Economic theory demonstrates that only governmental inflation can generate a boom and bust cycle, and that the depression will be prolonged and aggravated by inflationist and other interventionary measures. In contrast to the myth of laissez-faire, we have shown how government intervention generate the unsound boom of the 1920s, and how Hoover’s new departure aggravated the Great Depression by massive measures of interference. The guilt for the Great Depression must, at long last, be lifted from the shoulders of the free market economy, and placed where it properly belongs: at the doors of politicians, bureaucrats, and the mass of “enlightened” economists. And in any other depression, past or future. the story will be the same. (Rothbard, America’s Great Depression p. 295)
Is Sears the Next Berkshire Hathaway?
A good article about not overpaying for assets.
It’s fair to blame Lampert for making what was, in effect, a major real estate investment near the peak of the biggest real estate bubble in American history. But investors frustrated by watching the share price fall by more than 80 percent from its 2007 highs have no one to blame but themselves. Anyone who bought Sears when it traded for nearly $200 per share clearly didn’t do their homework. They instead were hoping to ride Lampert’s coattails while somehow ignoring the value investor’s core principle of maintaining safety by not overpaying for assets.
I abhor guns of any kind and think it is outrageous that Americans should want the right to defend themselves. How dare this woman seek to carry a gun. Doesn’t everyone know that the government will protect us.
2 responses to “Avalanche!”