As Pogo once said, "We have met the enemy and he is us."
The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could... read more
“Democracy destroys itself because it abuses its right to freedom and equality. Because it teaches its citizens to consider audacity as a right, lawlessness as a freedom, abrasive speech as equality, and anarchy as progress.”Isocrates
“Democracy destroys itself because it abuses its right to freedom and equality. Because it teaches its citizens to consider audacity as a right, lawlessness as a freedom, abrasive speech as equality, and anarchy as progress.”Highlighted by 963 Kindle customers
In Greece the banks didn’t sink the country. The country sank the banks.Highlighted by 573 Kindle customers
It’s a problem of people taking what they can, just because they can, without regard to the larger social consequences.Highlighted by 569 Kindle customers
Everywhere you turn you see Americans sacrifice their long-term interests for a short-term reward.Highlighted by 554 Kindle customers
Leverage buys you a glimpse of a prosperity you haven’t really earned.Highlighted by 528 Kindle customers
One of the hidden causes of the current global financial crisis is that the people who saw it coming had more to gain from it by taking short positions than they did by trying to publicize the problem.Highlighted by 490 Kindle customers
“There is an iron law of house prices,” he wrote. “The more house prices rise relative to income and rents, the more they will subsequently fall.”Highlighted by 444 Kindle customers
The average government job pays almost three times the average private-sector job.Highlighted by 393 Kindle customers
Germans longed to be near the shit, but not in it. This, as it turns out, is an excellent description of their role in the current financial crisis.Highlighted by 322 Kindle customers
The smart person accepts. The idiot insists. He got it, he says, on one of his business trips to the Ministry of Tourism. “This is the secret of success for anywhere in the world, not just the monastery,” he says, and then goes on to describe pretty much word for word the first rule of improvisational comedy, or for that matter any successful collaborative enterprise. Take whatever is thrown at you and build upon it. “Yes . . . and” rather than “No . . . but.”Highlighted by 222 Kindle customers
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