Issue Price Quotes

It’s amazing that people don’t understand that the more the market is involved and the smaller the government, the lower the price, the better the distribution, and the higher the quality.

The bigger the issue, the smaller you write. Remember that. You don’t write about the horrors of war. No. You write about a kid’s burnt socks lying on the road. You pick the smallest manageable part of the big thing, and you work off the resonance.

Hypocrisy, double standards, and "but nots" are the price of universalist pretensions. Democracy is promoted, but not if it brings Islamic fundamentalists to power; nonproliferation is preached for Iran and Iraq, but not for Israel; free trade is the elixir of economic growth, but not for agriculture; human rights are an issue for China, but not with Saudi Arabia; aggression against oil-owning Kuwaitis is massively repulsed, but not against non-oil-owning Bosnians. Double standards in practice are the unavoidable price of universal standards of principle.

Rochester talking to Jane: I see no enemy to a fortunate issue but in the brow; and that brow professes to say,--'I can live alone, if self-respect and circumstances require me so to do. I need not sell my soul to buy bliss. I have an inward treasure, born with me, which can keep me alive if all extraneous delights should be withheld; or offered only at a price I cannot afford to give.' The forehead declares, 'Reason sits firm and holds the reins, and she will not let the feelings burst away and hurry her to wild chasms. The passions may rage furiously, like true heathens, as they are; and the desires may imagine all sorts of vain things: but judgment shall still have the last word in every argument, and the casting vote in every decision. Strong wind, earthquake-shock, and fire may pass by: but I shall follow the guiding of that still small voice which interprets the dictates of conscience'"

For fairness and loyalty, however important to the head, were issues that could seldom be squared in the human heart, at the deepest depths of which lay the mystery of affection, of love, which you either felt or you didn't, pure as instinct, which seized you, not the other way around, making a mockery of words like "should" and "ought". The human heart, where compromise could not be struck, not ever. Where transgressions exacted a terrible price. Where tangled black limbs fell. Where the boom got lowered.

Every decision you ever make has its own consequences. Freedom is not the issue. You have freedom to do what you want, you just cannot do it and not pay the price for it.

When writing a novel a writer should create living people; people not characters. A character is a caricature. If a writer can make people live there may be no great characters in his book, but it is possible that his book will remain as a whole; as an entity; as a novel. If the people the writer is making talk of old masters; of music; of modern painting; of letters; or of science then they should talk of those subjects in the novel. If they do not talk of these subjects and the writer makes them talk of them he is a faker, and if he talks about them himself to show how much he knows then he is showing off. No matter how good a phrase or a simile he may have if he puts it in where it is not absolutely necessary and irreplaceable he is spoiling his work for egotism. Prose is architecture, not interior decoration, and the Baroque is over. For a writer to put his own intellectual musings, which he might sell for a low price as essays, into the mouths of artificially constructed characters which are more remunerative when issued as people in a novel is good economics, perhaps, but does not make literature. People in a novel, not skillfully constructed characters, must be projected from the writer’s assimilated experience, from his knowledge, from his head, from his heart and from all there is of him. If he ever has luck as well as seriousness and gets them out entire they will have more than one dimension and they will last a long time. A good writer should know as near everything as possible. Naturally he will not. A great enough writer seems to be born with knowledge. But he really is not; he has only been born with the ability to learn in a quicker ratio to the passage of time than other men and without conscious application, and with an intelligence to accept or reject what is already presented as knowledge. There are some things which cannot be learned quickly and time, which is all we have, must be paid heavily for their acquiring. They are the very simplest things and because it takes a man’s life to know them the little new that each man gets from life is very costly and the only heritage he has to leave. Every novel which is truly written contributes to the total of knowledge which is there at the disposal of the next writer who comes, but the next writer must pay, always, a certain nominal percentage in experience to be able to understand and assimilate what is available as his birthright and what he must, in turn, take his departure from. If a writer of prose knows enough about what he is writing about he may omit things that he knows and the reader, if the writer is writing truly enough, will have a feeling of those things as strongly as though the writer had stated them. The dignity of movement of an ice-berg is due to only one-eighth of it being above water. A writer who omits things because he does not know them only makes hollow places in his writing. A writer who appreciates the seriousness of writing so little that he is anxious to make people see he is formally educated, cultured or well-bred is merely a popinjay. And this too remember; a serious writer is not to be confounded with a solemn writer. A serious writer may be a hawk or a buzzard or even a popinjay, but a solemn writer is always a bloody owl.

Interestingly, adults are only shamed for having an obsessive interest if that interest is a bit too “strange,” and doesn’t come with the opportunity to rack up a lot of achievements or make a lot of money. People who routinely complete eighty-hour workweeks aren’t penalized for being obsessive or hyperfixated; they’re celebrated for their diligence. If an adult fills their evenings after work learning to code or creating jewelry that they sell on Etsy, they’re seen as enterprising. But if someone instead devotes their free time to something that gives them pleasure but doesn’t financially benefit anyone, it’s seen as frivolous or embarrassing, even selfish. In this instance, it’s clear that the punishing rules imposed on Autistic children reflect a much broader societal issue: pleasure and nonproductive, playful time are not valued, and when someone is passionate about the “wrong” things, that passion is discouraged because it presents a distraction from work and other “respectable” responsibilities.

For a writer to put his own intellectual musings, which he might sell for a low price as essays, into the mouths of artificially constructed characters which are more remunerative when issued as people in a novel is good economics, perhaps, but does not make literature.

Came the visions of icy beauty, from the land of death where they dwell. Pursuing their prize and grisly duty, came the thieves of the charm and spell. The bells chimed thrice, and death came a-calling. Alluring of shape though seldom seen, they traveled the breeze on a spark. some fed twigs to their newborn queen, while others invaded the dark. the bells chimed thrice, and death came a-calling. some they called and others they kissed as they traveled on river and wave. with resolve they came and did insist: every one touched to a grave. the bells chimed thrice, and death came a-calling. roving to hunt and gathering to dance, they practiced their dark desires by casting a hex and a beautiful trance, before feeding the queen's new fires. the bells chimed thrice, and death came a-calling. till he parted the falls and the bells chimed thrice, till he issued the calls and demanded the price. the bells chimed thrice and death met the mountain. they charmed and embraced and they tried to extoll but he bade them in grace and demanded a soul. the bells fell silent and the mountain slew them all. and the mountain entombed them all.

I consider it completely irresponsible that public schools offer sex education but no systematic guidance to adolescent girls, who should be thinking about how they want to structure their future lives: do they want children, and if so, when should that be scheduled, with the advantages and disadvantages of each option laid out. Because of the stubborn biological burden of pregnancy and childbirth, these are issues that will always affect women more profoundly than men. Starting a family early has its price for an ambitions young woman, a career hiatus that may be difficult to overcome. On the other hand, the reward of being with one's children in their formative years, instead of farming out that fleeting and irreplaceable experience to day care centres or nannies, has an inherent emotional and perhaps spiritual value that has been lamentable ignored by second-wave feminism.

As in many other games, moving first is an advantage in single-issue negotiations—for example, when price is the only issue to be settled between a buyer and a seller. As you may have experienced when negotiating for the first time in a bazaar, the initial anchor has a powerful effect. My

I ask them, “If the product were free, how many would you actually deploy or use?” The goal is to take pricing away as an issue and see whether the product itself gets customers excited. If it does, I follow up with: “OK, it’s not free. In fact, imagine I charged you $1 million. Would you buy it?” While this may sound like a facetious dialog, I use it all the time. Why? Because more than half the time customers will say something like, “Steve, you’re out of your mind. This product isn’t worth more than $250,000.” I’ve just gotten customers to tell me how much they are willing to pay. Wow.

People tolerate taxes for a while because they have previously accumulated wealth. As the tax burden grows and productivity falls, tax revenue falls and the only answer seems to be higher taxes. If the people can no longer tolerate higher taxes, government merely borrows and creates new money, and then the inflation tax is paid with higher prices. The whole process destabilizes the political system and eventually becomes a threat to civilized progress.

Farah gaped, unable to fathom his brutality. She shouldn't be shocked, she'd been around the worst sort of criminals for more years than she'd care to admit. But, somehow, it astounded her that one so cultured, so relaxed and wealthy and tailored, could issue such a threat with a civil tongue. The criminals of her acquaintance were dirty and foul with explosive tempers and crude language. Blackwell threatened violence as though discussing the price of Irish potatoes.

And if you buy the new issue after it begins trading, usually at a higher price, you are even more certain to lose.

Bremer issued orders that effectively purged the Iraqi government of Baath Party members and then disbanded the Iraqi Army, virtually guaranteeing an anti-American insurgency.

We tend to be both easily disturbed by sound in our environment, and unable to tell when a noise actually merits our attention, at the same time.[44] I often brute-force my way into paying attention to something by shutting the rest of the world out. I think it’s also likely that lifelong masking has rendered me hypervigilant, almost as a trauma response. My sensory system is used to scanning the environment, to determine whether I’m alone and thus “safe” enough to be myself. Trauma survivors often become hypervigilant, which tends to come with intense sensory issues.[45] Some researchers have also theorized that sensory issues in Autistics are, at least in part, caused by the anxiety and hypervigilance we experience from living in a world that doesn’t accommodate us, and often treats us with hostility.[46]

I cannot decide how much to borrow, what shares to issue, at what price, what wages and bonus to pay, and what dividend to give. I even need the government's permission for the salary I pay to a senior executive.

In their price range on Alice Island, all the houses are starter homes, though A.J. feels like he is past the starter home age of his life. Weird kitchens and floorplans, too-small rooms, ominous references to foundation issues.

These are all commodity-focused issues. The old conceit of a retailer was that if you offered the right products at a fair price in a convenient location, you’d do fine if you watched your expenses. Today, the issues are totally different.

One of the many signs of verbal virtuosity among intellectuals is the repackaging of words to mean things that are not only different from, but sometimes the direct opposite of, their original meanings. 'Freedom' and 'power' are among the most common of these repackaged words. The basic concept of freedom as not being subjected to other people's restrictions, and of power as the ability to restrict other people's options have both been stood on their heads in some of the repackaging of these words by intellectuals discussing economic issues. Thus business enterprises who expand the public's options, either quantitatively (through lower prices) or qualitatively (through better products) are often spoken of as 'controlling' the market, whenever this results in a high percentage of consumers choosing to purchase their particular products rather than the competing products of other enterprises. In other words, when consumers decide that particular brands of products are either cheaper or better than competing brands of those products, third parties take it upon themselves to depict those who produced these particular brands as having exercised 'power' or 'control.' If, at a given time, three-quarters of the consumers prefer to buy the Acme brand of widgets to any other brand, then Acme Inc. will be said to 'control' three-quarters of the market, even though consumers control 100 percent of the market, since they can switch to another brand of widgets tomorrow if someone else comes up with a better widget, or stop buying widgets altogether if a new product comes along that makes widgets obsolete. ....by saying that businesses have 'power' because they have 'control' of their markets, this verbal virtuosity opens the way to saying that government needs to exercise its 'countervailing power' (John Kenneth Galbraith's phrase) in order to protect the public. Despite the verbal parallels, government power is in fact power, since individuals do not have a free choice as to whether or not to obey government laws and regulations, while consumers are free to ignore the products marketed by even the biggest and supposedly most 'powerful' corporations in the world.

