2011 Budget Spending Cuts | The Future Tense

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Tuesday, February 15, 2011

2011 Budget Spending Cuts

Fantastic visual aid to help show the "Draconian" cuts Obama is proposing for this year's budget. His courage is truly remarkable.

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- Jesse Livermore

"Most investors think quality, as opposed to price, is the determinant of whether something's risky. But high quality assets can be risky, and low quality assets can be safe. It's just a matter of the price paid for them."

- Howard Marks

"None are more hopelessly enslaved than those that falsely believe they are free."

-Goethe

Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.

-Sir John Templeton

"People only accept change in necessity and see necessity only in crisis."

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The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.

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Illusions commend themselves to us because they save us pain and allow us to enjoy pleasure instead. We must therefore accept it without complaint when they sometimes collide with a bit of reality against which they are dashed to pieces.

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If you think you can or think you cannot, you are correct.

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If something cannot go on forever, it will stop.

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Many of life's failures are people who did not realize how close they were to success when they gave up.

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- Jeff Frank

"Government bonds once offered risk-free return. They now offer return-free risk."

- Jim Grant

"Live as if you were to die tomorrow. Learn as if you were to live forever."

- Gandhi

"At this juncture, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained."

- Ben Bernanke, March 2007

"In economics things take longer to happen than you think they will, and then they happen faster than you thought they could."

- Rudiger Dornbusch

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"You can have comfort, or you can have value. You cannot have both."

- Jim Grant

"No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future."

- Ludwig von Mises

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

-Ludwig von Mises

"Whenever you find yourself on the side of the majority, it is time to pause and reflect."

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"No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future."

- Ludwig von Mises

Requiring a central bank to print money to increase government's purchasing power invariably ignites a hyperinflationary firestorm. The result through history has been toppled governments and severe threats to societal stability.

- Alan Greenspan

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

- Henry Ford

"I'd be a bum on the street with a tin cup if the markets were always efficient."

-Warren Buffett

"While the government struggles to save one crumbling enterprise at the expense of the crumbling of another, it accelerates the process of juggling debts, switching losses, piling loans on loans, mortgaging the future and the future's future. As things grow worse, the government protects itself not by contracting this process, but by expanding it."

-Ayn Rand, 1974

"Men it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."

-Charles Mackay

"Give me control of a nations money supply, and I care not who makes it's laws."

- Amschel Rothchild

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