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Danielle DiMartino Booth’s Followers (17)
Danielle DiMartino Booth
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Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
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Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
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“I preferred Warren Buffett’s definition: “It’s like most trends—at the beginning it’s driven by fundamentals; in the end, by speculation. It’s just like the old adage: ‘What the wise man does in the beginning, the fool does in the end.’” By all measures of the data, the fools had piled in.”
― Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
― Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
“Economist John Kenneth Galbraith in 1978 famously predicted that General Motors so dominated the auto business that other companies would be foolish to try to compete. At the time, the unionized GM held 46 percent of the market. But other auto companies eroded its dominance over the next three decades. In 2008, GM was rescued with a government bailout. By 2014, the auto giant commanded just 17 percent of the market.”
― Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
― Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
“The Economist wrote that the Fed was “taking the unprecedented (and, some say, disturbing) step of financing up to $30 billion of Bear’s weakest assets. This could cost the central bank several billion dollars if those assets fall in value.”
― Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
― Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
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