Posts Tagged ‘history’

“Our credit system is currently sitting at $68 trillion. It’s the largest debt ceiling in the history of the world. It’s more than twice the value of every single home in America put together… More than three times the value of every single U.S. bank’s assets combined… More than 20 times the trillions of dollars the U.S. government collects in taxes every year.” -Van Bryan

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“All throughout the history of economics, technologies have emerged and replaced the worst jobs and released human beings to do better things.” -George Gilder

“This free money machine is the equivalent of adding a zero to all the currency bills and declaring that everyone is ten times wealthier now. But as we’ve seen (and history shows), all that happens is a $5 loaf of bread is repriced to $50.” -Charles Hugh Smith

“The masses do not conceive any ideas, sound or unsound. They only choose between the ideologies developed by the intellectual leaders of mankind. But their choice is final and determines the course of events… it determines the whole process of human history.” -Ludwig Von Mises

“It is the masses that determines the course of history, but it’s initial movement must begin with the individual. ” -Robert Murphy and Carlos Lara

“If you add up all of our government, corporate, and consumer debt, America owes roughly $70 trillion…. that adds up to about $836,000 per American household…

The United States has become the largest debtor in human history.  The obvious question is: Why on Earth did so many people borrow so much money they have no hope of ever repaying?” 

-Porter Stansberry

 

I love learning about financial history. I love finding parallels between today and a time in the past. But one clear lesson from history is this: It never happens the exactly the same way the next time around. That’s why it’s easy to be fooled… to think that ‘this time is different’.
Financial disasters and bubbles don’t repeat… but they certainly rhyme. Don’t you forget it!” -Steve Sjuggerud