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Skill at creating, exploiting, and exiting crucial alliances beats ownership of fixed assets
When I talk about the assets, that was at the beginning of the talks. I was president then. I'm not president now. When I said it, this would be a sign of goodwill to begin the talks.
Heaven is going to be like this life, only better. It will be like this life with all its joys and beauties and pleasures, but without the drawbacks - with all the assets but none of the liabilities.
I've lived through periods of illiquidity before. Asset prices come down. The economy slows or even goes into recession. Then the cycle re-starts. We buy at lower prices with less leverage.
Later the Administration wanted me to actually sell all remaining surplus by running the War Assets Corporation. I said I couldn't do it without some shoe leather.
The U.S. Treasury has got borrowing costs like nobody else has. They can borrow basically unlimited amounts. They can stay there for years and years. These assets will be worth more money over time.
Who owns the assets of our Nation? Increasingly, foreign interests own our assets, and we owe them money. No wonder people think our country is headed in the wrong direction. It is.
The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before.