets more quickly than more developed economies in which basic living standards are already largely met. Meaningfully increasing per capita income is a critical way to lift people’s living standards and take them out of poverty, thereby truly changing the developmental trajectory of the country. South Africa has managed to push growth above a mere 3 percent only four times since the transition from apartheid, and it has remained all but stalled under 5 percent since 2008. And the forecast for growth in years to come hovers around a paltry 1 percent. Because South Africa’s population has been growing around 1.5 percent per year since 2008, the country’s per capita income has been stagnant over the period.
Dambisa Moyo (Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth-and How to Fix It)
the imposition of a negative real interest rate – effectively a wealth tax – on all forms of financial wealth expropriates the incomes of savers and might alter expectations of future effective rates of wealth taxes. If you are told, for example, that all your assets held in accounts fixed in money terms will be subject to a 5-percentage-point wealth tax, you might, it is true, decide to spend today, but you might well, fearful of what the government could do next year, batten down the hatches and cut spending. Households and businesses might simply conserve their resources to cope with an unpredictable and unknowable future. The
Mervyn A. King (The End of Alchemy: Money, Banking, and the Future of the Global Economy)
I mean, if you accept the framework that says totalitarian command economies have the right to make these decisions, and if the wage levels and working conditions are fixed facts, then we have to make choices within those assumptions. Then you can make an argument that poor people here ought to lose their jobs to even poorer people somewhere else... because that increases the economic pie, and it's the usual story. Why make those assumptions? There are other ways of dealing with the problem. Take, for example rich people here. Take those like me who are in the top few percent of the income ladder. We could cut back our luxurious lifestyles, pay proper taxes, there are all sorts of things. I'm not even talking about Bill Gates, but people who are reasonably privileged. Instead of imposing the burden on poor people here and saying "well, you poor people have to give up your jobs because even poorer people need them over there," we could say "okay, we rich people will give up some small part of our ludicrous luxury and use it to raise living standards and working conditions elsewhere, and to let them have enough capital to develop their own economy, their own means." Then the issue will not arise. But it's much more convenient to say that poor people here ought to pay the burden under the framework of command economies—totalitarianism. But, if you think it through, it makes sense and almost every social issue you think about—real ones, live ones, ones right on the table—has these properties. We don't have to accept and shouldn't accept the framework of domination of thought and attitude that only allows certain choices to be made... and those choices almost invariably come down to how to put the burden on the poor. That's class warfare. Even by real nice people like us who think it's good to help poor workers, but within a framework of class warfare that maintains privilege and transfers the burden to the poor. It's a matter of raising consciousness among very decent people.
Noam Chomsky (Chomsky On Anarchism)
It is the fixed nature of caste that distinguishes it from class, a term to which it is often compared. Class is an altogether separate measure of one’s standing in a society, marked by level of education, income, and occupation, as well as the attendant characteristics, such as accent, taste, and manners, that flow from socioeconomic status. These can be acquired through hard work and ingenuity or lost through poor decisions or calamity. If you can act your way out of it, then it is class, not caste. Through the years, wealth and class may have insulated some people born to the subordinate caste in America but not protected them from humiliating attempts to put them in their place or to remind them of their caste position.
Isabel Wilkerson (Caste: The Origins of Our Discontents)
My life began by flickering out. It may sound strange but it is so. From the very first moment I became conscious of myself, I felt that I was already flickering out. I began to flicker out over the writing of official papers at the office; I went on flickering out when I read truths in books which I did not know how to apply in life, when I sat with friends listening to rumours, gossip, jeering, spiteful, cold, and empty chatter, and watching friendships kept up by meetings that were without aim or affection; I was flickering out and wasting my energies with Minna on whom I spent more than half of my income, imagining that I loved her; I was flickering out when I walked idly and dejectedly along Nevsky Avenue among people in raccoon coats and beaver collars – at parties, on reception days, where I was welcomed with open arms as a fairly eligible young man; I was flickering out and wasting my life and mind on trifles moving from town to some country house, and from the country house to Gorokhovaya, fixing the arrival of spring by the fact that lobsters and oysters had appeared in the shops, of autumn and winter by the special visiting days, of summer by the fêtes, and life in general by lazy and comfortable somnolence like the rest. ... Even ambition – what was it wasted on? To order clothes at a famous tailor's? To get an invitation to a famous house? To shake hands with Prince P.? And ambition is the salt of life! Where has it gone to? Either I have not understood this sort of life or it is utterly worthless; but I did not know of a better one. No one showed it to me.
Ivan Goncharov (Oblomov)
the sum total of tears always stays the same' - i.e., that in every nation, no matter what flag or system of government, no matter which gods are worshiped or what the average income is, the sum total of tears, pain, and fear that everyone must pay for his existence is a constant. And so the balance is maintained: well-fed nations wallow in neurosis and excesses, while people plagued with suffering, as we are now, may rely on numbness and apathy to help see them through - if not for that I'd be weeping morning, noon, and night. But I'm not crying and neither is anyone else, and the fact that we aren't is all part of a natural law. Of course if you believe that the earthly sum of tears is fixed and immutable, then you're not very well cut out to improve the world or to act on any kind of grand scale.
Anonymous (A Woman in Berlin: Eight Weeks in the Conquered City: A Diary)
Even the most recent IPCC report, dire as it is, spells out solutions of a sort. There are ways to mitigate things, there are ways to fix them. Ban fossil fuels. Stop eating meat and dairy; according to an IPCC report from 2014, animal agriculture contributes at least as much to global greenhouse gas emissions as the combined exhaust of all the world’s vehicles. What’s that you say? Too difficult? Can’t switch to an oil-free economy overnight? Okay, here’s something that’s effective, simple, and as convenient as a visit to the nearest outpatient clinic: stop breeding. Every child you squeeze out is a Godzilla-sized carbon bootprint stretching into the future—and after all, isn’t 7.6 billion of us enough? Are your genes really that special? If even half the men on the planet got vasectomies, I bet we could buy ourselves a century—and as an added bonus, child-free people not only tend to have higher disposable income than the sprogged, they’re also statistically happier.
Peter Watts (Peter Watts Is An Angry Sentient Tumor: Revenge Fantasies and Essays)
In musing on all that occurred in the course of the several years of harassment the error I decided I made, and others frequently make, is to assume that we are all academics trying to sort out intellectual issues. The False Memory Syndrome Foundation is a political organization composed primarily of individuals who have been accused of child sexual abuse and those who support and defend them, sometimes for considerable sums. Such people are not going to be swayed by the research. They start with a fixed point of view-the need to deflect threat. That threat comes in the form of public exposure, loss of income, monetary penalties, or even in some cases incarceration. I heard a colleague say recently, in referring to the 30 or so studies that document the existence of recovered memory, “You get to the point where you wonder when is it going to be enough.” It is never going to be enough if the point is not searching for the truth but protecting a particular point of view. Confessions of a Whistle-Blower: Lessons Anna C. Salter. Ethics & Behavior, Volume 8, Issue 2 June 1998
Anna C. Salter
If you are stuck in circumstances in which it takes Herculean efforts to get through the day— doing low-income work, obeying an authoritarian boss, buying clothes for the children, dealing with school issues, paying the rent or mortgage, fixing the car, negotiating with a spouse, paying taxes, and caring for older parents— it is not easy to pay close attention to larger political issues. Indeed you may wish that these issues would take care of themselves. It is not a huge jump from such a wish to become attracted to a public philosophy, spouted regularly at your job and on the media, that economic life would regulate itself automatically if only the state did not repeatedly intervene in it in clumsy ways. Now underfunded practices such as the license bureau, state welfare, public health insurance, public schools, public retirement plans, and the like begin to appear as awkward, bureaucratic organizations that could be replaced or eliminated if only the rational market were allowed to take care of things impersonally and quietly, as it were. Certainly such bureaucracies are indeed often clumsy. But more people are now attracted to compare that clumsiness to the myth of how an impersonal market would perform if it took on even more assignments and if state regulation of it were reduced even further. So a lot of “independents” and “moderates” may become predisposed to the myth of the rational market in part because the pressures of daily life encourage them to seek comfort in ideological formations that promise automatic rationality.
