“The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.”

When money is free, the rational lender will keep on lending until there is no one else to lend to.

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.

In politics, manipulating reality can take presidence over finding reality.

Discount the obvious, bet on the unexpected.

There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.

Once a trend is established it tends to persist and to run it’s full course.

My sense of insecurity keeps me alert, always ready to correct my errors.

Misconceptions play a prominent role in my view of the world.

I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

Studying economics is not a good preparation for dealing with it.

When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.

The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.

To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.

It is credit that matters, not money (in other words, monetarism is a false ideology).

To all those who have suffered as a consequence of our troubled past I extend my sincere thoughts and deep sympathy. With the benefit of historical hindsight we can all see things which we would wish had been done differently or not at all.

Haunted by wrong turns and roads not taken, we pursue images perceived as new but whose providence dates to the dim dramas of childhood, which are themselves but ripples of consequence echoing down the generations.

As a consequence business success is sanctified, and, practically, any methods which achieve it are justified by a larger and larger class.

It’s almost 10 years since the 2008 crisis, but we all still remember the consequences of ignoring threats to the public finances.

The past is never dead. It’s not even past. All of us labor in webs spun long before we were born, webs of heredity and environment, of desire and consequence, of history and eternity.

Is a slow but accelerating impact with consequences that will greatly overshadow all the oil spills put together. The warming trend that is CO2-related will overshadow all the oil spills that have ever occurred put together.

I tend to believe that religious dogma is a consequence of evolution.

We ought to recognize that religious strife is not the consequence of differences among people. It’s about conflicts between creation stories.