Quotes about stock
page 2

“The shock therapy of decisive war against Iraq will elevate the stock market by a couple-thousand points. We will know that our businesses will stay open, that our families will be safe, and that our future will be unlimited. The world will be righted in this life-and-death struggle to preserve our values and our civilization. But to do all this, we must act.”

Lawrence Kudlow (1947) American economist

National Review Online http://article.nationalreview.com/?q=ZTIzOWYzYjk4NWM1Y2U5M2U1NmI3ZWFjODdkOTI3MTg= June 26, 2002.

Life, Death, War, World

“I do not mean to suggest that all those who call themselves monetarists make this unconscious assumption that an inflation involves this uniform rise of prices. But we may distinguish two schools of monetarism. The first would prescribe a monthly or annual increase in the stock of money just sufficient, in their judgment, to keep prices stable. The second school (which the first might dismiss as mere inflationists) wants a continuous increase in the stock of money sufficient to raise prices steadily by a "small" amount—2 or 3 per cent a year. These are the advocates of a "creeping" inflation. … I made a distinction earlier between the monetarists strictly so called and the "creeping inflationists." This distinction applies to the intent of their recommended policies rather than to the result. The intent of the monetarists is not to keep raising the price "level" but simply to keep it from falling, i. e., simply to keep it "stable." But it is impossible to know in advance precisely what uniform rate of money-supply increase would in fact do this. The monetarists are right in assuming that in a prospering economy, if the stock of money were not increased, there would probably be a mild long-run tendency for prices to decline. But they are wrong in assuming that this would necessarily threaten employment or production. For in a free and flexible economy prices would be falling because productivity was increasing, that is, because costs of production were falling. There would be no necessary reduction in real profit margins. The American economy has often been prosperous in the past over periods when prices were declining. Though money wage-rates may not increase in such periods, their purchasing power does increase. So there is no need to keep increasing the stock of money to prevent prices from declining. A fixed arbitrary annual increase in the money stock "to keep prices stable" could easily lead to a "creeping inflation" of prices.”

Henry Hazlitt (1894–1993) American journalist

Where the Monetarists Go Wrong (1976)

Money, School, Past

“Occasionally an unsuspecting innocent will stumble into a movie like this and send me an anguished postcard, asking how I could possibly give a favorable review to such trash. My stock response is Ebert's Law, which reads: A movie is not about what it is about. It is about how it is about it.”

Roger Ebert (1942–2013) American film critic, author, journalist, and TV presenter

Review http://www.rogerebert.com/reviews/freeway-1997 of Freeway (24 January 1997) Reviews, Three-and-a-half star reviews

Law, Reading

“Eph. i.6. "Who hath made us accepted in the beloved.” Our being in him is the ground or our being accepted. So it is in those unions to which the Holy Ghost has thought fit to compare this. The union of the members of the body with the head, is the ground of their partaking of the life of the head; it is the union of the branches to the stock, which is the ground of their partaking of the sap and life of the stock; it is the relation of the wife to the husband, that is the ground of her joint interest in his estate; they are looked upon, in several respects, as one in law. So there is a legal union between Christ and true Christians; so that (as all except Socinians allow) one, in some respects, is accepted for the other by the Supreme Judge.(Edwards writes later in the sermon… "What is real in the union between Christ and his people, is the foundation of what is legal; that is, it is something really in them, and between them, uniting them, that is the ground of the suitableness of their being accounted as one by the Judge.")”

Jonathan Edwards (1703–1758) Christian preacher, philosopher, and theologian

Justification By Faith Alone (1738)

Life, People, Law, Christ

“I admit freely enough that, by careful breeding, supervision of environment and education, extending over many generations, it might be possible to make an appreciable improvement in the stock of the American negro, for example, but I must maintain that this enterprise would be a ridiculous waste of energy, for there is a high-caste white stock ready at hand, and it is inconceivable that the negro stock, however carefully it might be nurtured, could ever even remotely approach it. The educated negro of today is a failure, not because he meets insuperable difficulties in life, but because he is a negro. He is, in brief, a low-caste man, to the manner born, and he will remain inert and inefficient until fifty generations of him have lived in civilization. And even then, the superior white race will be fifty generations ahead of him.”

H.L. Mencken (1880–1956) American journalist and writer

Men versus the Man: A Correspondence between Robert Rives La Monte, Socialist, and H.L. Mencken, Individualist (1910), pg. 116
1910s

Life, Education, Failure

“Young, blond fags with powder-blue eyes and soft shoes skipped along arm-in-arm. Chinese girls with long hair and black stockings carried metal pots into Ernie’s Delicatessen for bean cake, barbequed duck, Chinese curds and steamed rice. Art students from the Art Institute, draftsmen from Heald’s College and law students from S. F. Law School walked by in carefree abandon, none of them in pain, all with beautiful girls in red slippers. They had leather, beads and books and pipes and scabs of hair on their interesting faces. Polk Street at night was always Christmas Eve for lonely men such as myself.”

Oscar Zeta Acosta book Autobiography of a Brown Buffalo

Source: Autobiography of a Brown Buffalo (1972), p. 51.

Men, Pain, Books, School

“Twas the night before Christmas, the office was closed,
The transom was shut, the staff home in repose;
The stockings were hung by the chimney with care,
But St. Nicholas won’t be coming because this is a Designated National Security Site within the meaning of Para 4.12 of Section 3 of the Official Secrets Act (Amended) and unauthorised intrusion on such a site is an arrestable offense …”

Charles Stross The Laundry Files

The Laundry Files, The Rhesus Chart (2014)

Secret, Home, Christmas, Night

“Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

1991 Chairman's Letter http://www.berkshirehathaway.com/letters/1991.html Letters to Shareholders (1957 - 2012)

Money, Behavior

“Nearly everyone interested in common stocks wants to be told by someone else what he thinks the market is going to do. The demand being there, it must be supplied.”

Benjamin Graham (1894–1976) American investor

Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter III, The Investor and His Advisers, p. 48

Thinking

“The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.”

Mark Skousen (1947) American economist, investment analyst, newsletter editor, college professor and author

