Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.

Franklin Delano Roosevelt and J.F Kennedy were Presidents in very different times.

More investment trusts securities were offered in September of 1929 even than in August - the total was above $600 million. However, the nearly simultaneous promotion of Shenandoah and Blue Ridge was to stand as the pinnacle of new era finance. It is difficult not to marvel at the imagination which was implicit in this gargantuan insanity. If there must be madness something may be said for having it on a heroic scale.

Let’s begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes - indeed, deletes - the role of wealth in the economic and social system. And it sheds the adverse connotation going back to Marx. Instead of the owners of capital or their attendants in control, we have the admirably impersonal role of market forces. It would be hard to think of a change in terminology more in the interest of those to whom money accords power. They have now a functional anonymity.

It would be foolish to suggest that government is a good custodian of aesthetic goals. But, there is no alternative to the state.

It is a well known and very important fact that America's founding fathers did not like taxation without representation. It is a lesser known and equally important fact that they did not much like taxation with representation.

Humor is richly rewarding to the person who employs it. It has some value in gaining and holding attention, but it has no persuasive value at all.