Interest Rates Quotes

Maybe it was true, and being a girl could be about interest rates and skinny jeans, riding bikes and wearing pink. Not about any one thing, but everything.

I've begun worshipping the sun for a number of reasons. First of all, unlike some other gods I could mention, I can see the sun. It's there for me every day. And the things it brings me are quite apparent all the time: heat, light, food, and a lovely day. There's no mystery, no one asks for money, I don't have to dress up, and there's no boring pageantry. And interestingly enough, I have found that the prayers I offer to the sun and the prayers I formerly offered to 'God' are all answered at about the same 50% rate.

Sleep is the interest we have to pay on the capital which is called in at death; and the higher the rate of interest and the more regularly it is paid, the further the date of redemption is postponed.

To grasp why people bury themselves in debt, you don’t need to study interest rate: you need to sturdy the history of greed , insecurity and optimism.

A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.

Ah, well, let's not borrow trouble; the rate of interest is too high.

What we, or at any rate what I, refer to confidently as memory--meaning a moment, a scene, a fact that has been subjected to a fixative and thereby rescued from oblivion--is really a form of storytelling that goes on continually in the mind and often changes with the telling. Too many conflicting emotional interests are involved for life ever to be wholly acceptable, and possibly it is the work of the storyteller to rearrange things so that they conform to this end. In any case, in talking about the past we lie with every breath we draw.

Is there anything as incredible as the love story of your own parents? Anything as hard to grasp as the fact that those two over-the-hill players, permanently on the disabled list, were once in the starting lineup? It's impossible to imagine my father, who in my experience was aroused mainly by the lowering of interest rates, suffering the acute, adolescent passions of the flesh.

Normal is over rated, and so is spelling.You want perfection? Go out and buy a spell check, but know this: Spellcheck won't keep you warm at night or love you unconditionaly. I will stick to being abnormal and a bad speller. Makes life more interesting. After all, what fun is there in being normal or perfect?

Sleep is the interest we have to pay on the capital which is called in at death. The higher the interest rate and the more regularly it is paid, the further the date of redemption is postponed

Because politics is the science of the possible, it only appeals to second-rate minds. The first raters only interested in the impossible

Raising interest rates is voo-doo. You can't deal with a global system problem by trying to solve it with this.

This Vladimir Brusiloff to whom I have referred was the famous Russian novelist. . . . Vladimir specialized in gray studies of hopeless misery, where nothing happened till page three hundred and eighty, when the moujik decided to commit suicide. . . . Cuthbert was an optimist at heart, and it seemed to him that, at the rate at which the inhabitants of that interesting country were murdering one another, the supply of Russian novelists must eventually give out.

We’re always being made promises,’ she said. ‘You make them yourself and you listen to others giving theirs. Politicians are always going on about providing a better quality of life for people as they get older, and a health service in which nobody ever gets bedsores. Banks promise you high interest rates, some food promises to make you lose weight if you eat it, and body creams guarantee old age with fewer wrinkles. Life is quite simply a matter of cruising along in your own little boat through a constantly changing but never-ending stream of promises. And how many do we remember? We forget the ones we would like to remember, and we remember the ones we’d prefer to forget.

The spectacle of what is called religion, or at any rate organised religion, in India and elsewhere, has filled me with horror and I have frequently condemned it and wished to make a clean sweep of it. Almost always it seemed to stand for blind belief and reaction, dogma and bigotry, superstition, exploitation and the preservation of vested interests.

The bankers might not have said it in so many words, but gradually their strategy emerged: Target families who were already in a little trouble, lend them more money, get them entangled in high fees and astronomical interest rates, and then block the doors to the bankruptcy exit if they really got in over their heads.

Interestingly, I’ve seen the highest success rates with husbands and wives who try fasting together: the mutual support is a big help and makes fasting far easier.

... low interest rates and cheap credit also cause people to act foolishly or greedily ...

Changes in interest rates can have significant impacts on debt securities risk.

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

Treating the causes of higher prices and higher interest rates in low-income neighborhoods as being personal greed or exploitation, and trying to remedy it by imposing price controls and interest rate ceilings only ensures that even less will be supplied to people living in low-income neighborhoods thereafter.

I am at a loss to understand why people hold Miss Austen's novels at so high a rate, which seem to me vulgar in tone, sterile in artistic invention, imprisoned in their wretched conventions of English society, without genius, wit, or knowledge of the world. Never was life so pinched and narrow. ... All that interests in any character [is this]: has he (or she) the money to marry with? ... Suicide is more respectable.

Christian communities arising from celebration do not want their lives changed, because their lives are in a good place. Tax rates should remain low. Home prices and stocks should continue to rise unabated, while interest rates should remain low to borrow more money to feed a lifestyle to which they have become accustomed.

...during the Asian financial crisis the United States and other Western countries demanded that the Asians take three steps--let bad banks fail, keep spending under control, and keep interest rates high. In it own crisis, the West did exactly the opposite on all three fronts.

Why do we still cling to the intellectually retarded notion that liberty can be obtained, maintained, or lost at the end of a gun barrel? When you're working 3 minimum wage jobs to make the minimum payment on a pair of socks you bought 12 years ago because your credit card company slapped you with an interest rate that would make a loan shark holler WTF! ... well, no one needs to hold a gun to your head. Your ass has already been sold down the river.

Bond holders have to account for a variety of risks including interest rate risk and inflation risk.

He became convinced that ordinary commercial financing could be done for a service charge plus an insurance fee amounting to much less that the current rates of interest charged by banks, whose rates were based on supply and demand, treating money as a commodity rather than as a sovereign state's means of exchange.

If human nature were not base, but thoroughly honourable, we should in every debate have no other aim than the discovery of truth; we should not in the least care whether the truth proved to be in favour of the opinion which we had begun by expressing, or of the opinion of our adversary. That we should regard as a matter of no moment, or, at any rate, of very secondary consequence; but, as things are, it is the main concern. Our innate vanity, which is particularly sensitive in reference to our intellectual powers, will not suffer us to allow that our first position was wrong and our adversary’s right. The way out of this difficulty would be simply to take the trouble always to form a correct judgment. For this a man would have to think before he spoke. But, with most men, innate vanity is accompanied by loquacity and innate dishonesty. They speak before they think; and even though they may afterwards perceive that they are wrong, and that what they assert is false, they want it to seem thecontrary. The interest in truth, which may be presumed to have been their only motive when they stated the proposition alleged to be true, now gives way to the interests of vanity: and so, for the sake of vanity, what is true must seem false, and what is false must seem true.

Single, childless women are the only women who report that they have the time and freedom to pursue interests, ambitions, and hobbies at the same rate as married heterosexual men do.

the decrease in the top marginal income tax rate led to an explosion of very high incomes, which then increased the political influence of the beneficiaries of the change in the tax laws, who had an interest in keeping top tax rates low or even decreasing them further and who could use their windfall to finance political parties, pressure groups, and think tanks.

We ride too high on deceptive notions of power and security and control and then when it all comes crashing down on us the low is made deeper by the high. By its precipitousness, but also by the humiliation you feel for having failed to see the plummet coming. . . . Lulled by years of relative peace and prosperity we settle into micromanaging our lives with our fancy technologies and custom interest rates and eleven different kinds of milk, and this leads to a certain inwardness, an unchecked narrowing of perspective, the vague expectation that even if we don't earn them and nurture them the truly essential amenities will endure forever as they are. We trust that someone else is looking after the civil liberties shop, so we don't have to. Our military might is unmatched and in any case the madness is at least an ocean away. And then all of a sudden we look up from ordering paper towels online to find ourselves delivered right into the madness. And we wonder: How did this happen? What was I doing when this was in the works? Is it too late to think about it now? . . .

. . . the farmer is the man The Farmer is the man Lives on credit till the fall With the interest rates so high It's a wonder he don't die And the mortgage man's the one that gets it all. The farmer is the man The farmer is the man Lives on credit till the fall And his pants are wearing thin His condition it's a sin He's forgot that he's the man that feeds them all.

THE PROJECTIONIST The projectionist can make you believe whatever she believes. If she believes interest rates are going to fall, and you have a short conversation with the Projectionist, you will too. If she believes that, no, in fact, you didn't signal when you turned left, causing the Projectionist to ram her car into the back of yours, so will you. Her downfall began when she fell in love with the Inverse. She absolutely, 100% fell in love with the Inverse. She projected all this emotion onto him but the Inverse, being the Inverse, simply reflected the opposite of everything she was sending. Strangely, neither the Inverse nor the Projectionist can let go of the relationship.

If the government controls, guarantees, channels, or directs investment, it is not capitalism. Pivotal to the investment process is interest rates. For entrepreneurs to control capital, interest rates must reflect its real cost rather than merely the cost of printing money. Otherwise the money printers will dominate investment.

