The Free Lunch Has Still

The More Flexible An Economy, The Greater Its Ability To Self-correct In Response To Inevitable, Often Unanticipated, Disturbances And Thus To Contain The Size And Consequences Of Cyclical Imbalances.

I Don't Think It's Possible For The Fed To End Its Easy-money Policies In A Trouble-free Manner. Recent Episodes In Which Fed Officials Hinted At A Shift Toward Higher Interest Rates Have Unleashed Significant Volatility In Markets, So There Is No Reason To Suspect That The Actual Process Of Boosting Rates Would Be Any Different. I Think That Real Pressure Is Going To Occur Not By The Initiation By The Federal Reserve, But By The Markets Themselves.

An Almost Hysterical Antagonism Toward The Gold Standard Is One Issue Which Unites Statists Of All Persuasions. They Seem To Sense... That Gold And Economic Freedom Are Inseparable.

Whatever You Tax You Get Less Of.

People Dont Realize That We Cannot Forecast The Future. What We Can Do Is Have Probabilities Of What Causes What, But Thats As Far As We Go. And Ive Had A Very Successful Career As A Forecaster, Starting In 1948 Forward. The Number Of Mistakes I Have Made Are Just Awesome. There Is No Number Large Enough To Account For That.