If you put a ten dollar bill under the rug instead of spending it, that is capital formation. It represents ten dollars' worth of something that might have been immediately consumed, but wasn't.
More Quotes from Garet Garrett:If the great Government of the United States were a private corporation no bank would take its name on a piece of paper, because it has cynically repudiated the words engraved upon its bonds.
This is the problem for which revolutionary theory has yet to find the right solution, if there is one. The difficulty is that the economic interests of the two classes are antagonistic.
There was endless controversy as to whether the acts of the New Deal did actually move recovery or retard it, and nothing final could ever come of that bitter debate because it is forever impossible to prove what might have happened in place of what did.
The winds that blow our billions away return burdened with themes of scorn and dispraise.
The spectacle of a great, solvent government paying a fictitious price for gold it did not want and did not need and doing it on purpose to debase the value of its own paper currency was one to astonish the world.
The New Deal's enmity for that system of free and competitive private enterprise which we call capitalism was fundamental.
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I once saw a lump of Greenland breaking off into the sea and moving south, which of course will affect the atmosphere and us generally, and it'll happen more and more.
The public be damned.
William Henry Vanderbilt
The war correspondent has his stake - his life - in his own hands, and he can put it on this horse or that horse, or he can put it back in his pocket at the very last minute.