There was such an interesting exchange rate in this woman's mind...whenever she remembered anyone giving her anything, they only gave a very little and kept the lion's share to themselves. But whenever she remembered giving anyone anything she gave a lot, so much it almost ruined her.

The Extrovert Ideal has been documented in many studies, though this research has never been grouped under a single name. Talkative people, for example, are rated as smarter, better-looking, more interesting, and more desirable as friends. Velocity of speech counts as well as volume: we rank fast talkers as more competent and likable than slow ones.

Europeans extracted an estimated 222,505,049 hours of forced labour from African slaves between 1619 and 1865. Valued at the US minimum wage, with a modest rate of interest, that’s worth $97 trillion – more than the entire global GDP.

Souls, like rays of light, exist in perfect, parallel equality, always. But for when infinitely short a time they pass through the rough and delaying mechanism of life, they separate and disentangle, encountering different obstacles, traveling at different rates, like light refracted by the friction of things in its path. Emerging on the other side, they run together once more, in perfection. For the short and difficult span when confounded by matter and time they are made unequal, they try to bind together as they always were and eventually will be. The impulse to do so is called love. The extend to which they exceed is called justice. And the energy lost in the effort is called sacriface. On the infinite scale of things, this life is to a spark what a spark is to all the time man can imagine, but still, like a sudden rapids or bend in the river, it is that to which the eye of God may be drawn from time to time out of interest in happenstance.

Why couldn't relationships be reciprocal, both people steadily accruing interest at the same rate?

Everyone knows about market risk and management risk. But there are a variety of non obvious risks to consider when managing a portfolio of investments. They include political risk, share premiums and discounts risk, Interest Rate risk, Income Risk, Tax law changes risk, valuation risk, and liquidity risk, among others. This is why professional active portfolio management is the way to go.

Unfortunately, the term “identity politics” has been weaponized. It is most often used by speakers to describe politics as practiced by members of historically marginalized groups. If you’re black and you're worried about police brutality, that’s identity politics. If you’re a woman and you’re worried about the male-female pay gap, that’s identity politics. But if you’re a rural gun owner decrying universal background checks as tyranny, or a billionaire CEO complaining that high tax rates demonize success, or a Christian insisting on Nativity scenes in public squares — well, that just good, old fashioned politics. With a quick sleight of hand, identity becomes something that only marginalized groups have. The term “identity politics,” in this usage, obscures rather than illuminates; it’s used to diminish and discredit the concerns of the weaker groups by making them look self-interested, special pleading in order to clear the agenda for the concerns of stronger groups, which are framed as more rational, proper topics for political debate. But in wielding identity as a blade, we have lost it as a lens, blinding ourselves in a bid for political advantage. WE are left searching in vaid for what we refuse to allow ourselves to see.

If you read a story that really involves you, your body will tell you that you are living through the experience. You will recognize feelings that have physical signs - increased heart rate, sweaty palms, or calm, relaxed breathing and so on, depending on your mood. These effects are the same you would feel in similar real-life experiences - fear, anger, interest, joy, shame or sadness. Amazingly, you can actually 'live' experience without moving anything but your eyes across a page.

To further encourage flow of credit to what we thought were stressed sectors, we extended regulatory forbearance to banks by relaxing the risk weights and provisioning norms governing bank loans to the stressed sectors. This

from Uppsala, a Swedish city that doesn’t interest many people. Even the inhabitants of Uppsala* themselves are embarrassed; the name of their city sounds almost like an excuse. Sweden has the highest suicide rate in the world.

Interestingly, according to data from the U.S. Census Bureau and FBI crime reports, the states with the highest levels of gun ownership do not have the highest homicide rates. For comparison, Illinois, which has some of the strictest gun regulations in the country, has nearly three times the gun-related deaths as Alabama, a state which has a roughly 30 percent higher firearm ownership rate.

Here one comes upon an all-important English trait: the respect for constituitionalism and legality, the belief in 'the law' as something above the state and above the individual, something which is cruel and stupid, of course, but at any rate incorruptible. It is not that anyone imagines the law to be just. Everyone knows that there is one law for the rich and another for the poor. But no one accepts the implications of this, everyone takes for granted that the law, such as it is, will be respected, and feels a sense of outrage when it is not. Remarks like 'They can't run me in; I haven't done anything wrong', or 'They can't do that; it's against the law', are part of the atmosphere of England. The professed enemies of society have this feeling as strongly as anyone else. One sees it in prison-books like Wilfred Macartney's Walls Have Mouths or Jim Phelan's Jail Journey, in the solemn idiocies that take places at the trials of conscientious objectors, in letters to the papers from eminent Marxist professors, pointing out that this or that is a 'miscarriage of British justice'. Everyone believes in his heart that the law can be, ought to be, and, on the whole, will be impartially administered. The totalitarian idea that there is no such thing as law, there is only power, has never taken root. Even the intelligentsia have only accepted it in theory. An illusion can become a half-truth, a mask can alter the expression of a face. The familiar arguments to the effect that democracy is 'just the same as' or 'just as bad as' totalitarianism never take account of this fact. All such arguments boil down to saying that half a loaf is the same as no bread. In England such concepts as justice, liberty and objective truth are still believed in. They may be illusions, but they are powerful illusions. The belief in them influences conduct,national life is different because of them. In proof of which, look about you. Where are the rubber truncheons, where is the caster oil? The sword is still in the scabbard, and while it stays corruption cannot go beyond a certain point. The English electoral system, for instance, is an all but open fraud. In a dozen obvious ways it is gerrymandered in the interest of the moneyed class. But until some deep change has occurred in the public mind, it cannot become completely corrupt. You do not arrive at the polling booth to find men with revolvers telling you which way to vote, nor are the votes miscounted, nor is there any direct bribery. Even hypocrisy is powerful safeguard. The hanging judge, that evil old man in scarlet robe and horse-hair wig,whom nothing short of dynamite will ever teach what century he is living in, but who will at any rate interpret the law according to the books and will in no circumstances take a money bribe,is one of the symbolic figures of England. He is a symbol of the strange mixture of reality and illusion, democracy and privilege, humbug and decency, the subtle network of compromises, by which the nation keeps itself in its familiar shape.

Almost every Fed chairman in the past 60 years has manipulated interest rates to brighten the economic outlook for incumbent presidents or newly elected presidents who won by large margins. The purchasing power of the U.S. dollar has fallen 94 percent in the past 100 years. The only way you can create inflation is by creating more money that is backed by the same reserve assets; the Fed is the only entity that can create more money. Ben Bernanke’s quantitative easing (QE) programs have pumped billions of unfunded dollars into the economy, thereby setting us up for massive inflation in the very near future. If this isn’t a form of financial terrorism, it is incompetence of the highest order.

Middle-class and more affluent blacks are also disproportionately the targets of subprime mortgage loans, paying much higher rates of interest than comparable white borrowers, and are subjected, according to the available evidence, to racial profiling of all types.

Googlers working in engineering or product management can nominate themselves for promotion.xlv Interestingly enough, we found that women are less likely to nominate themselves for promotion, but that when they do, they are promoted at slightly higher rates than men.

Dan Ariely did a study in which people were given the opportunity to cheat on a test. (They didn’t know the researchers administering the test would be able to tell.) Of course, those who exploited this performed better, but here’s what’s interesting: when surveyed about how they thought they’d do on another test, the cheaters rated themselves higher than non-cheaters. In other words, despite having succeeded due to deception, they attributed their success to being smarter. In deceiving others they ended up deceiving themselves. That’s

If we are going to create a financial system that works for all Americans, we have got to stop financial institutions from ripping off the American people by charging sky-high interest rates and outrageous fees. In my view, it is unacceptable that Americans are paying a $4 or $5 fee each time they go to the ATM. It is unacceptable that millions of Americans are paying credit card interest rates of 20 or 30 percent. The Bible has a term for this practice. It’s called usury. And in The Divine Comedy, Dante reserved a special place in the Seventh Circle of Hell for those who charged people usurious interest rates. Today, we don’t need the hellfire and the pitch forks, we don’t need the rivers of boiling blood, but we do need a national usury law.

This is not a loss, at any rate not for me, I don't get anything out of socializing anyway. I never say what I really think, what I really mean, but always more or less agree with whomever I am talking to at the time, pretend that what they say is of interest to me, except when I am drinking, in which case more often than not I go too far the other way, and wake up to the fear of having overstepped the mark. This has become more pronounced over the years and can last now for weeks. When I drink I also have blackouts and completely lose control of my actions, which are generally desperate and stupid, but also on occasion desperate and dangerous. That is why I no longer drink. I do not want anyone to get close to me, I do not want anyone to see me, and this is the way things have developed: no one gets close and no one sees me. This is what must have engraved itself in my face, this is what must have made it so stiff and masklike and almost impossible to associate with myself whenever I happen to catch a glimpse of it in a shop window.