On behalf of those you killed, imprisoned, tortured, you are not welcome, Erdogan! No, Erdogan, you’re not welcome in Algeria. We are a country which has already paid its price of blood and tears to those who wanted to impose their caliphate on us, those who put their ideas before our bodies, those who took our children hostage and who attempted to kill our hopes for a better future. The notorious family that claims to act in the name of the God and religion—you’re a member of it—you fund it, you support it, you desire to become its international leader. Islamism is your livelihood Islamism, which is your livelihood, is our misfortune. We will not forget about it, and you are a reminder of it today. You offer your shadow and your wings to those who work to make our country kneel down before your “Sublime Door.” You embody and represent what we loathe. You hate freedom, the free spirit. But you love parades. You use religion for business. You dream of a caliphate and hope to return to our lands. But you do it behind the closed doors, by supporting Islamist parties, by offering gifts through your companies, by infiltrating the life of the community, by controlling the mosques. These are the old methods of your “Muslim Brothers” in this country, who used to show us God’s Heaven with one hand while digging our graves with the other. No, Mr. Erdogan, you are not a man of help; you do not fight for freedom or principles; you do not defend the right of peoples to self-determination. You know only how to subject the Kurds to the fires of death; you know only how to subject your opponents to your dictatorship. You cry with the victims in the Middle East, yet sign contracts with their executioners. You do not dream of a dignified future for us, but of a caliphate for yourself. We are aware of your institutionalized persecution, your list of Turks to track down, your sinister prisons filled with the innocent, your dictatorial justice palaces, your insolence and boastful nature. You do not dream of a humanity that shares common values and principles, but are interested only in the remaking of the Ottoman Empire and its bloodthirsty warlords. Islam, for you, is a footstool; God is a business sign; modernity is an enemy; Palestine is a showcase; and local Islamists are your stunned courtesans. Humanity will not remember you with good deeds Humanity will remember you for your machinations, your secret coups d’état, and your manhunts. History will remember you for your bombings, your vengeful wars, and your inability to engage in constructive dialogue with others. The UN vote for Al-Quds is only an instrument in your service. Let us laugh at this with the Palestinians. We know that the Palestinian issue is your political capital, as it is for many others. You know well how to make a political fortune by exploiting others’ emotions. In Algeria, we suffered, and still suffer, from those who pretend to be God and act as takers and givers of life. They applaud your coming, but not us. You are the idol of Algerian Islamists and Populists, those who are unable to imagine a political structure beyond a caliphate for Muslim-majority societies. We aspire to become a country of freedom and dignity. This is not your ambition, nor your virtue. You are an illusion You have made beautiful Turkey an open prison and a bazaar for your business and loved ones. I hope that this beautiful nation rises above your ambitions. I hope that justice will be restored and flourish there once again, at least for those who have been imprisoned, tortured, bombed, and killed. You are an illusion, Erdogan—you know it and we know it. You play on the history of our humiliation, on our emotions, on our beliefs, and introduce yourself as a savior. However, you are a gravedigger, both for your own country and for your neighbors. Turkey is a political miracle, but it owes you nothing. The best thing you can do

Humboldt was the first to relate colonialism to the devastation of the environment. Again and again, his thoughts returned to nature as a complex web of life but also to man’s place within it. At the Rio Apure, he had seen the devastation caused by the Spanish who had tried to control the annual flooding by building a dam. To make matters worse, they had also felled the trees that had held the riverbanks together like ‘a very tight wall’ with the result that the raging river carried more land away each year. On the high plateau of Mexico City, Humboldt had observed how a lake that fed the local irrigation system had shrunk into a shallow puddle, leaving the valleys beneath barren. Everywhere in the world, Humboldt said, water engineers were guilty of such short-sighted follies. He debated nature, ecological issues, imperial power and politics in relation to each other. He criticized unjust land distribution, monocultures, violence against tribal groups and indigenous work conditions – all powerfully relevant issues today. As a former mining inspector, Humboldt had a unique insight into the environmental and economic consequences of the exploitation of nature’s riches. He questioned Mexico’s dependence on cash crops and mining, for example, because it bound the country to fluctuating international market prices. ‘The only capital,’ he said, that ‘increases with time, consists in the produce of agriculture’. All problems in the colonies, he was certain, were the result of the ‘imprudent activities of the Europeans’.

the consequences of scientific illiteracy are far more dangerous in our time than in any that has come before. It’s perilous and foolhardy for the average citizen to remain ignorant about global warming, say, or ozone depletion, air pollution, toxic and radioactive wastes, acid rain, topsoil erosion, tropical deforestation, exponential population growth. Jobs and wages depend on science and technology. If our nation can’t manufacture, at high quality and low price, products people want to buy, then industries will continue to drift away and transfer a little more prosperity to other parts of the world. Consider the social ramifications of fission and fusion power, supercomputers, data “highways,” abortion, radon, massive reductions in strategic weapons, addiction, government eavesdropping on the lives of its citizens, high-resolution TV, airline and airport safety, fetal tissue transplants, health costs, food additives, drugs to ameliorate mania or depression or schizophrenia, animal rights, superconductivity, morning-after pills, alleged hereditary antisocial predispositions, space stations, going to Mars, finding cures for AIDS and cancer. How can we affect national policy—or even make intelligent decisions in our own lives—if we don’t grasp the underlying issues?

Taft explained that the great issue in this campaign is "creeping socialism." Now that is the patented trademark of the special interest lobbies. Socialism is a scare word they have hurled at every advance the people have made in the last 20 years. Socialism is what they called public power. Socialism is what they called social security. Socialism is what they called farm price supports. Socialism is what they called bank deposit insurance. Socialism is what they called the growth of free and independent labor organizations. Socialism is their name for almost anything that helps all the people. When the Republican candidate inscribes the slogan "Down With Socialism" on the banner of his "great crusade," that is really not what he means at all. What he really means is, "Down with Progress--down with Franklin Roosevelt's New Deal," and "down with Harry Truman's fair Deal." That is what he means. (Rear Platform and Other Informal Remarks in SYRACUSE, NEW YORK (Near station, 1:25 p.m. October 10, 1952 ) trumanlibrary dot org publicpapers

It’s not easy to feel good about yourself when you are constantly being told you’re rubbish and/or part of the problem. That’s often the situation for people working in the public sector, whether these be nurses, civil servants or teachers. The static metrics used to measure the contribution of the public sector, and the influence of Public Choice theory on making governments more ‘efficient’, has convinced many civil-sector workers they are second-best. It’s enough to depress any bureaucrat and induce him or her to get up, leave and join the private sector, where there is often more money to be made. So public actors are forced to emulate private ones, with their almost exclusive interest in projects with fast paybacks. After all, price determines value. You, the civil servant, won’t dare to propose that your agency could take charge, bring a helpful long-term perspective to a problem, consider all sides of an issue (not just profitability), spend the necessary funds (borrow if required) and – whisper it softly – add public value. You leave the big ideas to the private sector which you are told to simply ‘facilitate’ and enable. And when Apple or whichever private company makes billions of dollars for shareholders and many millions for top executives, you probably won’t think that these gains actually come largely from leveraging the work done by others – whether these be government agencies, not-for-profit institutions, or achievements fought for by civil society organizations including trade unions that have been critical for fighting for workers’ training programmes.

He wants to know, “Why would you fuck up Tris’s Barbies?” and now I’m like, Shit, is this the price of the sacrifice for Caroline passing out unexpectedly early—that Nick has taken over the melancholy stage that usually follows Caroline’s inquisitive one? “I have three sisters and I know that’s some serious business, messing with another girl’s Barbies.” Okay, maybe he’s not being melancholy because his sarcastic smile lets me know he’s back to being standard-issue band-boy irony creature. Damn him that it somewhat makes me wanna jump his bones.

In 2013, the International Academy of Astronautics issued a 350-page report projecting that with enough funding and research, a space elevator capable of carrying multiple twenty-ton payloads might be possible by 2035. Price estimates usually range from $10 billion to $50 billion—a fraction of the $150 billion that went into the International Space Station.

The main barrier standing between ourselves and a local-food culture is not price, but attitude. The most difficult requirements are patience and a bit of restraint -- virtues that are hardly the property of the wealthy. These virtues seem to find precious little shelter, in fact, in any modern quarter of this nation founded by Puritans. Furthermore, we apply them selectively: browbeating our teenagers with the message that they should wait for sex, for example. Only if they wait to experience intercourse under the ideal circumstances (the story goes), will they know its true value. "Blah blah blah," hears the teenager: words issuing from a mouth that can't even wait for the right time to eat a tomatoes, but instead consumes tasteless ones all winter to satisfy a craving for everything NOW.

A prohibition on the hoarding or possession of gold was integral to the plan to devalue the dollar against gold and get people spending again. Against this background, FDR issued Executive Order 6102 on April 5, 1933, one of the most extraordinary executive orders in U.S. history. The blunt language over the signature of Franklin Delano Roosevelt speaks for itself: I, Franklin D. Roosevelt . . . declare that [a] national emergency still continues to exist and . . . do hereby prohibit the hoarding of gold coin, gold bullion, and gold certificates within the . . . United States by individuals, partnerships, associations and corporations.... All persons are hereby required to deliver, on or before May 1, 1933, to a Federal reserve bank . . . or to any member of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them.... Whoever willfully violates any provision of this Executive Order . . . may be fined not more than $10,000 or . . . may be imprisoned for not more than ten years. The people of the United States were being ordered to surrender their gold to the government and were offered paper money at the exchange rate of $20.67 per ounce. Some relatively minor exceptions were made for dentists, jewelers and others who made “legitimate and customary” use of gold in their industry or art. Citizens were allowed to keep $100 worth of gold, about five ounces at 1933 prices, and gold in the form of rare coins. The $10,000 fine proposed in 1933 for those who continued to hoard gold in violation of the president’s order is equivalent to over $165,000 in today’s money, an extraordinarily large statutory fine. Roosevelt followed up with a

In Victims of Memory, Mark Pendergrast shows how the recovered memory hoax destroyed families, ruined lives, and sent innocent parents to prison with no evidence that they had committed any crime or abuse. Yet it is embarrassingly clear that, as the price for getting published, Pendergrast must issue repeated, seemingly gratuitous protests, unconvincing and contrary to his own evidence, that this hysteria was not incited by feminist ideology.

Here was a perfect example of an essential Trump paradigm: he acceded to anyone who seemed to know more about any issue he didn’t care about, or simply one whose details he couldn’t bring himself to focus on closely. Great! he would say, punctuating every statement with a similar exclamation and regularly making an effort to jump from his chair. On the spot, Trump eagerly agreed to let Ryan run the health care bill and to make Price the Health and Human Services secretary.

How do you know?” his brother asked. “Everyone knows, West. Grain prices have collapsed. When did you last read an issue of the Times? Have you paid no attention to the discussions at the club or the taverns?” “Not when the subject was farming,” came West’s dour reply. He sat heavily, rubbing his temples. “I don’t like this. I thought we had agreed never to be serious about anything.” “I’m trying. But death and poverty have a way of making everything seem rather less amusing.

Has the United States been blessed for its critical role in Israel’s re-birth? Financially, America has certainly prospered. In the intervening 65 years since 1948, America has grown by 1,500%. In 1948 the gross domestic product (GDP) of the United States was just over $1 trillion dollars. In 2012 America’s GDP had grown to over $15.6 trillion per year. In the same period, the nation also enjoyed a time of great freedom, though what Americans have done with that freedom is another issue.

The protective tariff was perhaps the most controversial economic issue of the antebellum period. High tariffs, intended to protect Northern industry from foreign competition, were a terrible burden to the agricultural South, which had little industry to protect. To Southerners, the tariffs meant higher prices for manufactured goods because they bought them abroad and paid the tariff or because they bought them from Northerners at the inflated prices that tariff protection made possible.

