You obviously never know when you have a lot of changes to a team, but the new guys have come in here and they look great. They work hard. But the league is so competitive now so it's hard to predict.
What will be interesting to see is whether or not we see from the [Donald Trump] administration initiatives on higher education for this work force, because if those kinds of training opportunities are not provided, then I do think this program begins to look like a defensive holding action, a rear-guard action, buying time for workers who might not otherwise find positions in the 21st century.
There is a principle of human affairs that goes back millennia, which is that you don't look in the mirror. You can trace this principle back to the Bible. The designated intellectuals of that time are called prophets, which is a mistranslation of a Hebrew word, but they were basically intellectuals, giving geopolitical analysis, criticizing the moral practice of leadership, etc. Now, these people were not treated very nicely. There were other intellectuals who were treated nicely, namely those who centuries later came to be called false prophets. These were the flatterers of the court.
The general principle is that the victors don't look at themselves or concede anything. The defeated typically have to, except when it's beneficial to the powerful for them not to.
If you look at say, England and Germany a century ago, which had the most advanced navies then, they were dealing with extremely tricky technological problems. Putting a huge gun on a moving platform and ensuring that it could hit another moving target was one of the hardest technical problems of the early twentieth century.
Don't you guys, like when you're driving at night and you're like, and you can kind of see through the window and you think, oh that looks so cozy in there. I wish I could like get a free pass. Yeah, so that's probably the one I'd pick. I'd be a total creeper but.
That's been lost. It's a huge problem. What you have is you have the major institutions of the world all wanting to deleverage. They want to take down their assets and liabilities. What seemed so easy to borrow against a year ago now looks like rat poison to them. So they're trying to deleverage. There is only one institution in the world that can leverage up in a way that's all a countervailing force to that, and that's the United States Treasury.
We've been in a recession, by any common sense definition, because if you look at the American public, they've got 20 billion - 20 trillion, I should say, worth of residential homes.
I mean you know at midnight everything is going to turn to pumpkins and mice; right? But if the evening goes along, I mean, you know, the guys look better all the time, the music sounds better, it's more and more fun, you think why the hell should I leave at quarter of 12. I'll leave at two minutes to 12. But the trouble is, there are no clocks on the wall. And everybody thinks they're going to leave at two minutes to 12.
I mean, they were getting the mortgage of some guy in Omaha, you know, securitized a couple of times. I mean he had all these - they had all these types from Wall Street, you know, and they had advanced degrees, and they look very alert, and they came with these - they came with these things that said gamma and alpha and sigma and all that. And all I can say is beware of geeks, you know, bearing formulas. They've heard that in Europe.
We look for things I can understand. A lot of businesses I don't understand.
If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever around their office.
Record designers marvel on that stuff. They go back and look at old covers, then make new ones.
Sometimes people look at our covers and say, "That looks just like that other cover." I say, "And?" It reminds them of a cover from way back when. If you know the cover, then pull it out and compare it. I don't care. It's supposed to bring back memories.
The idea that Hispanics or women or any other group of people think alike, vote alike? That's what Democrats want. They want mind-numbed robots who all think alike and who all vote alike. It's easy! You dumb them down, you get rid of critical thinking, and you just have a blob, basically, out there of people that look for the D on the ballot and pull the lever.
I read Nicholas Kristof columns. I think it was in September [2016] had he this piece look who is endorsing [Donald] Trump, who is behind him. It was the North Korean government, it was Islamic terrorists. It's the Klan. It's the American Nazi party. It seems very uncharitable to me. There was no room for people who are decent but economically beleaguered to maybe want to support him.
If you look at my columns I precisely said we have to avoid that. That it's important not to stereotype [Donald] Trump voters.
Look at the potential for America. Look at the direction we've been going. Look at the direction we need to go.
If you look at America now as a giant ship, before we can turn it around and go the other way, we've got to stop. This has been our problem all along. We haven't really advanced anything we believe.
It has now become a status symbol among the rich to say that you got ripped off by Bernie Madoff, because everybody is losing money in the market, everybody is, but it makes you special and unique if you lost money because of Madoff. These people don't think it makes 'em look stupid. It continues to elevate their status, they think.
Let's look at the Trump and Bernie Sanders insurgencies. They were basically insurgencies against the Republican and Democratic Party. Bernie Sanders made no mistake about it. And, of course, Trump didn't either. And they almost won.
President [Barack] Obama did put together a task force on 21st Century Policing, led by Philadelphia police chief Charles Ramsey, to look at some of these issues after Ferguson.
If you look back at past administrations, they`re probably a little bit behind where former President George W. Bush was.
I was told many years ago by my grandmother who raised me: If somebody puts you on a road and you don't feel comfortable on it and you look ahead and you don't like the destination and you look behind and you don't want to return to that place, step off the road.
[Kurt] Vonnegut once said, if you ever want to know who somebody is... Like you look at Richard Nixon, or Adolf Hitler, or Ralph Nader, or anybody who seems like a difficult person to understand, and is therefore not part of the pattern of human behavior. Think about who they were in high school, and they will explain themselves to you. So we got a hold of, like, 50 high-school yearbooks, including my mom's from 1925 or something, and we discovered that they're all the same.
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