Here we come to the central question of this book: What, precisely, does it mean to say that our sense of morality and justice is reduced to the language of a business deal? What does it mean when we reduce moral obligations to debts? What changes when the one turns into the other? And how do we speak about them when our language has been so shaped by the market? On one level the difference between an obligation and a debt is simple and obvious. A debt is the obligation to pay a certain sum of money. As a result, a debt, unlike any other form of obligation, can be precisely quantified. This allows debts to become simple, cold, and impersonal-which, in turn, allows them to be transferable. If one owes a favor, or one’s life, to another human being-it is owed to that person specifically. But if one owes forty thousand dollars at 12-percent interest, it doesn’t really matter who the creditor is; neither does either of the two parties have to think much about what the other party needs, wants, is capable of doing-as they certainly would if what was owed was a favor, or respect, or gratitude. One does not need to calculate the human effects; one need only calculate principal, balances, penalties, and rates of interest. If you end up having to abandon your home and wander in other provinces, if your daughter ends up in a mining camp working as a prostitute, well, that’s unfortunate, but incidental to the creditor. Money is money, and a deal’s a deal. From this perspective, the crucial factor, and a topic that will be explored at length in these pages, is money’s capacity to turn morality into a matter of impersonal arithmetic-and by doing so, to justify things that would otherwise seem outrageous or obscene. The factor of violence, which I have been emphasizing up until now, may appear secondary. The difference between a “debt” and a mere moral obligation is not the presence or absence of men with weapons who can enforce that obligation by seizing the debtor’s possessions or threatening to break his legs. It is simply that a creditor has the means to specify, numerically, exactly how much the debtor owes.

givers always score high on other-interest, but they vary in self-interest. There are two types of givers, and they have dramatically different success rates. Selfless givers are people with high other-interest and low self-interest. They give their time and energy without regard for their own needs, and they pay a price for it. Selfless giving is a form of pathological altruism, which is defined by researcher Barbara Oakley as “an unhealthy focus on others to the detriment of one’s own needs,” such that in the process of trying to help others, givers end up harming themselves.

About 4,400 years ago 8 people stepped off Noah’s ark. According to the United Nations Population Growth Statistics, the world’s population grows at about .47% per year. That is the growth rate for all civilizations who kept records. Suppose you put $8.00 in the bank 4,400 years ago and received .47% a year. How much money would you have? What a coincidence! It would be about $7,000,000,000. That’s kind of odd, because 4,400 years ago 8 people stepped off the ark and now we have about 7,000,000,000 people on planet earth. God’s math works! Compound interest is something we teach to seventh-graders. You don’t have to be a professor to figure this out. A twelve-year-old can do the calculation. Ask any seventh-grader, the algebraic equation looks like this: A=P (1+r/n)t . . . where "A " is the ending amount (about 7,000,000,000 in this case), "P " is the beginning amount (8 in this case), "r " is the interest rate (.47% in this case), "n " is the number of compoundings a year (1 in this case), and "t " is the total number of years (4,400 in this case).

The Commissioner went away, taking three or four of the soldiers with him. In the many years in which he had toiled to bring civilization to different parts of Africa he had learned a number of things. One of them was that a District Commissioner must never attend to such undignified details s cutting a hanged man from a tree. Such attention would give the natives a poor opinion of him. In the book which he planned to write he would stress that point. As he walked back to the court he thought about that book. Every day brought him some new material. The story of the man who had killed a messenger and hanged himself would make interesting reading. One could almost write a whole chapter ob him. Perhaps not a whole chapter but a reasonable paragraph, at any rate. There was so much else to include, and one must be firm in cutting details. He had already chosen the title of the book, after much thought: The Pacification of the Primitive Tribes of the Lower Niger.

The [carried-interest] loophole was in essence an accounting trick that enabled hedge fund and private equity managers to categorize huge portions of their income as ‘interest,’ which was taxed at the 15 percent rate then applied to long-term capital gains. This was less than half the income tax rate paid by other top-bracket wage earners. Critics called the loophole a gigantic subsidy to millionaires and billionaires at the expense of ordinary taxpayers. The Economic Policy Institute, a progressive think tank, estimated that the hedge fund loophole cost the government over $6 billion a year—the cost of providing health care to three million children. Of that total, it said, almost $2 billion a year from the tax break went to just twenty-five individuals.

Dragons, for instance, have the right of safe conduct anywhere in Faërie. A reader may not like to read stories about dragons, she may be morally offended or aesthetically uninterested or simply sick of the subject; but at any rate she will not complain that the author has cheated by bringing in a dragon, because dragons belong in fantasy.

In many ways the effect of the crash on embezzlement was more significant than on suicide. To the economist embezzlement is the most interesting of crimes. Alone among the various forms of larceny it has a time parameter. Weeks, months, or years may elapse between the commission of the crime and its discovery. (This is a period, incidentally, when the embezzler has his gain and the man who has been embezzled, oddly enough, feels no loss. There is a net increase in psychic wealth.) At any given time there exists an inventory of undiscovered embezzlement in — or more precisely not in — the country’s businesses and banks. This inventory — it should perhaps be called the bezzle — amounts at any moment to many millions of dollars. It also varies in size with the business cycle. In good times people are relaxed, trusting, and money is plentiful. But even though money is plentiful, there are always many people who need more. Under these circumstances the rate of embezzlement grows, the rate of discovery falls off, and the bezzle increases rapidly. In depression all this is reversed. Money is watched with a narrow, suspicious eye. The man who handles it is assumed to be dishonest until he proves himself otherwise. Audits are penetrating and meticulous. Commercial morality is enormously improved. The bezzle shrinks. … Just as the boom accelerated the rate of growth, so the crash enormously advanced the rate of discovery. Within a few days, something close to a universal trust turned into something akin to universal suspicion. Audits were ordered. Strained or preoccupied behavior was noticed. Most important, the collapse in stock values made irredeemable the position of the employee who had embezzled to play the market. He now confessed.

Three hundred types of mussel, a third of the world’s total, live in the Smokies. Smokies mussels have terrific names, like purple wartyback, shiny pigtoe, and monkeyface pearlymussel. Unfortunately, that is where all interest in them ends. Because they are so little regarded, even by naturalists, mussels have vanished at an exceptional rate. Nearly half of all Smokies mussels species are endangered; twelve are thought to be extinct. This ought to be a little surprising in a national park. I mean it’s not as if mussels are flinging themselves under the wheels of passing cars. Still, the Smokies seem to be in the process of losing most of their mussels. The National Park Service actually has something of a tradition of making things extinct. Bryce Canyon National Park is perhaps the most interesting-certainly the most striking-example. It was founded in 1923 and in less than half a century under the Park Service’s stewardship lost seven species of mammal-the white-tailed jackrabbit, prairie dog, pronghorn antelope, flying squirrel, beaver, red fox, and spotted skunk. Quite an achievement when you consider that these animals had survived in Bryce Canyon for tens of millions of years before the Park Service took an interest in them. Altogether, forty-two species of mammal have disappeared from America's national parks this century.

In Levitt’s view, economics is a science with excellent tools for gaining answers but a serious shortage of interesting questions. His particular gift is the ability to ask such questions. For instance: If drug dealers make so much money, why do they still live with their mothers? Which is more dangerous, a gun or a swimming pool? What really caused crime rates to plunge during the past decade? Do real-estate agents have their clients’ best interests at heart? Why do black parents give their children names that may hurt their career prospects?

When a baby gets hungry and cries his levels of stress hormones will move upward. But if Mom or Dad regularly comes to feed him, they go back down, and over time, they become patterned and repetitive thanks to the daily routine. At times, nonetheless, the baby will feel distress and cry: not hungry, not wet, not in discernible physical pain, she will appear inconsolable. When this happens most parents hug and rock their children, almost instinctively using rhythmic motion and affectionate touch to calm the child. Interestingly, the rate at which people rock their babies is about eighty beats per minute, the same as a normal resting adult heart rate. Faster and the baby will find the motion stimulating; slower and the child will tend to keep crying. To soothe our children we reattune them physically to the beat of the master timekeeper of life.

Beyond the speculative and often fraudulent froth that characterizes much of neoliberal financial manipulation, there lies a deeper process that entails the springing of ‘the debt trap’ as a primary means of accumulation by dispossession. Crisis creation, management, and manipulation on the world stage has evolved into the fine art of deliberative redistribution of wealth from poor countries to the rich. I documented the impact of Volcker’s interest rate increase on Mexico earlier. While proclaiming its role as a noble leader organizing ‘bail-outs’ to keep global capital accumulation on track, the US paved the way to pillage the Mexican economy. This was what the US Treasury–Wall Street–IMF complex became expert at doing everywhere. Greenspan at the Federal Reserve deployed the same Volcker tactic several times in the 1990s. Debt crises in individual countries, uncommon during the 1960s, became very frequent during the 1980s and 1990s. Hardly any developing country remained untouched, and in some cases, as in Latin America, such crises became endemic. These debt crises were orchestrated, managed, and controlled both to rationalize the system and to redistribute assets. Since 1980, it has been calculated, ‘over fifty Marshall Plans (over $4.6 trillion) have been sent by the peoples at the Periphery to their creditors in the Center’. ‘What a peculiar world’, sighs Stiglitz, ‘in which the poor countries are in effect subsidizing the richest.