Mark Skousen; in: The Freeman: Ideas on Liberty, Vol. 60, Nr. 3-10 (2010). p. 7

Business, Reality, Forgetting

“MR. PANSCOPE. (suddenly emerging from a deep reverie.) I have heard, with the most profound attention, everything which the gentleman on the other side of the table has thought proper to advance on the subject of human deterioration; and I must take the liberty to remark, that it augurs a very considerable degree of presumption in any individual, to set himself up against the authority of so many great men, as may be marshalled in metaphysical phalanx under the opposite banners of the controversy; such as Aristotle, Plato, the scholiast on Aristophanes, St Chrysostom, St Jerome, St Athanasius, Orpheus, Pindar, Simonides, Gronovius, Hemsterhusius, Longinus, Sir Isaac Newton, Thomas Paine, Doctor Paley, the King of Prussia, the King of Poland, Cicero, Monsieur Gautier, Hippocrates, Machiavelli, Milton, Colley Cibber, Bojardo, Gregory Nazianzenus, Locke, D'Alembert, Boccaccio, Daniel Defoe, Erasmus, Doctor Smollett, Zimmermann, Solomon, Confucius, Zoroaster, and Thomas-a-Kempis.
MR. ESCOT. I presume, sir, you are one of those who value an authority more than a reason.
MR. PANSCOPE. The authority, sir, of all these great men, whose works, as well as the whole of the Encyclopaedia Britannica, the entire series of the Monthly Review, the complete set of the Variorum Classics, and the Memoirs of the Academy of Inscriptions, I have read through from beginning to end, deposes, with irrefragable refutation, against your ratiocinative speculations, wherein you seem desirous, by the futile process of analytical dialectics, to subvert the pyramidal structure of synthetically deduced opinions, which have withstood the secular revolutions of physiological disquisition, and which I maintain to be transcendentally self-evident, categorically certain, and syllogistically demonstrable.
SQUIRE HEADLONG. Bravo! Pass the bottle. The very best speech that ever was made.
MR. ESCOT. It has only the slight disadvantage of being unintelligible.
MR. PANSCOPE. I am not obliged, Sir, as Dr Johnson remarked on a similar occasion, to furnish you with an understanding.
MR. ESCOT. I fear, Sir, you would have some difficulty in furnishing me with such an article from your own stock.
MR. PANSCOPE. 'Sdeath, Sir, do you question my understanding?
MR. ESCOT. I only question, Sir, where I expect a reply, which from what manifestly has no existence, I am not visionary enough to anticipate.
MR. PANSCOPE. I beg leave to observe, sir, that my language was perfectly perspicuous, and etymologically correct; and, I conceive, I have demonstrated what I shall now take the liberty to say in plain terms, that all your opinions are extremely absurd.
MR. ESCOT. I should be sorry, sir, to advance any opinion that you would not think absurd.
MR. PANSCOPE. Death and fury, Sir!
MR. ESCOT. Say no more, Sir - that apology is quite sufficient.
MR. PANSCOPE. Apology, Sir?
MR. ESCOT. Even so, Sir. You have lost your temper, which I consider equivalent to a confession that you have the worst of the argument.
MR. PANSCOPE. Lightnings and devils!”

Thomas Love Peacock book Headlong Hall

Headlong Hall, chapter V (1816).

Death, Men, Pain, Fear

“Donald Trump is Hillary Clinton’s Christmas gift wrapped up under a tree. I am the lump of coal in her stocking.”

Carly Fiorina (1954) American corporate executive and politician

Twitter http://www.cnn.com/2015/12/09/politics/donald-trump-hillary-clinton-conspiracy/index.html (8 December 2015). 2010s, 2015

Tree, Christmas

“Oh, Mr. Wolff, what do you think of Balzac? "
Josh politely ceased to masticate, swallowed and answered,
" I never trade them Curb stocks!”

Edwin Lefèvre book Reminiscences of a Stock Operator

Source: Reminiscences of a Stock Operator (1923), Chapter XXII, p. 265 (See also: New York Curb Exchange)

Thinking

“Ralph Nader’s the guy. If Ralph Nader had become president, we would not have had the problems. Everything he says is correct. He said, “Don’t tax food. Tax the stock market. Every time somebody trades stock, put another tax on it…" Every time you trade, they take a service fee, five bucks or something. That’s bullshit. The government should get it and give it to me while I live in my refrigerator box. I don’t mean me, I mean us undergrounds. Nader was right on. Everything he said was right on and the media treated him like a clown. The media treated him worse than they treat Troma.”

Lloyd Kaufman (1945) American film director

CraveOnline http://www.craveonline.com/film/articles/507781-exclusive-cannes-interview-lloyd-kaufman-on-nuke-em-high May 28, 2013 2013

Food, Guy, Problem, Time

“A pretty little collection of weaknesses and a terror of spiders are our indispensable stock-in-trade with the men… nine men out of ten are superstitious, nineteen out of twenty believe in the evil eye, and ninety-eight out of a hundred are afraid of spiders. They forgive us — oh! for many things, but not for the absence in us of their own feelings.”

Colette (1873–1954) 1873-1954 French novelist: wrote Gigi

Aunt Alicia
Gigi (1945)

Men, Feeling, Forgiveness, Evil

“The lords and ladies pass a ruling
That sons and girls go hand in land
From good stock and the best breeding
Paid for by the servile class.”

Paul Weller (singer) (1958) English singer-songwriter, Guitarist

The Whole Point Of No Return, from Café Bleu (1984)

Girl

“If you have money in the stock market, if you have… may I just recommend you have some cash handy, that you have your food and everything else ready. I hope to God that none of this stuff happens, but you have people who are anarchist revolutionaries who are intent on collapsing the system, they are trying to break the system.”

Glenn Beck (1964) U.S. talk radio and television host

2010s, 2011

Money, God, People, Food

“As to the Income Tax, my opinion is that the needful revenue would be fairly and most fairly raised if paid by property, and by individuals in proportion to their property…A Property Tax should be an assessment upon all land and buildings, and canals and railroads, but not on property such as machinery, stock in trade, etc. The aristocracy have squeezed all they can out of the mass of the consumers, and now they lay their daring hands on those not wholly impoverished.”

John Bright (1811–1889) British Radical and Liberal statesman

Letter to his sister Margaret on Sir Robert Peel's budget (1842), quoted in G. M. Trevelyan, The Life of John Bright (London: Constable, 1913), pp. 72-73.
1840s

“Birth control is not contraception indiscriminately and thoughtlessly practiced. It means the release and cultivation of the better racial elements in our society, and the gradual suppression, elimination and eventual extirpation of defective stocks— those human weeds which threaten the blooming of the finest flowers of American civilization.”

Margaret Sanger (1879–1966) American birth control activist, educator and nurse

"Apostle of Birth Control Sees Cause Gaining Here", The New York Times, , p. XII http://query.nytimes.com/gst/abstract.html?res=9C01E1DF1F30E333A2575BC0A9629C946295D6CF.

Flowers, Birth

“Then the war came, intensifying the native nationalistic sense of every race in the world. We found alien enemies in spirit among the native-born children of the foreign-born in America; we found old stirrings in the hearts of men, even when they were naturalized citizens, and a desire to take part in the world struggle, not as Americans, but as Jugo-Slavs or Czecho-Slovaks. We found belts and stockings stuffed with gold to be taken home, when peace should be declared, by men who will go back to work out their destinies in a land they thought never to see again. We found strong racial groups in America split into factions and bitterly arraigned against one another. We found races opposing one another because of prejudices and hatreds born hundreds of years ago thousands of miles away. We awoke to the fact that old-world physical and psychological characteristics persisted under American clothes and manners, and that native economic conditions and political institutions and the influences of early cultural life were enduring forces to be reckoned with in assimilation. We discovered that while a common language and citizenship may be portals to a new nation, men do not necessarily enter thereby, nor do they assume more than an outer likeness when they pass through”

Frances Kellor (1873–1952) American sociologist

What is Americanization? (1919)
Context: When the country first tried in 1915 to Americanize its foreign-born people, Americanization was thought of quite simply as the task of bringing native and foreign-born Americans together, and it was believed that the rest would take, care of itself. It was thought that if all of us could talk together in a common language unity would be assured, and that if all were citizens under one flag no force could separate them. Then the war came, intensifying the native nationalistic sense of every race in the world. We found alien enemies in spirit among the native-born children of the foreign-born in America; we found old stirrings in the hearts of men, even when they were naturalized citizens, and a desire to take part in the world struggle, not as Americans, but as Jugo-Slavs or Czecho-Slovaks. We found belts and stockings stuffed with gold to be taken home, when peace should be declared, by men who will go back to work out their destinies in a land they thought never to see again. We found strong racial groups in America split into factions and bitterly arraigned against one another. We found races opposing one another because of prejudices and hatreds born hundreds of years ago thousands of miles away. We awoke to the fact that old-world physical and psychological characteristics persisted under American clothes and manners, and that native economic conditions and political institutions and the influences of early cultural life were enduring forces to be reckoned with in assimilation. We discovered that while a common language and citizenship may be portals to a new nation, men do not necessarily enter thereby, nor do they assume more than an outer likeness when they pass through.

