Peter Schmidt (The 92ers)
@The92ers
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Who caused the financial crisis? The confederacy of dunces! See the list of these 50 people as well as a look at the causes of the crisis. https://t.co/unkGS7EQSt
Sugar Land, TX
Joined May 2018
True dat! https://t.co/A7Zpjo2kXA
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"Choose now what you would wish to have chosen at life's end." St. Anthony Mary Claret https://t.co/zqxhoNLjHg
“Ask yourself who you would want to spend the last day of your life with and then meet with them as often as you can.” This one stuck with me. Incredible advice from Warren Buffett
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Jessie Livermore, 'when right, sit tight.' https://t.co/lJkXWxvqgm
“Most successful investors do nothing most of the time. Do not confuse movement with action. Know when to sit and wait.” - Jim Rogers
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Wilhelm Ropke on the prerequisites markets require; markets are unable to spontaneously generate them... https://t.co/mO3L1FuTFB
Hayek was asked to leave “a statement for the future generations.” His response is brilliant: “Modern civilization which enables us to maintain 4 billion people was made possible by the institution of private property. It is only thanks to this institution that we achieved an
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Bernanke March 2010 A driver behind QE was to make the rich richer and generate a wealth effect. His words, not mine. https://t.co/AexOsI8QQS
Scott Bessent on the Federal Reserve: "QE led to a two-tier economy, where either you were an asset holder or you were left behind. I called the Fed the ‘engine of inequality’."
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The best economic performance of the depression era perfectly coincides with the central planning endemic to the New Deal being declared unconstitutional (Schechter Poultry case) https://t.co/dnjvBONncU
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Only thing that explains the US getting involved in WWI is to protect loans made by American banks to England and France. It's exactly why William Jennings Bryant resigned as Secretary of State. https://t.co/rs12KyIKgd
🚨BREAKING NEWS🚨 🔥🇪🇺🏦🇭🇺🔥HUNGARY REVEALS WHY BRUSSELS IS ESCALATING: “EUROPEAN BANKERS WANT WAR — TO RECOVER LOSSES FROM FAILING TO DEFEAT RUSSIA.” Budapest — Hungary has issued one of the most explosive accusations yet against the leadership of the European Union, directly
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It goes back further than 2020. For decades wealth was being more evenly distributed - which is exactly what should happen with the division of labor. That benevolent development ceased in the immediate aftermath of 15 AUG 1971. https://t.co/o9RMXQRHUp
Yours truly on the US Federal reserve : “At the start of 2020, billionaires’ wealth was 14.1% of GDP. Now it’s 22.7%. The biggest creator of income inequality in the United States is the Federal Reserve.” THE FED = AN ENGINE OF INCOME INEQUALITY.
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"Democracy is two wolves and a lamb voting on what to have for lunch." Benjamin Franklin https://t.co/A0370lsBJ6
“We would all like to see government spending go down, provided it is not spending that benefits us. We would all like to see deficits reduced, provided it is through taxes imposed on others.” — Milton Friedman
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To liberate this village, we had to destroy it. https://t.co/vw72RDh4m1
So much love across other platforms for this clip saying that the rise of right wing authoritarianism and white nationalistic hate movements need to end in 2026 🇨🇦
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The most important pedal when it comes to the creation of money is the brake, not the accelerator. The world is waking up to what happens when there isn't a meaningful brake anymore. https://t.co/DEHSugGvNQ
Forget about a recession Ray Dalio “We have something much more profound” We are having a breaking down of monetary order We are having profound changes of our domestic order We are having profound changes in the world order
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For the average person, all problems date to World War II; for the more informed, to World War I; for the genuine historian, to the French Revolution. Erik von Kuehnelt-Leddihn
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There's Friedman, but also Hans Sennholz; The fallacy of the government owning something that is not derived from its subjects... https://t.co/dTigqORl7L
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Friedman's passionate arguments extolling the free market are to be applauded. However, he insisted government have complete control over money, thus ensuring the free market he desired would never come into existence. https://t.co/XfDcDiJxSc
“Nowhere is the gap between rich and poor wider, nowhere are the rich richer and the poor poorer, than in those societies that do not permit the free market to operate.” — Milton Friedman
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At one time - before it became riddled with ridiculous mathematics and charts - economics was considered a moral philosophy. As Ropke states, capitalism relies on a moral foundation. Capitalism is unable to create this moral foundation. https://t.co/LgH3JZXRIu
Your professor says capitalist theory is based on "pure selfishness and greed." Actually, the father of capitalism despised greed. He wrote an entire book explaining why societies collapse without sympathy, trust, and moral foundations. Here's the Adam Smith they refuse to
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Fed purchasing assets again? But here's Ben Bernanke in March 2010, telling Congress the Fed will get the balance sheet back under $1-trillion. (1:04 mark) #ENDTHEFED
https://t.co/yVHlMypFmR
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Yukon, Yukon. What is the latest from the silver pits? How about those silver miners? #silversqueez #silver
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The people at the time didn't feel that way. In the 1938 election, New Deal parties lost almost as many house seats as the Republicans did in 1932. https://t.co/yX8IgzIeuH
If you really want to know whether or not FDR’s policies helped end the Great Depression, one of the @WSJ’s ten best books for 2025 happens to be entirely devoted to answering that question:
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What prices have spiraled most out of control? Medical care, college tuition and housing. What three markets is the government most involved in? Medical care, education and housing. It's not a coincidence. https://t.co/Qs4CIXZm1r
As soon as government helps pay for something the price explodes. Heaven help the taxpayer if they make it "free."
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