Shortcomings in the governments’ handling of monetary matters and the disastrous consequences of policies aimed at lowering the rate of interest and at encouraging business activities through credit expansion gave birth to the ideas which finally generated the slogan “stabilization.” One can explain its emergence and its popular appeal, one can understand it as the fruit of the last hundred and fifty years’ history of currency and banking, one can, as it were, plead extenuating circumstances for the error involved. But no such sympathetic appreciation can render its fallacies any more tenable.

the International Monetary Fund basically acted as the world’s debt enforcers—“You might say, the high-finance equivalent of the guys who come to break your legs.” I launched into historical background, explaining how, during the ’70s oil crisis, OPEC countries ended up pouring so much of their newfound riches into Western banks that the banks couldn’t figure out where to invest the money; how Citibank and Chase therefore began sending agents around the world trying to convince Third World dictators and politicians to take out loans (at the time, this was called “go-go banking”); how they started out at extremely low rates of interest that almost immediately skyrocketed to 20 percent or so due to tight U.S. money policies in the early ’80s; how, during the ’80s and ’90s, this led to the Third World debt crisis; how the IMF then stepped in to insist that, in order to obtain refinancing, poor countries would be obliged to abandon price supports on

The late twentieth century has witnessed a remarkable growth in scientific interest in the subject of extinction. It is hardly a new subject—Baron Georges Cuvier had first demonstrated that species became extinct back in 1786, not long after the American Revolution. Thus the fact of extinction had been accepted by scientists for nearly three-quarters of a century before Darwin put forth his theory of evolution. And after Darwin, the many controversies that swirled around his theory did not often concern issues of extinction. On the contrary, extinction was generally considered as unremarkable as a car running out of gas. Extinction was simply proof of failure to adapt. How species adapted was intensely studied and fiercely debated. But the fact that some species failed was hardly given a second thought. What was there to say about it? However, beginning in the 1970s, two developments began to focus attention on extinction in a new way. The first was the recognition that human beings were now very numerous, and were altering the planet at a very rapid rate—eliminating traditional habitats, clearing the rain forest, polluting air and water, perhaps even changing global climate. In the process, many animal species were becoming extinct. Some scientists cried out in alarm; others were quietly uneasy. How fragile was the earth’s ecosystem? Was the human species engaged in behavior that would eventually lead to its own extinction?

As far as Popescu was concerned, meanwhile, Dracula was simply a Romanian patriot who had resisted the Turks, a deed for which every European nation should to some degree be grateful. History is cruel, said Popescu, cruel and paradoxical: the man who halts the conquering onslaught of the Turks is transformed, thanks to a second-rate English writer, into a monster, a libertine whose sole interest is human blood, when the truth is that the only blood Tepes cared to spill was Turkish.

Having seen several hundred lease agreements entered into by people I have counseled, my financial calculator confirms that the average interest rate is 14 percent. Shouldn’t you lease or rent things that go down in value? Not necessarily, and the math doesn’t work on a car, for sure. Follow me through this example: If you rent (lease) a car with a value of $22,000 for three years, and when you turn it in at the end of that three-year lease the car is worth $10,000, someone has to cover the $12,000 loss. You’re not stupid, so you know that General Motors, Ford, or any of the other auto giants aren’t going to put together a plan to lose money. Your fleece/lease payment is designed to cover the loss in value ($12,000 spread over 36 months is equal to $333 per month), plus provide profit (the interest you pay). Where did you get a deal in that? You didn’t! On top of that, there is the charge of 10 to 17 cents per mile for going over the allotted miles and the penalties everyone turning in a lease has experienced for “excessive wear and tear,” which takes into account every little nick, dent, carpet tear, smudge, or smell. You end up writing a large check just to walk away after renting your car. The whole idea of the back-end penalties is twofold: to get you to fleece/lease another one so you can painlessly roll the gotchas into the new lease, and to make sure the car company makes money.

In the many years in which he had toiled to bring civilization to different parts of Africa he had learned a number of things. One of them was that a District Commissioner must never attend to such undignified details as cutting a hanged man from a tree. Such attention would give the natives a poor opinion of him. In the book which he planned to write he would stress that point. As he walked back to the court he thought about that book. Every day brought him some new material. The story of the man who had killed a messenger and hanged himself would make interesting reading. One could almost write a whole chapter on him. Perhaps not a whole chapter but a reasonable paragraph, at any rate. There was so much else to include, and one must be firm in cutting details. He had already chosen the title of the book, after much thought: The Pacification of the Primitive Tribes of the Lower Niger.

There is no selfless righteousness in social media . People say or do good things , but having bad motives in them. They only sympathize and support the one with most likes. They do things for rating, acknowledgement and fame. They don't do or say things because they care. That is why those who have few friends or followers will never have a say and their problems will never be known. They wont even get the platform to be supported in what they do. Their voices wont be heard because they are seen as unimportant and not interesting enough.

Purchase Price $250,000 Down Payment $ 25,000 Mortgage Amount $225,000 At 7% Interest Rate 30 Years $1,349 $485,636 15 Years $1,899 $341,762 Difference $550 $143,874 Five hundred fifty dollars more per month, and you will save almost $150,000 and fifteen years of bondage. The really interesting thing I have observed is that fifteen-year mortgages always pay off in fifteen years. Again, part of a Total Money Makeover is putting in place systems that automate smart moves, which is what a fifteen-year mortgage is. Thirty-year mortgages are for people who enjoy slavery so much they want to extend it for fifteen more years and pay thousands of dollars more for the privilege. If you must take out a mortgage, pretend only fifteen-year mortgages exist. If you have a great interest rate, it is not necessary to refinance to pay a mortgage off in fifteen years or earlier. Simply make payments as if you have a fifteen-year mortgage, and your mortgage will pay off in fifteen years. If you want to pay any mortgage off in twelve years or any number you want, visit my website or get a calculator and calculate the proper payment at your interest rate on your balance for a twelve-year mortgage (or the number you want). Once you have that payment amount, add to your monthly mortgage payment the difference between the new principal and interest payment and your current principal and interest payment, and you will pay off your home in twelve years.

Next question.” He swipes the screen of his phone, but he’s not looking at it; he’s staring at me. Trying to intimidate me. Trying to see who’ll blink first. “Did you leave DC because (A) you couldn’t find any hotties to make out with? Or (B) your East Coast boyfriend is an ankle buster and you’d heard about legendary West Coast D, so you had to find out for yourself if the rumors were true?” he says with a smirk. “Idiot,” Grace mumbles, shaking her head. I may not understand some of his phrasing, but I get the gist. I feel myself blushing. But I manage to recover quickly and get a jab in. “Why are you so interested in my love life?” “I’m not. Why are you evading the question? You do that a lot, by the way.” “Do what?” “Evade questions.” “What business is that of yours?” I say, secretly irritated that he’s figured me out... Porter scoffs. “Seeing how this is your first day on the job, and may very well be your last, considering the turnover rate for this position? And seeing how I have seniority over you? I’d say, yeah, it’s pretty much my business.” “Are you threatening me?” I ask. He clicks off his phone and raises a brow. “Huh?” “That sounded like a threat,” I say. “Whoa, you need to chill. That was not . . .” He can’t even say it. He’s flustered now, tucking his hair behind his ear. “Grace . . .” Grace holds up a hand. “Leave me out of this mess. I have no idea what I’m even witnessing here. Both of you have lost the plot.

One can never call me a quitter I take something right and see it through till it’s wrong Auctioning myself off to the lowest bidder Going once, going twice Gone Sold to the man for the price of disdain Some are sold for a song I don’t rate a refrain I guess it was all going just a little too well If I wasn’t careful I’d be happy pretty soon Heaven’s no place for one who thrives on hell, One who prefers the bit to the silver spoon. Then just when I’d almost resigned myself to winning When it seemed my bright future would never dim When my luck looked as though it was only beginning I met him. Sullen and scornful; a real Marlboro man The type who pours out the beer and eats the can A tall guy with a cultivated leer One you can count on to diaprove or disappear I knew right away that he was a find Given this, he was the kindest man I’d ever met Back came my sense of worthlessness And my long lost pangs of regret I was my old self again, lost and confused Reunited with that old feeling Of being misunderstood and misused. Sold to the man for the price of disdain All of this would be interesting If it weren’t so mundane

a woman may achieve greatness, or at any rate great renown, by merely being a wonderful wife and mother, like the mother of the Gracchi; whereas the men who have achieved great renown by being devoted husbands and fathers might be counted on the fingers of one hand. Charles I was an unfortunate king, but an admirable family man. Still, you would scarcely class him as one of the world’s great fathers, and his children were not an unqualified success. Dear me! Being a great father is either a very difficult or a very sadly unrewarded profession. Wherever you find a great man, you will find a great mother or a great wife standing behind him—or so they used to say. It would be interesting to know how many great women have had great fathers and husbands behind them.