A brick could be used to show you how to live a richer, fuller, more satisfying life. Don’t you want to have fulfillment and meaning saturating your existence? I can show you how you can achieve this and so much more with just a simple brick. For just $99.99—not even an even hundred bucks, I’ll send you my exclusive life philosophy that’s built around a brick. Man’s used bricks to build houses for centuries. Now let one man, me, show you how a brick can be used to build your life up bigger and stronger than you ever imagined. But act now, because supplies are limited. This amazing offer won’t last forever. You don’t want to wake up in ten years to find yourself divorced, homeless, and missing your testicles because you waited even two hours too long to obtain this information. Become a hero today—save your life. Procrastination is only for the painful things in life. We prolong the boring, but why put off for tomorrow the exciting life you could be living today? If you’re not satisfied with the information I’m providing, I’m willing to offer you a no money back guarantee. That’s right, you read that wrong. If you are not 100% dissatisfied with my product, I’ll give you your money back. For $99.99 I’m offering 99.99%, but you’ve got to be willing to penny up that percentage to 100. Why delay? The life you really want is mine, and I’m willing to give it to you—for a price. That price is a one-time fee of $99.99, which of course everyone can afford—even if they can’t afford it. Homeless people can’t afford it, but they’re the people who need my product the most. Buy my product, or face the fact that in all probability you are going to end up homeless and sexless and unloved and filthy and stinky and probably even disabled, if not physically than certainly mentally. I don’t care if your testicles taste like peanut butter—if you don’t buy my product, even a dog won’t lick your balls you miserable cur. I curse you! God damn it, what are you, slow? Pay me my money so I can show you the path to true wealth. Don’t you want to be rich? Everything takes money—your marriage, your mortgage, and even prostitutes. I can show you the path to prostitution—and it starts by ignoring my pleas to help you. I’m not the bad guy here. I just want to help. You have some serious trust issues, my friend. I have the chance to earn your trust, and all it’s going to cost you is a measly $99.99. Would it help you to trust me if I told you that I trust you? Well, I do. Sure, I trust you. I trust you to make the smart decision for your life and order my product today. Don’t sleep on this decision, because you’ll only wake up in eight hours to find yourself living in a miserable future. And the future indeed looks bleak, my friend. War, famine, children forced to pimp out their parents just to feed the dog. Is this the kind of tomorrow you’d like to live in today? I can show you how to provide enough dog food to feed your grandpa for decades. In the future I’m offering you, your wife isn’t a whore that you sell for a knife swipe of peanut butter because you’re so hungry you actually considered eating your children. Become a hero—and save your kids’ lives. Your wife doesn’t want to spread her legs for strangers. Or maybe she does, and that was a bad example. Still, the principle stands. But you won’t be standing—in the future. Remember, you’ll be confined to a wheelchair. Mushrooms are for pizzas, not clouds, but without me, your life will atom bomb into oblivion. Nobody’s dropping a bomb while I’m around. The only thing I’m dropping is the price. Boom! I just lowered the price for you, just to show you that you are a valued customer. As a VIP, your new price on my product is just $99.96. That’s a savings of over two pennies (three, to be precise). And I’ll even throw in a jar of peanut butter for free. That’s a value of over $.99. But wait, there’s more! If you call within the next ten minutes, I’ll even throw in a blanket free of charge. . .

WHAT DOES IT ALL MEAN? The lessons of market history are clear. Styles and fashions in investors’ evaluations of securities can and often do play a critical role in the pricing of securities. The stock market at times conforms well to the castle-in-the-air theory. For this reason, the game of investing can be extremely dangerous. Another lesson that cries out for attention is that investors should be very wary of purchasing today’s hot “new issue.” Most initial public offerings underperform the stock market as a whole. And if you buy the new issue after it begins trading, usually at a higher price, you are even more certain to lose. Investors would be well advised to treat new issues with a healthy dose of skepticism. Certainly investors in the past have built many castles in the air with IPOs. Remember that the major sellers of the stock of IPOs are the managers of the companies themselves. They try to time their sales to coincide with a peak in the prosperity of their companies or with the height of investor enthusiasm for some current fad. In such cases, the urge to get on the bandwagon—even in high-growth industries—produced a profitless prosperity for investors.

Such an increase in supply price [i.e. raw materials from the Global South], however, creates serious problems for capitalism. These arise not because of a diminishing rate of profit or a slide towards a stationary state as Ricardo had feared. Such fears relate in any case to long-run prospects. Increasing supply price, in so far as it gets translated to an increase in price, undermines the value of money, and that is a very serious and immediate issue for capitalism. If wealth-holders believe that the value of money in terms of commodities is going to fall over time, then nobody will hold wealth in its money-form.

sent by the gods, and divine, and that the goddesses, Isis, Nepthys, and Hathor, with Khemu, the Maker of Mankind, were seen in the birth chamber, glowing like gold. Also Pharaoh issued a decree that wherever the name of the Queen Ahura was graven in all the land, to it should be added the title "By the will of Amen, Mother of his Morning Star," and that a new hall should be built in the temple of Amen in the Northern Apt, and all about it carved the story of the coming of Prince Abi and of the vision of the Queen. But Ahura never lived to see this glorious place, since from the hour of her daughter's birth she began to sink. On the fourteenth day, the day of purification, she bade the nurse bring the beautiful babe, and gazed at it long and blessed it, and spoke with the Ka or Double of the child, which she said she saw lying on her arm beside it, bidding that Ka protect it well through the dangers of life and death until the hour of resurrection. Then she said that she heard Amen calling to her to pay the price which she had promised for the gift of the divine child, the price of her own life, and smiled upon Pharaoh her husband, and died happily with a radiant face. Now joy was turned to mourning, and during all the days of embalming Egypt wept for Ahura until, at length, the time came when her body was rowed

We have advised against the purchase at “full prices” of three important categories of securities: (1) foreign bonds, (2) ordinary preferred stocks, and (3) secondary common stocks, including, of course, original offerings of such issues. By “full prices” we mean prices close to par for bonds or preferred stocks, and prices that represent about the fair business value of the enterprise in the case of common stocks. The greater number of defensive investors are to avoid these categories regardless of price; the enterprising investor is to buy them only when obtainable at bargain prices—which we define as prices not more than two-thirds of the appraisal value of the securities.

Theoretical models encompass a wide range of assumptions about domestic public debt. The overwhelming majority of models simply assume that debt is always honored. These include models in which deficit policy is irrelevant due to Ricardian equivalence.7 (Ricardian equivalence is basically the proposition that when a government cuts taxes by issuing debt, the public does not spend any of its higher after-tax income because it realizes it will need to save to pay taxes later.) Models in which debt is always honored include those in which domestic public debt is a key input in price level determination through the government’s budget constraint and models in which generations overlap

The key difference between foot voting and ballot box voting is that foot voters don’t have the same incentive to be rationally ignorant as ballot box voters do. In fact, they have strong incentives to seek out useful information. They also have much better incentives to objectively evaluate what they do learn. Unlike political fans, foot voters know they will pay a real price if they do a poor job of evaluating the information they get... The informational advantages of foot voting over ballot box voting strengthen the case for limiting and decentralizing government. The more decentralized government is, the more issues can be decided through foot voting. It is usually much easier to vote with your feet against a local government than a state government, and much easier to do it against a state than against the federal government. It is also usually easier to foot vote in the private sector than the public. A given region is likely to have far more private planned communities and other private sector organizations than local governments. Choosing among the former usually requires far less in the way of moving costs than choosing among the latter. Reducing the size of government could also alleviate the problem of ignorance by making it easier for rationally ignorant voters to monitor its activities. A smaller, less complicated government is easier to keep track of.

I began to question the world and other people from a young age. I suppose that gave me a sense of emotional distance, a lack of trust in future friendships and relationships; I would assume a friendly and open manner, a cloak of safety. The price you pay is a fear of commitment and all the loneliness that entails. I was quietly angry, always have been. I still feel it, but I’m working on it. If you’re anything like me you have to recognise this well of poison that we carry, isolate the reason why we’re always ready to spring up like a cobra and bite at any time, any place, anyone. Unless you deal with it you will always repeat the same disastrous mistakes. You’ve got to confront your demons.

That’s why it is so dangerous to use infatuation as a sign to pursue a relationship. If you and I don’t know the difference between infatuation and love, we are destined to make some of the dumbest and most regrettable decisions we’ll ever make. These bad decisions come with heavy and painful price tags. So you see, it’s imperative in this tricky business of “falling in love” that we take the time to clearly define what we mean by the word “love.” The investment will pay off handsomely. We can actually learn how to avoid future relational baggage and how to recognize authentic love relationships when we clarify two crucial issues: (1) what love is, and (2) what the difference is between love and infatuation.

When writing a novel a writer should create living people; people not characters. A character is a caricature. If a writer can make people live there may be no great characters in his book, but it is possible that his book will remain as a whole; as an entity; as a novel. If the people the writer is making talk of old masters; of music; of modern painting; of letters; or of science then they should talk of those subjects in the novel. If they do not talk of those subjects and the writer makes them talk of them he is a faker, and if he talks about them himself to show how much he knows then he is showing off. No matter how good a phrase or a simile he may have if he puts it in where it is not absolutely necessary and irreplaceable he is spoiling his work for egotism. Prose is architecture, not interior decoration, and the Baroque is over. For a writer to put his own intellectual musings, which he might sell for a low price as essays, into the mouths of artificially constructed characters which are more remunerative when issued as people in a novel is good economics, perhaps, but does not make literature. People in a novel, not skillfully constructed characters, must be projected from the writer’s assimilated experience, from his knowledge, from his head, from his heart and from all there is of him. If he ever has luck as well as seriousness and gets them out entire they will have more than one dimension and they will last a long time.

Consider finding a mate, someone to live with in a close relationship, usually as husband and wife. It is indeed a sort of market problem, in that the issue is not just finding a satisfactory person but also finding someone, confronted with the same search problem, who is willing to consider you as his or her best choice. Finding a match between husband and wife is like finding a trade in a financial market. It entails learning a market price (in the marriage market it is one’s attractiveness to certain kinds of potential spouses) and finding the best deal at that price. This analogy is not meant to put a commercial slant on a very personal problem, but instead to start us thinking about how we can design a better solution to the problem.

I know a lot of people like me. People who work overtime, never turning down additional work for fear of disappointing their boss. They're available to friends and loved ones twenty-four seven, providing an unending stream of support and advice. They care about dozens and dozens of social issues yet always feel guilty about not doing "enough" to address them, because there simply aren't enough hours in the day. These types of people often try to cram every waking moment with activity. After a long day at work, they try to teach themselves Spanish on the Duolingo app on their phone, for example, or they try to learn how to code in Python on sites like Code Academy. People like this -- people like me -- are doing everything society has taught us we have to do if we want to be virtuous and deserving of respect. We're committed employees, passionate activists, considerate friends, and perpetual students. We worry about the future. We plan ahead. We try to reduce our anxiety by controlling the things we can control -- and we push ourselves to work very, very hard. Most of us spend the majority of our days feeling tired, overwhelmed, and disappointed in ourselves, certain we've come up short. No matter how much we've accomplished or how hard we've worked, we never believe we've done enough to feel satisfied or at peace. We never think we deserve a break. Through all the burnouts, stress-related illnesses, and sleep-deprived weeks we endure, we remain convinced that having limitations makes us "lazy" -- and that laziness is always a bad thing.

