JAMES GRANT: What have we learned? Nothing. Oh, people are chastened, but the chastisement fades with the opportunities for a new cycle of improvement and of profit. That's the way it is and always has been, and by the way, always will be, notwithstanding the fatuous promises of Washington that we will find the reforms to save us from ourselves. No, no. And I think that there's a lot of talk about like the new normal. There isn't any new. This is cycle upon cycle. It is always a little different, otherwise historians would have the money and otherwise, they have so little of it. It's always different but it's always essentially the same. We go from extreme to extreme. And there's a wonderful book called Where Are the Customers' Yachts ? by Fred Schwed Jr. It came out first in 1940. Schwed, a very funny man, wrote how to get rich. Are you listening?
Sumber Teetah
Sabtu, 03 Juli 2010