The US has 75 trillions of unpaid for liabilities in a 15 trillion economy. How are we ever going to be pay for it? It's a number that cannot happen. So I don't worry about it. The far more interesting question is: what happens at the moment we realise that we can't pay 75 trillion?
- John Mauldin - Topics: Debt, Default, Government.
One has not only a legal, but a moral responsibility to obey just laws. Conversely, one has a moral responsibility to disobey unjust laws.
- Martin Luther King - Topics: Government.
There are only three ways a smart person can go broke: liquor, ladies and leverage.
- Charlie Munger - Topics: Trader.
Taxation is theft, purely and simply.
- Murray N. Rothbard - Topics: Tax.
Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.
- George Soros - Topics: Investing, Stock Market.
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.
- Jesse Livermore - Topics: Wall Street, Stock Market.
I believe that anyone who is intelligent, conscientious, and willing to put in the necessary time can be successful on Wall Street. As long as they realize the market is a business like any other business, they have a good chance to prosper.
- Jesse Livermore - Topics: Stock Market, Trader.
When confidence goes, the end is very near. It always comes faster than anyone expects and it always seems to be unexpected.
- John Mauldin - Topics: Debt, Default.
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.
This EU is the New Communism. It is Power without Limits.
- Nigel Farage - Topics: Eurocrisis.
There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen. Yet this difference is tremendous; for it almost always happens that when the immediate consequence is favorable, the later consequences are disastrous, and vice versa. Whence it follows that the bad economist pursues a small present good that will be followed by a great evil to come, while the good economist pursues a great good to come, at the risk of a small present evil.
- Frédéric Bastiat - Topics: Economist.
With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.
- Friedrich A. Hayek - Topics: Fiat Currency, Government, Inflation.
