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“The Psblurtex is an 18-inch long anaconda that hides in the gentlemen's outfitting departments of Amazonian stores and is often bought by mistake since its colors are those of the London Reform Club. Once tied around its victim's neck, it strangles him gently and then claims the insurance before running off to Germany where it lives in hiding.”

“Anyone who has actually had to take responsibility for consequences by running any kind of enterprise whether economic or academic, or even just managing a sports team is likely at some point to be chastened by either the setbacks brought on by his own mistakes or by seeing his successes followed by negative consequences that he never anticipated.”

“Its contempt for citizens ... is so routine, and so unlimited, that the agency has become a kind of Frankenstein, running wild and terrorizing Americans at will. The IRS hypocritically requires mistake-free returns when its own books are in shambles. It demands exorbitant sums of money without regard to the accuracy of its claims. It doesn't hesitate to use every possible maneuver to get what it wants, sometimes destroying businesses -- and lives -- in the process.”

“It is a mistake to think of these men as visionary dreamers, playing around at Philadelphia with abstract conceptions of political theory, pulling a whole scheme of government out of the air like a rabbit out of a hat. True, many of them had read and studied enough about the science of politics to put the average statesman of today to shame. But political science was to them an extremely practical topic of discussion, dealing with the extremely practical business of running a government--not, as today, a branch of higher learning reserved for the use of graduate students.”

“There are no checks and balances if the gov is wrong. If a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut; if he bets wrong, he loses; if the gov bets wrong, they just get bigger, they just appropriate more money. It's a bottomless pit, because they either get it from the tax payers or run it off a printing press.”

“When private industry makes a mistake, it gets corrected and goes away. As governments make mistakes, it gets bigger, bigger and bigger and they make more, more and more because as they run out of money, they just ask for more and so they get rewarded for making mistakes. In the meantime that is exactly what we are doing by subsidizing companies which are failing, we have a reverse Darwinism, we've got survival of the unfittest, the companies and people that have made terrible mistakes are being rewarded and other people are being punished and being taxed.”

“The New Finance focused on the market's major systematic mistake. In failing to appreciate the strength of competitive forces in a market economy, it over estimates the length of the short run. In doing so, it overreacts to records of success and failure for individual companies, driving the prices of successful firms too high and their unsuccessful counterparts too low.”