William E. Connolly (The Fragility of Things: Self-Organizing Processes, Neoliberal Fantasies, and Democratic Activism)
CONGRUENCE Have you ever felt stuck? Maybe you haven’t recruited anyone in a while, and you just can’t seem to break the streak of no success. This causes you to not feel like picking up the phone and getting any more rejection. You don’t feel like talking about the business that day, so you don’t. Can you relate? This is critical for you to always remember. You cannot avoid rejection. Ninety percent of people are always going to tell you that your business is not for them. You have to go through the no’s to get to the yeses. There is no other way around it. You may not like making calls and accepting no’s, but you will like the results and income you will get by doing it consistently enough. Bank on it. So here’s what happens to everyone, myself included. You have a bad day, where everyone says no. You wake up the next day and you just cannot get yourself to make some calls. The whole day goes by and you did nothing to grow your business. The next day, you have a nagging little feeling of guilt about doing nothing the day before, so you start to internalize it. You question whether you know what you are doing. Does the business work? Is it worth the effort? You know the answer is yes, so you don’t quit — but you also do no activity. The next day, that little guilt feeling has mushroomed even bigger. And as time goes on, the guilt turns into self-loathing. You get down on yourself for not performing like you know you could and should. You begin to beat yourself up and even compare yourself to others. Sadly, this can become a downward spiral that is self-inflicted and hard to break out of. Without being wise enough to seek direct help from an upline expert, some people never recover. Instead of fixing their mindset and bringing their goals and the actions back into alignment — getting congruent — they quit the business. These are the blamers who walk the Earth claiming the business didn’t work. No! They stopped working! Don’t be a blamer. Be congruent. Make your activity match up with your WHY in the business. Pick up the phone and snap back into action. Don’t allow yourself to be depressed, because it is a form of depression. Your upline can help you snap out of it. How
Brian Carruthers (Building an Empire:The Most Complete Blueprint to Building a Massive Network Marketing Business)
Many models are constructed to account for regularly observed phenomena. By design, their direct implications are consistent with reality. But others are built up from first principles, using the profession’s preferred building blocks. They may be mathematically elegant and match up well with the prevailing modeling conventions of the day. However, this does not make them necessarily more useful, especially when their conclusions have a tenuous relationship with reality. Macroeconomists have been particularly prone to this problem. In recent decades they have put considerable effort into developing macro models that require sophisticated mathematical tools, populated by fully rational, infinitely lived individuals solving complicated dynamic optimization problems under uncertainty. These are models that are “microfounded,” in the profession’s parlance: The macro-level implications are derived from the behavior of individuals, rather than simply postulated. This is a good thing, in principle. For example, aggregate saving behavior derives from the optimization problem in which a representative consumer maximizes his consumption while adhering to a lifetime (intertemporal) budget constraint.† Keynesian models, by contrast, take a shortcut, assuming a fixed relationship between saving and national income. However, these models shed limited light on the classical questions of macroeconomics: Why are there economic booms and recessions? What generates unemployment? What roles can fiscal and monetary policy play in stabilizing the economy? In trying to render their models tractable, economists neglected many important aspects of the real world. In particular, they assumed away imperfections and frictions in markets for labor, capital, and goods. The ups and downs of the economy were ascribed to exogenous and vague “shocks” to technology and consumer preferences. The unemployed weren’t looking for jobs they couldn’t find; they represented a worker’s optimal trade-off between leisure and labor. Perhaps unsurprisingly, these models were poor forecasters of major macroeconomic variables such as inflation and growth.8 As long as the economy hummed along at a steady clip and unemployment was low, these shortcomings were not particularly evident. But their failures become more apparent and costly in the aftermath of the financial crisis of 2008–9. These newfangled models simply could not explain the magnitude and duration of the recession that followed. They needed, at the very least, to incorporate more realism about financial-market imperfections. Traditional Keynesian models, despite their lack of microfoundations, could explain how economies can get stuck with high unemployment and seemed more relevant than ever. Yet the advocates of the new models were reluctant to give up on them—not because these models did a better job of tracking reality, but because they were what models were supposed to look like. Their modeling strategy trumped the realism of conclusions. Economists’ attachment to particular modeling conventions—rational, forward-looking individuals, well-functioning markets, and so on—often leads them to overlook obvious conflicts with the world around them.
Dani Rodrik (Economics Rules: The Rights and Wrongs of the Dismal Science)
One of the worst outcomes of unemployment is finance; it is really tough for a jobless person to manage their basic need in such situation as they are not having any fixed source of the income. Loan for unemployed is a financial plan that is especially intended to assist unwaged borrowers. With the support of this financial service they can easily access the funds despite of not having a job.
bardnulla
back over the last hundred years and you’ll see the pattern. During periods when the very rich took home a much smaller proportion of total income—as in the Great Prosperity between 1947 and 1977—the nation as a whole grew faster, and median wages surged. The basic bargain ensured that the pay of American workers coincided with their output. In effect, the vast middle class received an increasing share of the benefits of economic growth. America created that virtuous cycle in which an ever-growing middle class had the ability to consume more goods and services, which created more and better jobs, thereby stoking demand. The rising tide did in fact lift all boats. On the other hand, during periods when the very rich took home a larger proportion—as between 1918 and 1933, and in the Great Regression from 1981 to the present day—growth slowed, median wages stagnated, and the nation suffered giant downturns.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
It’s no mere coincidence that over the last century the top earners’ share of the nation’s total income peaked twice, in 1928 and 2007—the two years just preceding the biggest downturns.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
The tax cuts enacted in 2001 and 2003—and extended for two years in 2010—in 2011 saved the richest 1.4 million taxpayers (the top 1 percent) more money than the rest of America’s 140,890,000 taxpayers received in total income.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
For the past century or so, the basic dilemma of economic policy has been thought to be the one between promoting the increase in total wealth8 (or income) and the equality or fairness of the distribution of that wealth (or income).9 The emphasis between these is also one way to make the economic split into the “right” and “left” wings in politics10 – the right primarily focusing on maximizing total wealth and economic freedom, the left primarily concerned with economic equality and security.
