The Federal Reserve... is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.
Too many of our prejudices are like pyramids upside down. They rest on tiny, trivial incidents, but they spread upward and outward until they fill our minds.
Our purpose is to lean against the winds of deflation or inflation, whichever way they are blowing.
What's good for the United States is good for the New York Stock Exchange. But what's good for the New York Stock Exchange might not be good for the United States.
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