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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (10146)10/3/2008 10:28:09 AM
From: Terry Whitman2 Recommendations  Read Replies (1) of 33421
 
Never been to Tokyo, so I don't have a real feel for how big or expensive the emperor's grounds are.
I should think the whole city of Tokyo even, should still be less valuable than the entire state of CA,
but there are many folks here in the Midwest here that would probably disagree with that statement. -g-

Some relevant quotations from people much smarter than I:

>The free market punishes irresponsibility. Government rewards it. – Harry Browne

The economic miracle that has been the United States was not produced by socialized enterprises, by government-union-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline. – Milton Friedman

The elementary truth is that the Great Depression was produced by government mismanagement [of money]. It was not produced by the failure of private enterprise. – Milton Friedman

The fact throughout history is that whenever government dominates the economic affairs of its citizenry, a free society is eroded, then destroyed, and a minority government ensues. Personal liberty without economic liberty is an absolute contradiction; the one cannot exist without the other. – William E. Simon

The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually by governmental activity. – Thomas Sowell
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