Ah, dear Reader, is there a married man living who hasn’t purged his drawers and closets of premarital memorabilia, only to have one more incriminating relic from yester-life rear its lovely head? Kristy contends that old flames never die, not completely. They smolder for years in hidden places. They flare up again just when you think you’re over them. They can burn you if you don’t deal with them. Such is the price I’ve had to pay for not rooting out the evidence of my life B.C. (Before Contentment). Or, perhaps, for having planted it too well. But that, you see, is no longer an issue. Shall I tell you the crux of this argument? A man with a past can be forgiven. A man without one cannot be trusted. If there were no pictures in my drawer for Kirsty to uncover, I would have had to produce some.

Basically, Graham breaks the art of investing down into two simple variables – price and value. Value is what a business is worth. Price is what you have to pay to get it. Given the stock market’s manic-depressive behavior, numerous occasions arise where a business’ market price is distinctly out of line with its true business value. In such instances, an investor may be able to purchase a dollar of value for just 50 cents. Note that there is no mention here of interest rates, economic forecasts, technical charts, market cycles, etc. The only issues are price and value. I should also note that Graham emphasizes a large margin of safety. The strategy is not to buy a dollar of value for 97 cents. Rather, the gap should be dramatic so as to absorb the effects of miscalculation and worse-than-average luck.

The fact that it is not a single individual or group of individuals who control or coordinate the innumerable economic activities in a market economy, does not mean that they occur randomly or in a chaotic way. Each consumer, producer, retailer, rental land owner, or worker conducts individual transactions with other individuals on pre-agreed terms. Prices convey these terms not only to the individuals directly involved in the transaction, but throughout the entire economic system, and indeed throughout the world. When someone somewhere else has a better product or a lower price for the same product or service, this is passed on and influences everyone's decisions, without the need for a public official or planning commission to issue orders to consumers. or producers. In fact, this happens faster than any bureaucrat takes to collect the information necessary to make their decisions.

McDougall was a certified revolutionary hero, while the Scottish-born cashier, the punctilious and corpulent William Seton, was a Loyalist who had spent the war in the city. In a striking show of bipartisan unity, the most vociferous Sons of Liberty—Marinus Willett, Isaac Sears, and John Lamb—appended their names to the bank’s petition for a state charter. As a triple power at the new bank—a director, the author of its constitution, and its attorney—Hamilton straddled a critical nexus of economic power. One of Hamilton’s motivations in backing the bank was to introduce order into the manic universe of American currency. By the end of the Revolution, it took $167 in continental dollars to buy one dollar’s worth of gold and silver. This worthless currency had been superseded by new paper currency, but the states also issued bills, and large batches of New Jersey and Pennsylvania paper swamped Manhattan. Shopkeepers had to be veritable mathematical wizards to figure out the fluctuating values of the varied bills and coins in circulation. Congress adopted the dollar as the official monetary unit in 1785, but for many years New York shopkeepers still quoted prices in pounds, shillings, and pence. The city was awash with strange foreign coins bearing exotic names: Spanish doubloons, British and French guineas, Prussian carolines, Portuguese moidores. To make matters worse, exchange rates differed from state to state. Hamilton hoped that the Bank of New York would counter all this chaos by issuing its own notes and also listing the current exchange rates for the miscellaneous currencies. Many Americans still regarded banking as a black, unfathomable art, and it was anathema to upstate populists. The Bank of New York was denounced by some as the cat’s-paw of British capitalists. Hamilton’s petition to the state legislature for a bank charter was denied for seven years, as Governor George Clinton succumbed to the prejudices of his agricultural constituents who thought the bank would give preferential treatment to merchants and shut out farmers. Clinton distrusted corporations as shady plots against the populace, foreshadowing the Jeffersonian revulsion against Hamilton’s economic programs. The upshot was that in June 1784 the Bank of New York opened as a private bank without a charter. It occupied the Walton mansion on St. George’s Square (now Pearl Street), a three-story building of yellow brick and brown trim, and three years later it relocated to Hanover Square. It was to house the personal bank accounts of both Alexander Hamilton and John Jay and prove one of Hamilton’s most durable monuments, becoming the oldest stock traded on the New York Stock Exchange.

The art world assumed an air of polite remove from the activities of the K Foundation from then on in, and it soon became apparent that no suitable gallery was going to host their inaugural exhibition. This was called Money: A Major Body of Cash, and largely consisted of what money the pair still had from The KLF years nailed to things. The key piece was called Nailed To The Wall, and consisted of a million pounds in fifty pound notes nailed to a board. The reserve price for this was going to be half a million pounds. The purchaser could therefore double their money by simply taking it apart. If they hung it on the wall, however, the value of the notes would decrease over time, but the value of the art might well increase. The exhibition, then, raised many thorny issues about the relationship between art and money. Or at least it would have done, if a gallery had been found to put it on.

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.

God’s Quest, INTERCESSION. The heart of God is searching for those who will answer the need for someone to “stand in the gap.” The picture is clear: Without someone in place, invasion of the darkness occurs, and eventual destruction of people takes place. Answer the Holy Spirit’s call. Don’t allow the price that needs to be paid make intercession a passive issue. It will cost time, energy (Is. 64:7), sleep (Matt. 26:40), purity of motive (6:6), and greater faith than most other things we do. Immediate results are seldom seen; sometimes we may wait for many years to witness God’s answer, or it may occur beyond our own lifetime. Let us be the opposite of the neglect referenced in Isaiah 9:16; 63:5. God has made it clear from Genesis to Revelation that prayer is the match that lights the fuse to release the explosive power of the Holy Spirit in the affairs of men. Let us give it priority time.

I know that the consequences of scientific illiteracy are far more dangerous in our time than in any that has come before. It’s perilous and foolhardy for the average citizen to remain ignorant about global warming, say, or ozone depletion, air pollution, toxic and radioactive wastes, acid rain, topsoil erosion, tropical deforestation, exponential population growth. Jobs and wages depend on science and technology. If our nation can’t manufacture, at high quality and low price, products people want to buy, then industries will continue to drift away and transfer a little more prosperity to other parts of the world. Consider the social ramifications of fission and fusion power, supercomputers, data “highways,” abortion, radon, massive reductions in strategic weapons, addiction, government eavesdropping on the lives of its citizens, high-resolution TV, airline and airport safety, fetal tissue transplants, health costs, food additives, drugs to ameliorate mania or depression or schizophrenia, animal rights, superconductivity, morning-after pills, alleged hereditary antisocial predispositions, space stations, going to Mars, finding cures for AIDS and cancer. How can we affect national policy—or even make intelligent decisions in our own lives—if we don’t grasp the underlying issues? As I write, Congress is dissolving its own Office of Technology Assessment—the only organization specifically tasked to provide advice to the House and Senate on science and technology. Its competence and integrity over the years have been exemplary. Of the 535 members of the U.S. Congress, rarely in the twentieth century have as many as one percent had any significant background in science. The last scientifically literate President may have been Thomas Jefferson.* So how do Americans decide these matters? How do they instruct their representatives? Who in fact makes these decisions, and on what basis? —

We're all equal before a wave. —Laird Hamilton, professional surfer In 2005, I was working as an equity analyst at Merrill Lynch. When one afternoon I told a close friend that I was going to leave Wall Street, she was dumbfounded. "Are you sure you know what you're doing?" she asked me. This was her polite, euphemistic way of wondering if I'd lost my mind. My job was to issue buy or sell recommendations on corporate stocks—and I was at the top of my game. I had just returned from Mexico City for an investor day at America Movíl, now the fourth largest wireless operator in the world. As I sat in the audience with hundreds of others, Carlos Slim, the controlling shareholder and one of the world's richest men, quoted my research, referring to me as "La Whitney." I had large financial institutions like Fidelity Investments asking for my financial models, and when I upgraded or downgraded a stock, the stock price would frequently move several percentage points.

QUESTIONS TO IDENTIFY AND DIFFUSE DEAL-KILLING ISSUES Internal negotiating influence often sits with the people who are most comfortable with things as they are. Change may make them look as if they haven’t been doing their job. Your dilemma in such a negotiation is how to make them look good in the face of that change. You’ll be tempted to concentrate on money, but put that aside for now. A surprisingly high percentage of negotiations hinge on something outside dollars and cents. Often they have more to do with self-esteem, status, autonomy, and other nonfinancial needs. Think about their perceived losses. Never forget that a loss stings at least twice as much as an equivalent gain. For example, the guy across the table may be hesitating to install the new accounting system he needs (and you are selling) because he doesn’t want to screw anything up before his annual review in four months’ time. Instead of lowering your price, you can offer to help impress his boss, and do it safely, by promising to finish the installation in ninety days, guaranteed.

Don’t be one of those so-called leaders who take the Black vote for granted,” a supporter told me. I was sensitive to the criticism, for it wasn’t entirely wrong. A lot of Democratic politicians did take Black voters for granted—at least since 1968, when Richard Nixon had determined that a politics of white racial resentment was the surest path to Republican victory, and thereby left Black voters with nowhere else to go. It was not only white Democrats who made this calculation. There wasn’t a Black elected official who relied on white votes to stay in office who wasn’t aware of what Axe, Plouffe, and Gibbs were at least implicitly warning against—that too much focus on civil rights, police misconduct, or other issues considered specific to Black people risked triggering suspicion, if not a backlash, from the broader electorate. You might decide to speak up anyway, as a matter of conscience, but you understood there’d be a price—that Blacks could practice the standard special-interest politics of farmers, gun enthusiasts, or other ethnic groups only at their own peril.

Nearly all the bull markets had a number of well-defined characteristics in common, such as (1) a historically high price level, (2) high price/earnings ratios, (3) low dividend yields as against bond yields, (4) much speculation on margin, and (5) many offerings of new common-stock issues of poor quality. Thus to the student of stock-market history it appeared that the intelligent investor should have been able to identify the recurrent bear and bull markets, to buy in the former and sell in the latter, and to do so for the most part at reasonably short intervals of time. Various methods were developed for determining buying and selling levels of the general market, based on either value factors or percentage movements of prices or both. But we must point out that even prior to the unprecedented bull market that began in 1949, there were sufficient variations in the successive market cycles to complicate and sometimes frustrate the desirable process of buying low and selling high. The most notable of these departures, of course, was the great bull market of the late 1920s, which threw all calculations badly out

And as a long-short fund, he'd also been obligated to take short positions — betting against companies — which was a tactic that, to most experts in finance, was uncontroversial. The thinking went, when companies were performing poorly, or were mismanaged, or were in an industry that was being overrun, or were simply likely to fail, taking a short position wasn't just logical — it protected the marketplace by pointing out overpriced stocks, prevented fraud by acting as a check against dubious management, and poked holes in potential bubbles. Short sellers also added liquidity and volume to a stock — because they were obligated to buy the stock back at some point in the future. Yes, short sellers profited when companies failed, but usually a short seller wasn't banking on a company failing — just that the stock's price would eventually correct toward its true valuation. Sometimes, though, a trader picked up a short position because the company in question really was going to fail. Because, perhaps, it was in an industry that was dying; had management that seemed completely unable or unwilling to pivot; and had deep fundamental issues in its financing that seemed impossible to overcome.

