Private Hudson Quotes

A false alarm is sounded that government budget deficits will increase consumer prices — with no discussion of how private-sector credit deflates economies. The problem is that credit is debt — and paying debt service to bankers and bondholders (and various grades of loan sharks) leaves less income available to spend on goods and services. So debt deflation is today’s major problem, not inflation.

You're right. We do need to talk. In Private." Hudson's jaw ticked. It was hot, like a super-spicy dried meat stick from the 7-Eleven.

The aim of predatory lending in much of the world is to obtain labor to work off debts (debt peonage), to foreclose on the land of debtors, and in modern times to force debt-strapped governments to privatize natural resources and public infrastructure.

Ideally, a fair and equitable society would regulate debt in line with the ability to be paid without pushing economies into depression. But when shrinking markets deepen fiscal deficits, creditors demand that governments balance their budgets by selling public monopolies. Once the land, water and mineral rights are privatized, along with transportation, communications, lotteries and other monopolies, the next aim is to block governments from regulating their prices or taxing financial and rentier wealth. The neo-rentier objective is threefold: to reduce economies to debt dependency, to transfer public utilities into creditor hands, and then to create a rent-extracting tollbooth economy. The financial objective is to block governments from writing down debts when bankers and bondholders over-lend. Taken together, these policies create a one-sided freedom for rentiers to create a travesty of the classical “Adam Smith” view of free markets. It is a freedom to reduce the indebted majority to a state of deepening dependency, and to gain wealth by stripping public assets built up over the centuries.

Neofeudalism: Much as warlords seized land in the Norman Conquest and levied rent on subject populations (starting with the Domesday Book, the great land census of England and Wales ordered by William the Conqueror), so today’s financialized mode of warfare uses debt leverage and foreclosure to pry away land, natural resources and economic infrastructure. The commons are privatized by bondholders and bankers, gaining control of government and shifting taxes onto labor and small-scale industry. Household accounts, corporate balance sheets and public budgets are earmarked increasingly to pay real estate rent, monopoly rent, interest and financial fees, and to bear the taxes shifted off rentier wealth. The rentier oligarchy makes itself into a hereditary aristocracy lording it over the population at large from gated communities that are the modern counterpart to medieval castles with their moats and parapets.

for Extraverts, the inner world consists of private reactions to collective assumptions, along with mental and emotional content that can’t be accommodated to their outward situation. Their self-image, therefore, may be somewhat negative, because they associate their inner life with experiences of inadequacy or difference from others. In fact, Extraverts have a hard time conceptualizing a self-experience that is not related to external options or to others’ judgments. If self-reflection seems warranted, they do it by talking to people about their private inner life: sharing their feelings of inadequacy or exclusion, their shameful wishes and behaviors, their difficulties with jobs or relationships. Such things are, of course, part of an Introvert’s inner life as well. But Introverts don’t construct their inner life strictly in terms of their outward conditions. So their understanding of self-reflection is different from an Extravert’s.

In the February 9, 1935, issue of the Saturday Evening Post, an article appeared written by Frank Vanderlip. In it he said: Despite my views about the value to society of greater publicity for the affairs of corporations, there was an occasion, near the close of 1910, when I was as secretive—indeed, as furtive—as any conspirator.... I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System.... We were told to leave our last names behind us. We were told, further, that we should avoid dining together on the night of our departure. We were instructed to come one at a time and as unobtrusively as possible to the railroad terminal on the New Jersey littoral of the Hudson, where Senator Aldrich's private car would be in readiness, attached to the rear end of a train for the South.... Once aboard the private car we began to observe the taboo that had been fixed on last names. We addressed one another as "Ben," "Paul," "Nelson," "Abe"—it is Abraham Piatt Andrew. Davison and I adopted even deeper disguises, abandoning our first names. On the theory that we were always right, he became Wilbur and I became Orville, after those two aviation pioneers, the Wright brothers.... The servants and train crew may have known the identities of one or two of us, but they did not know all, and it was the names of all printed together that would have made our mysterious journey significant in Washington, in Wall Street, even in London. Discovery, we knew, simply must not happen, or else all our time and effort would be wasted. If it were to be exposed publicly that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by Congress.