Life, Men, War, Children

“If you want to do a film, steal a camera, steal raw stock, sneak into a lab and do it!”

Werner Herzog (1942) German film director, producer, screenwriter, actor and opera director

Werner Herzog Eats His Shoe (1980)

“It is easier to point fingers than to accept responsibilities. People complain about elected officials but they do not care to vote. They criticize some multinational corporations but their banks and 401K are profiting from the stocks of those companies.”

Newton Lee American computer scientist

Google It: Total Information Awareness, 2016

People

“Wal-Mart has made it known that it will decline to stock Roecker's film, an honor despite itself and one that speaks volumes about Roecker's talents.”

John Roecker (1966) American film director

[Austin Chronicle, http://www.austinchronicle.com/screens/2006-01-27/329543/, Punk, Puppets, and Manson as Messiah: John Roecker on 'Live Freaky! Die Freaky!', January 27, 2006, Marc, Savlov, Austin Chronicle Corp.]
About

“Seeing a guest come, she feels shy;
Her stockings coming down, away she tries to fly.
Her hairpin drops;
She never stops
But to look back.
She leans against the door,
Pretending to sniff at mume blossoms once more.”

Li Qingzhao (1084–1155) Chinese writer

《点绛唇》 ("Rouged Lips"), as translated by Xu Yuan Zhong in Song of the Immortals (New World Press, 1994), p. 227

Feeling, Flying

“I knew that he prayed a great deal, of course for help in the examinations. But subsequent clinical experience has convinced me that God is not particularly interested in examinations, just as he won't be dragged into the Stock Market, or being a backer in show business.”

Robertson Davies book The Cunning Man

Part 1, section 13.
The Cunning Man (1994)

God, Business, Help

“The history of the past fifty years, and longer, indicates that a diversified holding of representative common stocks will prove more profitable over a stretch of years than a bond portfolio, with one important provisio—that the shares must be purchased at reasonable market levels, that is, levels that are reasonable in the light of fairly well-defined standards derived from past experience.”

Benjamin Graham (1894–1976) American investor

Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter I, What the Intelligent Investor Can Accomplish, p. 7

History, Light, Past

“Throughout life, all people are engaged in activities – practical or mental – trying to solve problems, activities that themselves give rise to problems. To solve these problems, people need knowledge. They can acquire this personal knowledge in two main ways. First, they can interrogate the world – natural and social – by means of closer observation, deeper analysis, controlled experiment, all forms of cognitive interaction. Second, they can enrich their personal knowledge by communicative interaction with the stock of public knowledge that mankind has built up over the millenia, thus acquiring what we may call information. The activities in which people engage also produce two other kinds of knowledge: that embodied in people (skills) and that embodied in their artefacts.”

Brian Campbell Vickery (1918–2009) British information theorist

Brian Vickery (2005) " Information science, in 3 parts http://web.archive.org/web/20100201154159/http://www.lucis.me.uk/infosci1.htm" on lucis.me.uk, 2005.

Life, People, World, Way

“I don't know him from a can of paint. I'm 15 years deep. That's how you attack a king? You attack moi? Come on, man. "You got to come correct. You the laughing stock. People are like, 'You can't be serious.”

Timbaland (1972) American record producer, rapper, record executive and singer from Virginia

Elliot in the Morning, about plagiarism controversy http://en.wikipedia.org/wiki/2007_Timbaland_plagiarism_controversy, 2007-02-02

People, Painting

“The playing field is more sacred than the stock exchange, more blessed than Capital Hill or the vaults of Fort Knox. The diamond and the gridiron - and, to a lesser degree, the court, the rink, the track, and the ring - embody the American dream of Eden.”

Lewis H. Lapham (1935) American journalist

Source: Money And Class In America (1989), Chapter 5, Social Hygiene, p. 125

Dreams

“The supermarket shelves have been rearranged. It happened one day without warning. There is agitation and panic in the aisles, dismay in the faces of older shoppers. […]They scrutinize the small print on packages, wary of a second level of betrayal. The men scan for stamped dates, the women for ingredients. Many have trouble making out the words. Smeared print, ghost images. In the altered shelves, the ambient roar, in the plain and heartless fact of their decline, they try to work their way through confusion. But in the end it doesn’t matter what they see or think they see. The terminals are equipped with holographic scanners, which decode the binary secret of every item, infallibly. This is the language of waves and radiation, or how the dead speak to the living. And this is where we wait together, regardless of our age, our carts stocked with brightly colored goods. A slowly moving line, satisfying, giving us time to glance at the tabloids in the racks. Everything we need that is not food or love is here in the tabloid racks. The tales of the supernatural and the extraterrestrial. The miracle vitamins, the cures for cancer, the remedies for obesity. The cults of the famous and the dead.”

Don DeLillo book White Noise

White Noise (1984)

Love, Women, Men, Secret

“This is what you should do: Go to your record store and buy all the GG ALLIN recordings you can find. If they dont have any in stock, tell them to order some. If they refuse, then do what you have to do. Call radio stations and demand GG Allin. Spray paint "GG ALLIN" everywhere. Make them aware that the disease and the Scumfuc tradition is still spreading. Write "GG ALLIN" on all your dollar bills. Any bills you have. People do not throw money away, so it would be a free way to get the message out. You must do it every day of your life. We must live for the Rock 'N' Roll underground. It CAN be dark and dangerous again. It CAN be threatning to our society as it was meant to be. IT MUST BE UNCOMPROMISING. And with me as your leader, it will happen. I am ready to lead you, my allies, into the real Rock 'N' Roll underground. Let's get started.”

GG Allin (1956–1993) American singer-songwriter

GG Allin: GG Allin Mission Statement http://ggallinonline.com/mission.php, GG Allin Online.com, 1991. GG Allin Mission Statement read March 1, 2010.

Life, Money, People, Disease

“I DON’T KNOW IF YOU HAVE EVER LUNCHED WITH A VEGETARIAN. Probably you have. If you live in San Francisco you have. Then you’ve seen Dominic, his hand raised, fingers slightly crook’d to summon a waitress: Ma’am? (Pointing to the menu.) Is this dish made with meat stock? The waitress (a Chinese restaurant) takes a moment to divine the desired answer. No. (When in doubt.) So imperial, so sliding scale, so uncomprehending is her no, so wise is her no, finally, so Greek, so Arab, so Catholic, so Brown is her no, Dominic cannot be reassured. Dominic’s vegetarianism has to do with upholding the sacredness of life. He needs a puritan answer. Whereas Peter. Peter is the son of my friend Franz. Peter is as easy in the brown world of maybe as he is in his own white skin. He is wandering through India as I write this. Peter is handsome, gentle, Hindu-intoxicated, slightly blue; his skin is slightly blue. Peter’s veganism has to do with the sacredness of his own body; with the purity of his lungs and his bowels and his liver and his breath. Peter’s vigilance is maniacal: Do you place meat and vegetables on the same grill?”

Richard Rodríguez (1944) American journalist and essayist

Brown : The Last Discovery of America (2003)

Life, World

“When people not accustomed to Washington came to the office, or when I met them on some special occasion, they often remarked that it seemed to be my busy day, to which my stock reply came to be that all days were busy and there was little difference among them.”

