Quote of the Day: “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in complex conditions order, and adaptation to the unknown, can be achieved more effectively by decentralizing decisions and that a division of authority will actually extend the possibility of overall order. Yet that decentralization actually leads to more information being taken into account” – F. A. Hayek
Quote of the Day: “For about a year, absolutely nothing has thwarted their supernatural ascent, including the threat of World War Three, leading some observers to believe that they have been rigged to perfection. Well, the algo-bots might be pretty fine-tuned, and the central bank inputs of fresh “liquidity” pretty much assured, but for all that, these markets are still human artifacts and Murphy’s Law still lurks out there in the gloaming with its cohorts, the diminishing returns of technology (a.k.a. “Blowback”), and the demon of unintended consequences.
Many, including yours truly, have expected the distortions and perversions on the money side of life to express themselves in money itself: the dollar. So far, it has only wobbled down about ten percent. This is due perhaps to the calibrated disinformation known as “forward guidance” issued by this country’s central bank, the Federal Reserve, which has been threatening — pretty idly so far — to raise interest rates and shrink down its vault of hoarded securities — a lot of it janky paper left over from the misadventures of 2007-2009.
I guess the lesson is that when you have a pervasively false and corrupt financial system, it is always subject to a little additional accounting fraud — until it’s not.” – James Kunstler
Quote of the Day: “A) There’s not enough affordable housing in Denver! B) Let’s make housing more expensive! #ProgressiveLogic” – DK Williams
Quote of the Day: “I don’t think I’ve seen this many New York liberals, this many Wall Street CEOs in one room since my last visit to the White House.” – Paul Ryan
Quote of the Day: “Every afternoon former Speaker John Boehner calls me up, not to give advice, just to laugh…” – Paul Ryan
Quote of the Day: “I know last year at this dinner Donald Trump offended some people with his comments which critics said went too far. Some said it was unbecoming of a public figure and that his comments were offensive…Well, thank God he’s learned his lesson.” – Paul Ryan