Come close to God and He will come close to you. (JAMES 4:8) Not everyone is willing to pay the price required to be close to God. Not everyone is willing to simply take the time required or make the investments needed for spiritual growth. God doesn’t ask for all of our time. He certainly wants us to do things we don’t consider “spiritual.” He designed us with bodies, souls (minds, wills, and emotions), and spirits, and He expects us to take care of all these areas. Exercising our bodies and caring for our souls takes time and effort. Our emotions need to be ministered to; we need to have fun and be entertained, and we need to enjoy being with other people. Our minds need to grow and be renewed daily. In addition, we have a spiritual nature that needs attention. To stay balanced and healthy, we must take time to take care of our entire being. I believe the whole issue of intimacy with God is a matter of time. We say we don’t have time to seek God, but the truth is that we take time to do the things that are most important to us. Even though we all have to fight distractions every day, if knowing God and hearing from Him is important to us then we will find time to do it. Don’t try to work God into your schedule, but instead work your schedule around time with Him. Getting to know God is a long-term investment, so don’t get discouraged if you don’t get instant results. Be determined to honor Him with your time and you will reap the benefits. GOD’S WORD FOR YOU TODAY: Just like physical exercise, spiritual exercise needs to be done regularly. You’re sure to see the results.

The phone rang. It was a familiar voice. It was Alan Greenspan. Paul O'Neill had tried to stay in touch with people who had served under Gerald Ford, and he'd been reasonably conscientious about it. Alan Greenspan was the exception. In his case, the effort was constant and purposeful. When Greenspan was the chairman of Ford's Council of Economic Advisers, and O'Neill was number two at OMB, they had become a kind of team. Never social so much. They never talked about families or outside interests. It was all about ideas: Medicare financing or block grants - a concept that O'Neill basically invented to balance federal power and local autonomy - or what was really happening in the economy. It became clear that they thought well together. President Ford used to have them talk about various issues while he listened. After a while, each knew how the other's mind worked, the way married couples do. In the past fifteen years, they'd made a point of meeting every few months. It could be in New York, or Washington, or Pittsburgh. They talked about everything, just as always. Greenspan, O'Neill told a friend, "doesn't have many people who don't want something from him, who will talk straight to him. So that's what we do together - straight talk." O'Neill felt some straight talk coming in. "Paul, I'll be blunt. We really need you down here," Greenspan said. "There is a real chance to make lasting changes. We could be a team at the key moment, to do the things we've always talked about." The jocular tone was gone. This was a serious discussion. They digressed into some things they'd "always talked about," especially reforming Medicare and Social Security. For Paul and Alan, the possibility of such bold reinventions bordered on fantasy, but fantasy made real. "We have an extraordinary opportunity," Alan said. Paul noticed that he seemed oddly anxious. "Paul, your presence will be an enormous asset in the creation of sensible policy." Sensible policy. This was akin to prayer from Greenspan. O'Neill, not expecting such conviction from his old friend, said little. After a while, he just thanked Alan. He said he always respected his counsel. He said he was thinking hard about it, and he'd call as soon as he decided what to do. The receiver returned to its cradle. He thought about Greenspan. They were young men together in the capital. Alan stayed, became the most noteworthy Federal Reserve Bank chairman in modern history and, arguably the most powerful public official of the past two decades. O'Neill left, led a corporate army, made a fortune, and learned lessons - about how to think and act, about the importance of outcomes - that you can't ever learn in a government. But, he supposed, he'd missed some things. There were always trade-offs. Talking to Alan reminded him of that. Alan and his wife, Andrea Mitchell, White House correspondent for NBC news, lived a fine life. They weren't wealthy like Paul and Nancy. But Alan led a life of highest purpose, a life guided by inquiry. Paul O'Neill picked up the telephone receiver, punched the keypad. "It's me," he said, always his opening. He started going into the details of his trip to New York from Washington, but he's not much of a phone talker - Nancy knew that - and the small talk trailed off. "I think I'm going to have to do this." She was quiet. "You know what I think," she said. She knew him too well, maybe. How bullheaded he can be, once he decides what's right. How he had loved these last few years as a sovereign, his own man. How badly he was suited to politics, as it was being played. And then there was that other problem: she'd almost always been right about what was best for him. "Whatever, Paul. I'm behind you. If you don't do this, I guess you'll always regret it." But it was clearly about what he wanted, what he needed. Paul thanked her. Though somehow a thank-you didn't seem appropriate. And then he realized she was crying.

We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more than it is selling for. The genus includes bonds and preferred stocks selling well under par, as well as common stocks. To be as concrete as possible, let us suggest that an issue is not a true “bargain” unless the indicated value is at least 50% more than the price. What kind of facts would warrant the conclusion that so great a discrepancy exists? How do bargains come into existence, and how does the investor profit from them? There are two tests by which a bargain common stock is detected. The first is by the method of appraisal. This relies largely on estimating future earnings and then multiplying these by a factor appropriate to the particular issue. If the resultant value is sufficiently above the market price—and if the investor has confidence in the technique employed—he can tag the stock as a bargain. The second test is the value of the business to a private owner. This value also is often determined chiefly by expected future earnings—in which case the result may be identical with the first. But in the second test more attention is likely to be paid to the realizable value of the assets, with particular emphasis on the net current assets or working capital. At low points in the general market a large proportion of common stocks are bargain issues, as measured by these standards. (A typical example was General Motors when it sold at less than 30 in 1941, equivalent to only 5 for the 1971 shares. It had been earning in excess of $4 and paying $3.50, or more, in dividends.) It is true that current earnings and the immediate prospects may both be poor, but a levelheaded appraisal of average future conditions would indicate values far above ruling prices. Thus the wisdom of having courage in depressed markets is vindicated not only by the voice of experience but also by application of plausible techniques of value analysis.

BARGAIN-ISSUE PATTERN IN SECONDARY COMPANIES. We have defined a secondary company as one that is not a leader in a fairly important industry. Thus it is usually one of the smaller concerns in its field, but it may equally well be the chief unit in an unimportant line. By way of exception, any company that has established itself as a growth stock is not ordinarily considered “secondary.” In the great bull market of the 1920s relatively little distinction was drawn between industry leaders and other listed issues, provided the latter were of respectable size. The public felt that a middle-sized company was strong enough to weather storms and that it had a better chance for really spectacular expansion than one that was already of major dimensions. The depression years 1931–32, however, had a particularly devastating impact on the companies below the first rank either in size or in inherent stability. As a result of that experience investors have since developed a pronounced preference for industry leaders and a corresponding lack of interest most of the time in the ordinary company of secondary importance. This has meant that the latter group have usually sold at much lower prices in relation to earnings and assets than have the former. It has meant further that in many instances the price has fallen so low as to establish the issue in the bargain class. When investors rejected the stocks of secondary companies, even though these sold at relatively low prices, they were expressing a belief or fear that such companies faced a dismal future. In fact, at least subconsciously, they calculated that any price was too high for them because they were heading for extinction—just as in 1929 the companion theory for the “blue chips” was that no price was too high for them because their future possibilities were limitless. Both of these views were exaggerations and were productive of serious investment errors. Actually, the typical middle-sized listed company is a large one when compared with the average privately owned business. There is no sound reason why such companies should not continue indefinitely in operation, undergoing the vicissitudes characteristic of our economy but earning on the whole a fair return on their invested capital.

My eyes widened at that offer. I’d missed riding since coming to the Academy and I hadn’t really thought I’d be able to get out again any time soon. But I wasn’t sure I wanted him to know quite how much this meant to me. Every other piece of information the Heirs had gotten on me up until now had been twisted against me in some way and I didn’t want them trying to take this from me too. “I’m not really dressed for it,” I said slowly though in all honesty I had no issue with tying my dress in a knot around my waist if that was what it took to get me out on the road. “I’m sure I could lend you my shirt if you want to take it off,” he replied. “That would require both of us taking off rather a lot of our clothes.” There was a dare hanging in the air between us and I was afraid that I wouldn’t be able to resist it much longer. I eyed the line up of bikes, my heart beating a little faster as I tried to decide which one I’d choose. In all honesty I was too drunk to ride, although the sandwich was mopping up some of the excess alcohol and I was feeling a little less dizzy... It still wouldn’t have been the best idea though. “Why do you have the same bikes that that they have in the mortal world?” I asked as I began to wander between the immaculate machines. Some of the badges were different, I read names like Yamaharpy, Sphinxzuki, Hondusa, Harley Dragonson and I couldn’t keep the smirk from my lips but the actual bikes were definitely mortal models. “There are several permanent rifts between our world and the mortal world where we import all sorts of goods like these. The importers like to change the names as a kind of in-joke but a hell of a lot of our products come straight out of Taiwan or China, direct to Solaria,” Darius explained. “Why?” I asked. “Can’t Fae invent their own bikes and cars?” “I guess we could... but why bother? We’ve got better things to do with our time and it makes sense to use the mortals like our own personal goods suppliers. The Fae they deal with even manage to Coerce the best prices for everything we import. No Fae vendor would create any of the things we desire so cheaply.” Darius folded his arms and leaned back to perch on the saddle of a stunning green bike as he watched my exploration. “So you basically abuse the mortals with your power?” I asked. “We use our power to take what we want from them,” he agreed. “Just the same as we do with other Fae.” He had a point there; Fae were equally asshole-like to their own kind. (Tory)

How exactly the debt should be funded was to be the most inflammatory political issue. During the Revolution, many affluent citizens had invested in bonds, and many war veterans had been paid with IOUs that then plummeted in price under the confederation. In many cases, these upright patriots, either needing cash or convinced they would never be repaid, had sold their securities to speculators for as little as fifteen cents on the dollar. Under the influence of his funding scheme, with government repayment guaranteed, Hamilton expected these bonds to soar from their depressed levels and regain their full face value. This pleasing prospect, however, presented a political quandary. If the bonds appreciated, should speculators pocket the windfall? Or should the money go to the original holders—many of them brave soldiers—who had sold their depressed government paper years earlier? The answer to this perplexing question, Hamilton knew, would define the future character of American capital markets. Doubtless taking a deep breath, he wrote that “after the most mature reflection” about whether to reward original holders and punish current speculators, he had decided against this approach as “ruinous to public credit.”25 The problem was partly that such “discrimination” in favor of former debt holders was unworkable. The government would have to track them down, ascertain their sale prices, then trace all intermediate investors who had held the debt before it was bought by the current owners—an administrative nightmare. Hamilton could have left it at that, ducking the political issue and taking refuge in technical jargon. Instead, he shifted the terms of the debate. He said that the first holders were not simply noble victims, nor were the current buyers simply predatory speculators. The original investors had gotten cash when they wanted it and had shown little faith in the country’s future. Speculators, meanwhile, had hazarded their money and should be rewarded for the risk. In this manner, Hamilton stole the moral high ground from opponents and established the legal and moral basis for securities trading in America: the notion that securities are freely transferable and that buyers assume all rights to profit or loss in transactions. The knowledge that government could not interfere retroactively with a financial transaction was so vital, Hamilton thought, as to outweigh any short-term expediency. To establish the concept of the “security of transfer,” Hamilton was willing, if necessary, to reward mercenary scoundrels and penalize patriotic citizens. With this huge gamble, Hamilton laid the foundations for America’s future financial preeminence.

