Hyperinflation can take virtually your entire life's savings, without the government having to bother raising the official tax rate at all.
Thomas SowellLike so many before him who have ruined countries around the world, Obama has a greatly inflated idea of his own capabilities and the capabilities off what can be accomplished by rhetoric or even by political power.
Thomas SowellNo matter how disastrously some policy has turned out, anyone who criticizes it can expect to hear: 'But what would you replace it with?' When you put out a fire, what do you replace it with?
Thomas SowellWhenever people talk glibly of a need to achieve educational "excellence," I think of what an improvement it would be if our public schools could just achieve mediocrity.
Thomas SowellAt least half of the popular fallacies about economics come from assuming that economic activity is a zero-sum game, in which what is gained by someone is lost by someone else. But transactions would not continue unless both sides gained, whether in international trade, employment, or renting an apartment.
Thomas Sowell