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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.

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Acknowledge Country Inconvenient Large Saddened

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Rules cannot take the place of character.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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There is no evidence that the business cycle has been repealed.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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All taxes are a drag on economic growth. It’s only a question of degree.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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And the percentage changes in wage rates would be the same for all job grades.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Market financed withdrawals of home equity in recent years.
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They seem to sense… that gold and economic freedom are inseparable.
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Productivity is notoriously difficult to predict.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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Consider Distribution Economy Future Likely Outcome Path Possible

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