“They met on the battlefield banner in hand.
They looked out across the vacant land.
And they counted the missing, one upon one,
None upon none.
The war it was over before it begun.Two little kings playing a game.
They gave a war and nobody came.
And nobody came.
And nobody came.
And nobody came.”– The Monkees, Zor and Zam
“A central bank has this wonderful ability that no other player in the market has when it says ’I’m going to do whatever it takes,’ and everyone believes that. In the end they may do nothing. It restores confidence. It’s the idea of multiple equilibria, and when we know that we are in the good equilibrium, in the end action is not needed.”– Panicos Demetriades, Central Bank Governor, Cyprus
http://www.ritholtz.com/blog/2012/09/things-that-make-you-go-hmmm-zor-and-zam/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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