Retired Mistake

“I can tell you the biggest mistake retirees make is giving up all their active income.” -Mark Ford

Tomorrow’s Capital

“Capitalism is constantly burying its mistakes and discovering tomorrow. Cronyism, on the other hand, keeps you in the past. It is today and yesterday trying to stop tomorrow from happening…. The future is where new wealth is created. When you try to stop or twist the future into the shape want, you prevent this wealth from ever happening. Cronyism depends on the credit bubble…. Cronies owe money.  They borrow money.  They depend on borrowed money for their budgets, their spending, their bonuses, their portfolios, their welfare checks, and their special privileges.  They all depend so heavily on borrowing that few of them – whether in academia, media, business, finance, or government – can see the truth… let alone speak it.  They are all paid not to see it.  And if they do see it, they keep their mouths shut.” -Bill Bonner

Corrective Action

“You correct your mistakes, or they correct you. No other outcome is possible.” -Bill Bonner

Mistaken Practice

“Never practice a mistake.” -Howard Roberts

Created Wealth

“There is no mystery about the credit cycle.  Wealth created ‘on credit’ goes away when the credit is cut off.  Then you find out who’s made the most serious mistakes.” –Bill Bonner

Fearing Mistakes

“The greatest mistake you can make in life is to be continually fearing you will make one.” -Elbert Hubbard

Retired Income

“The biggest mistake retired people make is giving up all their active income.” –Mark Ford