Thomas Sowell and his quotes.

Several days ago I reblogged wise quotes of Dr. Martin Luther King, Jr.
Today I want to introduce to new followers and guests quotes of Thomas Sowell. You’ll find link to an article about him in the post.

PURSUIT OF HAPPINESS

I just returned home from a nice party and found an email with Thomas Sowell’s quotes. I read all quotes and then went to Google to find out who was Thomas Sowell.

Here is what I found:   THOMAS SOWELL

Then I went back to the email and copied several quotes.

You can see them below and make your own conclusions.

“Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good.”

“It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.”

“One of the consequences of such notions as ‘entitlements’ is that people who have contributed nothing to society feel that society owes them something, apparently just for…

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The Vermont’s apartments

After 80 years of living in different countries with different political and economic systems, cultures, moral values, attitude to value of each person I always ask one simple question: “Why?”.

Below is a photo of a backyard of the Vermont’s apartments. This apartment house is only two blocks from our apartment house. There are many similar houses in the area but only this one has such wonderful backyard where its residents (especially kids and senior citizens) relax and play.

Why only this one?

What do you think?

VERMONTS APARTMENTS by JF

VERMONT’S APARTMENTS                                                                     by JF

Several quotes about priorities.

I believe there are three keys to success. For me it is keeping my priorities in order: It’s my faith and my family, and then the business.

Kathy Ireland

I’m starting to judge success by the time I have for myself, the time I spend with family and friends. My priorities aren’t amending; they’re shifting.

Brendan Fraser

Decide what you want, decide what you are willing to exchange for it. Establish your priorities and go to work.

H. L. Hunt

The answer to many of the domestic problems we face is not higher taxes and more spending. It is less waste, more results and greater freedom for the individual American to earn a rightful place in his own community – and for States and localities to address their own needs in their own ways, in the light of their own priorities.

Richard M. Nixon

Nassim Nicholas Taleb – a man hated by many experts.

In November of 2013 I wrote the post below after I read two Taleb’s books. His book “The Black Swan” is brilliant! Everyone must read it or at least to look it up HERE and choose what particular parts (chapters) of the book to read now. I am sure that everyone will find a lot of interesting in the book.

I reblogged this post because it is essential today to understand Taleb’s explanations of the last financial crisis, of the ways government policies influence our way of life and predictability of the future.

I also recommend to read an article at the end of the post about Taleb’s tweets.

PURSUIT OF HAPPINESS

America has more Nobel laureates in economics than any other country. There are thousands of experts in universities, banks, brokerage companies, insurance companies, etc.

Thousands of people work for the government and tell our presidents and the Congress what to do to keep economy growing and to keep people employed.

There is also a mighty Federal Reserve System. It is the central banking system of the United States. “It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907

The U.S. Congress established three key objectives for monetary policy in the Federal Reserve Act: Maximum employment, stable prices, and moderate long-term interest rates… The first two objectives are sometimes referred to as the Federal Reserve’s dual mandate… Its duties have expanded over the years, and today, according to official Federal Reserve…

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Nassim Nicholas Taleb – a man hated by many experts.

America has more Nobel laureates in economics than any other country. There are thousands of experts in universities, banks, brokerage companies, insurance companies, etc.

Thousands of people work for the government and tell our presidents and the Congress what to do to keep economy growing and to keep people employed.

There is also a mighty Federal Reserve System. It is the central banking system of the United States. “It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907

The U.S. Congress established three key objectives for monetary policy in the Federal Reserve Act: Maximum employment, stable prices, and moderate long-term interest rates… The first two objectives are sometimes referred to as the Federal Reserve’s dual mandate… Its duties have expanded over the years, and today, according to official Federal Reserve documentation, include conducting the nation’s monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions…The Fed also conducts research into the economy and releases numerous publications, such as the Beige Book.”

With all this tremendous pool of experts how did it happen that the USA and many other countries were recently in the financial crisis and still are very slowly recuperating? Unemployment is still high, financial system is not very stable, interest rates are artificially kept very low and it especially hurts senior citizens.

Some people believe that it is a result of the fact that so-called experts in economics relied on the wrong economic models.

One of those people is  Nassim Nicholas Taleb. He warned long time ago that the way financial and monetary policies conducted was wrong and will lead to a financial crisis.

Who is this man? I will summarize what I know after reading information on the internet and after reading his books “Fooled by Randomness” (2001) and “The Black Swan” (2007).

Nassim Nicholas Taleb was born in a mighty and very rich family. Then the family lost almost everything. He got a good education and wanted to pursue his interests in economics, mathematics, philosophy. To be able to do what he wanted he needed  financial independence. So he applied his efforts and his knowledge to this particular purpose and made a fortune. At the same time he proved that his theories are valid and usable.

You’ll find more information about Nassim Nicholas Taleb in the article below. I hope you’ll find time to read the article. It is very, very interesting. 

NASSIM NICHOLAS TALEB

I have no doubts that Taleb is today’s intellectual giant, that his views on economics and politics, his philosophy must be studied and applied in our society.

However, as I mentioned in the title of this post Nassim Nicholas Taleb hated by many experts. He hated by many economists and statisticians because he states that their knowledge limited and not up to today’s changes in all areas of life, economy and science. He also hated by many politicians because he states that the policy of expanding government debt is leading to a catastrophe.

I think that it is a must to read mentioned above Taleb’s books. They are not written for experts. They are serious and very personal books written by a person who learned views of many intellectual giants before him and decided whom to believe and what to believe.

Below is an article about Taleb’s tweets. I enjoyed it. Hope you’ll like it too.

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