Archive for the ‘finance’ Category

Bankers and leaders in the finance industry seem to be very tight lipped about what goes on inside banking. Here’s what politicians, comedians and just a few bank regulators have to say about banks.

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Ta-Nehisi Coates: Pay Reparations

Posted by admin on Friday, February 23, 2024

Meaning of Ta-Nehisi Coates Money Quote: saying Americans mythology the United States was founded on perfect ideals of equality, justice and fairness for all people wasn’t true. Ta-Nehisi Coates said:

 
For Americans, the hardest part of paying reparations would not be the outlay of money. Quote

 

“For Americans, the hardest part of paying reparations would not be the outlay of money. It would be acknowledging that their most cherished myth was not real.” — Ta-Nehisi Coates

 

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This quote by Ta-Nehisi Coates seems to be referring to the debate around paying reparations for slavery and racial injustice in the United States. Some key points:

  • The monetary cost of reparations would not actually be the most difficult part for Americans, according to Coates.
  • Rather, the hardest thing would be acknowledging that the “myth” many Americans hold most dear – perhaps the myth of equality, fairness and justice for all under the law from the country’s founding – was not real or fully true, especially for Black Americans throughout much of U.S. history.
  • Reparations would require facing up to the fact that the nation was not built on perfect ideals of equality and justice for all people, as is often portrayed, but rather was tainted by the evils of racial oppression like slavery that have had lasting impacts.

Overall, the quote suggests that for many Americans, the most challenging aspect of paying reparations would be the psychological and national coming-to-terms with the imperfections and injustices of U.S. history, not the financial costs alone. It would force acknowledging flaws in deeply held beliefs about the country’s self-image and past.

Morgan Housel: Year Lottery Tickets

Posted by admin on Monday, February 19, 2024

Meaning of Morgan Housel Money Quote: saying Low-income families are putting $400 yearly into Lottery tickets instead of saving for emergencies. Morgan Housel said:
 
 
The lowest-income households in the U.S. on average spend $412 a year on lotto tickets, four times the amount of those in the highest income groups Quote
 

The lowest-income households in the U.S. on average spend $412 a year on lotto tickets, four times the amount of those in the highest income groups. Forty percent of Americans cannot come up with $400 in an emergency. Which is to say: Those buying $400 in lottery tickets are by and large the same people who say they couldn’t come up with $400 in an emergency” — Morgan Housel

 

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This quote from Morgan Housel is pointing out an interesting contradiction in spending habits. While the lowest-income households spend much more on lottery tickets compared to higher earners, around 40% of Americans say they do not have $400 available for an emergency.

This suggests that many of the people spending $400 or more per year on lottery tickets are among those who claim they could not come up with $400 if needed. In other words, those with relatively low incomes are devoting a significant amount of money to lottery tickets despite indicating that they have little financial flexibility or emergency savings.

Elie Wiesel: Profit not Truth

Posted by admin on Friday, February 16, 2024

Meaning of Elie Wiesel Money Quote: saying profits are the point and not truth. Elie Wiesel said:
 
 
The point is profit, not truth Quote

 

“The point is profit, not truth” — Elie Wiesel

 

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In this quote, Elie Wiesel seems to be criticizing the prioritization of profit over truth. He may have been commenting on how some individuals or institutions will pursue financial gain or influence even if it requires distorting or ignoring the facts. The “point” or main goal for these actors is making a profit, not seeking or spreading truth.

Overall, Wiesel appears to be warning about the corrupting influence of profit motives when truth is not the top priority. His words suggest we should be wary of situations where profit seems to outweigh truth, as that imbalance could indicate an unwillingness to face uncomfortable facts or serve the greater good when money is at stake.

Peter Thiel: Creative Monopoly

Posted by admin on Tuesday, January 30, 2024

Meaning of Peter Thiel Money Quote: saying money can be made by special creative monopolies but not by those who are required to compete. Peter Thiel said:

 
CREATIVE MONOPOLY means new products that benefit everybody and sustainable profits for the creator. Competition means no profits for anybody, no meaningful differentiation, and a struggle for survival Quote

 

“CREATIVE MONOPOLY means new products that benefit everybody and sustainable profits for the creator. Competition means no profits for anybody, no meaningful differentiation, and a struggle for survival

 

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In this quote, entrepreneur and investor Peter Thiel seems to be contrasting the concepts of “creative monopoly” and competition. He suggests that a creative monopoly, where a company has unique control over a novel product or service it has developed, allows for widespread benefits through the availability of that innovation as well as sustainable profits for its creator.