Tuure Parkkinen (Fixing the Root Bug: The Simple Hack for a Growth-Independent, Fair and Sustainable Market Economy 2.0)
some of the structural drivers of inflation have also weakened. Trade unions have become less powerful. Loss-making state industries have been privatized. But, perhaps most importantly of all, the social constituency with an interest in positive real returns on bonds has grown. In the developed world a rising share of wealth is held in the form of private pension funds and other savings institutions that are required, or at least expected, to hold a high proportion of their assets in the form of government bonds and other fixed income securities. In 2007 a survey of pension funds in eleven major economies revealed that bonds accounted for more than a quarter of their assets, substantially lower than in past decades, but still a substantial share.71 With every passing year, the proportion of the population living off the income from such funds goes up, as the share of retirees increases.
Niall Ferguson (The Ascent of Money: A Financial History of the World: 10th Anniversary Edition)
and growing need for fixed income securities, and for low inflation to ensure that the interest they pay retains its purchasing power. As more and more people leave the workforce, recurrent public sector deficits ensure that the bond market will never be short of new bonds to sell.
Niall Ferguson (The Ascent of Money: A Financial History of the World: 10th Anniversary Edition)
Stop the Flow of Money It doesn’t matter whether we are on a fixed income or are blessed with abundant financial resources, a common denominator among enablers is the flow of money to our adult children. It doesn’t matter whether it’s $20 or $20,000, we must stop coming to the rescue with our checkbooks. Our money must cease being the life preservers that buoy up our adult children, keeping them afloat through yet another storm. We might be amazed at just how well our adult children can swim when given the opportunity to do so. More important, they just might be surprised at their own ability to survive without life support, a powerful lesson that no amount of money can purchase.
Allison Bottke (Setting Boundaries® with Your Adult Children: Six Steps to Hope and Healing for Struggling Parents)
Yale New Haven, which has a tax exemption as a nonprofit institution, was on its way to recording operating income of more than $125 million. Its chief executive would earn a salary of more than $2.5 million, roughly 70 percent more than that of the president of Yale University.
Steven Brill (America's Bitter Pill: Money, Politics, Backroom Deals, and the Fight to Fix Our Broken Healthcare System)
saw that it was the artificial needs of life that made me a slave; the real needs of life were few. A cottage and a hundred pounds a year in a village meant happiness and independence; but dared I sacrifice twice or thrice the income to secure it? The debate went on for years, and it was ended only when I applied to it one fixed and reasoned principle. That principle was that my first business as a rational creature was not to get a living but to live; and that I was
William James Dawson (The Quest of the Simple Life)
7. Use My Secret Weapon for a Final Check My secret weapon to blast writing errors out of the water is Grammarly.com.  They offer a free service that can catch many of the writing errors that your word processor’s spelling and grammar check misses.   What kinds of errors does Grammarly catch? They claim to be able to “instantly fix over 250 types of errors, most of which Microsoft Word can’t find.”  This includes the kinds of errors that I go over in the previous chapter on writing pitfalls.  For example, it can catch it if you use “its” when you should have used “it’s.”  Or say you use
Avery Breyer (Turn Your Computer Into a Money Machine: How to make money from home and grow your income fast, with no prior experience! Set up within a week!)
Fixed Maturity Plan or FMP is a close ended mutual fund plan that invests in debt or fixed-income securities and has a fixed maturity. The
Jigar Patel (NRI Investments and Taxation: A Small Guide for Big Gains)
income, expenses, and finances: How much debt do I want to carry, and for what purpose? Would I like to pay off one or more of my credit accounts? By when? How much money do I want to make next month? Next year? Five years from now? What expenses do I want to cut down or cut out? — My home and community: What changes do I want to make in my current living environment? Do I want to fix up my home or yard? Do I want to move? What is my ideal home like? Where is it? What is my personal corner or room like? Does it have a garden, pool, or pond? Is it near the ocean, a lake, the desert, or mountains? Is it in the city or the country? What part of the world do I live in? What is my neighborhood like? What community projects am I involved in, if any? — My spiritual life: How much time do I want to devote to spiritual practices, such as meditation, classes, church, volunteer work, and so on? What books do I want to read? What classes do I want to take? What spiritual teachers, authors, or leaders do I want to meet, listen to, and/or work with? What spiritual power places do I want to visit, with whom, and when? What spiritual projects do I want to work on? What spiritual gift do I want to give to others? — My health and fitness: What changes do I want to make in my health and fitness? How much time per day or week do I want to spend exercising? What type of exercise program would I most enjoy and benefit from? Where would I exercise? With whom? What physical healings do I want? If I were to manifest my true natural state of perfect health right now, what would my body be like? About what weight or fat percentage would my body feel comfortable and healthy being? What types of foods would be in my regular diet? What would my ideal sleeping pattern be? How would I deal with stress or tension? What unnecessary stressors do I want to get rid of? What toxins (emotional or physical) can I eliminate from my diet or life? — My family life: What type of family life do I want? What about children? How much time do I want to spend with my kids? What do I want to teach or share with them? How can I be closer to my family and/or spend more quality time with them? What type of
Doreen Virtue (I'd Change My Life If I Had More Time: A Practical Guide to Making Dreams Come True)
The progressives pose as the champions not only of fairness and social justice but also of compassion. They are the ones who insist on our obligation to those from whom we have allegedly stolen. Let’s leave aside for the moment whether they are right about the theft. What we do know for sure is that progressives assert there has been a theft. They further acknowledge that they are among the beneficiaries of it. Based on this, they would seem to have a clear obligation to return the stolen goods that they are currently enjoying. We might expect, from this analysis, to discover that progressives are the most generous people in America. We can anticipate that they contribute the highest portion of their incomes and time to help their wronged and less fortunate fellow men and women. The truth, however, is that progressives are the least generous people in America. I saw this personally with Obama, who unceasingly declares that “we are our brother’s keeper” even as he refuses to help his own half brother, George, who lives in a hut in the Huruma slum of Nairobi. I met George in early 2012 when I interviewed him for my film 2016: Obama’s America. A few months after that, when I was back in America, George called me from Kenya to ask me to give him $1,000 because his baby son was sick. Surprised, I asked him, “Why are you calling me? Isn’t there someone else you can call?” He said, “No.” So I sent him the money. I guess on that occasion it was I, not Obama, who proved to be his brother’s keeper. And besides George, the president has other relatives in dire need—his aunt Hawa Auma, for example, sells charcoal on the roadside in rural Kenya, and desperately needs money to get her rotting teeth fixed. Although Obama is aware of their plight, he refuses to help them.
Dinesh D'Souza (Stealing America: What My Experience with Criminal Gangs Taught Me about Obama, Hillary, and the Democratic Party)
The tax cuts enacted in 2001 and 2003—and extended for two years in 2010—in 2011 saved the richest 1.4 million taxpayers (the top 1 percent) more money than the rest of America’s 140,890,000 taxpayers received in total income. Leading to… The fifth dot: Government budgets are squeezed.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
During the same period the typical middle-class taxpayer went from paying 15 percent of income in taxes to 16 percent.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
Whereas the industrial revolution paved the way for a new middle class and lifted overall prosperity, the tech revolution has helped to hollow out the middle class and catalyze a greater level of income inequality than at any time in modern history. And no matter what some tech executives, venture capitalists, and their investors claim, these trade-offs need not be the inevitable consequence of progress.