Calvin Coolidge book The Autobiography of Calvin Coolidge

The Autobiography of Calvin Coolidge, Cosmopolitan Book Corporation (1929), p. 200.
1920s

People, Business

“How do wealth-income and capital-output ratios evolve in the long run, and why? Until recently it was difficult to properly address this question, for one simple reason: national accounts were mostly about ﬂows, not stocks. Economists had at their disposal a large body of historical series on ﬂows of output, income and consumption – but limited data on stocks of assets and liabilities. When needed, for example for growth accounting exercises, estimates of capital stocks were typically obtained by cumulating past ﬂows of saving and investment. This is ﬁne for some purposes, but severely limits the set of questions one can ask.”

Thomas Piketty (1971) French economist

Piketty, Thomas, and Gabriel Zucman. Capital is back: Wealth-income ratios in rich countries, 1700-2010 http://piketty.pse.ens.fr/files/PikettyZucman2013WP.pdf. Centre for Economic Policy Research, 2013.

Exercises, Question, Past, Wealth

“Do we have a free press today? Sure we do. It’s free to report all the sex scandals it wants, all the stock market news we can handle, every new health fad that comes down the pike, and every celebrity marriage or divorce that happens. But when it comes to the real down and dirty stuff—stories like Tailwind, the October Surprise, the El Mozote massacre, corporate corruption, or CIA involvement in drug trafficking—that’s where we begin to see the limits of our freedoms. In today’s media environment, sadly, such stories are not even open for discussion. Back in 1938, when fascism was sweeping Europe, legendary investigative reporter George Seldes observed that “it is possible to fool all the people all the time—when government and press cooperate.””

Gary Webb (1955–2004) American investigative journalist

Unfortunately, we have reached that point.
Source: Into the Buzzsaw: Leading Journalists Expose the Myth of a Free Press., p. 156

Marriage, People, Health, Fools

“Stocks are a voting mechanism, pure and simple. They are a collective vote of expectations of each company's future fundamentals.”

Andy Kessler (1958) American writer

Part V, The Next Barrier, Do Stocks Talk?, p. 181.
Running Money (2004) First Edition

Future

“The man who employs either his labour or his stock in a grater variety of ways than his situation renders necessary, can never hurt his neighbour by underselling him. He may hurt himself, and he generally does so. Jack of all trades will never be rich, says the proverb. But the law ought always to trust people with the care of their own interest, as in their local situations they must generally be able to judge better of it than the legislator can do.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: (1776), Book IV, Chapter V, Digression, p. 572.

People, Law, Way, Hurt

“New diseases like syphilis seemed to call for new and "stronger" medicines; and this became one of the stock arguments for resort to the Paracelsian chemical pharmacopeia and mystical medical philosophy. With every fundamental of medicine thus called into question, the only logical recourse was to observe results of cures administered in accordance with the old Galenic as against the new Paracelsian theories, and then to choose whichever worked better. The swift development of European medical practice to levels of skill exceeding all other civilized traditions resulted.”

William H. McNeill (1917–2016) Canadian historian

Source: Plagues and Peoples (1976), Ch.6.

Disease, Question

“I emphatically call your attention to the obvious fact that the primitive Christian doctrine is a specific demand for the suicide of our race, which survived from the end of the Roman Empire to the present only because our ancestors, of fresh barbarian stock, simply ignored in practice a large part of the pernicious doctrine, especially in northern Europe under essentially aristocratic régimes. Until the disintegration of Protestantism made it possible for any ambitious tailor, clever confidence man, or disgruntled housewife to have "revelations" and pitch the woo at lower classes to make themselves important or fleece the suckers, the professional holy men either contented themselves with telling our people they were "sinful" or used the common devices of theologians to conceal the import of the holy book.”

Revilo P. Oliver (1908–1994) American philologist

Even so, however, the Catholic dervishes are obviously responsible for the eventual dominance of mestizos in "Latin" America, and many similar misfortunes.
The Jewish Strategy, Chapter 12 "Christianity"
1990s, The Jewish Strategy (2001)

Men, People, Books, Confidence

“When the stock market crashed, Franklin D. Roosevelt got on the television and didn't just talk about the, you know, the princes of greed. He said, 'Look, here's what happened.”

Joe Biden (1942) 47th Vice President of the United States (in office from 2009 to 2017)

Interview with CBS Evening News. CBS Evening News http://cbs2.com/politics/joe.biden.interview.2.823202.html, September 22, 2008 2000s

“we do not offer them a better health-care plan than the ordinary Canadian can receive. I think that’s something that new and old stock Canadians can agree with”

Stephen Harper (1959) 22nd Prime Minister of Canada

17 September 2015 according to 18 September 2015 article by Peter Edwards mentioning "the phrase “old stock Canadians” used by Prime Minister Stephen Harper in Thursday’s leadership debate." https://www.thestar.com/news/canada/2015/09/18/old-stock-canadians-phrase-chills-prof-ignites-twitter.html 2015

Health, Thinking

“It can be argued that the U. S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.”

Peter D. Schiff (1963) American entrepreneur, economist and author

Quotes from Crash Proof (2006)

Wealth

“The swift victory of the railway over the waterway resulted from organizational as well as technological innovation. Technology made possible fast, all-weather transportation; but safe, regular, reliable movement of goods and passengers, as well as the continuing maintenance and repair of locomotives, rolling stock, and track, roadbed, stations, roundhouses and other equipment, required the creation of a sizable administrative organization. It meant the employment of an administrative command of middle and top executives to monitor, evaluate, and coordinate the work of managers responsible for the day-to-day operations. It meant, too, the formulation of brand new types of internal administrative procedures and accounting and statistical controls. Hence, the operational requirements of the railroads demanded the creation of the first administrative hierarchies in American business.”

Alfred D. Chandler, Jr. (1918–2007) American historian

Source: The Visible Hand (1977), p. 87.

Business, Victory, Weather

“This concept of capital-rebuilding is so important that it may be desirable to digress for a moment. In the broadest sense of the word, capital means the sum total of the valuable things possessed by the individuals of a society, excluding "claims," that is, mere titles to property. The word is used to mean both the inventory of these valuable things; the houses, factories, machines, livestock, stocks of raw materials, and goods in all stages of completion; and also to mean the sum of the values of these things. It should generally be clear from the context which of these two meanings is intended.”

Kenneth E. Boulding (1910–1993) British-American economist

Source: 1940s, The Economics of Peace, 1945, p. 5

Sense, Housing

“Treatment of the apparently whimsical fluctuations of the stock quotations as truly non stationary processes requires a model of such complexity that its practical value is likely to be limited. An additional complication, not encompassed by most stock market models, arises from the manifestation of the market as a nonzero sum game.”

Richard Arnold Epstein (1927) American physicist

Source: The Theory of Gambling and Statistical Logic (Revised Edition) 1977, Chapter Nine, Weighted Statistical Logic And Statistical Games, p. 295

Game

“The stock of money, prices and output was decidedly more unstable after the establishment of the Reserve System than before. The most dramatic period of instability in output was, of course, the period between the two wars, which includes the severe (monetary) contractions of 1920-1, 1929-33, and 1937-8. No other 20 year period in American history contains as many as three such severe contractions.
This evidence persuades me that at least a third of the price rise during and just after World War I is attributable to the establishment of the Federal Reserve System… and that the severity of each of the major contractions — 1920-1, 1929-33 and 1937-8 is directly attributable to acts of commission and omission by the Reserve authorities…
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…
To paraphrase Clemenceau, money is much too serious a matter to be left to the central bankers.”

