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"Bernanke and company are trying to reflate the economy with almost stated objective of inflation at 2 percent and higher in order to provide some type of safety margin for a future recession. That's where they want to go."
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"Pico Mundo is a prosperous town. But no degree of prosperity can be sufficient to eliminate all misfortune, and sloth is impervious to opportunity."

"Belonging to the working class is the economy's punishment for those who did what they were told to do in class."

"The world economy would collapse if a significant number of people were to realize and then act on the realization that it is possible to enjoy many if not most of the things that they enjoy without first having to own them."

"Not every single broke and unemployed person needs a job, some need customers."

"Civilization transformed man from a food gatherer to a gatherer of pieces of paper: diplomas, employment contracts, money, etc."
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"Human nature means that institutions at some point lose their sense of mission. That sense of vulnerability drives Pimco."

"Americans now know that housing prices can go down and they can go down by 10, 20, 30, and in some cases, 40 or 50 percent. We know they can go down. But five years ago, we thought they could only go up."

"Bernanke and company are trying to reflate the economy with almost stated objective of inflation at 2 percent and higher in order to provide some type of safety margin for a future recession. That's where they want to go."
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