The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
- Friedrich A. Hayek - Topics: Economist.
There is only one side of the market and it is not the bull side or the bear side, but the right side.
- Jesse Livermore - Topics: Trader, Stock Market.
The hardest thing to judge is what level of risk is safe.
- George Soros - Topics: Money Management.
I believe that anyone who is intelligent, conscientious, and willing to put in the necessary time can be successful on Wall Street. As long as they realize the market is a business like any other business, they have a good chance to prosper.
- Jesse Livermore - Topics: Stock Market, Trader.
There are only three ways a smart person can go broke: liquor, ladies and leverage.
- Charlie Munger - Topics: Trader.
An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole doctrine of interventionism collapses when this fountain is drained off. The Santa Claus principle liquidates itself.
- Ludwig von Mises - Topics: Socialism.
You can't borrow your way out of a debt crisis, whether you are a family or a nation.
- John Mauldin - Topics: Debt.
Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back.
- Sir Josiah Stamp - Topics: Banking System.
How long can a central bank continue an inflation? Probably as long as people are convinced that the government, sooner or later, but certainly not too late, will stop printing money and thereby stop decreasing the value of each unit of money. When people no longer believe this, when they realize that the government will go on and on without any intention of stopping, then they begin to understand that prices tomorrow will be higher than they are today. Then they begin buying at any price, causing prices to go up to such heights that the monetary system breaks down.
- Ludwig von Mises - Topics: Inflation.
Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it.
- Ronald Reagan - Topics: Tax, Government.
In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
- Peter Lynch - Topics: Trader, Stock Market, Investing.
Experience, however, shows that neither a state nor a bank ever have had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.
- David Ricardo - Topics: Fiat Currency, Government.
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