Milton Friedman (1912–2006) American economist, statistician, and writer

As quoted in The Money Masters (1995)

Men, Money, War, World

“That is why we give to children a proverb, or that which the Greeks call Chreia, to be learned by heart; that sort of thing can be comprehended by the young mind, which cannot as yet hold more. For a man, however, whose progress is definite, to chase after choice extracts and to prop his weakness by the best known and the briefest sayings and to depend upon his memory, is disgraceful; it is time for him to lean on himself. He should make such maxims and not memorize them. For it is disgraceful even for an old man, or one who has sighted old age, to have a note-book knowledge. "This is what Zeno said." But what have you yourself said? "This is the opinion of Cleanthes." But what is your own opinion? How long shall you march under another man's orders? Take command, and utter some word which posterity will remember. Put forth something from your own stock.”
Ideo pueris et sententias ediscendas damus et has quas Graeci chrias vocant, quia complecti illas puerilis animus potest, qui plus adhuc non capit. Certi profectus viro captare flosculos turpe est et fulcire se notissimis ac paucissimis vocibus et memoria stare: sibi iam innitatur. Dicat ista, non teneat; turpe est enim seni aut prospicienti senectutem ex commentario sapere. 'Hoc Zenon dixit': tu quid? 'Hoc Cleanthes': tu quid? Quousque sub alio moveris? impera et dic quod memoriae tradatur, aliquid et de tuo profer.

Seneca the Younger (-4–65 BC) Roman Stoic philosopher, statesman, and dramatist

Epistulae Morales ad Lucilium (Moral Letters to Lucilius), Letter XXXIII

Children, Books, Age, Knowledge

“I'm able to paint so nice and thick with those big splodges that stay upright because I mix my own paint. I use the formula that the seventeenth-century painters used and I've added one or two things myself. A very important element is stand oil. I once got hold of a whole barrel full and I'm still using it. There are pots of it in all my studios, in New York, in Connecticut, in Monaco, and in Tuscany. [the oil had been found when an old paint shop closed down, in a] stock that had been there since the seventeenth century... I mix my oil paint with it, and I throw in a lot of eggs and some concentrated turpentine. It's as thick as homemade mayonnaise. When it dries it is as tough and hard as rubber.”

Karel Appel (1921–2006) Dutch painter, sculptor, and poet

Quote from an interview in 'Elsevier', 22 December, 1990; translated and quoted by Frank van der Ploeg, in 'The Low Countries'. Jaargang 12 (2004) http://www.dbnl.org/tekst/_low001200401_01/_low001200401_01_0027.php

Painting

“But the capitalist idea of profitability actually becomes an economic nonsense in the branches of our economy that today rule everything, in the banking and stock-exchange system. The fact of the ruling position of the banks proves most strikingly the economic senselessness of the capitalist idea. With the ‘productions’ of the banks and stock-exchanges never yet has a child been fed, never yet has a freezing person been clothed, in general never has even the smallest requirement that is necessary for life been supplied.”

Gottfried Feder (1883–1941) German economist and politician

Source: The German State on a National and Socialist Foundation (1923), p. 28

Life, Idea, Personality, Clothes

“I suspect that in the beginning Maurice hoped that Rosy would calm down. Yet mere inspection suggested that she would not easily bend. By choice she did not emphasize her feminine qualities. Though her features were strong, she was not unattractive and might have been quite stunning had she taken even a mild interest in clothes. This she did not. There was never lipstick to contrast with her straight black hair, while at the age of thirty-one her dresses showed all the imagination of English blue-stocking adolescents. So it was quite easy to imagine her the product of an unsatisfied mother who unduly stressed the desirability of professional careers that could save bright girls from marriages to dull men. But this was not the case. Her dedicated austere life could not be thus explained — she was the daughter of a solidly comfortable, erudite banking family.
Clearly Rosy had to go or be put in her place. The former was obviously preferable because, given her belligerent moods, it would be very difficult for Maurice to maintain a dominant position that would allow him to think unhindered about DNA. Not that at times he'd didn't see some reason for her complaints — King's had two combination rooms, one for men, the other for women, certainly a thing of the past. But he was not responsible, and it was no pleasure to bear the cross for the added barb that the women's combination room remained dingily pokey whereas money had been spent to make life agreeable for him and his friends when they had their morning coffee.
Unfortunately, Maurice could not see any decent way to give Rosy the boot. To start with, she had been given to think that she had a position for several years. Also there was no denying that she had a good brain. If she could keep her emotions under control, there was a good chance she could really help him. But merely wishing for relations to improve was taking something of a gamble, for Cal Tech's fabulous chemist Linus Pauling was not subject to the confines of British fair play. Sooner or later Linus, who had just turned fifty, was bound to try for the most important of all scientific prizes. There was no doubt he was interested. … The thought could not be avoided that the best home for a feminist was in another person's lab.”

James D. Watson book The Double Helix

Description of Rosalind Franklin, whose data and research were actually key factors in determining the structure of DNA, but who died in 1958 of ovarian cancer, before the importance of her work could be widely recognized and acknowledged. In response to these remarks her mother stated "I would rather she were forgotten than remembered in this way." As quoted in "Rosalind Franklin" at Strange Science : The Rocky Road to Modern Paleontology and Biology by Michon Scott http://www.strangescience.net/rfranklin.htm The Double Helix (1968)

Life, Women, Men, Money

“Ever since grade school, when his father had shown him the stock tables at the back of the newspaper and told him that the stock market was a crooked place and never to be trusted, let alone invested in, the subject had fascinated him.”

Michael Lewis book The Big Short

Source: The Big Short (2010), Chapter Two, In the Land Of The Blind, p. 35

School

“I became a member of the RSS in my childhood days then joined the Akhil Bharatiya Vidyarthi Parishad (The BJP’s student’s wing). I am a science graduate. Till I was elected as an MLA I was a businessman. After getting into politics, I gave away my business and factory to my partners. After becoming an MLA, I am not doing any business. I have my savings and investments. I have inherited some investments in stocks and shares and I earn my living out of it.”

Amit Shah (1964) Indian politician

"Exclusive Amit Shah Interview: People are waiting to vote for Modi," 2013

Business, Science, Childhood

“Man's secret horror of his foot is one of the explanations for the tendency to conceal its length and form as much as possible. Heels of greater or lesser height, depending on the sex, distract from the foot's low and flat character. Besides the uneasiness is often confused with a sexual uneasiness; this is especially striking among the Chinese who, after having atrophied the feet of women, situate them at the most excessive point of deviance. The husband himself must not see the nude feet of his wife, and it is incorrect and immoral in general to look at the feet of women. Catholic confessors, adapting themselves to this aberration, ask their Chinese penitents "if they have not looked at women's feet.
The same aberration is found among the Turks (Volga Turks, Turks of Central Asia), who consider it immortal to show their nude feet and whoe ven go to bed in stockings.
Nothing similar can be cited from classical antiquity (apart from the use of very high soles in tragedies). The most prudish Roman matrons constantly allowed their nude toes to be seen. On the other hand, modesty concerning feet developed excessively in the modern ea and only started to disappear in the nineteenth century. M. Salomon Reinarch has studied this development in detail in the article entitled Pieds pudiques [Modest Feet], insisting on the role of Spain, where women's feet have been the object of most dreaded anxiety and thus were the cause of crimes. The simple fact of allowing the shod foot to be seen, jutting up from under a skirt, was regarded as indecent. Under no circumstances was it possible to touch the foot of a woman.”