In contrast, Thiel views competition as leading to a lack of profits for any business as they struggle to differentiate themselves, instead resulting in commodity-like offerings and a fight for survival. The quote advocates for circumstances where companies can gain some protection or advantage from their creative works and inventions, rather than having to constantly fend off copycats.

Overall, Thiel seems to be arguing that monopolies born of genuine innovation can optimize outcomes for both businesses and consumers compared to situations defined purely by competition

Gabor Mate: Exploit For Profit

Posted by admin on Sunday, January 28, 2024

Meaning of Gabor Mate Money Quote: saying unwanted emotions can contribute to making financial profits. Gabor Mate said:

 
If you have fear, prejudice, and ignorance, there will be profit Quote

 

“If you have fear, prejudice, and ignorance, there will be profit” — Gabor Mate

 

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In this quote, Gabor Maté is suggesting that fear, prejudice and ignorance can be exploited for profit. He appears to be saying that when people hold fearful, biased or uninformed views, some may seek to take advantage of this for financial gain.

The quote implies that purveyors of misinformation or manipulation know they can profit from stoking these negative human tendencies in others.

Overall, Gabor Maté seems to be warning that as long as fear, prejudice and ignorance exist in societies, there will unfortunately be those who try to profit from it for their own selfish ends rather than helping to remedy such issues.

Ludwig Mises: Entrepreneur Profits

Posted by admin on Tuesday, January 23, 2024

Meaning of Ludwig von Mises Money Quote: saying being entrepreneurial does not mean you’ll necessarily be making money without making what consumers want most. Ludwig von Mises said:
 
The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely Quote
 

“The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely” — Ludwig von Mises

 

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In this quote, Ludwig von Mises is explaining the role of entrepreneurs in a free market economy. He argues that entrepreneurs do not profit more by selling inferior or unwanted products, but rather by fulfilling consumer demand as effectively as possible.

According to Mises, entrepreneurs earn the highest profits when they are most successful at providing consumers with the goods and services that consumers desire most urgently.

So Mises is suggesting that the profit incentive naturally drives entrepreneurs to meet consumer needs and wants, as the only path to greater profits is satisfying market demand through innovation and efficiency.

The overall interpretation is that Mises viewed the free market as self-correcting, with entrepreneurs rewarded most for delivering what benefits consumers, not what is bad for them.

Ayn Rand: Economic Power

Posted by admin on Friday, January 19, 2024

Meaning of Ayn Rand Money Quote: saying weighing the motives of economics versus Political power. Ayn Rand said:
 
Economic power is exercised by means of a positive, by offering men a reward, an incentive, a payment, a value; political power Quote
 

Economic power is exercised by means of a positive, by offering men a reward, an incentive, a payment, a value; political power is exercised by means of a negative, by the threat of punishment, injury, imprisonment, destruction. The businessman’s tool is values; the bureaucrat’s tool is fear” — Ayn Rand

 

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Ayn Rand is contrasting economic and political power in this quote. She argues that in business or the free market, power is exercised through positive means such as offering value to others in the form of goods, services or rewards that incentivize people.

However, political power operates through negative or coercive means like threats of punishment, harm, or forceful control over people. Her view is that business relies on voluntary exchange of values to benefit all parties, while bureaucracy and government rely on instilling fear of penalties to get people to comply with their rules and demands.

Leroy Hood: Medical Bankruptcies

Posted by admin on Saturday, January 13, 2024

Meaning of Leroy Hood Money Quote: saying the cost of medical treatments contributes to people claiming bankruptcy about two thirds of the time. Leroy Hood said:

 
Medical expenses contribute to two-thirds of all bankruptcies in the United States Quote
 

“Medical expenses contribute to two-thirds of all bankruptcies in the United States” — Leroy Hood

 

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In this quote, scientist Leroy Hood is pointing out that the majority of personal bankruptcies in the United States are caused by high medical costs and expenses. The best interpretation is that Hood is drawing attention to the significant financial burden that medical bills place on many Americans.

His statement suggests that the current healthcare system does not adequately protect people from the risks of steep medical costs leading to bankruptcy. The overall message seems to be that reform is needed to reduce the rate at which medical expenses are undermining individuals’ and families’ financial security in the United States.

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Money Quotes Daily

Money Quotes Daily