Maelle Gavet (Trampled by Unicorns: Big Tech's Empathy Problem and How to Fix It)
Buying a bond only for its yield is like getting married only for the sex. If the thing that attracted you in the first place dries up, you’ll find yourself asking, “What else is there?” When the answer is “Nothing,” spouses and bondholders alike end up with broken hearts. On May 9, 2001, WorldCom, Inc. sold the biggest offering of bonds in U.S. corporate history—$11.9 billion worth. Among the eager beavers attracted by the yields of up to 8.3% were the California Public Employees’ Retirement System, one of the world’s largest pension funds; Retirement Systems of Alabama, whose managers later explained that “the higher yields” were “very attractive to us at the time they were purchased”; and the Strong Corporate Bond Fund, whose comanager was so fond of WorldCom’s fat yield that he boasted, “we’re getting paid more than enough extra income for the risk.” 1 But even a 30-second glance at WorldCom’s bond prospectus would have shown that these bonds had nothing to offer but their yield—and everything to lose. In two of the previous five years WorldCom’s pretax income (the company’s profits before it paid its dues to the IRS) fell short of covering its fixed charges (the costs of paying interest to its bondholders) by a stupendous $4.1 billion. WorldCom could cover those bond payments only by borrowing more money from banks. And now, with this mountainous new helping of bonds, WorldCom was fattening its interest costs by another $900 million per year!2 Like Mr. Creosote in Monty Python’s The Meaning of Life, WorldCom was gorging itself to the bursting point. No yield could ever be high enough to compensate an investor for risking that kind of explosion. The WorldCom bonds did produce fat yields of up to 8% for a few months. Then, as Graham would have predicted, the yield suddenly offered no shelter: WorldCom filed bankruptcy in July 2002. WorldCom admitted in August 2002 that it had overstated its earnings by more than $7 billion.3 WorldCom’s bonds defaulted when the company could no longer cover their interest charges; the bonds lost more than 80% of their original value.
Benjamin Graham (The Intelligent Investor)
Environmental influences almost invariably point investors down the path to investment failure. Advertisements flog stocks at equity market peaks, with nary a mention of diversifying fixed-income assets. After stocks suffer bear-market losses, the media tout the beneficial effects of owning bonds as an important part of a well-balanced portfolio. The overwhelming bulk of messages to investors suggest owning yesterday’s darling and avoiding yesterday’s goat.
David F. Swensen (Unconventional Success: A Fundamental Approach to Personal Investment)
Poultry workers are paid very little: in the United States, two cents for every dollar spent on a fast-food chicken goes to workers, and some chicken operators use prison labor, paid twenty-five cents per hour. Think of this as Cheap Work. In the US poultry industry, 86 percent of workers who cut wings are in pain because of the repetitive hacking and twisting on the line. Some employers mock their workers for reporting injury, and the denial of injury claims is common. The result for workers is a 15 percent decline in income for the ten years after injury. While recovering, workers will depend on their families and support networks, a factor outside the circuits of production but central to their continued participation in the workforce. Think of this as Cheap Care. The food produced by this industry ends up keeping bellies full and discontent down through low prices at the checkout and drive-through. That's a strategy of Cheap Food....You can't have low-cost chicken without abundant propane: Cheap Energy. There is some risk in the commercial sale of these processed birds, but through franchising and subsidies, everything from easy financial and physical access to the land on which the soy feed for chickens is grown to small business loans, that risk is mitigated through public expense for private profit. This is one aspect of Cheap Money. Finally, persistent and frequent acts of chauvinism against categories of animal and human life -- such as women, the colonized, the poor, people of color, and immigrants -- have made each of these six cheap things possible. Fixing this ecology in place requires a final element -- the rule of Cheap Lives. Yet at every step of this process, humans resist....
Raj Patel (A History of the World in Seven Cheap Things: A Guide to Capitalism, Nature, and the Future of the Planet)
Six asset classes provide exposure to well-defined investment attributes. Investors expect equity-like returns from domestic equities, foreign developed market equities, and emerging market equities. Conventional domestic fixed-income and inflation-indexed securities provide diversification, albeit at the cost of expected returns that fall below those anticipated from equity investments. Exposure to real estate contributes diversification to the portfolio with lower opportunity costs than fixed-income investments.
David F. Swensen (Unconventional Success: A Fundamental Approach to Personal Investment)
Anticipated receipt of a fixed amount from life insurance proceeds represents a virtual fixed-income asset, suggesting a diminished role for bonds in an investor’s portfolio.
David F. Swensen (Unconventional Success: A Fundamental Approach to Personal Investment)
Sensible investors avoid corporate debt, because credit risk and callability undermine the ability of fixed-income holdings to provide portfolio protection in times of financial or economic disruption.
David F. Swensen (Unconventional Success: A Fundamental Approach to Personal Investment)
From a superficial perspective, tax-exempt bonds appear to offer investors the opportunity to place fixed-income assets in taxable accounts (where their special tax characteristics lessen or eliminate tax consequences), freeing capacity in tax-deferred accounts for higher-tax-burdened assets. Regrettably, the problems of credit risk and callability lessen the appeal of tax-exempt bonds to investors.
David F. Swensen (Unconventional Success: A Fundamental Approach to Personal Investment)
The net amount for property, plant and equipment is achieved after subtracting accumulated depreciation from the fixed assets’ original cost
Mariusz Skonieczny (The Basics of Understanding Financial Statements: Learn how to read financial statements by understanding the balance sheet, the income statement, and the cash flow statement)
well I did get one good line out of Joe Biden... "undermine the dignity of work" = Unless you pay me a shitton of money so I can finally buy a goddamn Yacht, YOU're fucking undermining the dignity of MY work. There. Fixed it.
Dmitry Dyatlov
MR. DIMON, since I have referred to you a great deal in this book, I want to devote a few final words to you. I hope you now see that the only way to do the admirable things you advocate in your public pronouncements—ensure that the needs of all our citizens are being met, lift middle-class incomes, fulfill the promise of equal opportunity, and end climate change—is to do something you have shown no interest in doing:
Robert B. Reich (The System: Who Rigged It, How We Fix It)
A company can do a couple of things with their earnings: Invest it in new projects Buy or fix equipment, buildings Buyback shares outstanding Pay down debt Pay out dividends to shareholders
Giovanni Rigters (Smart Investors Keep It Simple: Investing in dividend stocks for passive income)
the sum total of tears always stays the same' - i.e., that in every nation, no matter what flag or system of government, no matter which gods are worshiped or what the average income is, the sum total of tears, pain, and fear that everyone must pay for his existence is a constant. And so the balance is maintained: well-fed nations wallow in neurosis and excesses, while people plagued with suffering, as we are now, may rely on numbness and apathy to help see them through - if not for that I'd be weeping morning, noon, and night. But I'm not crying and neither is anyone else, and the fact that we aren't is all part of a natural law. Of course if you believe that the earthly sum of tears is fixed and immutable, then you're not very well cut out to improve the world or to act on any kind of grand scale.
Anonymous
It is the fixed nature of caste that distinguishes it from class, a term to which it is often compared. Class is an altogether separate measure of one’s standing in a society, marked by level of education, income, and occupation, as well as the attendant characteristics, such as accent, taste, and manners, that flow from socioeconomic status. These can be acquired through hard work and ingenuity or lost through poor decisions or calamity. If you can act your way out of it, then it is class, not caste.
