A Quote by Warren Buffett
Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation.
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Inflation could be a very - is a likely consequence out of what's going on now.
Perhaps the way to meet tomorrow's challenges is not to use yesterday's solutions, but to dare to think the previously unthinkable, to speak the previously unspeakable, and to try that which was previously out of the question.
We are in effect making a - to some extent, making a choice between future inflation and getting our - getting off the floor. And we're likely - we're likely to have more inflation in the future as a consequence of the things we do to fight the present situation.
Even when a person suffers pain in consequence of a thorn having entered into his hand, although it is at once drawn out, it is a punishment that has been inflicted on him, and the least pleasure he enjoys is a reward; all this is meted out by strict justice; as is said in the Scripture, "all His ways are judgement" (Deut. xxxii. 4); we are only ignorant of the working of that judgement.
The future path of the federal funds rate is necessarily uncertain because economic activity and inflation will likely evolve in unexpected ways. For example, no one can be certain about the pace at which economic headwinds will fade. More generally, the economy will inevitably be buffeted by shocks that cannot be foreseen.
Though bitter, good medicine cures illness. Though it may hurt, loyal criticism will have beneficial effects.
It is time for the scientific community to stop giving alternative medicine a free ride There cannot be two kinds of medicine — conventional and alternative. There is only medicine that has been adequately tested and medicine that has not, medicine that works and medicine that may or may not work. Once a treatment has been tested rigorously, it no longer matters whether it was considered alternative at the outset. If it is found to be reasonably safe and effective, it will be accepted.
American economists can't understand the German fear of inflation and the effects of inflation when dealing with the world economic crisis. They wonder why Germany pursues such a different course - 'Why can't they agree with us?' I would have thought it was fairly obvious.
The likely economic effects [of the war in Iraq] would be relatively small... Under every plausible scenario, the negative effect will be quite small relative to the economic benefits.
It is true, says Liebeg, that thousands have lived without a knowledge of tea and coffee; and daily experience teaches us that, under certain circumstances, they may be dispensed with without disadvantage to the merely animal functions, but it is an error, certainly, to conclude from this that they may be altogether dispensed with in reference to their effects; and It is a question whether, if we had no tea and no coffee, the popular instinct would not seek for and discover the means of replacing them.
I guess I've played a lot of failures, which is a Huston quality, I guess. I love losers, though, and have never met anyone who hasn't been one sometime. I'm always looking to understand them, and my father had an extremely keen eye to be able to dissect and bring that forward in the way he told his stories.
In the long run wives are to be paid in a peculiar coin — consideration for their feelings. As it usually turns out this is an enormous, unthinkable inflation few men will remit, or if they will, only with a sense of being overcharged.
And when comfort is what we want, one of the most powerful tonics alternative medicine offers is the word 'natural.' This word implies a medicine untroubled by human limitations, contrived wholly by nature or God or perhaps intelligent design. What 'natural' has come to mean to us in the context of medicine is 'pure' and 'safe' and 'benign'. But the use of 'natural' as a synonym for 'good' is almost certainly a product of our profound alienation from the natural world.
What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.
I still believe that, in the long run, the aggregate of the decisions of individual businessmen, exercising individual judgment in a free economy, even if often mistaken, is likely to do less harm than the centralized decisions of a Government; and certainly the harm is likely to be counteracted faster. As I said earlier in this debate, our economic medicine may be painful but it is fast and powerful because it can act freely.
"More fun than a barrel of monkeys." Has anyone ever stopped to think how cranky, if not downright vicious, a barrelful of monkeys would be, especially once released from the barrel?
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