Georges Bataille (1897–1962) French intellectual and literary figure

Source: Visions of Excess: Selected Writings 1927-1939, p.21-22

Women, Secret, Sex, Study

“The essential measure of the success of the economy is not production and consumption at all, but the nature, extent, quality, and complexity of the total capital stock, including in this the state of the human bodies and minds included in the system. In the spaceman economy, what we are primarily concerned with is stock maintenance, and any technological change which results in the maintenance of a given total stock with a lessened throughput (that is, less production and consumption) is clearly a gain. This idea that both production and consumption are bad things rather than good things is very strange to economists, who have been obsessed with tile income-flow concepts to the exclusion, almost, of capital-stock concepts.”

Kenneth E. Boulding (1910–1993) British-American economist

Source: 1960s, The Economics of the Coming Spaceship Earth, 1966, p. 9-10 as cited in: Mark W. W. McElroy, J.M.L. M. L. van van Engelen (2012) Corporate Sustainability Management.

Idea, Nature, Change, Success

“The most important thing I have done is to combine something esoteric with a practical issue that affects many people. In this spirit, the stock market is one of the most attractive things imaginable. Stock-market data is abundant so I can check everything. Financial markets are very influential and I want to be part of this field now that it is maturing.”

Benoît Mandelbrot (1924–2010) Polish-born, French and American mathematician

New Scientist interview (2004)

People, Imagination, Parting

“The stock market was created by the telegraph and the telephone, and its panics are engineered by carefully orchestrated stories in the press.”

Marshall McLuhan (1911–1980) Canadian educator, philosopher, and scholar-- a professor of English literature, a literary critic, and a …

Source: 1960s, Counterblast (1969), p. 106

“I am disappointed by that stroke of death that has eclipsed the gaiety of nations, and impoverished the public stock of harmless pleasure.”

David Garrick (1717–1779) English actor, playwright, theatre manager and producer

Samuel Johnson; carved on Garrick's memorial in Lichfield Cathedral http://www.britannica.com/shakespeare/article-2605 About

Death, Pleasure, Disappointment

“We must remember that we have not only the present but the future to safeguard; our obligations extend even to generations yet unborn. The unassimilated alien child menaces our children, as the alien industrial worker, who has destruction rather than production in mind, menaces our industry. It is only when the alien adds vigor to our stock that he is wanted. The dead weight of an alien accretion stifles national progress. But we have a hope that can not be crushed; we have a background that we will not allow to be obliterated. The only acceptable immigrant is the one who can justify our faith in man by a constant revelation of the divine purpose of the Creator.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Whose Country Is This? (1921)

Children, Faith, Hope, Future

“The double reservoir at the top shows the amount of money in the hands of individuals and available for expenditure in consumption. This is what we have previously called the consumers' fund. The reservoir is divided into two parts in order graphically to represent the fact that a large part of the money received by individuals is income, most of which is spent in consumption; while a smaller part is money received from the sale of real estate, bonds and stocks, most of which is reinvested. The two parts of the reservoir, however, are connected with pipes, in order to take account of the fact that some income is invested and some money received from the sale of securities is spent in consumption. These connecting pipes are important. We must bear in mind that they are always partly, and never wholly, clogged. By their aid, we may visualize the fact that we have no means of knowing how much of the consumers' fund actually will be spent in consumption in any given period of time.”

William Trufant Foster (1879–1950) American economist

Source: The circuit flow of money, 1922, p. 264

Money, Time, Parting

“Value stock returns are impossible to estimate using the traditional methods, because most of the excessive return arises from the slow improvement in valuations that occurs as doggy stocks become less doggy over time.”

William J. Bernstein (1948) economist

Source: The Four Pillars of Investing (2002), Chapter 2, Measuring The Beast, p. 68.

Time

“For what, in all the world, is more common than love? What state, what little town, what family lacks examples? Who, that has reached his thirtieth year, has not endured some villainy for love’s sake? I conjecture from myself whom love has sent into a thousand perils, and I thank the Gods above that I have a thousand times escaped the ambushes prepared for me; more fortunate in my star than Mars whom Vulcan took with Venus, and caught them in an iron net, and displayed them, as a laughing-stock, to the other Gods.”

Pope Pius II book The Tale of Two Lovers

Source: The Tale of Two Lovers, 1444, p. xix, preface (in 1933 edition)

Love, God, World, Family

“It’s important to understand how we got where we are today. In 1966, the unthinkable happened: a madman climbed the University of Texas clock tower and opened fire, killing more than a dozen people. It was the first mass shooting in the age of television, and it left a real impression on the country. It was the kind of terror we didn’t expect to ever see again. But around 30 years ago, we started to see an uptick in these types of shootings, and over the last decade they’ve become the new norm.
In July 2012, a gunman walked into a darkened theater in Aurora and shot 12 people to death, injuring 70 more. One of his weapons was an assault rifle. The sudden and utterly random violence was a terrifying sign of what was to come.
In December 2012, a young man entered an elementary school in Newtown and murdered six educators and 20 young children. One of his weapons was an assault rifle. Watching the aftermath of these young babies being gunned down was heartrending.
In June 2016, a gunman entered a nightclub in Orlando and sprayed revelers with gunfire. The shooter fired hundreds of rounds, many in close proximity, and killed 49. Many of the victims were shot in the head at close range. One of his weapons was an assault rifle.
Last month, a gunman opened fire on concertgoers in Las Vegas, turning an evening of music into a killing field. All told, the shooter used multiple assault rifles fitted with bump-fire stocks to kill 58 people. The concert venue looked like a warzone.
Over the weekend in Sutherland Springs, 26 were killed by a gunman with an assault rifle. The dead ranged from 17 months old to 77 years. No one is spared with these weapons of war. When so many rounds are fired so quickly, no one is spared. Another community devastated and dozens of families left to pick up the pieces.
These are just a few of the many communities we talk about in hushed tones—San Bernardino, Littleton, Aurora, towns and cities across the country that have been permanently scarred.”

Dianne Feinstein (1933) American politician

[Senators Introduce Assault Weapons Ban, November 8, 2017, w:Diane Feinstein, Diane, Feinstein, https://www.feinstein.senate.gov/public/index.cfm/2017/11/senators-introduce-assault-weapons-ban]
On the introduction of the Assault Weapons Ban of 2017

Death, War, Children, People

“This difficulty — am I a mathematician because my degree says so? Am I an engineer because I'm interested in things? Am I a social scientist because I don't think there's a difference between the turbulence in stock markets in terms of unpredictability? At IBM I wouldn't have to worry about that. The names of departments were totally strange and totally meaningless, so it looked like a promising situation for a short time. As it turned out I was going to spend thirty-five years and twelve days at IBM, almost from the beginning to the day when IBM decided that successful research was no longer going to be carried on in that division.”

Benoît Mandelbrot (1924–2010) Polish-born, French and American mathematician

Segment 44
Peoples Archive interview

Thinking, Time, Success

“(Voice on television) Mom, can a douche make you feel more confident? (Sylvia) Not like a good stock portfolio.”

Nicole Hollander (1939) Cartoonist

Source: Sylvia cartoon strip, p. 77

Feeling, Confidence, Moms

“When profit diminishes, merchants are very apt to complain that trade decays; though the diminution of profit is the natural effect of its prosperity, or of a greater stock being employed in it than before.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: (1776), Book I, Chapter IX

Nature

“The truth is I suppose that a tour lays in a great stock of thought and spirits for the future; the fatigue and drawbacks of actual travelling are forgotten and a bright residuum remains.”

Henry Liddon (1829–1890) British theologian

The Russian Journal, ed. Morton Cohen (1979), p. 10.

Truth, Travel, Future

“Those old credulities, to Nature dear,
Shall they no longer bloom upon the stock
Of history?”

