Wise Quotes of the Day
Japanic.
DealBreaker, analogizing the Fed's interest rate policy of 0%.
[W]e do know something - at least abstractly - about the future. We know that other great crises will come. Whether they will be occasioned by foreign wars, economic collapse, or rampant terrorism, no one can predict with assurances. Yet in one form of another, great crises will surely come again… When they do, governments almost certainly will gain new powers over economic and social affairs… For those who cherish individual liberty and a free society, the prospect is deeply disheartening.
Robert Higgs, Crisis and Leviathan, via Long or Short Capital
What is outrageous economically and is outrageous morally is that normally in times like this, people who are competent and who saw it coming and who kept their powder dry go and take over the assets from the incompetent. What's happening this time is that the government is taking the assets from the competent people and giving them to the incompetent people and saying, now you can compete with the competent people. It is horrible economics.
Jim Rogers, via Financial Ninja
My father always used to say, “Recessions are like big garage sales for the rich.”
Colin Cowherd, last Wednesday on his ESPN radio show, The Herd.
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