This is Wall Street, and today is important. Because tomorrow, July 4th, I intended to make my first million dollars--an excitingday in a man's life. The enterprise was slightly illegal.
... when the struggle seems to be drifting definitely towards a world social democracy, there may still be very great delays and disappointments before it becomes an efficient and beneficent world system. Countless people ... will hate the New World Order and will die protesting against it. When we attempt to evaluate its promise, we have to bear in mind the distress of a generation or so of malcontents, many of them quite gallant and graceful-looking people.
Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.
What we also have to recognize is that the deficit levels that I'm inheriting, over a trillion dollars, coming out of last year, that that is unsustainable. At a certain point, other countries stop buying our debt, at a certain point, we'd end up having to raise interest rates, and it would end up creating more economic chaos and potentially inflation.
When the man is at home, his standing in society is well known and quietly taken; but when he is abroad, it is problematical, and is dependent on the success of his manners.