Isabel Wilkerson (Caste: The Origins of Our Discontents)
Twenty-one of the corporations whose CEOs signed the statement paid no federal income taxes in 2018, courtesy of those lobbying efforts. One of the signers was Jeff Bezos, the multi-billionaire CEO of Amazon and of its Whole Foods subsidiary. Just weeks after the statement appeared, Whole Foods announced it would be cutting medical benefits for its entire part-time workforce—at a total annual savings of what Bezos himself made in two hours.
Robert B. Reich (The System: Who Rigged It, How We Fix It)
In the past, school revenue automatically increased when the value of property rose. In 1996 the legislature “floated” the tax, that is, each year they fixed the amount schools would receive and then technicians calculated the rate needed to produce that amount. School property tax eventually fell about one-third as a result. In 2007, a year with record revenue, legislators cut state income taxes and $150–200 million from annual school revenues. None of these measures had a large immediate effect. All were technical, the gradual, long-term reductions were scarcely noticed by the public. By 2006 the Utah Foundation estimated that the changes together cost schools $1.3 billion, one-third of school spending. In 1996, before the changes, Utah had been fifth among the states in percentage of total personal income devoted to public schools. By 2014, Utah had fallen to thirty-seventh.29 After the mid-1990s, Utah’s economy grew more than the American economy, but Utah school spending fell further behind spending in other states. Republican politicians never say they hold down educational spending on purpose. They always say they spend as much as Utah can afford.
Rod Decker (Utah Politics: The Elephant in the Room)
Starting around 1980, a third American oligarchy emerged. Between 1980 and 2019, the share of the nation’s total household income going to the richest 1 percent more than doubled, while the earnings of the bottom 90 percent barely rose (all adjusted for inflation). CEO pay increased 940 percent, but the typical worker’s pay increased 12 percent. In the 1960s, the typical CEO of a large American company earned about twenty times as much as the typical worker; by 2019, the CEO earned three hundred times as much.
Robert B. Reich (The System: Who Rigged It, How We Fix It)
MBS face all of the regular risks (changing interest rates, for example) linked to bonds and other fixed-income securities, and two that are unique to them. These special risks are tied to the underlying mortgages: homeowners could default (stop making payments, substantially more likely with private-label MBS) or pay off their loans early, either of which would affect investor yield and cash flows.
Michele Cagan (Real Estate Investing 101: From Finding Properties and Securing Mortgage Terms to REITs and Flipping Houses, an Essential Primer on How to Make Money with Real Estate (Adams 101))
MBS can be harder to buy and sell than other types of bonds, as they’re bought mainly by institutional investors. Many MBS are issued and sold in large denominations (like $25,000 minimums), but some are issued at $1,000 (like most other types of bonds). You can trade MBS through specialty bond brokers, which you can find at most major brokerages (like Charles Schwab or Merrill Edge). The easiest way to invest in MBS is through specialty mutual funds or ETFs. Though technically MBS are not fixed-income investments (because the payments can vary monthly), they’re usually included in that category (because they’re bonds).
Michele Cagan (Real Estate Investing 101: From Finding Properties and Securing Mortgage Terms to REITs and Flipping Houses, an Essential Primer on How to Make Money with Real Estate (Adams 101))
It’s unfair that middle- and lower-income Americans have been paying a smaller share of federal income taxes and some pay no income tax at all. There’s nothing unfair about it. Fairness requires that people who make more money pay a higher portion of their incomes in taxes than people with less money. That’s called a progressive tax system, and it’s been a foundation stone of America’s tax code.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
Persons aged 65 years and older comprise only 13 percent of the population, yet account for more than one-third of total outpatient spending on prescription medications in the United States. Older patients are more likely to be prescribed long-term and multiple prescriptions, and some experience cognitive decline, which could lead to improper use of medications. Alternatively, those on a fixed income may abuse another person's remaining medication to save money.
National Institute on Drug Abuse (Prescription Drugs: Abuse and Addiction (Research Report Series))
Regressives say small businesses would be hurt by a higher marginal tax. Don’t believe this, either. Only just over 1 percent of small-business owners earn enough to be taxed at the top rate—and that’s just on the portion of their incomes exceeding $379,000. The
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
It’s scandalous that the four hundred richest Americans should pay an average of 17 percent tax on their incomes, a rate lower than that paid by many in the middle class.
Robert B. Reich (Beyond Outrage: Expanded Edition: What has gone wrong with our economy and our democracy, and how to fix it)
Milken told his boss, Edwin Kantor, who was in charge of all fixed-income trading, that he wanted to create an autonomous unit, with its own sales force, its own traders and its own research people: the high-yield- and convertible-bond department. Selling these low-rated bonds, he explained, was more like selling stocks than it was like selling high-grade bonds. If a bond was rated triple A by a rating agency, institutions bought them based on that rating—not on the salesman’s pitch about the company. But to convince an investor to buy a bond with a C rating you had to tell the company’s story. You had to know the company’s management, its product, its balance sheet, its earnings trend and cash flow—just as you would in trying to sell the stock of a little-known company.
Connie Bruck (The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the JunkBond)
bankruptcy and tax law, fixed-income and equity valuations, and credit analysis.
George E. Schultze (The Art of Vulture Investing: Adventures in Distressed Securities Management (Wiley Finance Book 609))
And, as inflation has fallen, so bonds have rallied in what has been one of the great bond bull markets of modern history. Even more remarkably, despite the spectacular Argentine default – not to mention Russia’s in 1998 – the spreads on emerging market bonds have trended steadily downwards, reaching lows in early 2007 that had not been seen since before the First World War, implying an almost unshakeable confidence in the economic future. Rumours of the death of Mr Bond have clearly proved to be exaggerated. Inflation has come down partly because many of the items we buy, from clothes to computers, have got cheaper as a result of technological innovation and the relocation of production to low-wage economies in Asia. It has also been reduced because of a worldwide transformation in monetary policy, which began with the monetarist-inspired increases in short-term rates implemented by the Bank of England and the Federal Reserve in the late 1970s and early 1980s, and continued with the spread of central bank independence and explicit targets in the 1990s. Just as importantly, as the Argentine case shows, some of the structural drivers of inflation have also weakened. Trade unions have become less powerful. Loss-making state industries have been privatized. But, perhaps most importantly of all, the social constituency with an interest in positive real returns on bonds has grown. In the developed world a rising share of wealth is held in the form of private pension funds and other savings institutions that are required, or at least expected, to hold a high proportion of their assets in the form of government bonds and other fixed income securities. In 2007 a survey of pension funds in eleven major economies revealed that bonds accounted for more than a quarter of their assets, substantially lower than in past decades, but still a substantial share.71 With every passing year, the proportion of the population living off the income from such funds goes up, as the share of retirees increases.
Niall Ferguson (The Ascent of Money: A Financial History of the World)
Profitability can be fixed over time if the business has firm roots, but cash problems are usually a sign that the end is coming. Cash is harder to manipulate. While the income statement uses many estimates and can be subject to deliberate manipulation, cash is easily measured because it is backed by what's in bank accounts.
