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We are born weak, we need strength; helpless, we need aid; foolish, we need reason. All that we lack at birth, all that we need when we come to man's estate, is the gift of education.
In the old days, you would have one lawyer to handle everything: speeding tickets, buying a house, contracts, litigation, real estate, copyrights, leasing, entertainment, intellectual property, forensic accounting, criminal offenses... the list goes on. Now, you have to have a separate lawyer for each one of those categories!
Check out London, Manhattan, Aspen and East Hampton real estate prices, as well as high-end art prices, to see what the leading edge of hyperinflation could look like.
At 25, I made many companies. I was thinking more like a businessman or entrepreneur than a CEO. I created many companies, small companies, medium companies. I tried to be involved in many kinds of activities, in finance, in real estate, in mining.
It's tangible, it's solid, it's beautiful. It's artistic, from my standpoint, and I just love real estate.
If you circle above Central Park at night in a helicopter, you're looking down at the most expensive real estate in the world. It's the American Monopoly board.
To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.
You work with people who are obsessive about shopping, obsessive about owning things and buying things, like this purchase is going to make them happy. And you want to say to them, 'You know, no amount of real estate is gonna fill that void.'
The positive aspect of my negative view is essentially that you shouldn't own cash and government bonds, but you should be in assets like real estate or equities or precious metals or in commodities.
In an approximate way, the logic of commons has been understood for a long time, perhaps since the discovery of agriculture or the invention of private property in real estate.