The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Friedrich A. Hayek
- Topics: Economist.
When confidence goes, the end is very near. It always comes faster than anyone expects and it always seems to be unexpected.
- Topics: Debt, Default.
The goal of the good trader, paradoxically, is not to make money. His goal is to trade well.
- Topics: Trader.
There is only one side of the market and it is not the bull side or the bear side, but the right side.
- Topics: Trader, Stock Market.
You can't borrow your way out of a debt crisis, whether you are a family or a nation.
- Topics: Debt.
Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it.
- Topics: Government, Tax.
The pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes.
- Topics: Stock Market, Wall Street.
Economic history is a long record of Government policies that failed because they were designed with a bold disregard for the laws of economics.
Ludwig von Mises
- Topics: Government.
The progress of the enormous debts which at present oppress, and will in the long-run probably ruin, all the great nations of Europe, has been pretty uniform. (written in 1776)
- Topics: Debt, Default, Government.
Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.
- Topics: Investing, Wall Street.
Not to own any gold is to trust central bankers and that you don't want to do in your life.
- Topics: Central Bank, Gold, Monetary Policy.
Another lesson I learned early is that there is nothing new in Wall Street. There can't be because speculation is as old as the hills.
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