In 1933, a supporter told Franklin Delano Roosevelt that if the New Deal succeeded, he would be remembered as the greatest president in history. He replied, ?If I fail, I will be remembered as the last US president.?
?Each politician pursues self-interest while the common cause imperceptibly decays,? lamented the Greek philosopher and historian, Thucydides.
?The one thing that is not safe is the dollar in your pocket. That is certainly going to be worth a lot less over time. The greatest asset to own is your own ability,? said Oracle of Omaha, Warren Buffett, about the European debt crisis.
?For every one book written about deflation there are 25 written about inflation. We are starting to look more like Japan every day,? said Scott Shellady at Bradford Capital Management.
?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.