Georgi Tsvetanov (Visual Finance: The One Page Visual Model to Understand Financial Statements and Make Better Business Decisions)
What American Healthcare Can Learn from Italy: Three Lessons It’s easy. First, learn to live like Italians. Eat their famous Mediterranean diet, drink alcohol regularly but in moderation, use feet instead of cars, stop packing pistols and dropping drugs. Second, flatten out the class structure. Shrink the gap between high and low incomes, raise pensions and minimum wages to subsistence level, fix the tax structure to favor the ninety-nine percent. And why not redistribute lifestyle too? Give working stiffs the same freedom to have kids (maternity leave), convalesce (sick leave), and relax (proper vacations) as the rich. Finally, give everybody access to health care. Not just insurance, but actual doctors, medications, and hospitals. As I write, the future of the Affordable Care Act is uncertain, but surely the country will not fall into the abyss that came before. Once they’ve had a taste of what it’s like not to be one heart attack away from bankruptcy, Americans won’t turn back the clock. Even what is lately being called Medicare for All, considered to be on the fringe left a decade ago and slammed as “socialized medicine,” is now supported by a majority of Americans, according to some polls. In practice, there’s little hope for Italian lessons one and two—the United States is making only baby steps toward improving its lifestyle, and its income inequality is worse every year. But the third lesson is more feasible. Like Italy, we can provide universal access to treatment and medications with minimal point-of-service payments and with prices kept down by government negotiation. Financial arrangements could be single-payer like Medicare or use private insurance companies as intermediaries like Switzerland, without copying the full Italian model of doctors on government salaries. Despite the death by a thousand cuts currently being inflicted on the Affordable Care Act, I am convinced that Americans will no longer stand for leaving vast numbers of the population uninsured, or denying medical coverage to people whose only sin is to be sick. The health care genie can’t be put back in the bottle.
Susan Levenstein (Dottoressa: An American Doctor in Rome)
They gain distance from the anxious obsessions of local mind. Their internal chemistry changes as “feel-good” neurotransmitters like serotonin, dopamine, anandamide, and oxytocin flood their brains. In this state they gain a nonlocal perspective. They are open to an infinite range of possible options and outcomes. The self, rather than being trapped in a limited fixed local reality, is able to try on different possibilities. This “knocks out filters we normally apply to incoming information,” leading to associative leaps that facilitate problem solving and super-creativity.
Dawson Church (Mind to Matter: The Astonishing Science of How Your Brain Creates Material Reality)
do would share in the additional bounty; that many millions of middle-class jobs and careers would vanish, along with fixed private pensions and reliable healthcare; that a college degree would simultaneously become unaffordable and almost essential to earning a good income;
Kurt Andersen (Evil Geniuses: The Unmaking of America)
well-to-do would share in the additional bounty; that many millions of middle-class jobs and careers would vanish, along with fixed private pensions and reliable healthcare; that a college degree would simultaneously become unaffordable and almost essential to earning a good income;
Kurt Andersen (Evil Geniuses: The Unmaking of America)
By 1994 sales and trading was driving most of the firm’s revenues, and its engine was fueled by derivatives. Although my new group, known as DPG—for Derivative Products Group—employed only a few dozen people, it was a major hub at the firm. DPG was centered between the firm’s two core businesses: the Investment Banking Division (IBD) and the Fixed Income Division (FID). My first observation at Morgan Stanley was that the most difficult part of working there would be memorizing all the damn acronyms.
Frank Partnoy (FIASCO: Blood in the Water on Wall Street)
The main components of an OP1 narrative are: Assessment of past performance, including goals achieved, goals missed, and lessons learned Key initiatives for the following year A detailed income statement Requests (and justifications) for resources, which may include things like new hires, marketing spend, equipment, and other fixed assets Each group works in partnership with its finance and human resources counterparts to create their detailed plan, which is then presented to a panel of leaders.
Colin Bryar (Working Backwards: Insights, Stories, and Secrets from Inside Amazon)
The Generous Family “The generous will prosper; those who refresh others will themselves be refreshed.” -Proverbs 11:25 One of the greatest and most consistent fruits of family-based stewardship of resources is the outpouring of abundant generosity. Living on a fixed income determined by someone else on a fixed work schedule dictated by someone else who works to direct your best energy toward their ends can leave us with a sense of powerlessness with little left over to give to others. Faced with the frustration this can often create, it becomes easier just to give ourselves over to our work identity. When we do, we tend to live a disintegrated life, always needing to guard against additional commitments since we often have to fight to give our family enough of what they need from whatever is left over, which can put a damper on a spirit of abundant generosity. Contrast that with income streams that produce money in ways that aren’t directly connected to how many hours you worked this week. This begins to disentangle the connection between our time and energy and our money.
Jeremy Pryor (Family Revision: How Ancient Wisdom Can Heal the Modern Family)
According to Ripley, the sketchy disclosures by International Match continued to be typical of those by leading companies. National Biscuit Company’s income statement from 1925 was just three-by-four inches, and didn’t need even that much space – it included just a single entry labeled “Earnings, Year 1925”.11 The Royal Baking Powder Company didn’t issue any financial statements at all.12 Many corporate reports contained disclaimers that the official income account “does not by any means give a clear picture of the annual earning power” or that “the balance sheet by no means discloses the true value of the company’s fixed assets.
Frank Partnoy (The Match King: Ivar Kreuger and the Financial Scandal of the Century)
Once again, a single sentence would hold the key. I found it in The Economic Status of Black Women: An Exploratory Investigation, a 1990 staff report of the U.S. Commission on Civil Rights: On average married black women contribute 40 percent to household income compared with only 29 percent for white women.° Simply put, all wives did not contribute to their households in the same way: Black women were likely to earn as much (or more) money as their husbands, while white women were likely to earn much less. This was certainly true in the case of my parents (whose income was more or less equal most years). But the joint tax return system, under which most married couples file their taxes together, offers the greatest benefits to households where one spouse contributes much less than the other to household income. That meant couples like my parents-my hardworking, home-owning, God-fearing parents, who wanted to earn a little bit more to enjoy their lives after raising two daughters-weren't getting those breaks. My parents' tax bill was so high because they were married to each other. Marriage-which many conservatives assure us is the road out of black poverty -is in fact making black couples poorer. And because the IRS does not publish statistics by race, we would never know. It's long been understood that blacks and whites live in separate and unequal worlds that shape whom we marry, where we buy a home, whom we have as neighbors, and how we build a future for our children. Race affects where we go to college and how we pay for it. Race influences where we work and how much we are paid. What my research showed was that all of this also determines how much we pay in taxes. Taxpayers bring their racial identities to their tax returns. As in so many parts of American life, being black is more likely to hurt and being white is more likely to help. The implications of this go far beyond the forms you file every April. In the long run, tax policy affects whether and how you'll be able to build wealth. If you're eligible for tax breaks, you either pay less in taxes throughout the year or receive a larger refund in the spring. If, like my parents, you're considered ineligible for a particular tax break, you never see that money. One missed tax break may not sound like much, but those dollars not given to Uncle Sam can be put into your bank account, invested in stocks or property, or used to build home equity through improvements or repairs every year. Think of that money as an annual pay raise – but if you do not get it, you cannot save it. Over time those dollars, or the lack of them, add up to increased or depleted wealth
Dorothy A. Brown (The Whiteness of Wealth: How the Tax System Impoverishes Black Americans—And How We Can Fix It)
The wit of man,” said Democratic Congressman George Pendleton of Ohio, “has never discovered a means by which paper currency can be kept at par value, except by its speedy, cheap, certain convertibility into gold and silver.” If this bill passed, “prices will be inflated . . . incomes will depreciate; the savings of the poor will vanish; the hoardings of the widow will melt away; bonds, mortgages, and notes—everything of fixed value—will lose their value.