An unexpected sight opens in front of my eyes, a sight I cannot ignore. Instead of the calm waters in front of the fortress, the rear side offers a view of a different sea—the sea of small, dark streets and alleys—like an intricate puzzle. The breathtaking scenery visible from the other side had been replaced by the panorama of poverty–stricken streets, crumbling house walls, and dilapidated facades that struggle to hide the building materials beneath them. It reminds me of the ghettos in Barcelona, the ghettos I came to know far too well. I take a deep breath and look for a sign of life—a life not affected by its surroundings. Nothing. Down, between the rows of dirty dwellings stretches a clothesline. Heavy with the freshly washed laundry it droops down, droplets of water trickling onto the soiled pavement from its burden. Around the corner, a group of filthy children plays with a semi–deflated soccer ball—it makes a funny sound as it bounces off the wall—plunk, plunk. A man sitting on a staircase puts out a cigarette; he coughs, spits phlegm on the sidewalk, and lights a new one. A mucky dog wanders to a house, lifts his leg, and pisses on it. His urine flows down the wall and onto the street, forming a puddle on the pavement. The children run about, stepping in the piss, unconcerned. An old woman watches from the window, her large breasts hanging over the windowsill for the world to see. Une vie ordinaire, a mundane life...life in its purest. These streets bring me back to all the places I had escaped when I sneaked onto the ferry. The same feeling of conformity within despair, conformity with their destiny, prearranged long before these people were born. Nothing ever changes, nothing ever disturbs the gloomy corners of the underworld. Tucked away from the bright lights, tucked away from the shiny pavers on the promenade, hidden from the eyes of the tourists, the misery thrives. I cannot help but think of myself—only a few weeks ago my life was not much different from the view in front of my eyes. Yet, there is a certain peace soaring from these streets, a peace embedded in each cobblestone, in each rotten wall. The peace of men, unconcerned with the rest of the world, disturbed neither by global issues, nor by the stock market prices. A peace so ancient that it can only be found in the few corners of the world that remain unchanged for centuries. This is one of the places. I miss the intricacy of the street, I miss the feeling of excitement and danger melted together into one exceptional, nonconforming emotion. There is the real—the street; and then there is all the other—the removed. I am now on the other side of reality, unable to reach out with my hand and touch the pure life. I miss the street.

Leonard H. Stringfield 1)Retrievals of the Third Kind: A Case Study of Alleged UFOs and Occupants in Military Custody. The first formal research paper presented publicly on the subject of UFO crash/retrievals at the MUFON Symposium, Dayton, Ohio, July, 1978. Original edition, dated April, 1978, was published in MUFON Proceedings (1978). Address: MUFON, 103 Oldtowne Road, Seguin, Texas 78155. If available, price___________. 2)Retrievals of the Third Kind: A Case Study of Alleged UFOs and Occupants in Military Custody,Status Report I. Revised edition, July, 1978, word processed copy, 34 pages. Available at author's address. See below. Price, USA___________. 3)UFO Crash/Retrieval Syndrome, Status Report II. Published by MUFON. Flexible cover, typeset, illustrations, 37 pages. Available only at MUFON address: 103 Oldtowne Road, Seguin, Texas 78155. Price, USA___________. 4)UFO Crash/Retrievals: Amassing the Evidence, Status Report III, June 1982; flexible cover, typeset, illustrations, 53 pages. Available from author's address. See below. Price, USA___________. 5)The Fatal Encounter at Ft. Dix -- McGuire: A Case Study, Status Report IV, June, 1985. Paper presented at MUFON Symposium, St. Louis, Missouri, 1985. Xeroxed copy, 26 pages. Available at author's address. See below. Price, USA___________. 6)UFO Crash/Retrievals: Is the Coverup Lid Lifting? Status Report V. Published in MUFON UFO Journal, January, 1989, with updated addendum. Xeroxed copy, 23 pages. Available at author's address. See below. Price, USA___________. 7)Inside Saucer Post, 3-0 Blue. Book privately published, 1957. Review of author's early research and cooperative association with the Air Defense Command Filter Center, using code name, FOX TROT KILO 3-0 BLUE. Flexible cover, typeset, illustrations, 94 pages. Available from author's address. See below. Price, USA___________. 8)Situation Red: The UFO Siege. Hardcover book published by Doubleday & Co., 1977. Paperback edition published by Fawcett Crest Books, 1977. Also foreign publishers. Out of print, not available. 9)Orbit Newsletter, published monthly, 1954-1957, by author for international sale and distribution. Set of 36 issues. Some issues out of stock, duplicated by xerox. Available at author's address -- see below. Price of set, USA___________. 10)UFO Crash/Retrievals: The Inner Sanctum, Status Report VI, July, 1991; flexible cover, book length, 81.000 words, 142 (8-1/2 X 11) pages, illustrated. Privately published. Available from author's address. See below. Price, USA___________. Prices include postage and handling. Mailings to Canada, add 500 for each item ordered. All foreign orders, payable U.S. funds, International money order or draft on U.S. Bank. Recommend Air Mail outside U.S. territories. Check on price. Leonard H. Stringfield 4412 Grove Avenue Cincinnati, Ohio 45227 USA Telephone: (513) 271-4248

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Think about it,” Obama said to us on the flight over. “The Republican Party is the only major party in the world that doesn’t even acknowledge that climate change is happening.” He was leaning over the seats where Susan and I sat. We chuckled. “Even the National Front believes in climate change,” I said, referring to the far-right party in France. “No, think about it,” he said. “That’s where it all began. Once you convince yourself that something like that isn’t true, then…” His voice trailed off, and he walked out of the room. For six years, Obama had been working to build what would become the Paris agreement, piece by piece. Because Congress wouldn’t act, he had to promote clean energy, and regulate fuel efficiency and emissions through executive action. With dozens of other nations, he made climate change an issue in our bilateral relationship, helping design their commitments. At international conferences, U.S. diplomats filled in the details of a framework. Since the breakthrough with China, and throughout 2015, things had been falling into place. When we got to Paris, the main holdout was India. We were scheduled to meet with India’s prime minister, Narendra Modi. Obama and a group of us waited outside the meeting room, when the Indian delegation showed up in advance of Modi. By all accounts, the Indian negotiators had been the most difficult. Obama asked to talk to them, and for the next twenty minutes, he stood in a hallway having an animated argument with two Indian men. I stood off to the side, glancing at my BlackBerry, while he went on about solar power. One guy from our climate team came over to me. “I can’t believe he’s doing this,” he whispered. “These guys are impossible.” “Are you kidding?” I said. “It’s an argument about science. He loves this.” Modi came around the corner with a look of concern on his face, wondering what his negotiators were arguing with Obama about. We moved into the meeting room, and a dynamic became clear. Modi’s team, which represented the institutional perspective of the Indian government, did not want to do what is necessary to reach an agreement. Modi, who had ambitions to be a transformative leader of India, and a person of global stature, was torn. This is one reason why we had done the deal with China; if India was alone, it was going to be hard for Modi to stay out. For nearly an hour, Modi kept underscoring the fact that he had three hundred million people with no electricity, and coal was the cheapest way to grow the Indian economy; he cared about the environment, but he had to worry about a lot of people mired in poverty. Obama went through arguments about a solar initiative we were building, the market shifts that would lower the price of clean energy. But he still hadn’t addressed a lingering sense of unfairness, the fact that nations like the United States had developed with coal, and were now demanding that India avoid doing the same thing. “Look,” Obama finally said, “I get that it’s unfair. I’m African American.” Modi smiled knowingly and looked down at his hands. He looked genuinely pained. “I know what it’s like to be in a system that’s unfair,” he went on. “I know what it’s like to start behind and to be asked to do more, to act like the injustice didn’t happen. But I can’t let that shape my choices, and neither should you.” I’d never heard him talk to another leader in quite that way. Modi seemed to appreciate it. He looked up and nodded.

The end of the war will see the final ruin of the Jew. The Jew is the incarnation of egoism. And their egoism goes so far that they're not even capable of risking their lives for the defence of their most vital interests. The Jew totally lacks any interest in things of the spirit. If he has pretended in Germany to have a bent for literature and the arts, that's only out of snobbery, or from a liking for speculation. He has no feeling for art, and no sensibility. Except in the regions where they live in groups, the Jews are said to have reached a very high cultural level! Take Nuremberg, for example: for four hundred years—that is to say, until 1838—it hadn't a single Jew in its population. Result: a situation in the first rank of German cultural life. Put the Jews all together: by the end of three hundred years, they'll have devoured one another. Where we have a philosopher, they have a Talmudistic pettifogger. What for us is an attempt to get to the bottom of things and express the inexpressible, becomes for the Jew a pretext for verbal juggleries. His only talent is for masticating ideas so as to disguise his thought. He has observed that the Aryan is stupid to the point of accepting anything in matters of religion, as soon as the idea of God is recognised. With the Aryan, the belief in the Beyond often takes a quite childish form ; but this belief does represent an effort towards a deepening of things. The man who doesn't believe in the Beyond has no understanding of religion. The great trick of Jewry was to insinuate itself fraudulently amongst the religions with a religion like Judaism, which in reality is not a religion. Simply, the Jew has put a religious camouflage over his racial doctrine. Everything he undertakes is built on this lie. The Jew can take the credit for having corrupted the Graeco- Roman world. Previously words were used to express thoughts; he used words to invent the art of disguising thoughts. Lies are his strength, his weapon in the struggle. The Jew is said to be gifted. His only gift is that of juggling with other people's property and swindling each and everyone. Suppose I find by chance a picture that I believe to be a Titian. I tell the owner what I think of it, and I offer him a price. In a similar case, the Jew begins by declaring that the picture is valueless, he buys it for a song and sells it at a profit of 5000 per cent. To persuade people that a thing which has value, has none, and vice versa—that's not a sign of intelligence. They can't even overcome the smallest economic crisis! The Jew has a talent for bringing confusion into the simplest matters, for getting everything muddled up. Thus comes the moment when nobody understands anything more about the question at issue. To tell you something utterly insignificant, the Jew drowns you in a flood of words. You try to analyse what he said, and you realise it's all wind. The Jew makes use of words to stultify his neighbours. And that's why people make them professors. The law of life is : "God helps him who helps himself!" It's so simple that everybody is convinced of it, and nobody would pay to learn it. But the Jew succeeds in getting himself rewarded for his meaningless glibness. Stop following what he says, for a moment, and at once his whole scaffolding collapses. I've always said, the Jews are the most diabolic creatures in existence, and at the same time the stupidest. They can't produce a musician, or a thinker. No art, nothing, less than nothing. They're liars, forgers, crooks. They owe their success only to the stupidity of their victims. If the Jew weren't kept presentable by the Aryan, he'd be so dirty he couldn't open his eyes. We can live without the Jews, but they couldn't live without us. When the Europeans realise that, they'll all become simultaneously aware of the solidarity that binds them together. The Jew prevents this solidarity. He owes his livelihood to the fact that this solidarity does not exist.

The Bradford Exchange—a knockoff of [Joseph] Segel’s [Franklin Mint] business—created a murky secondary market for its collector plates, complete with advertisements featuring its “brokers” hovering over computers, tracking plate prices. To underscore the idea of these mass-produced tchotchkes as upmarket, sophisticated investments, the company deployed some of its most aggressive ads (which later led to lawsuits) in magazines like Kiplinger’s Personal Finance and Architectural Digest. A 1986 sales pitch offered “The Sound of Music,” the first plate in a new series from the Edwin M. Knowles China Company, at a price of $19.50. Yet the ad copy didn’t emphasize the plate itself. Rather, bold type introduced two so-called facts: “Fact: ‘Scarlett,’ the 1976 first issue in Edwin M. Knowles’ landmark series of collector’s plates inspired by the classic film Gone With the Wind, cost $21.60 when it was issued. It recently traded at $245.00—an increase of 1,040% in just seven years.” And “Fact: ‘The Sound of Music,’ the first issue in Knowles’ The Sound of Music series, inspired by the classic film of the same name, is now available for $19.50.” Later the ad advised that “it’s likely to increase in value.” Currently, those plates can be had on eBay for less than $5 each. In 1993 U.S. direct mail sales of collectibles totaled $1.7 billion

It soon became clear why investors were clamouring to buy a piece of TV18 for Rs 180 a share. The stock market delivered a belated Valentine’s Day squeeze to the company as it listed on the BSE on 16 February 2000. The Financial Express reported that ‘[t]he TV18 stock opened on BSE at Rs 1950, moved to a high of Rs 1990 before closing at Rs 1667.’4 Outlook Money magazine explained what this meant: Last Wednesday’s explosive listing of Television Eighteen’s shares was a spectacular event, even by the standards of a market that has seen plenty of fireworks this past year. Investors who were able to buy shares the company issued in December certainly expected a handsome appreciation from the public offer price of Rs 180. But not a few were stunned when within 15 minutes of commencement of trading in the company’s shares, they were trading at Rs 1990—an astonishing 1006 per cent gain!

