When asked what the market would do, J. Pierpont Morgan is supposed to have replied, “It will fluctuate.” And so it has always done. For the time being, capital will be tighter than before, restricting credit–which is not always a bad thing–and businessmen will be reminded (as legislators, state and federal, seem never to learn) that neither bull markets nor recessions last indefinitely.
This is a fundamental reality of capitalism that seems never to penetrate the minds of journalists or politicians: Markets expand, contract a bit, and expand again, revenue streams are not always smooth, and for economic enterprise, the cost of overconfidence can be the same as the price of inertia: swift self-immolation. What appears to be huge, venerable, and financially indestructible today can be gone tomorrow.
[…]
The financial markets are unsteady at the moment, and Wall Street is undergoing elective surgery. But change, not stasis, is the hallmark of the free market […]
Tag: quote
During the April 16 debate between Hillary Clinton and Barack Obama, moderator George Stephanopoulos brought up “a gentleman named William Ayers,” who “was part of the Weather Underground in the 1970s. They bombed the Pentagon, the Capitol, and other buildings. He’s never apologized for that.” Stephanopoulos then asked Obama to explain his relationship with Ayers. Obama’s answer: “The notion that somehow as a consequence of me knowing somebody who engaged in detestable acts 40 years ago, when I was eight years old, somehow reflects on me and my values, doesn’t make much sense, George.” Obama was indeed only eight in early 1970. I was only nine then, the year Ayers’s Weathermen tried to murder me.
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Nobody should hold the junior senator from Illinois responsible for his friends’ and supporters’ violent terrorist acts. But it is fair to hold him responsible for a startling lack of judgment in his choice of mentors, associates, and friends, and for showing a callous disregard for the lives they damaged and the hatred they have demonstrated for this country. It is fair, too, to ask what those choices say about Obama’s own beliefs, his philosophy, and the direction he would take our nation.
James Madison:
“For the same reason that the members of the State legislatures will be unlikely to attach themselves sufficiently to national objects, the members of the federal legislature will be likely to attach themselves too much to local objects.” (Federalist No. 46, 1 February 1788)
“Sometimes bipartisanship is grounds for celebration, but more often it is cause for tears. Last week, congressional leaders from both parties went into a room to hammer out a plan that would put taxpayers on the hook for $700 billion. But they assert that the investment is essential to the health of the economy. And they insist that if we make this investment, we’ll get all or most of it back.
“This promise would be more believable if the federal government had a long record of using tax dollars responsibly. In fact, it’s the equivalent of the guy who raids his kid’s piggy bank to feed the slots. The most notable impulse of our leaders is spending money the Treasury doesn’t have, piling up bills that future Americans will have to cover.”
“The last thing Jesus needs is the State. Stupid Christians like James Dobson and Pat Roberton like D.C. more than grace … sad.”
“[I] [w]ish more startups focused on what can we be AWESOME at rather than what can we be FIRST at. “First-mover advantage” can be a trap.”
(Of course, being first AND being awesome is the ideal…)
“[T]he present Constitution is the standard to which we are to cling. Under its banners, bona fide must we combat our political foes — rejecting all changes but through the channel itself provides for amendments.” — Alexander Hamilton (letter to James Bayard, April 1802)
Reference: Selected Writings and Speeches of Alexander Hamilton,
Frisch, ed. (511)
Oh, how far we have fallen…
From my good friend, Brent:
“[T]he only people who bring up the supposed value of IBM/Windows over Mac are people whose livelihoods depend on it. Those PC vs. Mac commercials are correct, and Jerry Seinfeld can’t fix it.”
(It’s worth noting Brent’s livelihood does not, in fact, depend on the Mac. He’s just a satisfied user of one at home, whereas his work computer is Windows-based.)
Tony Woodlief never fails to amuse me in some fashion:
[T]his is what we have come to: a grown man, grooming his eyebrows in traffic, using his rear-view mirror. In Wichita.
Moments like this are reminders for me that the songs and trappings of Christian culture are not the hope of the world–Jesus is! We need to make him known. We need to love and seek to serve the world around us through prayer, through faithful evangelism, and through Christ-like service of those in need. Our goal is not building a more air-tight evangelical bubble. Neither should our goal be hoping that our subculture will burst out into the broader culture to great acclaim.
Instead, our goal should be to proclaim Christ and him crucified to the people we go to the school with, work with, and live next door to. Our goal should be to preach the gospel and live lives worthy of that gospel. Our goal should be to use our gifts in every sector of society so that God is glorified.