?The reasonable man adapts himself to the world. The unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man? said George Bernard Shaw, an early 20th century writer and philosopher.
?I view Euro as a doomsday machine,? said a European economics professor.
?Republicans and Democrats won?t engage in any kind of austerity because there is no consequence for the fiscal profligacy they are allowing today. With the Fed taking 60% of the Treasury?s bond issuance they are pulling the policeman off of the freeway so everyone can keep speeding. Until the bond market moves, you are not going to see a change in the current fiscal situation.? said Kyle Bass, founder of hedge fund Hayman Capital Management.
?A rich guy never has to pay for anything?, said Berkshire Hathaway?s Warren Buffett, about his friends? practice of giving him free ties to replace his old, battered ones.
?The policies that we followed since the great crash of 2008 have been pretty darn good. It would be nicer if GDP were galloping at 4% or 5%. But we have had a complete resuscitation of the banking system. We?ve had the economy come back in a very significant way in all cases, except residential construction. Most of our businesses are having record earnings,? said Berkshire Hathaway?s Warren Buffett.
?It?s not the end of the world, but it will be one messy process,? said Oracle of Omaha, Warren Buffett, about the European debt crisis.
?Regulation is complicated and annoying, but it is civilization,? said Yale professor, Robert Shiller.
Bank of America is out of control, yet they?ll never do any time or go out of business, because the government remains creepily committed to their survival, like overindulgent parents who refuse to believe their 40-year-old live at home son could possibly be responsible for those dead hookers in the back yard,? said Matt Taibbi, the muck racking financial journalist for Rolling Stone magazine.
Business people will know better than anyone that the pop in spending won?t last,? said John Taylor, an economics professor at Stanford University.
?Isn?t it funny when you walk into an investment firm, and you see all of the financial advisors watching CNBC? That gives me the same feeling of confidence I would have if I walked into the Mayo Clinic or Sloan Kettering and all of the doctors were watching the TV soap opera General Hospital,? said a bond manager friend.