There’s a tap on my shoulder. I turn around and get lost in a sea of blue. A Jersey-accented voice says, “It’s about time, kid,” and Frank Sinatra rattles the ice in his glass of Jack Daniel’s. Looking at the swirling deep-brown liquid, he whispers, “Ain’t it beautiful?” This is my introduction to the Chairman of the Board. We spend the next half hour talking Jersey, Hoboken, swimming in the Hudson River and the Shore. We then sit down for dinner at a table with Robert De Niro, Angie Dickinson and Frank and his wife, Barbara. This is all occurring at the Hollywood “Guinea Party” Patti and I have been invited to, courtesy of Tita Cahn. Patti had met Tita a few weeks previous at the nail parlor. She’s the wife of Sammy Cahn, famous for such songs as “All The Way,” “Teach Me Tonight” and “Only the Lonely.” She called one afternoon and told us she was hosting a private event. She said it would be very quiet and couldn’t tell us who would be there, but assured us we’d be very comfortable. So off into the LA night we went. During the evening, we befriend the Sinatras and are quietly invited into the circle of the last of the old Hollywood stars. Over the next several years we attend a few very private events where Frank and the remaining clan hold forth. The only other musician in the room is often Quincy Jones, and besides Patti and I there is rarely a rocker in sight. The Sinatras are gracious hosts and our acquaintance culminates in our being invited to Frank’s eightieth birthday party dinner. It’s a sedate event at the Sinatras’ Los Angeles home. Sometime after dinner, we find ourselves around the living room piano with Steve and Eydie Gorme and Bob Dylan. Steve is playing the piano and up close he and Eydie can really sing the great standards. Patti has been thoroughly schooled in jazz by Jerry Coker, one of the great jazz educators at the Frost School of Music at the University of Miami. She was there at the same time as Bruce Hornsby, Jaco Pastorius and Pat Metheny, and she learned her stuff. At Frank’s, as the music drifts on, she slips gently in on “My One and Only Love.” Patti is a secret weapon. She can sing torch like a cross between Peggy Lee and Julie London (I’m not kidding). Eydie Gorme hears Patti, stops the music and says, “Frank, come over here. We’ve got a singer!” Frank moves to the piano and I then get to watch my wife beautifully serenade Frank Sinatra and Bob Dylan, to be met by a torrent of applause when she’s finished. The next day we play Frank’s eightieth birthday celebration for ABC TV and I get to escort him to the stage along with Tony Bennett. It’s a beautiful evening and a fitting celebration for the greatest pop singer of all time. Two years later Frank passed away and we were generously invited to his funeral. A

I was a private investigator, digging my way through my own deeply buried secrets, both desperate for answers and fighting to keep them hidden.

Strange as it may seem — and irrational as it would be in a more logical system of world diplomacy — the dollar glut is what finances America’s global military build-up. It forces foreign central banks to bear the costs of America’s expanding military empire. The result is a new form of taxation without representation. Keeping international reserves in dollars means recycling dollar inflows to buy U.S. Treasury bills — U.S. government debt issued largely to finance the military spending that has been a driving force in the U.S. balance-of-payments deficit since the Korean War broke out in 1950. [...] “China National Offshore Oil Corporation go home” is the motto when foreign governments try to use their sovereign wealth funds (central bank departments trying to figure out what to do with their dollar glut) to make direct investments in American industry, as happened when China’s national oil company sought to buy Unocal in 2005.[...] So Europeans and Asians see U.S. companies pumping more dollars into their economies not only to buy their exports (in excess of providing them with goods and services in return), not only to buy their companies and commanding heights of privatized public enterprises (without giving them reciprocal rights to buy important U.S. companies), and not only to buy foreign stocks, bonds and real estate. The U.S. media neglect to mention that the U.S. Government spends hundreds of billions of dollars abroad — not only in the Near East for direct combat, but to build military bases to encircle the rest of the world, and to install radar systems, guided missile systems and other forms of military coercion, including the “color revolutions” that have been funded all around the former Soviet Union.

If God has called you to be really like Jesus in your spirit, He will draw you into a life of crucifixion and humility, and put on you such demands of obedience that He will not allow you to follow other Christians; and in many ways He will seem to let other good people do things that He will not let you do. Other Christians and ministers who seem very religious and useful may push themselves, pull wires and work schemes to carry out their schemes, but you cannot do it; and if you attempt it, you will meet with such failure and rebuke from the Lord as to make you sorely penitent. Others may brag on themselves, on their work, on their success, on their writings, but the Holy Spirit will not allow you to do any such thing; and if you begin it, He will lead you into some deep mortification that will make you despise yourself and all your good works. Others may be allowed to succeed in making money, but it is likely that God will keep you poor, because He wants you to have something far better than gold, and that is a helpless dependence upon Him, that He may have the privilege (the right) of supplying your needs day by day out of an unseen treasury. The Lord will let others be honoured and put forward, and keep you hidden away in obscurity, because He wants some choice fragrant fruit for His coming glory which can only be produced in the shade. He will let others do a work for Him and get the credit for it, but He will let you work and toil on without knowing how much you are doing; and then to make your work still more precious, He will let others get the credit for the work you have done, and this will make your reward ten times greater when Jesus comes. The Holy Spirit will put a watch over you, with a jealous love, and will rebuke you for little words and feelings or for wasting your time, over which other Christians never seem distressed. So make up your mind that God is an infinite Sovereign, and has the right to do as He pleases with His own, and He may not explain to you a thousand things which may puzzle your reason in His dealings with you. He will take you at your word and if you absolutely sell yourself to be His slave, He will wrap you up in a jealous love and let other people say and do many things which He will not let you say or do. Settle it for ever that you are to deal directly with the Holy Spirit, and that He is to have the privilege of tying your tongue, or chaining your hand, or closing your eyes, in ways that He does not deal with others. Now when you are so possessed with the Living God, that you are in your secret heart pleased and delighted over the peculiar, personal, private, jealous guardianship of the Holy Spirit over your life, you will have found the vestibule of heaven. These