James M. McPherson (Battle Cry of Freedom: The Civil War Era)
There is no magic bullet, secret formula, or quick fix to success. You don’t make $200,000 a year by spending two hours a day on the internet, lose thirty pounds in a week with a “Hollywood diet,” rub twenty years off your face with a cream, fix your love life with a pill, or find lasting success with a get-rich-quick scheme. It would be great if you could buy your success, fame, self-esteem, good relationships, health, and well-being in a nicely clam-shelled package at the local Walmart, but that’s not how it works.
Darren Hardy (The Compound Effect (10th Anniversary Edition): Jumpstart Your Income, Your Life, Your Success)
All the losses came back on those who had fixed incomes and salaries; the only gainers were speculators, and those fortunate few whose incomes were in dollars.
Upton Sinclair (Between Two Worlds (The Lanny Budd Novels))
30 percent—Domestic equities: US stock funds, including small-, mid-, and large-cap stocks 15 percent—Developed-world international equities: funds from developed foreign countries, including the United Kingdom, Germany, and France 5 percent—Emerging-market equities: funds from developing foreign countries, such as China, India, and Brazil. These are riskier than developed-world equities, so don’t go off buying these to fill 95 percent of your portfolio. 20 percent—Real estate investment trusts: also known as REITs. REITs invest in mortgages and residential and commercial real estate, both domestically and internationally. 15 percent—Government bonds: fixed-interest US securities, which provide predictable income and balance risk in your portfolio. As an asset class, bonds generally return less than stocks. 15 percent—Treasury inflation-protected securities: also known as TIPS, these treasury notes protect against inflation. Eventually you’ll want to own these, but they’d be the last ones I’d get after investing in all the better-returning options first.
Ramit Sethi (I Will Teach You to Be Rich: No Guilt. No Excuses. No B.S. Just a 6-Week Program That Works.)
Incoming call: Adam Reynolds. I let those words fill my vision for a moment. Not because I intend to make him wait; it’s simply that for a second I freeze. Blake’s dad is a wolf, and I feel very much like the rabbit. The last time Adam and I talked, it didn’t turn out particularly well. But right now, the CEO of Cyclone—and the man who, incidentally, still thinks I’m dating his son—is calling me. What can I do? I hit accept. He appears on the screen: messy pepper-gray hair and beard scruff in need of a shave. His gaze fixes on mine. “Tina.” His voice is just a little hoarse. He clears his throat and sniffs. “Is Blake there?” “No.” “Good.” He frowns. “Look. Blake’s a little distant right now. Is something going on with him?” Something is obviously going on between them, but even I can’t tell what it is, and I suspect I know about as much as anyone on the planet except these two. I shake my head. “I’m not talking to you about Blake.” “Yeah.” He blows out a breath. “Probably just as well that you’re loyal to him. I just…” He pauses, tapping his fingers against his cheek. “It’s not that,” I interject. “It’s just that you’re an…” I choke back the word I’d been planning to put in that blank. Last time was bad enough. “You’re a little intense,” I finish. For a moment, he stares at me. Then, ever so slowly, he smiles. “Don’t start holding out on me now. I’m an asshole.” My surprise must show, because he shrugs a shoulder. “I’ve never claimed otherwise.” I suspect this is as close as Adam Reynolds will ever come to apologizing for his behavior in that restaurant. “Blake thinks you’re not an asshole.” “Blake,” Mr. Reynolds says with a roll of his eyes, “is a ridiculously good kid. There’s a reason I’m a little protective of him. I’m always afraid people will take advantage.” I don’t say anything. A little protective is what he is? Despite my silence, he sighs and waves his hand. “Good point,” he mutters in response to the thing I didn’t say. “It hasn’t happened yet, and God knows if he were as naïve as I really feared, it would have by now. Of all the women he could have had, he did choose you.” I think this is intended as a compliment. “Still,” his dad continues. “I worry. Is everything okay with him?” I have the distinct impression that even though Blake has never said so, most of his problems lie with this man. Somehow. Some way. “This is a conversation you should have with Blake.” He puts his fingers to the bridge of his nose. “Fuck.” He doesn’t move for a few moments. And then—of all things—he sniffles. Unconvincingly. “Mr. Reynolds, are you fake crying to try to get my sympathy?” The hand lowers. He glowers at me—obviously dry-eyed. “Fuck me,” he says. “First, call me Adam. Mr. Reynolds makes me sound like some bullshit old fart. Second, I don’t fucking cry. I especially don’t fake cry. Emotional manipulation is for morons who don’t have the strength of will to get people on their side with reason. I have a cold.” “Aw. Poor baby. You should get some rest.” I incline my head toward him, and then widen my eyes. “Oh, wait. I forgot. You can’t.” He shakes his head, but he’s smiling. “Yeah, yeah. My kid has good taste. I’m fucking things up for you. I hope it won’t be too much of a disturbance.” “You know.” I swallow. “I think Blake gave you the wrong impression about us.” “What, that he’s into you more than you’re into him? I got that from him.” I swallow. “That you need to be convinced? That he’s going to end up convincing you, no matter what you’re telling yourself right now? I let out a breath. “Exactly.” Adam points a finger at me. “That’s what I thought. My money’s on my boy. But hey, don’t tell me what’s going on. Who needs details? Surely not his own father. I’m not invasive.” “Right. Calling me in the middle of the night when Blake’s not around isn’t invasive at all.
Courtney Milan (Trade Me (Cyclone, #1))
top down method is where the agent starts with an absurdly high monthly payment, like $ 200, and waits for the prospect to react to that. The absurd amount and the prospect’s reaction to it can actually lighten the mood if agents handle the situation suavely. Most seniors will recoil and exclaim, “No way! I can’t afford that much on a fixed income!” The agent might commiserate by saying, “I don’t blame you, Mrs. Jones. That is a ridiculous bill to pay!” Then the agent goes down from there, maybe to $ 150, and waits for the prospect to respond. The agent then goes lower and lower, feeling out the senior’s financial comfort zone, until the prospect signals an amount that is affordable. This technique has the potential to help agents write larger cases because you aren’t assuming how much (or how little) the prospect can afford.
Glen Shelton (How to Qualify, Present & Sell Final Expense and Medicare Supplements to Seniors)
They had their root in the conviction that money was a divine stewardship, and that all money had to be received and dispensed in direct fellowship with God Himself. This led him to adopting the following four great rules: (1) not to receive any fixed salary, both because in the collecting of it there was often much that was at variance with the freewill offering with which God’s service is to be maintained, and in the receiving of it there was a danger of placing more dependence on human sources of income than on the living God Himself; (2) never to ask any human being for help, however great the need might be, but to make his wants known to the God who has promised to care for His servants and to hear their prayer; (3) to take the command to sell what ye have and give alms literally and never save up money but spend all that God entrusted to him on God’s poor for the work of His kingdom; and (4) to take Romans 13:8, Owe no one anything, literally, and never buy on credit or be in debt for anything, but to trust God to provide. This manner of living was not easy at first.
