Post Tagged with: "quote of the day"
Record high in part-time work
The number of Americans who have seen their full-time jobs chopped to part time because of weak business has swelled to more than 3.7 million — the largest figure since the government began tracking such data more than half a century ago.-NY Times, A Hidden Toll on Employment: Cut to Part Time, 31 Jul 2008
Jeremy Grantham: “I am officially scared”
“I am officially scared. In 2000, we had a technology bubble. But this is massive, a massive credit crisis and a bubble in global housing, global equity and global land.” -Jeremy Grantham as quoted by Chicago Tribune
George W. Bush: “There is no question about it. Wall Street got drunk”
Talking about the financial markets and the housing mess, George W. Bush offered up these pearls of wisdom: “There is no question about it. Wall Street got drunk…. That’s one reason I asked you to turn off your TV cameras….[Wall Street] got drunk and now it’s got a hangover……The question is, how long will it
Quote of the day: 20 Jul 2008 – James Grant
Have we, too, not suffered at the hands of what used to be called The Interests? Have the stewards of other people’s money not made a hash of high finance? Did they not enrich themselves in boom times, only to pass the cup to us, the taxpayers, in the bust? Where is the people’s wrath?
Quote of the day: 18 Jul 2008 – Caroline Baum
In her column at Bloomberg News, Baum had this to say about the financial bailout solutions proposed by the U.S. government. How do we know the market failed if we don’t allow it to work? Capitalism without failure is like religion without sin…… And no, none of [the bailout proposals] are solutions for a market
Quote of the Day: Jim Bunning
In his prepared remarks at the Senate Banking Committee, Jim Bunning had a classic line. When I picked up my newspaper yesterday, I thought I woke up in France. But no, it turns out socialism is alive and well in America.-Bunning Senate Website, 15 Jul 2008 France is always a good target in the
Quote of the day: Warren Buffett
Warren Buffett is a confident investor who believes in the companies he buys. As a result he said the following at his recent Annual General Meeting: “If a stock [I own] goes down 50%, I’d look forward to it. In fact, I would offer you a significant sum of money if you could give me
Quote of the day: Cans of food, piles of gold krugerrands and a gun
Back in 1973 when the market was going to hell in a hand basket, one London market guru offered this cheery advice: “You will need to invest in three things to survive next year’s economy: Cans of food, piles of gold krugerrands and a gun.”-WSJ: What to Do in a Stock Selloff, 11 Jul
Jeremy Grantham: “Many shares priced for… economic collapse”
Super-bear Jeremy Grantham had something positive to say for once. Well actually it’s only a friend of Jeremy Grantham, oh well. But it IS positive — sort of. “The good news, provided you are by now heavily liquid, is that there are many shares priced for a degree of economic collapse that even I do
Marc Faber: “I think a lot of banks are already bankrupt”
“I think a lot of banks are already bankrupt.” “And a lot of insurance companies and financial institutions, but they hide their rotten assets in level three asset categories, where you don’t need to value them.” “I think the financial sector by and large has much larger problems than is perceived by the investment community.
Quote of the Day: David Rosenberg on tax rebates to buy iPods
Chief North American economist David Rosenberg said the following about the Bush Administration’s fiscal response to the credit crisis: We are nervous that we have ended up following in Japan’s footsteps due to the inept fiscal response to the problem. A temporary tax rebate from Uncle Sam to buy iPods tackles a real estate deflation