William Wordsworth (1770–1850) English Romantic poet

Memorials of a Tour in Italy, iv
Bartlett's Familiar Quotations, 10th ed. (1919)

History, Nature

“It was neither healthy nor good when public stock exchanges introduced order types and speed advantages that high-frequency traders could use to exploit everyone else. This sort of inefficiency didn't vanish the moment it was spotted and acted upon. It was like a broken slot machine in the casino that pays off every time. It would keep paying off until someone said something about it; but no one who played the slot machine had any interest in pointing out that it was broken.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 233

Time, Speed

“[Hedge fund investment] is likely behind the very different behavior you are seeing in companies like HP and Apple this decade. A severe lack of new products or compelling offerings, but a lot of increases in dividends, stock buybacks, layoffs, plant closings, executive departures and divestitures. These firms aren't investing in the future they are constantly trying to assure their stock is propped up and the value increases.”

Rob Enderle (1954) American financial analyst

Is the end of the U.S. tech market upon us? http://cio.com/article/3075957/it-industry/is-the-end-of-the-u-s-tech-market-upon-us.html in CIO (27 May 2016)

Behavior, Departure, Future

“In calling for the dismantling of Soviet stocks of chemical weapons, what action will the Minister take towards countries such as Iraq which have used chemical weapons in the recent past? Will he ensure that the maximum possible sanctions are taken against them to show our abhorrence of all chemical weapons wherever they are and by whomsoever they are used?”

Jeremy Corbyn (1949) British Labour Party politician

Question http://hansard.millbanksystems.com/commons/1989/mar/07/chemical-weapons in the House of Commons (7 March 1989). 1980s

Past, Country

“Thomas Jefferson never entertained the folly that he was of immigrant stock. He considered the English settlers of America courageous conquerors, much like his Saxon forebears, to whom he compared them. To Jefferson, early Americans were the contemporary carriers of the Anglo-Saxon project.”

Ilana Mercer South African writer

" The Declaration of Independence No Longer Expresses the American Mind http://www.americanthinker.com/articles/2017/07/the_declaration_no_longer_expresses_the_american_mind.html," American Thinker, July 4, 2017 2010s, 2017 Variant: Thomas Jefferson never entertained the folly that he was of immigrant stock. He considered the English settlers of America courageous conquerors, much like his Saxon forebears, to whom he compared them. To Jefferson, early Americans were the contemporary carriers of the Anglo-Saxon project.

Courage

“When he halted near Kumbhalmîr which was a very big fort of that province, and well-known for its strength all over Hindustãn, Devã the Vakîl of the Governor of Kumbhã took shelter in the fort and started fighting. It so happened that a magnificent temple had been erected in front of that fort and surrounded by ramparts on all sides. That temple had been filled with weapons of war and other stores. Sultãn Mahmûd planned to storm the ramparts and captured it [the temple] in a week. A large number of Rajpûts were made prisoners and slaughtered. About the edifices of the temple, he ordered that they should be stocked with wood and fired, and water and vinegar was sprinkled on the walls. That magnificent mansion which it had taken many years to raise, was destroyed in a few moments. He got the idols broken and they were handed over to the butchers for being used as weights while selling meat. The biggest idol which had the form of a ram was reduced to powder which was put in betel-leaves to be given to the Rajpûts so that they could eat their god.”

Nizamuddin Ahmad (1551–1594) historian

Sultãn Mahmûd Khaljî of Malwa (AD 1436-1469) Kumbhalgadh (Rajasthan)
Tabqãt-i-Akharî

God, War, Water, Fight

“My family were of good English peasant class from St. John's Wood. My father dealt in stocks and shares and my mother also had a lot of time on her hands.”

Hermione Gingold (1897–1987) English actress

The World is Square [her autobiography], Pt. I. Pub. 1945 by Home & Van Thal Ltd.

Family, Time

“He treats people as objects for manipulation.One part of this orientation was cogently expressed by Dorothy Schiff, one-time owner, publisher and sole stock holder of the New York Post, and for many years one of America's most powerful women. In a published interview she commented, "Most people to me are nothing but personnel problems."Discussing her personal life, she commented, "Unforeseen problems always arise in my marriages. Maybe very common problems, but they always take me by surprise." When the interviewer asked her what sort of problems she was referring to, she replied, "That the other person has needs …"”

Herb Goldberg (1937–2019) American psychologist

The "Secrets" of Success, pp. 41–42
The New Male (1979)

Life, Women, Marriage, People

“When I asked Amin [Husain] and Katie [Davison] what Occupy Wall Street’s ultimate goal was, they said, “A government accountable to the people, freed up from corporate influence.” … Organizers described Occupy Wall Street as “a way of being,” of “sharing your life together in assembly.” … The ambitions of the core group of activists were more cultural than political, in the sense that they sought to influence the way people think about their lives. “Ours is a transformational movement,” Amin told me with a solemn air. Transformation had to occur face to face; what it offered, especially to the young, was an antidote to the empty gaze of the screen.
In meetings and elsewhere, this Tolstoyan experience of undergoing a personal crisis of meaning, both political and of the soul, seemed deeply shared. Apart from Amin, I’ve met an architect, a film editor, an advertising consultant, an unemployed stock trader, a spattering of lawyers, and people with various other jobs who, after joining OWS, found themselves psychologically unable to go about their lives as before. … Michael Ellick, the minister at Judson Memorial Church in Greenwich Village, said that when he first visited Zuccotti Park he was reminded of his years at a monastery. “When people enter a monastery, they don’t know why they’ve come,” said Ellick. “They are there to find out why they are there, why they were compelled to leave the other world.””

Michael Greenberg (1952) American author

“What Future for Occupy Wall Street?” The New York Review of Books, vol. 59, no. 2, February 9, 2012

Life, People, World, Way

“[H]e was genuinely incapable of uttering a single sentence that was not a cliché. […] Eichmann, despite his rather bad memory, repeated word for word the same stock phrases and self-invented clichés (when he did succeed in constructing a sentence of his own, he repeated it until it became a cliché) each time he referred to an incident or event of importance to him. […] The longer one listened to him, the more obvious it became that his inability to speak was closely connected with an inability to think, namely to think from the standpoint of somebody else. No communication was possible with him, not because he lied but because he was surrounded by the most reliable of all safeguards against the words and the presence of others, and hence against reality as such.”

Hannah Arendt book Eichmann in Jerusalem

Source: Eichmann in Jerusalem (1963), Ch. III.

Communication, Thinking, Reality, Memory

“Of all the mind tools we acquire in the course of furnishing our brains from the stockpiles of culture, none are more important, of course, than words — first spoken, then written. Words make us more intelligent by making cognition easier, in the same way (many times multiplied) that beacons and landmarks make navigation in the world easier for simple creatures. Navigation in the abstract multidimensional world of ideas is simply impossible without a huge stock of movable, memorable landmarks that can be shared, criticized, recorded, and looked at from different perspectives.”

Daniel Dennett (1942) American philosopher

Kinds of Minds (1996)

World, Way, Intelligence, Idea

“In fact, of all hoodoos in Wall Street I think the resolve to induce the stock market to act as a fairy godmother is the busiest and most persistent.”

