The long run is a misleading guide to current affairs. In the long run we are all dead.
By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
When the facts change, I change my mind. What do you do, sir?
The market can stay irrational longer than you can stay solvent.
It is better to be roughly right than precisely wrong.