A Quote by Nick Harkaway
The market, as we're all painfully aware in the aftermath of the banking crisis, can be an idiot. It has no perception of right or wrong, or even sensible or insane. It sees profit.
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Even if you tell yourself "Today I'm going to drink coffee the wrong way ... from a dirty boot." Even that would be right, because you chose to drink coffee from that boot. Because you can do nothing wrong. You are always right. Even when you say, "I'm such an idiot, I'm so wrong..." you're right. You're right about being wrong. You're right even when you're an idiot. No matter how stupid your idea, you're doomed to be right because it's yours.
Nature is very cruel. It is much riskier to love any living being than not. I'm painfully aware that even my little dog is a walking bundle of mortality. I'm painfully aware he's going to pass.
There's no question the crisis demonstrated that the bank system didn't work. And when you looked at the aftermath of the crisis, what needed to be done. You had to make sure banks got back to the basics of banking, and that they had to address the trust issue.
There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.
So perhaps the most worrying single remark made by a responsible banking official during the current crisis came from Jochen Sanio, the head of Germany's banking regulator BaFin. He warned on Aug. 1 that his country could be facing the worst banking crisis since 1931 - a reference to the collapse of Austria's Kredit Anstalt, which provoked a wave of bank failures across Europe.
The phrase 'perception is reality' is overused generally. But perception can be reality in monetary policy. The bond market doesn't act merely on what it sees. It acts on what it expects of the Fed or the government.
The investor is neither smart not richer when he buys in an advancing market and the market continues to rise. That is true even when he cashes in a goodly profit, unless either (a) he is definitely through with buying stocks an unlikely story or (b) he is determined to reinvest only at considerably lower levels. In a continuous program no market profit is fully realized until the later reinvestment has actually taken place, and the true measure of the trading profit is the difference between the previous selling level and the new buying level.
If there's been a crisis in a market, you don't tend to have a new crisis in that market until the people who went through the last crisis aren't in the system anymore.
If someone is getting every decision wrong, that's when you need to act, and at that point it'll be painfully aware to everyone.
In the U.S. more than any other place, the banking system is insane. Millions of Americans lost their houses. Because of what? Because of the banking system. This American banking system is also coming to Europe. We can say today that the banks and high financiers run the world.
Barack Obama is telling the banking industry what it can and can't charge and what profit he will accept and what level of profit he won't accept. Bill Clinton and Jimmy Carter came up with this scheme that resulted in the subprime mortgage crisis. They said it was unfair that poor and minority people didn't have houses, so we're basically gonna give 'em houses. How are we gonna do that? We're going to make the banks loan them money, knowing full well they can't pay it back.
The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression.
Moral principles do not depend on a majority vote. Wrong is wrong, even if everybody is wrong. Right is right, even if nobody is right.
The UN is but a long-range, international banking apparatus clearly set up for financial and economic profit by a small group of powerful One-World revolutionaries, hungry for profit and power.
The world's most sensible person and the biggest idiot both stay within us. The worst part is, you can't even tell who is who.
When everybody else is in a down market is focusing on what they're doing wrong, instead focus on what you should be doing differently, it may be that what you did in the past was perfectly right. It is possible to do all the right things in business and still have a business crisis because of what's happening in the external environment. And if you start focusing on mistakes only, you're going to miss opportunities.
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