The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before.
Ron Chernow
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I have always been the kid who's asked 'Why?' In my faith, you're just supposed to have faith. But I was always like 'why?' -
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It's also reflective of a young person's religion or faith in that it's highly charged with sacramental imagery and with country imagery, because I was in the seminary for so many years in the country. -
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More quotes by Ron Chernow
- Partly because his life ended before the age of 50, Hamilton was defined by the other founding fathers, and he managed, with amazing consistency, to alienate most of them.
- We really haven't had very much experience with people funding their retirement out of the stock market, and we don't know, frankly, how it would work under every scenario.
- The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance.
- The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before.
- You don't want too much fear in a market, because people will be blinded to some very good buying opportunities. You don't want too much complacency because people will be blinded to some risk.