Andrew Murray (With Christ in the School of Prayer: A 31-Day Study)
Anyone who is awake nowadays knows that Republicans and Democrats seem to disagree on most issues — and neither side seems able to be persuaded by the other. Why? After analyzing the data from 44 years of studies and more than 22,000 people in the United States and Europe, John Jost and his associates86 have concluded that these disagreements are not simply philosophic disputes about how, say, to end poverty or fix schools; they reflect different ways of thinking, different levels of tolerance for uncertainty, and core personality traits, which is why conservatives and liberals are usually not persuaded by the same kinds of arguments. As a result of such evidence, some evolutionary psychologists maintain that ideological belief systems may have evolved in human societies to be organized along a left–right dimension, consisting of two core sets of attitudes: (1) whether a person advocates social change or supports the system as it is, and (2) whether a person thinks inequality is a result of human policies and can be overcome or is inevitable and should be accepted as part of the natural order.87 Evolutionary psychologists point out that both sets of attitudes would have had adaptive benefits over the millennia: Conservatism would have promoted stability, tradition, order, and the benefits of hierarchy, whereas liberalism would have promoted rebelliousness, change, flexibility, and the benefits of equality.88 Conservatives prefer the familiar; liberals prefer the unusual. Every society, to survive, would have done best with both kinds of citizens, but you can see why liberals and conservatives argue so emotionally over issues such as income inequality and gay marriage. They are not only arguing about the specific issue, but also about underlying assumptions and values that emerge from their personality traits. It is important to stress that these are general tendencies. Most people enjoy stability and change in their lives, perhaps in different proportion at different ages; many people will change their minds in response to new situations and experiences, as was the case in the acceptance of gay marriage; and until relatively recently in American society, the majority of members of both political parties were willing to compromise and seek common ground in passing legislation. Still, such differences in basic orientation help explain the frustrating fact that liberals and conservatives so rarely succeed in hearing one another, let alone in changing one another’s minds.
Elliot Aronson (The Social Animal)
The service personnel and all other staff were paid weekly in cash whatever salary was fixed by the Commanding Officer. No Treasury approval was required. And what is more, these lucky people had to pay no income tax at all on their earnings. They were so hush-hush that, so far as the country was concerned, they just did not exist.
Stuart Macrae (Winston Churchill's Toyshop: The Inside Story of Military Intelligence)
The second ingredient on which our identity is based is the same as for the chariot. In the process of reflecting the world, we organize it into entities: we conceive of the world by grouping and segmenting it as best we can in a continuous process that is more or less uniform and stable, the better to interact with it. We group together into a single entity the rocks that we call Mont Blanc, and we think of it as a unified thing. We draw lines over the world, dividing it into sections; we establish boundaries, we approximate the world by breaking it down into pieces. It is the structure of our nervous system that works in this way. It receives sensory stimuli, elaborates information continuously, generating behavior. It does so through networks of neurons, which form flexible dynamic systems that continuously modify themselves, seeking to predict109—as far as possible—the flow of information intake. In order to do this, the networks of neurons evolve by associating more or less stable fixed points of their dynamic with recurring patterns that they find in the incoming information, or—indirectly—in the procedures of elaboration themselves. This is what seems to emerge from the very lively current research on the brain.110 If this is so, then “things,” like “concepts,” are fixed points in the neuronal dynamic, induced by recurring structures of the sensorial input and of the successive elaborations. They mirror a combination of aspects of the world that depends on recurrent structures of the world and on their relevance in their interactions with us. This is what a chariot consists of. Hume would have been pleased to know about these developments in our understanding of the brain.
Carlo Rovelli (The Order of Time)
The powerful blast first entered the director through the starboard hatchway, where Dvorak sat—in a direct line with the incoming fireball—hands tight on his steering wheel’s brodie knobs. The concussion and fireball hit him first—full force—while it raced starboard to port. As if a rag doll, Dvorak was at once lifted from his position, and slammed back, hard, against his fixed metal seat. The force then caught Stratton in the face and chest; grabbed and slammed him against the bulkhead and, according to Stratton, “…rattled me around like a piñata.” “I thought I was going blind, from the fire”, Stratton would tell Lauren, years later. On the platform, Zeke had already decided to head back inside. He managed to grab hold of the hatchway handles just as the blast raced through and circumnavigated the director. The force of the concussion hit him in the back, and face-on. As if a spirit’s presence had seized his body, it grabbed at Zimmerman’s torso and bent him forward, then backwards. The impact ripped his grip from the door handles, sucked him into the flames, and dispatched him, hard, against the platform’s railing. Inside, Hollowell was propelled backwards, across the steel cube. His head slammed against the range finder with a forceful blow, and his body was dumped next to Lott—who had pulled Lauren’s blanket tighter across his own head. The hellish fireball had sucked oxygen from the cube, shot across the steel shell, and merged with a second blast of flames through the port and rear hatchways. As if in a boxing match—in a futile attempt to protect his face from being hit by the fire and heat—Lauren held tight to the range finder. Instinct caused him to raise his right arm around the viewport, for protection.
Edward McGrath (Second to the Last to Leave USS Arizona - SIGNED Copy - Interactive Edition: Memoir of a Sailor - The Lauren F. Bruner Story)
Tackling difficult problems requires holding many ideas at once, and not being rigidly attached to any of them, as we saw in Chapter 3. Some may even be mutually exclusive. When we gain distance from our local minds in meditation, this opens up perceptual space. People in flow states can consider many options. Kotler notes that this “knocks out the filters we normally apply to incoming information” and loosens up our identification with a single fixed reality. This greatly expands the range of possibilities our minds can juggle, opening up our creativity and productivity. Meditation produces a high-performance brain, able to solve wicked problems, as we’ll discover in Chapter 8. Take a deep breath, and think for a moment about your life. Imagine being 500% more able to solve knotty problems. Picture yourself being 490% better at acquiring new skills and eight times better at conceptual tasks. That’s mental superpower! What might your health, your work, your love life, and your finances look like if you had that superpower? Probably a whole lot better than they do now.
Dawson Church (Bliss Brain: The Neuroscience of Remodeling Your Brain for Resilience, Creativity, and Joy)
SOFR is a combination of three Repo rates: deliverable GC, GCF, and Tri-Party. The deliverable GC component is an average of all inter-dealer U.S. Treasury General Collateral trades that settle in FICC (Fixed Income Clearing Corp.). GCF is short for General Collateral Finance, and it’s basically inter-dealer Tri-Party trades that settle within FICC. The last component is the Tri-Party rate, and this rate is very important for understanding SOFR. Tri-Party is the average rate for Tri-Party trades that settle at the Bank of New York (BONY). Whereas GC and GCF are dealer-to-dealer rates, Tri-Party is a dealer-to-customer rate. What does that mean? It’s where the Street borrows money from customers, not from each other. Dealer-to-customer means the rate is on the offered side of the market, or lower if the dealer marks up the rate, which we commonly do. The Tri-Party rate is always lower than the inter-dealer rate. And it means that SOFR should always trade below Repo GC.
Scott E.D. Skyrm (The Repo Market, Shorts, Shortages, and Squeezes)
Depreciation is considered a non-cash expense because the money required to purchase a particular fixed asset has already been spent.
Mariusz Skonieczny (The Basics of Understanding Financial Statements: Learn how to read financial statements by understanding the balance sheet, the income statement, and the cash flow statement)
What about real estate? In general, it holds its real value and yields rental income, but owning property isn’t so much an investment as it is a job. If you like fixing toilets and dealing with drug-addled, gun-toting deadbeat tenants, be my guest.
William J. Bernstein (The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio)