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It's not so unusual to run out of someone else's currency. ”
If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days. ”
In the early 1990s, when a lot of the developing world opened up to international capital flows... they ended up in very good long-term projects, but projects that weren't going to pay off for five or 10 or 20 years. ”
The truth of good economic doctoring is to know the general principles, and to really know the specifics. To understand the context, and also, to understand that an economy may need some tender loving care, not just the so-called hard truths, if it's going to get by. ”
I have learned that nothing is certain except for the need to have strong risk management, a lot of cash, the willingness to invest even when the future is unclear, and great people. ”
Many bought into the idea that America could go from a technology-based, export-oriented powerhouse to a services-led, consumption-based economy - and somehow still expect to prosper. That idea was flat wrong. Our economy tilted instead toward the quicker profits of financial services. ”
In all the time I was with L.T.D., I was never allowed to do an interview by myself. I wasn't even allowed to talk on stage between songs. I couldn't get a publishing agreement or a production deal because everyone had their own little role to play in the group... and the money, well, anything split 10 ways can't be much. ”
Overspending is as certain a part of the holiday season as overeating. But pushing away from both the table and the cash register at least a little bit sooner can make the post-holiday hangover hurt a little bit less. ”
The Pulitzer isn't a physical object. You can't hold it in your hand. You get some money ($7,500 in my day), and you get a little Tiffany's paperweight with your name on it and the image of Joseph Pulitzer suspended in the crystal. When people see my 'Pulitzer' (I keep it in my sock drawer), they are pretty amazed at its meagerness. ”
With the rise of the push for gay rights, it is beyond wanting there to be an appreciation and respect for gay rights. Now a segment of our population is seeking to have that right trump religious freedom. ”