If you put a ten dollar bill under the rug instead of spending it, that is capital formation. It represents ten dollars' worth of something that might have been immediately consumed, but wasn't.
Garet GarrettWith no notice to the American people...this country entered the war...Stranger than the fact was the passive acceptance of it.
Garet GarrettWe have crossed the boundary that lies between Republic and Empire. If you ask when, the answer is that you cannot make a single stroke between day and night: the precise moment does not matter. There was no painted sign to say: 'You are now entering Imperium.' Yet it was a very old road and the voice of history was saying: 'Whether you know it or not, the act of crossing may be irreversible.' And now, not far ahead, is a sign that reads: 'No U-turns.'
Garet Garrett