Under Coolidge, the federal debt fell. Under Coolidge, the top income tax rate came down by half, to 25 percent. Under Coolidge, the federal budget was always in surplus. Under Coolidge, unemployment was 5 percent or even 3 percent. Under Coolidge, Americans wired their homes for electricity and bought their first cars or household appliances on credit. Under Coolidge, the economy grew strongly, even as the federal government shrank. Under Coolidge, the rates of patent applications and patents granted increased dramatically. Under Coolidge, there came no federal antilynching law, but lynchings themselves became less frequent and Ku Klux Klan membership dropped by millions. Under Coolidge, a man from a town without a railroad station, Americans moved from the road into the air. Under Coolidge, religious faith found its modern context: the first great White House Christmas tree was lit, an ingenious use for the new technology, electricity. Under Coolidge, the number of local telephone calls went up by a quarter. In Silent Cal’s time, Americans learned to chatter. Under Coolidge, wages rose and interest rates came down so that the poor might borrow more easily. Under Coolidge, the rich came to pay a greater share of the income tax.

This book is an essay in what is derogatorily called "literary economics," as opposed to mathematical economics, econometrics, or (embracing them both) the "new economic history." A man does what he can, and in the more elegant - one is tempted to say "fancier" - techniques I am, as one who received his formation in the 1930s, untutored. A colleague has offered to provide a mathematical model to decorate the work. It might be useful to some readers, but not to me. Catastrophe mathematics, dealing with such events as falling off a height, is a new branch of the discipline, I am told, which has yet to demonstrate its rigor or usefulness. I had better wait. Econometricians among my friends tell me that rare events such as panics cannot be dealt with by the normal techniques of regression, but have to be introduced exogenously as "dummy variables." The real choice open to me was whether to follow relatively simple statistical procedures, with an abundance of charts and tables, or not. In the event, I decided against it. For those who yearn for numbers, standard series on bank reserves, foreign trade, commodity prices, money supply, security prices, rate of interest, and the like are fairly readily available in the historical statistics.

His heart is weak, but his will is strong-more so now than ever,” he continued, shrugging into the light cape Ormsley was putting over his shoulders. “What do you mean, ‘more now than ever’?” The physician smiled in surprise. “Why, I meant that your coming here has meant a great deal to him, my lord. It’s had an amazing effect on him-well, not amazing, really. I should say a miraculous effect. Normally he rails at me when he’s ill. Today he almost hugged me in his eagerness to tell me you were here, and why. Actually, I was ordered to “have a look at you,” he continued in the confiding tone of an old family friend, “although I wasn’t supposed to tell you I was doing so, of course.” Grinning, he added, “He thinks you are a ‘handsome devil.’” Ian refused to react to that admonishing information with any emotion whatsoever. “Good day, my lord,” the doctor said. Turning to the duke’s sisters, who’d been hovering worriedly in the hall, he tipped his hat. “Ladies,” he said, and he departed. “I’ll just go up and look in on him,” Hortense announced. Turning to Charity, she said sternly, “Do not bore Ian with too much chatter,” she admonished, already climbing the stairs. In an odd, dire voice, she added, “And do not meddle.” For the next hour Ian paced the floor, with Charity watching him with great interest. The one thing he did not have was time, and time was what he was losing. At this rate Elizabeth would be giving birth to her first child before he got back to London.

The ARM, Adjustable Rate Mortgage, was invented in the early 1980s. Prior to that, those of us in the real estate business sold fixed-rate 7 or 8 percent mortgages. What happened? I was there in the middle of that disaster of an economy when fixed-rate mortgages went as high as 17 percent and the real estate world froze. Lenders paid out 12 percent on CDs but had money loaned out at 7 percent on hundreds of millions of dollars in mortgages. They were losing money, and lenders don’t like to lose money. So the Adjustable Rate Mortgage was born, in which your interest rate goes up when the prevailing market interest rates go up. The ARM was born to transfer the risk of higher interest rates to you, the consumer. In the last several years, home mortgage rates have been at a thirty-year low. It is not wise to get something that adjusts when you are at the bottom of rates! The mythsayers always seem to want to add risk to your home, the one place you should want to make sure has stability. Balloon mortgages are even worse. Balloons pop, and it is always strange to me that the popping sound is so startling. Why don’t we expect it? It is in the very nature of balloons to pop. Wise financial people always move away from risk, and the balloon mortgage creates risk nightmares.

The Loneliness of the Military Historian Confess: it's my profession that alarms you. This is why few people ask me to dinner, though Lord knows I don't go out of my way to be scary. I wear dresses of sensible cut and unalarming shades of beige, I smell of lavender and go to the hairdresser's: no prophetess mane of mine, complete with snakes, will frighten the youngsters. If I roll my eyes and mutter, if I clutch at my heart and scream in horror like a third-rate actress chewing up a mad scene, I do it in private and nobody sees but the bathroom mirror. In general I might agree with you: women should not contemplate war, should not weigh tactics impartially, or evade the word enemy, or view both sides and denounce nothing. Women should march for peace, or hand out white feathers to arouse bravery, spit themselves on bayonets to protect their babies, whose skulls will be split anyway, or,having been raped repeatedly, hang themselves with their own hair. There are the functions that inspire general comfort. That, and the knitting of socks for the troops and a sort of moral cheerleading. Also: mourning the dead. Sons,lovers and so forth. All the killed children. Instead of this, I tell what I hope will pass as truth. A blunt thing, not lovely. The truth is seldom welcome, especially at dinner, though I am good at what I do. My trade is courage and atrocities. I look at them and do not condemn. I write things down the way they happened, as near as can be remembered. I don't ask why, because it is mostly the same. Wars happen because the ones who start them think they can win. In my dreams there is glamour. The Vikings leave their fields each year for a few months of killing and plunder, much as the boys go hunting. In real life they were farmers. The come back loaded with splendour. The Arabs ride against Crusaders with scimitars that could sever silk in the air. A swift cut to the horse's neck and a hunk of armour crashes down like a tower. Fire against metal. A poet might say: romance against banality. When awake, I know better. Despite the propaganda, there are no monsters, or none that could be finally buried. Finish one off, and circumstances and the radio create another. Believe me: whole armies have prayed fervently to God all night and meant it, and been slaughtered anyway. Brutality wins frequently, and large outcomes have turned on the invention of a mechanical device, viz. radar. True, valour sometimes counts for something, as at Thermopylae. Sometimes being right - though ultimate virtue, by agreed tradition, is decided by the winner. Sometimes men throw themselves on grenades and burst like paper bags of guts to save their comrades. I can admire that. But rats and cholera have won many wars. Those, and potatoes, or the absence of them. It's no use pinning all those medals across the chests of the dead. Impressive, but I know too much. Grand exploits merely depress me. In the interests of research I have walked on many battlefields that once were liquid with pulped men's bodies and spangled with exploded shells and splayed bone. All of them have been green again by the time I got there. Each has inspired a few good quotes in its day. Sad marble angels brood like hens over the grassy nests where nothing hatches. (The angels could just as well be described as vulgar or pitiless, depending on camera angle.) The word glory figures a lot on gateways. Of course I pick a flower or two from each, and press it in the hotel Bible for a souvenir. I'm just as human as you. But it's no use asking me for a final statement. As I say, I deal in tactics. Also statistics: for every year of peace there have been four hundred years of war.

The origin of morality may be traced to two ideas: “The community is of more value than the individual,” “The permanent interest is to be preferred to the temporary.” The conclusion drawn is that the permanent interest of the community is unconditionally to be set above the temporary interest of the individual, especially his momentary well-being, but also his permanent interest and even the prolongation of his existence. Even if the individual suffers by an arrangement that suits the mass, even if he is depressed and ruined by it, morality must be maintained and the victim brought to the sacrifice. Such a trend of thought arises, however, only in those who are not the victims—for in the victim's case it enforces the claim that the individual might be worth more than the many, and that the present enjoyment, the “moment in paradise,” should perhaps be rated higher than a tame succession of untroubled or comfortable circumstances. But the philosophy of the sacrificial victim always finds voice too late, and so victory remains with morals and morality. But this is really nothing more than the sentiment for the whole concept of morals under which one lives and has been reared—and reared not as an individual but as a member of the whole, as a cipher in a majority. Hence it constantly happens that the individual makes himself into a majority by means of his morality.

