"Do you know," Ivan Bunin recalls Anton Chekhov saying to him in 1899, near the end of his too-short life, "for how many years I shall be read? Seven." "Why seven?" Bunin asked. "Well," Chekhov answered, "seven and a half then."
It is beyond a doubt that during the sixteenth century, and the years immediately preceding and following it, poisoning had been brought to a pitch of perfection which remains unknown to modern chemistry, but which is indisputably proved by history. Italy, the cradle of modern science, was at that time, the inventor and mistress of these secrets, many of which are lost.
I was in the gym working on my triceps, and I was thinking, just as I did the 50-pound pulldown, I am going to be in better shape by the end of the year [2016] than I've ever been in my life. I really just smiled at the notion: Wow, what a thing.
Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. It's indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing to think about.
[The U.S. Treasury] can borrow basically unlimited amounts. They can stay there for years and years. These assets will be worth more money over time. So when Merrill Lynch sells a bunch of mortgage-related assets at 22 cents on the dollar like they did a month or so ago, the buyer goes - is going to make money, and he's going to make a lot more money if it happens to be an institution like the U.S. government which has very, very cheap borrowing costs.
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.
The greatest gift that Michelle and I have received over the last eight years has been the honor of serving as your President and First Lady. Together, we fought our way back from the worst recession in 80 years, and got unemployment to a nine-year low.
Long hair minimizes the need for barbers; socks can be done without; one leather jacket solves the coat problem for many years; suspenders are superfluous.
It happens to us once or twice in a lifetime to be drunk with some book which probably has some extraordinary relative power to intoxicate us and none other; and having exhausted that cup of enchantment we go groping in libraries all our years afterwards in the hope of being in Paradise again.
I am inclined to believe that one who is a coward will be born after death as an insect or a worm, that there is no salvation for a coward even after millions of years of penance.