One extraordinary feature of the private quintas or orchards and plantations in the vicinity of the Saladeros was the walls or hedges. These were built entirely of cows' skulls, seven, eight, or nine deep, placed evenly like stones, the horns projecting. Hundreds of thousands of skulls had been thus used, and some of the old, very long walls, crowned with green grass and with creepers and wild flowers growing from the cavities in the bones, had a strangely picturesque but somewhat uncanny appearance.

The arresting agents work for TIN, and douchebag Trent is being privately escorted back to Philly, where he’ll face charges for three counts of assault and battery and six counts of sexual assault on marked Therians. Seems his victims suddenly feel safe enough to talk. Trent is going away for a very long time.” Hudson

Net wages: “It’s not what you make, but what you net” after paying the FIRE sector, basic utilities and taxes. The usual measure of disposable personal income (DPI) refers to how much employees take home after income-tax withholding (designed in part by Milton Friedman during World War II) and over 15% for FICA (Federal Insurance Contributions Act) to produce a budget surplus for Social Security and health care (half of which are paid by the employer). This forced saving is lent to the U.S. Treasury, enabling it to cut taxes on the higher income brackets. Also deducted from paychecks may be employee withholding for private health insurance and pensions. What is left is by no means freely available for discretionary spending. Wage earners have to pay a monthly financial and real estate “nut” off the top, headed by mortgage debt or rent to the landlord, plus credit card debt, student loans and other bank loans. Electricity, gas and phone bills must be paid, often by automatic bank transfer – and usually cable TV and Internet service as well. If these utility bills are not paid, banks increase the interest rate owed on credit card debt (typically to 29%). Not much is left to spend on goods and services after paying the FIRE sector and basic monopolies, so it is no wonder that markets are shrinking. (See Hudson Bubble Model later in this book.) A similar set of subtrahends occurs with net corporate cash flow (see ebitda). After paying interest and dividends – and using about half their revenue for stock buybacks – not much is left for capital investment in new plant and equipment, research or development to expand production.

From kindergarten through senior year of high school, Evan attended Crossroads, an elite, coed private school in Santa Monica known for its progressive attitudes. Tuition at Crossroads runs north of $ 22,000 a year, and seemingly rises annually. Students address teachers by their first names, and classrooms are named after important historical figures, like Albert Einstein and George Mead, rather than numbered. The school devotes as significant a chunk of time to math and history as to Human Development, a curriculum meant to teach students maturity, tolerance, and confidence. Crossroads emphasizes creativity, personal communication, well-being, mental health, and the liberal arts. The school focuses on the arts much more than athletics; some of the school’s varsity games have fewer than a dozen spectators. 2 In 2005, when Evan was a high school freshman, Vanity Fair ran an exhaustive feature about the school titled “School for Cool.” 3 The school, named for Robert Frost’s poem “The Road Not Taken,” unsurprisingly attracts a large contingent of Hollywood types, counting among its alumni Emily and Zooey Deschanel, Gwyneth Paltrow, Jack Black, Kate Hudson, Jonah Hill, Michael Bay, Maya Rudolph, and Spencer Pratt. And that’s just the alumni—the parents of students fill out another page or two of who’s who A-listers. Actor Denzel Washington once served as the assistant eighth grade basketball coach, screenwriter Robert Towne spoke in a film class, and cellist Yo-Yo Ma talked shop with the school’s chamber orchestra.

Private investors traditionally had been obliged to take losses when debtors defaulted, but it became apparent that the U.S. Government was not about to relinquish its creditor hold on the Allies. This intransigence obliged them to keep tightening the screws on Germany.

well I was here trying to steal a TV off the wall, dressed like a yoga instructor, when in reality, I had tried it once and after farting in front of the whole class decided I was safer at home. You know, so I could break wind in private and giggle about it like a five-year-old, would.

Everyone in town seemed to take turns with one another, as if stranded on a private fuck island … Old with young, rich with poor, drunk with sober, beautiful with grotesque. She'd heard Hudson described as a college town without a college, or summer camp for adults, but it seemed more like a small community of expats.

