But if you must be clever, then be clever. Be brave. Sleep with fists closed and shoot straight.
There may be a recession in stock prices, but not anything in the nature of a crash.
Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.
Stocks have reached what looks like a permanently high plateau.
Our society will always remain an unstable and explosive compound as long as political power is vested in the masses and economic power in the classes. In the end one of these powers will rule. Either the plutocracy will buy up the democracy, or the democracy will vote away the plutocracy.
The effort of the economist is to "see," to picture the interplay of economic elements. The more clearly cut these elements appear in his vision, the better; the more elements he can grasp and hold in his mind at once, the better. The economic world is a misty region. The first explorers used unaided vision. Mathematics is the lantern by which what before was dimly visible now looms up in firm, bold outlines. The old phantasmagoria disappear. We see better. We also see further.
Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess
We're in a very, very profound crisis. It's so obvious that no one in the power structure, either the corporate power structure or the political power structure, knows what to do or is willing to do what's necessary in relationship both to global war and global warming. It's so obvious that conditions are getting worse for the great majority of Americans. It's so obvious also that we face a very serious danger from people who feel, see themselves only as victims. And we have to somehow, in a very loving way, help the American people to recover the best that is in our traditions.
What the world needs is not redemption from sin but redemption from hunger and oppression; it has no need to pin its hopes upon Heaven, it has everything to hope for from this earth.
Economists are about as useful as astrologers in predicting the future (and, like astrologers, they never let failure on one occasion diminish certitude on the next).
You are not entitled to your opinion. You are entitled to your informed opinion. No one is entitled to be ignorant.