Debt Markets

Limits of “Extend and Pretend” Tested

The extend and pretend charade in Europe is out of magic dust to sprinkle around. It is becoming increasingly apparent that there is no way…

The only thing necessary for the triumph of evil is for good men to do nothing. All tyranny needs to gain a foothold is for people of good conscience to remain silent. The people never give up their liberties but under some delusion. When bad men combine, the good must associate; else they will fall one by one, an unpitied sacrifice in a contemptible struggle. Bad laws are the worst sort of tyranny. Edmund Burke
The supreme power in America cannot enforce unjust laws by the sword; because the whole body of the people are armed, and constitute a force superior to any band of regular troops that can be, on any pretence, raised in the United States. Noah Webster
The principle that the majority have a right to rule the minority, practically resolves all government into a mere contest between two bodies of men, as to which of them shall be masters, and which of them slaves; a contest, that -- however bloody -- can, in the nature of things, never be finally closed, so long as man refuses to be a slave. Lysander Spooner
It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world. Thomas Jefferson
There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him. Robert Heinlein