"You’re wrong. She is a phony. But on the other hand you’re right. She isn’t a phony because she’s a real phony. She really believes all this crap she believes. You can’t talk her out of it…. She’s nuts."
-Of Holly Golightly, from Truman Capote’s Breakfast at Tiffany’s (1958)
"While central planning may no longer be a credible form of economic organization, the intellectual battle for its rival – free-market capitalism – is far from won."
"Anti-capitalist virulence appears strongest from those who confuse "crony capitalism" with free markets. Crony capitalism abounds when government leaders, usually in exchange for political support, routinely bestow favours on private-sector individuals or businesses. That is not capitalism. It is called corruption."
-Former Federal Reserve Chairman Alan Greenspan, who centrally controlled and underpriced the most over-leveraged interest rate in the world for 18 years and is now cashing in like a reality TV celebrity. Financial Times, January 30, 2012, under the fanciful title: "Meddle with the Market at Your Peril"
Related Posts
No related posts.
More About: Alan Greenspan, corporatism, Economy, Federal Reserve, regulatory capture
Credit Writedowns Pro is now live. Sign up today for monthly or yearly subscriptions.
Also read our News Feed for the latest financial and economic news.
A Real Phony originally appeared on Credit Writedowns
Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1