Respond to a punch by pivoting terms, like switching to non-monetary issues when bargaining over price.   Say something like "What else can you offer to make this a good deal for me?" If your counterpart tries to force you to go first, wiggle your way out of it by alluding to a high figure someone else would charge.  Getting the other guy to go first gives you valuable information about him.  You can do it, as long as you know how to handle the first punch.

If I had been born a woman I would certainly have been a prostitute. Since I had been born a man, I craved women constantly, the lower the better. And yet women - good women - frightened me because they eventually wanted your soul, and what was left of mine, I wanted to keep. Basically I craved prostitutes, base women, because they were deadly and hard and made no personal demands. Nothing was lost when they left. Yet at the same time I yearned for a gentle, good woman, despite the overwhelming price. Either way I was lost. A strong man would give up both. I wasn't strong. So I continued to struggle with women, with the idea of women.

The government would have to track them down, ascertain their sale prices, then trace all intermediate investors who had held the debt before it was bought by the current owners—an administrative nightmare. Hamilton could have left it at that, ducking the political issue and taking refuge in technical jargon. Instead, he shifted the terms of the debate. He said that the first holders were not simply noble victims, nor were the current buyers simply predatory speculators. The original investors had gotten cash when they wanted it and had shown little faith in the country’s future. Speculators, meanwhile, had hazarded their money and should be rewarded for the risk. In this manner, Hamilton stole the moral high ground from opponents and established the legal and moral basis for securities trading in America: the notion that securities are freely transferable and that buyers assume all rights to profit or loss in transactions. The knowledge that government could not interfere retroactively with a financial transaction was so vital, Hamilton thought, as to outweigh any short-term expediency. To establish the concept of the “security of transfer,” Hamilton was willing, if necessary, to reward mercenary scoundrels and penalize patriotic citizens. With this huge gamble, Hamilton laid the foundations for America’s future financial preeminence. As his report progressed, Hamilton tiptoed through a field seeded thickly with deadly political traps. The next incendiary issue was that some debt was owed by the thirteen states, some by the federal government. Hamilton decided to consolidate all the debt into a single form: federal

Economics is a notoriously complicated subject. To make things easier, let’s imagine a simple example. Samuel Greedy, a shrewd financier, founds a bank in El Dorado, California. A. A. Stone, an up-and-coming contractor in El Dorado, finishes his first big job, receiving payment in cash to the tune of $1 million. He deposits this sum in Mr Greedy’s bank. The bank now has $1 million in capital. In the meantime, Jane McDoughnut, an experienced but impecunious El Dorado chef, thinks she sees a business opportunity – there’s no really good bakery in her part of town. But she doesn’t have enough money of her own to buy a proper facility complete with industrial ovens, sinks, knives and pots. She goes to the bank, presents her business plan to Greedy, and persuades him that it’s a worthwhile investment. He issues her a $1 million loan, by crediting her account in the bank with that sum. McDoughnut now hires Stone, the contractor, to build and furnish her bakery. His price is $1,000,000. When she pays him, with a cheque drawn on her account, Stone deposits it in his account in the Greedy bank. So how much money does Stone have in his bank account? Right, $2 million. How much money, cash, is actually located in the bank’s safe? Yes, $1 million. It doesn’t stop there. As contractors are wont to do, two months into the job Stone informs McDoughnut that, due to unforeseen problems and expenses, the bill for constructing the bakery will actually be $2 million. Mrs McDoughnut is not pleased, but she can hardly stop the job in the middle. So she pays another visit to the bank, convinces Mr Greedy to give her an additional loan, and he puts another $1 million in her account. She transfers the money to the contractor’s account. How much money does Stone have in his account now? He’s got $3 million. But how much money is actually sitting in the bank? Still just $1 million. In fact, the same $1 million that’s been in the bank all along. Current US banking law permits the bank to repeat this exercise seven more times. The contractor would eventually have $10 million in his account, even though the bank still has but $1 million in its vaults. Banks are allowed to loan $10 for every dollar they actually possess, which means that 90 per cent of all the money in our bank accounts is not covered by actual coins and notes.2 If all of the account holders at Barclays Bank suddenly demand their money, Barclays will promptly collapse (unless the government steps in to save it). The same is true of Lloyds, Deutsche Bank, Citibank, and all other banks in the world. It sounds like a giant Ponzi scheme, doesn’t it? But if it’s a fraud, then the entire modern economy is a fraud. The fact is, it’s not a deception, but rather a tribute to the amazing abilities of the human imagination. What enables banks – and the entire economy – to survive and flourish is our trust in the future. This trust is the sole backing for most of the money in the world.

Organizations seeking to commercialize open source software realized this, of course, and deliberately incorporated it as part of their market approach. In a 2013 piece on Pando Daily, venture capitalist Danny Rimer quotes then-MySQL CEO Mårten Mickos as saying, “The relational database market is a $9 billion a year market. I want to shrink it to $3 billion and take a third of the market.” While MySQL may not have succeeded in shrinking the market to three billion, it is interesting to note that growing usage of MySQL was concurrent with a declining ability of Oracle to sell new licenses. Which may explain both why Sun valued MySQL at one third of a $3 billion dollar market and why Oracle later acquired Sun and MySQL. The downward price pressure imposed by open source alternatives have become sufficiently visible, in fact, as to begin raising alarm bells among financial analysts. The legacy providers of data management systems have all fallen on hard times over the last year or two, and while many are quick to dismiss legacy vendor revenue shortfalls to macroeconomic issues, we argue that these macroeconomic issues are actually accelerating a technology transition from legacy products to alternative data management systems like Hadoop and NoSQL that typically sell for dimes on the dollar. We believe these macro issues are real, and rather than just causing delays in big deals for the legacy vendors, enterprises are struggling to control costs and are increasingly looking at lower cost solutions as alternatives to traditional products. — Peter Goldmacher Cowen and Company

Also Pharaoh issued a decree that wherever the name of the Queen Ahura was graven in all the land, to it should be added the title "By the will of Amen, Mother of his Morning Star," and that a new hall should be built in the temple of Amen in the Northern Apt, and all about it carved the story of the coming of Prince Abi and of the vision of the Queen. But Ahura never lived to see this glorious place, since from the hour of her daughter's birth she began to sink. On the fourteenth day, the day of purification, she bade the nurse bring the beautiful babe, and gazed at it long and blessed it, and spoke with the Ka or Double of the child, which she said she saw lying on her arm beside it, bidding that Ka protect it well through the dangers of life and death until the hour of resurrection. Then she said that she heard Amen calling to her to pay the price which she had promised for the gift of the divine child, the price of her own life, and smiled upon Pharaoh her husband, and died happily with a radiant face. Now joy was turned to mourning, and during all the days of embalming Egypt

If you are in dire need of funds, you may have to sell the FMP at a discount as the liquidity and price efficiency of the FMP is an issue.

Jet airways and Biocon are market leader in their respective fields, at least when they went public. Their issues were priced highly, it was believed. They made no good for the investor who choose to invest with the company at the time of public issue.

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What do citizens expect of government agencies entrusted with crime control, risk control, or other harm reduction duties? The public does not expect that governments will be able to prevent all crimes or contain all harms. But they do expect government agencies to provide the best protection possible, and at a reasonable price, by being:           Vigilant, so they can spot emerging threats early, pick up on precursors and warning signs, use their imaginations to work out what could happen, use their intelligence systems to discover what others are planning, and do all this before much harm is done.           Nimble, flexible enough to organize themselves quickly and appropriately around each emerging crime pattern rather than being locked into routines and processes designed for traditional issues.           Skillful, masters of the entire intervention tool kit, experienced (as craftsmen) in picking the best tools for each task, and adept at inventing new approaches when existing methods turn out to be irrelevant or insufficient to suppress an emerging threat.8 Real success in crime control—spotting emerging crime problems early and suppressing them before they do much harm—would not produce substantial year-to-year reductions in crime figures, because genuine and substantial reductions are available only when crime problems have first grown out of control. Neither would best practices produce enormous numbers of arrests, coercive interventions, or any other specific activity, because skill demands economy in the use of force and financial resources and rests on artful and well-tailored responses rather than extensive and costly campaigns. Ironically, therefore, the two classes of metrics that still seem to wield the most influence in many departments—crime reduction and enforcement productivity—would utterly fail to reflect the very best performance in crime control. Further, we must take seriously the fact that other important duties of the police will never be captured through crime statistics or in measures of enforcement output. As NYPD Assistant Commissioner Ronald J. Wilhelmy wrote in a November 2013 internal NYPD strategy document:

Under the George W. Bush administration, the Internal Revenue Service launched a publicly revealed investigation into a local church of which one of the candidates for President had been a member for twenty years and also began an investigation of the denomination of that church. That kind of precedent could easily carry over to investigations of churches that may have opposed candidates for President, from the pulpit, or supported or opposed other public issues. Where that could lead should cause concern.

As evil has attempted to take control, political correctness has become a higher value in the USA than righteousness and truth. Right and wrong are consistently being redefined to cater to certain special interest groups. Companies today will pay a huge price if they go against the LGBT (lesbian, gay, bisexual, and transgender) agenda, including possible crippling legal fees if they choose to stand on biblical standards. As I alluded to earlier, disagreeing with the new norms of our society has now been labeled “hate.” No longer are you allowed to debate the leading moral issues of our day without being called a hater (or being ridiculed on social media)—complete with potential lawsuits under hate-crime legislation. Am I out of touch with reality, or have we not entered into the days when men are calling good evil and evil good?

records in any form I request under the Health Insurance Portability and Accountability Act within thirty days and for a reasonable handling and processing fee. If this material is not quickly forthcoming, I will file a complaint with the federal Health and Human Services’ Office for Civil Rights, which prosecutes HIPPA violations. Sincerely, 3. TO CHALLENGE OUTRAGEOUS CHARGES/BILLING ERRORS Dear Sirs or Madam: I’m writing to protest what I regard as excessive charges for my operation/hospitalization/procedure at your medical facility. The operation/hospitalization/procedure was billed to my insurer/me at $__________,__________. This total included several itemized charges that were well above norms for our nation and our region, such as a $__________,__________ charge for __________ and a $__________,__________ charge for __________. The Healthcare Bluebook says a “fair price” is $__________,__________ and $__________,__________. Likewise, my bill includes entries for treatments I simply did not receive, such as $__________ for __________ and $__________ for __________. Before sending in any payment, I’m requesting that your billing and coding department review my chart to revise the charges, or explain to me the size and the nature of such entries. I have been a loyal customer of your hospital for many years and have been happy with my excellent medical care. But if these billing issues are not resolved, I feel compelled to report them to the state attorney general/consumer protection agency, to investigate fraudulent or abusive billing practices. Sincerely,

Provisions that set forth what the contract is about, referred to herein as the "operative provisions." For example, the operative provisions of a contract to sell the assets of a business would include a description of the assets, the calculation and method of payment of the purchase price, and the mechanics of transferring the assets. An asset sale contract containing only these operative provisions would be a very short document, legally enforceable, but not addressing many of the other important issues that buyers and sellers care about. What

A person whom works exclusively for money places a price tag on his or her soul. A person whom labors to attain fame seeks a false form of adulation. The writer ignores the lure of a glamorous life by seeking to penetrate the darkness of their own being and meditate the larger issues that frame existence. A seeker knowingly follows a path that is barren, bleak, desolate, and unproductive in terms of attaining recognition and exulted social and financial status.

