Paul Nolte Quotes on Idea (2 Quotes)

Hickel Karl Marx's key error is the idea that capitalism develops according to laws, that these laws are described by the tendency of the profit rate to drop, and that in the long run the system must collapse. This hypothesis has proven to be wrong, because capitalism has repeatedly found new ways of dealing with its crises. Through this inevitability of capitalism, Marx underestimates the need for political shaping. ... Marx fundamentally underestimated the nature of liberal democracy, he didn't comprehend liberal democracy. Concepts such as tolerance, civil rights and liberties, parlamentarianism - all these categories went totally unrecognised by Marx, and that had fatal consequences.

Right now sentiment is all loaded on one side of the market. It gives you the idea we're running late in the game -- we may be in the process of putting in a short-term top in the market.