Disillusionment can come as fast as a gust, but building faith that the government won't inflate again is like building a new sailboat, a project of years.
Amity ShlaesToday many politicians suggest that where the federal government does not act, there must be anarchy. That view is odd, blinkering out the work of state and towns, which until recently did much of our charitable and cultural work. That view also blinkers out the role of mutual societies and churches.
Amity ShlaesCoolidge's stat was so low; he's ranked in the bottom half of presidents. What I found when I encountered this man was the leader I might like to see today.
Amity ShlaesTo investors, job creation is a second-order effect. Market participants care first about interest rates, exchange rates, bond prices and the one great factor that affects all three: the long-term solvency of a bond company called the U.S. government.
Amity Shlaes