Historic Quote Made This Week

“We will not have any more stock market crashes in our time.” ~ John Maynard Keynes in 1927, two years before the stock market crash which lead to the Great Depression.

“Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as they have predicted. I expect to see the stock market a good deal higher within a few months.” ~ Dr. Irving Fisher, October 17, 1929, a few weeks before the Great Crash, Dr. Irving Fisher was Professor of Economics at Yale University. Dr. Fisher was one of the leading US economists of his time.

“There will be no interruption of our permanent prosperity.” ~ Myron E. Forbes, President, Pierce Arrow Motor Car Co., January 12, 1928

By the way, has anyone heard of the Pierce Arrow Motor Car Company? You have not? Well, that is because they went bankrupt during the Great Depression.

In 10 years from now, we will likely be adding Janet Yellen to the list of educated idiots who made historically stupid quotes because they lacked the foresight to see what history should have taught them.

“Another financial crisis not likely in our lifetime…due to my supervision, the banking system is very much stronger.” ~ Janet Yellen, June 27, 2017


About avirginiapatriot1776

I hope we have once again reminded people that man is not free unless government is limited. There’s a clear cause and effect here that is as neat and predictable as a law of physics: as government expands, liberty contracts. — Ronald Reagan
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