If the price is an issue, then realize that there is also a price to be paid for lack of commitment. If you fail to develop proper commitment, what will you forfeit? On the other hand, if you pay the price, what benefit will you gain?

Wise people treat laws as guidelines, issued by the society and they understand that observance of these laws is the price that they are paying to live in a civilized society.

Crucially, most of the existing Harrah’s debt did not have to be refinanced. Because it was not secured by any collateral, suddenly Harrah’s could issue senior debt backed by the company’s assets. It would do so in the LBO deal, pushing $4.5 billion of existing debt to the bottom of the totem pole in a $25 billion debt stack. This was cruel. Those existing unsecured bonds crashed in price as they were last in line to be repaid. But the maneuver allowed Apollo and TPG to issue new debt more cheaply. And it illustrated one of the key legal principles that would echo through this case: Debtholders’ relationship with the company remains strictly contractual. Any rights they have must be bargained for and embedded in documents. The management and board of a company, in contrast, have fiduciary duties which dictate that they maximize shareholder value.

But being short something where your loss is unlimited is quite different than being long something that you’ve already paid for. And it’s tempting. You see way more stocks that are dramatically overvalued in your career than you will see stocks that are dramatically undervalued. I mean there — it’s the nature of securities markets to occasionally promote various things to the sky, so that securities will frequently sell for 5 or 10 times what they’re worth, and they will very, very seldom sell for 20 percent or 10 percent of what they’re worth. So, therefore, you see these much greater discrepancies between price and value on the overvaluation side. So you might think it’s easier to make money on short selling. And all I can say is, it hasn’t been for me. I don’t think it’s been for Charlie. It is a very, very tough business because of the fact that you face unlimited losses, and because of the fact that people that have overvalued stocks — very overvalued stocks — are frequently on some scale between promoter and crook. And that’s why they get there. And once there — And they also know how to use that very valuation to bootstrap value into the business, because if you have a stock that’s selling at 100 that’s worth 10, obviously it’s to your interest to go out and issue a whole lot of shares. And if you do that, when you get all through, the value can be 50. In fact, there’s a lot of chain letter-type stock promotions that are sort of based on the implicit assumption that the management will keep doing that. And if they do it once and build it to 50 by issuing a lot of shares at 100 when it’s worth 10, now the value is 50 and people say, “Well, these guys are so good at that. Let’s pay 200 for it or 300,” and then they could do it again and so on. It’s not usually that — quite that clear in their minds. But that’s the basic principle underlying a lot of stock promotions. And if you get caught up in one of those that is successful, you know, you can run out of money before the promoter runs out of ideas. In the end, they almost always work. I mean, I would say that, of the things that we have felt like shorting over the years, the batting average is very high in terms of eventual — that they would work out very well eventually if you held them through. But it is very painful and it’s — in my experience, it was a whole lot easier to make money on the long side.

Best Budget Travel Destinations Ever Are you looking for a cheap flight this year? Travel + Leisure received a list of the most affordable locations this year from one of the top travel search engines in the world, Kayak. Kayak then considered the top 100 locations with the most affordable average flight prices, excluding outliers due to things like travel restrictions and security issues. To save a lot of money, go against the grain. Mexico Unsurprisingly, Mexico is at the top of the list of the cheapest places to travel in 2022. The United States has long been seen as an accessible and affordable vacation destination; low-cost direct flights are common. San José del Cabo (in Baja California Sur), Puerto Vallarta, and Cancun are the three destinations within Mexico with the least expensive flights, with January being the most economical month to visit each. Fortunately, January is a glorious month in each of these beachside locales, with warm, balmy weather and an abundance of vibrant hues, textures, and flavors to chase away the winter blues. Looking for a city vacation rather than a beach vacation? Mexico City, which boasts a diverse collection of museums and a rich Aztec heritage, is another accessible option in the country. May is the cheapest month to travel there. Chicago, Illinois Who wants to go to Chicago in the winter? Once you learn about all the things to do in this Midwest winter wonderland and the savings you can get in January, you'll be convinced. At Maggie Daley Park, spend the afternoon ice skating before warming up with some deep-dish pizza. Colombia Colombia's fascinating history, vibrant culture, and mouthwatering cuisine make it a popular travel destination. It is also inexpensive compared to what many Americans are used to paying for items like a fresh arepa and a cup of Colombian coffee. The cheapest month of the year to fly to Bogotá, the capital city, is February. The Bogota Botanical Garden, founded in 1955 and home to almost 20,000 plants, is meticulously maintained, and despite the region's chilly climate, strolling through it is not difficult. The entrance fee is just over $1 USD. In January, travel to the port city of Cartagena on the country's Caribbean coast. The majority of visitors discover that exploring the charming streets on foot is sufficient to make their stay enjoyable. Tennessee's Music City There's a reason why bachelorette parties and reunions of all kinds are so popular in Music City: it's easy to have fun without spending a fortune. There is no fee to visit a mural, hot chicken costs only a few dollars, and Honky Tonk Highway is lined with free live music venues. The cheapest month to book is January. New York City, New York Even though New York City isn't known for being a cheap vacation destination, you'll find the best deals if you go in January. Even though the city never sleeps, the cold winter months are the best time for you to visit and take advantage of the lower demand for flights and hotel rooms. In addition, New York City offers a wide variety of free activities. Canada Not only does our neighbor Mexico provide excellent deals, but the majority of Americans can easily fly to Canada for an affordable getaway. In Montréal, Quebec, you must try the steamé, which is the city's interpretation of a hot dog and is served steamed in a side-loading bun (which is also steamed). It's the perfect meal to eat in the middle of February when travel costs are at their lowest. Best of all, hot dogs are inexpensive and delicious as well as filling. The most affordable month to visit Toronto, Ontario is February. Even though the weather may make you wary, the annual Toronto Light Festival, which is completely free, is held in February in the charming and historic Distillery District. Another excellent choice at this time is the $5 Bentway Skate Trail under the Gardiner Expressway overpass.

Salesforce and QuickBooks integration: the wrong audience I built many integrations for Connex, and Salesforce was one of my first. Intuit built one on their app store, but they later discontinued it. Here is why mine failed: Connex syncs ecommerce solutions. Amazon was one of our best sellers. Salesforce.com is a CRM, and this was a bad product fit for us. I had no understanding of the target audience. What features did they require? How much would they pay? Salesforce is geared towards medium and enterprise-level companies. We focused primarily on small businesses. The integration was difficult to build. Salesforce could hold orders, but users often added or removed fields. Our software had no logic to handle dynamically mapping fields. Each user’s Salesforce was different. Almost every user required a great deal of hand-holding. This is bad for a SaaS company. There were many technical issues. Users wanted features that I could not build. I built the integration because Salesforce has a large following, but my audience was just a subset of that group. How big your audience is, is anyone’s guess. We had a listing on Salesforce’s app store, but the listing failed to gather any traffic. I was unsure how many QuickBooks users required a Salesforce integration. There was a limited audience for this tool. The tool became a distraction because other products were selling much better. I had to raise the price of the integration because it took longer to set it up. This idea made my pricing more complicated, while my company is all about simplicity.

People may have more than you. They may have priorities different than yours, but being jealous solves absolutely nothing at all. In fact, the only possible result that you can expect to achieve from jealousy is negativity.

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It is clearly evident that unethical and corrupt practices were the bedrock of Prannoy Roy journalism. After getting the Doordarshan contract through patronage and a quid pro quo, he shrewdly cashed out over Rs.23 crores (to his personal account in 1994-95) in a short span of few years (see Table 1 below) by selling shares at astronomical valuations to a foreign investor. Simply put, through political patronage he built a business and cashed out for personal profit.  Table 1. Source: NDTV public issue prospectus filed with SEBI in 2004. Date of transfer No. of Equity Shares (Face value of Rs.10) Cost per Shares (Rs.) Price (Rs.) Nature of payment No. of Equity Shares (of Face Value of Rs.4) post splitting 21 Oct 1994 48,140 10 675 Cash 120,350 16 May 1995 99,070 10 675 Cash 247,675 Jul 21 1995 121,625 10 675 Cash 304,063 Aug 22 1995 81,481 10 675 Cash 203,702 After inking favorable deals with Doordarshan, many people in Central Government in 1997 helped NDTV to clinch a magical figure deal with Rupert Murdoch’s Star TV[3] during the liberalization period. The Lutyens Delhi’s cozy club arm twisted Murdoch into an agreement with Prannoy Roy’s NDTV to launch the Star News channel.

How to Quantify Achievement Stories When hiring managers, recruiters, and staffing firms see a resume or LinkedIn profile or attend an interview with verbiage but no numbers, they don’t know what those words mean. In fact, they know next to nothing until you add the numbers that explain the impact of your work. Here’s how you can resolve this issue. Work With Finance Sometimes the impact of our work is not always clear. At times like this, reaching out to one of your friends in the Finance Department can be very helpful. Finance has access to numbers that are not always readily available to other departments. If you’re no longer with the company, explain to the Finance associate that the numbers he provides could make the difference in determining whether you land another position. Using a Range Per Lily Zhang of the Muse, one reason job seekers avoid quantifying is not knowing the exact number. Lily suggests using a range. Using my work experience, here’s what that means: Before: Chaired weekly product manager meeting. After: Chaired weekly meeting with 7 to 12 product managers so plans could be discussed and coordinated. Confusion and rework were eliminated. Frequency Lily shared that one of the easiest ways to add numbers is to identify the frequency with which you perform a given task. This can help the hiring manager understand how much you can handle. For example: Before: Responded to pricing requests from the Sales Force. After: Responded to 15 to 20 pricing requests from the Sales Force on a daily basis. Scale Everyone on the hiring side of the business loves when candidates provide numbers, because numbers explain the impact of what you’ve done. The most meaningful numbers are those associated with making money, saving money, and driving productivity. Here are a couple examples from my work experience: Before: Reduced time to perform Operations Manager’s role; after analysis showed tasks could be batched and performed at the end of the month. After: Reduced time to perform Operations Manager role by 66%; after analysis showed tasks could be batched and performed at the end of the month. Asked Director if I could take on the responsibilities of employees who were laid off. Before: Analysis revealed misconfigured offers; worked with other departments to correct errors. Implemented process to prevent future errors. After: Analysis revealed misconfigured offers; worked with other departments to correct errors. Recognized $7.2M. Implemented process to prevent future errors.

Similar to the rebates we discussed earlier, pre-payment creates a strong barrier dissuading a customer from switching to a competitor. I do not think that you will get prepayment 100% of the time, but I think you can successfully obtain this 25–35% of the time if you ask for it all of the time. When you ask, I would encourage you to make it a first concession issue rather than a first offer issue. I will offer a price that I know the other side will react to by saying it is “too high.” In response, I concede to lower my price if they pay me in advance.