By Edward Angly, copyright 1931

 

 

 

A Calendar for 1931

 

JANUARY

The American business man is getting his tail feathers off the ground.—Louis K. Liggett, Republican National Committee.

FEBRUARY

The bottom has now been reached.—Roy A. Young, Federal Reserve Bank of Boston.

MARCH

The long decline has at last been halted.—Dr. Julius Klein, Assistant Secretary of Commerce.

APRIL

Business has turned the corner.—Roger W. Babson.

MAY

Big attendance at race meetings is one of the best indications of improving business conditions.—Stuyvesant Peabody, Illinois Turf Ass’n.

JUNE

Much of the present crepe-hanging should be historical....  In July, up we go.—Dr. Julius Klein.

JULY

A level of resistance is being reached.—Bradstreet’s.

AUGUST

Angels, looking down, probably pay little attention to our difficulties.—Arthur Brisbane.

SEPTEMBER

The glow of righteous satisfaction that many have felt in their recent savings should be replaced by the knowledge that thrift under certain conditions is very wasteful.—William Trufant Foster, Economist.

OCTOBER

The overliquidated prices of many securities are a sign of too short perspective and too excitable temperament.—Charles M. Schwab.

NOVEMBER

?

DECEMBER

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A Calendar for 2008

JANUARY

In other words, this is a resilient economy, because we rely on the free enterprise system.  Our economy is flexible, it motivates people to take risks.—George W. Bush

FEBRUARY

I don’t want to absolve the banks from their mistakes; my point is simply that the central banks created the circumstances where they, and the borrowers, were likely to make mistakes, and regulators then failed to curb them.—Hamish McRae, The Independent, “Don’t worry: when the regulators are fretting, things are returning to normal.”

[Yes, once again “mistakes,” and the minimization of them, that were along the same self-serving and dodgy lines as those described by that Independent headline:]

 

MARCH

Those of us who look to the self-interest of lending institutions to protect shareholder equity have to be in a state of shocked disbelief.  But I hope that one of the casualties will not be reliance on counterparty surveillance, and more generally financial self-regulation, as the fundamental balance mechanism for global finance.—Alan Greenspan

APRIL

Out: Recession. In: Expansion.  That’s my quick take on today’s first-quarter gross domestic product number, which showed that the economy grew 0.6 percent in the first quarter.  Now that’s not a robust number by any means, but it’s not so bad given all the worry out there that the economy is headed off a cliff.  Before you declare a recession, as many economic pundits have, shouldn’t the economy, well, actually recess a bit—if only for a quarter?James Pethokoukis, US News and World Report

MAY

...this economy is going to come on.  I’m confident it will.—George W. Bush

JUNE

The worst is over in the financial crisis or will be very soon.—Alan Greenspan

JULY

...most of the major institutions are profitable except for their write-offs on subprime.  If we can get through this period, I think we’ll see a quick recovery.—Former Senator Phil Gramm

AUGUST

“If you can sell scrap metal,” Bear [Stearns] lore quotes Greenberg telling Cayne, “you can sell bonds.”—Vanity Fair

SEPTEMBER

Paulson came to Washington two years ago thinking he could reform Social Security and perhaps the tax system, as well.  In the process, he hoped to clean up the federal budget books, maintain an open trading system, and persuade China to take on a more flexible currency and reform its own banking system.  But history can be a cruel master, and Paulson’s agenda was completely altered by one of the worst financial crises in American history.—Lawrence Kudlow

           

OCTOBER

The fact is that the media has distorted and blown this out of proportion, because the media and the politicians are playing into people’s fears for their own self-serving purposes.—unidentified male attending a Wall Street party, on CNN’s program Fall of the Fat Cats

NOVEMBER

Well, I think, first of all, let’s admit that virtually everyone has failed to predict what’s going on here.Carly Fiorina, former economic advisor, McCain campaign, on Larry King Live

[If people tend to prize and insist on an ideology that says that if you underestimate the dangers, you’re optimistic, pro-freedom. etc....]

DECEMBER

At an earlier hearing, the minority released a report that called Fannie and Freddie “the central cancer of the mortgage market, which has now metastasized into the current financial crisis.”  The next day, John McCain made a similar statement during a presidential debate in Nashville, stating that “Fannie and Freddie were the catalysts, the match that started this forest fire.”

The documents do not support these assertions.  The CEOs of Fannie and Freddie made reckless bets that led to the downfall of their companies.  Their actions could cost taxpayers hundreds of billions of dollars.  But it is a myth to say they were the originators of the subprime crisis.  Fundamentally, they were following the market, not leading it.—Rep. Henry A. Waxman, Opening Statement in Hearing on Fannie Mae and Freddie Mac

We don’t have the luxury of a negative thought right now.—Christina Applegate

 

 

 

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 Home Page

 About Us, Introduction

About Us, the Summary

 About Us, Index

My Story

  To The [Abuse] Survivors ♥♥♥♥♥

Men Dying for Love

On Doping

Index of “Oh, Yeah?

Victim Correction as a Panacea, the Summary (Top of Page 1)

(Page 2)(Main Page 3)

Cancer Victims Corrected Too

The Main Victim Correction as a Panacea

 Documentation On the Social Problem of Unnaturally Rampant Depression

 Standard Rationales for Victim Correction as a Panacea

 Schopenhauer on Predators

 Emphasis on Victim-Self-Blaming

Darwinist Lehman Brothers’ INSIDE Sales Tips

Darwinist Lehman Brothers’ INSIDE Introduction to Management Book

Out of the Same Mold as the Great Crash of 2008

Message for Intellectuals in the Islamic World

Candace Newmaker’s Experience

Breaking Important Confidences for Your Own Good

A Glimpse Into the Soul of Victim Correction

Cigarette Industry and Victim Correction

Niebuhr’s Ideas on Our Nature and Destiny

Herbal Experiences for Women

Some Ideas for Rapport

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