Edwin Lefèvre book Reminiscences of a Stock Operator

Source: Reminiscences of a Stock Operator (1923), Chapter XII, p. 149

Thinking

“The finance conception of the modern corporation, which currently dominates, emphasizes control through the use of financial tools which measure performance according to profit rates. Product lines are evaluated on their short-run profitability and important management decisions are based on the potential profitability of each line. Firms are viewed as collections of assets earning differing rates of return, not as producers of given goods. The firm is not seen as being a member of only one industry. Consequently if the prospect of an industry in which it participates declines, the firm disinvests. The problem for management from this perspective is to maximize short-run rates of return by altering product mix, thereby increasing shareholder equity and keeping the stock price high”

Neil Fligstein (1951) American sociologist

Source: The transformation of corporate control, 1993, p. 15

Problem, Decision

“Three classes inhabited the city (Alexandria in Egypt): first the Aegyptian or native stock of people, who were quick-tempered and not inclined to civil life; and secondly the mercenary class, who were severe and numerous and intractable…; and, third, the tribe of the Alexandrians, who also were not distinctly inclined to civil life, and for the same reasons, but still they were better than those others, for even though they were a mixed people, still they were Greeks by origin and mindful of the customs common to the Greeks.”

Strabo Geographica

17.1.12-13
Geographica, 7 BC

Life, People

“The inductive-reasoning system I have described above consists of a multitude of “elements” in the form of belief-models or hypotheses that adapt to the aggregate environment they jointly create. Thus it qualifies as an adaptive complex system. After some initial learning time, the hypotheses or mental models in use are mutually co-adapted. Thus we can think of a consistent set of mental models as a set of hypotheses that work well with each other under some criterion—that have a high degree of mutual adaptedness. Sometimes there is a unique such set, it corresponds to a standard rational expectations equilibrium, and beliefs gravitate into it. More often there is a high, possibly very high, multiplicity of such sets. In this case we might expect inductive reasoning systems in the economy—whether in stock-market speculating, in negotiating, in poker games, in oligopoly pricing, in positioning products in the market—to cycle through or temporarily lock into psychological patterns that may be non-recurrent, path-dependent, and increasingly complicated. The possibilities are rich.”

W. Brian Arthur (1946) American economist

Source: Inductive Reasoning and Bounded Rationality (The El Farol Problem) (1994), p. 8

Game, Thinking, Learning, Time

“The worker is by nature less imaginative, more level-headed than the capitalist. This is what prevents his becoming one. He is content with small gains. Trade Union officials think about the petty cash; the employer speculates in millions. You can see the difference in their representative institutions. There is no scheme too wild, no rumour too absurd, to be without repercussions on the Stock Exchange. The public house is the home of common sense.”

A.J.P. Taylor (1906–1990) Historian

"Dissenting Rivals: Urquhart and Cobden", p. 55
The Trouble Makers: Dissent over Foreign Policy, 1792-1939 (1957)

Home, Imagination, Nature, Thinking

“The true investor scarcely ever has to sell his shares, and at all other times he is free di disregard the current price quotation. He need pay attention to it and act upon it only to the extent that it suits his book, and no more. Thus the investor who permits himself to be stampeded or unduly worried by unjustified market declines in his holdings is perversely transforming his basic advantage into a basic disadvantage. That man would be better off if his stocks had no market quotation at all, for he would then be spared the mental anguish caused him by other persons mistakes of judgement.”

Benjamin Graham (1894–1976) American investor

Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 40

Books, Time, Personality

“To listen to Mr. Engelbart that day almost five years ago was to realize that the computer industry, when it started, was not simply about becoming a chief executive or retiring on stock options at 35. It was to remember that real innovation — the stuff that made computers so much more than "crummy factors of production" — comes from mysterious places, wild people, dreamers and tinkerers, and to remember all the skepticism they had to endure.”

Ellen Ullman (1949) American writer

People

“but then I remembered how crass it is to talk money or stocks with university types.”

Andy Kessler (1958) American writer

Part VII, The Margin Surplus, Ghana a Goner, p. 281.
Running Money (2004) First Edition

Money, Universe

“The relationship that in our time unites us with Money is completely abstract. That’s where our society resembles to the one in the Middle Ages: we fear a symbolic and invisible entity, like men feared God thousands of years ago. The stock exchange changes without our participation. Between the stock and us there’s a theology of money called “economy” that, in general, is in charge of rationally explaining something that doesn’t have more reason than it’s symbolic power.”

Jorge Majfud (1969) Uruguayan-American writer

"Teología del dinero" http://www.bitacora.com.uy/articulos/2002/noviembre/98/98general.htm Bitácora, magazine, La República, Uruguay (13 November 2002)

Men, Money, God, Age

“The Information Age is unfolding just as predicted by many of the sociological prognosticators of this century. Information issues are on everyone’s mind and on multitudes of lips. It is hard to pick up a newspaper or current affairs magazine without seeing a feature on the internet, web pages, e-mail, television terminals or some other new technology. In fact, technology innovation is relentless and escalating and technology stocks continually drive the stock market to high after high. There is no field of human endeavor that is exempt from the onslaught of information technology.”

John Zachman (1934) American computer scientist

Source: Enterprise Architecture: The Issue of The Century, 1997, p. 1

Age

“As a nation we grumble, we never worry, and the more difficult times are, the more cheerful we become. Indifferent we may be in many ways to what is going on in the world outside, but this indifference is soon shed in times of difficulty. We are always serene in times of difficulty. We are not a military nation, but we are great fighters—as we ought to be, from the stock of which I have told you. We have staying power, we are not rattled. I remember being very amused and rather pleased by a writer in The Times, who said that my spiritual home was in the last ditch. If that be so, I shared that ditch with most of my fellow-countrymen.”

Stanley Baldwin (1867–1947) Former Prime Minister of the United Kingdom

Broadcast from London (25 September 1933), quoted in This Torch of Freedom (1935), p. 13.
1933

World, Way, Home, Time

“When someone pukes up a stock, it's not hard to miss. Mispriced securities all over the table. And we are there with a barf bag, collecting all we can.”

Andy Kessler (1958) American writer

Part I, Raising Funds, Making Your Month, p. 33.
Running Money (2004) First Edition

“The most reliable and best armed groups of the mass of revolutionary contingents organised to take extreme measures to overcome the famine shall be detailed for dispatch to all stations and all uyezds of the principal grain supplying gubernias. These groups, with the participation of railwaymen delegated by local railway committees, shall be authorised, firstly, to control the movement of grain freights; secondly, take charge of the collection and storage of grain; thirdly, adopt the most extreme revolutionary measures to fight speculators and to requisition grain stocks. When making any record of requisition, arrest or execution, the revolutionary contingents shall summon at least six witnesses to be selected from the poorest section of the population closest at hand.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

“Meeting of the Presidium of the Petrograd Soviet With Delegates From the Food Supply Organisations” (27 January 1918); Collected Works, Vol. 26, p. 503.
1910s

Fight

“Thanks to technology, what almost anybody can do has been multiplied a thousandfold, and our moral understanding about what we ought to do hasn't kept pace. … You can have a test-tube baby or take a morning-after pill to keep from having a baby; you can satisfy your sexual urges in the privacy of your room by downloading Internet pornography, and you can keep your favorite music for free instead of buying it; you can keep your money in secret offshore bank accounts and purchase stock in cigarette companies that are exploiting impoverished Third World countries; and you can lay minefields, smuggle nuclear weapons in suitcases, make nerve gas, and drop "smart bombs" with pinpoint accuracy. Also, you can arrange to have a hundred dollars a month automatically sent from your bank account to provide education for ten girls in an Islamic country who otherwise would not learn to read and write, or to benefit a hundred malnourished people, or provide medical care for AIDS sufferers in Africa. You can use the Internet to organize citizen monitoring of environmental hazards, or to check the honesty and performance of government officials — or to spy on your neighbors. Now, what ought we to do?”

Daniel Dennett book Breaking the Spell: Religion as a Natural Phenomenon

Breaking the Spell (2006)

Money, People, Secret, World