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But during recessions firms slow production and liquidate stock, which causes large variations in GDP growth.
As Recode pointed out, the $100 million capital infusion was probably less of a necessary funding event but rather an opportunity for existing investors to liquidate stock ahead of an exit.
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"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate".
"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," he coldly advised.
According to Herbert Hoover, Andrew Mellon, his Treasury secretary, urged him to "Liquidate labor, liquidate stocks, liquidate the farmers..
(Sound familiar?) "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," Andrew Mellon, Herbert Hoover's Treasury Secretary, advised.
This is just a modern version of "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate...
The attitude recalls Herbert Hoover's account of Andrew Mellon's advice on how to deal with the Depression: "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate".
Today's U.S. political system isn't going to follow Andrew Mellon's infamous advice to Herbert Hoover: "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate".
In addition, the Treasury secretary at the time, Andrew W. Mellon, urged President Hoover to "liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate" as a means to "purge the rottenness out of the system".
The pithiest version of that strategy comes from Andrew W. Mellon, the Treasury secretary when the Depression began: "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," Mellon said, according to his boss, President Herbert Hoover.
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CEO of Professional Science Editing for Scientists @ prosciediting.com