Forcing new loans upon the bankrupt on condition that they shrink their income is nothing short of cruel and unusual punishment. Greece was never bailed out. With their ‘rescue’ loan and their troika of bailiffs enthusiastically slashing incomes, the EU and IMF effectively condemned Greece to a modern version of the Dickensian debtors’ prison and then threw away the key. Debtors’ prisons were ultimately abandoned because, despite their cruelty, they neither deterred the accumulation of new bad debts nor helped creditors get their money back. For capitalism to advance in the nineteenth century, the absurd notion that all debts are sacred had to be ditched and replaced with the notion of limited liability. After all, if all debts are guaranteed, why should lenders lend responsibly? And why should some debts carry a higher interest rate than other debts, reflecting the higher risk of going bad? Bankruptcy and debt write-downs became for capitalism what hell had always been for Christian dogma – unpleasant yet essential – but curiously bankruptcy-denial was revived in the twenty-first century to deal with the Greek state’s insolvency. Why? Did the EU and the IMF not realize what they were doing? They knew exactly what they were doing. Despite their meticulous propaganda, in which they insisted that they were trying to save Greece, to grant the Greek people a second chance, to help reform Greece’s chronically crooked state and so on, the world’s most powerful institutions and governments were under no illusions. […] Banks restructure the debt of stressed corporations every day, not out of philanthropy but out of enlightened self-interest. But the problem was that, now that we had accepted the EU–IMF bailout, we were no longer dealing with banks but with politicians who had lied to their parliaments to convince them to relieve the banks of Greece’s debt and take it on themselves. A debt restructuring would require them to go back to their parliaments and confess their earlier sin, something they would never do voluntarily, fearful of the repercussions. The only alternative was to continue the pretence by giving the Greek government another wad of money with which to pretend to meet its debt repayments to the EU and the IMF: a second bailout.

What this means is that the entire business model for something like Chase’s credit card business is not much more than a gigantic welfare fraud scheme. These companies borrow hundreds of billions of dollars from the Fed at rock-bottom rates, then turn around and lend it out to the world at 5, 10, 15, 20 percent, as credit cards and mortgages, boat loans and aircraft loans, and so on. If you pay it back, great, it’s a 500 percent or 1,000 percent or 4,000 percent profit for the bank. If you don’t pay it back, the company can put your name in the hopper to be sued. A $5,000 debt on a credit card for the now-defunct Circuit City, which was actually a Chase card, became a $13,000 or $14,000 debt by the time the bank finished applying fees and penalties. Just like a welfare application, you have to read the fine print. “They make more on lawsuits than they make on credit interest,” says Linda.

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

But when a man has once broken through the paper walls of everyday circumstance, those unsubstantial walls that hold so many of us securely prisoned from the cradle to the grave, he has made a discovery. If the world does not please you, you can change it. Determine to alter it at any price, and you can change it altogether. You may change it to something sinister and angry, to something appalling, but it may be you will change it to something brighter, something more agreeable, and at the worst something much more interesting. There is only one sort of man who is absolutely to blame for his own misery, and that is the man who finds life dull and dreary. There are no circumstances in the world that determined action cannot alter, unless perhaps they are the walls of a prison cell, and even those will dissolve and change, I am told, into the infirmary compartment at any rate, for the man who can fast with resolution.

People who suffer the most from a given state of affairs are paradoxically the least likely to question, challenge, reject, or change it.” To explain this peculiar phenomenon, Jost’s team developed a theory of system justification. Its core idea is that people are motivated to rationalize the status quo as legitimate—even if it goes directly against their interests. In one study, they tracked Democratic and Republican voters before the 2000 U.S. presidential election. When George W. Bush gained in the polls, Republicans rated him as more desirable, but so did Democrats, who were already preparing justifications for the anticipated status quo. The same happened when Al Gore’s likelihood of success increased: Both Republicans and Democrats judged him more favorably. Regardless of political ideologies, when a candidate seemed destined to win, people liked him more. When his odds dropped, they liked him less. Justifying the default system serves a soothing function. It’s an emotional painkiller: If the world is supposed to be this way, we don’t need to be dissatisfied with it. But acquiescence also robs us of the moral outrage to stand against injustice and the creative will to consider alternative ways that the world could work.

Profit is so very fluctuating that the person who carries on a particular trade cannot always tell you himself what is the average of his annual profit. It is affected not only by every variation of price in the commodities which he deals in, but by the good or bad fortune both of his rivals and of his customers, and by a thousand other accidents to which goods when carried either by sea or by land, or even when stored in a warehouse, are liable. It varies, therefore, not only from year to year, but from day to day, and almost from hour to hour. To ascertain what is the average profit of all the different trades carried on in a great kingdom must be much more difficult; and to judge of what it may have been formerly, or in remote periods of time, with any degree of precision, must be altogether impossible. But though it may be impossible to determine, with any degree of precision, what are or were the average profits of stock, either in the present or in ancient times, some notion may be formed of them from the interest of money. It may be laid down as a maxim, that wherever a great deal can be made by the use of money, a great deal will commonly be given for the use of it; and that wherever little can be made by it, less will commonly be given for it. According, therefore, as the usual market rate of interest varies in any country, we may be assured that the ordinary profits of stock must vary with it, must sink as it sinks, and rise as it rises. The progress of interest, therefore, may lead us to form some notion of the progress of profit.

The mindset of antiquity lacked economic science and sociological theory. The ancients did rather well with political narrative, although, except for Thucydides, no first-rate political annalist and analyst emerged from the literary populace. But the ancients never showed a capacity, or even an inclination, to examine closely the urban world they themselves inhabited. "Neither, however, was the medieval world in the 500s through the 1500s, which succeeded antiquity, much better at economics and sociology. It was only in the eighteenth and early nineteenth centuries that this kind of thinking emerged with Adam Smith and Alexis de Tocqueville in response to industrial and political revolutions. "What interested the urban dwellers of antiquity were the gods. During the Hellenistic and Roman eras the theoretical capacity of the literate urban population was given over to thinking about the nature of divinity. The chief theological formats were polytheism (many gods); monotheism (one god); dualism (two dogs, one good, the other evil); and dying and reborn savior gods that could also be fitted into the other three categories of divinity.

The air, soil and water cumulatively degrade; the climates and oceans destabilize; species become extinct at a spasm rate across continents; pollution cycles and volumes increase to endanger life-systems at all levels in cascade effects; a rising half of the world is destitute as inequality multiplies; the global food system produces more and more disabling and contaminated junk food without nutritional value; non-contagious diseases multiply to the world’s biggest killer with only symptom cures; the vocational future of the next generation collapses across the world while their bank debts rise; the global financial system has ceased to function for productive investment in life-goods; collective-interest agencies of governments and unions are stripped while for-profit state subsidies multiply; police state laws and methods advance while belligerent wars for corporate resources increase; the media are corporate ad vehicles and the academy is increasingly reduced to corporate functions; public sectors and services are non-stop defunded and privatized as tax evasion and transnational corporate funding and service by governments rise at the same time at every level.

Female prophecy must be situated in the crisis of reproduction in the middle of the seventeenth century. This was the peak period for the criminalization of women in England and throughout Europe, as prosecutions for infanticide, abortion, and witchcraft reached their highest rate. It was also the period in which men began to wrest control of reproduction from women (male midwives appeared in 1625 and forceps soon thereafter); previously, "childbirth and the lying-in period were a kind of ritual collectively staged and controlled by women, from which men were usually excluded." Since the ruling class had begun to recognize its interest in increased fecundity, "attention was focussed on the 'population' as fundamental category for economic and political analysis." The simultaneous births of modern obstetrics and modern demography were responses to this crisis. Both, like the witchcraft prosecutions, sought to rationalize social reproduction in a capitalist context - that is, as the breeding of labor power. A recurring motif in the ruling-class imagination was intercourse between the English witch and the "black man" - a devil or imp. The terror was not limited to an imaginary chamber of horrors; it was an actuality of counterevolution.

Interpretation of Complex Systems Kenyon B. De Greene All systems evolve, although the rates of evolution may vary over time both between and within systems. The rate of evolution is a function of both the inherent stability of the system and changing environmental circumstances. But no system can be stabilized forever. For the universe as a whole, an isolated system, time’s arrow points toward greater and greater breakdown, leading to complete molecular chaos, maximum entropy, and heat death. For open systems, including the living systems that are of major interest to us and that interchange matter and energy with their external environments, time’s arrow points to evolution toward greater and greater complexity. Thus, the universe consists of islands of increasing order in a sea of decreasing order. Open systems evolve and maintain structure by exporting entropy to their external environments.

