economic speculation Quotes

There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.

Economists are about as useful as astrologers in predicting the future (and, like astrologers, they never let failure on one occasion diminish certitude on the next).

Economics was the only profession where a person could be considered an expert without having once been right.

Economics, over the years, has become more and more abstract and divorced from events in the real world. Economists, by and large, do not study the workings of the actual economic system. They theorize about it. As Ely Devons, an English economist, once said in a meeting: 'If economists wanted to study the horse, they wouldn't go around and look at horses. They'd sit in their studies and say to themselves, 'What would I do if I were a horse?' '

It is capitalism, not Marxism, that trades in futures.

The communism of Marx seeks a strong state centralization, and where this exists, there the parasitic Jewish nation - which speculates upon the labor of people - will always find the means for its existence.

Every bubble has two components: something - some real trend, and a misconception about that trend.

An economist is a man that can tell you...what can happen under any given condition, and his guess is liable to be as good as anybody else's too.

The only thing that we know about financial predictions of start-ups is that 100 percent of them are wrong

It seems that neither the Keynesian nor the Marxian prognosis of the future of capitalism is being fulfilled and we are left without any particular theory as to what will happen next.

When you see reference to a new paradigm you should always, under all circumstances, take cover. Because ever since the great tulipmania in 1637, speculation has always been covered by a new paradigm. There was never a paradigm so new and so wonderful as the one that covered John Law and the South Sea Bubble - until the day of disaster.