Share on Facebook Share on Twitter Comment on this quoteShare via Email Print this Page Daily Quotes Archives2017-02-07 Feb 7, 2017Look, I think you're tackling public expenditure from the wrong end, if I might say so. Why don't you look at it as any housewife has to look at it? She has to look at her expenditure every week or every month, according to what she can afford to spend, and if she overspends one week or month, she's got to economise the next. Now governments really ought to look at it from the viewpoint of "What can we afford to spend?" They've already put up taxes, and yet the taxes they collect are not enough for the tremendous amount they're spending. They're having to borrow to a greater extent than ever before, and future generations will have to repay. Now, if anyone tells me that a Chancellor of the [Denis Healey] Exchequer can put up public expenditure in two years by -- and it's a tremendous figure -- twenty thousand million pounds, and he doesn't know where to get it down by about three thousand million pounds, then he ought never to have been in charge of the nation's finances ... never!~ Margaret ThatcherGovernment does not tax to get the money it needs; government always finds a need for the money it gets.~ Ronald ReaganYou don't make the poor richer by making the rich poorer.~ Sir Winston Churchill Feb 6, 2017The Great Depression was not caused by laissez faire but by the actions of well-intended politicians and bureaucrats. The Federal Reserve System, after all, was not created in response to the Great Depression, but in 1913. Soon thereafter it began experimenting with its awesome powers, expanding the money supply during the roaring ‘20s, propping up the pound sterling in London, extending credit so Europeans could buy American agricultural products. All the while, Congress was becoming more and more protectionist. When the Fed reversed policies in 1929 and actually shrunk the money supply by a third over the next three years and Congress culminated its protectionist tendencies with the Smoot-Hawley tariff, the collapse was underway. The fact that Hoover then raised taxes and Roosevelt kept wages artificially high guaranteed the massive unemployment that marked the 1930s. Government caused and exacerbated the Great Depression.~ Edward H. CraneSociety cannot leap into Communism from capitalism without going through a socialist stage of development.~ Nikita Khrushchev[The task is to] covertly lower the standard of living, the whole social structure, of America so that we can be merged with all other nations.~ Rowan Gaither Feb 3, 2017Give me control over a man's economic actions, and hence over his means of survival, and except for a few occasional heroes, I'll promise to deliver to you men who think and write and behave as I want them to.~ Benjamin A. RoogeEach peso [or dollar] is a contract between the government and the peso holder. That contract guarantees that each peso -- as a unit of value that the holder has worked hard to get -- will be worth as much tomorrow as today. If the government breaks the contract, it's breaking the law. The only role of government in the economy should be to guarantee the integrity of market transactions.~ Domingo CavalloThe chief duty of the National Government in connection with the currency of the country is to coin money and declare its value. Grave doubts have been entertained whether Congress is authorized by the Constitution to make any form of paper money legal tender. The present issue of United States notes has been sustained by the necessities of war; but such paper should depend for its value and currency upon its convenience in use and its prompt redemption in coin at the will of the holder, and not upon its compulsory circulation. These notes are not money, but promises to pay money. If the holders demand it, the promise should be kept.~ James A. Garfield Feb 2, 2017The drive of the Rockefellers and their allies is to create a one-world government combining supercapitalism and communism under the same tent, all under their control... Do I mean conspiracy? Yes I do. I am convinced there is such a plot, international in scope, generations old in planning, and incredibly evil in intent.~ Larry P. McDonaldIn fact, the big corporations who understand the regulatory game can actually benefit from it. They can lobby for expensive regulations only the largest corporations can afford, effectively keeping upstarts and competitors at bay.~ Radley BalkoAlways remember the difference between economic power and political power: You can refuse to hire someone's services or buy his products in the private sector and go somewhere else instead. In the public sector, though, if you refuse to accept a politician's or bureaucrat's product or services you go to jail. Ultimately, after all, all regulations are observed and all taxes are paid at gunpoint. I believe those few who can't even see that have been short-sighted sheep, and I suggest they learn how to think conceptually, develop consistency and grasp principles soon.~ Rick Gaber Feb 1, 2017I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements.~ Milton FriedmanThe Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.~ Milton FriedmanThe power to determine the quantity of money... is too important, too pervasive, to be exercised by a few people, however public-spirited, if there is any feasible alternative. There is no need for such arbitrary power... Any system which gives so much power and so much discretion to a few men, [so] that mistakes - excusable or not - can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic - this is the key political argument against an independent central bank.~ Milton Friedman Previous week's quotes Next week's quotes Share on Facebook Tweet Email Print