Of all such reformers Mr. Sentiment is the most powerful. It is incredible the number of evil practices he has put down: it is to be feared he will soon lack subjects and that when he has made the working classes comfortable, and got bitter beer put into proper-sized pint bottles, there will be nothing further for him left to do. Mr. Sentiment is certainly a very powerful man, and perhaps not the less so that his good poor people are so very good; his hard rich people so very hard; and the genuinely honest so very honest. Namby-pamby in these days is not thrown away if it be introduced in the proper quarters. Divine peeresses are no longer interesting, though possessed of every virtue; but a pattern peasant or an immaculate manufacturing hero may talk as much twaddle as one of Mrs. Ratcliffe's heroines, and still be listened to. Perhaps, however, Mr. Sentiment's great attraction is in his second-rate characters. If his heroes and heroines walk upon stilts as heroes and heroines, I fear, ever must, their attendant satellites are as natural as though one met them in the street: they walk and talk like men and women, and live among our friends a rattling, lively life — yes, live, and will live till the names of their callings shall be forgotten in their own, and Buckett and Mrs. Gamp will be the only words left to us to signify detective police officer or a monthly nurse.

HOW TO DRIVE A WRITER CRAZY “1. When he starts to outline a story, immediately give him several stories just like it to read and tell him three other plots. This makes his own story and his feeling for it vanish in a cloud of disrelated facts. "2. When he outlines a character, read excerpts from stories about such characters, saying that this will clarify the writer's ideas. As this causes him to lose touch with the identity he felt in his character by robbing him of individuality, he is certain to back away from ever touching such a character. "3. Whenever the writer proposes a story, always mention that his rate, being higher than other rates of writers in the book, puts up a bar to his stories. "4. When a rumor has stated that a writer is a fast producer, invariably confront him with the fact with great disapproval, as it is, of course, unnatural for one human being to think faster than another. "5. Always correlate production and rate, saying that it is necessary for the writer to do better stories than the average for him to get any consideration whatever. "6. It is a good thing to mention any error in a story bought, especially when that error is to be editorially corrected, as this makes the writer feel that he is being criticized behind his back and he wonders just how many other things are wrong. "7. Never fail to warn a writer not to be mechanical, as this automatically suggests to him that his stories are mechanical and, as he considers this a crime, wonders how much of his technique shows through and instantly goes to much trouble to bury mechanics very deep—which will result in laying the mechanics bare to the eye. "8. Never fail to mention and then discuss budget problems with a writer, as he is very interested. "9. By showing his vast knowledge of a field, an editor can almost always frighten a writer into mental paralysis, especially on subjects where nothing is known anyway. "10. Always tell a writer plot tricks, as they are not his business.

There is an uncomfortable willingness among privacy campaigners to discriminate against mass surveillance conducted by the state to the exclusion of similar surveillance conducted for profit by large corporations. Partially, this is a vestigial ethic from the Californian libertarian origins of online pro-privacy campaigning. Partially, it is a symptom of the superior public relations enjoyed by Silicon Valley technology corporations, and the fact that those corporations also provide the bulk of private funding for the flagship digital privacy advocacy groups, leading to a conflict of interest. At the individual level, many of even the most committed privacy campaigners have an unacknowledged addiction to easy-to-use, privacy-destroying amenities like Gmail, Facebook, and Apple products. As a result, privacy campaigners frequently overlook corporate surveillance abuses. When they do address the abuses of companies like Google, campaigners tend to appeal to the logic of the market, urging companies to make small concessions to user privacy in order to repair their approval ratings. There is the false assumption that market forces ensure that Silicon Valley is a natural government antagonist, and that it wants to be on the public’s side—that profit-driven multinational corporations partake more of the spirit of democracy than government agencies. Many privacy advocates justify a predominant focus on abuses by the state on the basis that the state enjoys a monopoly on coercive force. For example, Edward Snowden was reported to have said that tech companies do not “put warheads on foreheads.” This view downplays the fact that powerful corporations are part of the nexus of power around the state, and that they enjoy the ability to deploy its coercive power, just as the state often exerts its influence through the agency of powerful corporations. The movement to abolish privacy is twin-horned. Privacy advocates who focus exclusively on one of those horns will find themselves gored on the other.

Rosenthal went on to study precisely that – what expectation mean for our children. In one line of research he showed that teachers´ expectations greatly affect their students´ academic performance, even when the teachers try to treat them impartially. For example, he and a colleague asked schoolkids in eighteen classrooms to complete an IQ test. The teachers, but not students, were given results. The researchers told the teachers that the test would indicate which children had unusually high intellectual potential. What the teachers didn’t know was that the kids named as gifted did not really score higher than average on the IQ test – they actually had average scores. Shortly afterwards, the teachers rated those not labeled gifted as less curious and less interested than the gifted students – and the students´ subsequent grades reflected that. But what is really shocking – and sobering – is the result of another IQ test, given eight months later. When you administer IQ test a second time, you expect that each child´s score will vary some. In general, about half of the children´s scores should go up and half down, as a result of changes in the individual’s intellectual development in relation to his peers or simply random variations. When Rosenthal administered the second test, he indeed found that about half the kids labeled “normal” showed a gain in IQ. But among those who´d been singled out as brilliant, he obtained a different result; about 80 % had an increase of at least 10 points. What´s more, about 20 % of the “gifted” group gained 30 or more IQ points, while only 5 % of the other children gained that many. Labeling children as gifted had proved to be a powerful self-fulfilling prophecy.

Any true definition of preaching must say that that man is there to deliver the message of God, a message from God to those people. If you prefer the language of Paul, he is 'an ambassador for Christ'. That is what he is. He has been sent, he is a commissioned person, and he is standing there as the mouthpiece of God and of Christ to address these people. In other words he is not there merely to talk to them, he is not there to entertain them. He is there - and I want to emphasize this - to do something to those people; he is there to produce results of various kinds, he is there to influence people. He is not merely to influence a part of them; he is not only to influence their minds, not only their emotions, or merely to bring pressure to bear upon their wills and to induce them to some kind of activity. He is there to deal with the whole person; and his preaching is meant to affect the whole person at the very centre of life. Preaching should make such a difference to a man who is listening that he is never the same again. Preaching, in other words, is a transaction between the preacher and the listener. It does something for the soul of man, for the whole of the person, the entire man; it deals with him in a vital and radical manner. I remember a remark made to me a few years back about some studies of mine on “The Sermon on the Mount.” I had deliberately published them in sermonic form. There were many who advised me not to do that on the grounds that people no longer like sermons. The days for sermons, I was told, were past, and I was pressed to turn my sermons into essays and to give them a different form. I was most interested therefore when this man to whom I was talking, and he is a very well-known Christian layman in Britain, said, "I like these studies of yours on “The Sermon on the Mount” because they speak to me.” Then he went on to say, “I have been recommended many books by learned preachers and professors but,” he said, “what I feel about those books is that it always seems to be professors writing to professors; they do not speak to me. But,” he said, “your stuff speaks to me.” Now he was an able man, and a man in a prominent position, but that is how he put it. I think there is a great deal of truth in this. He felt that so much that he had been recommended to read was very learned and very clever and scholarly, but as he put it, it was “professors writing to professors.” This is, I believe, is a most important point for us to bear in mind when we read sermons. I have referred already to the danger of giving the literary style too much prominence. I remember reading an article in a literary journal some five or six years ago which I thought was most illuminating because the writer was making the selfsame point in his own field. His case was that the trouble today is that far too often instead of getting true literature we tend to get “reviewers writing books for reviewers.” These men review one another's books, with the result that when they write, what they have in their mind too often is the reviewer and not the reading public to whom the book should be addressed, at any rate in the first instance. The same thing tends to happen in connection with preaching. This ruins preaching, which should always be a transaction between preacher and listener with something vital and living taking place. It is not the mere imparting of knowledge, there is something much bigger involved. The total person is engaged on both sides; and if we fail to realize this our preaching will be a failure.

Farmers in the South, West, and Midwest, however, were still building a major movement to escape from the control of banks and merchants lending them supplies at usurious rates; agricultural cooperatives—cooperative buying of supplies and machinery and marketing of produce—as well as cooperative stores, were the remedy to these conditions of virtual serfdom. While the movement was not dedicated to the formation of worker co-ops, in its own way it was at least as ambitious as the Knights of Labor had been. In the late 1880s and early 1890s it swept through southern and western states like a brushfire, even, in some places, bringing black and white farmers together in a unity of interest. Eventually this Farmers’ Alliance decided it had to enter politics in order to break the power of the banks; it formed a third party, the People’s Party, in 1892. The great depression of 1893 only spurred the movement on, and it won governorships in Kansas and Colorado. But in 1896 its leaders made a terrible strategic blunder in allying themselves with William Jennings Bryan of the Democratic party in his campaign for president. Bryan lost the election, and Populism lost its independent identity. The party fell apart; the Farmers’ Alliance collapsed; the movement died, and many of its cooperative associations disappeared. Thus, once again, the capitalists had managed to stomp out a threat to their rule.171 They were unable to get rid of all agricultural cooperatives, however, even with the help of the Sherman “Anti-Trust” Act of 1890.172 Nor, in fact, did big business desire to combat many of them, for instance the independent co-ops that coordinated buying and selling. Small farmers needed cooperatives in order to survive, whether their co-ops were independent or were affiliated with a movement like the Farmers’ Alliance or the Grange. The independent co-ops, moreover, were not necessarily opposed to the capitalist system, fitting into it quite well by cooperatively buying and selling, marketing, and reducing production costs. By 1921 there were 7374 agricultural co-ops, most of them in regional federations. According to the census of 1919, over 600,000 farmers were engaged in cooperative marketing or purchasing—and these figures did not include the many farmers who obtained insurance, irrigation, telephone, or other business services from cooperatives.173

