“In general, corruption tends to exist whenever governments have favors to extend, or something to sell.”

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.

Whatever you tax you get less of.

The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.

These days, even out of office, I still read economic reports.

Now, I only play very occasionally, and in fact, more piano than clarinet or sax.

No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.

Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.

If prices go down, we will have problems – problems in the sense of spillover to other areas.

I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.

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’.

Before I met Ayn Rand, I was a logical positivist, and accordingly,

Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.

And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.

Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.

Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.

I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.

Among a people generally corrupt liberty cannot long exist.

Manners are of more importance than laws. Manners are what vex or soothe, corrupt or purify, exalt or debase, barbarize or refine us, by a constant, steady, uniform, insensible operation, like that of the air we breathe.

However corrupt our hearts, and however wicked our past lives, there is hope for us in the Gospel.

Idolatry is committed, not merely by setting up false gods, but also by setting up false devils; by making men afraid of war or alcohol, or economic law, when they should be afraid of spiritual corruption and cowardice.

Power tends to corrupt. But the power in Washington resides in Congress, if it wants to use it. It can do anything-it can stop the Vietnam War. It can make its will felt, if it can ever get its act together to do anything.

Our body is a vessel of corruption; it is meant for death and for the worms, nothing more! And yet we devote ourselves to satisfying it, rather than to enriching our soul, which is so great that we can conceive nothing greater – no, nothing, nothing!

Do not let your “eye” be drawn by the false “beacon lamps” -of wealth, or position, or fame, or possessions. Be vigilant over your will and desires, for these are the corrupt forces that dwell within, and keep you from living free.

Our worst enemies here are not the ignorant and simple, however cruel; our worst enemies are the intelligent and corrupt.