She let him into the house secretly, saw him privately, and kept him out of his father’s sight.53 And yet, even Corneil, this creature of deceit, could not deny the truth about himself. He alternated his bombast with references to “my shame & mortification & sorrow.” He was literally fatalistic about his hope of reform. He wrote to Greeley of his “determination to humbly forfeit my life as the penalty of further vice.” It was the one prediction about himself that would come true.54 ON FEBRUARY 15, 1866, the locomotive Augustus Schell chuffed onto the Albany bridge and rolled westward along its 2,020-foot span, over a total of nineteen piers, across an iron turntable above the center of the river below, and rattled down into Albany itself. Following this symbolic inauguration, the first passenger train crossed one week later. After four years of construction (and many more of litigation), the bridge gave the New York Central a continuous, direct connection to the Hudson River Railroad, and thus to Manhattan. But its completed track became a lighted fuse.55 The Commodore’s cold response to Corneil’s backsliding revealed the icy judge who had always lurked behind the encouraging father. So, too, did the implacable warrior remain within the diplomat who had negotiated with Corning and Richmond. In December 1865, for example, the New York Court of Appeals handed down final judgment in the long-running court battle between Vanderbilt and the New York & New Haven Railroad over the shares that Schuyler had fraudulently issued in 1854. Over the years, weary shareholders had settled with the company—but the Commodore refused. He had waged his battle until the court ruled that the company owed $900,000 to Schuyler’s victims. “The great principle is now settled by the highest court in this State,” wrote the Commercial and Financial Chronicle, “that railroad and other corporations are bound by the fraudulent acts of their own agents.”56 It was, indeed, a great principle—but businessmen also saw a more personal lesson in the Schuyler fraud case. “The Commodore’s word is as good as his bond when it is fairly

Rock may have had this association in mind when Jimmy turned up on the set of Has Anybody Seen My Gal. Dean’s friend, William Bast, remembered, “It was after his first day of shooting on that picture that Jimmy confided in me his contempt for Mr. Hudson, based on nothing more than Hudson’s hypocritical pose as straight on the set while privately trying to hit on him.

Eurozone financial institutions have sought to impose Latvia’s “model” austerity on Ireland, Spain and Portugal – and most of all, on Greece, which is being made an object lesson of how creditor powers will treat countries that try to extricate themselves from debt, unemployment, privatization, emigration and demographic collapse.

Instead of restructuring economies with a clean slate to resume progress, the financial class is using today’s debt crisis to vest itself as the new elite to rule the remainder of the 21st century. To consolidate their position, financiers are sponsoring a property grab – privatization

Herman Melville, by then well into his seventies, often walked with his little granddaughter in Central Park. He had been living quietly in New York for years, convinced that his literary career was over, working as a customs inspector on the Hudson River piers. The Schirmers “discovered” the almost-forgotten author of Moby Dick, and gave a dinner for Melville and his wife. The Schirmers apparently found Melville charming but a little sad. He was working again on a final novel, to be called Billy Budd. But, he said, he was sure his book would never be published unless he had it privately printed, because his popularity of more than thirty years earlier had all but vanished.

The financial alternative to classical economics calls itself “neoliberalism,” but it is the opposite of what the Enlightenment’s original liberal reformers called themselves. Land rent has not ended up in government hands, and more and more public services have been privatized to squeeze out monopoly rent. Banks have gained control of government and their central banks to create money only to bail out creditor losses, not to finance public spending.

Prebisch, founding Secretary General (1964-69) of the United Nations Conference on Trade and Development (UNCTAD), described how creditors demanded that Latin America run its economies on behalf of foreign bondholders: “in the name of economic freedom they would justify sacrificing political freedom,” imposing privatization and distorting Latin American political as well as economic development to support client oligarchies. “You praise political freedom and individual rights. But don’t you realize that in these lands of the periphery, your preaching can only bear fruit through the suppression of freedom and the violation of those rights?

The main substantive achievement of neoliberalization … has been to redistribute, rather than to generate, wealth and income. [By] ‘accumulation by dispossession’ I mean … the commodification and privatization of land and the forceful expulsion of peasant populations; conversion of various forms of property rights (common, collective, state, etc.) into exclusive private property rights; suppression of rights to the commons; … colonial, neocolonial, and imperial processes of appropriation of assets (including natural resources); …and usury, the national debt and, most devastating of all, the use of the credit system as a radical means of accumulation by dispossession. … To this list of mechanisms we may now add a raft of techniques such as the extraction of rents from patents and intellectual property rights and the diminution or erasure of various forms of common property rights (such as state pensions, paid vacations, and access to education and health care) won through a generation or more of class struggle. The proposal to privatize all state pension rights (pioneered in Chile under the dictatorship) is, for example, one of the cherished objectives of the Republicans in the US.