American - Businessman | August 22, 1944 -
A great deal of stupidity has chipped away at the massive advantages of Western civilization, which could terminally decline if it remains on the current path. But these problems can be solved - and swiftly - if the right leaders emerge.
Paul Singer
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Capital is kind of a banking concept.
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Margin is a customer concept.
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'What am I missing?' is a much more important question than 'How cool am I?'
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I've never let my guard down by saying, 'I don't need to be hedged.'
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What you have in legacy countries is long-term insolvency.
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'Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider that their own policies, which put the entire burden on central bankers to print money and drive up stock, bond and other asset prices, are actually exacerbating income and wealth disparity.
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In both the U.S. and Europe, the budget and balance sheet numbers do not work. When 'off-balance sheet' promises are taken into account, the U.S. and most countries of the Euro zone are insolvent.
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The world, in terms of choices available to educated, ambitious workers and entrepreneurs, is way bigger than just the United States, Japan and Europe.
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The bottom line is that the euro is a failed experiment.
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Opacity on extreme levels is not addressed anywhere, including Dodd-Frank.
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