QUOTES OF THE DAY – PANIC EDITION

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.”

Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

“In reading The History of Nations, we find that, like individuals, they have their whims and their peculiarities, their seasons of excitement and recklessness, when they care not what they do. We find that whole communities suddenly fix their minds upon one object and go mad in its pursuit; that millions of people become simultaneously impressed with one delusion, and run after it, till their attention is caught by some new folly more captivating than the first.”

Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

“Nations, like individuals, cannot become desperate gamblers with impunity. Punishment is sure to overtake them sooner or later.”

Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

“Of all the offspring of Time, Error is the most ancient, and is so old and familiar an acquaintance, that Truth, when discovered, comes upon most of us like an intruder, and meets the intruder’s welcome.”

Charles Mackay

“In February 1720 an edict was published, which, instead of restoring the credit of the paper, as was intended, destroyed it irrecoverably, and drove the country to the very brink of revolution…”

Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds


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Billy
Billy

Here Comes “Prexit”: Puerto Rico In “Death Spiral”, Debts Are “Not Payable”, Governor Refuses To “Kick The Can”

http://www.zerohedge.com/news/2015-06-28/here-comes-prexit-puerto-rico-death-spiral-governor-says-debts-are-not-payable-refus?page=1

Tim
Tim

What a shame for Puerto Rico.
Such a beautiful country and beautiful people.
And, delicious food!

It’s really a tragedy to see this happen to them.

robert h siddell jr
robert h siddell jr

The difference between Greece and PR and US is “we” print dollars but that will not save US because so many dollars have been printed and piled up in safes over the last 6 years that your few measly dollars will deflate by 500% or more pretty soon (months to a year). In fact, Greece will be a safer place to be once the US urban jungles burn down and the Socialist savages fan out looking for White American bush-meat (Long Pork). PS: This is not a joke. Screw any liberal bias against guns or you might get served by Communism not as a good citizen but as barbecue.

Iska Waran
Iska Waran

Greece and Puerto Rico will be fine. Are their creditors going to foreclose and take their land? No. They should both just repudiate all of their debt and refuse to pay anything. Let that be a lesson. Neither a borrower not a lender be – especially if there’s no collateral that can be confiscated.

Rise Up
Rise Up

What a beautiful Monday in Northern Virginia…yet, economic gloom and doom permeate the news.

Stop the world…I want to get off.

https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcTqaS-H5uv0EZklu6kTKaqK_b-39Q7bTm9jTvj99pSvh0FPGA6v

Rise Up
Rise Up

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