People seem to think they get richer by selling their houses to each other...so do economists believe they get richer by setting fire to their houses so they can build them back up.
we Americans aren't so stupid. In exchange for our factories, companies, businesses, land, buildings and other productive assets, we will have gotten nifty DVD players...and those thin-screened TVs...and nice automobiles...
What delicious irony...what a marvelous comeuppance...what fitter "reversion" to a mean, mean world?! After buying Manhattan from the savages for trinkets...we now sell it to Asians - and get trinkets in return!
Oh...we feel Nature's dagger deep in our own soft flesh.
What delicious irony...what a marvelous comeuppance...what fitter "reversion" to a mean, mean world?! After buying Manhattan from the savages for trinkets...we now sell it to Asians - and get trinkets in return!
Oh...we feel Nature's dagger deep in our own soft flesh.
"Inflation," James Gray, editor of Contrarian Speculator, reminded us, borrowing a famous quote from a Dutch central banker, "is a little bit like wetting your pants. At first it feels warm and comfortable, but after a short while it becomes cold and regrettable."
when everyone is thinking the same thing, no one is thinking.
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