_Economy and Finance

Greed is good. - Gordon Gekko , Wall Street(1987)

The hardest thing in the world to understand is the income tax. - Albert Einstein (1879-1955)

It is JPMorgan's responsibility to "stay actively engaged" in policy debates that will affect our company" and that doing so is a "constitutional right." You read constantly that banks are lobbying regulators and elected officials as if this is inappropriate. We don't look at it that way. - Jamie Dimon , JPMorgan Chase CEO, in his annual letter to shareholders, April 4, 2012 http://money.cnn.com/2012/04/04/news/economy/jamie-dimon-lobbying/index.htm http://finclip.blogspot.com/2012/04/cnnmoney-jamie-dimon-lobbying-is-good.html

But the result of the financial reform has not been intelligent design. Simplicity, clarity and speed would be better for the system and better for the economy. - Jamie Dimon , JPMorgan Chase CEO http://www.bloomberg.com/news/2012-04-04/dimon-rails-against-contrived-and-confusing-rules.html http://finclip.blogspot.com/2012/04/bloomberg-dimon-letter-derides.html

He(Jamie Dimon)’s combative by nature. And like a lot of these alpha dogs, when he’s backed into a corner, he’s going to bark back. - Michael Driscoll , visiting professor at Adelphi University in Garden City, New York. http://www.bloomberg.com/news/2012-04-04/dimon-rails-against-contrived-and-confusing-rules.html http://finclip.blogspot.com/2012/04/bloomberg-dimon-letter-derides.html

I think that people should own some gold and I think that people should own some equities, because before the collapse will happen, with Mr. Bernanke at the Fed, they're going to print money and print and print and print. So what you can get is a bad economy with rising equity prices. - Marc Faber , in CNBC, 04/02/2012 CNBC: 'Massive Wealth Destruction' Is About to Hit Investors: Faber

Somewhere down the line we will have a massive wealth destruction that usually happens either through very high inflation or through social unrest or through war or credit market collapse. Maybe all of it will happen, but at different times. - Marc Faber , in CNBC, 04/02/2012

I suppose the world will always develop but that we will always have periods where we have wars and tremendous wealth destruction, or where we have plague and where the population shrinks. I am optimistic about certain issues and pessimistic about others. - Marc Faber , interview with the Daily Bell, 06/26/2011 Daily Bell: Marc Faber on 21st Century Investing, Why It's Too Late for the Dollar and Why Emerging Markets Look Good

Economics is a very complex system and is essentially human life and the behavior of humans. So to build one theory around it is probably wrong. - Marc Faber , interview with the Daily Bell, 06/26/2011 Daily Bell: Marc Faber on 21st Century Investing, Why It's Too Late for the Dollar and Why Emerging Markets Look Good

I think that interest rates in time will be much higher because the fiscal deficit will stay very elevated or even increase and that will impair the ability of the government to pay the interest. If the ability to pay the interest is impaired, there's only one way out and that is for them to print money, and so eventually you will get higher interest rates. - Marc Faber , interview with the Daily Bell, 06/26/2011 Daily Bell: Marc Faber on 21st Century Investing, Why It's Too Late for the Dollar and Why Emerging Markets Look Good