“The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize each other or have the economy lurching in all directions. This is not a rational system for setting economic policy. It has given us trouble in the past, as the text will establish, and will inevitably in the future.” IfsTwoPastPoliticsGivenEconomyTroubleEconomicPolicySettingRationalSettingsLiberalismReservesFederal ReserveEconomic PolicySteering Author:Wright Patman
“The stock market is but a mirror which provides an image of the underlying or fundamental economic situation. Cause and effect run from the economy to the stock market, never the reverse. In 1929 the economy was headed for trouble. Eventually that trouble was violently reflected in Wall Street.” RunningCausesSituationEconomyTroubleEconomicStreetsEffectsWallMirrorsFundamentalsReverseCause And Effect Book:THE GREAT CRASH 1929 Source: THE GREAT CRASH 1929
“Humans have trouble with economics, as you may have noticed, and not just because economic circumstances sometimes cause them to starve. Humans seem to have an innate inability to pay attention to economic principles.” HumansMaySometimesSeemsCausesPayAttentionPrinciplesTroubleEconomicCircumstancesEconomicsPay AttentionInabilityInnate Book:Eat the Rich: A Treatise on Economics Source: Eat the Rich: A Treatise on Economics
“The Trouble with liberals is twofold: They have a horrible blind spot with respect to moral principles and they have an abysmal understanding of economic principles.” UnderstandingMoralPrinciplesTroubleEconomicBlindHorribleSpotsMoral PrinciplesBlind Spots Author:Jacob G. Hornberger
“If you wish to prosper, let your customer prosper. When people have learned this lesson, everyone will seek his individual welfare in the general welfare. Then jealousies between man and man, city and city, province and province, nation and nation, will no longer trouble the world.” PeopleIfsMenWorldIndividualNationsWishCitiesLibertyTroubleEconomicLessonsEconomicsCustomersWelfareProvincesGeneral Welfare Author:Frederic Bastiat