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"To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public. Nothing but the truth should be spoken about him or any one else."
"You can fool all of the people some of the time, and some of the people all of the time, but you can not fool all of the people all of the time"
"The only thing we have to fear is fear itself - nameless, unreasoning, unjustified terror."
"Every gun that is made, every warship launched, every rocket fired, in a final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed."
"[T]he illiteracy level of our children are appalling."
"A well regulated militia, composed of the body of the people, trained in arms, is the best most natural defense of a free country."
“A government big enough to give you everything you want is a government big enough to take from you everything you have.”

Markets

Obama is a funny sort of socialist

The top 1 per cent got 45 per cent of Clinton-era economic growth and 65 per cent of the economic growth during the Bush era. So far in the Obama recovery, the top 1 per cent has pocketed 93 per cent of the gains. FT

April 02, 2012 in Economics, Markets, Politics | Permalink | Comments (0)

The Muppet Manifesto

As horrifying as it is to find myself defending Goldman, the whole thing is a little overblown - people use rough language about clients in all sorts of industries and the trading business is by nature adversarial (if you buy something, someone else sells it to you. After they do, they want whatever it is to go down!)
The real scandal with Goldman is the enormous public subsidies that they live on and the private profits they reap from that aid while spouting laissez faire nonsense; something they're less guilty of than most banks.
That said, it was a brave thing to write.

Off for 2 weeks. Be safe...

March 15, 2012 in Economics, Markets | Permalink | Comments (0)