What are the common wages of labour, depends everywhere upon the contract usually made between those two parties, whose interests are by no means the same. The workmen desire to get as much, the masters to give as little as possible. The former are disposed to combine in order to raise, the latter in order to lower the wages of labour. It is not, however, difficult to foresee which of the two parties must, upon all ordinary occasions, have the advantage in the dispute, and force the other into a compliance with their terms. The masters, being fewer in number, can combine much more easily; and the law, besides, authorizes, or at least does not prohibit their combinations, while it prohibits those of the workmen. We have no acts of parliament against combining to lower the price of work; but many against combining to raise it. In all such disputes the masters can hold out much longer. A landlord, a farmer, a master manufacturer, a merchant, though they did not employ a single workman, could generally live a year or two upon the stocks which they have already acquired. Many workmen could not subsist a week, few could subsist a month, and scarce any a year without employment. In the long run the workman may be as necessary to his master as his master is to him; but the necessity is not so immediate. We rarely hear, it has been said, of the combinations of masters, though frequently of those of workmen. But whoever imagines, upon this account, that masters rarely combine, is as ignorant of the world as of the subject. Masters are always and everywhere in a sort of tacit, but constant and uniform combination, not to raise the wages of labour above their actual rate. To violate this combination is everywhere a most unpopular action, and a sort of reproach to a master among his neighbours and equals. We seldom, indeed, hear of this combination, because it is the usual, and one may say, the natural state of things, which nobody ever hears of. Masters, too, sometimes enter into particular combinations to sink the wages of labour even below this rate. These are always conducted with the utmost silence and secrecy, till the moment of execution, and when the workmen yield, as they sometimes do, without resistance, though severely felt by them, they are never heard of by other people. Such combinations, however, are frequently resisted by a contrary defensive combination of the workmen; who sometimes too, without any provocation of this kind, combine of their own accord to raise the price of their labour. Their usual pretences are, sometimes the high price of provisions; sometimes the great profit which their masters make by their work. But whether their combinations be offensive or defensive, they are always abundantly heard of. In order to bring the point to a speedy decision, they have always recourse to the loudest clamour, and sometimes to the most shocking violence and outrage. They are desperate, and act with the folly and extravagance of desperate men, who must either starve, or frighten their masters into an immediate compliance with their demands. The masters upon these occasions are just as clamorous upon the other side, and never cease to call aloud for the assistance of the civil magistrate, and the rigorous execution of those laws which have been enacted with so much severity against the combinations of servants, labourers, and journeymen. The workmen, accordingly, very seldom derive any advantage from the violence of those tumultuous combinations, which, partly from the interposition of the civil magistrate, partly from the necessity superior steadiness of the masters, partly from the necessity which the greater part of the workmen are under of submitting for the sake of present subsistence, generally end in nothing, but the punishment or ruin of the ringleaders. But though in disputes with their workmen, masters must generally have the advantage, there is, however, a certain rate be.

Of real sensational journalism, as it exists in France, in Ireland, and in America, we have no trace in this country. When a journalist in Ireland wishes to create a thrill, he creates a thrill worth talking about. He denounces a leading Irish member for corruption, or he charges the whole police system with a wicked and definite conspiracy. When a French journalist desires a frisson there is a frisson; he discovers, let us say, that the President of the Republic has murdered three wives. Our yellow journalists invent quite as unscrupulously as this; their moral condition is, as regards careful veracity, about the same. But it is their mental calibre which happens to be such that they can only invent calm and even reassuring things. The fictitious version of the massacre of the envoys of Pekin was mendacious, but it was not interesting, except to those who had private reasons for terror or sorrow. It was not connected with any bold and suggestive view of the Chinese situation. It revealed only a vague idea that nothing could be impressive except a great deal of blood. Real sensationalism, of which I happen to be very fond, may be either moral or immoral. But even when it is most immoral, it requires moral courage. For it is one of the most dangerous things on earth genuinely to surprise anybody. If you make any sentient creature jump, you render it by no means improbable that it will jump on you. But the leaders of this movement have no moral courage or immoral courage; their whole method consists in saying, with large and elaborate emphasis, the things which everybody else says casually, and without remembering what they have said. When they brace themselves up to attack anything, they never reach the point of attacking anything which is large and real, and would resound with the shock. They do not attack the army as men do in France, or the judges as men do in Ireland, or the democracy itself as men did in England a hundred years ago. They attack something like the War Office--something, that is, which everybody attacks and nobody bothers to defend, something which is an old joke in fourth-rate comic papers

And so I learned things, gentlemen. Ah, one learns when one has to; one learns when one needs a way out; one learns at all costs. One stands over oneself with a whip; one flays oneself at the slightest opposition. My ape nature fled out of me, head over heels and away, so that my first teacher was almost himself turned into an ape by it and was taken away to a mental hospital. Fortunately he was soon let out again. But I used up many teachers, several teachers at once. As I became more confident of my abilities, as the public took and interest in my progress and my future began to look bright, I engaged teachers for myself, engaged them in five communicating rooms, and took lessons from all at once by dint of leaping from one room to the other. That progress of mine! How the rays of knowledge penetrated from all sides into my awakening brain? I do not deny it: I found it exhilarating. But I must also confess: I did not overestimate it, not even then, much less now. With an effort which up till now has never been repeated I managed to reach the cultural level of an average European. In itself that might be nothing to speak of, but it is something insofar as it has helped me out of my cage and opened a special way out for me, the way of humanity. There is an excellent idiom: to fight one’s way through the thick of things; that is what I have done, I have fought through the thick of things. There was nothing else for me to do, provided that freedom was not to be my choice. As I look back on my development and survey what I have achieved so far, I do not complain, but I am not complacent either. With my hands in my trouser pockets, my bottle of wine on the table, I half lie and half sit in my rocking chair and gaze out of the window: If a visitor arrives I receive him with propriety. My manager sits in the anteroom; when I ring, he comes and listens to what I have to say. Nearly every evening I give a performance, and I have a success that could hardly be increased. When I come home late at night from banquets, from scientific receptions, from social gatherings, there sits waiting for me a half-trained chimpanzee and I take comfort from her as apes do. By day I cannot bear to see her; for she has the insane look of the bewildered half-broken animal in her eye, no one else sees it, but I do, and I cannot bear it. On the whole, at any rate, I have achieved what I have set out to achieve. But do not tell me that it was not worth the trouble. In any case, I am not appealing to any man’s verdict. I am only imparting knowledge, I am only making a report. To you also, honored Members of the Academy, I have only made a report.

In her book The Government-Citizen Disconnect, the political scientist Suzanne Mettler reports that 96 percent of American adults have relied on a major government program at some point in their lives. Rich, middle-class, and poor families depend on different kinds of programs, but the average rich and middle-class family draws on the same number of government benefits as the average poor family. Student loans look like they were issued from a bank, but the only reason banks hand out money to eighteen-year-olds with no jobs, no credit, and no collateral is because the federal government guarantees the loans and pays half their interest. Financial advisers at Edward Jones or Prudential can help you sign up for 529 college savings plans, but those plans' generous tax benefits will cost the federal government an estimated $28.5 billion between 2017 and 2026. For most Americans under the age of sixty-five, health insurance appears to come from their jobs, but supporting this arrangement is one of the single largest tax breaks issued by the federal government, one that exempts the cost of employer-sponsored health insurance from taxable incomes. In 2022, this benefit is estimated to have cost the government $316 billion for those under sixty-five. By 2032, its price tag is projected to exceed $6oo billion. Almost half of all Americans receive government-subsidized health benefits through their employers, and over a third are enrolled in government-subsidized retirement benefits. These participation rates, driven primarily by rich and middle-class Americans, far exceed those of even the largest programs directed at low income families, such as food stamps (14 percent of Americans) and the Earned Income Tax Credit (19 percent). Altogether, the United States spent $1.8 trillion on tax breaks in 2021. That amount exceeded total spending on law enforcement, education, housing, healthcare, diplomacy, and everything else that makes up our discretionary budget. Roughly half the benefits of the thirteen largest individual tax breaks accrue to the richest families, those with incomes that put them in the top 20 percent. The top I percent of income earners take home more than all middle-class families and double that of families in the bottom 20 percent. I can't tell you how many times someone has informed me that we should reduce military spending and redirect the savings to the poor. When this suggestion is made in a public venue, it always garners applause. I've met far fewer people who have suggested we boost aid to the poor by reducing tax breaks that mostly benefit the upper class, even though we spend over twice as much on them as on the military and national defense.