Posts Tagged ‘understand’

“‘Switching teams’ requires two things: 1) admitting you are wrong, and then 2) wholeheartedly embracing the new ‘correct’ thinking…. Switching teams requires a unique combination of humility and (oddly enough) confidence.

So my personal differentiator between ‘smart’ and ‘truly brilliant’ is simple: It’s how quickly you are willing to switch teams when you are proven wrong….

Changing your mind isn’t a loss… In fact, it can make you that much better and more effective at what you do. But it takes both guts and wisdom to understand that.” -Steve Sjuggerud

“If you can’t explain it in simple terms, you don’t understand it.” -Richard Feynman

“And the one thing I’ve come to understand completely is there’s only one thing in your life that matters and that’s the quality of your relationships…. Nobody cares how much money you have when you die.”

-Mike Van Cleave

“Science lets you understand how and why things work. Technology lets you put the theory into practice. And capital gives you the time and material to make use of science and technology.” -Doug Casey

“Americans feel squeezed because the cost of rent, medical insurance, and tuition – as well as other basic living expenses – is rising much faster than their wages. This creates very real problems for ordinary people.

By every measure – including stagnating wages and rising costs – things have been going downhill for the American middle class since the early 1970s. August 15, 1971, to be exact. This is the date President Nixon killed the last remnants of the gold standard. Since then, the dollar has been a pure fiat currency.

The rejection of sound money is the primary reason why inflation has eaten up wage growth since the early 1970s – and the primary reason why the cost of living has exploded.

Measured in gold, wages in the U.S. have fallen over 84% since 1971…. Priced in gold, the minimum wage has fallen 87% since 1968. Note that the federal minimum hourly wage was $1.60 in 1968. It’s $7.25 today, or 353% higher in dollar terms. But that $7.25 buys 87% less than $1.60 did back in 1968. That’s the story you won’t hear from the mainstream press.

Inflation follows a clear a pattern of corruption:  In a fiat currency system, the government will invariably print an ever-increasing amount of currency. This makes prices and the cost of living rise faster than wages. The average person feels the pain, but doesn’t understand what’s happening. More people support politicians who promise freebies. In order to pay for the ‘freebies,’ the government prints more money. This creates even more inflation, and the cycle repeats.”

-Nick Giambruno

“You’re never going to master something unless you understand this… the brain learns much better when we’re emotionally engaged, when we want to learn, when we’re motivated.” -Robert Greene

“I understand that it’s human nature to worry, but you’ll never be happy if you can’t figure out what you want.” -David Eifrig